0001100682-21-000005 | 10-K | XBRL Viewer | Charles River Laboratories International INC

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 26, 2020	Jan. 22, 2021	Jun. 27, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 26, 2020
Current Fiscal Year End Date	--12-26
Document Transition Report	false
Entity File Number	001-15943
Entity Registrant Name	CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1397316
Entity Address, Address Line One	251 Ballardvale Street
Entity Address, City or Town	Wilmington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01887
City Area Code	781
Local Phone Number	222-6000
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	CRL
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 8,333,378,287
Entity Common Stock, Shares Outstanding		49,776,227
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for its 2021 Annual Meeting of Shareholders scheduled to be held on May 6, 2021, which will be filed with the Securities and Exchange Commission (SEC) not later than 120 days after December 26, 2020, are incorporated by reference into Part III of this Annual Report on Form 10-K. With the exception of the portions of the 2021 Proxy Statement expressly incorporated into this Annual Report on Form 10-K by reference, such document shall not be deemed filed as part of this Form 10-K.
Entity Central Index Key	0001100682
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Total revenue	$ 2,923,933	$ 2,621,226	$ 2,266,096
Costs and expenses:
Selling, general and administrative	528,935	517,622	443,854
Amortization of intangible assets	111,877	89,538	64,830
Operating income	432,729	351,151	331,383
Other income (expense):
Interest income	834	1,522	812
Interest expense	(86,433)	(60,882)	(63,772)
Other income, net	99,984	12,293	13,258
Income from continuing operations, before income taxes	447,114	304,084	281,681
Provision for income taxes	81,808	50,023	54,463
Income from continuing operations, net of income taxes	365,306	254,061	227,218
Income from discontinued operations, net of income taxes	0	0	1,506
Net income	365,306	254,061	228,724
Less: Net income attributable to noncontrolling interests	1,002	2,042	2,351
Net income attributable to common shareholders	$ 364,304	$ 252,019	$ 226,373
Basic:
Continuing operations attributable to common shareholders (in dollars per share)	$ 7.35	$ 5.17	$ 4.69
Discontinued operations (in dollars per share)	0	0	0.03
Net income attributable to common shareholders (in dollars per share)	7.35	5.17	4.72
Diluted:
Continuing operations attributable to common shareholders (in dollars per share)	7.20	5.07	4.59
Discontinued operations (in dollars per share)	0	0	0.03
Net income attributable to common shareholders (in dollars per share)	$ 7.20	$ 5.07	$ 4.62
Weighted-average shares outstanding—Basic (in shares)	49,550	48,730	47,947
Weighted-average shares outstanding—Diluted (in shares)	50,611	49,693	49,018
Service
Total revenue	$ 2,296,156	$ 2,029,371	$ 1,687,941
Costs and expenses:
Cost of services provided and products sold	1,533,230	1,371,699	1,150,371
Product
Total revenue	627,777	591,855	578,155
Costs and expenses:
Cost of services provided and products sold	$ 317,162	$ 291,216	$ 275,658

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 365,306	$ 254,061	$ 228,724
Other comprehensive income (loss):
Foreign currency translation adjustment and other	22,345	14,224	(28,305)
Pension and other post-retirement benefit plans (Note 12):
Prior service cost and gains (losses) arising during the period	15,747	(25,165)	(1,659)
Amortization of net loss, settlement losses, and prior service benefit included in total cost for pension and other post-retirement benefit plans	17,861	1,772	2,477
Comprehensive income, before income taxes	421,259	244,892	201,237
Less: Income tax expense (benefit) related to items of other comprehensive income (Note 10)	15,372	(3,633)	(1,892)
Comprehensive income, net of income taxes	405,887	248,525	203,129
Less: Comprehensive income related to noncontrolling interests, net of income taxes	2,438	1,822	1,398
Comprehensive income attributable to common shareholders, net of income taxes	$ 403,449	$ 246,703	$ 201,731

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Current assets:
Cash and cash equivalents	$ 228,424	$ 238,014
Trade receivables, net of allowances for doubtful accounts of $6,702 and $3,664, respectively	617,740	514,033
Inventories	185,695	160,660
Prepaid assets	96,712	52,588
Other current assets	72,560	56,030
Total current assets	1,201,131	1,021,325
Property, plant and equipment, net	1,124,358	1,044,128
Operating lease right-of-use assets, net	178,220	140,085
Goodwill	1,809,168	1,540,565
Client relationships and other intangible assets, net	787,599	689,413
Deferred tax assets	37,729	44,659
Other assets	352,626	212,615
Total assets	5,490,831	4,692,790
Current liabilities:
Current portion of long-term debt and finance leases	50,214	38,545
Accounts payable	122,475	111,498
Accrued compensation	206,823	158,617
Deferred revenue	207,942	171,805
Accrued liabilities	149,820	139,118
Other current liabilities	102,477	90,598
Total current liabilities	839,751	710,181
Long-term debt, net and finance leases	1,929,571	1,849,666
Operating lease right-of-use liabilities	155,595	116,252
Deferred tax liabilities	217,031	167,283
Other long-term liabilities	205,215	182,933
Total liabilities	3,347,163	3,026,315
Commitments and contingencies
Redeemable noncontrolling interests	25,499	28,647
Equity:
Preferred stock, $0.01 par value; 20,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value; 120,000 shares authorized; 49,767 shares issued and outstanding as of December 26, 2020 and 48,936 shares issued and outstanding as of December 28, 2019	498	489
Additional paid-in capital	1,627,564	1,531,785
Retained earnings	625,414	280,329
Treasury stock, at cost, 0 shares as of December 26, 2020 and December 28, 2019	0	0
Accumulated other comprehensive loss	(138,874)	(178,019)
Total equity attributable to common shareholders	2,114,602	1,634,584
Noncontrolling interest	3,567	3,244
Total equity	2,118,169	1,637,828
Total liabilities, redeemable noncontrolling interests and equity	5,490,831	4,692,790
Client relationships, net
Current assets:
Client relationships and other intangible assets, net	721,505	613,573
Other intangible assets, net
Current assets:
Client relationships and other intangible assets, net	$ 66,094	$ 75,840

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 6,702	$ 3,664
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
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)	120,000,000	120,000,000
Common stock, shares issued (in shares)	49,767,000	48,936,000
Common Stock, shares outstanding (in shares)	49,767,000	48,936,000
Treasury stock, shares (in shares)	0	0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Cash flows relating to operating activities
Net income	$ 365,306	$ 254,061	$ 228,724
Less: Income from discontinued operations, net of income taxes	0	0	1,506
Income from continuing operations, net of income taxes	365,306	254,061	227,218
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	234,924	198,095	161,779
Stock-based compensation	56,341	57,271	47,346
Deferred income taxes	(133)	(21,895)	(9,702)
Gain on venture capital and strategic equity investments, net	(100,861)	(20,706)	(15,928)
Other, net	17,273	7,931	15,613
Changes in assets and liabilities:
Trade receivables, net	(85,627)	(8,323)	(21,196)
Inventories	(18,379)	(21,399)	(13,338)
Accounts payable	748	29,775	(12,732)
Accrued compensation	40,481	3,394	31,616
Deferred revenue	28,647	(3,620)	36,072
Customer contract deposits	8,955	(10,898)	28,115
Other assets and liabilities, net	(1,100)	17,250	(33,723)
Net cash provided by operating activities	546,575	480,936	441,140
Cash flows relating to investing activities
Acquisition of businesses and assets, net of cash acquired	(418,628)	(515,701)	(824,868)
Capital expenditures	(166,560)	(140,514)	(140,054)
Purchases of investments and contributions to venture capital investments	(26,692)	(22,341)	(25,125)
Proceeds from sale of investments	11,401	942	35,849
Other, net	(1,065)	(3,888)	(805)
Net cash used in investing activities	(601,544)	(681,502)	(955,003)
Cash flows relating to financing activities
Proceeds from long-term debt and revolving credit facility	2,230,988	3,358,461	2,755,028
Proceeds from exercises of stock options	46,586	34,546	37,657
Payments on long-term debt, revolving credit facility, and finance lease obligations	(2,200,400)	(3,124,588)	(2,201,003)
Payments on debt financing costs	0	(6,593)	(18,337)
Purchase of treasury stock	(23,979)	(18,087)	(13,846)
Other, net	(5,947)	(11,802)	(1,440)
Net cash provided by financing activities	47,248	231,937	558,059
Discontinued operations
Net cash used in operating activities from discontinued operations	0	0	(3,735)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	794	11,357	(9,474)
Net change in cash, cash equivalents, and restricted cash	(6,927)	42,728	30,987
Cash, cash equivalents, and restricted cash, beginning of period	240,046	197,318	166,331
Cash, cash equivalents, and restricted cash, end of period	233,119	240,046	197,318
Supplemental cash flow information:
Cash, cash equivalents, and restricted cash, end of period	233,119	197,318	166,331
Cash paid for income taxes	60,059	54,060	67,600
Cash paid for interest	72,461	67,813	47,540
Non-cash investing and financing activities:
Additions to property, plant and equipment, net	25,614	21,447	18,212
Assets acquired under finance leases	$ 1,571	$ 4,819	$ 1,473

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Redeemable Noncontrolling Interest	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Total Equity Attributable to Common Shareholders	Total Equity Attributable to Common Shareholders Cumulative Effect, Period of Adoption, Adjustment	Noncontrolling Interest
Beginning balance (in shares) at Dec. 30, 2017				87,495						40,093
Beginning balance at Dec. 30, 2017	$ 1,047,407			$ 875	$ 2,560,192	$ 288,658		$ (144,731)		$ (1,659,914)	$ 1,045,080		$ 2,327
Beginning balance (Accounting Standards Update 2018-02) at Dec. 30, 2017			$ 0				$ 3,330		$ (3,330)
Beginning balance (Accounting Standards Update 2016-01) at Dec. 30, 2017			$ 1,424				$ 1,424					$ 1,424
Increase (Decrease) in Stockholders' Equity
Net income	227,923					226,373					226,373		1,550
Other comprehensive income (loss)	(24,642)							(24,642)			(24,642)
Dividends declared to noncontrolling interest	(1,431)												(1,431)
Adjustment of redeemable noncontrolling interest to redemption value	(2,069)				(2,069)						(2,069)
Issuance of stock under employee compensation plans (in shares)				936
Issuance of stock under employee compensation plans	37,666			$ 9	37,657						37,666
Acquisition of treasury shares (in shares)										129
Acquisition of treasury shares	(13,846)									$ (13,846)	(13,846)
Retirement of treasury shares (in shares)				(40,221)						(40,221)
Retirement of treasury shares	0			$ (402)	(1,195,614)	(477,689)				$ 1,673,705
Stock-based compensation	47,346				47,346						47,346
Ending balance (in shares) at Dec. 29, 2018				48,210						1
Ending balance at Dec. 29, 2018	1,319,778			$ 482	1,447,512	42,096		(172,703)		$ (55)	1,317,332		2,446
Increase (Decrease) in Stockholders' Equity
Net income	254,103					252,019					252,019		2,084
Other comprehensive income (loss)	(5,316)							(5,316)			(5,316)
Dividends declared to noncontrolling interest	(1,286)												(1,286)
Adjustment of redeemable noncontrolling interest to redemption value	(1,451)				(1,451)						(1,451)
Purchase of additional equity interest and buy-out and contingent consideration recognition in connection with redeemable noncontrolling interest	(1,870)				(1,870)						(1,870)
Issuance of stock under employee compensation plans (in shares)				866
Issuance of stock under employee compensation plans	34,686			$ 8	34,678						34,686
Acquisition of treasury shares (in shares)										139
Acquisition of treasury shares	$ (18,087)									$ (18,087)	(18,087)
Retirement of treasury shares (in shares)	(100)			(140)						(140)
Retirement of treasury shares	$ 0			$ (1)	(4,355)	(13,786)				$ 18,142
Stock-based compensation	57,271				57,271						57,271
Ending balance (in shares) at Dec. 28, 2019				48,936						0
Ending balance at Dec. 28, 2019	1,637,828			$ 489	1,531,785	280,329		(178,019)		$ 0	1,634,584		3,244
Increase (Decrease) in Stockholders' Equity
Net income	366,156					364,304					364,304		1,852
Other comprehensive income (loss)	39,145							39,145			39,145
Dividends declared to noncontrolling interest	(1,529)												(1,529)
Purchase of additional equity interest and buy-out and contingent consideration recognition in connection with redeemable noncontrolling interest	(2,379)				(2,379)						(2,379)
Issuance of stock under employee compensation plans (in shares)				977
Issuance of stock under employee compensation plans	46,586			$ 10	46,576						46,586
Acquisition of treasury shares (in shares)										146
Acquisition of treasury shares	$ (23,979)									$ (23,979)	(23,979)
Retirement of treasury shares (in shares)	(100)			(146)						(146)
Retirement of treasury shares	$ 0			$ (1)	(4,759)	(19,219)				$ 23,979
Stock-based compensation	56,341				56,341						56,341
Ending balance (in shares) at Dec. 26, 2020				49,767						0
Ending balance at Dec. 26, 2020	$ 2,118,169			$ 498	$ 1,627,564	$ 625,414		$ (138,874)		$ 0	$ 2,114,602		$ 3,567
Increase (Decrease) in Stockholders' Equity
Remaining ownership interest		10.00%

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 26, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

Charles River Laboratories International, Inc. (the Company), together with its subsidiaries, is a full service, early-stage contract research organization (CRO). The Company has built upon its core competency of laboratory animal medicine and science (research model technologies) to develop a diverse portfolio of discovery and safety assessment services, both Good Laboratory Practice (GLP) and non-GLP, that enable the Company to support its clients from target identification through non-clinical development. The Company also provides a suite of products and services to support its clients’ manufacturing activities.

Principles of Consolidation

The Company’s consolidated financial statements reflect its financial statements and those of its subsidiaries in which the Company holds a controlling financial interest. For consolidated entities in which the Company owns or is exposed to less than 100% of the economics, the Company records net income (loss) attributable to noncontrolling interests in its consolidated statements of income equal to the percentage of the economic or ownership interest retained in such entities by the respective noncontrolling parties. Intercompany balances and transactions are eliminated in consolidation.

The Company’s fiscal year is typically based on 52-weeks, with each quarter composed of 13 weeks ending on the last Saturday on, or closest to, March 31, June 30, September 30, and December 31.

Segment Reporting

The Company reports its results in three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing). The Company’s RMS reportable segment includes the Research Models, Research Model Services, and Research Products businesses. Research Models includes the commercial production and sale of small research models, as well as the supply of large research models. Research Model Services includes: Genetically Engineered Models and Services (GEMS), which performs contract breeding and other services associated with genetically engineered models; Research Animal Diagnostic Services (RADS), which provides health monitoring and diagnostics services related to research models; Insourcing Solutions (IS), which provides colony management of its clients’ research operations (including recruitment, training, staffing, and management services); and Research Products, which supplies controlled, consistent, customized primary cells and blood components derived from normal and mobilized peripheral blood, bone marrow, and cord blood. The Company’s DSA reportable segment includes services required to take a drug through the early development process including discovery services, which are non-regulated services to assist clients with the identification, screening, and selection of a lead compound for drug development, and regulated and non-regulated (GLP and non-GLP) safety assessment services. The Company’s Manufacturing reportable segment includes Microbial Solutions, which provides in vitro (non-animal) lot-release testing products, microbial detection products, and species identification services; Biologics Testing Services (Biologics), which performs specialized testing of biologics; Avian Vaccine Services (Avian), which supplies specific-pathogen-free chicken eggs and chickens.

Use of Estimates

The preparation of consolidated financial statements in accordance with generally accepted accounting principles in the United States (U.S. GAAP) requires that the Company make estimates and judgments that may affect the reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, judgments, and methodologies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known.

On March 11, 2020, the World Health Organization declared the outbreak of a strain of novel coronavirus disease, COVID-19, a global pandemic. The COVID-19 pandemic is dynamic and expanding, and its ultimate scope, duration and effects are uncertain. This pandemic has and continues to result in, and any future epidemic or pandemic crises may potentially result in, direct and indirect adverse effects on the Company’s industry and customers, which in turn has (with respect to COVID-19) and may (with respect to future epidemics or crises) impact the Company’s business, results of operations and financial condition. Further, the COVID-19 pandemic may also affect the Company’s operating and financial results in a manner that is not presently known to the Company or that the Company currently does not expect to present significant risks to its operations or financial results. As of the date of issuance of these consolidated financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update estimates, judgments or revise the carrying value of any assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s consolidated financial statements.

Cash, Cash Equivalents, and Investments

Cash equivalents include money market funds, time deposits and other investments with remaining maturities at the purchase date of three months or less. Time deposits with original maturities of greater than three months are reported as short-term investments.

Trade Receivables, Net

The Company records trade receivables net of an allowance for doubtful accounts. An allowance for doubtful accounts is established based on historical collection information, a review of major client accounts receivable balances, current economic conditions in the geographies in which it operates, and the Company’s expectations of future economic conditions that may affect the collectability of the recorded amounts. Amounts determined to be uncollectible are charged or written off against the allowance.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, investments and trade receivables. The Company places cash and cash equivalents and investments in various financial institutions with high credit rating and limits the amount of credit exposure to any one financial institution. Trade receivables are primarily from clients in the pharmaceutical and biotechnology industries, as well as academic and government institutions. Concentrations of credit risk with respect to trade receivables, which are typically unsecured, are limited due to the wide variety of customers using the Company’s products and services as well as their dispersion across many geographic areas. No single client accounted for more than 5% of revenue in fiscal years 2020, 2019, or 2018 or trade receivables as of December 26, 2020 or December 28, 2019.

Fair Value Measurements

The accounting standard for fair value measurements defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP, and requires certain disclosures about fair value measurements. Under this standard, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company has certain financial assets and liabilities recorded at fair value, which have been classified as Level 1, 2 or 3 within the fair value hierarchy:

•Level 1 - Fair values are determined utilizing prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access,

•Level 2 - Fair values are determined by utilizing quoted prices for identical or similar assets and liabilities in active markets or other market observable inputs such as interest rates, yield curves, and foreign currency spot rates,

•Level 3 - Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

The fair value hierarchy level is determined by asset and class based on the lowest level of significant input. The observability of inputs may change for certain assets or liabilities. This condition could cause an asset or liability to be reclassified between levels. The Company recognizes transfers between levels within the fair value hierarchy, if any, at the end of each quarter.

Valuation methodologies used for assets and liabilities measured or disclosed at fair value are as follows:

•Cash equivalents - Valued at market prices determined through third-party pricing services;

•Foreign currency forward contracts - Valued using market observable inputs, such as forward foreign exchange points and foreign exchanges rates;

•Life insurance policies - Valued at cash surrender value based on the fair value of underlying investments;

•Debt instruments - The book value of the Company’s term and revolving loans, which are variable rate loans carried at amortized cost, approximates the fair value based on current market pricing of similar debt. The book value of the Company’s 5.5% Senior Notes due in 2026 and the 4.25% Senior Notes due in 2028 (Senior Notes), which are fixed rate debt, are carried at amortized cost. Fair value of the Senior Notes is based on quoted market prices and on borrowing rates available to the Company; and

•Contingent consideration - Valued based on a probability weighting of the future cash flows associated with the potential outcomes.

Inventories

The Company’s inventories consist of raw materials, work in process and finished product related primarily to small models, large models, cell supply, microbial solutions products, and avian related eggs and flocks. Inventories are stated at the lower of cost or net realizable value. Inventory value is generally based on the standard cost method for all businesses except for the Avian business, which is based on an average cost. Standard costs are trued-up to reflect actual cost. For small models inventory, costs include direct materials such as feed and bedding, costs of personnel directly involved in the care of the models, and an allocation of facility overhead. For the large models inventory, costs are primarily the external cost paid to acquire the model. For cell supply inventory, costs include direct materials, costs of personnel directly involved in the processing of products sold, and an allocation of facility overhead. For the microbial solutions inventory, costs include direct materials, cost of personnel directly involved in the manufacturing and assembly of products sold, and an allocation of facility overhead. For the avian related inventory, costs include direct materials, such as animal feed, cost of personnel directly involved with the care of the eggs and flocks, and an allocation of facility overhead. Inventory costs are charged to cost of revenue in the period the products are sold to an external party. The Company analyzes its inventory levels on a quarterly basis and writes down inventory that is determined to be damaged, obsolete or otherwise unmarketable, with a corresponding charge to cost of products sold.

Property, Plant and Equipment, Net

Property, plant and equipment, net, including improvements that significantly add to productive capacity or extend useful life, are carried at cost and are subject to review for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The cost of normal, recurring, or periodic repairs and maintenance activities related to property, plant and equipment is expensed as incurred. In addition, the Company capitalizes certain internal use computer software development costs. Costs incurred during the preliminary project stage are expensed as incurred, while costs incurred during the application development stage are capitalized and amortized over the estimated useful life of the software. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Maintenance and training costs related to software obtained for internal use are expensed as incurred.

Interest costs incurred during the construction of major capital projects are capitalized until the underlying asset is ready for its intended use, at which point the interest costs are amortized as depreciation expense over the life of the underlying asset.

The Company generally depreciates the cost of its property, plant and equipment using the straight-line method over the estimated useful lives of the respective assets as follow:


			Estimated Useful Lives
			(in years)
Land			Indefinite
Buildings			20 - 40
Machinery and equipment			3 - 20
Furniture and fixtures			5 - 10
Computer hardware and software			3 - 8
Vehicles			3 - 5

Leasehold improvements are amortized over the shorter of the estimated useful life of the asset or the lease term. Finance lease assets are amortized over the lease term, however, if ownership is transferred by the end of the finance lease, or there is a

bargain purchase option, such finance lease assets are amortized over the useful life that would be assigned if such assets were owned.

When the Company disposes of property, plant and equipment, it removes the associated cost and accumulated depreciation from the related accounts on its consolidated balance sheet and includes any resulting gain or loss in its consolidated statement of income.

Business Combinations

The Company accounts for business combinations under the acquisition method of accounting. The Company allocates the amounts that it pays for each acquisition to the assets it acquires and liabilities it assumes based on their fair values at the dates of acquisition, including identifiable intangible assets, which typically represents a significant portion of the purchase price. The determination of the fair value of intangible assets requires the use of significant judgment using management’s best estimates of inputs and assumptions that a market participant would use. Significant judgments include (i) the fair value; and (ii) whether such intangible assets are amortizable or non-amortizable and, if the former, the period and the method by which the intangible asset will be amortized. The Company utilizes commonly accepted valuation techniques, such as the income approach and the cost approach, as appropriate, in establishing the fair value of intangible assets. Typically, key assumptions include projections of cash flows that arise from identifiable intangible assets of acquired businesses as well as discount rates based on an analysis of the weighted average cost of capital, adjusted for specific risks associated with the assets.

In recent acquisitions, customer relationship intangible assets (also referred to as client relationships) are the most significant identifiable asset acquired. To determine the fair value of the acquired client relationships, the Company typically utilizes the multiple period excess earnings model (a commonly accepted valuation technique), which relies on the following key assumptions: projections of cash flows from the acquired entities, which includes future revenue growth rates, operating income margins, and customer attrition rates; as well as discount rates based on an analysis of the acquired entities’ weighted average cost of capital.

Contingent Consideration

The consideration for the Company’s acquisitions may include future payments that are contingent upon the occurrence of a particular event. The Company records an obligation for such contingent payments at fair value on the acquisition date. The Company estimates the fair value of contingent consideration obligations through valuation models that incorporate probability adjusted assumptions related to the achievement of the milestones and the likelihood of making related payments. The Company revalues these contingent consideration obligations each reporting period. Changes in the fair value of the contingent consideration obligations are recognized in the Company’s consolidated statements of income as a component of selling, general and administrative expenses. Changes in the fair value of the contingent consideration obligations can result from changes to one or multiple inputs, including adjustments to the discount rates and changes in the assumed probabilities of successful achievement of certain financial targets.

Discount rates in the Company’s valuation models represent a measure of the credit risk associated with settling the liability. The period over which the Company discounts its contingent obligations is typically based on when the contingent payments would be triggered. These fair value measurements are based on significant inputs not observable in the market.

Goodwill and Intangible Assets

Goodwill represents the difference between the purchase price and the fair value of assets acquired and liabilities assumed when accounted for using the acquisition method of accounting. Goodwill is not amortized, but reviewed for impairment on an annual basis, during the fourth quarter, or more frequently if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of the Company's reporting units below their carrying amounts.

The Company has the option to first assess qualitative factors to determine whether it is necessary to perform the quantitative impairment test. If the Company elects this option and believes, as a result of the qualitative assessment, that it is more-likely-than-not that the carrying value of goodwill is not recoverable, the quantitative impairment test is required; otherwise, no further testing is required. Alternatively, the Company may elect to not first assess qualitative factors and immediately perform the quantitative impairment test. In the quantitative test, the Company compares the fair value of its reporting units to their carrying values. If the carrying values of the net assets assigned to the reporting units exceed the fair values of the reporting units an impairment loss equal to the difference would be recorded.

Definite-lived intangible assets, including client relationships, are amortized over the pattern in which the economic benefits of the intangible assets are utilized and reviewed for impairment whenever events or changes in circumstances indicate that the

carrying amount of the assets or asset group may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset, which requires the use of customer attribution rates and other assumptions. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the definite-lived intangible assets, the definite-lived intangible assets are written-down to their fair values.

Valuation and Impairment of Long-Lived Assets

Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets or asset group may not be recoverable.

Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the assets, the assets are written-down to their fair values.

Long-lived assets to be disposed of are carried at fair value less costs to sell.

Venture Capital Investments

The Company invests in several venture capital funds that invest in start-up companies, primarily in the life sciences industry. The Company’s ownership interest in these funds ranges from less than 1% to approximately 12%. The Company accounts for the investments in limited partnerships (LPs), which are variable interest entities, under the equity method of accounting. For publicly-held investments in the LPs, the Company adjusts for changes in fair market value based on reported share holdings at the end of each fiscal quarter. The Company is not the primary beneficiary because it has no power to direct the activities that most significantly affect the LPs’ economic performance. The Company accounts for the investments in limited liability companies, which are not variable interest entities, under the equity method of accounting.

Under the equity method of accounting, the Company’s portion of the investment gains and losses, as reported in the fund’s financial statements on a quarterly lag each reporting period, is recorded in other income, net in the accompanying consolidated statements of income. In addition, the Company adjusts the carrying value of these investments to reflect its estimate of changes to fair value since the fund’s financial statements are based on information from the fund’s management team, market prices of known public holdings of the fund and other information.

Strategic Equity Investments

The Company periodically invests in minority equity positions of privately-held companies that are reported either at fair value or under the equity method of accounting, as appropriate. Equity investments accounted for at fair value that do not have readily determinable fair values are generally recorded at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same investee. Gains and losses from strategic equity investments are recorded in Other income, net in the accompanying consolidated statements of income.

Life Insurance Contracts

Investments in life insurance contracts are recorded at cash surrender value. The initial investment at the transaction price is recognized and remeasured based on fair value of underlying investments or contractual value each reporting period. Investments in and redemptions of these life insurance contracts are reported as cash flows from investing activities in the consolidated statement of cash flows. The Company held 44 contracts at both December 26, 2020 and December 28, 2019, with a face value of $79.1 million and $72.7 million, respectively.

Leases

The Company adopted Accounting Standards Codification Topic 842, “Leases” on December 30, 2018 using the modified retrospective method for all leases that had commenced as of the effective date, along with certain available practical expedients. Upon adoption the Company derecognized $26 million of property, plant and equipment, net and corresponding other debt associated with certain build-to-suit lease arrangements. The Company recorded operating lease right-of-use assets, net of $134 million, inclusive of opening adjustments impacting prepaid assets and other assets, primarily related to prepaid rent existing at transition, and $127 million of operating lease right-of-use liabilities, within our consolidated balance sheet upon adoption. There was no cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption.

At inception of a contract, the Company determines if a contract meets the definition of a lease. A lease is a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. The Company determines if the contract conveys the right to control the use of an identified asset for a period of time. The Company assesses throughout the period of use whether the Company has both of the following: (1) the right to obtain substantially all of the economic benefits from use of the identified asset, and (2) the right to

direct the use of the identified asset. This determination is reassessed if the terms of the contract are changed. Leases are classified as operating or finance leases based on the terms of the lease agreement and certain characteristics of the identified asset. Right-of-use assets and lease liabilities are recognized at lease commencement date based on the present value of the minimum future lease payments.

The Company leases laboratory, production, and office space (real estate), as well as land, vehicles and certain equipment under non-cancellable operating and finance leases. The carrying value of the Company’s right-of-use lease assets is substantially concentrated in its real estate leases, while the volume of lease agreements is primarily concentrated in vehicles and equipment leases. The Company’s policy is to not record leases with an original term of twelve months or less on the consolidated balance sheets. The Company recognizes lease expense for these short-term leases on a straight-line basis over the lease term.

Certain lease agreements include rental payments that are adjusted periodically for inflation or other variables. In addition to rent, the leases may require the Company to pay additional amounts for taxes, insurance, maintenance and other expenses, which are generally referred to as non-lease components. Such adjustments to rental payments and variable non-lease components are treated as variable lease payments and recognized in the period in which the obligation for these payments was incurred. Variable lease components and variable non-lease components are not measured as part of the right-of-use asset and liability. Only when lease components and their associated non-lease components are fixed are they accounted for as a single lease component and are recognized as part of a right-of-use asset and liability. Total contract consideration is allocated to the combined fixed lease and non-lease component. This policy election applies consistently to all asset classes under lease agreements.

Most real estate leases contain clauses for renewal at the Company’s option with renewal terms that generally extend the lease term from 1 to 5 years. Certain lease agreements contain options to purchase the leased property and options to terminate the lease. Payments to be made in option periods are recognized as part of the right-of-use lease assets and lease liabilities when it is reasonably certain that the option to extend the lease will be exercised or the option to terminate the lease will not be exercised, or is not at the Company’s option. The Company determines whether the reasonably certain threshold is met by considering contract-, asset-, market-, and entity-based factors.

A portfolio approach is applied to certain lease contracts with similar characteristics. The Company’s lease agreements do not contain any significant residual value guarantees or material restrictive covenants imposed by the leases.

The Company subleases a limited number of lease arrangements. Sublease activity is not material to the consolidated financial statements.

Stock-Based Compensation

The Company may grant stock options, restricted stock, restricted stock units (RSUs), and performance share units (PSUs) to employees and stock options, restricted stock, and RSUs to non-employee directors under stock-based compensation plans. Stock-based compensation is recognized as an expense in the consolidated statements of income based on the grant date fair value, adjusted for forfeitures when they occur, over the requisite service period.

For stock options, restricted stock and RSUs that vest based on service conditions, the Company uses the straight-line method to allocate compensation expense to reporting periods. Where awards are made with non-substantive vesting periods and a portion of the award continues to vest after the employee’s eligible retirement, the Company recognizes expense based on the period from the grant date to the date on which the employee is retirement eligible. The Company records the expense for PSU grants subject to performance and/or market conditions using the accelerated attribution method over the remaining service period when management determines that achievement of the performance-based milestone is probable.

The fair value of stock options granted is calculated using the Black-Scholes option-pricing model and the fair value of PSUs is estimated using a lattice model with a Monte Carlo simulation, both of which require the use of subjective assumptions including volatility and expected term, among others. The expected volatility assumption is typically determined using the historical volatility of the Company’s common stock over the expected life of the stock-based award. The expected term is determined using historical option exercise activity. The fair value of restricted stock and RSUs is based on the market value of the Company’s common stock on the date of grant.

Revenue Recognition

Revenue is recognized when, or as, obligations under the terms of a contract are satisfied, which occurs when control of the promised products or services is transferred to customers. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or services to a customer (“transaction price”).

To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing the amount to which the Company expects to be entitled. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the Company’s anticipated performance and all information (historical, current and forecasted) that is reasonably available. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue.

When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Generally, the Company does not extend payment terms beyond one year. Applying the practical expedient, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. The Company’s contracts do not generally contain significant financing components.

Contracts with customers may contain multiple performance obligations. For such arrangements, the transaction price is allocated to each performance obligation based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations.

Contracts are often modified to account for changes in contract specifications and requirements. Contract modifications exist when the modification either creates new, or changes existing, enforceable rights and obligations. Generally, when contract modifications create new performance obligations, the modification is considered to be a separate contract and revenue is recognized prospectively. When contract modifications change existing performance obligations, the impact on the existing transaction price and measure of progress for the performance obligation to which it relates is generally recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis.

Product revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Service revenue is generally recognized over time as the services are delivered to the customer based on the extent of progress towards completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products or services to be provided. Depending on which better depicts the transfer of value to the customer, the Company generally measures its progress using either cost-to-cost (input method) or right-to-invoice (output method). The Company uses the cost-to-cost measure of progress when it best depicts the transfer of value to the customer which occurs as the Company incurs costs on its contract, generally related to fixed fee service contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. The costs calculation includes variables such as labor hours, allocation of overhead costs, research model costs, and subcontractor costs. Revenue is recorded proportionally as costs are incurred. The right-to-invoice measure of progress is generally related to rate per unit contracts, as the extent of progress towards completion is measured based on discrete service or time-based increments, such as samples tested or labor hours incurred. Revenue is recorded in the amount invoiced since that amount corresponds directly to the value of the Company’s performance to date.

Income Taxes

The provision for income taxes includes federal, state, local and foreign taxes. Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial statements carrying amounts and their respective tax basis. The Company measures deferred tax assets and liabilities using the enacted tax rates in effect when the temporary differences are expected to be settled. The Company evaluates the realizability of its deferred tax assets and establishes a valuation allowance when it is more likely than not that all or a portion of deferred tax assets will not be realized.

The Company accounts for uncertain tax positions using a “more-likely-than-not” threshold for recognizing and resolving uncertain tax positions. The Company evaluates uncertain tax positions on a quarterly basis and considers various factors, including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, information obtained during in-process audit activities and changes in facts

or circumstances related to a tax position. The Company also accrues for potential interest and penalties related to unrecognized tax benefits in income tax expense.

Foreign Currency Contracts

Foreign currency contracts are recorded at fair value in the Company’s consolidated balance sheets and are not designated as hedging instruments. Any gains or losses on forward contracts associated with intercompany loans are recognized immediately in Other income, net and are largely offset by the remeasurement of the underlying intercompany loan. Any gains or losses on forward contracts associated with the Company’s U.S. dollar denominated loan borrowed by a non-U.S. entity under the Company’s Credit Facility are recognized immediately in Interest expense. Gains or losses incurred on the remeasurement of the Company’s U.S. dollar denominated loan borrowed by a non-U.S. entity with a different functional currency is recorded in Other income, net.

Translation of Foreign Currencies

For the Company’s subsidiaries that transact in a functional currency other than the U.S. dollar, assets and liabilities are translated at current rates of exchange as of the balance sheet date. Income and expense items are translated at the average foreign exchange rates for the period. Adjustments resulting from the translation of the financial statements of the Company’s foreign operations into U.S. dollars are excluded from the determination of net income and are recorded in accumulated other comprehensive loss, a separate component of equity.

Pension and Other Post-Retirement Benefit Plans

The Company recognizes the funded status of its defined benefit pension and other post-retirement benefit plans as an asset or liability. This amount is defined as the difference between the fair value of plan assets and the benefit obligation. The Company measures plan assets and benefit obligations as of its fiscal year end.

The key assumptions used to calculate benefit obligations and related pension costs include expected long-term rate of return on plan assets, withdrawal and mortality rates, expected rate of increase in employee compensation levels and a discount rate. Assumptions are determined based on the Company’s data and appropriate market indicators, and evaluated each year as of the plan’s measurement date.

The expected long-term rate of return on plan assets reflects the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the projected benefit obligations. In determining the expected long-term rate of return on plan assets, the Company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance.

The rate of compensation increase reflects the expected annual salary increases for the plan participants based on historical experience and the current employee compensation strategy.

The Company is required to recognize as a component of other comprehensive income, net of tax, the actuarial gains or losses and prior service costs or credits that arise but were not previously required to be recognized as components of net periodic benefit cost. Other comprehensive income is adjusted as these amounts are later recognized in income as components of net periodic benefit cost.

The Company records the service cost component of the net periodic benefit cost within Cost of services provided and Selling, general, and administrative expenses and all other components of net periodic benefit cost within Other income, net in the consolidated statements of income.

The Company recognizes pension settlement gains or losses in the period when all of the following settlement criteria are met: there is an irrevocable action, the Company is relieved of primary responsibility for a benefit obligation, and significant risks related to the obligation and the assets used to effect the settlement are eliminated.

Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Except where the result would be anti-dilutive to income from continuing operations, diluted earnings per share is computed using the treasury stock method, assuming the exercise of stock options and the vesting of restricted stock awards, RSUs, or PSUs, as well as their related income tax effects.

Treasury Shares

The Company periodically retires treasury shares acquired through share repurchases and returns those shares to the status of authorized but unissued. The Company accounts for treasury stock transactions under the cost method. For each reacquisition of common stock, the number of shares and the acquisition price for those shares is added to the existing treasury stock count and total value. Thus, the average cost per share is re-averaged each time shares are acquired. When treasury shares are retired, the Company allocates the excess of the repurchase price over the par value of shares acquired to both retained earnings and additional paid-in-capital. The portion allocated to additional paid-in-capital is determined by applying a percentage, determined by dividing the number of shares to be retired by the number of shares issued, to the balance of additional paid-in-capital as of the retirement date.

Newly Adopted Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board (FASB) issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computer Arrangement that is a Service Contract.” ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company’s adoption of this standard in fiscal year 2020 did not have a significant impact on the consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” ASU 2018-13 removes the disclosure requirement for the amount and reasons for transfers between Level 1 and Level 2 fair value measurements as well as the process for Level 3 fair value measurements. In addition, the ASU adds the disclosure requirements for changes in unrealized gains and losses included in Other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period as well as the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The Company’s adoption of this standard in fiscal year 2020 did not have a significant impact on the consolidated financial statements and related disclosures.

In August 2018, the FASB issued ASU 2018-14, “Compensation Retirement Benefits - Defined Benefit Plans -General (Subtopic 715-20).” ASU 2018-14 removes the requirements to disclose the amounts in Accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year and the related party disclosures about the amount of future annual benefits covered by insurance contracts. In addition, the ASU adds the requirement to disclose an explanation for any significant gains and losses related to changes in the benefit obligation for the period. The Company’s adoption of this standard in fiscal year 2020 did not have a significant impact on the consolidated financial statements and related disclosures.

In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment.” The standard simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. The Company’s adoption of this standard in fiscal year 2020 did not have a significant impact on the consolidated financial statements and related disclosures.

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses”. The standard, including subsequently issued amendments, requires a financial asset measured at amortized cost basis, such as trade and notes receivables, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company’s adoption of this standard in fiscal year 2020 did not have a significant impact on the consolidated financial statements and related disclosures.

Newly Issued Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU, including subsequently issued updates, offers temporary optional expedients and exceptions for applying U.S. GAAP to modifications to agreements such as loans, debt securities, derivatives, and borrowings which reference LIBOR or another reference rate that is expected to be discontinued by December 31, 2021. The expedients and exceptions provided by the standard do not apply to modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 that an entity has elected certain optional expedients for and are retained through the end of the hedging relationship. The ASU is effective until December 31, 2022 when the replacement for LIBOR is expected to be completed. The interest rate on the Company’s senior credit facility, which matures in fiscal year 2023, is linked to LIBOR. The Company is in the process of evaluating options for

transitioning away from the senior credit facility’s use of LIBOR and expects to be completed by the time LIBOR is phased out. The Company did not elect to apply any of the expedients or exceptions as of and for the fiscal year ended December 26, 2020 and is currently evaluating the impact this new standard will have on the consolidated financial statements and related disclosures.

In January 2020, the FASB issued ASU 2020-01, “Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815).” ASU 2020-01 states any equity security transitioning from the alternative method of accounting under Topic 321 to the equity method, or vice versa, due to an observable transaction will be remeasured immediately before the transition. In addition, the ASU clarifies the accounting for certain non-derivative forward contracts or purchased call options to acquire equity securities stating such instruments will be measured using the fair value principles of Topic 321 before settlement or exercise. The ASU is effective for fiscal years beginning after December 15, 2020, and will be applied on a prospective basis. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements and related disclosures.

In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 simplifies the accounting for income taxes by removing exceptions within the general principles of Topic 740 regarding the calculation of deferred tax liabilities, the incremental approach for intraperiod tax allocation, and calculating income taxes in an interim period. In addition, the ASU adds clarifications to the accounting for franchise tax (or similar tax), which is partially based on income, evaluating tax basis of goodwill recognized from a business combination, and reflecting the effect of any enacted changes in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The ASU is effective for fiscal years beginning after December 15, 2020, and will be applied either retrospectively or prospectively based upon the applicable amendments. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements and related disclosures.

BUSINESS COMBINATIONS

12 Months Ended

Dec. 26, 2020

Business Combinations [Abstract]

BUSINESS COMBINATIONS

Distributed Bio

On December 31, 2020 (fiscal year 2021), the Company acquired Distributed Bio, Inc (Distributed Bio), a next-generation antibody discovery company with technologies specializing in enhancing the probability of success for delivering high-quality, readily formattable antibody fragments to support antibody and cell and gene therapy candidates to biopharmaceutical clients. The acquisition of Distributed Bio expands the Company’s capabilities with an innovative, large-molecule discovery platform, and creates an integrated, end-to-end platform for therapeutic antibody and cell and gene therapy discovery and development. The preliminary purchase price of Distributed Bio was approximately $83 million in cash, with additional contingent payments of up to $21 million based on future performance. The acquisition was funded through a combination of available cash and proceeds from the Company’s Credit Facility. This business will be reported as part of the Company’s DSA reportable segment. Due to the limited time between the acquisition date and the filing of this Annual Report on Form 10-K, it is not practicable for the Company to disclose the preliminary allocation of the purchase price to assets acquired and liabilities assumed. The Company incurred transaction and integration costs in connection with the acquisition of $1.2 million during fiscal year 2020, which were included in Selling, general and administrative expenses within the consolidated statements of income.

Cellero, LLC

On August 6, 2020, the Company acquired Cellero, LLC (Cellero), a provider of cellular products for cell therapy developers and manufacturers worldwide. The addition of Cellero enhances the Company’s unique, comprehensive solutions for the high-growth cell therapy market, strengthening the ability to help accelerate clients’ critical programs from basic research and proof-of-concept to regulatory approval and commercialization. It also expands the Company’s access to high-quality, human-derived biomaterials with Cellero’s donor sites in the United States. The purchase price for Cellero was $37.4 million in cash. The acquisition was funded through available cash. This business is reported as part of the Company’s RMS reportable segment.

The preliminary purchase price allocation of $36.9 million, net of $0.5 million of cash acquired was as follows:


	August 6, 2020
	(in thousands)
Trade receivables	$	1,500
Inventories	551
Other current assets (excluding cash)	182
Property, plant and equipment	1,648
Goodwill	19,457
Definite-lived intangible assets	16,230
Other long-term assets	849
Current liabilities	(1,360)
Deferred tax liabilities	(1,467)
Other long-term liabilities	(740)
Total purchase price allocation	$	36,850

The preliminary purchase price allocation is subject to change as additional information becomes available concerning the fair value and tax basis of the assets acquired and liabilities assumed, including certain contracts and obligations. From the date of the acquisition through December 26, 2020, the Company recorded measurement-period adjustments related to the acquisition that resulted in an immaterial change to the purchase price allocation on a consolidated basis. Any additional adjustments to the purchase price allocation will be made as soon as practicable but no later than one year from the date of acquisition.

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	14,740	13
Other intangible assets	1,490		3
Total definite-lived intangible assets	$	16,230	12

The goodwill resulting from the transaction, $10.8 million of which is deductible for tax purposes due to a prior asset acquisition, is primarily attributable to the potential growth of the Company’s RMS business from customers introduced through Cellero and the assembled workforce of the acquired business.

The Company incurred transaction and integration costs in connection with the acquisition of $2.7 million during fiscal year 2020, which were primarily included in Selling, general and administrative expenses within the consolidated statements of income.

Pro forma financial information as well as the disclosure of actual revenue and operating income (loss) have not been included because Cellero's financial results are not significant when compared to the Company’s consolidated financial results.

HemaCare Corporation

On January 3, 2020, the Company acquired HemaCare Corporation (HemaCare), a business specializing in the production of human-derived cellular products for the cell therapy market. The acquisition of HemaCare expands the Company’s comprehensive portfolio of early-stage research and manufacturing support solutions to encompass the production and customization of high-quality, human derived cellular products to better support clients’ cell therapy programs. The purchase price of HemaCare was $379.8 million in cash. The acquisition was funded through a combination of available cash and proceeds from the Company’s Credit Facility. This business is reported as part of the Company’s RMS reportable segment.

The purchase price allocation of $376.7 million, net of $3.1 million of cash acquired was as follows:


	January 3, 2020
	(in thousands)
Trade receivables	$	6,451
Inventories	8,468
Other current assets (excluding cash)	3,494
Property, plant and equipment	10,033
Goodwill	210,196
Definite-lived intangible assets	183,540
Other long-term assets	5,920
Current liabilities	(5,188)
Deferred tax liabilities	(38,529)
Other long-term liabilities	(7,664)
Total purchase price allocation	$	376,721

From the date of the acquisition through December 26, 2020, the Company recorded measurement-period adjustments related to the acquisition that resulted in an immaterial change to the purchase price allocation on a consolidated basis. No further adjustments will be made to the purchase price allocation.

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	170,390	19
Trade name	7,330		10
Other intangible assets	5,820		3
Total definite-lived intangible assets	$	183,540	18

The goodwill resulting from the transaction is primarily attributable to the potential growth of the Company’s RMS business from customers introduced through HemaCare and the assembled workforce of the acquired business. The goodwill attributable to HemaCare is not deductible for tax purposes.

The Company incurred transaction and integration costs in connection with the acquisition of $6.1 million and $3.3 million during fiscal years 2020 and 2019, respectively, which were primarily included in Selling, general and administrative expenses within the consolidated statements of income.

Beginning on January 3, 2020, HemaCare has been included in the operating results of the Company. HemaCare revenue and operating loss during fiscal year 2020 was $43.0 million and $8.1 million, respectively.

The following selected unaudited pro forma consolidated results of operations are presented as if the HemaCare acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition, which is December 30, 2018, after giving effect to certain adjustments. For fiscal year 2020, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $1.2 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments. For fiscal year 2019, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $12.8 million, additional interest expense on borrowings of $10.8 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.


	Fiscal Year
	2020		2019
	(in thousands)
	(unaudited)
Revenue	$	2,923,951	$	2,661,565
Net income attributable to common shareholders	368,800		245,423

These unaudited pro forma results of operations have been prepared for comparative purposes only, and they do not purport to be indicative of the results of operations that actually would have resulted had the acquisition occurred on the dates indicated or that may result in the future. No effect has been given for synergies, if any, that may be realized through the acquisition.

Citoxlab

On April 29, 2019, the Company acquired Citoxlab, a non-clinical CRO, specializing in regulated safety assessment services, non-regulated discovery services, and medical device testing. With operations in Europe and North America, the acquisition of Citoxlab further strengthens the Company’s position as a leading, global, early-stage CRO by expanding its scientific portfolio and geographic footprint, which enhances the Company’s ability to partner with clients across the drug discovery and development continuum. The purchase price for Citoxlab was $527.1 million in cash. The acquisition was funded through a combination of available cash and proceeds from the Company’s Credit Facility. This business is reported as part of the Company’s DSA reportable segment.

The purchase price allocation of $490.4 million, net of $36.7 million of cash acquired was as follows:


	April 29, 2019
	(in thousands)
Trade receivables	$	35,405
Inventories	5,282
Other current assets (excluding cash)	13,917
Property, plant and equipment	88,605
Goodwill	280,161
Definite-lived intangible assets	162,400
Other long-term assets	20,063
Deferred revenue	(15,278)
Current liabilities	(46,081)
Deferred tax liabilities	(27,458)
Other long-term liabilities	(22,624)
Redeemable noncontrolling interest	(4,035)
Total purchase price allocation	$	490,357

From the date of the acquisition through March 28, 2020, the Company recorded measurement-period adjustments related to the acquisition that resulted in an immaterial change to the purchase price allocation on a consolidated basis. No further adjustments will be made to the purchase price allocation.

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	134,600	13
Developed technology	19,900		3
Backlog	7,900		1
Total definite-lived intangible assets	$	162,400	12

The goodwill resulting from the transaction, $7.2 million of which is deductible for tax purposes due to a prior asset acquisition, is primarily attributable to the potential growth of the Company’s DSA business from customers introduced through Citoxlab and the assembled workforce of the acquired business.

The Company incurred transaction and integration costs in connection with the acquisition of $4.1 million and $20.7 million during fiscal years 2020 and 2019, respectively, which were primarily included in Selling, general and administrative expenses within the consolidated statements of income.

The following selected unaudited pro forma consolidated results of operations are presented as if the Citoxlab acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition, which is December 31, 2017, after giving effect to certain adjustments. For fiscal year 2019, these adjustments included additional amortization of intangible

assets and depreciation of fixed assets of $5.7 million, additional interest expense on borrowings of $1.2 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments. For fiscal year 2018, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $9.4 million, additional interest expense on borrowings of $4.1 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.


	Fiscal Year
	2019		2018
	(in thousands)
	(unaudited)
Revenue	$	2,683,610	$	2,442,283
Net income attributable to common shareholders	268,995		233,288

MPI Research

On April 3, 2018, the Company acquired MPI Research, a non-clinical CRO providing comprehensive testing services to biopharmaceutical and medical device companies worldwide. The acquisition enhances the Company’s position as a leading global early-stage CRO by strengthening its ability to partner with clients across the drug discovery and development continuum. The purchase price for MPI Research was $829.7 million in cash. The acquisition was funded by borrowings on the Credit Facility as well as the issuance of the Company’s 2026 Senior Notes. This business is reported as part of the Company’s DSA reportable segment.

The purchase price allocation of $800.8 million, net of $27.7 million of cash acquired and a final net working capital adjustment of $1.2 million, was as follows:


	April 3, 2018
	(in thousands)
Trade receivables	$	35,073
Inventories	4,463
Other current assets (excluding cash)	5,893
Property, plant and equipment	128,403
Goodwill	441,656
Definite-lived intangible assets	309,200
Other long-term assets	1,081
Deferred revenue	(23,926)
Current liabilities	(32,885)
Deferred tax liabilities	(65,945)
Other long-term liabilities	(2,213)
Total purchase price allocation	$	800,800

From the date of the acquisition through March 30, 2019, the Company recorded measurement-period adjustments related to the acquisition that resulted in an immaterial change to the purchase price allocation on a consolidated basis. No further adjustments will be made to the purchase price allocation.

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	264,900	13
Developed technology	23,400		3
Backlog	20,900		1
Total definite-lived intangible assets	$	309,200	12

The goodwill resulting from the transaction, $4.1 million of which is deductible for tax purposes due to a prior asset acquisition, is primarily attributable to the potential growth of the Company’s DSA business from customers introduced through MPI Research and the assembled workforce of the acquired business.

The Company incurred transaction and integration costs in connection with the acquisition of $16.5 million during fiscal year 2018, which were primarily included in Selling, general and administrative expenses within the consolidated statements of income. No significant integration costs were incurred in connection with the acquisition for fiscal years 2020 or 2019.

MPI Research revenue and operating income from April 3, 2018 through December 29, 2018 was $209.5 million and $33.4 million, respectively. Beginning on April 3, 2018, MPI Research has been included in the operating results of the Company.

The following selected unaudited pro forma consolidated results of operations are presented as if the MPI Research acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition, which is January 1, 2017, after giving effect to certain adjustments. For fiscal year 2018, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $14.1 million, additional interest expense on borrowings of $2.8 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.


	Fiscal Year
	2018
	(in thousands)
	(unaudited)
Revenue	$	2,328,213
Net income attributable to common shareholders	225,550

Other Acquisitions

On August 28, 2019, the Company acquired an 80% ownership interest in a supplier that supports the Company’s DSA reportable segment. The purchase price paid was approximately $23 million, net of a $4 million pre-existing relationship. The fair value of the net assets acquired included $13 million of goodwill, $12 million of other long-term assets, and $9 million for a 20% redeemable noncontrolling interest. The business is reported as part of the Company’s DSA reportable segment. Pro forma information and acquisition expenses have not been presented because such information is not material to the financial statements.

On January 11, 2018, the Company acquired KWS BioTest Limited (KWS BioTest). The acquisition enhances the Company’s discovery expertise, with complementary offerings that provide the Company’s customers with additional tools in the active therapeutic research areas of oncology and immunology. The purchase price paid was approximately $20 million. The fair value of the net assets acquired included $18 million of goodwill and $4 million of client relationships, which had a weighted average life of 12 years. The business is reported as part of the Company’s DSA reportable segment. Pro forma information and acquisition expenses have not been presented because such information is not material to the financial statements.

REVENUE FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 26, 2020

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregation of Revenue

The following table disaggregates the Company’s revenue by major business line and timing of transfer of products or services:


Timing of Revenue Recognition of Major Product/Services Lines:	2020		2019		2018
	(in thousands)
RMS
Services and products transferred over time	$	240,480	$	227,872	$	202,872
Services and products transferred at a point in time	330,672		309,217		316,810
Total RMS revenue	571,152		537,089		519,682
DSA
Services and products transferred over time	1,836,519		1,618,281		1,316,005
Services and products transferred at a point in time	909		714		849
Total DSA revenue	1,837,428		1,618,995		1,316,854
Manufacturing
Services and products transferred over time	174,254		142,896		128,287
Services and products transferred at a point in time	341,099		322,246		301,273
Total Manufacturing revenue	515,353		465,142		429,560
Total revenue	$	2,923,933	$	2,621,226	$	2,266,096

RMS

The RMS business generates revenue through the commercial production and sale of research models, research products, and the provision of services related to the maintenance and monitoring of research models and management of clients’ research operations. Revenue from the sale of research models and products is recognized at a point in time when the customer obtains control of the product, which may be upon shipment or upon delivery based on the shipping terms of a contract. Revenue generated from research models services is recognized over time and is typically based on a right-to-invoice measure of progress (output method) as invoiced amounts correspond directly to the value of the Company’s performance to date.

DSA

The Discovery and Safety Assessment business provides a full suite of integrated drug discovery services directed at the identification, screening and selection of a lead compound for drug development and offers a full range of safety assessment services including bioanalysis, drug metabolism, pharmacokinetics, toxicology and pathology. Discovery and Safety Assessment services revenue is generally recognized over time using the cost-to-cost or right to invoice measures of progress, primarily representing fixed fee service contracts and per unit service contracts, respectively.

Manufacturing

The Manufacturing business includes Microbial Solutions, which provides in vitro (non-animal) lot-release testing products, microbial detection products, and species identification services; Biologics Testing Services (Biologics), which performs specialized testing of biologics; and Avian Vaccine Services (Avian), which supplies specific-pathogen-free chicken eggs and chickens. Species identification service revenue is generally recognized at a point in time as identifications are completed by the Company. Biologics service revenue is generally recognized over time using the cost-to-cost measure of progress. Microbial Solutions and Avian product sales are generally recognized at a point in time when the customer obtains control of the product, which may be upon shipment or upon delivery based on the contractual shipping terms of a contract.

Transaction Price Allocated to Future Performance Obligations

The Company discloses the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of December 26, 2020. Excluded from the disclosure is the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed. The Company has assessed future performance obligations with respect to the COVID-19 pandemic uncertainties and believes there is an insignificant impact on the ability to meet future performance obligations and the amount of revenue to be recognized.

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of December 26, 2020:


	Revenue Expected to be Recognized in Future Periods
	Less than 1 Year		1 to 3 Years		4 to 5 Years		Total
	(in thousands)
DSA	$	216,099	$	128,005	$	4,429	$	348,533
Manufacturing	8,491		6,212		—		14,703
Total	$	224,590	$	134,217	$	4,429	$	363,236

Contract Balances from Contracts with Customers

The timing of revenue recognition, billings and cash collections results in billed receivables (client receivables), contract assets (unbilled revenue), and contract liabilities (current and long-term deferred revenue and customer contract deposits) on the consolidated balance sheets. The Company’s payment terms are generally 30 days in the United States and consistent with prevailing practice in international markets. A contract asset is recorded when a right to consideration in exchange for goods or services transferred to a customer is conditioned other than the passage of time. Client receivables are recorded separately from contract assets since only the passage of time is required before consideration is due. A contract liability is recorded when consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a contract. Contract liabilities are recognized as revenue after control of the products or services is transferred to the customer and all revenue recognition criteria have been met. The following table provides information about client receivables, contract assets, and contract liabilities from contracts with customers:


	December 26, 2020		December 28, 2019
	(in thousands)
Balances from contracts with customers:
Client receivables	$	489,042	$	395,740
Contract assets (unbilled revenue)	135,400		121,957
Contract liabilities (current and long-term deferred revenue)	227,417		192,788
Contract liabilities (customer contract deposits)	42,244		33,080

When the Company does not have the unconditional right to advanced billings, both advanced client payments and unpaid advanced client billings are excluded from deferred revenue, with the advanced billings also being excluded from client receivables. The Company excluded approximately $16 million and $27 million of unpaid advanced client billings from both client receivables and deferred revenue in the accompanying consolidated balance sheets as of December 26, 2020 and December 28, 2019, respectively. Advanced client payments of approximately $42 million and $33 million have been presented as customer contract deposits within other current liabilities in the accompanying consolidated balance sheets as of December 26, 2020 and December 28, 2019, respectively.

Other changes in the contract asset and the contract liability balances during fiscal years 2020 and 2019 were as follows:

(i) Changes due to business combinations:

See Note 2. “Business Combinations” for the HemaCare acquisition on January 3, 2020, the Cellero acquisition on August 6, 2020, and the Citoxlab acquisition on April 29, 2019.

(ii) Cumulative catch-up adjustments to revenue that affect the corresponding contract asset or contract liability, including adjustments arising from a change in the measure of progress, a change in an estimate of the transaction price (including any changes in the assessment of whether an estimate of variable consideration is constrained), or a contract modification:

During fiscal years 2020 and 2019, an immaterial cumulative catch-up adjustment to revenue was recorded.

(iii) A change in the time frame for a right to consideration to become unconditional (that is, for a contract asset to be recorded as a client receivable):

Approximately 90% of unbilled revenue as of December 28, 2019 was billed during fiscal year 2020. Approximately 95% of unbilled revenue as of December 29, 2018 of $105 million was billed during fiscal year 2019.

(iv) A change in the time frame for a performance obligation to be satisfied (that is, for the recognition of revenue arising from a contract liability):

Approximately 90% of contract liabilities as of December 28, 2019 were recognized as revenue during fiscal year 2020. Approximately 85% of contract liabilities as of December 29, 2018 of $180 million were recognized as revenue during fiscal year 2019.

- 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
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 26, 2020

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

The Company’s three reportable segments are Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing). Asset information on a reportable segment basis is not disclosed as this information is not separately identified and internally reported to the Company’s Chief Operating Decision Maker.

The following table presents revenue and other financial information by reportable segment:


	2020		2019		2018
	(in thousands)
RMS
Revenue	$	571,152	$	537,089	$	519,682
Operating income	102,706		133,912		136,468
Depreciation and amortization	37,080		19,197		19,469
Capital expenditures	29,487		26,989		35,172
DSA
Revenue	$	1,837,428	$	1,618,995	$	1,316,854
Operating income	325,959		258,903		227,577
Depreciation and amortization	168,922		151,139		112,976
Capital expenditures	105,653		86,843		73,425
Manufacturing
Revenue	$	515,353	$	465,142	$	429,560
Operating income	181,494		145,420		136,212
Depreciation and amortization	25,904		23,584		22,529
Capital expenditures	26,287		23,617		23,323

The following tables present reconciliations of segment operating income, depreciation and amortization, and capital expenditures to the respective consolidated amounts:


	Operating Income						Depreciation and Amortization
	2020		2019		2018		2020		2019		2018
	(in thousands)
Total reportable segments	$	610,159	$	538,235	$	500,257	$	231,906	$	193,920	$	154,974
Unallocated corporate	(177,430)		(187,084)		(168,874)		3,018		4,175		6,805
Total consolidated	$	432,729	$	351,151	$	331,383	$	234,924	$	198,095	$	161,779


	Capital Expenditures
	2020		2019		2018
	(in thousands)
Total reportable segments	$	161,427	$	137,449	$	131,920
Unallocated corporate	5,133		3,065		8,134
Total consolidated	$	166,560	$	140,514	$	140,054

Revenue for each significant product or service offering is as follows:


	2020		2019		2018
	(in thousands)
RMS	$	571,152	$	537,089	$	519,682
DSA	1,837,428		1,618,995		1,316,854
Manufacturing	515,353		465,142		429,560
Total revenue	$	2,923,933	$	2,621,226	$	2,266,096

A summary of unallocated corporate expense consists of the following:


	2020		2019		2018
	(in thousands)
Stock-based compensation	$	34,111	$	37,855	$	32,068
Compensation, benefits, and other employee-related expenses	73,814		73,893		69,191
External consulting and other service expenses	26,561		16,639		18,652
Information technology	18,912		16,080		12,463
Depreciation	3,018		4,175		6,805
Acquisition and integration	13,995		26,877		16,295
Other general unallocated corporate	7,019		11,565		13,400
Total unallocated corporate expense	$	177,430	$	187,084	$	168,874

Other general unallocated corporate expense consists of costs associated with departments such as senior executives, corporate accounting, legal, tax, human resources, treasury, and investor relations.

Revenue and long-lived assets by geographic area are as follows:


	U.S.		Europe		Canada		Asia Pacific		Other		Consolidated
	(in thousands)
2020
Revenue	$	1,627,149	$	829,312	$	306,259	$	155,086	$	6,127	$	2,923,933
Long-lived assets	627,871		286,229		145,410		62,931		1,917		1,124,358
2019
Revenue	$	1,471,097	$	726,421	$	271,987	$	146,218	$	5,503	$	2,621,226
Long-lived assets	602,654		253,665		127,495		60,213		101		1,044,128
2018
Revenue	$	1,267,620	$	643,957	$	206,382	$	142,495	$	5,642	$	2,266,096
Long-lived assets	597,223		205,185		74,051		56,262		156		932,877

Included in the Other category above are operations located in Brazil and Israel. Revenue represents sales originating in entities physically located in the identified geographic area. Long-lived assets consist of property, plant, and equipment, net.

- 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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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

SUPPLEMENTAL BALANCE SHEET INFORMATOIN

12 Months Ended

Dec. 26, 2020

Supplemental Balance Sheet Information [Abstract]

SUPPLEMENTAL BALANCE SHEET INFORMATION

The composition of trade receivables, net is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Client receivables	$	489,042	$	395,740
Unbilled revenue	135,400		121,957
Total	624,442		517,697
Less: Allowance for doubtful accounts	(6,702)		(3,664)
Trade receivables, net	$	617,740	$	514,033

Net provisions of $6.4 million, $3.0 million, and $2.1 million were recorded to the allowance for doubtful accounts in fiscal years 2020, 2019, and 2018, respectively.

The composition of inventories is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Raw materials and supplies	$	28,317	$	24,613
Work in process	36,755		35,852
Finished products	120,623		100,195
Inventories	$	185,695	$	160,660

The composition of other current assets is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Prepaid income tax	$	68,462	$	54,358
Short-term investments	1,024		941
Restricted cash	3,074		431
Other	—		300
Other current assets	$	72,560	$	56,030

The composition of property, plant and equipment, net is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Land	$	61,031	$	63,077
Buildings (1)	1,059,641		1,006,357
Machinery and equipment (1)	661,124		585,965
Leasehold improvements	104,967		84,630
Furniture and fixtures	31,489		28,304
Computer hardware and software (1)	193,622		179,865
Vehicles (1)	6,152		5,561
Construction in progress	92,325		67,939
Total	2,210,351		2,021,698
Less: Accumulated depreciation	(1,085,993)		(977,570)
Property, plant and equipment, net	$	1,124,358	$	1,044,128

(1) These balances include assets under finance leases. See Note 16, “Leases.”

Depreciation expense in fiscal years 2020, 2019 and 2018 was $123.0 million, $108.6 million and $96.9 million, respectively.

The composition of other assets is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Venture capital investments	$	197,100	$	108,983
Strategic equity investments	24,704		13,996
Life insurance policies	43,827		38,207
Other long-term income tax assets	23,485		20,570
Restricted cash	1,621		1,601
Long-term pension assets	31,915		1,741
Other	29,974		27,517
Other assets	$	352,626	$	212,615

The composition of other current liabilities is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Current portion of operating lease right-of-use liabilities	$	24,674	$	20,357
Accrued income taxes	24,884		26,066
Customer contract deposits	42,244		33,080
Other	10,675		11,095
Other current liabilities	$	102,477	$	90,598

The composition of other long-term liabilities is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
U.S. Transition Tax	$	48,781	$	52,066
Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plan	74,233		80,833
Long-term deferred revenue	19,475		20,983
Other	62,726		29,051
Other long-term liabilities	$	205,215	$	182,933

VENTURE CAPITAL INVESTMENTS AND STRATEGIC EQUITY INVESTMENTS	12 Months Ended
	Dec. 26, 2020
Marketable Securities and Equity-Method Affiliates [Abstract]
VENTURE CAPITAL INVESTMENTS AND STRATEGIC EQUITY INVESTMENTS	VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS Venture capital investments were $197.1 million and $109.0 million as of December 26, 2020 and December 28, 2019, respectively. The Company’s total commitment to the venture capital funds as of December 26, 2020 was $139.9 million, of which the Company funded $95.3 million through that date. During fiscal years 2020, 2019, and 2018, the Company received distributions totaling $27.6 million, $11.4 million, and $18.2 million, respectively. During fiscal years 2020, 2019, and 2018, the Company recognized gains related to the venture capital investments of $100.4 million, $20.7 million and $15.9 million, respectively. Gains in fiscal year 2020 predominantly resulted from increases in fair value from publicly-held investments, which included initial public offerings of certain portfolio companies. As of December 26, 2020 and December 28, 2019, the Company’s consolidated retained earnings included $76.8 million and $20.6 million, respectively, of the undistributed earnings related to these investments, net of tax. The Company also invests, with minority positions, directly in equity of predominantly privately-held companies. Strategic equity investments were $24.7 million and $14.0 million as of December 26, 2020 and December 28, 2019, respectively. The Company recognized insignificant gains and losses related to these investments for fiscal years 2020 and 2019.

FAIR VALUE

12 Months Ended

Dec. 26, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE

Assets and liabilities measured at fair value on a recurring basis are summarized below:


	December 26, 2020
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	2,273	$	—	$	2,273
Other assets:
Life insurance policies	—		35,770		—		35,770
Total assets measured at fair value	$	—	$	38,043	$	—	$	38,043

Other liabilities measured at fair value:
Contingent consideration	—		—		2,328		2,328

Total liabilities measured at fair value	$	—	$	—	$	2,328	$	2,328


	December 28, 2019
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	55,278	$	—	$	55,278
Other assets:
Life insurance policies	—		30,454		—		30,454
Total assets measured at fair value	$	—	$	85,732	$	—	$	85,732

Other current liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	712	$	712
Foreign currency forward contract	—		876		—		876
Total liabilities measured at fair value	$	—	$	876	$	712	$	1,588

During fiscal years 2020 and 2019, there were no transfers between fair value levels.

Contingent Consideration

The following table provides a rollforward of the contingent consideration related to the Company’s business combinations.


	Fiscal Year
	2020		2019
	(in thousands)
Beginning balance	$	712	$	3,033
Additions	2,131		2,869
Payments	(230)		(5,252)
Total gains or losses (realized/unrealized):
Foreign currency translation	183		62
Reversal of previously recorded contingent liability and change in fair value	(468)		—
Ending balance	$	2,328	$	712

The unobservable inputs used in the fair value measurement of the Company’s contingent consideration are the probabilities of successful achievement of certain financial targets and a discount rate. Increases or decreases in any of the probabilities of success would result in a higher or lower fair value measurement, respectively. Increases or decreases in the discount rate would result in a lower or higher fair value measurement, respectively.

Debt Instruments

The book value of the Company’s term and revolving loans, which are variable rate loans carried at amortized cost, approximates the fair value based on current market pricing of similar debt. As the fair value is based on significant other observable inputs, including current interest and foreign currency exchange rates, it is deemed to be Level 2 within the fair value hierarchy.

The book value of the Company’s 2026 and 2028 Senior Notes is a fixed rate obligation carried at amortized cost. Fair value is based on quoted market prices as well as borrowing rates available to the Company. As the fair value is based on significant other observable outputs, it is deemed to be Level 2 within the fair value hierarchy. The book value and fair value of the Company’s 2026 and 2028 Senior Notes is summarized below:


	December 26, 2020				December 28, 2019
	Book Value		Fair Value		Book Value		Fair Value
2026 Senior Notes	$	500,000	$	523,100	$	500,000	$	537,500
2028 Senior Notes	500,000		523,750		500,000		510,000

- 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

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 26, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table provides a rollforward of the Company’s goodwill:


			Adjustments to Goodwill						Adjustments to Goodwill
	December 29, 2018		Acquisitions		Foreign Exchange		December 28, 2019		Acquisitions		Foreign Exchange		December 26, 2020
	(in thousands)
RMS	$	56,968	$	—	$	(382)	$	56,586	$	229,654	$	1,519	$	287,759
DSA	2,056,470		293,380		373		2,350,223		(629)		33,536		2,383,130
Manufacturing	138,695		—		61		138,756		—		4,523		143,279
Gross carrying amount	2,252,133		293,380		52		2,545,565		229,025		39,578		2,814,168
Accumulated impairment loss - DSA	(1,005,000)		—		—		(1,005,000)		—		—		(1,005,000)
Goodwill	$	1,247,133					$	1,540,565					$	1,809,168

Based on the Company’s quantitative goodwill impairment test, which was performed in the fourth quarter for each of the fiscal years 2020, 2019 and 2018, the fair value of each reporting unit exceeded the reporting unit’s book value and, therefore, goodwill was not impaired.

The increase in goodwill during fiscal year 2020 related primarily to the acquisitions of HemaCare and Cellero in the RMS reportable segment. The increase in goodwill during fiscal year 2019 related primarily to the acquisition of Citoxlab in the DSA reportable segment.

Intangible Assets, Net

The following table displays intangible assets, net by major class:


	December 26, 2020						December 28, 2019
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Backlog	$	29,233	$	(29,233)	$	—	$	28,865	$	(26,895)	$	1,970
Technology	130,907		(81,305)		49,602		122,106		(57,737)		64,369
Trademarks and trade names	15,870		(5,648)		10,222		8,430		(4,901)		3,529
Other	20,903		(14,633)		6,270		18,279		(12,307)		5,972
Other intangible assets	196,913		(130,819)		66,094		177,680		(101,840)		75,840
Client relationships	1,137,331		(415,826)		721,505		934,668		(321,095)		613,573
Intangible assets	$	1,334,244	$	(546,645)	$	787,599	$	1,112,348	$	(422,935)	$	689,413

The increase in intangible assets, net during fiscal year 2020 related primarily to the acquisitions of HemaCare and Cellero.

Amortization expense of definite-lived intangible assets, including client relationships, for fiscal years 2020, 2019 and 2018 was $111.9 million, $89.5 million and $64.8 million, respectively. As of December 26, 2020, estimated amortization expense for intangible assets for each of the next five fiscal years is expected to be as follows:


Fiscal Year	Amortization Expense
	(in thousands)
2021	$	104,272
2022	91,877
2023	83,651
2024	76,291
2025	71,915

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS

12 Months Ended

Dec. 26, 2020

Debt Disclosure [Abstract]

LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS

Long-term debt, net and finance leases consists of the following:


	December 26, 2020		December 28, 2019
	(in thousands)
Term loans	$	146,875	$	193,750
Revolving facility	814,752		676,134
2026 Senior Notes	500,000		500,000
2028 Senior Notes	500,000		500,000
Other debt	3,457		5,781
Finance leases (Note 16)	29,047		30,527
Total debt and finance leases	1,994,131		1,906,192
Less:
Current portion of long-term debt	47,196		35,548
Current portion of finance leases (Note 16)	3,018		2,997
Current portion of long-term debt and finance leases	50,214		38,545
Long-term debt and finance leases	1,943,917		1,867,647
Debt discount and debt issuance costs	(14,346)		(17,981)
Long-term debt, net and finance leases	$	1,929,571	$	1,849,666

The acquisition of Distributed Bio on December 31, 2020 for approximately $83 million was funded through a combination of available cash and proceeds from the Company’s Credit Facility under the multi-currency revolving facility. The increased borrowings occurred subsequent to December 26, 2020 and are not reflected in the table above.

As of December 26, 2020 and December 28, 2019, the weighted average interest rate on the Company’s debt was 3.11% and 3.46%, respectively.

Term Loans and Revolving Facility

On March 26, 2018, the Company amended and restated its $1.65 billion credit facility creating a $2.3 billion credit facility (Credit Facility). The amendment extended the maturity date and provided for a $750 million term loan and a $1.55 billion multi-currency revolving facility. The amendment was accounted for as a debt modification. In connection with the transaction, the Company expensed $1.0 million of debt issuance costs recorded within Interest expense in the accompanying consolidated statements of income for the year ended 2018. The term loan facility matures in 19 quarterly installments with the last installment due March 26, 2023. The revolving facility matures on March 26, 2023, and requires no scheduled payment before that date. On September 25, 2019, the Company amended and restated the Credit Facility for certain administrative matters.

On October 23, 2019, the Company prepaid $500.0 million of the term loan with proceeds from a $500.0 million unregistered private offering (see 2028 Senior Notes Offering below) which was treated as a debt modification. Additionally, on November 4, 2019, the Company amended and restated the Credit Facility to increase the multi-currency revolving facility by $500.0 million, from $1.55 billion to $2.05 billion. In connection with these transactions, the Company capitalized $0.5

million within Long-term debt, net and finance leases in the accompanying consolidated balance sheets and expensed $1.6 million of debt issuance costs recorded within Interest expense in the accompanying consolidated statements of income for the year ended 2019. Under specified circumstances, the Company has the ability to increase the term loan and/or revolving facility by up to $1.0 billion in the aggregate.

The interest rates applicable to the term loan and revolving facility under the Credit Facility are, at the Company’s option, equal to either the base rate (which is the higher of (1) the prime rate, (2) the federal funds rate plus 0.50%, or (3) the one-month adjusted LIBOR rate plus 1.0%) or the adjusted LIBOR rate, plus an interest rate margin based upon the Company’s leverage ratio.

The Credit Facility includes certain customary representations and warranties, events of default, notices of material adverse changes to the Company’s business and negative and affirmative covenants. These covenants include (1) maintenance of a ratio of consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) less capital expenditures to consolidated cash interest expense, for any period of four consecutive fiscal quarters, of no less than 3.50 to 1.0 as well as (2) maintenance of a ratio of consolidated indebtedness to consolidated EBITDA for any period of four consecutive fiscal quarters, of no more than 4.00 to 1.0. As of December 26, 2020, the Company was compliant with all covenants.

The obligations of the Company under the Credit Facility are collateralized by substantially all of the assets of the Company.

During fiscal years 2020 and 2019, the Company had multiple U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Company’s Credit Facility, which ranged from $300 million to $400 million each. This resulted in foreign currency gains of $11.9 million during fiscal 2020 and foreign currency losses of $9.6 million during fiscal year 2019 related to the remeasurement of the underlying debt, which were recognized in Other income, net. The Company entered into foreign exchange forward contracts to limit its foreign currency exposures related to these borrowings and recognized losses of $9.3 million and gains of $18.7 million during fiscal years 2020 and 2019, respectively, within Interest expense. As of December 26, 2020, the Company did not have any outstanding borrowings in a currency different than its respective functional currency. See Note 14, “Foreign Currency Contracts”, for further discussion.

Base Indenture for Senior Notes Offerings

On April 3, 2018, the Company entered into an indenture (Base Indenture) with MUFG Union Bank, N.A., (Trustee). The purpose of the Indenture was to allow the Company the ability to issue senior notes. The Company has entered into two supplemental indentures in connection with two unregistered offerings, described below.

The Indenture contains certain covenants including, but not limited to, limitations and restrictions on the ability of the Company and its U.S. subsidiaries to (i) create certain liens, (ii) enter into any Sale and Leaseback Transaction (as defined in the Indenture) with respect to any property, and (iii) merge, consolidate, sell or otherwise dispose of all or substantially all of their assets. These covenants are subject to a number of conditions, qualifications, exceptions and limitations. Any event of default, as defined, could result in the acceleration of the repayment of the obligations.

2026 Senior Notes Offering

On April 3, 2018, the Company entered into the first supplemental indenture (First Supplemental Indenture) with the Trustee in connection with an offering of $500 million in aggregate principal amount of the Company’s 5.5% Senior Notes (2026 Senior Notes), due in 2026, in an unregistered offering. Under the terms of the First Supplemental Indenture, interest on the Senior Notes is payable semi-annually on April 1 and October 1, beginning on October 1, 2018. The 2026 Senior Notes are guaranteed fully and unconditionally, jointly and severally on a senior unsecured basis by the Company and certain of its U.S. subsidiaries.

The Company may redeem all or part of the 2026 Senior Notes at any time prior to April 1, 2021, at its option, at a redemption price equal to 100.0% of the principal amount of such Senior Notes plus the Applicable Premium (as defined in the First Supplemental Indenture). The Company may also redeem up to 40.0% of the Senior Notes with the proceeds of certain equity offerings completed before April 1, 2021, at a redemption price equal to 105.5% of the principal amount of such 2026 Senior Notes. On or after April 1, 2021, the Company may on any one or more occasions redeem all or a part of the 2026 Senior Notes, at the redemption prices specified in the Indenture based on the applicable date of redemption. Upon the occurrence of a Change of Control Triggering Event (as defined in the Indenture), the Company will be required to offer to repurchase the 2026 Senior Notes at a purchase price equal to 101.0% of the aggregate principal amount of such 2026 Senior Notes. Any redemption of the 2026 Senior Notes would also require settlement of accrued and unpaid interest, if any, up to but excluding the redemption date.

Net proceeds from the 2026 Senior Notes of $493.8 million were used to partially repay the outstanding revolving credit facility on April 3, 2018 as well as fund the acquisition of MPI Research.

2028 Senior Notes Offering

On October 23, 2019, the Company entered into a second supplemental indenture (Second Supplemental Indenture) with the Trustee in connection with the offering of $500 million in aggregate principal amount of the Company’s 4.25% Senior Notes (2028 Senior Notes), due in 2028, in an unregistered offering. Under the terms of the Second Supplemental Indenture, interest on the 2028 Senior Notes is payable semi-annually on May 1 and November 1, beginning on May 1, 2020. The 2028 Senior Notes are guaranteed fully and unconditionally, jointly and severally on a senior unsecured basis by the Company and certain of its U.S. subsidiaries. In connection with the transaction, the Company incurred approximately $6 million of debt issuance costs, which were capitalized upon the 2028 Senior Notes issuance on October 23, 2019, and was recorded within Long-term debt, net and finance leases in the accompanying consolidated balance sheets.

The Company may redeem all or part of the 2028 Senior Notes at any time prior to May 1, 2023, at its option, at a redemption price equal to 100% of the principal amount of such 2028 Senior Notes plus the Applicable Premium (as defined in the Indenture). The Company may also redeem up to 40% of the 2028 Senior Notes with the proceeds of certain equity offerings completed before May 1, 2023, at a redemption price equal to 104.25% of the principal amount of such 2028 Senior Notes. On or after May 1, 2023, the Company may on any one or more occasions redeem all or a part of the 2028 Senior Notes, at the redemption prices specified in the Indenture based on the applicable date of redemption. Upon the occurrence of a Change of Control Triggering Event (as defined in the Indenture), the Company will be required to offer to repurchase the Senior Notes at a purchase price equal to 101% of the aggregate principal amount of such Senior Notes. Any redemption of the Senior Notes would also require settlement of accrued and unpaid interest, if any, up to but excluding the redemption date.

Net proceeds from the 2028 Senior Notes of approximately $494 million and available cash were used to prepay a portion of the term loan on October 23, 2019.

Principal Maturities

Principal maturities of existing debt for the periods set forth in the table below, are as follows:


	Principal
	(in thousands)
2021	$	47,196
2022	93,963
2023	821,221
2024	487
2025	233
Thereafter	1,001,984
Total	$	1,965,084

Letters of Credit

As of December 26, 2020 and December 28, 2019, the Company had $16.0 million and $7.5 million, respectively, in outstanding letters of credit.

EQUITY AND NONCONTROLLING INTERESTS

12 Months Ended

Dec. 26, 2020

Equity [Abstract]

EQUITY AND NONCONTROLLING INTERESTS

Earnings Per Share

The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Numerator:
Income from continuing operations, net of income taxes	$	365,306	$	254,061	$	227,218
Income from discontinued operations, net of income taxes	—		—		1,506
Less: Net income attributable to noncontrolling interests	1,002		2,042		2,351
Net income attributable to common shareholders	$	364,304	$	252,019	$	226,373

Denominator:
Weighted-average shares outstanding—Basic	49,550		48,730		47,947
Effect of dilutive securities:
Stock options, restricted stock, restricted stock units and performance share units	1,061		963		1,071
Weighted-average shares outstanding—Diluted	50,611		49,693		49,018

Options to purchase 0.2 million shares, 0.4 million shares, and 0.5 million shares for fiscal years 2020, 2019, and 2018, respectively, as well as a non-significant number of restricted stock, RSUs, and performance share units (PSUs), were not included in computing diluted earnings per share because their inclusion would have been anti-dilutive. Basic weighted-average shares outstanding for fiscal years 2020, 2019, and 2018 excluded the impact of 0.9 million shares, 1.0 million shares and 1.0 million shares, respectively, of non-vested restricted stock, RSUs and PSUs.

Treasury Shares

The Company’s Board of Directors has authorized a $1.3 billion stock repurchase program. Under its authorized stock repurchase program, the Company did not repurchase any shares in fiscal years 2020, 2019, and 2018. As of December 26, 2020, the Company had $129.1 million remaining on the authorized stock repurchase program.

The Company’s stock-based compensation plans permit the netting of common stock upon vesting of restricted stock, RSUs, and PSUs in order to satisfy individual statutory tax withholding requirements. The Company acquired 0.1 million shares for $24.0 million, 0.1 million shares for $18.1 million, and 0.1 million shares for $13.8 million in fiscal years 2020, 2019, and 2018, respectively, from such netting.

In fiscal years 2020 and 2019, the Company’s Board of Directors approved the cancellation and return to the Company’s authorized and unissued capital stock of 0.1 million treasury shares totaling $24.0 million and 0.1 million treasury shares totaling $18.1 million, respectively, reducing treasury stock on the Company’s consolidated balance sheet. The Company allocated the excess of the repurchase price over the par value of shares acquired to reduce both retained earnings and additional paid-in capital for $19.2 million and $4.8 million, respectively, in fiscal year 2020 and $13.8 million and $4.3 million, respectively, in fiscal year 2019.

Accumulated Other Comprehensive Income (Loss)

Changes to each component of accumulated other comprehensive income (loss), net of income taxes, are as follows:


	Foreign Currency Translation Adjustment and Other		Pension and Other Post-Retirement Benefit Plans		Total
	(in thousands)
December 29, 2018	$	(102,199)	$	(70,504)	$	(172,703)
Other comprehensive income (loss) before reclassifications (1)	14,444		(25,165)		(10,721)
Amounts reclassified from accumulated other comprehensive income	—		1,772		1,772
Net current period other comprehensive income (loss)	14,444		(23,393)		(8,949)
Income tax (benefit)	(177)		(3,456)		(3,633)
December 28, 2019	(87,578)		(90,441)		(178,019)
Other comprehensive income before reclassifications (1)	20,909		15,747		36,656
Amounts reclassified from accumulated other comprehensive income	—		17,861		17,861
Net current period other comprehensive income	20,909		33,608		54,517
Income tax expense	7,215		8,157		15,372
December 26, 2020	$	(73,884)	$	(64,990)	$	(138,874)
(1) The impact of the foreign currency translation adjustment to other comprehensive income (loss) before reclassifications was primarily due to the effect of changes in foreign currency exchange rates of the Euro, British Pound, Canadian Dollar, and Chinese Yuan Renminbi and to a lesser extent due to the impact of changes in the Japanese Yen and Brazilian Real.

Nonredeemable Noncontrolling Interest

The Company has an investment in an entity whose financial results are consolidated in the Company’s financial statements, as it has the ability to exercise control over this entity. The interest of the noncontrolling party in this entity has been recorded as noncontrolling interest within Equity in the accompanying consolidated balance sheets. The activity within the nonredeemable noncontrolling interest during fiscal years 2020, 2019, and 2018 was not significant.

Redeemable Noncontrolling Interests

The Company holds a 92% ownership interest in Vital River, a commercial provider of research models and related services in China as of December 26, 2020. In 2019, the Company purchased an additional 5% equity interest in Vital River for $7.9 million. The Company recorded a $0.8 million gain in equity equal to the excess fair value of the 5% equity interest over the purchase price. Concurrent with the transaction, the pre-existing agreement was further amended to provide the Company with the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining 8% equity interest (redeemable noncontrolling interest) at a contractually defined redemption value, subject to a redemption floor, which represents a derivative embedded within the equity instrument. These rights are exercisable beginning in 2022 and are accelerated in certain events. In 2019, the Company recorded a charge of $2.2 million in Selling, general and administrative expenses within the consolidated statements of income, equal to the excess fair value of the hybrid instrument (equity interest with embedded derivative) over the fair value of the 8% equity interest. The redeemable noncontrolling interest is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the contractually defined redemption value ($16.3 million as of December 26, 2020) and the carrying amount adjusted for net income (loss) attributable to the noncontrolling interest. As the noncontrolling interest holders have the ability to require the Company to purchase the remaining 8% interest, the noncontrolling interest is classified in the mezzanine section of the consolidated balance sheets, which is presented above the equity section and below liabilities. The amount that the Company could be required to pay to purchase the remaining 8% equity interest is not limited.

As part of the Citoxlab acquisition in 2019, the Company acquired an approximate 90% equity interest in a subsidiary that was fully consolidated under the voting interest model, which included an approximate 10% redeemable noncontrolling interest. In February 2020, the Company purchased the remaining approximate 10% noncontrolling interest for approximately $4 million and assumption of a contingent consideration liability of approximately $2 million payable to the former shareholders. See Note 7. “Fair Value”.

In 2019, the Company acquired an 80% equity interest that is fully consolidated under the voting interest model, which included a 20% redeemable noncontrolling interest. The Company has the right to purchase, and the noncontrolling interest holders have the right to sell, the remaining 20% equity interest at its appraised value. These rights are exercisable beginning in 2022. The redeemable noncontrolling interest is measured at the greater of the amount that would be paid if settlement occurred as of the balance sheet date based on the appraised value and the carrying amount adjusted for net income (loss) attributable to the noncontrolling interest or a predetermined floor value. As the noncontrolling interest holders have the ability to require the Company to purchase the remaining 20% interest, the noncontrolling interest is classified in the mezzanine section of the consolidated balance sheets, which is presented above the equity section and below liabilities. The amount that the Company could be required to pay to purchase the remaining 20% equity interest is not limited.

The following table provides a rollforward of the activity related to the Company’s redeemable noncontrolling interests:


	Fiscal Year
	2020		2019
	(in thousands)
Beginning balance	$	28,647	$	18,525
Purchase of a 10% redeemable noncontrolling interest	(3,732)		—
Adjustment to Vital River redemption value	—		1,451
Purchase of Vital River 5% equity interest	—		(8,745)
Change in fair value of Vital River 8% equity interest, included in additional paid-in capital	—		2,708
Modification of Vital River 8% purchase option	—		2,196
Acquisition of an approximate 10% noncontrolling interest through acquiring Citoxlab	—		4,035
Acquisition of a 20% noncontrolling interest	—		8,740
Net loss attributable to noncontrolling interests	(852)		(42)
Foreign currency translation	1,436		(221)
Ending balance	$	25,499	$	28,647

INCOME TAXES

12 Months Ended

Dec. 26, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of income from continuing operations before income taxes and the related provision for income taxes are presented below:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Income from continuing operations before income taxes:
U.S.	$	226,935	$	108,326	$	95,062
Non-U.S.	220,179		195,758		186,619
Total income from continuing operations, before income taxes	$	447,114	$	304,084	$	281,681
Income tax provision (benefit):
Current:
Federal	$	38,192	$	18,101	$	17,390
Foreign	35,410		43,489		38,557
State	6,623		9,915		8,837
Total current	80,225		71,505		64,784
Deferred:
Federal	386		(3,226)		(7,145)
Foreign	5,583		(17,111)		(4,104)
State	(4,386)		(1,145)		928
Total deferred	1,583		(21,482)		(10,321)
Total provision for income taxes	$	81,808	$	50,023	$	54,463

Included in the fiscal year 2019 income tax expense of $50.0 million is a $20.6 million tax benefit for the recognition of $315.5 million of historical foreign net operating loss deferred tax assets, partially offset by a $294.9 million valuation allowance. Prior to 2019, these deferred tax assets were not recognized as the Company believed the ability to utilize the net operating losses was remote. As a result of both U.S. Tax Reform and European tax legislation, the Company made changes in 2019 to its financing structure, resulting in the ability to utilize a portion of the net operating losses previously considered remote in nature.

Reconciliations of the statutory U.S. federal income tax rate to effective tax rates are as follows:


	Fiscal Year
	2020		2019		2018
U.S. statutory income tax rate	21.0	%	21.0	%	21.0	%
Foreign tax rate differences	1.2		2.7		0.5
State income taxes, net of federal tax benefit	0.4		2.6		2.4
Non-deductible compensation	1.0		1.7		1.0
Research tax credits and enhanced deductions	(3.4)		(4.4)		(2.9)
Stock-based compensation	(2.7)		(2.2)		(2.1)
Impact of tax uncertainties	(0.2)		(2.6)		(1.1)
Tax on unremitted earnings	1.3		1.7		1.2
Impact of acquisitions and restructuring	0.5		2.7		0.3
Net operating loss deferred tax asset recognition, net of valuation allowance (NOL DTA)	(0.1)		(6.8)		—
Other	(0.7)		0.1		(1.0)
Effective income tax rate	18.3	%	16.5	%	19.3	%

The components of deferred tax assets and liabilities are as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Deferred tax assets:
Compensation	$	32,118	$	40,582
Accruals and reserves	17,970		13,687
Net operating loss and credit carryforwards	406,085		367,269
Operating lease liability	43,646		33,785
Other	4,253		7,181
Valuation allowance	(334,845)		(309,962)
Total deferred tax assets	169,227		152,542
Deferred tax liabilities:
Goodwill and other intangibles	(202,430)		(174,847)
Depreciation related	(33,277)		(29,317)
Venture capital investments	(32,848)		(12,806)
Tax on unremitted earnings	(27,707)		(17,282)
Right-of-use assets	(43,557)		(34,953)
Other	(8,710)		(5,961)
Total deferred tax liabilities	(348,529)		(275,166)
Net deferred taxes	$	(179,302)	$	(122,624)

The valuation allowance increased by $24.9 million from $310.0 million as of December 28, 2019 to $334.8 million as of December 26, 2020. The increase is primarily a result of foreign exchange impact on net operating losses and corresponding valuation allowances relating to the Company’s 2019 financing structure changes. The valuation allowance increased by $300.2 million from $9.8 million as of December 29, 2018 to $310.0 million as of December 28, 2019. The increase is primarily related to the recognition of $315.5 million of net operating loss deferred tax assets due to changes in the Company’s financing structure, $294.9 million of which the Company does not believe is more likely than not to be utilized. The other changes recorded to the Company’s valuation allowance were immaterial in the fiscal years 2020, 2019, and 2018.

As of December 26, 2020, the Company had net operating loss carryforwards of $369.0 million, as compared to $337.3 million as of December 28, 2019. Of this amount, $27.7 million are definite-lived and begin to expire in 2021, and the remainder of $341.3 million can be carried forward indefinitely. The Company has tax credit carryforwards of $37.1 million, which will begin to expire after 2035 and beyond. Additionally, the Company records a benefit to operating income for research and development and other credits in Quebec, France, the Netherlands, and the U.K. related to its DSA facilities.

The Company has recognized its deferred tax assets on the belief that it is more likely than not that they will be realized. The only exceptions relate to deferred tax assets primarily for net operating losses in Hong Kong, Luxembourg, Denmark, certain capital losses, and fixed assets in the U.K.

A reconciliation of the Company’s beginning and ending unrecognized income tax benefits is as follows:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Beginning balance	$	19,665	$	18,827	$	24,710
Additions to tax positions for current year	7,044		3,691		2,477
Additions to tax positions for prior years	4,589		5,234		—
Reductions to tax positions for prior years	(127)		(1,033)		(4,543)
Settlements	(5,859)		(274)		(3,380)
Expiration of statute of limitations	(342)		(6,780)		(437)
Ending balance	$	24,970	$	19,665	$	18,827

The $5.3 million increase in unrecognized income tax benefits during fiscal year 2020 as compared to the corresponding period in 2019 is primarily attributable to amended U.S. state tax returns from prior years and an additional year of Canadian Scientific Research and Experimental Development (SR&ED) credit, partially offset by audit settlements.

The amount of unrecognized income tax benefits that, if recognized, would favorably impact the effective tax rate was $22.6 million as of December 26, 2020 and $17.0 million as of December 28, 2019. The $5.6 million increase is primarily due to the same items noted above. It is reasonably possible as of December 26, 2020 that the liability for unrecognized tax benefits for the uncertain tax position will decrease by approximately $2 million over the next twelve-month period. The Company continues to recognize interest and penalties related to unrecognized income tax benefits in income tax expense. The total amount of cumulative accrued interest related to unrecognized income tax benefits as of December 26, 2020 and December 28, 2019 was $2.4 million and $2.3 million, respectively. Interest expense recorded as a component of income taxes was immaterial for all periods. There were no accrued penalties related to unrecognized income tax benefits as of December 26, 2020 or as of December 28, 2019.

The Company conducts business in a number of tax jurisdictions. As a result, it is subject to tax audits on a regular basis including, but not limited to, such major jurisdictions as the U.S., the U.K., China, France, Germany, and Canada. With few exceptions, the Company is no longer subject to U.S. and international income tax examinations for years before 2017.

The Company and certain of its subsidiaries have ongoing tax controversies in the U.S., Canada, Germany, and France. The Company does not anticipate resolution of these audits will have a material impact on its financial statements.

- 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 + Details

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 26, 2020

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

Pension Plans

The Charles River Laboratories, Inc. Pension Plan (U.S. Pension Plan) is a qualified, non-contributory defined benefit plan covering certain U.S. employees. Effective 2002, the U.S. Pension Plan was amended to exclude new participants from joining and in 2008 the accrual of benefits was frozen. In January 2019, the Company commenced the process to terminate this plan and received regulatory approval in April 2020. In October 2020, the Company settled all remaining benefits directly with vested participants through either lump sum payouts or the purchase of a group annuity contract from a qualified insurance company to administer all future payments. Prior to the settlement, the U.S. Pension Plan was underfunded with a benefit obligation of $93.8 million and plan assets of $93.0 million. In the fourth quarter of fiscal year 2020, the Company made a contribution of $0.8 million to fully fund this plan to cover the lump sum payments, purchase the group annuity contract, and settle remaining termination costs. Upon settlement of the pension liability, the Company recognized a non-cash settlement charge of $10.3 million related to pension losses, reclassified from accumulated other comprehensive loss on the consolidated balance sheet, to other expense in the consolidated statements of income.

The Charles River Pension Plan (U.K. Pension Plan) is a defined contribution and defined benefit pension plan covering certain U.K. employees. Benefits are based on participants’ final pensionable salary and years of service. Participants’ rights vest immediately. Effective December 31, 2002, the plan was amended to exclude new participants from joining the defined benefit section of the plan and a defined contribution section was established for new entrants. Contributions under the defined contribution plan are determined as a percentage of gross salary. In the fourth quarter of 2015, the U.K. Pension Plan was amended such that the members of the defined benefit section of the plan ceased to accrue additional benefits; however, their benefits continue to be adjusted for changes in their final pensionable salary or a specified inflation index, as applicable. During fiscal 2020, the Company made contributions of $23.0 million to the U.K. Pension Plan. As of fiscal 2020 year-end, this plan was in a funded status of $28.9 million.

In addition, the Company has several defined benefit plans in certain other countries in which it maintains an operating presence, including Canada, France, Germany, Japan, Italy, and the Netherlands.

The net periodic benefit cost (income) associated with these plans for fiscal years 2020, 2019 and 2018 totaled $1.6 million, $1.5 million and $(1.5) million, respectively.

Charles River Laboratories Deferred Compensation Plan and Executive Supplemental Life Insurance Retirement Plan

The Company maintains a non-qualified deferred compensation plan, known as the Charles River Laboratories Deferred Compensation Plan (DCP), which allows a select group of eligible employees to defer a portion of their compensation. At the present time, no contributions are credited to the DCP, except as set forth below. Participants must specify the distribution date for deferred amounts at the time of deferral, in accordance with applicable IRS regulations. Generally, amounts may be paid in lump sum or installments upon retirement or termination of employment, or later if the employee terminates employment after age 55 and before age 65. Amounts may also be distributed during employment, subject to a minimum deferral requirement of three years.

The Company provides certain active employees an annual contribution into their DCP account of 10% of the employee’s base salary plus the lesser of their target annual bonus or actual annual bonus.

In addition to the DCP, certain officers and key employees also participate, or in the past participated, in the Company’s Executive Supplemental Life Insurance Retirement Plan (ESLIRP), which is a non-funded, non-qualified arrangement. Annual benefits under this plan will equal a percentage of the highest five consecutive years of compensation, offset by amounts payable under the U.S. Pension Plan and Social Security. In connection with the establishment of the DCP, certain active ESLIRP participants, who agreed to convert their accrued ESLIRP benefit to a comparable deferred compensation benefit, discontinued their direct participation in the ESLIRP. Instead, the present values of the accrued benefits of ESLIRP participants were credited to their DCP accounts, and future accruals are converted to present values and credited to their DCP accounts annually. In fiscal year 2020, one executive officer, who converted their ESLIRP benefit into the DCP, retired resulting in lump sum payment of $8.1 million. Upon settlement of this pension liability, the Company recognized a non-cash settlement charge of $2.1 million related to pension losses, reclassified from accumulated other comprehensive loss on the consolidated balance sheet, to other expense in the consolidated statements of income.

The net periodic benefit cost associated with these plans for fiscal years 2020, 2019 and 2018 totaled $5.7 million, $2.5 million and $2.9 million, respectively.

The Company has invested in several corporate-owned key-person life insurance policies with the intention of using these investments to fund the ESLIRP and the DCP. Participants have no interest in any such investments. As of December 26, 2020 and December 28, 2019, the cash surrender value of these life insurance policies were $43.8 million and $38.2 million, respectively.

The following table provides a reconciliation of benefit obligations and plan assets of the Company’s pension, DCP and ESLIRP plans:


	December 26, 2020		December 28, 2019
	(in thousands)
Change in projected benefit obligations:
Benefit obligation at beginning of year	$	447,409	$	362,805
Service cost	3,609		2,833
Interest cost	8,849		11,583
Other	429		850
Benefit payments	(8,913)		(11,062)
Settlements	(101,979)		(74)
Special/Contractual Termination Benefits	—		166
Transfer in from acquisition	—		6,818
Actuarial loss	9,816		66,432
Administrative expenses paid	(808)		(470)
Effect of foreign exchange	9,056		7,528
Benefit obligation at end of year	$	367,468	$	447,409
Change in fair value of plan assets:
Fair value of plan assets at beginning of year	$	357,181	$	305,709
Actual return on plan assets	36,551		53,741
Employer contributions	34,092		2,105
Settlements	(101,979)		(74)
Transfer in from acquisition	—		119
Benefit payments	(8,913)		(11,062)
Administrative expenses paid	(808)		(470)
Effect of foreign exchange	8,628		7,113
Fair value of plan assets at end of year	$	324,752	$	357,181

Net balance sheet liability	$	42,716	$	90,228

Amounts recognized in balance sheet:
Noncurrent assets	$	31,916	$	1,742
Current liabilities	1,713		12,788
Noncurrent liabilities	72,919		79,182

Actuarial losses are driven mainly by liability losses as a result of changes in economic assumptions, in particular lower discount rates, offset by liability gains due to changes in the mortality assumptions and plan experience.

Amounts recognized in accumulated other comprehensive loss related to the Company’s pension, DCP and ESLIRP plans are as follows:


	Fiscal Year
	2020		2019
	(in thousands)
Net actuarial loss	$	82,914	$	116,930
Net prior service cost (credit)	(1,593)		(2,096)
Net amount recognized	$	81,321	$	114,834

The accumulated benefit obligation and fair value of plan assets for the Company’s pension, DCP and ESLIRP plans with accumulated benefit obligations in excess of plan assets are as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Accumulated benefit obligation	$	72,940	$	410,243
Fair value of plan assets	11,543		337,344

The projected benefit obligation and fair value of plan assets for the Company’s pension, DCP and ESLIRP plans with projected benefit obligations in excess of plan assets are as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Projected benefit obligation	$	93,192	$	435,638
Fair value of plan assets	18,560		343,688

Components of total benefit cost for the Company’s pension, DCP and ESLIRP plans are as follows:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Service cost	$	3,609	$	2,833	$	2,612
Interest cost	8,849		11,583		10,850
Expected return on plan assets	(11,348)		(13,005)		(15,516)
Amortization of prior service credit	(489)		(489)		(514)
Amortization of net loss	6,239		2,250		2,990
Other	417		850		910
Net periodic benefit cost	$	7,277	$	4,022	$	1,332
Settlement	12,385		—		—
Total benefit cost	$	19,662	$	4,022	$	1,332

Assumptions

Weighted-average assumptions used to determine projected benefit obligations are as follows:


	December 26, 2020		December 28, 2019
Discount rate	1.48	%	2.14	%
Rate of compensation increase	2.98	%	2.99	%

The discount rate reflects the rate the Company would have to pay to purchase high-quality investments that would provide cash sufficient to settle its current pension obligations. Specifically for the termination of the U.S. Pension Plan in fiscal 2020, estimated costs of lump sum payments and annuity purchases were reflected in the discount rate for fiscal 2019. A 25-basis point change across all discount rates changes the projected benefit obligation by approximately $17 million for all Company plans.

Weighted-average assumptions used to determine net periodic benefit cost are as follows:


	December 26, 2020		December 28, 2019		December 29, 2018
Discount rate	2.14	%	3.21	%	2.82	%
Expected long-term return on plan assets	3.35	%	4.28	%	5.18	%
Rate of compensation increase	2.99	%	3.23	%	3.16	%

A 0.5% decrease in the expected rate of return would increase annual pension expense by $1.6 million.

In fiscal years 2020 and 2019, new mortality improvement scales were issued in the U.S. and the United Kingdom (U.K.) reflecting a decline in longevity projection from previous releases the Company adopted, which decreased the Company’s benefit obligations by $7.8 million and $2.8 million as of December 26, 2020 and December 28, 2019, respectively.

Plan Assets

The Company invests its pension assets with the objective of achieving a total long-term rate of return sufficient to fund future pension obligations and to minimize future pension contributions. The Company is willing to tolerate a commensurate level of risk to achieve this objective. The Company controls its risk by maintaining a diversified portfolio of asset classes. Plan assets did not include any of the Company’s common stock as of December 26, 2020 or December 28, 2019. The weighted-average target asset allocations are 22.1% to equity securities, 15.3% to fixed income securities and 62.6% to other securities.

The fair value of the Company’s pension plan assets by asset category are as follows:


	December 26, 2020								December 28, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in thousands)
Cash and cash equivalents	$	20,163	$	1,466	$	—	$	21,629	$	2,388	$	1,022	$	—	$	3,410
Equity securities (1)	8,633		54,832		—		63,465		7,621		84,377		—		91,998
Debt securities (2)	—		99,188		—		99,188		40,281		89,684		—		129,965
Mutual funds (3)	7,018		65,189		—		72,207		6,324		68,632		—		74,956
Other (4)	508		66,439		1,316		68,263		551		54,787		1,514		56,852
Total	$	36,322	$	287,114	$	1,316	$	324,752	$	57,165	$	298,502	$	1,514	$	357,181
(1) This category comprises equity investments and securities held by non-U.S. pension plans valued at the quoted closing price and translated into U.S. dollars using a foreign currency exchange rate at year end.
(2) This category comprises debt investments and securities held by non-U.S. pension plans valued at the quoted closing price and translated into U.S. dollars using a foreign currency exchange rate at year end. Holdings primarily include investment-grade corporate bonds and treasuries at various durations.
(3) This category comprises mutual funds valued at the net asset value of shares held by non-U.S. pension plans at year end and translated into U.S. dollars using a foreign currency exchange rate at year end.
(4) This category mainly comprises fixed income securities tied to various U.K. government bond yields held by non-US pension plans valued at the net asset value of shares held at year-end and translated into U.S. dollars using a foreign currency exchange rate at year end.

The activity within the Level 3 pension plan assets was not significant during the periods presented.

During fiscal year 2020, the Company contributed $24.6 million to the pension plans and expects to contribute approximately $0.9 million in fiscal year 2021. During fiscal year 2020, the Company paid $9.5 million directly to certain participants outside of plan assets.

Expected benefit payments are estimated using the same assumptions used in determining the Company’s benefit obligation as of December 26, 2020. Benefit payments will depend on future employment and compensation levels, among other factors, and changes in any of these factors could significantly affect these estimated future benefit payments. Estimated future benefit payments during the next five years and in the aggregate for fiscal years 2026 through 2030, are as follows.


Fiscal Year	Pension Plans
	(in thousands)
2021	$	6,457
2022	6,890
2023	41,395
2024	7,595
2025	7,847
2026-2030	42,617

Post-Retirement Health and Life Insurance Plans

The Company’s Canadian location offers post-retirement life insurance benefits to its employees and post-retirement medical and dental insurance coverage to certain executives. The plan is non-contributory and unfunded. As of December 26, 2020 and December 28, 2019, the accumulated benefit obligation related to the plan was $1.3 million and $1.1 million, respectively. The amounts included in other accumulated comprehensive income as well as expenses related to the plan were not significant for fiscal years 2020, 2019 and 2018.

Charles River Laboratories Employee Savings Plan

The Charles River Laboratories Employee Savings Plan is a defined contribution plan in the form of a qualified 401(k) plan in which substantially all U.S. employees are eligible to participate upon employment. The plan contains a provision whereby the Company matches a percentage of employee contributions. During fiscal years 2020, 2019 and 2018, the costs associated with this defined contribution plan totaled $14.6 million, $19.1 million and $13.4 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 26, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The Company has stock-based compensation plans under which employees and non-employee directors may be granted stock-based awards such as stock options, restricted stock, restricted stock units (RSUs), and performance share units (PSUs).

During fiscal years 2020, 2019 and 2018, the primary share-based awards and their general terms and conditions are as follows:

•Stock options, which entitle the holder to purchase a specified number of shares of common stock at an exercise price equal to the closing market price of common stock on the date of grant; typically vest over 4 years; and typically expire 5 or 10 years from date of grant.

•RSUs, which represent an unsecured promise to grant at no cost a set number of shares of common stock upon the completion of the vesting schedule, and typically vest over 2 to 4 years. With respect to RSUs, recipients are not entitled to cash dividends and have no voting rights on the stock during the vesting period.

•PSUs, which entitle the holder to receive at no cost, a specified number of shares of common stock within a range of shares from zero to a specified maximum and typically vest over 3 years. Payout of this award is contingent upon achievement of certain performance and market conditions.

In May 2007, the Company’s shareholders approved the 2007 Incentive Plan, which was amended in 2009, 2011, 2013 and 2015 (2007 Plan). The 2007 Plan provided no further awards to be granted under preexisting stock option and incentive plans; provided, however, that any shares that have been forfeited or canceled in accordance with the terms of the applicable award under a preexisting plan may be subsequently awarded in accordance with the terms of the preexisting plan. The 2007 Plan allows a maximum of 18.7 million shares to be awarded, of which restricted stock grants, RSUs, and performance-based stock awards count as 2.3 shares and stock options count as 1.0 share. Any stock options and other share-based awards that were granted under prior plans and were outstanding in May 2007 continue in accordance with the terms of the respective plans.

In May 2016, the Company’s shareholders approved the 2016 Incentive Plan (2016 Plan). The 2016 Plan provided no further awards to be granted under preexisting stock option and incentive plans; provided, however, that any shares that have been forfeited or canceled in accordance with the terms of the applicable award under a preexisting plan may be subsequently awarded in accordance with the terms of the preexisting plan. The 2016 Plan allows a maximum of 6.1 million shares to be awarded, of which restricted stock grants, RSUs, and performance-based stock awards count as 2.3 shares and stock options count as 1.0 share. Any stock options and other share-based awards that were granted under prior plans and were outstanding in May 2016 continue in accordance with the terms of the respective plans.

In May 2018, the Company’s shareholders approved the 2018 Incentive Plan, which was amended in 2020 (2018 Plan). The 2018 Plan provided no further awards to be granted under preexisting stock option and incentive plans; provided, however, that any shares that have been forfeited or canceled in accordance with the terms of the applicable award under a preexisting plan may be subsequently awarded in accordance with the terms of the preexisting plan. The 2018 Plan allows a maximum of 8.9 million shares to be awarded, of which restricted stock grants, RSUs, and performance-based stock awards count as 2.3 shares and stock options count as 1.0 share. Any stock options and other share-based awards that were granted under prior plans and were outstanding in May 2018 continue in accordance with the terms of the respective plans.

As of December 26, 2020, approximately 6.7 million shares were authorized for future grants under the Company’s share-based compensation plans. The Company settles employee share-based compensation awards with newly issued shares. The following table provides stock-based compensation by the financial statement line item in which it is reflected:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Cost of revenue	$	10,636	$	9,038	$	6,285
Selling, general and administrative	45,705		48,233		41,061
Stock-based compensation, before income taxes	56,341		57,271		47,346
Provision for income taxes	(8,130)		(9,465)		(9,188)
Stock-based compensation, net of income taxes	$	48,211	$	47,806	$	38,158

No stock-based compensation related costs were capitalized in fiscal years 2020, 2019 and 2018.

Stock Options

The following table summarizes stock option activity under the Company’s stock-based compensation plans:


	Number of shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in thousands)			(in years)	(in thousands)
Options outstanding as of December 28, 2019	1,507	$	105.19
Options granted	292	$	178.79
Options exercised	(533)	$	87.45
Options canceled	(50)	$	134.02
Options outstanding as of December 26, 2020	1,216	$	129.34	3.8	$	148,795
Options exercisable as of December 26, 2020	308	$	98.34	1.5	$	47,163
Options expected to vest as of December 26, 2020	908	$	139.84	4.6	$	101,632

The fair value of stock options granted was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	Fiscal Year
	2020		2019		2018
Expected life (in years)	6.0		3.6		3.7
Expected volatility	30	%	27	%	25	%
Risk-free interest rate	0.4	%	2.4	%	2.4	%
Expected dividend yield	0	%	0	%	0	%

The weighted-average grant date fair value of stock options granted was $53.37, $33.97 and $24.80 for fiscal years 2020, 2019 and 2018, respectively.

As of December 26, 2020, the unrecognized compensation cost related to unvested stock options expected to vest was $19.2 million. This unrecognized compensation will be recognized over an estimated weighted-average amortization period of 2.3 years.

The total intrinsic value of options exercised during fiscal years 2020, 2019 and 2018 was $48.6 million, $27.0 million and $29.0 million, respectively, with intrinsic value defined as the difference between the market price on the date of exercise and the exercise price.

Restricted Stock Units

The following table summarizes the restricted stock units activity for fiscal year 2020:


	Restricted Stock Units	Weighted Average Grant Date Fair Value
	(in thousands)
December 28, 2019	496	$	116.07
Granted	178	$	182.10
Vested	(187)	$	106.94
Canceled	(21)	$	136.15
December 26, 2020	466	$	144.03

As of December 26, 2020, the unrecognized compensation cost related to shares of unvested RSUs expected to vest was $39.9 million, which is expected to be recognized over an estimated weighted-average amortization period of 2.5 years. The total fair value of RSU grants that vested during fiscal years 2020, 2019 and 2018 was $20.0 million, $16.5 million and $15.5 million, respectively.

Performance Based Stock Award Program

The Company issues PSUs to certain corporate officers. The number of shares of common stock issued for each PSU is adjusted based on a performance condition linked to the Company’s financial performance. Certain awards are further adjusted based on a market condition, which is calculated based on the Company’s stock performance relative to a peer group over the three-year vesting period. The fair value of the market condition is reflected in the fair value of the award at grant date.

The Company utilizes a Monte Carlo simulation valuation model to value these awards. Information pertaining to the Company’s PSUs and the related estimated weighted-average assumptions used to calculate their fair value were as follows:


	Fiscal Year
	2020			2019			2018
	(shares in thousands)
PSUs granted	98			160			200
Weighted average grant date fair value	$	209.67		$	164.47		$	117.89
Key assumptions:
Expected volatility	35		%	25		%	26		%
Risk-free interest rate	0.2		%	2.4		%	2.4		%
Expected dividend yield	0		%	0		%	0		%
Total shareholder return of 20-trading day average stock price on grant date	21.7		%	17.7		%	2.9		%

The maximum number of common shares to be issued upon vesting of PSUs is 0.2 million. For fiscal years 2020, 2019 and 2018, the Company recognized stock-based compensation related to PSUs of $22.7 million, $25.3 million and $20.4 million, respectively. The total fair value of PSUs that vested during fiscal years 2020, 2019 and 2018 was $20.9 million, $20.2 million and $18.3 million, respectively.

In fiscal years 2020, 2019 and 2018, the Company also issued approximately 9,000, 15,000 and 17,000 PSUs using a weighted-average grant date fair value per share of $179.66, $144.67 and $109.34, respectively. These PSUs vest upon the achievement of financial targets and other performance measures.

FOREIGN CURRENCY CONTRACTS

12 Months Ended

Dec. 26, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FOREIGN CURRENCY CONTRACTS

Cross currency loans

The Company periodically entered into foreign exchange forward contracts during fiscal 2020 and 2019 to limit its foreign currency exposure related U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Company’s Credit Facility. These contracts are not designated as hedging instruments. Any gains or losses on these forward contracts are recognized immediately within Interest expense in the consolidated statements of income. The Company had no such open forward contracts as of December 26, 2020 or December 28, 2019.

The following table summarizes the effect of the foreign exchange forward contracts entered into to limit the Company’s foreign currency exposure related to U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Credit Facility on the Company’s consolidated statements of income:


	Fiscal Year
	2020				2019				2018
Location of gain (loss)	Financial statement caption amount		Amount of gain (loss)		Financial statement caption amount		Amount of gain (loss)		Financial statement caption amount		Amount of gain (loss)
	(in thousands)
Interest expense	$	86,433	$	(9,325)	$	60,882	$	18,672	$	63,772	$	1,486

Intercompany loans

The Company periodically enters into foreign exchange forward contracts to limit its foreign currency exposure related to certain intercompany loans. These contracts are not designated as hedging instruments. Any gains or losses on forward contracts associated with intercompany loans are recognized immediately in Other income, net and are largely offset by the remeasurement of the underlying intercompany loans.

The Company entered into foreign currency forward contracts during fiscal years 2020 and 2019. The Company did not have any such open contracts as of December 26, 2020 and one contract remained open at December 28, 2019, which had a duration of less than one month and was recorded at fair value in the Company’s accompanying consolidated balance sheet. The notional amount and fair value of the open contract is summarized as follows:


December 28, 2019
Notional Amount		Fair Value		Balance Sheet Location
(in thousands)
$	115,038	$	(876)	Other current liabilities

The following table summarizes the effect of the foreign exchange forward contracts in connection with certain intercompany loans on the Company’s consolidated statements of income:


	Fiscal Year
	2020				2019
Location of gain (loss)	Financial statement caption amount		Amount of gain (loss)		Financial statement caption amount		Amount of gain (loss)
	(in thousands)
Other income, net	$	99,984	$	(892)	$	12,293	$	(121)

RESTRUCTURING AND ASSET IMPAIRMENTS

12 Months Ended

Dec. 26, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND ASSET IMPAIRMENTS

Global Restructuring Initiatives

In recent fiscal years, the Company has undertaken productivity improvement initiatives within all reportable segments at various locations across the U.S., Canada, Europe, China, and Japan. This includes workforce right-sizing and scalability initiatives, resulting in severance and transition costs; and cost related to the consolidation of facilities, resulting in asset impairment and accelerated depreciation charges. The Company does not have any significant remaining lease obligations for facilities associated with restructuring activities.

The following table presents a summary of restructuring costs related to these initiatives by classification within the consolidated statements of income:


	Severance and Transition Costs		Asset Impairments and Other Costs		Total
	(in thousands)
December 26, 2020
Cost of services provided and products sold (excluding amortization of intangible assets)	$	4,453	$	920	$	5,373
Selling, general and administrative	3,137		4,084		7,221
Total	$	7,590	$	5,004	$	12,594
December 28, 2019
Cost of services provided and products sold (excluding amortization of intangible assets)	$	4,348	$	2,367	$	6,715
Selling, general and administrative	7,106		18		7,124
Total	$	11,454	$	2,385	$	13,839
December 29, 2018
Cost of services provided and products sold (excluding amortization of intangible assets)	$	1,770	$	849	$	2,619
Selling, general and administrative	6,911		21		6,932
Total	$	8,681	$	870	$	9,551

The following table presents restructuring costs by reportable segment for these productivity improvement initiatives:


	Fiscal Year
	2020		2019		2018
	(in thousands)
RMS	$	845	$	3,110	$	1,983
DSA	8,605		7,307		1,063
Manufacturing	2,733		3,032		1,227
Unallocated corporate	411		390		5,278
Total	$	12,594	$	13,839	$	9,551

Rollforward of restructuring activities

The following table provides a rollforward for all of the Company’s severance and transition costs related to restructuring activities:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Beginning balance	$	6,406	$	2,921	$	6,856
Expense (excluding non-cash charges)	9,284		12,674		8,681
Payments / utilization	(9,918)		(9,206)		(12,341)
Foreign currency adjustments	46		17		(275)
Ending balance	$	5,818	$	6,406	$	2,921

As of December 26, 2020 and December 28, 2019, $5.8 million and $6.3 million, respectively, of severance and other personnel related costs liabilities and lease obligation liabilities were included in accrued compensation and accrued liabilities within the Company’s consolidated balance sheets. As of December 28, 2019, $0.1 million, respectively, were included in other long-term liabilities within the Company's consolidated balance sheets.

LEASES

12 Months Ended

Dec. 26, 2020

Leases [Abstract]

LEASES

Operating and Finance Leases

Right-of-use lease assets and lease liabilities are reported in the Company’s consolidated balance sheets as follows:


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Operating leases
Operating lease right-of-use assets, net	$	178,220	$	140,085

Other current liabilities	$	24,674	$	20,357
Operating lease right-of-use liabilities	155,595		116,252
Total operating lease liabilities	$	180,269	$	136,609

Finance leases
Property, plant and equipment, net	$	31,614	$	32,519

Current portion of long-term debt and finance leases	$	3,018	$	2,997
Long-term debt, net and finance leases	26,029		27,530
Total finance lease liabilities	$	29,047	$	30,527

The components of operating and finance lease costs were as follows:


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Operating lease costs	$	32,965	$	30,885
Finance lease costs:
Amortization of right-of-use assets	3,723		4,007
Interest on lease liabilities	1,306		1,349
Short-term lease costs	2,349		1,056
Variable lease costs	5,122		3,161
Sublease income	(1,673)		(994)
Total lease costs	$	43,792	$	39,464

Other information related to leases was as follows:

Supplemental cash flow information


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	29,961	$	27,153
Operating cash flows from finance leases	1,306		1,406
Finance cash flows from finance leases	4,350		3,766

Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities	$	63,499	$	24,382
Right-of-use lease assets obtained in exchange for new finance lease liabilities	1,571		4,819

Lease term and discount rate


	As of		As of
	December 26, 2020		December 28, 2019
Weighted-average remaining lease term (in years)
Operating lease	8.5		8.2
Finance lease	12.4		13.0
Weighted-average discount rate
Operating lease	4.5	%	4.4	%
Finance lease	4.1	%	4.6	%

At the lease commencement date, the discount rate implicit in the lease is used to discount the lease liability if readily determinable. If not readily determinable or leases do not contain an implicit rate, the Company’s incremental borrowing rate is used as the discount rate, which is based on the information available at the lease commencement date and represents a rate that would be incurred to borrow, on a collateralized basis, over a similar term, an amount equal to the lease payments in a similar economic environment.

As of December 26, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:


	Operating Leases		Finance Leases
	(in thousands)
2021	$	31,326	$	4,242
2022	27,803		3,673
2023	25,014		3,348
2024	24,244		3,118
2025	21,792		2,841
Thereafter	85,249		20,906
Total minimum future lease payments	215,428		38,128
Less: Imputed interest	35,159		9,081
Total lease liabilities	$	180,269	$	29,047

Total minimum future lease payments (predominantly operating leases) of approximately $130 million for leases that have not commenced as of December 26, 2020, as the Company does not yet control the underlying assets, are not included in the consolidated financial statements. These leases are expected to commence between fiscal years 2021 and 2024 with lease terms of approximately 8 to 15 years.

LEASES

Operating and Finance Leases

Right-of-use lease assets and lease liabilities are reported in the Company’s consolidated balance sheets as follows:


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Operating leases
Operating lease right-of-use assets, net	$	178,220	$	140,085

Other current liabilities	$	24,674	$	20,357
Operating lease right-of-use liabilities	155,595		116,252
Total operating lease liabilities	$	180,269	$	136,609

Finance leases
Property, plant and equipment, net	$	31,614	$	32,519

Current portion of long-term debt and finance leases	$	3,018	$	2,997
Long-term debt, net and finance leases	26,029		27,530
Total finance lease liabilities	$	29,047	$	30,527

The components of operating and finance lease costs were as follows:


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Operating lease costs	$	32,965	$	30,885
Finance lease costs:
Amortization of right-of-use assets	3,723		4,007
Interest on lease liabilities	1,306		1,349
Short-term lease costs	2,349		1,056
Variable lease costs	5,122		3,161
Sublease income	(1,673)		(994)
Total lease costs	$	43,792	$	39,464

Other information related to leases was as follows:

Supplemental cash flow information


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	29,961	$	27,153
Operating cash flows from finance leases	1,306		1,406
Finance cash flows from finance leases	4,350		3,766

Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities	$	63,499	$	24,382
Right-of-use lease assets obtained in exchange for new finance lease liabilities	1,571		4,819

Lease term and discount rate


	As of		As of
	December 26, 2020		December 28, 2019
Weighted-average remaining lease term (in years)
Operating lease	8.5		8.2
Finance lease	12.4		13.0
Weighted-average discount rate
Operating lease	4.5	%	4.4	%
Finance lease	4.1	%	4.6	%

As of December 26, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:


	Operating Leases		Finance Leases
	(in thousands)
2021	$	31,326	$	4,242
2022	27,803		3,673
2023	25,014		3,348
2024	24,244		3,118
2025	21,792		2,841
Thereafter	85,249		20,906
Total minimum future lease payments	215,428		38,128
Less: Imputed interest	35,159		9,081
Total lease liabilities	$	180,269	$	29,047

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 26, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Insurance

The Company maintains certain insurance policies that maintain large deductibles up to approximately $1.5 million, some with or without stop-loss limits, depending on market availability. Insurance policies at certain locations are based on a percentage of the insured assets, for which deductibles for certain property may exceed $5.0 million in the event of a catastrophic event. In addition, the Company purchased representation and warranty insurance in support of some acquisitions, in which deductibles could reach $8.0 million.

Litigation

Various lawsuits, claims and proceedings of a nature considered normal to its business are pending against the Company. While the outcome of any of these proceedings cannot be accurately predicted, the Company does not believe the ultimate resolution of any of these existing matters would have a material adverse effect on the Company’s business or financial condition.

Guarantees

The Company enters into certain agreements with other parties in the ordinary course of business that contain indemnification provisions. These typically include agreements with directors and officers, business partners, contractors, landlords, and customers. Under these provisions, the Company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of the Company’s activities. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential amount of future payments the Company

could be required to make under these indemnification provisions is unlimited. However, to date the Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. As a result, the estimated fair value of these obligations is minimal.

Purchase Obligations

The Company enters into unconditional purchase obligations, in the ordinary course of business, that include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms including: fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. Purchase obligations exclude agreements that are cancellable at any time without penalty. The aggregate amount of the Company’s unconditional purchase obligations totaled $197.4 million as of December 26, 2020 and is expected to be paid as follows:


	Payments Due by Period
	Less than 1 Year		1 - 3 Years		3 - 5 Years		Total
	(in thousands)
Unconditional purchase obligations	$	166,078	$	30,617	$	673	$	197,368

SELECTED QUARTERLY FINANCIAL DATA (unaudited)

12 Months Ended

Dec. 26, 2020

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (unaudited)

The following table contains quarterly financial information for fiscal years 2020 and 2019. The operating results for any quarter are not necessarily indicative of future period results.


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(in thousands, except per share amounts)
Fiscal Year 2020
Total revenue	$	707,059	$	682,584	$	743,300	$	790,990
Gross profit (1)	252,061		232,238		289,274		299,968
Operating income	94,281		76,768		132,753		128,927
Net income attributable to common shareholders	50,769		67,435		102,909		143,191

Earnings per common share
Net income attributable to common shareholders:
Basic	$	1.03	$	1.36	$	2.07	$	2.88
Diluted	$	1.02	$	1.34	$	2.03	$	2.81

Fiscal Year 2019
Total revenue	$	604,569	$	657,568	$	667,951	$	691,138
Gross profit (1)	211,777		238,104		246,116		262,314
Operating income	69,792		79,768		92,802		108,789
Net income attributable to common shareholders	55,133		43,728		72,810		80,348

Earnings per common share
Net income attributable to common shareholders:
Basic	$	1.14	$	0.90	$	1.49	$	1.64
Diluted	$	1.11	$	0.88	$	1.46	$	1.61
(1) Gross profit is calculated as total revenue minus cost of revenue (excluding amortization of intangible assets).

Full-year amounts may not sum due to rounding.

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Dec. 26, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn February 17, 2021, the Company announced that it has signed a definitive agreement to acquire Cognate BioServices, Inc. for approximately $875 million in cash, subject to customary closing adjustments. Cognate BioServices, Inc. is a cell and gene therapy CDMO offering comprehensive manufacturing solutions for cell therapies, as well as for the development and production of plasmid DNA and viral vectors for gene therapies. The planned acquisition of Cognate BioServices, Inc. will create a scientific partner for cell and gene therapy development, testing, and manufacturing, providing clients with an integrated solution from basic research through cGMP production. The proposed transaction is expected to close by the end of the first quarter of 2021. The proposed acquisition and associated fees are expected to be financed through a combination of available cash and proceeds from the Company’s Credit Facility under the multi-currency revolving facility. This business is expected to be reported as part of the Company’s Manufacturing reportable segment.

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 26, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of Consolidation

The Company’s fiscal year is typically based on 52-weeks, with each quarter composed of 13 weeks ending on the last Saturday on, or closest to, March 31, June 30, September 30, and December 31.

Segment Reporting

Segment Reporting The Company reports its results in three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (Manufacturing). The Company’s RMS reportable segment includes the Research Models, Research Model Services, and Research Products businesses. Research Models includes the commercial production and sale of small research models, as well as the supply of large research models. Research Model Services includes: Genetically Engineered Models and Services (GEMS), which performs contract breeding and other services associated with genetically engineered models; Research Animal Diagnostic Services (RADS), which provides health monitoring and diagnostics services related to research models; Insourcing Solutions (IS), which provides colony management of its clients’ research operations (including recruitment, training, staffing, and management services); and Research Products, which supplies controlled, consistent, customized primary cells and blood components derived from normal and mobilized peripheral blood, bone marrow, and cord blood. The Company’s DSA reportable segment includes services required to take a drug through the early development process including discovery services, which are non-regulated services to assist clients with the identification, screening, and selection of a lead compound for drug development, and regulated and non-regulated (GLP and non-GLP) safety assessment services. The Company’s Manufacturing reportable segment includes Microbial Solutions, which provides in vitro (non-animal) lot-release testing products, microbial detection products, and species identification services; Biologics Testing Services (Biologics), which performs specialized testing of biologics; Avian Vaccine Services (Avian), which supplies specific-pathogen-free chicken eggs and chickens.

Use of Estimates

Cash and Cash Equivalents

Cash, Cash Equivalents, and InvestmentsCash equivalents include money market funds, time deposits and other investments with remaining maturities at the purchase date of three months or less.

Trade Receivables, Net

Concentrations of Credit Risk

Fair Value Measurements

•Level 1 - Fair values are determined utilizing prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access,

•Level 3 - Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

Valuation methodologies used for assets and liabilities measured or disclosed at fair value are as follows:

•Cash equivalents - Valued at market prices determined through third-party pricing services;

•Foreign currency forward contracts - Valued using market observable inputs, such as forward foreign exchange points and foreign exchanges rates;

•Life insurance policies - Valued at cash surrender value based on the fair value of underlying investments;

•Contingent consideration - Valued based on a probability weighting of the future cash flows associated with the potential outcomes.

Inventories

Property, Plant and Equipment, Net

The Company generally depreciates the cost of its property, plant and equipment using the straight-line method over the estimated useful lives of the respective assets as follow:


			Estimated Useful Lives
			(in years)
Land			Indefinite
Buildings			20 - 40
Machinery and equipment			3 - 20
Furniture and fixtures			5 - 10
Computer hardware and software			3 - 8
Vehicles			3 - 5

bargain purchase option, such finance lease assets are amortized over the useful life that would be assigned if such assets were owned.

Business Combinations

Contingent Consideration

Goodwill and Intangible Assets

Valuation and Impairment of Long-Lived Assets

Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets or asset group may not be recoverable.

Long-lived assets to be disposed of are carried at fair value less costs to sell.

Venture Capital Investments

Strategic Equity Investments

Life Insurance Contracts

Life Insurance ContractsInvestments in life insurance contracts are recorded at cash surrender value. The initial investment at the transaction price is recognized and remeasured based on fair value of underlying investments or contractual value each reporting period. Investments in and redemptions of these life insurance contracts are reported as cash flows from investing activities in the consolidated statement of cash flows.

Leases

The Company subleases a limited number of lease arrangements. Sublease activity is not material to the consolidated financial statements.

Stock-Based Compensation

Revenue Recognition

Income Taxes

or circumstances related to a tax position. The Company also accrues for potential interest and penalties related to unrecognized tax benefits in income tax expense.

Foreign Currency Contracts and Translation of Foreign Currencies

Foreign Currency Contracts

Translation of Foreign Currencies

Pension and Other Post-Retirement Benefit Plans

The rate of compensation increase reflects the expected annual salary increases for the plan participants based on historical experience and the current employee compensation strategy.

Earnings Per Share

Treasury Shares

Treasury SharesThe Company periodically retires treasury shares acquired through share repurchases and returns those shares to the status of authorized but unissued. The Company accounts for treasury stock transactions under the cost method. For each reacquisition of common stock, the number of shares and the acquisition price for those shares is added to the existing treasury stock count and total value. Thus, the average cost per share is re-averaged each time shares are acquired. When treasury shares are retired, the Company allocates the excess of the repurchase price over the par value of shares acquired to both retained earnings and additional paid-in-capital. The portion allocated to additional paid-in-capital is determined by applying a percentage, determined by dividing the number of shares to be retired by the number of shares issued, to the balance of additional paid-in-capital as of the retirement date.

Newly Adopted and Newly Issued Accounting Pronouncements

.Treasury Shares

Newly Adopted Accounting Pronouncements

Newly Issued Accounting Pronouncements

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 26, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property, Plant, and Equipment Estimated Useful Lives

The Company generally depreciates the cost of its property, plant and equipment using the straight-line method over the estimated useful lives of the respective assets as follow:


			Estimated Useful Lives
			(in years)
Land			Indefinite
Buildings			20 - 40
Machinery and equipment			3 - 20
Furniture and fixtures			5 - 10
Computer hardware and software			3 - 8
Vehicles			3 - 5

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 26, 2020

Business Combinations [Abstract]

Schedule of Preliminary Purchase Price Allocation

The preliminary purchase price allocation of $36.9 million, net of $0.5 million of cash acquired was as follows:


	August 6, 2020
	(in thousands)
Trade receivables	$	1,500
Inventories	551
Other current assets (excluding cash)	182
Property, plant and equipment	1,648
Goodwill	19,457
Definite-lived intangible assets	16,230
Other long-term assets	849
Current liabilities	(1,360)
Deferred tax liabilities	(1,467)
Other long-term liabilities	(740)
Total purchase price allocation	$	36,850

The purchase price allocation of $376.7 million, net of $3.1 million of cash acquired was as follows:


	January 3, 2020
	(in thousands)
Trade receivables	$	6,451
Inventories	8,468
Other current assets (excluding cash)	3,494
Property, plant and equipment	10,033
Goodwill	210,196
Definite-lived intangible assets	183,540
Other long-term assets	5,920
Current liabilities	(5,188)
Deferred tax liabilities	(38,529)
Other long-term liabilities	(7,664)
Total purchase price allocation	$	376,721

The purchase price allocation of $490.4 million, net of $36.7 million of cash acquired was as follows:


	April 29, 2019
	(in thousands)
Trade receivables	$	35,405
Inventories	5,282
Other current assets (excluding cash)	13,917
Property, plant and equipment	88,605
Goodwill	280,161
Definite-lived intangible assets	162,400
Other long-term assets	20,063
Deferred revenue	(15,278)
Current liabilities	(46,081)
Deferred tax liabilities	(27,458)
Other long-term liabilities	(22,624)
Redeemable noncontrolling interest	(4,035)
Total purchase price allocation	$	490,357

The purchase price allocation of $800.8 million, net of $27.7 million of cash acquired and a final net working capital adjustment of $1.2 million, was as follows:


	April 3, 2018
	(in thousands)
Trade receivables	$	35,073
Inventories	4,463
Other current assets (excluding cash)	5,893
Property, plant and equipment	128,403
Goodwill	441,656
Definite-lived intangible assets	309,200
Other long-term assets	1,081
Deferred revenue	(23,926)
Current liabilities	(32,885)
Deferred tax liabilities	(65,945)
Other long-term liabilities	(2,213)
Total purchase price allocation	$	800,800

Schedule of Finite-Lived Intangible Assets Acquired

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	14,740	13
Other intangible assets	1,490		3
Total definite-lived intangible assets	$	16,230	12

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	170,390	19
Trade name	7,330		10
Other intangible assets	5,820		3
Total definite-lived intangible assets	$	183,540	18

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	134,600	13
Developed technology	19,900		3
Backlog	7,900		1
Total definite-lived intangible assets	$	162,400	12

The breakout of definite-lived intangible assets acquired was as follows:


	Definite-Lived Intangible Assets		Weighted Average Amortization Life
	(in thousands)		(in years)
Client relationships	$	264,900	13
Developed technology	23,400		3
Backlog	20,900		1
Total definite-lived intangible assets	$	309,200	12

Schedule of Pro Forma Information


	Fiscal Year
	2020		2019
	(in thousands)
	(unaudited)
Revenue	$	2,923,951	$	2,661,565
Net income attributable to common shareholders	368,800		245,423


	Fiscal Year
	2019		2018
	(in thousands)
	(unaudited)
Revenue	$	2,683,610	$	2,442,283
Net income attributable to common shareholders	268,995		233,288


	Fiscal Year
	2018
	(in thousands)
	(unaudited)
Revenue	$	2,328,213
Net income attributable to common shareholders	225,550

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 26, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table disaggregates the Company’s revenue by major business line and timing of transfer of products or services:


Timing of Revenue Recognition of Major Product/Services Lines:	2020		2019		2018
	(in thousands)
RMS
Services and products transferred over time	$	240,480	$	227,872	$	202,872
Services and products transferred at a point in time	330,672		309,217		316,810
Total RMS revenue	571,152		537,089		519,682
DSA
Services and products transferred over time	1,836,519		1,618,281		1,316,005
Services and products transferred at a point in time	909		714		849
Total DSA revenue	1,837,428		1,618,995		1,316,854
Manufacturing
Services and products transferred over time	174,254		142,896		128,287
Services and products transferred at a point in time	341,099		322,246		301,273
Total Manufacturing revenue	515,353		465,142		429,560
Total revenue	$	2,923,933	$	2,621,226	$	2,266,096

Revenue for each significant product or service offering is as follows:


	2020		2019		2018
	(in thousands)
RMS	$	571,152	$	537,089	$	519,682
DSA	1,837,428		1,618,995		1,316,854
Manufacturing	515,353		465,142		429,560
Total revenue	$	2,923,933	$	2,621,226	$	2,266,096

Schedule of Estimated Revenue Related to Performance Obligations

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially satisfied) as of December 26, 2020:


	Revenue Expected to be Recognized in Future Periods
	Less than 1 Year		1 to 3 Years		4 to 5 Years		Total
	(in thousands)
DSA	$	216,099	$	128,005	$	4,429	$	348,533
Manufacturing	8,491		6,212		—		14,703
Total	$	224,590	$	134,217	$	4,429	$	363,236

Schedule of Client Receivables, Contract Assets and Contract Liabilities

The following table provides information about client receivables, contract assets, and contract liabilities from contracts with customers:


	December 26, 2020		December 28, 2019
	(in thousands)
Balances from contracts with customers:
Client receivables	$	489,042	$	395,740
Contract assets (unbilled revenue)	135,400		121,957
Contract liabilities (current and long-term deferred revenue)	227,417		192,788
Contract liabilities (customer contract deposits)	42,244		33,080

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 26, 2020

Segment Reporting [Abstract]

Revenue and Other Financial Information by Reportable Segment

The following table presents revenue and other financial information by reportable segment:


	2020		2019		2018
	(in thousands)
RMS
Revenue	$	571,152	$	537,089	$	519,682
Operating income	102,706		133,912		136,468
Depreciation and amortization	37,080		19,197		19,469
Capital expenditures	29,487		26,989		35,172
DSA
Revenue	$	1,837,428	$	1,618,995	$	1,316,854
Operating income	325,959		258,903		227,577
Depreciation and amortization	168,922		151,139		112,976
Capital expenditures	105,653		86,843		73,425
Manufacturing
Revenue	$	515,353	$	465,142	$	429,560
Operating income	181,494		145,420		136,212
Depreciation and amortization	25,904		23,584		22,529
Capital expenditures	26,287		23,617		23,323

Reconciliation of Segment Operating Income and Capital Expenditures to Respective Consolidated Amounts

The following tables present reconciliations of segment operating income, depreciation and amortization, and capital expenditures to the respective consolidated amounts:


	Operating Income						Depreciation and Amortization
	2020		2019		2018		2020		2019		2018
	(in thousands)
Total reportable segments	$	610,159	$	538,235	$	500,257	$	231,906	$	193,920	$	154,974
Unallocated corporate	(177,430)		(187,084)		(168,874)		3,018		4,175		6,805
Total consolidated	$	432,729	$	351,151	$	331,383	$	234,924	$	198,095	$	161,779


	Capital Expenditures
	2020		2019		2018
	(in thousands)
Total reportable segments	$	161,427	$	137,449	$	131,920
Unallocated corporate	5,133		3,065		8,134
Total consolidated	$	166,560	$	140,514	$	140,054

Revenue for Each Significant Product or Service Offering

The following table disaggregates the Company’s revenue by major business line and timing of transfer of products or services:


Timing of Revenue Recognition of Major Product/Services Lines:	2020		2019		2018
	(in thousands)
RMS
Services and products transferred over time	$	240,480	$	227,872	$	202,872
Services and products transferred at a point in time	330,672		309,217		316,810
Total RMS revenue	571,152		537,089		519,682
DSA
Services and products transferred over time	1,836,519		1,618,281		1,316,005
Services and products transferred at a point in time	909		714		849
Total DSA revenue	1,837,428		1,618,995		1,316,854
Manufacturing
Services and products transferred over time	174,254		142,896		128,287
Services and products transferred at a point in time	341,099		322,246		301,273
Total Manufacturing revenue	515,353		465,142		429,560
Total revenue	$	2,923,933	$	2,621,226	$	2,266,096

Revenue for each significant product or service offering is as follows:


	2020		2019		2018
	(in thousands)
RMS	$	571,152	$	537,089	$	519,682
DSA	1,837,428		1,618,995		1,316,854
Manufacturing	515,353		465,142		429,560
Total revenue	$	2,923,933	$	2,621,226	$	2,266,096

Summary of Unallocated Corporate Overhead

A summary of unallocated corporate expense consists of the following:


	2020		2019		2018
	(in thousands)
Stock-based compensation	$	34,111	$	37,855	$	32,068
Compensation, benefits, and other employee-related expenses	73,814		73,893		69,191
External consulting and other service expenses	26,561		16,639		18,652
Information technology	18,912		16,080		12,463
Depreciation	3,018		4,175		6,805
Acquisition and integration	13,995		26,877		16,295
Other general unallocated corporate	7,019		11,565		13,400
Total unallocated corporate expense	$	177,430	$	187,084	$	168,874

Revenue and Long-Lived Assets by Geographic Area

Revenue and long-lived assets by geographic area are as follows:


	U.S.		Europe		Canada		Asia Pacific		Other		Consolidated
	(in thousands)
2020
Revenue	$	1,627,149	$	829,312	$	306,259	$	155,086	$	6,127	$	2,923,933
Long-lived assets	627,871		286,229		145,410		62,931		1,917		1,124,358
2019
Revenue	$	1,471,097	$	726,421	$	271,987	$	146,218	$	5,503	$	2,621,226
Long-lived assets	602,654		253,665		127,495		60,213		101		1,044,128
2018
Revenue	$	1,267,620	$	643,957	$	206,382	$	142,495	$	5,642	$	2,266,096
Long-lived assets	597,223		205,185		74,051		56,262		156		932,877

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)

12 Months Ended

Dec. 26, 2020

Supplemental Balance Sheet Information [Abstract]

Composition of Trade Receivables, Net

The composition of trade receivables, net is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Client receivables	$	489,042	$	395,740
Unbilled revenue	135,400		121,957
Total	624,442		517,697
Less: Allowance for doubtful accounts	(6,702)		(3,664)
Trade receivables, net	$	617,740	$	514,033

Composition of Inventories

The composition of inventories is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Raw materials and supplies	$	28,317	$	24,613
Work in process	36,755		35,852
Finished products	120,623		100,195
Inventories	$	185,695	$	160,660

Composition of Other Current Assets

The composition of other current assets is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Prepaid income tax	$	68,462	$	54,358
Short-term investments	1,024		941
Restricted cash	3,074		431
Other	—		300
Other current assets	$	72,560	$	56,030

Composition of Property, Plant and Equipment, Net

The composition of property, plant and equipment, net is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Land	$	61,031	$	63,077
Buildings (1)	1,059,641		1,006,357
Machinery and equipment (1)	661,124		585,965
Leasehold improvements	104,967		84,630
Furniture and fixtures	31,489		28,304
Computer hardware and software (1)	193,622		179,865
Vehicles (1)	6,152		5,561
Construction in progress	92,325		67,939
Total	2,210,351		2,021,698
Less: Accumulated depreciation	(1,085,993)		(977,570)
Property, plant and equipment, net	$	1,124,358	$	1,044,128

(1) These balances include assets under finance leases. See Note 16, “Leases.”

Composition of Other Assets

The composition of other assets is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Venture capital investments	$	197,100	$	108,983
Strategic equity investments	24,704		13,996
Life insurance policies	43,827		38,207
Other long-term income tax assets	23,485		20,570
Restricted cash	1,621		1,601
Long-term pension assets	31,915		1,741
Other	29,974		27,517
Other assets	$	352,626	$	212,615

Composition of Other Current Liabilities

The composition of other current liabilities is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Current portion of operating lease right-of-use liabilities	$	24,674	$	20,357
Accrued income taxes	24,884		26,066
Customer contract deposits	42,244		33,080
Other	10,675		11,095
Other current liabilities	$	102,477	$	90,598

Schedule of Other Long-Term Liabilities

The composition of other long-term liabilities is as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
U.S. Transition Tax	$	48,781	$	52,066
Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plan	74,233		80,833
Long-term deferred revenue	19,475		20,983
Other	62,726		29,051
Other long-term liabilities	$	205,215	$	182,933

FAIR VALUE (Tables)

12 Months Ended

Dec. 26, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:


	December 26, 2020
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	2,273	$	—	$	2,273
Other assets:
Life insurance policies	—		35,770		—		35,770
Total assets measured at fair value	$	—	$	38,043	$	—	$	38,043

Other liabilities measured at fair value:
Contingent consideration	—		—		2,328		2,328

Total liabilities measured at fair value	$	—	$	—	$	2,328	$	2,328


	December 28, 2019
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	55,278	$	—	$	55,278
Other assets:
Life insurance policies	—		30,454		—		30,454
Total assets measured at fair value	$	—	$	85,732	$	—	$	85,732

Other current liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	712	$	712
Foreign currency forward contract	—		876		—		876
Total liabilities measured at fair value	$	—	$	876	$	712	$	1,588

Rollforward of Contingent Consideration

The following table provides a rollforward of the contingent consideration related to the Company’s business combinations.


	Fiscal Year
	2020		2019
	(in thousands)
Beginning balance	$	712	$	3,033
Additions	2,131		2,869
Payments	(230)		(5,252)
Total gains or losses (realized/unrealized):
Foreign currency translation	183		62
Reversal of previously recorded contingent liability and change in fair value	(468)		—
Ending balance	$	2,328	$	712

Schedule of Book and Fair Values of Debt

The book value and fair value of the Company’s 2026 and 2028 Senior Notes is summarized below:


	December 26, 2020				December 28, 2019
	Book Value		Fair Value		Book Value		Fair Value
2026 Senior Notes	$	500,000	$	523,100	$	500,000	$	537,500
2028 Senior Notes	500,000		523,750		500,000		510,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 26, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Rollforward of Goodwill

The following table provides a rollforward of the Company’s goodwill:


			Adjustments to Goodwill						Adjustments to Goodwill
	December 29, 2018		Acquisitions		Foreign Exchange		December 28, 2019		Acquisitions		Foreign Exchange		December 26, 2020
	(in thousands)
RMS	$	56,968	$	—	$	(382)	$	56,586	$	229,654	$	1,519	$	287,759
DSA	2,056,470		293,380		373		2,350,223		(629)		33,536		2,383,130
Manufacturing	138,695		—		61		138,756		—		4,523		143,279
Gross carrying amount	2,252,133		293,380		52		2,545,565		229,025		39,578		2,814,168
Accumulated impairment loss - DSA	(1,005,000)		—		—		(1,005,000)		—		—		(1,005,000)
Goodwill	$	1,247,133					$	1,540,565					$	1,809,168

Schedule of Intangible Assets, Net by Class

The following table displays intangible assets, net by major class:


	December 26, 2020						December 28, 2019
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Backlog	$	29,233	$	(29,233)	$	—	$	28,865	$	(26,895)	$	1,970
Technology	130,907		(81,305)		49,602		122,106		(57,737)		64,369
Trademarks and trade names	15,870		(5,648)		10,222		8,430		(4,901)		3,529
Other	20,903		(14,633)		6,270		18,279		(12,307)		5,972
Other intangible assets	196,913		(130,819)		66,094		177,680		(101,840)		75,840
Client relationships	1,137,331		(415,826)		721,505		934,668		(321,095)		613,573
Intangible assets	$	1,334,244	$	(546,645)	$	787,599	$	1,112,348	$	(422,935)	$	689,413

Schedule of Estimated Amortization Expense

As of December 26, 2020, estimated amortization expense for intangible assets for each of the next five fiscal years is expected to be as follows:


Fiscal Year	Amortization Expense
	(in thousands)
2021	$	104,272
2022	91,877
2023	83,651
2024	76,291
2025	71,915

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS (Tables)

12 Months Ended

Dec. 26, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt, Net

Long-term debt, net and finance leases consists of the following:


	December 26, 2020		December 28, 2019
	(in thousands)
Term loans	$	146,875	$	193,750
Revolving facility	814,752		676,134
2026 Senior Notes	500,000		500,000
2028 Senior Notes	500,000		500,000
Other debt	3,457		5,781
Finance leases (Note 16)	29,047		30,527
Total debt and finance leases	1,994,131		1,906,192
Less:
Current portion of long-term debt	47,196		35,548
Current portion of finance leases (Note 16)	3,018		2,997
Current portion of long-term debt and finance leases	50,214		38,545
Long-term debt and finance leases	1,943,917		1,867,647
Debt discount and debt issuance costs	(14,346)		(17,981)
Long-term debt, net and finance leases	$	1,929,571	$	1,849,666

Schedule of Principal Maturities of Existing Debt

Principal maturities of existing debt for the periods set forth in the table below, are as follows:


	Principal
	(in thousands)
2021	$	47,196
2022	93,963
2023	821,221
2024	487
2025	233
Thereafter	1,001,984
Total	$	1,965,084

EQUITY AND NONCONTROLLING INTERESTS (Tables)

12 Months Ended

Dec. 26, 2020

Equity [Abstract]

Reconciliation of the Numerator and Denominator in the Computations of the Basic and Diluted Earnings per Share

The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Numerator:
Income from continuing operations, net of income taxes	$	365,306	$	254,061	$	227,218
Income from discontinued operations, net of income taxes	—		—		1,506
Less: Net income attributable to noncontrolling interests	1,002		2,042		2,351
Net income attributable to common shareholders	$	364,304	$	252,019	$	226,373

Denominator:
Weighted-average shares outstanding—Basic	49,550		48,730		47,947
Effect of dilutive securities:
Stock options, restricted stock, restricted stock units and performance share units	1,061		963		1,071
Weighted-average shares outstanding—Diluted	50,611		49,693		49,018

Changes to Each Component of Accumulated Other Comprehensive Income (Loss), Net of Income Taxes

Changes to each component of accumulated other comprehensive income (loss), net of income taxes, are as follows:


	Foreign Currency Translation Adjustment and Other		Pension and Other Post-Retirement Benefit Plans		Total
	(in thousands)
December 29, 2018	$	(102,199)	$	(70,504)	$	(172,703)
Other comprehensive income (loss) before reclassifications (1)	14,444		(25,165)		(10,721)
Amounts reclassified from accumulated other comprehensive income	—		1,772		1,772
Net current period other comprehensive income (loss)	14,444		(23,393)		(8,949)
Income tax (benefit)	(177)		(3,456)		(3,633)
December 28, 2019	(87,578)		(90,441)		(178,019)
Other comprehensive income before reclassifications (1)	20,909		15,747		36,656
Amounts reclassified from accumulated other comprehensive income	—		17,861		17,861
Net current period other comprehensive income	20,909		33,608		54,517
Income tax expense	7,215		8,157		15,372
December 26, 2020	$	(73,884)	$	(64,990)	$	(138,874)
(1) The impact of the foreign currency translation adjustment to other comprehensive income (loss) before reclassifications was primarily due to the effect of changes in foreign currency exchange rates of the Euro, British Pound, Canadian Dollar, and Chinese Yuan Renminbi and to a lesser extent due to the impact of changes in the Japanese Yen and Brazilian Real.

Rollforward of Redeemable Noncontrolling Interest

The following table provides a rollforward of the activity related to the Company’s redeemable noncontrolling interests:


	Fiscal Year
	2020		2019
	(in thousands)
Beginning balance	$	28,647	$	18,525
Purchase of a 10% redeemable noncontrolling interest	(3,732)		—
Adjustment to Vital River redemption value	—		1,451
Purchase of Vital River 5% equity interest	—		(8,745)
Change in fair value of Vital River 8% equity interest, included in additional paid-in capital	—		2,708
Modification of Vital River 8% purchase option	—		2,196
Acquisition of an approximate 10% noncontrolling interest through acquiring Citoxlab	—		4,035
Acquisition of a 20% noncontrolling interest	—		8,740
Net loss attributable to noncontrolling interests	(852)		(42)
Foreign currency translation	1,436		(221)
Ending balance	$	25,499	$	28,647

INCOME TAXES (Tables)

12 Months Ended

Dec. 26, 2020

Income Tax Disclosure [Abstract]

Components of Income from Continuing Operations Before Income Taxes and the Related Provision for Income Taxes

The components of income from continuing operations before income taxes and the related provision for income taxes are presented below:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Income from continuing operations before income taxes:
U.S.	$	226,935	$	108,326	$	95,062
Non-U.S.	220,179		195,758		186,619
Total income from continuing operations, before income taxes	$	447,114	$	304,084	$	281,681
Income tax provision (benefit):
Current:
Federal	$	38,192	$	18,101	$	17,390
Foreign	35,410		43,489		38,557
State	6,623		9,915		8,837
Total current	80,225		71,505		64,784
Deferred:
Federal	386		(3,226)		(7,145)
Foreign	5,583		(17,111)		(4,104)
State	(4,386)		(1,145)		928
Total deferred	1,583		(21,482)		(10,321)
Total provision for income taxes	$	81,808	$	50,023	$	54,463

Reconciliations of the Statutory U.S. Federal Income Tax Rate to Effective Tax Rates

Reconciliations of the statutory U.S. federal income tax rate to effective tax rates are as follows:


	Fiscal Year
	2020		2019		2018
U.S. statutory income tax rate	21.0	%	21.0	%	21.0	%
Foreign tax rate differences	1.2		2.7		0.5
State income taxes, net of federal tax benefit	0.4		2.6		2.4
Non-deductible compensation	1.0		1.7		1.0
Research tax credits and enhanced deductions	(3.4)		(4.4)		(2.9)
Stock-based compensation	(2.7)		(2.2)		(2.1)
Impact of tax uncertainties	(0.2)		(2.6)		(1.1)
Tax on unremitted earnings	1.3		1.7		1.2
Impact of acquisitions and restructuring	0.5		2.7		0.3
Net operating loss deferred tax asset recognition, net of valuation allowance (NOL DTA)	(0.1)		(6.8)		—
Other	(0.7)		0.1		(1.0)
Effective income tax rate	18.3	%	16.5	%	19.3	%

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Deferred tax assets:
Compensation	$	32,118	$	40,582
Accruals and reserves	17,970		13,687
Net operating loss and credit carryforwards	406,085		367,269
Operating lease liability	43,646		33,785
Other	4,253		7,181
Valuation allowance	(334,845)		(309,962)
Total deferred tax assets	169,227		152,542
Deferred tax liabilities:
Goodwill and other intangibles	(202,430)		(174,847)
Depreciation related	(33,277)		(29,317)
Venture capital investments	(32,848)		(12,806)
Tax on unremitted earnings	(27,707)		(17,282)
Right-of-use assets	(43,557)		(34,953)
Other	(8,710)		(5,961)
Total deferred tax liabilities	(348,529)		(275,166)
Net deferred taxes	$	(179,302)	$	(122,624)

Reconciliation of the Company's Beginning and Ending Unrecognized Income Tax Benefits

A reconciliation of the Company’s beginning and ending unrecognized income tax benefits is as follows:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Beginning balance	$	19,665	$	18,827	$	24,710
Additions to tax positions for current year	7,044		3,691		2,477
Additions to tax positions for prior years	4,589		5,234		—
Reductions to tax positions for prior years	(127)		(1,033)		(4,543)
Settlements	(5,859)		(274)		(3,380)
Expiration of statute of limitations	(342)		(6,780)		(437)
Ending balance	$	24,970	$	19,665	$	18,827

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 26, 2020

Retirement Benefits [Abstract]

Reconciliation of Benefit Obligations and Plans Assets of the Company's Pension Plans

The following table provides a reconciliation of benefit obligations and plan assets of the Company’s pension, DCP and ESLIRP plans:


	December 26, 2020		December 28, 2019
	(in thousands)
Change in projected benefit obligations:
Benefit obligation at beginning of year	$	447,409	$	362,805
Service cost	3,609		2,833
Interest cost	8,849		11,583
Other	429		850
Benefit payments	(8,913)		(11,062)
Settlements	(101,979)		(74)
Special/Contractual Termination Benefits	—		166
Transfer in from acquisition	—		6,818
Actuarial loss	9,816		66,432
Administrative expenses paid	(808)		(470)
Effect of foreign exchange	9,056		7,528
Benefit obligation at end of year	$	367,468	$	447,409
Change in fair value of plan assets:
Fair value of plan assets at beginning of year	$	357,181	$	305,709
Actual return on plan assets	36,551		53,741
Employer contributions	34,092		2,105
Settlements	(101,979)		(74)
Transfer in from acquisition	—		119
Benefit payments	(8,913)		(11,062)
Administrative expenses paid	(808)		(470)
Effect of foreign exchange	8,628		7,113
Fair value of plan assets at end of year	$	324,752	$	357,181

Net balance sheet liability	$	42,716	$	90,228

Amounts recognized in balance sheet:
Noncurrent assets	$	31,916	$	1,742
Current liabilities	1,713		12,788
Noncurrent liabilities	72,919		79,182

Amounts Recognized in Accumulated Other Comprehensive Loss Related to the Company's Pensions Plans

Amounts recognized in accumulated other comprehensive loss related to the Company’s pension, DCP and ESLIRP plans are as follows:


	Fiscal Year
	2020		2019
	(in thousands)
Net actuarial loss	$	82,914	$	116,930
Net prior service cost (credit)	(1,593)		(2,096)
Net amount recognized	$	81,321	$	114,834

Accumulated Benefit Obligation and Fair of Plan Assets

The accumulated benefit obligation and fair value of plan assets for the Company’s pension, DCP and ESLIRP plans with accumulated benefit obligations in excess of plan assets are as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Accumulated benefit obligation	$	72,940	$	410,243
Fair value of plan assets	11,543		337,344

Projected Benefit Obligation and Fair Value of Plan Assets

The projected benefit obligation and fair value of plan assets for the Company’s pension, DCP and ESLIRP plans with projected benefit obligations in excess of plan assets are as follows:


	December 26, 2020		December 28, 2019
	(in thousands)
Projected benefit obligation	$	93,192	$	435,638
Fair value of plan assets	18,560		343,688

Components of Net Periodic Benefit Costs for the Company's Pension Plans

Components of total benefit cost for the Company’s pension, DCP and ESLIRP plans are as follows:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Service cost	$	3,609	$	2,833	$	2,612
Interest cost	8,849		11,583		10,850
Expected return on plan assets	(11,348)		(13,005)		(15,516)
Amortization of prior service credit	(489)		(489)		(514)
Amortization of net loss	6,239		2,250		2,990
Other	417		850		910
Net periodic benefit cost	$	7,277	$	4,022	$	1,332
Settlement	12,385		—		—
Total benefit cost	$	19,662	$	4,022	$	1,332

Weighted-average Assumptions

Weighted-average assumptions used to determine projected benefit obligations are as follows:


	December 26, 2020		December 28, 2019
Discount rate	1.48	%	2.14	%
Rate of compensation increase	2.98	%	2.99	%

Weighted-average assumptions used to determine net periodic benefit cost are as follows:


	December 26, 2020		December 28, 2019		December 29, 2018
Discount rate	2.14	%	3.21	%	2.82	%
Expected long-term return on plan assets	3.35	%	4.28	%	5.18	%
Rate of compensation increase	2.99	%	3.23	%	3.16	%

Fair Value of the Company's Pension Plan Assets by Asset Category

The fair value of the Company’s pension plan assets by asset category are as follows:


	December 26, 2020								December 28, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in thousands)
Cash and cash equivalents	$	20,163	$	1,466	$	—	$	21,629	$	2,388	$	1,022	$	—	$	3,410
Equity securities (1)	8,633		54,832		—		63,465		7,621		84,377		—		91,998
Debt securities (2)	—		99,188		—		99,188		40,281		89,684		—		129,965
Mutual funds (3)	7,018		65,189		—		72,207		6,324		68,632		—		74,956
Other (4)	508		66,439		1,316		68,263		551		54,787		1,514		56,852
Total	$	36,322	$	287,114	$	1,316	$	324,752	$	57,165	$	298,502	$	1,514	$	357,181
(1) This category comprises equity investments and securities held by non-U.S. pension plans valued at the quoted closing price and translated into U.S. dollars using a foreign currency exchange rate at year end.
(2) This category comprises debt investments and securities held by non-U.S. pension plans valued at the quoted closing price and translated into U.S. dollars using a foreign currency exchange rate at year end. Holdings primarily include investment-grade corporate bonds and treasuries at various durations.
(3) This category comprises mutual funds valued at the net asset value of shares held by non-U.S. pension plans at year end and translated into U.S. dollars using a foreign currency exchange rate at year end.
(4) This category mainly comprises fixed income securities tied to various U.K. government bond yields held by non-US pension plans valued at the net asset value of shares held at year-end and translated into U.S. dollars using a foreign currency exchange rate at year end.

Estimated Future Benefit Payments Over the Next Five Years


Fiscal Year	Pension Plans
	(in thousands)
2021	$	6,457
2022	6,890
2023	41,395
2024	7,595
2025	7,847
2026-2030	42,617

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 26, 2020

Share-based Payment Arrangement [Abstract]

Financial Statement Line Items in Which Stock-based Compensation is Reflected

The following table provides stock-based compensation by the financial statement line item in which it is reflected:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Cost of revenue	$	10,636	$	9,038	$	6,285
Selling, general and administrative	45,705		48,233		41,061
Stock-based compensation, before income taxes	56,341		57,271		47,346
Provision for income taxes	(8,130)		(9,465)		(9,188)
Stock-based compensation, net of income taxes	$	48,211	$	47,806	$	38,158

Summary of Stock Option Activity

The following table summarizes stock option activity under the Company’s stock-based compensation plans:


	Number of shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in thousands)			(in years)	(in thousands)
Options outstanding as of December 28, 2019	1,507	$	105.19
Options granted	292	$	178.79
Options exercised	(533)	$	87.45
Options canceled	(50)	$	134.02
Options outstanding as of December 26, 2020	1,216	$	129.34	3.8	$	148,795
Options exercisable as of December 26, 2020	308	$	98.34	1.5	$	47,163
Options expected to vest as of December 26, 2020	908	$	139.84	4.6	$	101,632

Weighted-average Assumptions

The fair value of stock options granted was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	Fiscal Year
	2020		2019		2018
Expected life (in years)	6.0		3.6		3.7
Expected volatility	30	%	27	%	25	%
Risk-free interest rate	0.4	%	2.4	%	2.4	%
Expected dividend yield	0	%	0	%	0	%

Summary of Restricted Stock and Restricted Stock Unit Activity

The following table summarizes the restricted stock units activity for fiscal year 2020:


	Restricted Stock Units	Weighted Average Grant Date Fair Value
	(in thousands)
December 28, 2019	496	$	116.07
Granted	178	$	182.10
Vested	(187)	$	106.94
Canceled	(21)	$	136.15
December 26, 2020	466	$	144.03

Information about PSUs and Related Weighted-Average Assumptions


	Fiscal Year
	2020			2019			2018
	(shares in thousands)
PSUs granted	98			160			200
Weighted average grant date fair value	$	209.67		$	164.47		$	117.89
Key assumptions:
Expected volatility	35		%	25		%	26		%
Risk-free interest rate	0.2		%	2.4		%	2.4		%
Expected dividend yield	0		%	0		%	0		%
Total shareholder return of 20-trading day average stock price on grant date	21.7		%	17.7		%	2.9		%

FOREIGN CURRENCY CONTRACTS (Tables)

12 Months Ended

Dec. 26, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments on Statements of Income


	Fiscal Year
	2020				2019				2018
Location of gain (loss)	Financial statement caption amount		Amount of gain (loss)		Financial statement caption amount		Amount of gain (loss)		Financial statement caption amount		Amount of gain (loss)
	(in thousands)
Interest expense	$	86,433	$	(9,325)	$	60,882	$	18,672	$	63,772	$	1,486

The following table summarizes the effect of the foreign exchange forward contracts in connection with certain intercompany loans on the Company’s consolidated statements of income:


	Fiscal Year
	2020				2019
Location of gain (loss)	Financial statement caption amount		Amount of gain (loss)		Financial statement caption amount		Amount of gain (loss)
	(in thousands)
Other income, net	$	99,984	$	(892)	$	12,293	$	(121)

Schedule of Notional and Fair Value of Foreign Currency Contracts

The notional amount and fair value of the open contract is summarized as follows:


December 28, 2019
Notional Amount		Fair Value		Balance Sheet Location
(in thousands)
$	115,038	$	(876)	Other current liabilities

RESTRUCTURING AND ASSET IMPAIRMENTS (Tables)

12 Months Ended

Dec. 26, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs

The following table presents a summary of restructuring costs related to these initiatives by classification within the consolidated statements of income:


	Severance and Transition Costs		Asset Impairments and Other Costs		Total
	(in thousands)
December 26, 2020
Cost of services provided and products sold (excluding amortization of intangible assets)	$	4,453	$	920	$	5,373
Selling, general and administrative	3,137		4,084		7,221
Total	$	7,590	$	5,004	$	12,594
December 28, 2019
Cost of services provided and products sold (excluding amortization of intangible assets)	$	4,348	$	2,367	$	6,715
Selling, general and administrative	7,106		18		7,124
Total	$	11,454	$	2,385	$	13,839
December 29, 2018
Cost of services provided and products sold (excluding amortization of intangible assets)	$	1,770	$	849	$	2,619
Selling, general and administrative	6,911		21		6,932
Total	$	8,681	$	870	$	9,551

The following table presents restructuring costs by reportable segment for these productivity improvement initiatives:


	Fiscal Year
	2020		2019		2018
	(in thousands)
RMS	$	845	$	3,110	$	1,983
DSA	8,605		7,307		1,063
Manufacturing	2,733		3,032		1,227
Unallocated corporate	411		390		5,278
Total	$	12,594	$	13,839	$	9,551

Rollforward of Company's Severance and Retention Costs Liability

The following table provides a rollforward for all of the Company’s severance and transition costs related to restructuring activities:


	Fiscal Year
	2020		2019		2018
	(in thousands)
Beginning balance	$	6,406	$	2,921	$	6,856
Expense (excluding non-cash charges)	9,284		12,674		8,681
Payments / utilization	(9,918)		(9,206)		(12,341)
Foreign currency adjustments	46		17		(275)
Ending balance	$	5,818	$	6,406	$	2,921

LEASES (Tables)

12 Months Ended

Dec. 26, 2020

Leases [Abstract]

Schedule of Right-of-Use Lease Assets and Lease Liabilities in Condensed Financial Statements

Right-of-use lease assets and lease liabilities are reported in the Company’s consolidated balance sheets as follows:


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Operating leases
Operating lease right-of-use assets, net	$	178,220	$	140,085

Other current liabilities	$	24,674	$	20,357
Operating lease right-of-use liabilities	155,595		116,252
Total operating lease liabilities	$	180,269	$	136,609

Finance leases
Property, plant and equipment, net	$	31,614	$	32,519

Current portion of long-term debt and finance leases	$	3,018	$	2,997
Long-term debt, net and finance leases	26,029		27,530
Total finance lease liabilities	$	29,047	$	30,527

Schedule of Operating and Finance Lease Costs and Supplemental Cash Flow Information

The components of operating and finance lease costs were as follows:


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Operating lease costs	$	32,965	$	30,885
Finance lease costs:
Amortization of right-of-use assets	3,723		4,007
Interest on lease liabilities	1,306		1,349
Short-term lease costs	2,349		1,056
Variable lease costs	5,122		3,161
Sublease income	(1,673)		(994)
Total lease costs	$	43,792	$	39,464

Other information related to leases was as follows:

Supplemental cash flow information


	Fiscal Year
	December 26, 2020		December 28, 2019
	(in thousands)
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	29,961	$	27,153
Operating cash flows from finance leases	1,306		1,406
Finance cash flows from finance leases	4,350		3,766

Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities	$	63,499	$	24,382
Right-of-use lease assets obtained in exchange for new finance lease liabilities	1,571		4,819

Lease term and discount rate


	As of		As of
	December 26, 2020		December 28, 2019
Weighted-average remaining lease term (in years)
Operating lease	8.5		8.2
Finance lease	12.4		13.0
Weighted-average discount rate
Operating lease	4.5	%	4.4	%
Finance lease	4.1	%	4.6	%

Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating Leases After Adoption

As of December 26, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:


	Operating Leases		Finance Leases
	(in thousands)
2021	$	31,326	$	4,242
2022	27,803		3,673
2023	25,014		3,348
2024	24,244		3,118
2025	21,792		2,841
Thereafter	85,249		20,906
Total minimum future lease payments	215,428		38,128
Less: Imputed interest	35,159		9,081
Total lease liabilities	$	180,269	$	29,047

Schedule of Future Minimum Lease Payments Under Non-Cancellable Finance Leases After Adoption

As of December 26, 2020, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:


	Operating Leases		Finance Leases
	(in thousands)
2021	$	31,326	$	4,242
2022	27,803		3,673
2023	25,014		3,348
2024	24,244		3,118
2025	21,792		2,841
Thereafter	85,249		20,906
Total minimum future lease payments	215,428		38,128
Less: Imputed interest	35,159		9,081
Total lease liabilities	$	180,269	$	29,047

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 26, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Unconditional Purchase Obligations

The aggregate amount of the Company’s unconditional purchase obligations totaled $197.4 million as of December 26, 2020 and is expected to be paid as follows:


	Payments Due by Period
	Less than 1 Year		1 - 3 Years		3 - 5 Years		Total
	(in thousands)
Unconditional purchase obligations	$	166,078	$	30,617	$	673	$	197,368

SELECTED QUARTERLY FINANCIAL DATA (unaudited) (Tables)

12 Months Ended

Dec. 26, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Data

The following table contains quarterly financial information for fiscal years 2020 and 2019. The operating results for any quarter are not necessarily indicative of future period results.


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(in thousands, except per share amounts)
Fiscal Year 2020
Total revenue	$	707,059	$	682,584	$	743,300	$	790,990
Gross profit (1)	252,061		232,238		289,274		299,968
Operating income	94,281		76,768		132,753		128,927
Net income attributable to common shareholders	50,769		67,435		102,909		143,191

Earnings per common share
Net income attributable to common shareholders:
Basic	$	1.03	$	1.36	$	2.07	$	2.88
Diluted	$	1.02	$	1.34	$	2.03	$	2.81

Fiscal Year 2019
Total revenue	$	604,569	$	657,568	$	667,951	$	691,138
Gross profit (1)	211,777		238,104		246,116		262,314
Operating income	69,792		79,768		92,802		108,789
Net income attributable to common shareholders	55,133		43,728		72,810		80,348

Earnings per common share
Net income attributable to common shareholders:
Basic	$	1.14	$	0.90	$	1.49	$	1.64
Diluted	$	1.11	$	0.88	$	1.46	$	1.61
(1) Gross profit is calculated as total revenue minus cost of revenue (excluding amortization of intangible assets).

Full-year amounts may not sum due to rounding.

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 26, 2020 USD ($) segment contract	Dec. 28, 2019 USD ($) contract	Dec. 30, 2018 USD ($)
Debt Instrument [Line Items]
Number of reportable segments \| segment	3
Number of life insurance contracts \| contract	44	44
Face value of life insurance contracts	$ 79,100	$ 72,700
Long-term debt, net and finance leases	(1,929,571)	(1,849,666)
Operating lease right-of-use assets, net	178,220	140,085
Operating lease liability	$ 180,269	$ 136,609
Cumulative Effect, Period of Adoption, Adjustment
Debt Instrument [Line Items]
Long-term debt, net and finance leases			$ 26,000
Operating lease right-of-use assets, net			134,000
Operating lease liability			$ 127,000
Minimum
Debt Instrument [Line Items]
Company's ownership percentage	1.00%
Renewal term for leases	1 year
Maximum
Debt Instrument [Line Items]
Company's ownership percentage	12.00%
Renewal term for leases	5 years

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment, Net (Details)	12 Months Ended
	Dec. 26, 2020
Minimum \| Buildings
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	20 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Minimum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Minimum \| Computer hardware and software
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Minimum \| Vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum \| Buildings
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	20 years
Maximum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Maximum \| Computer hardware and software
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	8 years
Maximum \| Vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years

BUSINESS COMBINATIONS - Additional Information (Details) - USD ($) $ in Thousands								9 Months Ended	12 Months Ended
	Dec. 31, 2020	Aug. 06, 2020	Jan. 03, 2020	Aug. 28, 2019	Apr. 29, 2019	Apr. 03, 2018	Jan. 11, 2018	Dec. 29, 2018	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018	Feb. 29, 2020
Business Acquisition [Line Items]
Goodwill								$ 1,247,133	$ 1,809,168	$ 1,540,565	$ 1,247,133
Distributed Bio
Business Acquisition [Line Items]
Transaction and integration costs									1,200
Distributed Bio \| Subsequent Event
Business Acquisition [Line Items]
Purchase price	$ 83,000
Contingent consideration	$ 21,000
Cellero, LLC
Business Acquisition [Line Items]
Purchase price		$ 37,400
Transaction and integration costs									2,700
Purchase price allocation		36,850
Cash acquired		500
Goodwill resulting from transaction		$ 10,800
Weighted average life		12 years
Goodwill		$ 19,457
Definite-lived intangible assets		$ 16,230
Cellero, LLC \| Client relationships
Business Acquisition [Line Items]
Weighted average life		13 years
HemaCare Corporation
Business Acquisition [Line Items]
Purchase price			$ 379,800
Transaction and integration costs									6,100	3,300
Purchase price allocation			376,721
Cash acquired			$ 3,100
Revenue since acquisition									43,000
Operating income (loss) since acquisition									8,100
Weighted average life			18 years
Goodwill			$ 210,196
Definite-lived intangible assets			$ 183,540
HemaCare Corporation \| Client relationships
Business Acquisition [Line Items]
Weighted average life			19 years
HemaCare Corporation \| Depreciation and Amortization Expense
Business Acquisition [Line Items]
Adjustments to purchase price									1,200	12,800
HemaCare Corporation \| Interest Expense
Business Acquisition [Line Items]
Adjustments to purchase price										10,800
Citoxlab
Business Acquisition [Line Items]
Purchase price					$ 527,100
Contingent consideration												$ 2,000
Transaction and integration costs									4,100	20,700
Purchase price allocation					490,357
Cash acquired					36,700
Goodwill resulting from transaction					$ 7,200
Weighted average life					12 years
Goodwill					$ 280,161
Definite-lived intangible assets					$ 162,400
Citoxlab \| Client relationships
Business Acquisition [Line Items]
Weighted average life					13 years
Citoxlab \| Depreciation and Amortization Expense
Business Acquisition [Line Items]
Adjustments to purchase price										5,700	9,400
Citoxlab \| Interest Expense
Business Acquisition [Line Items]
Adjustments to purchase price										1,200	4,100
MPI Research
Business Acquisition [Line Items]
Purchase price						$ 829,700
Transaction and integration costs									$ 0	$ 0	16,500
Purchase price allocation						800,800
Cash acquired						27,700
Goodwill resulting from transaction						4,100
Revenue since acquisition								209,500
Operating income (loss) since acquisition								$ 33,400
Adjustments to purchase price						$ 1,200
Weighted average life						12 years
Goodwill						$ 441,656
Definite-lived intangible assets						$ 309,200
MPI Research \| Client relationships
Business Acquisition [Line Items]
Weighted average life						13 years
MPI Research \| Depreciation and Amortization Expense
Business Acquisition [Line Items]
Adjustments to purchase price											14,100
MPI Research \| Interest Expense
Business Acquisition [Line Items]
Adjustments to purchase price											$ 2,800
KWS BioTest Limited
Business Acquisition [Line Items]
Purchase price							$ 20,000
Weighted average life							12 years
Goodwill							$ 18,000
Definite-lived intangible assets							$ 4,000
Other Acquisitions
Business Acquisition [Line Items]
Purchase price				$ 23,000
Amount of pre-existing relationship for supply agreement				4,000
Goodwill				$ 13,000
Supplier
Business Acquisition [Line Items]
Ownership percentage				80.00%
Remaining ownership interest				20.00%	20.00%
Supplier \| Other Acquisitions
Business Acquisition [Line Items]
Ownership percentage				80.00%
Remaining ownership interest				20.00%

BUSINESS COMBINATIONS - Purchase Price Allocations (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Aug. 06, 2020	Jan. 03, 2020	Dec. 28, 2019	Aug. 28, 2019	Apr. 29, 2019	Dec. 29, 2018	Apr. 03, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,809,168			$ 1,540,565			$ 1,247,133
Cellero, LLC
Business Acquisition [Line Items]
Trade receivables		$ 1,500
Inventories		551
Other current assets (excluding cash)		182
Property, plant and equipment		1,648
Goodwill		19,457
Definite-lived intangible assets		16,230
Other long-term assets		849
Current liabilities		(1,360)
Deferred tax liabilities		(1,467)
Other long-term liabilities		(740)
Total purchase price allocation		$ 36,850
HemaCare Corporation
Business Acquisition [Line Items]
Trade receivables			$ 6,451
Inventories			8,468
Other current assets (excluding cash)			3,494
Property, plant and equipment			10,033
Goodwill			210,196
Definite-lived intangible assets			183,540
Other long-term assets			5,920
Current liabilities			(5,188)
Deferred tax liabilities			(38,529)
Other long-term liabilities			(7,664)
Total purchase price allocation			$ 376,721
Citoxlab
Business Acquisition [Line Items]
Trade receivables						$ 35,405
Inventories						5,282
Other current assets (excluding cash)						13,917
Property, plant and equipment						88,605
Goodwill						280,161
Definite-lived intangible assets						162,400
Other long-term assets						20,063
Deferred revenue						(15,278)
Current liabilities						(46,081)
Deferred tax liabilities						(27,458)
Other long-term liabilities						(22,624)
Redeemable noncontrolling interest						(4,035)
Total purchase price allocation						$ 490,357
MPI Research
Business Acquisition [Line Items]
Trade receivables								$ 35,073
Inventories								4,463
Other current assets (excluding cash)								5,893
Property, plant and equipment								128,403
Goodwill								441,656
Definite-lived intangible assets								309,200
Other long-term assets								1,081
Deferred revenue								(23,926)
Current liabilities								(32,885)
Deferred tax liabilities								(65,945)
Other long-term liabilities								(2,213)
Total purchase price allocation								$ 800,800
Other Acquisitions
Business Acquisition [Line Items]
Goodwill					$ 13,000
Other long-term assets					12,000
Redeemable noncontrolling interest					$ (9,000)

BUSINESS COMBINATIONS - Definite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 06, 2020	Jan. 03, 2020	Apr. 29, 2019	Apr. 03, 2018
Cellero, LLC
Business Acquisition [Line Items]
Definite-lived intangible assets acquired	$ 16,230
Weighted average amortization life of intangible assets acquired	12 years
HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired		$ 183,540
Weighted average amortization life of intangible assets acquired		18 years
Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired			$ 162,400
Weighted average amortization life of intangible assets acquired			12 years
MPI Research
Business Acquisition [Line Items]
Definite-lived intangible assets acquired				$ 309,200
Weighted average amortization life of intangible assets acquired				12 years
Client relationships \| Cellero, LLC
Business Acquisition [Line Items]
Definite-lived intangible assets acquired	$ 14,740
Weighted average amortization life of intangible assets acquired	13 years
Client relationships \| HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired		$ 170,390
Weighted average amortization life of intangible assets acquired		19 years
Client relationships \| Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired			$ 134,600
Weighted average amortization life of intangible assets acquired			13 years
Client relationships \| MPI Research
Business Acquisition [Line Items]
Definite-lived intangible assets acquired				$ 264,900
Weighted average amortization life of intangible assets acquired				13 years
Trade name \| HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired		$ 7,330
Weighted average amortization life of intangible assets acquired		10 years
Other intangible assets \| Cellero, LLC
Business Acquisition [Line Items]
Definite-lived intangible assets acquired	$ 1,490
Weighted average amortization life of intangible assets acquired	3 years
Other intangible assets \| HemaCare Corporation
Business Acquisition [Line Items]
Definite-lived intangible assets acquired		$ 5,820
Weighted average amortization life of intangible assets acquired		3 years
Developed technology \| Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired			$ 19,900
Weighted average amortization life of intangible assets acquired			3 years
Developed technology \| MPI Research
Business Acquisition [Line Items]
Definite-lived intangible assets acquired				$ 23,400
Weighted average amortization life of intangible assets acquired				3 years
Backlog \| Citoxlab
Business Acquisition [Line Items]
Definite-lived intangible assets acquired			$ 7,900
Weighted average amortization life of intangible assets acquired			1 year
Backlog \| MPI Research
Business Acquisition [Line Items]
Definite-lived intangible assets acquired				$ 20,900
Weighted average amortization life of intangible assets acquired				1 year

BUSINESS COMBINATIONS - Pro Forma Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
HemaCare Corporation
Business Acquisition [Line Items]
Revenue	$ 2,923,951	$ 2,661,565
Net income attributable to common shareholders	$ 368,800	245,423
Citoxlab
Business Acquisition [Line Items]
Revenue		2,683,610	$ 2,442,283
Net income attributable to common shareholders		$ 268,995	233,288
MPI Research
Business Acquisition [Line Items]
Revenue			2,328,213
Net income attributable to common shareholders			$ 225,550

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregation of Revenues by Major Business Line (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 790,990	$ 743,300	$ 682,584	$ 707,059	$ 691,138	$ 667,951	$ 657,568	$ 604,569	$ 2,923,933	$ 2,621,226	$ 2,266,096
RMS
Disaggregation of Revenue [Line Items]
Revenue									571,152	537,089	519,682
RMS \| Services and products transferred over time
Disaggregation of Revenue [Line Items]
Revenue									240,480	227,872	202,872
RMS \| Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue									330,672	309,217	316,810
DSA
Disaggregation of Revenue [Line Items]
Revenue									1,837,428	1,618,995	1,316,854
DSA \| Services and products transferred over time
Disaggregation of Revenue [Line Items]
Revenue									1,836,519	1,618,281	1,316,005
DSA \| Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue									909	714	849
Manufacturing
Disaggregation of Revenue [Line Items]
Revenue									515,353	465,142	429,560
Manufacturing \| Services and products transferred over time
Disaggregation of Revenue [Line Items]
Revenue									174,254	142,896	128,287
Manufacturing \| Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue									$ 341,099	$ 322,246	$ 301,273

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 4
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Client Receivables, Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Revenue from Contract with Customer [Abstract]
Client receivables	$ 489,042	$ 395,740
Contract assets (unbilled revenue)	135,400	121,957
Contract liabilities (current and long-term deferred revenue)	227,417	192,788
Contract liabilities (customer contract deposits)	$ 42,244	$ 33,080

REVENUE FROM CONTRACTS WITH CUSTOMERS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Revenue from Contract with Customer [Abstract]
Payment terms	30 days
Unpaid advanced client billings	$ 16,000	$ 27,000
Contract liabilities (customer contract deposits)	$ 42,244	$ 33,080
Percentage of unbilled revenue billed during period	90.00%	95.00%
Amount of unbilled revenue billed during period		$ 105,000
Percentage of contract liabilities recognized as revenue during period	90.00%	85.00%
Amount of contract liabilities recognized as revenue		$ 180,000

SEGMENT AND GEOGRAPHIC INFORMATION - Financial Information by Reportable Business Segment (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2020 USD ($)	Sep. 26, 2020 USD ($)	Jun. 27, 2020 USD ($)	Mar. 28, 2020 USD ($)	Dec. 28, 2019 USD ($)	Sep. 28, 2019 USD ($)	Jun. 29, 2019 USD ($)	Mar. 30, 2019 USD ($)	Dec. 26, 2020 USD ($) segment	Dec. 28, 2019 USD ($)	Dec. 29, 2018 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment									3
Segment Reporting Information [Line Items]
Revenue	$ 790,990	$ 743,300	$ 682,584	$ 707,059	$ 691,138	$ 667,951	$ 657,568	$ 604,569	$ 2,923,933	$ 2,621,226	$ 2,266,096
Operating income	$ 128,927	$ 132,753	$ 76,768	$ 94,281	$ 108,789	$ 92,802	$ 79,768	$ 69,792	432,729	351,151	331,383
Depreciation and amortization									234,924	198,095	161,779
Capital expenditures									166,560	140,514	140,054
RMS
Segment Reporting Information [Line Items]
Revenue									571,152	537,089	519,682
Operating income									102,706	133,912	136,468
Depreciation and amortization									37,080	19,197	19,469
Capital expenditures									29,487	26,989	35,172
DSA
Segment Reporting Information [Line Items]
Revenue									1,837,428	1,618,995	1,316,854
Operating income									325,959	258,903	227,577
Depreciation and amortization									168,922	151,139	112,976
Capital expenditures									105,653	86,843	73,425
Manufacturing
Segment Reporting Information [Line Items]
Revenue									515,353	465,142	429,560
Operating income									181,494	145,420	136,212
Depreciation and amortization									25,904	23,584	22,529
Capital expenditures									$ 26,287	$ 23,617	$ 23,323

SEGMENT AND GEOGRAPHIC INFORMATION - Reconciliation of Segment Operating Income, Depreciation, Amortization and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Segment Reporting Information [Line Items]
Operating income	$ 128,927	$ 132,753	$ 76,768	$ 94,281	$ 108,789	$ 92,802	$ 79,768	$ 69,792	$ 432,729	$ 351,151	$ 331,383
Depreciation and Amortization									234,924	198,095	161,779
Capital Expenditures									166,560	140,514	140,054
Total reportable segments
Segment Reporting Information [Line Items]
Operating income									610,159	538,235	500,257
Depreciation and Amortization									231,906	193,920	154,974
Capital Expenditures									161,427	137,449	131,920
Unallocated corporate
Segment Reporting Information [Line Items]
Operating income									(177,430)	(187,084)	(168,874)
Depreciation and Amortization									3,018	4,175	6,805
Capital Expenditures									$ 5,133	$ 3,065	$ 8,134

SEGMENT AND GEOGRAPHIC INFORMATION - Revenue by Product and Service Offering (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Segment Reporting Information [Line Items]
Revenue	$ 790,990	$ 743,300	$ 682,584	$ 707,059	$ 691,138	$ 667,951	$ 657,568	$ 604,569	$ 2,923,933	$ 2,621,226	$ 2,266,096
RMS
Segment Reporting Information [Line Items]
Revenue									571,152	537,089	519,682
DSA
Segment Reporting Information [Line Items]
Revenue									1,837,428	1,618,995	1,316,854
Manufacturing
Segment Reporting Information [Line Items]
Revenue									$ 515,353	$ 465,142	$ 429,560

- Definition

+ References

+ Details

SEGMENT AND GEOGRAPHIC INFORMATION - Unallocated Corporate Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Segment Reporting Information [Line Items]
Stock-based compensation	$ 56,341	$ 57,271	$ 47,346
Depreciation	123,000	108,600	96,900
Unallocated corporate
Segment Reporting Information [Line Items]
Stock-based compensation	34,111	37,855	32,068
Compensation, benefits, and other employee-related expenses	73,814	73,893	69,191
External consulting and other service expenses	26,561	16,639	18,652
Information technology	18,912	16,080	12,463
Depreciation	3,018	4,175	6,805
Acquisition and integration	13,995	26,877	16,295
Other general unallocated corporate	7,019	11,565	13,400
Total unallocated corporate expense	$ 177,430	$ 187,084	$ 168,874

SEGMENT AND GEOGRAPHIC INFORMATION - Revenue and Long-Lived Assets by Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Segment Reporting Information [Line Items]
Revenue	$ 790,990	$ 743,300	$ 682,584	$ 707,059	$ 691,138	$ 667,951	$ 657,568	$ 604,569	$ 2,923,933	$ 2,621,226	$ 2,266,096
Long-lived assets	1,124,358				1,044,128				1,124,358	1,044,128	932,877
U.S.
Segment Reporting Information [Line Items]
Revenue									1,627,149	1,471,097	1,267,620
Long-lived assets	627,871				602,654				627,871	602,654	597,223
Europe
Segment Reporting Information [Line Items]
Revenue									829,312	726,421	643,957
Long-lived assets	286,229				253,665				286,229	253,665	205,185
Canada
Segment Reporting Information [Line Items]
Revenue									306,259	271,987	206,382
Long-lived assets	145,410				127,495				145,410	127,495	74,051
Asia Pacific
Segment Reporting Information [Line Items]
Revenue									155,086	146,218	142,495
Long-lived assets	62,931				60,213				62,931	60,213	56,262
Other
Segment Reporting Information [Line Items]
Revenue									6,127	5,503	5,642
Long-lived assets	$ 1,917				$ 101				$ 1,917	$ 101	$ 156

- Definition

+ References

+ Details

SUPPLEMENTAL BALANCE SHEET INFORMATION - Composition of Trade Receivables, Net (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Supplemental Balance Sheet Information [Abstract]
Client receivables	$ 489,042	$ 395,740
Unbilled revenue	135,400	121,957
Total	624,442	517,697
Less: Allowance for doubtful accounts	(6,702)	(3,664)
Trade receivables, net	$ 617,740	$ 514,033

SUPPLEMENTAL BALANCE SHEET INFORMATION - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Provisions to allowance for doubtful accounts	$ 6.4	$ 3.0	$ 2.1
Depreciation	$ 123.0	$ 108.6	$ 96.9

SUPPLEMENTAL BALANCE SHEET INFORMATION - Composition of Inventories (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Supplemental Balance Sheet Information [Abstract]
Raw materials and supplies	$ 28,317	$ 24,613
Work in process	36,755	35,852
Finished products	120,623	100,195
Inventories	$ 185,695	$ 160,660

SUPPLEMENTAL BALANCE SHEET INFORMATION - Composition of Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Supplemental Balance Sheet Information [Abstract]
Prepaid income tax	$ 68,462	$ 54,358
Short-term investments	1,024	941
Restricted cash	3,074	431	$ 465
Other	0	300
Other current assets	$ 72,560	$ 56,030

SUPPLEMENTAL BALANCE SHEET INFORMATION - Composition of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,210,351	$ 2,021,698
Less: Accumulated depreciation	(1,085,993)	(977,570)
Property, plant and equipment, net	1,124,358	1,044,128
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	61,031	63,077
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,059,641	1,006,357
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	661,124	585,965
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	104,967	84,630
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	31,489	28,304
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	193,622	179,865
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6,152	5,561
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 92,325	$ 67,939

SUPPLEMENTAL BALANCE SHEET INFORMATION - Composition of Other Assets (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Supplemental Balance Sheet Information [Abstract]
Venture capital investments	$ 197,100	$ 108,983
Strategic equity investments	24,704	13,996
Cash surrender value of life insurance policies	43,827	38,207
Other long-term income tax assets	23,485	20,570
Restricted cash	1,621	1,601	$ 1,411
Long-term pension assets	31,915	1,741
Other	29,974	27,517
Other assets	$ 352,626	$ 212,615

SUPPLEMENTAL BALANCE SHEET INFORMATION - Composition of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Supplemental Balance Sheet Information [Abstract]
Current portion of operating lease right-of-use liabilities	$ 24,674	$ 20,357
Accrued income taxes	24,884	26,066
Customer contract deposits	42,244	33,080
Other	10,675	11,095
Other current liabilities	$ 102,477	$ 90,598

SUPPLEMENTAL BALANCE SHEET INFORMATION - Composition of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Supplemental Balance Sheet Information [Abstract]
U.S. Transition Tax	$ 48,781	$ 52,066
Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plan	74,233	80,833
Long-term deferred revenue	19,475	20,983
Other	62,726	29,051
Other long-term liabilities	$ 205,215	$ 182,933

VENTURE CAPITAL INVESTMENTS AND STRATEGIC EQUITY INVESTMENTS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Marketable Securities and Equity-Method Affiliates [Abstract]
Venture capital investments	$ 197,100	$ 108,983
Total commitment	139,900
Amount funded for venture capital investments	95,300
Dividends received	27,600	11,400	$ 18,200
Gains related to venture capital investments	(100,400)	(20,700)	$ (15,900)
Consolidated retained earnings	76,800	20,600
Strategic equity investments	$ 24,704	$ 13,996

FAIR VALUE - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Current assets measured at fair value:
Cash equivalents	$ 2,273	$ 55,278
Other assets:
Life insurance policies	35,770	30,454
Total assets measured at fair value	38,043	85,732
Other liabilities measured at fair value:
Contingent consideration	2,328	712
Foreign currency forward contract		876
Total liabilities measured at fair value	2,328	1,588
Level 1
Current assets measured at fair value:
Cash equivalents	0	0
Other assets:
Life insurance policies	0	0
Total assets measured at fair value	0	0
Other liabilities measured at fair value:
Contingent consideration	0	0
Foreign currency forward contract		0
Total liabilities measured at fair value	0	0
Level 2
Current assets measured at fair value:
Cash equivalents	2,273	55,278
Other assets:
Life insurance policies	35,770	30,454
Total assets measured at fair value	38,043	85,732
Other liabilities measured at fair value:
Contingent consideration	0	0
Foreign currency forward contract		876
Total liabilities measured at fair value	0	876
Level 3
Current assets measured at fair value:
Cash equivalents	0	0
Other assets:
Life insurance policies	0	0
Total assets measured at fair value	0	0
Other liabilities measured at fair value:
Contingent consideration	2,328	712
Foreign currency forward contract		0
Total liabilities measured at fair value	$ 2,328	$ 712

FAIR VALUE - Rollforward of Contingent Consideration (Details) - Contingent Consideration - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 712	$ 3,033
Additions	2,131	2,869
Payments	(230)	(5,252)
Total gains or losses (realized/unrealized):
Foreign currency translation	183	62
Reversal of previously recorded contingent liability and change in fair value	(468)	0
Ending balance	$ 2,328	$ 712

FAIR VALUE - Debt Instruments (Details) - Senior Notes - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
2026 Senior Notes \| Book Value
Debt Instrument [Line Items]
Value of debt instruments	$ 500,000	$ 500,000
2026 Senior Notes \| Fair Value
Debt Instrument [Line Items]
Value of debt instruments	523,100	537,500
2028 Senior Notes \| Book Value
Debt Instrument [Line Items]
Value of debt instruments	500,000	500,000
2028 Senior Notes \| Fair Value
Debt Instrument [Line Items]
Value of debt instruments	$ 523,750	$ 510,000

GOODWILL AND INTANGIBLE ASSETS - Rollforward of Company's Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Goodwill [Roll Forward]
Gross carrying amount, beginning balance	$ 2,545,565	$ 2,252,133
Adjustments to goodwill, acquisitions	229,025	293,380
Adjustments to goodwill, foreign exchange	39,578	52
Gross carrying amount, ending balance	2,814,168	2,545,565
Accumulated impairment loss - DSA	(1,005,000)	(1,005,000)	$ (1,005,000)
Goodwill	1,809,168	1,540,565	$ 1,247,133
RMS
Goodwill [Roll Forward]
Gross carrying amount, beginning balance	56,586	56,968
Adjustments to goodwill, acquisitions	229,654	0
Adjustments to goodwill, foreign exchange	1,519	(382)
Gross carrying amount, ending balance	287,759	56,586
DSA
Goodwill [Roll Forward]
Gross carrying amount, beginning balance	2,350,223	2,056,470
Adjustments to goodwill, acquisitions	(629)	293,380
Adjustments to goodwill, foreign exchange	33,536	373
Gross carrying amount, ending balance	2,383,130	2,350,223
Manufacturing
Goodwill [Roll Forward]
Gross carrying amount, beginning balance	138,756	138,695
Adjustments to goodwill, acquisitions	0	0
Adjustments to goodwill, foreign exchange	4,523	61
Gross carrying amount, ending balance	$ 143,279	$ 138,756

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 0	$ 0
Amortization of intangible assets	$ 111,877,000	$ 89,538,000	$ 64,830,000

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets, Net by Major Class (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Finite-lived intangible assets
Gross	$ 1,334,244	$ 1,112,348
Accumulated Amortization	(546,645)	(422,935)
Net	787,599	689,413
Backlog
Finite-lived intangible assets
Gross	29,233	28,865
Accumulated Amortization	(29,233)	(26,895)
Net	0	1,970
Technology
Finite-lived intangible assets
Gross	130,907	122,106
Accumulated Amortization	(81,305)	(57,737)
Net	49,602	64,369
Trademarks and trade names
Finite-lived intangible assets
Gross	15,870	8,430
Accumulated Amortization	(5,648)	(4,901)
Net	10,222	3,529
Other
Finite-lived intangible assets
Gross	20,903	18,279
Accumulated Amortization	(14,633)	(12,307)
Net	6,270	5,972
Other intangible assets
Finite-lived intangible assets
Gross	196,913	177,680
Accumulated Amortization	(130,819)	(101,840)
Net	66,094	75,840
Client relationships
Finite-lived intangible assets
Gross	1,137,331	934,668
Accumulated Amortization	(415,826)	(321,095)
Net	$ 721,505	$ 613,573

GOODWILL AND INTANGIBLE ASSETS - Estimated Amortization Expense for Intangible Assets for Next Five Fiscal Years (Details) $ in Thousands	Dec. 26, 2020 USD ($)
Estimated amortization expense for each of the next five fiscal years
2021	$ 104,272
2022	91,877
2023	83,651
2024	76,291
2025	$ 71,915

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Long-term Debt, Net (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,965,084
Finance leases (Note 16)	29,047	$ 30,527
Total debt and finance leases	1,994,131	1,906,192
Current portion of long-term debt and finance leases	47,196	35,548
Current portion of finance leases (Note 16)	3,018	2,997
Current portion of long-term debt and finance leases	50,214	38,545
Long-term debt and finance leases	1,943,917	1,867,647
Debt discount and debt issuance costs	(14,346)	(17,981)
Long-term debt, net and finance leases	1,929,571	1,849,666
Term loans
Debt Instrument [Line Items]
Long-term debt, gross	146,875	193,750
Revolving facility
Debt Instrument [Line Items]
Long-term debt, gross	814,752	676,134
2026 Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	500,000	500,000
2028 Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	500,000	500,000
Other debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,457	$ 5,781

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Additional Information (Details)					12 Months Ended
	Dec. 31, 2020 USD ($)	Oct. 23, 2019 USD ($)	Apr. 03, 2018 USD ($)	Mar. 26, 2018 USD ($) payment	Dec. 26, 2020 USD ($)	Dec. 28, 2019 USD ($)	Dec. 29, 2018 USD ($)	Nov. 04, 2019 USD ($)
Debt Instrument [Line Items]
Weighted average interest rate					3.11%	3.46%
Distributed Bio \| Subsequent Event
Debt Instrument [Line Items]
Purchase price	$ 83,000,000
Letter of Credit
Debt Instrument [Line Items]
Amount outstanding under letters of credit					$ 16,000,000.0	$ 7,500,000
Credit facility \| $1.65 Billion Credit Facility
Debt Instrument [Line Items]
Amount of credit facility				$ 1,650,000,000
Credit facility \| $2.3 Billion Credit Facility
Debt Instrument [Line Items]
Amount of credit facility				2,300,000,000
Expensed debt issuance costs						1,600,000	$ 1,000,000.0
Credit facility \| Term Loan Facility
Debt Instrument [Line Items]
Amount of credit facility				$ 750,000,000
Number of quarterly installment payments \| payment				19
Pre-payments of long-term debt		$ 500,000,000.0
Credit facility \| $1.55 Billion Credit Facility \| Multi-currency Revolving Facility
Debt Instrument [Line Items]
Amount of credit facility				$ 1,550,000,000
Credit facility \| $2.5 Billion Credit Facility
Debt Instrument [Line Items]
Minimum EBITDA less capital expenditures to consolidated cash interest expense				3.50
Credit facility \| $2.5 Billion Credit Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Interest rate				0.50%
Credit facility \| $2.5 Billion Credit Facility \| LIBOR
Debt Instrument [Line Items]
Interest rate				1.00%
Credit facility \| $2.5 Billion Credit Facility \| Multi-currency Revolving Facility
Debt Instrument [Line Items]
Amount of credit facility								$ 2,050,000,000.00
Maximum increase to the term loan and/or revolving line of credit								1,000,000,000.0
Senior Notes \| 2028 Senior Notes
Debt Instrument [Line Items]
Proceeds from private offering of debt		500,000,000.0
Aggregate principal amount		500,000,000						500,000,000.0
Capitalized debt issuance costs		$ 6,000,000						$ 500,000
Maximum consolidated indebtedness to consolidated EBITDA, with step downs								4.00
Stated interest rate					4.25%
Redemption price percentage, conditional upon equity offerings		40.00%
Redemption price percentage in the event of a change of control		101.00%
Net proceeds from debt		$ 494,000,000
Senior Notes \| 2028 Senior Notes \| Redemption Period One
Debt Instrument [Line Items]
Redemption price percentage		100.00%
Senior Notes \| 2028 Senior Notes \| Redemption Period Two
Debt Instrument [Line Items]
Redemption price percentage		104.25%
Senior Notes \| 2026 Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount			$ 500,000,000
Stated interest rate					5.50%
Redemption price percentage, conditional upon equity offerings			40.00%
Redemption price percentage in the event of a change of control			101.00%
Net proceeds from debt			$ 493,800,000
Senior Notes \| 2026 Senior Notes \| Redemption Period One
Debt Instrument [Line Items]
Redemption price percentage			100.00%
Senior Notes \| 2026 Senior Notes \| Redemption Period Two
Debt Instrument [Line Items]
Redemption price percentage			105.50%
Minimum \| Foreign Exchange Forward
Debt Instrument [Line Items]
Foreign exchange forward contract amount					$ 300,000,000	300,000,000
Maximum \| Foreign Exchange Forward
Debt Instrument [Line Items]
Foreign exchange forward contract amount					400,000,000	400,000,000
Other income, net \| Foreign Exchange Forward
Debt Instrument [Line Items]
Foreign currency translation loss recognized					(11,900,000)	9,600,000
Amount of gain (loss)					(892,000)	(121,000)
Interest expense \| Foreign Exchange Forward
Debt Instrument [Line Items]
Amount of gain (loss)					$ (9,325,000)	$ 18,672,000	$ 1,486,000

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Principal Maturities of Long Term Debt (Details) $ in Thousands	Dec. 26, 2020 USD ($)
Debt Disclosure [Abstract]
2021	$ 47,196
2022	93,963
2023	821,221
2024	487
2025	233
Thereafter	1,001,984
Total debt	$ 1,965,084

EQUITY AND NONCONTROLLING INTERESTS - Reconciliation of Numerator and Denominator in the Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Numerator:
Income from continuing operations, net of income taxes									$ 365,306	$ 254,061	$ 227,218
Income from discontinued operations, net of income taxes									0	0	1,506
Less: Net income attributable to noncontrolling interests									1,002	2,042	2,351
Net income attributable to common shareholders	$ 143,191	$ 102,909	$ 67,435	$ 50,769	$ 80,348	$ 72,810	$ 43,728	$ 55,133	$ 364,304	$ 252,019	$ 226,373
Denominator:
Weighted-average shares outstanding—Basic (in shares)									49,550	48,730	47,947
Effect of dilutive securities:
Stock options, restricted stock, restricted stock units and performance share units (in shares)									1,061	963	1,071
Weighted-average shares outstanding—Diluted (in shares)									50,611	49,693	49,018

EQUITY AND NONCONTROLLING INTERESTS - Earnings Per Share, Additional Information (Details) - shares shares in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average shares outstanding—Diluted (in shares)	50,611	49,693	49,018
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	200	400	500
Restricted Stock, Restricted Stock Units, and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average shares outstanding—Diluted (in shares)	900	1,000	1,000

EQUITY AND NONCONTROLLING INTERESTS - Treasury Shares, Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Treasury Shares and Accelerated Stock Repurchase Program (ASR) [Line Items]
Shares acquired for individual minimum statutory tax withholding (in shares)	100,000	100,000	100,000
Value of shares acquired for individual minimum statutory tax withholding	$ 24,000,000.0	$ 18,100,000	$ 13,800,000
Treasury shares retired (in shares)	100,000	100,000
Retirement of treasury shares	$ 0	$ 0	$ 0
2010 Share Repurchase Program
Treasury Shares and Accelerated Stock Repurchase Program (ASR) [Line Items]
Aggregate authorization of share repurchase program				$ 1,300,000,000
Number of shares repurchased (in shares)	0	0	0
Amount remaining on the authorized share repurchase program	$ 129,100,000
Retained Earnings
Treasury Shares and Accelerated Stock Repurchase Program (ASR) [Line Items]
Retirement of treasury shares	(19,219,000)	$ (13,786,000)	$ (477,689,000)
Retirement of treasury shares	19,200,000	13,800,000
Additional Paid-In Capital
Treasury Shares and Accelerated Stock Repurchase Program (ASR) [Line Items]
Retirement of treasury shares	(4,759,000)	(4,355,000)	$ (1,195,614,000)
Retirement of treasury shares	$ 4,800,000	$ 4,300,000
Treasury Stock
Treasury Shares and Accelerated Stock Repurchase Program (ASR) [Line Items]
Number of shares repurchased (in shares)	146,000	139,000	129,000
Treasury shares retired (in shares)	146,000	140,000	40,221,000
Retirement of treasury shares	$ 23,979,000	$ 18,142,000	$ 1,673,705,000

EQUITY AND NONCONTROLLING INTERESTS - Changes to Accumulated Other Comprehensive Income (Loss), Net of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Increase (Decrease) in Stockholders' Equity
Beginning balance	$ 1,637,828	$ 1,319,778	$ 1,047,407
Other comprehensive income (loss) before reclassifications	36,656	(10,721)
Amounts reclassified from accumulated other comprehensive income	17,861	1,772
Net current period other comprehensive income (loss)	54,517	(8,949)
Income tax (benefit)	15,372	(3,633)	(1,892)
Ending balance	2,118,169	1,637,828	1,319,778
Foreign Currency Translation Adjustment and Other
Increase (Decrease) in Stockholders' Equity
Beginning balance	(87,578)	(102,199)
Other comprehensive income (loss) before reclassifications	20,909	14,444
Amounts reclassified from accumulated other comprehensive income	0	0
Net current period other comprehensive income (loss)	20,909	14,444
Income tax (benefit)	7,215	(177)
Ending balance	(73,884)	(87,578)	(102,199)
Pension and Other Post-Retirement Benefit Plans
Increase (Decrease) in Stockholders' Equity
Beginning balance	(90,441)	(70,504)
Other comprehensive income (loss) before reclassifications	15,747	(25,165)
Amounts reclassified from accumulated other comprehensive income	17,861	1,772
Net current period other comprehensive income (loss)	33,608	(23,393)
Income tax (benefit)	8,157	(3,456)
Ending balance	(64,990)	(90,441)	(70,504)
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity
Beginning balance	(178,019)	(172,703)	(144,731)
Ending balance	$ (138,874)	$ (178,019)	$ (172,703)

- Definition

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120385591&loc=d3e39076-109324

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120385591&loc=d3e38679-109324

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

EQUITY AND NONCONTROLLING INTERESTS - Nonredeemable and Redeemable Noncontrolling Interest, Additional Information (Details) - USD ($) $ in Thousands	Jun. 13, 2019	Dec. 26, 2020	Feb. 29, 2020	Dec. 28, 2019	Aug. 28, 2019	Apr. 29, 2019	Dec. 29, 2018
Schedule of Investments [Line Items]
Redeemable noncontrolling interests		$ 25,499		$ 28,647			$ 18,525
Citoxlab
Schedule of Investments [Line Items]
Redeemable noncontrolling interest, contractually defined redemption value			$ 4,000
Contingent consideration			$ 2,000
Vital River
Schedule of Investments [Line Items]
Purchase price of additional equity interest	$ 7,900
Gain in equity equal to the excess fair value of additional equity interest purchased	800
Charge in other income, net equal to the excess fair value of the hybrid equity instrument	$ 2,200
Redeemable noncontrolling interests		$ 16,300
Vital River
Schedule of Investments [Line Items]
Ownership percentage	92.00%
Additional equity interest percentage purchased	5.00%
Remaining ownership interest	8.00%
Citoxlab
Schedule of Investments [Line Items]
Ownership percentage				90.00%
Remaining ownership interest				10.00%		10.00%
Supplier
Schedule of Investments [Line Items]
Ownership percentage					80.00%
Remaining ownership interest					20.00%	20.00%

EQUITY AND NONCONTROLLING INTERESTS - Rollforward of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Aug. 28, 2019	Jun. 13, 2019	Apr. 29, 2019
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 28,647	$ 18,525
Adjustment to Vital River redemption value	0	1,451
Purchase of Vital River 5% equity interest	(2,379)	(1,870)
Acquisition of non-controlling interest	(3,732)	0
Net loss attributable to noncontrolling interests	(852)	(42)
Foreign currency translation	1,436	(221)
Ending balance	25,499	28,647
Supplier
Increase (Decrease) in Temporary Equity [Roll Forward]
Acquisition of non-controlling interest	0	8,740
Non-controlling interest percentage acquired			20.00%		20.00%
Vital River
Increase (Decrease) in Temporary Equity [Roll Forward]
Purchase of Vital River 5% equity interest	0	(8,745)
Change in fair value of Vital River 8% equity interest, included in additional paid-in capital	0	2,708
Modification of Vital River 8% purchase option	0	2,196
Additional equity interest percentage purchased				5.00%
Non-controlling interest percentage acquired				8.00%
Citoxlab
Increase (Decrease) in Temporary Equity [Roll Forward]
Acquisition of non-controlling interest	$ 0	$ 4,035
Non-controlling interest percentage acquired		10.00%			10.00%

INCOME TAXES - Components of Income from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Income from continuing operations before income taxes:
U.S.	$ 226,935	$ 108,326	$ 95,062
Non-U.S.	220,179	195,758	186,619
Income from continuing operations, before income taxes	447,114	304,084	281,681
Current:
Federal	38,192	18,101	17,390
Foreign	35,410	43,489	38,557
State	6,623	9,915	8,837
Total current	80,225	71,505	64,784
Deferred:
Federal	386	(3,226)	(7,145)
Foreign	5,583	(17,111)	(4,104)
State	(4,386)	(1,145)	928
Total deferred	1,583	(21,482)	(10,321)
Total provision for income taxes	$ 81,808	$ 50,023	$ 54,463

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Income Tax Contingency [Line Items]
Tax expense	$ 81,808,000	$ 50,023,000	$ 54,463,000
Tax benefit recognized for operating loss carryforwards previously not likely to be utilized		20,600,000
Operating loss carryforwards		315,500,000
Amount of operating loss carryforward, valuation allowance unlikely to be utilized		294,900,000
Increase in valuation allowance	24,900,000	300,200,000
Valuation allowance	334,845,000	309,962,000	$ 9,800,000
Increase in unrecognized income tax benefits	5,300,000
Unrecognized tax benefits that would impact effective tax rate	22,600,000	17,000,000.0
Increase in unrecognized income tax benefits that would impact tax rate	5,600,000
Decrease in unrecognized tax benefits that is reasonably possible	2,000,000
Accrued interest related to unrecognized income tax benefits	2,400,000	2,300,000
Accrued penalties related to unrecognized income tax benefits	0	0
Foreign Tax Authority
Income Tax Contingency [Line Items]
Operating loss carryforwards	369,000,000.0	$ 337,300,000
Foreign Tax Authority \| Tax Credit Carryforwards, Expiring in 2028 and Beyond
Income Tax Contingency [Line Items]
Tax credit carryforward	37,100,000
Foreign Tax Authority \| Net Operating Loss Carryforward, Expiring after 2021
Income Tax Contingency [Line Items]
Operating loss carryforwards	27,700,000
Foreign Tax Authority \| Net Operating Loss Carryforward, Carried Forward Indefinitely
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 341,300,000

INCOME TAXES - Reconciliation of US Statutory Tax Rate and Effective Tax Rate (Details)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Income Tax Disclosure [Abstract]
U.S. statutory income tax rate	21.00%	21.00%	21.00%
Foreign tax rate differences	1.20%	2.70%	0.50%
State income taxes, net of federal tax benefit	0.40%	2.60%	2.40%
Non-deductible compensation	1.00%	1.70%	1.00%
Research tax credits and enhanced deductions	(3.40%)	(4.40%)	(2.90%)
Stock-based compensation	(2.70%)	(2.20%)	(2.10%)
Impact of tax uncertainties	(0.20%)	(2.60%)	(1.10%)
Tax on unremitted earnings	1.30%	1.70%	1.20%
Impact of acquisitions and restructuring	0.50%	2.70%	0.30%
Net operating loss deferred tax asset recognition, net of valuation allowance (NOL DTA)	(0.10%)	(6.80%)	0.00%
Other	(0.70%)	0.10%	(1.00%)
Effective income tax rate	18.30%	16.50%	19.30%

INCOME TAXES - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Deferred tax assets:
Compensation	$ 32,118	$ 40,582
Accruals and reserves	17,970	13,687
Net operating loss and credit carryforwards	406,085	367,269
Operating lease liability	43,646	33,785
Other	4,253	7,181
Valuation allowance	(334,845)	(309,962)	$ (9,800)
Total deferred tax assets	169,227	152,542
Deferred tax liabilities:
Goodwill and other intangibles	(202,430)	(174,847)
Depreciation related	(33,277)	(29,317)
Venture capital investments	(32,848)	(12,806)
Tax on unremitted earnings	(27,707)	(17,282)
Right-of-use assets	(43,557)	(34,953)
Other	(8,710)	(5,961)
Total deferred tax liabilities	(348,529)	(275,166)
Net deferred taxes	$ (179,302)	$ (122,624)

INCOME TAXES - Change in Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Reconciliation of Unrecognized Tax Benefits
Beginning balance	$ 19,665	$ 18,827	$ 24,710
Additions to tax positions for current year	7,044	3,691	2,477
Additions to tax positions for prior years	4,589	5,234	0
Reductions to tax positions for prior years	(127)	(1,033)	(4,543)
Settlements	(5,859)	(274)	(3,380)
Expiration of statute of limitations	(342)	(6,780)	(437)
Ending balance	$ 24,970	$ 19,665	$ 18,827

EMPLOYEE BENEFIT PLANS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 26, 2020	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Benefit obligations	$ 367,468	$ 367,468	$ 447,409	$ 362,805
Plan assets	324,752	324,752	357,181	305,709
Employer contributions to participants within plan assets		34,092	2,105
Net periodic benefit cost (income)		$ 7,277	4,022	1,332
Deferral period		3 years
Maximum annual contributions per employee, percent		10.00%
Period of highest consecutive years of compensation		5 years
Costs associated with deferred compensation plan and executive supplemental life insurance retirement plans		$ 5,700	2,500	2,900
Cash surrender value of life insurance policies	43,827	43,827	38,207
Change in projected benefit obligation based on sensitivity	17,000	$ 17,000
Sensitivity of expected rate of return on plan assets, percent change		0.50%
Sensitivity of change in expected rate of return, annual pension expense amount		$ 1,600
Decrease in benefit obligations from new morality improvement scales		7,800	2,800
Expected employer contributions in next fiscal year	900	900
Accumulated benefit obligation	1,300	1,300	1,100
Costs associated with employee savings plan		14,600	19,100	13,400
U.K. Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to participants within plan assets		23,000
U.K. Plan \| Defined Benefit Plan, Funding Status
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to participants within plan assets		28,900
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Benefit obligations	93,800	93,800
Plan assets	93,000	93,000
Employer contributions to participants within plan assets	800	24,600
Non-cash settlement charge related to pension losses, reclassified from AOCI to other expense		10,300
Net periodic benefit cost (income)		1,600	1,500	$ (1,500)
Employer contributions to participants outside of plan assets		9,500
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 63,465	$ 63,465	91,998
Target asset allocation percentage	22.10%	22.10%
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 99,188	$ 99,188	129,965
Target asset allocation percentage	15.30%	15.30%
Other Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 68,263	$ 68,263	$ 56,852
Target asset allocation percentage	62.60%	62.60%
Executive Officer
Defined Benefit Plan Disclosure [Line Items]
Costs associated with deferred compensation plan and executive supplemental life insurance retirement plans		$ 8,100
Settlement charges related to pension losses		$ 2,100

EMPLOYEE BENEFIT PLANS - Reconciliation of Benefit Obligations and Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Change in projected benefit obligations:
Benefit obligation at beginning of year	$ 447,409	$ 362,805
Service cost	3,609	2,833	$ 2,612
Interest cost	8,849	11,583	10,850
Other	429	850
Benefit payments	(8,913)	(11,062)
Settlements	(101,979)	(74)
Special/Contractual Termination Benefits	0	166
Transfer in from acquisition	0	6,818
Actuarial loss	9,816	66,432
Administrative expenses paid	(808)	(470)
Effect of foreign exchange	9,056	7,528
Benefit obligation at end of year	367,468	447,409	362,805
Change in fair value of plan assets:
Fair value of plan assets at beginning of year	357,181	305,709
Actual return on plan assets	36,551	53,741
Employer contributions	34,092	2,105
Settlements	(101,979)	(74)
Transfer in from acquisition	0	119
Benefit payments	(8,913)	(11,062)
Administrative expenses paid	(808)	(470)
Effect of foreign exchange	8,628	7,113
Fair value of plan assets at end of year	324,752	357,181	$ 305,709
Net balance sheet liability	42,716	90,228
Amounts recognized in balance sheet:
Noncurrent assets	31,916	1,742
Current liabilities	1,713	12,788
Noncurrent liabilities	$ 72,919	$ 79,182

EMPLOYEE BENEFIT PLANS - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Amounts recognized in accumulated other comprehensive income (loss)
Net actuarial loss	$ 82,914	$ 116,930
Net prior service cost (credit)	(1,593)	(2,096)
Net amount recognized	$ 81,321	$ 114,834

EMPLOYEE BENEFIT PLANS - Accumulated Benefit Obligation and Fair Value of Plan Assets for Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Accumulated benefit obligation	$ 72,940	$ 410,243
Fair value of plan assets	$ 11,543	$ 337,344

EMPLOYEE BENEFIT PLANS - Projected Benefit Obligation and Fair Value of Plan Assets for Pension Plans with Projected Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Retirement Benefits [Abstract]
Projected benefit obligation	$ 93,192	$ 435,638
Fair value of plan assets	$ 18,560	$ 343,688

EMPLOYEE BENEFIT PLANS - Components of Net Period Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Retirement Benefits [Abstract]
Service cost	$ 3,609	$ 2,833	$ 2,612
Interest cost	8,849	11,583	10,850
Expected return on plan assets	(11,348)	(13,005)	(15,516)
Amortization of prior service credit	(489)	(489)	(514)
Amortization of net loss	6,239	2,250	2,990
Other	417	850	910
Net periodic benefit cost	7,277	4,022	1,332
Settlement	12,385	0	0
Total benefit cost	$ 19,662	$ 4,022	$ 1,332

EMPLOYEE BENEFIT PLANS - Weighted-average Assumptions (Details)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Weighted-average assumptions used to determine projected benefit obligations
Discount rate	1.48%	2.14%
Rate of compensation increase	2.98%	2.99%
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate	2.14%	3.21%	2.82%
Expected long-term return on plan assets	3.35%	4.28%	5.18%
Rate of compensation increase	2.99%	3.23%	3.16%

EMPLOYEE BENEFIT PLANS - Fair Value of Company's Pension Plan Assets by Asset Category (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 324,752	$ 357,181	$ 305,709
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21,629	3,410
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	63,465	91,998
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	99,188	129,965
Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	72,207	74,956
Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	68,263	56,852
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	36,322	57,165
Level 1 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20,163	2,388
Level 1 \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,633	7,621
Level 1 \| Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	40,281
Level 1 \| Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	7,018	6,324
Level 1 \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	508	551
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	287,114	298,502
Level 2 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,466	1,022
Level 2 \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	54,832	84,377
Level 2 \| Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	99,188	89,684
Level 2 \| Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	65,189	68,632
Level 2 \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	66,439	54,787
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,316	1,514
Level 3 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 3 \| Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 3 \| Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 3 \| Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 3 \| Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,316	$ 1,514

EMPLOYEE BENEFIT PLANS - Estimated Future Benefit Payments (Details) - Pension Plans $ in Thousands	Dec. 26, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2021	$ 6,457
2022	6,890
2023	41,395
2024	7,595
2025	7,847
2026-2030	$ 42,617

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018	May 31, 2018	May 31, 2016	May 31, 2007
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares to be awarded (in shares)	6,700,000
Capitalized stock-based compensation related costs	$ 0	$ 0	$ 0
Weighted-average grant date fair value of stock options granted (in dollars per share)	$ 53.37	$ 33.97	$ 24.80
Stock-based compensation	$ 56,341,000	$ 57,271,000	$ 47,346,000
2007 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equivalent shares (in shares)						1.0
2016 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equivalent shares (in shares)					1.0
2018 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equivalent shares (in shares)				1.0
Maximum \| 2007 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares to be awarded (in shares)						18,700,000
Maximum \| 2016 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares to be awarded (in shares)					6,100,000
Maximum \| 2018 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares to be awarded (in shares)				8,900,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	4 years	4 years
Unrecognized compensation cost related to unvested stock options expected to vest	$ 19,200,000
Weighted average vesting period of unvested stock options expected to vest	2 years 3 months 18 days
Intrinsic value of options exercised	$ 48,600,000	$ 27,000,000.0	$ 29,000,000.0
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, expiration period	5 years	5 years	5 years
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, expiration period	10 years	10 years	10 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vesting period of unvested stock options expected to vest	2 years 6 months
Unrecognized compensation cost related to unvested restricted stock units expected to vest	$ 39,900,000
Fair value of awards vested	$ 20,000,000.0	$ 16,500,000	$ 15,500,000
Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years	2 years	2 years
Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	4 years	4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Fair value of awards vested	$ 20,900,000	$ 20,200,000	$ 18,300,000
Maximum number of common shares to be issued upon vesting of PSUs (in shares)	200,000
Stock-based compensation	$ 22,700,000	$ 25,300,000	$ 20,400,000
PSUs \| Performance Shares Grantee Group Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSUs granted (in shares)	9,000	15,000	17,000
Weighted average per share fair value (in dollars per share)	$ 179.66	$ 144.67	$ 109.34
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years	3 years	3 years
Number of shares employee is entitled to receive at no cost (in shares)	0	0	0
Restricted Stock, Restricted Stock Units, and PSUs \| 2007 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equivalent shares (in shares)						2.3
Restricted Stock, Restricted Stock Units, and PSUs \| 2016 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equivalent shares (in shares)					2.3
Restricted Stock, Restricted Stock Units, and PSUs \| 2018 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equivalent shares (in shares)				2.3

STOCK-BASED COMPENSATION - Financial Statement Line Items in Which Stock-Based Compensation is Located (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation, before income taxes	$ 56,341	$ 57,271	$ 47,346
Provision for income taxes	(8,130)	(9,465)	(9,188)
Stock-based compensation, net of income taxes	48,211	47,806	38,158
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation, before income taxes	10,636	9,038	6,285
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation, before income taxes	$ 45,705	$ 48,233	$ 41,061

STOCK-BASED COMPENSATION - Stock Option Activities (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 26, 2020 USD ($) $ / shares shares
Number of shares
Options outstanding, balance at the beginning of the period (in shares) \| shares	1,507
Options granted (in shares) \| shares	292
Options exercised (in shares) \| shares	(533)
Options canceled (in shares) \| shares	(50)
Options outstanding, balance at the end of the period (in shares) \| shares	1,216
Weighted Average Exercise Price
Options outstanding, balance at the beginning of the period (in dollars per share) \| $ / shares	$ 105.19
Options granted (in dollars per share) \| $ / shares	178.79
Options exercised (in dollars per share) \| $ / shares	87.45
Options canceled (in dollars per share) \| $ / shares	134.02
Options outstanding, balance at the end of the period (in dollars per share) \| $ / shares	$ 129.34
Other Disclosures
Options outstanding weighted average remaining contractual life	3 years 9 months 18 days
Options outstanding, aggregate intrinsic value \| $	$ 148,795
Options exercisable (in shares) \| shares	308
Options exercisable (in dollars per share) \| $ / shares	$ 98.34
Options exercisable, weighted average remaining contractual life	1 year 6 months
Options exercisable, aggregate intrinsic value \| $	$ 47,163
Options expected to vest (in shares) \| shares	908
Options expected to vest (in dollars per share) \| $ / shares	$ 139.84
Options expected to vest, weighted average remaining contractual life	4 years 7 months 6 days
Options expected to vest, aggregate intrinsic value \| $	$ 101,632

STOCK-BASED COMPENSATION - Stock Options, Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Share-based Payment Arrangement [Abstract]
Expected life (in years)	6 years	3 years 7 months 6 days	3 years 8 months 12 days
Expected volatility	30.00%	27.00%	25.00%
Risk-free interest rate	0.40%	2.40%	2.40%
Expected dividend yield	0.00%	0.00%	0.00%

STOCK-BASED COMPENSATION - Restricted Stock and Restricted Stock Units Activity (Details) - Restricted Stock Units shares in Thousands	12 Months Ended
	Dec. 26, 2020 $ / shares shares
Restricted Stock Units
Balance at the beginning of the period (in shares) \| shares	496
Granted (in shares) \| shares	178
Vested (in shares) \| shares	(187)
Canceled (in shares) \| shares	(21)
Balance at the end of the period (in shares) \| shares	466
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) \| $ / shares	$ 116.07
Granted (in dollars per share) \| $ / shares	182.10
Vested (in dollars per share) \| $ / shares	106.94
Canceled (in dollars per share) \| $ / shares	136.15
Balance at the end of the period (in dollars per share) \| $ / shares	$ 144.03

STOCK-BASED COMPENSATION - Performance Based Stock Award Program (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Key assumptions:
Expected volatility	30.00%	27.00%	25.00%
Risk-free interest rate	0.40%	2.40%	2.40%
Expected dividend yield	0.00%	0.00%	0.00%
Trading day average stock price on grant date	20 days
PSUs
Key assumptions:
Expected volatility	35.00%	25.00%	26.00%
Risk-free interest rate	0.20%	2.40%	2.40%
Expected dividend yield	0.00%	0.00%	0.00%
Total shareholder return of 20-trading day average stock price on grant date	21.70%	17.70%	2.90%
PSUs \| PSU Grantee Group One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSUs granted (in shares)	98	160	200
Weighted average per share fair value (in dollars per share)	$ 209.67	$ 164.47	$ 117.89

FOREIGN CURRENCY CONTRACTS - Schedule of Derivative Instruments on Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Derivatives, Fair Value [Line Items]
Interest expense	$ 86,433	$ 60,882	$ 63,772
Other income, net	99,984	12,293	13,258
Interest expense \| Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Amount of gain (loss)	(9,325)	18,672	$ 1,486
Other income, net \| Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Amount of gain (loss)	$ (892)	$ (121)

FOREIGN CURRENCY CONTRACTS - Narrative (Details) - Foreign Exchange Forward - derivative_instrument	12 Months Ended
	Dec. 28, 2019	Dec. 26, 2020
Derivative [Line Items]
Number of derivative instruments held	1	0
Derivative contract, period outstanding	1 month

FOREIGN CURRENCY CONTRACTS - Schedule of Notional and Fair Value of Foreign Currency Contracts (Details) - Foreign Exchange Forward - Other Current Liabilities - Not Designated as Hedging Instrument $ in Thousands	Dec. 28, 2019 USD ($)
Derivatives, Fair Value [Line Items]
Notional amount	$ 115,038
Fair value	$ (876)

RESTRUCTURING AND ASSET IMPAIRMENTS - Severance and Retention Costs By Classification on the Consolidated Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 12,594	$ 13,839	$ 9,551
Cost of services provided and products sold (excluding amortization of intangible assets)
Restructuring Cost and Reserve [Line Items]
Restructuring costs	5,373	6,715	2,619
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs	7,221	7,124	6,932
Severance and Transition Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	7,590	11,454	8,681
Severance and Transition Costs \| Cost of services provided and products sold (excluding amortization of intangible assets)
Restructuring Cost and Reserve [Line Items]
Restructuring costs	4,453	4,348	1,770
Severance and Transition Costs \| Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs	3,137	7,106	6,911
Asset Impairments and Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	5,004	2,385	870
Asset Impairments and Other Costs \| Cost of services provided and products sold (excluding amortization of intangible assets)
Restructuring Cost and Reserve [Line Items]
Restructuring costs	920	2,367	849
Asset Impairments and Other Costs \| Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 4,084	$ 18	$ 21

RESTRUCTURING AND ASSET IMPAIRMENTS - Severance and Retention Costs by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Segment Reporting Information [Line Items]
Restructuring costs	$ 12,594	$ 13,839	$ 9,551
Total reportable segments \| RMS
Segment Reporting Information [Line Items]
Restructuring costs	845	3,110	1,983
Total reportable segments \| DSA
Segment Reporting Information [Line Items]
Restructuring costs	8,605	7,307	1,063
Total reportable segments \| Manufacturing
Segment Reporting Information [Line Items]
Restructuring costs	2,733	3,032	1,227
Unallocated corporate
Segment Reporting Information [Line Items]
Restructuring costs	$ 411	$ 390	$ 5,278

RESTRUCTURING AND ASSET IMPAIRMENTS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Restructuring Cost and Reserve [Line Items]
Severance and retention costs liability	$ 5,818	$ 6,406	$ 2,921	$ 6,856
Severance and Transition Costs \| Accrued Compensation
Restructuring Cost and Reserve [Line Items]
Severance and retention costs liability	$ 5,800	6,300
Severance and Transition Costs \| Other Long-Term Liabilities
Restructuring Cost and Reserve [Line Items]
Severance and retention costs liability		$ 100

RESTRUCTURING AND ASSET IMPAIRMENTS - Rollforward of Severance and Transition and Lease Obligation Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Restructuring Reserve [Roll Forward]
Beginning balance	$ 6,406	$ 2,921	$ 6,856
Expense	9,284	12,674	8,681
Payments / utilization	(9,918)	(9,206)	(12,341)
Foreign currency adjustments	46	17	(275)
Ending balance	$ 5,818	$ 6,406	$ 2,921

LEASES - Additional Information (Details) $ in Millions	Dec. 26, 2020 USD ($)
Lessor, Lease, Description [Line Items]
Future minimum lease payments for leases that have not yet commenced	$ 130
Minimum
Lessor, Lease, Description [Line Items]
Terms for leases that have not yet commenced	8 years
Maximum
Lessor, Lease, Description [Line Items]
Terms for leases that have not yet commenced	15 years

LEASES - Right-of-Use Lease Assets and Lease Liabilities in Condensed Consolidated Financial Statements (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 178,220	$ 140,085
Other current liabilities	24,674	20,357
Operating lease right-of-use liabilities	155,595	116,252
Total operating lease liabilities	180,269	136,609
Property, plant and equipment, net	31,614	32,519
Current portion of long-term debt and finance leases	3,018	2,997
Long-term debt, net and finance leases	26,029	27,530
Total finance lease liabilities	$ 29,047	$ 30,527
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligations	us-gaap:LongTermDebtAndCapitalLeaseObligations

LEASES - Components of Operating and Finance Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Leases [Abstract]
Operating lease costs	$ 32,965	$ 30,885
Amortization of right-of-use assets	3,723	4,007
Interest on lease liabilities	1,306	1,349
Short-term lease costs	2,349	1,056
Variable lease costs	5,122	3,161
Sublease income	(1,673)	(994)
Total lease costs	$ 43,792	$ 39,464

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 29,961	$ 27,153
Operating cash flows from finance leases	1,306	1,406
Finance cash flows from finance leases	4,350	3,766
Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities	63,499	24,382
Right-of-use lease assets obtained in exchange for new finance lease liabilities	$ 1,571	$ 4,819	$ 1,473

LEASES - Weighted Average Remaining Lease Term and Discount Rates (Details)	Dec. 26, 2020	Dec. 28, 2019
Weighted-average remaining lease term (in years)
Operating lease	8 years 6 months	8 years 2 months 12 days
Finance lease	12 years 4 months 24 days	13 years
Weighted-average discount rate
Operating lease	4.50%	4.40%
Finance lease	4.10%	4.60%

LEASES - Schedule of Future Minimum Lease Payments Under Non-Cancellable Leases After Adoption (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Operating Leases
2021	$ 31,326
2022	27,803
2023	25,014
2024	24,244
2025	21,792
Thereafter	85,249
Total minimum future lease payments	215,428
Less: Imputed interest	35,159
Total lease liabilities	180,269	$ 136,609
Finance Leases
2021	4,242
2022	3,673
2023	3,348
2024	3,118
2025	2,841
Thereafter	20,906
Total minimum future lease payments	38,128
Less: Imputed interest	9,081
Total lease liabilities	$ 29,047	$ 30,527

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 26, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Deductible amount under insurance policies	$ 1,500
Certain property insurance, deductibles	5,000
Representation and warranty insurance, maximum deductible	8,000
Unconditional purchase obligations	$ 197,368

COMMITMENTS AND CONTINGENCIES - Schedule of Unconditional Purchase Obligations (Details) $ in Thousands	Dec. 26, 2020 USD ($)
Unconditional purchase obligations
Less than 1 Year	$ 166,078
1 - 3 Years	30,617
3 - 5 Years	673
Total	$ 197,368

SELECTED QUARTERLY FINANCIAL DATA (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 790,990	$ 743,300	$ 682,584	$ 707,059	$ 691,138	$ 667,951	$ 657,568	$ 604,569	$ 2,923,933	$ 2,621,226	$ 2,266,096
Gross profit	299,968	289,274	232,238	252,061	262,314	246,116	238,104	211,777
Operating income	128,927	132,753	76,768	94,281	108,789	92,802	79,768	69,792	432,729	351,151	331,383
Net income attributable to common shareholders	$ 143,191	$ 102,909	$ 67,435	$ 50,769	$ 80,348	$ 72,810	$ 43,728	$ 55,133	$ 364,304	$ 252,019	$ 226,373
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in dollars per share)	$ 2.88	$ 2.07	$ 1.36	$ 1.03	$ 1.64	$ 1.49	$ 0.90	$ 1.14	$ 7.35	$ 5.17	$ 4.72
Diluted (in dollars per share)	$ 2.81	$ 2.03	$ 1.34	$ 1.02	$ 1.61	$ 1.46	$ 0.88	$ 1.11	$ 7.20	$ 5.07	$ 4.62

- 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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+ Details

- Definition

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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SUBSEQUENT EVENT (Details) $ in Millions	Feb. 17, 2021 USD ($)
Cognate BioServices, Inc. \| Subsequent Event
Subsequent Event [Line Items]
Purchase price	$ 875

Label	Element	Value
Accounting Standards Update 2016-01 [Member]
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-01 [Member]
Accounting Standards Update 2018-02 [Member]
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2018-02 [Member]

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Indicates amendment to accounting standards.

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+ Details

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Estimated Revenue Related to Performance Obligations (Details) $ in Thousands	Dec. 26, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 363,236
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 224,590
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 134,217
Performance obligations expected to be satisfied, expected timing	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 4,429
Performance obligations expected to be satisfied, expected timing	1 year
DSA
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 348,533
DSA \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	216,099
DSA \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	128,005
DSA \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	4,429
Manufacturing
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	14,703
Manufacturing \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	8,491
Manufacturing \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	6,212
Manufacturing \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 0