0001100682-22-000028 | 10-Q | XBRL Viewer | Charles River Laboratories International INC

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 25, 2022	Jul. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 25, 2022
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		50,863,307
Entity Central Index Key	0001100682
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Total revenue	$ 973,131	$ 914,607	$ 1,887,060	$ 1,739,173
Costs and expenses:
Selling, general and administrative	131,711	171,501	281,744	327,234
Amortization of intangible assets	37,604	32,970	75,611	61,812
Operating income	187,411	137,550	336,189	261,253
Other income (expense):
Interest income	188	171	315	206
Interest expense	(3,703)	(16,190)	(13,137)	(45,909)
Other (expense) income, net	(39,783)	5,965	(68,408)	(21,752)
Income before income taxes	144,113	127,496	254,959	193,798
Provision for income taxes	33,449	37,580	49,069	39,947
Net income	110,664	89,916	205,890	153,851
Less: Net income attributable to noncontrolling interests	1,343	1,468	3,547	3,873
Net income attributable to common shareholders	$ 109,321	$ 88,448	$ 202,343	$ 149,978
Earnings per common share
Basic (in dollars per share)	$ 2.15	$ 1.76	$ 3.99	$ 2.99
Diluted (in dollars per share)	$ 2.13	$ 1.72	$ 3.94	$ 2.93
Weighted-average number of common shares outstanding:
Basic (in shares)	50,823	50,297	50,732	50,138
Diluted (in shares)	51,283	51,334	51,293	51,225
Service
Total revenue	$ 782,827	$ 715,320	$ 1,503,312	$ 1,341,901
Costs and expenses:
Cost of services provided and products sold (excluding amortization of intangible assets)	522,623	476,762	1,009,487	900,737
Product
Total revenue	190,304	199,287	383,748	397,272
Costs and expenses:
Cost of services provided and products sold (excluding amortization of intangible assets)	$ 93,782	$ 95,824	$ 184,029	$ 188,137

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 110,664	$ 89,916	$ 205,890	$ 153,851
Other comprehensive income (loss):
Foreign currency translation adjustment	(93,857)	20,827	(106,809)	30,656
Amortization of net loss and prior service benefit included in net periodic cost for pension and other post-retirement benefit plans	741	993	1,487	1,981
Comprehensive income, before income taxes related to items of other comprehensive income	17,548	111,736	100,568	186,488
Less: Income tax (benefit) expense related to items of other comprehensive income	(6,876)	2,449	(8,894)	1,424
Comprehensive income, net of income taxes	24,424	109,287	109,462	185,064
Less: Comprehensive (loss) income related to noncontrolling interests, net of income taxes	(1,275)	1,843	934	4,233
Comprehensive income attributable to common shareholders, net of income taxes	$ 25,699	$ 107,444	$ 108,528	$ 180,831

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 200,321	$ 241,214
Trade receivables and contract assets, net of allowances for credit losses of $7,928 and $7,180, respectively	747,605	642,881
Inventories	256,765	199,146
Prepaid assets	80,939	93,543
Other current assets	107,456	97,311
Total current assets	1,393,086	1,274,095
Property, plant and equipment, net	1,383,422	1,291,068
Operating lease right-of-use assets, net	382,121	292,941
Goodwill	2,860,258	2,711,881
Client relationships and other intangible assets, net	1,032,372	1,061,192
Deferred tax assets	42,467	40,226
Other assets	435,635	352,889
Total assets	7,529,361	7,024,292
Current liabilities:
Current portion of long-term debt and finance leases	2,364	2,795
Accounts payable	211,381	198,130
Accrued compensation	202,962	246,119
Deferred revenue	242,084	219,703
Accrued liabilities	199,234	228,797
Other current liabilities	190,110	137,641
Total current liabilities	1,048,135	1,033,185
Long-term debt, net and finance leases	2,997,221	2,663,564
Operating lease right-of-use liabilities	365,775	252,972
Deferred tax liabilities	230,051	239,720
Other long-term liabilities	195,075	242,859
Total liabilities	4,836,257	4,432,300
Commitments and contingencies (Notes 2, 9, 11 and 13)
Redeemable noncontrolling interests	40,177	53,010
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; 50,990 shares issued and 50,861 shares outstanding as of June 25, 2022, and 50,480 shares issued and outstanding as of December 25, 2021	510	505
Additional paid-in capital	1,761,125	1,718,304
Retained earnings	1,183,094	980,751
Treasury stock, at cost, 129 and 0 shares, as of June 25, 2022 and December 25, 2021, respectively	(38,468)	0
Accumulated other comprehensive loss	(258,555)	(164,740)
Total equity attributable to common shareholders	2,647,706	2,534,820
Noncontrolling interest	5,221	4,162
Total equity	2,652,927	2,538,982
Total liabilities, redeemable noncontrolling interests and equity	7,529,361	7,024,292
Client relationships, net
Current assets:
Client relationships and other intangible assets, net	965,206	981,398
Other intangible assets, net
Current assets:
Client relationships and other intangible assets, net	$ 67,166	$ 79,794

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 7,928	$ 7,180
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)	50,990,000	50,480,000
Common stock, shares outstanding (in shares)	50,861,000	50,480,000
Treasury stock, shares (in shares)	129,000	0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Cash flows relating to operating activities
Net income	$ 205,890	$ 153,851
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	151,720	129,613
Stock-based compensation	29,549	30,266
Loss on debt extinguishment and other financing costs	1,987	27,980
Deferred income taxes	(14,684)	8,891
Loss on venture capital and strategic equity investments, net	23,515	6,910
Contingent consideration, fair value changes	(15,420)	0
Other, net	13,520	(475)
Changes in assets and liabilities:
Trade receivables and contract assets, net	(117,642)	(5,224)
Inventories	(63,725)	(7,107)
Accounts payable	31,466	(13,383)
Accrued compensation	(38,173)	13,932
Deferred revenue	27,641	502
Customer contract deposits	16,100	(2,032)
Other assets and liabilities, net	360	13,095
Net cash provided by operating activities	252,104	356,819
Cash flows relating to investing activities
Acquisition of businesses and assets, net of cash acquired	(283,392)	(1,000,505)
Capital expenditures	(163,316)	(74,461)
Purchases of investments and contributions to venture capital investments	(108,842)	(23,266)
Proceeds from sale of investments	205	5,204
Other, net	(4,774)	839
Net cash used in investing activities	(560,119)	(1,092,189)
Cash flows relating to financing activities
Proceeds from long-term debt and revolving credit facility	2,180,511	4,999,942
Proceeds from exercises of stock options	15,571	35,298
Payments on long-term debt, revolving credit facility, and finance lease obligations	(1,856,262)	(4,241,772)
Purchase of treasury stock	(38,468)	(40,297)
Payment of debt extinguishment and financing costs	0	(38,166)
Payment of contingent considerations	(10,356)	0
Other, net	(32,843)	(2,330)
Net cash provided by financing activities	258,153	712,675
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	10,756	17,066
Net change in cash, cash equivalents, and restricted cash	(39,106)	(5,629)
Cash, cash equivalents, and restricted cash, beginning of period	246,314	233,119
Cash, cash equivalents, and restricted cash, end of period	207,208	227,490
Supplemental cash flow information:
Cash and cash equivalents	200,321	222,969
Restricted cash included in Other current assets	5,797	3,118
Restricted cash included in Other assets	1,090	1,403
Cash, cash equivalents, and restricted cash, end of period	$ 207,208	$ 227,490

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Total	Total Equity Attributable to Common Shareholders	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interest
Beginning balance (in shares) at Dec. 26, 2020			49,767
Beginning balance (in shares) at Dec. 26, 2020							0
Beginning balance at Dec. 26, 2020	$ 2,118,169	$ 2,114,602	$ 498	$ 1,627,564	$ 625,414	$ (138,874)	$ 0	$ 3,567
Increase (Decrease) in Stockholders' Equity
Net income	62,220	61,530			61,530			690
Other comprehensive income (loss)	11,857	11,857				11,857
Adjustment of redeemable noncontrolling interest to redemption value	(835)	(835)		(835)
Issuance of stock under employee compensation plans (in shares)			583
Issuance of stock under employee compensation plans	19,612	19,612	$ 6	19,606
Purchase of treasury shares (in shares)							134
Purchase of treasury shares	(36,028)	(36,028)					$ (36,028)
Stock-based compensation	13,189	13,189		13,189
Ending balance (in shares) at Mar. 27, 2021			50,350
Ending balance (in shares) at Mar. 27, 2021							134
Ending balance at Mar. 27, 2021	2,188,184	2,183,927	$ 504	1,659,524	686,944	(127,017)	$ (36,028)	4,257
Increase (Decrease) in Stockholders' Equity
Net income	89,031	88,448			88,448			583
Other comprehensive income (loss)	18,996	18,996				18,996
Adjustment of redeemable noncontrolling interest to redemption value	(1,506)	(1,506)		(1,506)
Issuance of stock under employee compensation plans (in shares)			188
Issuance of stock under employee compensation plans	15,767	15,767	$ 1	15,766
Purchase of treasury shares (in shares)							13
Purchase of treasury shares	(4,269)	(4,269)					$ (4,269)
Stock-based compensation	17,077	17,077		17,077
Ending balance (in shares) at Jun. 26, 2021			50,538
Ending balance (in shares) at Jun. 26, 2021							147
Ending balance at Jun. 26, 2021	$ 2,323,280	2,318,440	$ 505	1,690,861	775,392	(108,021)	$ (40,297)	4,840
Beginning balance (in shares) at Dec. 25, 2021	50,480		50,480
Beginning balance (in shares) at Dec. 25, 2021	0						0
Beginning balance at Dec. 25, 2021	$ 2,538,982	2,534,820	$ 505	1,718,304	980,751	(164,740)	$ 0	4,162
Increase (Decrease) in Stockholders' Equity
Net income	93,582	93,022			93,022			560
Other comprehensive income (loss)	(10,193)	(10,193)				(10,193)
Adjustment of redeemable noncontrolling interest to redemption value	(1,161)	(1,161)		(1,161)
Issuance of stock under employee compensation plans (in shares)			431
Issuance of stock under employee compensation plans	13,071	13,071	$ 4	13,067
Purchase of treasury shares (in shares)							111
Purchase of treasury shares	(33,994)	(33,994)					$ (33,994)
Stock-based compensation	14,619	14,619		14,619
Ending balance (in shares) at Mar. 26, 2022			50,911
Ending balance (in shares) at Mar. 26, 2022							111
Ending balance at Mar. 26, 2022	2,614,906	2,610,184	$ 509	1,744,829	1,073,773	(174,933)	$ (33,994)	4,722
Increase (Decrease) in Stockholders' Equity
Net income	109,820	109,321			109,321			499
Other comprehensive income (loss)	(83,622)	(83,622)				(83,622)
Adjustment of redeemable noncontrolling interest to redemption value	(1,132)	(1,132)		(1,132)
Issuance of stock under employee compensation plans (in shares)			79
Issuance of stock under employee compensation plans	2,499	2,499	$ 1	2,498
Purchase of treasury shares (in shares)							18
Purchase of treasury shares	(4,474)	(4,474)					$ (4,474)
Stock-based compensation	$ 14,930	14,930		14,930
Ending balance (in shares) at Jun. 25, 2022	50,861		50,990
Ending balance (in shares) at Jun. 25, 2022	129						129
Ending balance at Jun. 25, 2022	$ 2,652,927	$ 2,647,706	$ 510	$ 1,761,125	$ 1,183,094	$ (258,555)	$ (38,468)	$ 5,221

BASIS OF PRESENTATION	6 Months Ended
BASIS OF PRESENTATION	Jun. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying condensed consolidated financial statements are unaudited and have been prepared by Charles River Laboratories International, Inc. (the Company) in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). The year-end condensed consolidated balance sheet data was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for fiscal year 2021. The unaudited condensed consolidated financial statements, in the opinion of management, reflect all normal and recurring adjustments necessary for a fair statement of the Company’s financial position and results of operations. Use of Estimates The preparation of unaudited condensed consolidated financial statements in accordance with 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. Newly Issued Accounting Pronouncements In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” ASU 2022-03 sets disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The ASU also clarifies that contractual sale restrictions should not be considered when measuring fair value of equity securities. The ASU is effective for fiscal years beginning after December 15, 2023 and will be applied on a prospective basis. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements and related disclosures, but does not believe there will be a material impact. In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities About Government Assistance.” ASU 2021-10 requires disclosures about transactions with a government that have been accounted for by a grant or contribution accounting model to increase transparency about the types of transactions, the accounting for the transactions, and the effect on the financial statements. The ASU is an annual disclosure effective for fiscal years beginning after December 15, 2021 and will be applied on a prospective basis. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements and related disclosures, but does not believe there will be a material impact. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 1, “Description of Business and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for fiscal year 2021. Consolidation The Company’s unaudited condensed 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. A 53rd week in the fourth quarter of the fiscal year is occasionally necessary to align with a December 31 calendar year-end, which will occur in this fiscal year 2022. Segment Reporting The Company reports its results in three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing). The Company’s RMS reportable segment includes the Research Models, Research Model Services, and Research and GMP-Compliant Cells 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 and GMP-Compliant Cells, 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 nonregulated (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 Solutions (Biologics), which performs specialized testing of biologics (Biologics Testing Solutions) as well as contract development and manufacturing products and services (CDMO); Avian Vaccine Services (Avian), which supplies specific-pathogen-free chicken eggs and chickens.

ACQUISITIONS AND DIVESTITURES

6 Months Ended

Jun. 25, 2022

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS AND DIVESTITURES

Fiscal 2022 Acquisition

Explora BioLabs Holdings, Inc.

On April 5, 2022, the Company acquired Explora BioLabs Holdings, Inc. (Explora BioLabs), a provider of contract vivarium research services, providing biopharmaceutical clients with turnkey in vivo vivarium facilities, management and related services to efficiently conduct their early-stage research activities. The acquisition of Explora BioLabs complements the Company’s existing Insourcing Solutions business, specifically the CRADL (Charles River Accelerator and Development Lab) footprint, and offers incremental opportunities to partner with an emerging client base, many of which are engaged in cell and gene therapy development. The preliminary purchase price of Explora BioLabs was $284.5 million, net of $6.6 million in cash. The acquisition was funded through proceeds from the Company’s credit facility (Credit Facility). This business is reported as part of the Company’s RMS reportable segment.

Fiscal 2021 Acquisitions

Vigene Biosciences, Inc.

On June 28, 2021, the Company acquired Vigene Biosciences, Inc. (Vigene), a gene therapy CDMO, providing viral vector-based gene delivery solutions. The acquisition enables clients to seamlessly conduct analytical testing, process development, and manufacturing for advanced modalities with the same scientific partner. The purchase price of Vigene was $323.9 million, net of $2.7 million in cash. Included in the purchase price are contingent payments fair valued at $34.5 million, which was estimated using a Monte Carlo Simulation model (the maximum contingent contractual payments are up to $57.5 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 is reported as part of the Company’s Manufacturing reportable segment. As of June 25, 2022, the fair value of the contingent consideration was zero as certain financial targets have not and are not expected to be achieved.

Retrogenix Limited

On March 30, 2021, the Company acquired Retrogenix Limited (Retrogenix), an early-stage contract research organization providing specialized bioanalytical services utilizing its proprietary cell microarray technology. The acquisition of Retrogenix enhances the Company’s scientific expertise with additional large molecule and cell therapy discovery capabilities. The purchase price of Retrogenix was $53.9 million, net of $8.5 million in cash. Included in the purchase price are contingent payments fair valued at $6.9 million, which is the maximum potential payout, and was based on a probability-weighted approach. 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.

Cognate BioServices, Inc.

On March 29, 2021, the Company acquired Cognate BioServices, Inc. (Cognate), a cell and gene therapy CDMO offering comprehensive manufacturing solutions for cell therapies, as well as for the production of plasmid DNA and other inputs in the CDMO value chain. The acquisition of Cognate establishes the Company as a scientific partner for cell and gene therapy development, testing, and manufacturing, providing clients with an integrated solution from basic research and discovery through cGMP production. The purchase price of Cognate was $877.9 million, net of $70.5 million in cash and includes $15.7 million of consideration for an approximate 2% ownership interest not acquired, which was redeemed in April 2022 with the ultimate payout tied to performance in 2021. The acquisition was funded through a combination of available cash and proceeds from the Company’s Credit Facility and senior notes (Senior Notes) issued in fiscal 2021. This business is reported as part of the Company’s Manufacturing reportable segment.

Distributed Bio, Inc.

On December 31, 2020, 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 purchase price of Distributed Bio was $97.0 million, net of $0.8 million in cash. The total consideration includes $80.8 million cash paid, settlement of $3.0 million in convertible promissory notes previously issued by the Company during prior fiscal years, and $14.1 million of contingent consideration, which was estimated using a Monte Carlo Simulation model (the maximum contingent contractual payments are up to $21.0 million based on future performance and milestone achievements over a one-year period). 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. During the three months ended June 25, 2022, $7.0 million of contingent consideration was paid as certain operational milestones were achieved. Other financial targets associated with the contingent consideration were not met and the fair value of the remaining contingent consideration is zero.

Other Acquisition

On March 3, 2021, the Company acquired certain assets from a distributor that supports the Company’s DSA reportable segment. The purchase price was $35.4 million, which includes $19.5 million in cash paid ($5.5 million of which was paid in fiscal 2020), and $15.9 million of contingent consideration, which was estimated using a Monte Carlo Simulation model (the maximum contingent contractual payments are up to $17.5 million based on future performance over a three-year period). The fair value of the net assets acquired included $17.3 million of goodwill, $15.2 million attributed to supplier relationships (to be amortized over a 4-year period), and $3.0 million of property, plant, and equipment. The business is reported as part of the Company’s DSA reportable segment. As of June 25, 2022, the fair value of the contingent consideration was zero as certain operational targets were not achieved.

Purchase price information

The purchase price allocation was as follows:


	Explora (1)		Vigene		Retrogenix		Cognate		Distributed Bio
	April 5, 2022		June 28, 2021		March 30, 2021		March 29, 2021		December 31, 2020
	(in thousands)
Trade receivables	$	7,679	$	3,548	$	2,266	$	18,566	$	2,722
Other current assets (excluding cash)	1,067		1,657		209		14,128		221
Property, plant and equipment	37,369		7,649		400		52,082		2,382
Operating lease right-of-use asset, net	48,613		22,507		1,385		34,349		1,586
Goodwill (2)	216,324		239,681		34,489		611,555		71,585
Definite-lived intangible assets	70,100		93,900		22,126		270,900		24,540
Other long-term assets	556		694		—		6,098		469
Deferred revenue	(3,507)		(4,260)		(434)		(20,539)		(1,319)
Other current liabilities (3)	(15,507)		(6,319)		(1,141)		(45,388)		(1,504)
Operating lease right-of-use liabilities (Long-term)	(57,193)		(21,220)		(1,205)		(31,383)		(1,123)
Deferred tax liabilities	(19,173)		(13,958)		(4,174)		(32,503)		(2,529)
Other long-term liabilities	(1,807)		—		—		—		—
Total purchase price allocation	$	284,521	$	323,879	$	53,921	$	877,865	$	97,030

(1) Purchase price allocation is preliminary and 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. 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.
(2) The goodwill resulting from these transactions is primarily attributable to the potential growth of the Company’s segments from new customers introduced to the acquired businesses and the assembled workforce of the acquirees, thus is not deductible for tax purposes. Explora BioLabs had $5.0 million of goodwill due to a prior asset acquisition that is not deductible for tax purposes.
(3) In connection with its acquisitions of businesses, the Company routinely records liabilities related to indirect state and local taxes for preacquisition periods when such liabilities are estimable and deemed probable. The Company may or may not be indemnified for such indirect tax liabilities under terms of the acquisitions. As these indirect tax contingencies are resolved, actual obligations, and any indemnifications, may differ from the recorded amounts and any differences are reflected in reported results in the period in which these are resolved. Specifically for Cognate, as of March 29, 2021, the Company recorded an estimated liability of $17 million pertaining to indirect state sales taxes. During the three months ended June 25, 2022, the Company received a favorable ruling from the applicable state in which the indirect state sales tax liability arose and, accordingly, this liability was reduced in full, resulting in a gain recorded through selling, general and administrative expenses in the period.

The definite-lived intangible assets acquired were as follows:


	Explora BioLabs		Vigene		Retrogenix		Cognate		Distributed Bio
Definite-Lived Intangible Assets	(in thousands)
Client relationships	$	64,000	$	87,500	$	17,340	$	257,200	$	16,080
Other intangible assets	6,100		6,400		4,786		13,700		8,460
Total definite-lived intangible assets	$	70,100	$	93,900	$	22,126	$	270,900	$	24,540

Weighted Average Amortization Life	(in years)
Client relationships	13		12		13		13		9
Other intangible assets	4		2		3		2		4
Total definite-lived intangible assets	12		11		11		13		7


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Transaction and Integration Costs
Selling, general and administrative expenses	$	4,426	$	14,694	$	11,539	$	23,411

Pro forma information

The following selected unaudited pro forma consolidated results of operations are presented as if the Cognate and Vigene acquisitions had occurred as of the beginning of the period immediately preceding the period of acquisition, which is December 29, 2019, after giving effect to certain adjustments. For the three and six months ended June 26, 2021, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $4.0 million and $13.3 million, additional interest expense on borrowing of $2.2 million and $5.6 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments. All other acquisitions have not been included because that information is not material to the consolidated financial statements.


	June 26, 2021
	Three Months Ended		Six Months Ended
	(in thousands)
	(unaudited)
Revenue	$	923,859	$	1,782,659
Net income attributable to common shareholders	94,984		132,559

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.

RMS Japan Divestiture

On October 12, 2021, the Company sold its RMS Japan operations to The Jackson Laboratory for a preliminary purchase price of $70.6 million, which included $7.9 million in cash, $3.8 million pension over funding, and certain post-closing adjustments.

The RMS Japan business was reported in the Company’s RMS reportable segment. The Company determined that the RMS Japan business was not optimized within the Company’s portfolio at its current scale, and that the capital could be better deployed in other long-term growth opportunities.

CDMO Sweden Divestiture

On October 12, 2021, the Company sold its gene therapy CDMO site in Sweden to a private investor group for a preliminary purchase price of $59.6 million, net of $0.2 million in cash and other post-closing adjustments that may impact the purchase price. Included in the purchase price are contingent payments fair valued at $15.3 million, which were estimated using a probability weighted model (the maximum contingent contractual payments are up to $25.0 million based on future performance), as well as a purchase obligation of approximately $10.0 million between the parties.

The CDMO Sweden business was acquired in March 2021 as part of the acquisition of Cognate and was reported in the Company’s Manufacturing reportable segment. The Company routinely evaluates the strategic fit and fundamental performance of our acquisitions integrated within our global infrastructure. As part of this assessment, the Company determined that this capital could be better deployed in other long-term growth opportunities.

The carrying amounts of the major classes of assets and liabilities associated with the divestitures of the businesses were as follows:


	October 12, 2021
	RMS Japan		CDMO Sweden
	(in thousands)
Assets
Current assets	$	26,524	$	8,187
Property, plant, and equipment, net	17,379		14,339
Operating lease right-of-use assets, net	—		19,733
Goodwill	4,129		27,764
Intangible assets, net	—		14,089
Other assets	3,695		—
Total assets	$	51,727	$	84,112

Liabilities
Current liabilities	$	8,705	$	6,386
Operating lease right-of-use liabilities	—		18,221
Long-term liabilities	94		—
Total liabilities	$	8,799	$	24,607

REVENUE FROM CONTRACTS WITH CUSTOMERS

6 Months Ended

Jun. 25, 2022

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:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Timing of Revenue Recognition:
RMS
Services and products transferred over time	$	85,803	$	66,334	$	155,727	$	131,230
Services and products transferred at a point in time	100,607		110,360		207,225		222,374
Total RMS revenue	186,410		176,694		362,952		353,604
DSA
Services and products transferred over time	589,371		539,790		1,131,707		1,040,258
Services and products transferred at a point in time	2,546		304		4,469		1,014
Total DSA revenue	591,917		540,094		1,136,176		1,041,272
Manufacturing
Services and products transferred over time	92,811		95,974		187,820		146,542
Services and products transferred at a point in time	101,993		101,845		200,112		197,755
Total Manufacturing revenue	194,804		197,819		387,932		344,297
Total revenue	$	973,131	$	914,607	$	1,887,060	$	1,739,173

RMS

The RMS business generates revenue through the commercial production and sale of research models, research and GMP-compliant cells (cell supply), 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 cell supply 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 DSA 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. DSA 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 Solutions (Biologics), which performs specialized testing of biologics (Biologics Testing Solutions) as well as contract development and manufacturing products and services (CDMO); 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 June 25, 2022. Excluded from the disclosure is the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed and (iii) service revenue recognized in accordance with ASC 842, “Leases” (see additional disclosure for Other 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 June 25, 2022:


	Revenue Expected to be Recognized in Future Periods
	Less than 1 Year		1 to 3 Years		4 to 5 Years		Beyond 5 Years		Total
	(in thousands)
DSA	$	499,945	$	429,944	$	52,543	$	3,083	$	985,515
Manufacturing	1,621		—		—		—		1,621
Total	$	501,566	$	429,944	$	52,543	$	3,083	$	987,136

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 unaudited condensed 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:


	June 25, 2022		December 25, 2021
	(in thousands)
Balances from contracts with customers:
Client receivables	$	564,719	$	489,452
Contract assets (unbilled revenue)	190,814		160,609
Contract liabilities (current and long-term deferred revenue)	262,850		240,281
Contract liabilities (customer contract deposits)	77,038		59,512

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 $49 million and $36 million of unpaid advanced client billings from both client receivables and deferred revenue in the accompanying unaudited condensed consolidated balance sheets as of June 25, 2022 and December 25, 2021, respectively. Advanced client payments of approximately $77 million and $60 million have been presented as customer contract deposits within other current liabilities in the accompanying unaudited condensed consolidated balance sheets as of June 25, 2022 and December 25, 2021, respectively.

Other changes in the contract asset and the contract liability balances during the six months ended June 25, 2022 and June 26, 2021 were as follows:

(i) Changes due to acquisitions and divestitures:

See Note 2 “Acquisitions and Divestitures” for the Company’s recent acquisitions.

(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 the six months ended June 25, 2022 and June 26, 2021, immaterial cumulative catch-up adjustments to revenue were 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 75% of unbilled revenue as of December 25, 2021, which was $161 million, was billed during the six months ended June 25, 2022. Approximately 80% of unbilled revenue as of December 26, 2020, which was $135 million, was billed during the six months ended June 26, 2021.

(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 75% of contract liabilities as of December 25, 2021, which was $240 million, were recognized as revenue during the six months ended June 25, 2022. Approximately 75% of contract liabilities as of December 26, 2020, which was $227 million, were recognized as revenue during the six months ended June 26, 2021.

Other Performance Obligations

As part of the Company’s service offerings, primarily in the Manufacturing and RMS segments, the Company has identified performance obligations related to leasing Company owned assets. In certain arrangements, customers obtain substantially all of the economic benefits of the identified assets, which may include manufacturing suites and related equipment, and have the right to direct the assets’ use over the term of the contract. The associated revenue is recognized on a straight-line basis over the term of the lease, which is generally less than one year. For the three months ended June 25, 2022 and June 26, 2021, the Company recognized lease revenue of $13.9 million and $6.3 million, which is recorded within service revenue, which is transferred over time, within the unaudited condensed consolidated statements of income. For the six months ended June 25, 2022 and June 26, 2021, the Company recognized lease revenue of $21.8 million and $6.3 million within the unaudited condensed consolidated statements of income. Due to the nature of these arrangements and timing of the contractual lease term, the remaining revenue to be recognized related to these lease performance obligations is not material to the unaudited condensed consolidated financial statements.

- 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 https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT INFORMATION

6 Months Ended

Jun. 25, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
RMS
Revenue	$	186,410	$	176,694	$	362,952	$	353,604
Operating income	39,526		42,580		87,408		87,515
Depreciation and amortization	13,228		9,844		22,697		19,523
Capital expenditures	13,850		8,512		22,496		11,495
DSA
Revenue	$	591,917	$	540,094	$	1,136,176	$	1,041,272
Operating income	128,793		104,514		233,779		195,463
Depreciation and amortization	44,626		43,588		91,415		88,196
Capital expenditures	41,578		20,473		90,508		37,513
Manufacturing
Revenue	$	194,804	$	197,819	$	387,932	$	344,297
Operating income	62,503		56,717		108,871		106,154
Depreciation and amortization	18,000		13,952		36,482		20,521
Capital expenditures	24,431		13,602		47,259		20,712

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				Capital Expenditures
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Three Months Ended:
Total reportable segments	$	230,822	$	203,811	$	75,854	$	67,384	$	79,859	$	42,587
Unallocated corporate	(43,411)		(66,261)		567		721		2,993		3,844
Total consolidated	$	187,411	$	137,550	$	76,421	$	68,105	$	82,852	$	46,431

Six Months Ended
Total reportable segments	$	430,058	$	389,132	$	150,594	$	128,240	$	160,263	$	69,720
Unallocated corporate	(93,869)		(127,879)		1,126		1,373		3,053		4,741
Total consolidated	$	336,189	$	261,253	$	151,720	$	129,613	$	163,316	$	74,461

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
RMS	$	186,410	$	176,694	$	362,952	$	353,604
DSA	591,917		540,094		1,136,176		1,041,272
Manufacturing	194,804		197,819		387,932		344,297
Total revenue	$	973,131	$	914,607	$	1,887,060	$	1,739,173

A summary of unallocated corporate expense consists of the following:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Stock-based compensation	$	8,531	$	10,417	$	17,034	$	18,059
Compensation, benefits, and other employee-related expenses	20,507		25,924		49,143		53,286
External consulting and other service expenses	4,727		6,301		9,046		13,657
Information technology	3,079		4,117		5,553		8,212
Depreciation	567		721		1,126		1,373
Acquisition and integration	3,014		15,036		8,840		25,596
Other general unallocated corporate	2,986		3,745		3,127		7,696
Total unallocated corporate expense	$	43,411	$	66,261	$	93,869	$	127,879

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 by geographic area is as follows:


	U.S.		Europe		Canada		Asia Pacific		Other		Consolidated
	(in thousands)
Three Months Ended:
June 25, 2022	$	566,917	$	263,584	$	93,694	$	46,239	$	2,697	$	973,131
June 26, 2021	491,619		275,706		90,565		55,133		1,584		914,607

Six Months Ended:
June 25, 2022	$	1,093,466	$	514,671	$	178,940	$	95,185	$	4,798	$	1,887,060
June 26, 2021	940,101		513,241		167,672		114,579		3,580		1,739,173

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.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
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-Name Accounting Standards Codification
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+ Details

SUPPLEMENTAL BALANCE SHEET INFORMATION

6 Months Ended

Jun. 25, 2022

Supplemental Balance Sheet Information [Abstract]

SUPPLEMENTAL BALANCE SHEET INFORMATION

The composition of trade receivables and contract assets, net is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Client receivables	$	564,719	$	489,452
Unbilled revenue	190,814		160,609
Total	755,533		650,061
Less: Allowance for credit losses	(7,928)		(7,180)
Trade receivables and contract assets, net	$	747,605	$	642,881

The composition of inventories is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Raw materials and supplies	$	37,237	$	33,118
Work in process	43,615		40,268
Finished products	175,913		125,760
Inventories	$	256,765	$	199,146

The composition of other current assets is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Prepaid income tax	$	92,909	$	84,725
Short-term investments	1,012		1,063
Restricted cash	5,797		4,023
Other receivables	7,738		7,500
Other current assets	$	107,456	$	97,311

The composition of other assets is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Venture capital investments	$	127,864	$	149,640
Strategic equity investments	151,207		51,712
Life insurance policies	42,116		51,048
Other long-term income tax assets	16,412		18,690
Restricted cash	1,090		1,077
Long-term pension assets	37,357		39,582
Other	59,589		41,140
Other assets	$	435,635	$	352,889

The composition of other current liabilities is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Current portion of operating lease right-of-use liabilities	$	48,937	$	33,267
Accrued income taxes	46,226		26,161
Customer contract deposits	77,038		59,512
Other	17,909		18,701
Other current liabilities	$	190,110	$	137,641

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


	June 25, 2022		December 25, 2021
	(in thousands)
U.S. Transition Tax	$	32,324	$	43,057
Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plans	103,245		104,944
Long-term deferred revenue	20,766		20,578
Other	38,740		74,280
Other long-term liabilities	$	195,075	$	242,859

VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS	6 Months Ended
VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS	Jun. 25, 2022
Equity Method Investments and Joint Ventures [Abstract]
VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS	VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS Venture capital investments were $127.9 million and $149.6 million as of June 25, 2022 and December 25, 2021, respectively. The Company’s total commitment to the venture capital funds as of June 25, 2022 was $192.7 million, of which the Company funded $119.7 million through that date. The Company received distributions totaling $2.7 million and $18.2 million for the three months ended June 25, 2022 and June 26, 2021, respectively. The Company received distributions totaling $4.0 million and $27.5 million for the six months ended June 25, 2022 and June 26, 2021, respectively. The Company recognized net losses on venture capital investments of $9.7 million for the three months ended June 25, 2022 and net gains of $11.1 million for the three months ended June 26, 2021, both of which were driven primarily by publicly-held investments. The Company recognized net losses on venture capital investments of $23.1 million for the six months ended June 25, 2022, driven by the decrease in the fair value of publicly-held investments offset by increases from private investments, and net losses of $5.3 million for the six months ended June 26, 2021, which were driven by publicly-held and private investments. The Company also invests, with minority positions, directly in equity of privately-held companies. Strategic equity investments were $151.2 million and $51.7 million as of June 25, 2022 and December 25, 2021, respectively. In April 2022, the Company acquired a 49% equity interest in a supplier supporting the DSA reportable segment (the Investee) for $90.0 million up front and an additional future contingent payment of up to $5.0 million based upon the Investee’s future performance. The total allocable basis of the investment exceeds the proportional interest in the Investee’s underlying net assets by $86.7 million, which has been allocated primarily to goodwill, intangible assets (client relationships and backlog), and deferred tax liabilities in the amount of $26.2 million and $71.2 million, and $10.7 million respectively. The Company recognizes its proportional share of the Investee’s earnings, adjusted for the amortization of the intangible assets over their useful lives and any intra-entity eliminations, under the equity method of accounting on a three-month lag within other income (expense), net in the accompanying consolidated statements of income. Summarized financial information for this equity method Investee is not presented as such information is not material to the Company’s financial statements. The Company purchased additional strategic equity investments of $12.2 million during the six months ended June 25, 2022 and recognized insignificant gains and losses for the three and six months ended June 25, 2022 and June 26, 2021. Additionally, as of June 25, 2022 the Company has a $25 million commitment to purchase an additional interest in an existing strategic equity investment.

FAIR VALUE

6 Months Ended

Jun. 25, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE

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


	June 25, 2022
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	77	$	—	$	77
Other assets:
Life insurance policies	—		34,882		—		34,882
Total assets measured at fair value	$	—	$	34,959	$	—	$	34,959

Accrued liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	9,550	$	9,550


Total liabilities measured at fair value	$	—	$	—	$	9,550	$	9,550

The Company recognizes transfers between levels within the fair value hierarchy, if any, at the end of each quarter. During the six months ended June 25, 2022, there were no transfers between levels.


	December 25, 2021
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	893	$	—	$	893
Other assets:
Life insurance policies	—		42,918		—		42,918
Total assets measured at fair value	$	—	$	43,811	$	—	$	43,811

Accrued liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	11,794	$	11,794
Other long-term liabilities measured at fair value:
Contingent consideration	—		—		25,450		25,450
Total liabilities measured at fair value	$	—	$	—	$	37,244	$	37,244

During the year ended December 25, 2021, there were no transfers between levels.

Contingent Consideration

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


	Six Months Ended
	June 25, 2022		June 26, 2021
	(in thousands)
Beginning balance	$	37,244	$	2,328
Additions	—		37,983
Payments	(11,476)		(2,889)
Total gains or losses (realized/unrealized):
Adjustment of previously recorded contingent liability	(15,340)		—
Foreign currency translation	(878)		(115)
Ending balance	$	9,550	$	37,307

The Company estimates the fair value of contingent consideration obligations through valuation models, such as probability-weighted and option pricing models, that incorporate probability adjusted assumptions and simulations related to the achievement of the milestones and the likelihood of making related payments. The unobservable inputs used in the fair value measurements include the probabilities of successful achievement of certain financial targets, forecasted results or targets, volatility, and discount rates. The remaining maximum potential payments are approximately $53 million, of which the value accrued as of June 25, 2022 is approximately $10 million. The weighted average probability of achieving the maximum target is approximately 18%. The average volatility and weighted average cost of capital are approximately 40% and 16%, respectively. Increases or decreases in these assumptions may result in a higher or lower 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 Senior Notes are fixed rate obligations 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 Senior Notes is summarized below:


	June 25, 2022				December 25, 2021
	Book Value		Fair Value		Book Value		Fair Value
4.25% Senior Notes due 2028	$	500,000	$	453,100	$	500,000	$	521,250
3.75% Senior Notes due 2029	500,000		437,500		500,000		506,700
4.0% Senior Notes due 2031	500,000		438,100		500,000		507,500

- 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

6 Months Ended

Jun. 25, 2022

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
	December 25, 2021		Acquisition Related		Foreign Exchange		June 25, 2022
	(in thousands)
RMS	$	283,524	$	216,324	$	(1,152)	$	498,696
DSA	1,472,506		—		(36,509)		1,435,997
Manufacturing	955,851		(592)		(29,694)		925,565
Goodwill	$	2,711,881	$	215,732	$	(67,355)	$	2,860,258

The increase in goodwill during the six months ended June 25, 2022 related primarily to the acquisition of Explora BioLabs in the RMS reportable segment.

Intangible Assets, Net

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


	June 25, 2022						December 25, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Backlog	$	15,295	$	(11,862)	$	3,433	$	12,577	$	(9,517)	$	3,060
Technology	130,236		(98,132)		32,104		135,764		(95,454)		40,310
Trademarks and trade names	12,680		(3,982)		8,698		13,086		(3,448)		9,638
Other	38,153		(15,222)		22,931		35,231		(8,445)		26,786
Other intangible assets	196,364		(129,198)		67,166		196,658		(116,864)		79,794
Client relationships	1,504,441		(539,235)		965,206		1,475,757		(494,359)		981,398
Intangible assets	$	1,700,805	$	(668,433)	$	1,032,372	$	1,672,415	$	(611,223)	$	1,061,192

The increase in intangible assets, net during the six months ended June 25, 2022 related primarily to the acquisition of Explora BioLabs, offset by normal amortization over the useful lives

DEBT AND OTHER FINANCING ARRANGEMENTS

6 Months Ended

Jun. 25, 2022

Debt Disclosure [Abstract]

DEBT AND OTHER FINANCING ARRANGEMENTS

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


	June 25, 2022		December 25, 2021
	(in thousands)

Revolving facility	$	1,486,976	$	1,161,431
4.25% Senior Notes due 2028	500,000		500,000
3.75% Senior Notes due 2029	500,000		500,000
4.00% Senior Notes due 2031	500,000		500,000
Other debt	350		368
Finance leases	32,961		27,223
Total debt and finance leases	3,020,287		2,689,022
Less:
Current portion of long-term debt	95		101
Current portion of finance leases	2,269		2,694
Current portion of long-term debt and finance leases	2,364		2,795
Long-term debt and finance leases	3,017,923		2,686,227
Debt discount and debt issuance costs	(20,702)		(22,663)
Long-term debt, net and finance leases	$	2,997,221	$	2,663,564

As of June 25, 2022 and December 25, 2021, the weighted average interest rate on the Company’s debt was 3.15% and 2.78%, respectively. During the six months ended June 26, 2021, the Company prepaid $500 million of Senior Notes due in 2026 along with $21 million of related debt extinguishment costs and $13 million of accrued interest using proceeds from additional senior notes issued on the same day. The payment of the 2026 Senior Notes was accounted for as a debt extinguishment. Approximately $21 million of debt extinguishment costs and $5 million of deferred financing costs write-offs were recorded in Interest expense for the six months ended June 26, 2021.

Foreign currency transactions

During the three and six months ended June 25, 2022 and June 26, 2021 the Company had multiple U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Credit Facility, which were approximately

$400 million each. To limit this foreign currency exposure, the Company entered into foreign exchange forward contracts, which are not designated as hedging instruments. The gains and losses incurred on these transactions were as follows:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021		Affected Line Item in the Consolidated Statements of Income
	(in thousands)
Gain (loss) on foreign debt remeasurement	$	(19,423)	$	(4,907)	$	(30,523)	$	(18,263)	Other (expense) income
Gain (loss) on foreign exchange forward contract	20,522		5,355		32,306		19,332		Interest expense

Letters of Credit

As of June 25, 2022 and December 25, 2021, the Company had $17.7 million in outstanding letters of credit.

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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+ Details

EQUITY AND NONCONTROLLING INTERESTS

6 Months Ended

Jun. 25, 2022

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:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Numerator:
Net income	$	110,664	$	89,916	$	205,890	$	153,851
Less: Net income attributable to noncontrolling interests	1,343		1,468		3,547		3,873
Net income attributable to common shareholders	$	109,321	$	88,448	$	202,343	$	149,978

Denominator:
Weighted-average shares outstanding - Basic	50,823		50,297		50,732		50,138
Effect of dilutive securities:
Stock options, restricted stock units and performance share units	460		1,037		561		1,087
Weighted-average shares outstanding - Diluted	51,283		51,334		51,293		51,225

Anti-dilutive common stock equivalents(1)	597		159		550		159

(1) These common stock equivalents were outstanding for the periods presented, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect.

Treasury Shares

During the six months ended June 25, 2022 and June 26, 2021, the Company did not repurchase any shares under its authorized stock repurchase program. As of June 25, 2022, 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 RSUs and PSUs in order to satisfy individual statutory tax withholding requirements. During the six months ended June 25, 2022 and June 26, 2021, the Company acquired 0.1 million shares for $38.5 million and 0.1 million shares for $40.3 million, respectively, from such netting.

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 25, 2021	$	(98,173)	$	(66,567)	$	(164,740)
Other comprehensive loss before reclassifications	(104,196)		—		(104,196)
Amounts reclassified from accumulated other comprehensive income	—		1,487		1,487
Net current period other comprehensive (loss) income	(104,196)		1,487		(102,709)
Income tax (benefit) expense	(9,264)		370		(8,894)
June 25, 2022	$	(193,105)	$	(65,450)	$	(258,555)

Nonredeemable Noncontrolling Interest

The Company has an investment in an entity whose financial results are consolidated in the Company’s unaudited condensed consolidated 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 unaudited condensed consolidated balance sheets. The activity within the nonredeemable noncontrolling interest was not significant during the three and six months ended June 25, 2022 and June 26, 2021.

Redeemable Noncontrolling Interests

The Company has a 92% equity interest in Vital River with an 8% redeemable noncontrolling interest. The Company has the right to purchase, and the noncontrolling interest holders have the right to sell, the remaining 8% equity interest at a contractually defined redemption value, subject to a redemption floor, which represents a derivative embedded within the equity instrument. 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 ($24.3 million as of June 25, 2022) 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 unaudited condensed 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.

Prior to June 2022, the Company had an 80% equity interest in a subsidiary with a 20% redeemable noncontrolling interest. In June 2022, the Company purchased an additional 10% interest in the subsidiary for $15.0 million. Beginning in 2024, the Company has the right to purchase, and the noncontrolling interest holders have the right to sell (Put/call option), the remaining 10% equity interest at its appraised value ($15.9 million as of June 25, 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 10% interest, the noncontrolling interest is classified in the mezzanine section of the unaudited condensed 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 10% equity interest is not limited.

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


	Six Months Ended
	June 25, 2022		June 26, 2021
	(in thousands)
Beginning balance	$	53,010	$	25,499
Purchase of a 10% redeemable noncontrolling interest	(15,000)		—
Adjustments of noncontrolling interests to redemption values	2,293		2,341
Net income attributable to noncontrolling interests	2,487		2,599
Foreign currency translation	(2,613)		360
Ending balance	$	40,177	$	30,799

- Definition

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

+ References

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

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 25, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s effective tax rates for the three months ended June 25, 2022 and June 26, 2021 were 23.2% and 29.5%, respectively. The Company’s effective tax rates for the six months ended June 25, 2022 and June 26, 2021 were 19.2% and 20.6%, respectively. The decrease in the effective tax rates from the prior year period was primarily attributable to the deferred tax impact of tax law changes enacted during the three months ended June 26, 2021, partially offset by a decreased tax benefit from stock-based compensation deductions in the six months ended June 25, 2022. For the three months ended June 25, 2022, the Company’s unrecognized tax benefits increased by $0.3 million to $34.5 million, primarily due to increases in research & development tax credit reserves. For the three months ended June 25, 2022, the amount of unrecognized income tax benefits that would impact the effective tax rate increased by $0.1 million to $31.1 million for the same reasons discussed above. The accrued interest on unrecognized tax benefits was $0.9 million as of June 25, 2022. The Company estimates that it is reasonably possible that the unrecognized tax benefits will decrease by approximately $11.4 million over the next twelve-month period, primarily due to audit settlements and expiring statutes of limitations. 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 2018. The Company and certain of its subsidiaries have ongoing tax controversies in the U.S., Canada, France, the Netherlands, and India. The Company does not anticipate resolution of these audits will have a material impact on its consolidated 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.

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+ Details

RESTRUCTURING AND ASSET IMPAIRMENTS

6 Months Ended

Jun. 25, 2022

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND ASSET IMPAIRMENTS

In recent fiscal years, the Company has undertaken productivity improvement initiatives within all reportable segments at various locations across the U.S., Canada, and Europe. 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 within the unaudited condensed consolidated statements of income:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
					(in Thousands)
RMS	$	453	$	—	$	1,127	$	7
DSA	473		1,074		616		1,633
Manufacturing	271		535		378		869
Unallocated corporate	167		—		1,254		(151)
Total	$	1,364	$	1,609	$	3,375	$	2,358

As of June 25, 2022 and June 26, 2021, $3.3 million and $2.8 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 unaudited condensed consolidated balance sheets.

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 25, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation Various lawsuits, claims and proceedings 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.

BASIS OF PRESENTATION (Policies)	6 Months Ended
BASIS OF PRESENTATION (Policies)	Jun. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements are unaudited and have been prepared by Charles River Laboratories International, Inc. (the Company) in accordance with accounting principles generally accepted in the United States (U.S. GAAP) and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). The year-end condensed consolidated balance sheet data was derived from the Company’s audited consolidated financial statements, but does not include all disclosures required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for fiscal year 2021. The unaudited condensed consolidated financial statements, in the opinion of management, reflect all normal and recurring adjustments necessary for a fair statement of the Company’s financial position and results of operations.
Use of Estimates	The preparation of unaudited condensed consolidated financial statements in accordance with 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.
Newly Issued Accounting Pronouncements	In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” ASU 2022-03 sets disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value. The ASU also clarifies that contractual sale restrictions should not be considered when measuring fair value of equity securities. The ASU is effective for fiscal years beginning after December 15, 2023 and will be applied on a prospective basis. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements and related disclosures, but does not believe there will be a material impact. In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities About Government Assistance.” ASU 2021-10 requires disclosures about transactions with a government that have been accounted for by a grant or contribution accounting model to increase transparency about the types of transactions, the accounting for the transactions, and the effect on the financial statements. The ASU is an annual disclosure effective for fiscal years beginning after December 15, 2021 and will be applied on a prospective basis. The Company is currently evaluating the impact this new standard will have on the consolidated financial statements and related disclosures, but does not believe there will be a material impact.
Consolidation	The Company’s unaudited condensed 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.
Fiscal Period	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. A 53rd week in the fourth quarter of the fiscal year is occasionally necessary to align with a December 31 calendar year-end, which will occur in this fiscal year 2022.
Segment Reporting	The Company reports its results in three reportable segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing). The Company’s RMS reportable segment includes the Research Models, Research Model Services, and Research and GMP-Compliant Cells 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 and GMP-Compliant Cells, 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 nonregulated (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 Solutions (Biologics), which performs specialized testing of biologics (Biologics Testing Solutions) as well as contract development and manufacturing products and services (CDMO); Avian Vaccine Services (Avian), which supplies specific-pathogen-free chicken eggs and chickens.

ACQUISITIONS AND DIVESTITURES (Tables)

6 Months Ended

Jun. 25, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation and Transaction and Integration Costs

The purchase price allocation was as follows:


	Explora (1)		Vigene		Retrogenix		Cognate		Distributed Bio
	April 5, 2022		June 28, 2021		March 30, 2021		March 29, 2021		December 31, 2020
	(in thousands)
Trade receivables	$	7,679	$	3,548	$	2,266	$	18,566	$	2,722
Other current assets (excluding cash)	1,067		1,657		209		14,128		221
Property, plant and equipment	37,369		7,649		400		52,082		2,382
Operating lease right-of-use asset, net	48,613		22,507		1,385		34,349		1,586
Goodwill (2)	216,324		239,681		34,489		611,555		71,585
Definite-lived intangible assets	70,100		93,900		22,126		270,900		24,540
Other long-term assets	556		694		—		6,098		469
Deferred revenue	(3,507)		(4,260)		(434)		(20,539)		(1,319)
Other current liabilities (3)	(15,507)		(6,319)		(1,141)		(45,388)		(1,504)
Operating lease right-of-use liabilities (Long-term)	(57,193)		(21,220)		(1,205)		(31,383)		(1,123)
Deferred tax liabilities	(19,173)		(13,958)		(4,174)		(32,503)		(2,529)
Other long-term liabilities	(1,807)		—		—		—		—
Total purchase price allocation	$	284,521	$	323,879	$	53,921	$	877,865	$	97,030

(1) Purchase price allocation is preliminary and 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. 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.
(2) The goodwill resulting from these transactions is primarily attributable to the potential growth of the Company’s segments from new customers introduced to the acquired businesses and the assembled workforce of the acquirees, thus is not deductible for tax purposes. Explora BioLabs had $5.0 million of goodwill due to a prior asset acquisition that is not deductible for tax purposes.
(3) In connection with its acquisitions of businesses, the Company routinely records liabilities related to indirect state and local taxes for preacquisition periods when such liabilities are estimable and deemed probable. The Company may or may not be indemnified for such indirect tax liabilities under terms of the acquisitions. As these indirect tax contingencies are resolved, actual obligations, and any indemnifications, may differ from the recorded amounts and any differences are reflected in reported results in the period in which these are resolved. Specifically for Cognate, as of March 29, 2021, the Company recorded an estimated liability of $17 million pertaining to indirect state sales taxes. During the three months ended June 25, 2022, the Company received a favorable ruling from the applicable state in which the indirect state sales tax liability arose and, accordingly, this liability was reduced in full, resulting in a gain recorded through selling, general and administrative expenses in the period.


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Transaction and Integration Costs
Selling, general and administrative expenses	$	4,426	$	14,694	$	11,539	$	23,411

Schedule of Definite-Lived Intangible Assets Acquired as Part of Business Combination

The definite-lived intangible assets acquired were as follows:


	Explora BioLabs		Vigene		Retrogenix		Cognate		Distributed Bio
Definite-Lived Intangible Assets	(in thousands)
Client relationships	$	64,000	$	87,500	$	17,340	$	257,200	$	16,080
Other intangible assets	6,100		6,400		4,786		13,700		8,460
Total definite-lived intangible assets	$	70,100	$	93,900	$	22,126	$	270,900	$	24,540

Weighted Average Amortization Life	(in years)
Client relationships	13		12		13		13		9
Other intangible assets	4		2		3		2		4
Total definite-lived intangible assets	12		11		11		13		7

Schedule of Pro Forma Information


	June 26, 2021
	Three Months Ended		Six Months Ended
	(in thousands)
	(unaudited)
Revenue	$	923,859	$	1,782,659
Net income attributable to common shareholders	94,984		132,559

Schedule of Major Classes of Assets and Liabilities Associated with Divestitures

The carrying amounts of the major classes of assets and liabilities associated with the divestitures of the businesses were as follows:


	October 12, 2021
	RMS Japan		CDMO Sweden
	(in thousands)
Assets
Current assets	$	26,524	$	8,187
Property, plant, and equipment, net	17,379		14,339
Operating lease right-of-use assets, net	—		19,733
Goodwill	4,129		27,764
Intangible assets, net	—		14,089
Other assets	3,695		—
Total assets	$	51,727	$	84,112

Liabilities
Current liabilities	$	8,705	$	6,386
Operating lease right-of-use liabilities	—		18,221
Long-term liabilities	94		—
Total liabilities	$	8,799	$	24,607

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

6 Months Ended

Jun. 25, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Timing of Revenue Recognition:
RMS
Services and products transferred over time	$	85,803	$	66,334	$	155,727	$	131,230
Services and products transferred at a point in time	100,607		110,360		207,225		222,374
Total RMS revenue	186,410		176,694		362,952		353,604
DSA
Services and products transferred over time	589,371		539,790		1,131,707		1,040,258
Services and products transferred at a point in time	2,546		304		4,469		1,014
Total DSA revenue	591,917		540,094		1,136,176		1,041,272
Manufacturing
Services and products transferred over time	92,811		95,974		187,820		146,542
Services and products transferred at a point in time	101,993		101,845		200,112		197,755
Total Manufacturing revenue	194,804		197,819		387,932		344,297
Total revenue	$	973,131	$	914,607	$	1,887,060	$	1,739,173

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
RMS	$	186,410	$	176,694	$	362,952	$	353,604
DSA	591,917		540,094		1,136,176		1,041,272
Manufacturing	194,804		197,819		387,932		344,297
Total revenue	$	973,131	$	914,607	$	1,887,060	$	1,739,173

Revenue by geographic area is as follows:


	U.S.		Europe		Canada		Asia Pacific		Other		Consolidated
	(in thousands)
Three Months Ended:
June 25, 2022	$	566,917	$	263,584	$	93,694	$	46,239	$	2,697	$	973,131
June 26, 2021	491,619		275,706		90,565		55,133		1,584		914,607

Six Months Ended:
June 25, 2022	$	1,093,466	$	514,671	$	178,940	$	95,185	$	4,798	$	1,887,060
June 26, 2021	940,101		513,241		167,672		114,579		3,580		1,739,173

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 June 25, 2022:


	Revenue Expected to be Recognized in Future Periods
	Less than 1 Year		1 to 3 Years		4 to 5 Years		Beyond 5 Years		Total
	(in thousands)
DSA	$	499,945	$	429,944	$	52,543	$	3,083	$	985,515
Manufacturing	1,621		—		—		—		1,621
Total	$	501,566	$	429,944	$	52,543	$	3,083	$	987,136

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:


	June 25, 2022		December 25, 2021
	(in thousands)
Balances from contracts with customers:
Client receivables	$	564,719	$	489,452
Contract assets (unbilled revenue)	190,814		160,609
Contract liabilities (current and long-term deferred revenue)	262,850		240,281
Contract liabilities (customer contract deposits)	77,038		59,512

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 25, 2022

Segment Reporting [Abstract]

Schedule of Revenue and Other Financial Information by Business Segment

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
RMS
Revenue	$	186,410	$	176,694	$	362,952	$	353,604
Operating income	39,526		42,580		87,408		87,515
Depreciation and amortization	13,228		9,844		22,697		19,523
Capital expenditures	13,850		8,512		22,496		11,495
DSA
Revenue	$	591,917	$	540,094	$	1,136,176	$	1,041,272
Operating income	128,793		104,514		233,779		195,463
Depreciation and amortization	44,626		43,588		91,415		88,196
Capital expenditures	41,578		20,473		90,508		37,513
Manufacturing
Revenue	$	194,804	$	197,819	$	387,932	$	344,297
Operating income	62,503		56,717		108,871		106,154
Depreciation and amortization	18,000		13,952		36,482		20,521
Capital expenditures	24,431		13,602		47,259		20,712

Reconciliation of Segment Operating Income to Consolidated Operating Income

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				Capital Expenditures
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Three Months Ended:
Total reportable segments	$	230,822	$	203,811	$	75,854	$	67,384	$	79,859	$	42,587
Unallocated corporate	(43,411)		(66,261)		567		721		2,993		3,844
Total consolidated	$	187,411	$	137,550	$	76,421	$	68,105	$	82,852	$	46,431

Six Months Ended
Total reportable segments	$	430,058	$	389,132	$	150,594	$	128,240	$	160,263	$	69,720
Unallocated corporate	(93,869)		(127,879)		1,126		1,373		3,053		4,741
Total consolidated	$	336,189	$	261,253	$	151,720	$	129,613	$	163,316	$	74,461

Revenue Disaggregated by Products and Services and Geographic Area

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Timing of Revenue Recognition:
RMS
Services and products transferred over time	$	85,803	$	66,334	$	155,727	$	131,230
Services and products transferred at a point in time	100,607		110,360		207,225		222,374
Total RMS revenue	186,410		176,694		362,952		353,604
DSA
Services and products transferred over time	589,371		539,790		1,131,707		1,040,258
Services and products transferred at a point in time	2,546		304		4,469		1,014
Total DSA revenue	591,917		540,094		1,136,176		1,041,272
Manufacturing
Services and products transferred over time	92,811		95,974		187,820		146,542
Services and products transferred at a point in time	101,993		101,845		200,112		197,755
Total Manufacturing revenue	194,804		197,819		387,932		344,297
Total revenue	$	973,131	$	914,607	$	1,887,060	$	1,739,173

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
RMS	$	186,410	$	176,694	$	362,952	$	353,604
DSA	591,917		540,094		1,136,176		1,041,272
Manufacturing	194,804		197,819		387,932		344,297
Total revenue	$	973,131	$	914,607	$	1,887,060	$	1,739,173

Revenue by geographic area is as follows:


	U.S.		Europe		Canada		Asia Pacific		Other		Consolidated
	(in thousands)
Three Months Ended:
June 25, 2022	$	566,917	$	263,584	$	93,694	$	46,239	$	2,697	$	973,131
June 26, 2021	491,619		275,706		90,565		55,133		1,584		914,607

Six Months Ended:
June 25, 2022	$	1,093,466	$	514,671	$	178,940	$	95,185	$	4,798	$	1,887,060
June 26, 2021	940,101		513,241		167,672		114,579		3,580		1,739,173

Summary of Unallocated Corporate Overhead

A summary of unallocated corporate expense consists of the following:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Stock-based compensation	$	8,531	$	10,417	$	17,034	$	18,059
Compensation, benefits, and other employee-related expenses	20,507		25,924		49,143		53,286
External consulting and other service expenses	4,727		6,301		9,046		13,657
Information technology	3,079		4,117		5,553		8,212
Depreciation	567		721		1,126		1,373
Acquisition and integration	3,014		15,036		8,840		25,596
Other general unallocated corporate	2,986		3,745		3,127		7,696
Total unallocated corporate expense	$	43,411	$	66,261	$	93,869	$	127,879

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)

6 Months Ended

Jun. 25, 2022

Supplemental Balance Sheet Information [Abstract]

Composition of Net Trade Receivables

The composition of trade receivables and contract assets, net is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Client receivables	$	564,719	$	489,452
Unbilled revenue	190,814		160,609
Total	755,533		650,061
Less: Allowance for credit losses	(7,928)		(7,180)
Trade receivables and contract assets, net	$	747,605	$	642,881

Composition of Inventories

The composition of inventories is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Raw materials and supplies	$	37,237	$	33,118
Work in process	43,615		40,268
Finished products	175,913		125,760
Inventories	$	256,765	$	199,146

Composition of Other Current Assets

The composition of other current assets is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Prepaid income tax	$	92,909	$	84,725
Short-term investments	1,012		1,063
Restricted cash	5,797		4,023
Other receivables	7,738		7,500
Other current assets	$	107,456	$	97,311

Composition of Other Assets

The composition of other assets is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Venture capital investments	$	127,864	$	149,640
Strategic equity investments	151,207		51,712
Life insurance policies	42,116		51,048
Other long-term income tax assets	16,412		18,690
Restricted cash	1,090		1,077
Long-term pension assets	37,357		39,582
Other	59,589		41,140
Other assets	$	435,635	$	352,889

Composition of Other Current Liabilities

The composition of other current liabilities is as follows:


	June 25, 2022		December 25, 2021
	(in thousands)
Current portion of operating lease right-of-use liabilities	$	48,937	$	33,267
Accrued income taxes	46,226		26,161
Customer contract deposits	77,038		59,512
Other	17,909		18,701
Other current liabilities	$	190,110	$	137,641

Composition of Other Long-Term Liabilities

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


	June 25, 2022		December 25, 2021
	(in thousands)
U.S. Transition Tax	$	32,324	$	43,057
Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plans	103,245		104,944
Long-term deferred revenue	20,766		20,578
Other	38,740		74,280
Other long-term liabilities	$	195,075	$	242,859

FAIR VALUE (Tables)

6 Months Ended

Jun. 25, 2022

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

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


	June 25, 2022
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	77	$	—	$	77
Other assets:
Life insurance policies	—		34,882		—		34,882
Total assets measured at fair value	$	—	$	34,959	$	—	$	34,959

Accrued liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	9,550	$	9,550


Total liabilities measured at fair value	$	—	$	—	$	9,550	$	9,550


	December 25, 2021
	Level 1		Level 2		Level 3		Total
Current assets measured at fair value:	(in thousands)
Cash equivalents	$	—	$	893	$	—	$	893
Other assets:
Life insurance policies	—		42,918		—		42,918
Total assets measured at fair value	$	—	$	43,811	$	—	$	43,811

Accrued liabilities measured at fair value:
Contingent consideration	$	—	$	—	$	11,794	$	11,794
Other long-term liabilities measured at fair value:
Contingent consideration	—		—		25,450		25,450
Total liabilities measured at fair value	$	—	$	—	$	37,244	$	37,244

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


	June 25, 2022				December 25, 2021
	Book Value		Fair Value		Book Value		Fair Value
4.25% Senior Notes due 2028	$	500,000	$	453,100	$	500,000	$	521,250
3.75% Senior Notes due 2029	500,000		437,500		500,000		506,700
4.0% Senior Notes due 2031	500,000		438,100		500,000		507,500

Rollforward of Contingent Consideration Related to Previous Acquisitions

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


	Six Months Ended
	June 25, 2022		June 26, 2021
	(in thousands)
Beginning balance	$	37,244	$	2,328
Additions	—		37,983
Payments	(11,476)		(2,889)
Total gains or losses (realized/unrealized):
Adjustment of previously recorded contingent liability	(15,340)		—
Foreign currency translation	(878)		(115)
Ending balance	$	9,550	$	37,307

GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 25, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

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


			Adjustments to Goodwill
	December 25, 2021		Acquisition Related		Foreign Exchange		June 25, 2022
	(in thousands)
RMS	$	283,524	$	216,324	$	(1,152)	$	498,696
DSA	1,472,506		—		(36,509)		1,435,997
Manufacturing	955,851		(592)		(29,694)		925,565
Goodwill	$	2,711,881	$	215,732	$	(67,355)	$	2,860,258

Schedule of Intangible Assets

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


	June 25, 2022						December 25, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Backlog	$	15,295	$	(11,862)	$	3,433	$	12,577	$	(9,517)	$	3,060
Technology	130,236		(98,132)		32,104		135,764		(95,454)		40,310
Trademarks and trade names	12,680		(3,982)		8,698		13,086		(3,448)		9,638
Other	38,153		(15,222)		22,931		35,231		(8,445)		26,786
Other intangible assets	196,364		(129,198)		67,166		196,658		(116,864)		79,794
Client relationships	1,504,441		(539,235)		965,206		1,475,757		(494,359)		981,398
Intangible assets	$	1,700,805	$	(668,433)	$	1,032,372	$	1,672,415	$	(611,223)	$	1,061,192

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

6 Months Ended

Jun. 25, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt and Finance Lease Obligations

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


	June 25, 2022		December 25, 2021
	(in thousands)

Revolving facility	$	1,486,976	$	1,161,431
4.25% Senior Notes due 2028	500,000		500,000
3.75% Senior Notes due 2029	500,000		500,000
4.00% Senior Notes due 2031	500,000		500,000
Other debt	350		368
Finance leases	32,961		27,223
Total debt and finance leases	3,020,287		2,689,022
Less:
Current portion of long-term debt	95		101
Current portion of finance leases	2,269		2,694
Current portion of long-term debt and finance leases	2,364		2,795
Long-term debt and finance leases	3,017,923		2,686,227
Debt discount and debt issuance costs	(20,702)		(22,663)
Long-term debt, net and finance leases	$	2,997,221	$	2,663,564

Schedule of Cross Currency Loans

The gains and losses incurred on these transactions were as follows:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021		Affected Line Item in the Consolidated Statements of Income
	(in thousands)
Gain (loss) on foreign debt remeasurement	$	(19,423)	$	(4,907)	$	(30,523)	$	(18,263)	Other (expense) income
Gain (loss) on foreign exchange forward contract	20,522		5,355		32,306		19,332		Interest expense

EQUITY AND NONCONTROLLING INTERESTS (Tables)

6 Months Ended

Jun. 25, 2022

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:


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
	(in thousands)
Numerator:
Net income	$	110,664	$	89,916	$	205,890	$	153,851
Less: Net income attributable to noncontrolling interests	1,343		1,468		3,547		3,873
Net income attributable to common shareholders	$	109,321	$	88,448	$	202,343	$	149,978

Denominator:
Weighted-average shares outstanding - Basic	50,823		50,297		50,732		50,138
Effect of dilutive securities:
Stock options, restricted stock units and performance share units	460		1,037		561		1,087
Weighted-average shares outstanding - Diluted	51,283		51,334		51,293		51,225

Anti-dilutive common stock equivalents(1)	597		159		550		159

(1) These common stock equivalents were outstanding for the periods presented, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect.

Schedule of 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 25, 2021	$	(98,173)	$	(66,567)	$	(164,740)
Other comprehensive loss before reclassifications	(104,196)		—		(104,196)
Amounts reclassified from accumulated other comprehensive income	—		1,487		1,487
Net current period other comprehensive (loss) income	(104,196)		1,487		(102,709)
Income tax (benefit) expense	(9,264)		370		(8,894)
June 25, 2022	$	(193,105)	$	(65,450)	$	(258,555)

Rollforward Redeemable Noncontrolling Interest

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


	Six Months Ended
	June 25, 2022		June 26, 2021
	(in thousands)
Beginning balance	$	53,010	$	25,499
Purchase of a 10% redeemable noncontrolling interest	(15,000)		—
Adjustments of noncontrolling interests to redemption values	2,293		2,341
Net income attributable to noncontrolling interests	2,487		2,599
Foreign currency translation	(2,613)		360
Ending balance	$	40,177	$	30,799

RESTRUCTURING AND ASSET IMPAIRMENTS (Tables)

6 Months Ended

Jun. 25, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs

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


	Three Months Ended				Six Months Ended
	June 25, 2022		June 26, 2021		June 25, 2022		June 26, 2021
					(in Thousands)
RMS	$	453	$	—	$	1,127	$	7
DSA	473		1,074		616		1,633
Manufacturing	271		535		378		869
Unallocated corporate	167		—		1,254		(151)
Total	$	1,364	$	1,609	$	3,375	$	2,358

BASIS OF PRESENTATION (Details)	6 Months Ended
BASIS OF PRESENTATION (Details)	Jun. 25, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

ACQUISITIONS AND DIVESTITURES - Narrative (Details) - USD ($) $ in Thousands								3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 05, 2022	Oct. 12, 2021	Jun. 28, 2021	Mar. 30, 2021	Mar. 29, 2021	Mar. 03, 2021	Dec. 31, 2020	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021	Dec. 26, 2020	Dec. 25, 2021
Business Acquisition [Line Items]
Selling, general and administrative expenses								$ 4,426	$ 14,694	$ 11,539	$ 23,411
Goodwill								2,860,258		2,860,258			$ 2,711,881
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| RMS Japan
Business Acquisition [Line Items]
Consideration received from divestiture		$ 70,600
Cash proceeds from divestiture		7,900
Pension over funding and other post-closing adjustments		3,800
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| CDMO Sweden
Business Acquisition [Line Items]
Consideration received from divestiture		59,600
Cash proceeds from divestiture		200
Contingent consideration		15,300
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| CDMO Sweden \| Maximum
Business Acquisition [Line Items]
Contingent consideration		25,000
Purchase obligation		$ 10,000
Explora
Business Acquisition [Line Items]
Cash acquired	$ 6,600
Goodwill	216,324
Definite-lived intangible assets	$ 70,100
Weighted average amortization life of intangible assets acquired	12 years
Property, plant and equipment	$ 37,369
Vigene Biosciences, Inc.
Business Acquisition [Line Items]
Purchase price			$ 323,900
Cash acquired			2,700
Contingent consideration liability			34,500					0		0
Goodwill			239,681
Definite-lived intangible assets			$ 93,900
Weighted average amortization life of intangible assets acquired			11 years
Property, plant and equipment			$ 7,649
Vigene Biosciences, Inc. \| Maximum
Business Acquisition [Line Items]
Consideration contingent upon future performance			$ 57,500
Retrogenix Limited
Business Acquisition [Line Items]
Purchase price				$ 53,900
Cash acquired				8,500
Contingent consideration liability				6,900
Goodwill				34,489
Definite-lived intangible assets				$ 22,126
Weighted average amortization life of intangible assets acquired				11 years
Property, plant and equipment				$ 400
Cognate BioServices, Inc.
Business Acquisition [Line Items]
Purchase price					$ 877,900
Cash acquired					70,500
Value of consideration not acquired					$ 15,700
Ownership percentage not acquired					2.00%
Goodwill					$ 611,555
Definite-lived intangible assets					$ 270,900
Weighted average amortization life of intangible assets acquired					13 years
Property, plant and equipment					$ 52,082
Distributed Bio, Inc.
Business Acquisition [Line Items]
Purchase price							$ 97,000
Cash acquired							800
Contingent consideration liability							14,100
Payments for contingent considerations								7,000
Cash portion of consideration transferred							80,800
Payments to settle promissory note							3,000
Goodwill							71,585
Definite-lived intangible assets							$ 24,540
Weighted average amortization life of intangible assets acquired							7 years
Property, plant and equipment							$ 2,382
Distributed Bio, Inc. \| Maximum
Business Acquisition [Line Items]
Consideration contingent upon future performance							$ 21,000
Other Acquisitions
Business Acquisition [Line Items]
Purchase price						$ 35,400
Contingent consideration liability						15,900		$ 0		$ 0
Cash portion of consideration transferred						19,500						$ 5,500
Goodwill						17,300
Definite-lived intangible assets						$ 15,200
Weighted average amortization life of intangible assets acquired						4 years
Property, plant and equipment						$ 3,000
Other Acquisitions \| Maximum
Business Acquisition [Line Items]
Consideration contingent upon future performance						$ 17,500
Cognate BioServices, Inc. and Viegene Biosciences, Inc. \| Depreciation and Amortization Expense
Business Acquisition [Line Items]
Adjustments related to prior period									4,000		13,300
Cognate BioServices, Inc. and Viegene Biosciences, Inc. \| Interest expense
Business Acquisition [Line Items]
Adjustments related to prior period									$ 2,200		$ 5,600

ACQUISITIONS AND DIVESTITURES - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jun. 25, 2022	Apr. 05, 2022	Dec. 25, 2021	Jun. 28, 2021	Mar. 30, 2021	Mar. 29, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 2,860,258		$ 2,711,881
Explora
Business Acquisition [Line Items]
Trade receivables		$ 7,679
Other current assets (excluding cash)		1,067
Property, plant and equipment		37,369
Operating lease right-of-use assets, net		48,613
Goodwill		216,324
Definite-lived intangible assets		70,100
Other long-term assets		556
Deferred revenue		(3,507)
Other current liabilities		(15,507)
Operating lease right-of-use liabilities (Long-term)		(57,193)
Deferred tax liabilities		(19,173)
Other long-term liabilities		(1,807)
Total purchase price allocation		284,521
Goodwill acquired but not deductible for tax purposes		$ 5,000
Vigene
Business Acquisition [Line Items]
Trade receivables				$ 3,548
Other current assets (excluding cash)				1,657
Property, plant and equipment				7,649
Operating lease right-of-use assets, net				22,507
Goodwill				239,681
Definite-lived intangible assets				93,900
Other long-term assets				694
Deferred revenue				(4,260)
Other current liabilities				(6,319)
Operating lease right-of-use liabilities (Long-term)				(21,220)
Deferred tax liabilities				(13,958)
Other long-term liabilities				0
Total purchase price allocation				$ 323,879
Retrogenix
Business Acquisition [Line Items]
Trade receivables					$ 2,266
Other current assets (excluding cash)					209
Property, plant and equipment					400
Operating lease right-of-use assets, net					1,385
Goodwill					34,489
Definite-lived intangible assets					22,126
Other long-term assets					0
Deferred revenue					(434)
Other current liabilities					(1,141)
Operating lease right-of-use liabilities (Long-term)					(1,205)
Deferred tax liabilities					(4,174)
Other long-term liabilities					0
Total purchase price allocation					$ 53,921
Cognate
Business Acquisition [Line Items]
Trade receivables						$ 18,566
Other current assets (excluding cash)						14,128
Property, plant and equipment						52,082
Operating lease right-of-use assets, net						34,349
Goodwill						611,555
Definite-lived intangible assets						270,900
Other long-term assets						6,098
Deferred revenue						(20,539)
Other current liabilities						(45,388)
Operating lease right-of-use liabilities (Long-term)						(31,383)
Deferred tax liabilities						(32,503)
Other long-term liabilities						0
Total purchase price allocation						877,865
Estimated tax liability						$ 17,000
Distributed Bio
Business Acquisition [Line Items]
Trade receivables							$ 2,722
Other current assets (excluding cash)							221
Property, plant and equipment							2,382
Operating lease right-of-use assets, net							1,586
Goodwill							71,585
Definite-lived intangible assets							24,540
Other long-term assets							469
Deferred revenue							(1,319)
Other current liabilities							(1,504)
Operating lease right-of-use liabilities (Long-term)							(1,123)
Deferred tax liabilities							(2,529)
Other long-term liabilities							0
Total purchase price allocation							$ 97,030

ACQUISITIONS AND DIVESTITURES - Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 05, 2022	Jun. 28, 2021	Mar. 30, 2021	Mar. 29, 2021	Dec. 31, 2020
Explora
Business Acquisition [Line Items]
Definite-Lived Intangible Assets	$ 70,100
Weighted Average Amortization Life	12 years
Vigene
Business Acquisition [Line Items]
Definite-Lived Intangible Assets		$ 93,900
Weighted Average Amortization Life		11 years
Retrogenix
Business Acquisition [Line Items]
Definite-Lived Intangible Assets			$ 22,126
Weighted Average Amortization Life			11 years
Cognate
Business Acquisition [Line Items]
Definite-Lived Intangible Assets				$ 270,900
Weighted Average Amortization Life				13 years
Distributed Bio
Business Acquisition [Line Items]
Definite-Lived Intangible Assets					$ 24,540
Weighted Average Amortization Life					7 years
Client relationships \| Explora
Business Acquisition [Line Items]
Definite-Lived Intangible Assets	$ 64,000
Weighted Average Amortization Life	13 years
Client relationships \| Vigene
Business Acquisition [Line Items]
Definite-Lived Intangible Assets		$ 87,500
Weighted Average Amortization Life		12 years
Client relationships \| Retrogenix
Business Acquisition [Line Items]
Definite-Lived Intangible Assets			$ 17,340
Weighted Average Amortization Life			13 years
Client relationships \| Cognate
Business Acquisition [Line Items]
Definite-Lived Intangible Assets				$ 257,200
Weighted Average Amortization Life				13 years
Client relationships \| Distributed Bio
Business Acquisition [Line Items]
Definite-Lived Intangible Assets					$ 16,080
Weighted Average Amortization Life					9 years
Other intangible assets \| Explora
Business Acquisition [Line Items]
Definite-Lived Intangible Assets	$ 6,100
Weighted Average Amortization Life	4 years
Other intangible assets \| Vigene
Business Acquisition [Line Items]
Definite-Lived Intangible Assets		$ 6,400
Weighted Average Amortization Life		2 years
Other intangible assets \| Retrogenix
Business Acquisition [Line Items]
Definite-Lived Intangible Assets			$ 4,786
Weighted Average Amortization Life			3 years
Other intangible assets \| Cognate
Business Acquisition [Line Items]
Definite-Lived Intangible Assets				$ 13,700
Weighted Average Amortization Life				2 years
Other intangible assets \| Distributed Bio
Business Acquisition [Line Items]
Definite-Lived Intangible Assets					$ 8,460
Weighted Average Amortization Life					4 years

ACQUISITIONS AND DIVESTITURES - Pro Forma Information (Details) - Cognate BioServices, Inc. and Viegene Biosciences, Inc. - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 26, 2021	Jun. 26, 2021
Business Acquisition [Line Items]
Revenue	$ 923,859	$ 1,782,659
Net income attributable to common shareholders	$ 94,984	$ 132,559

ACQUISITIONS AND DIVESTITURES - Schedule of Divestitures (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations $ in Thousands	Oct. 12, 2021 USD ($)
RMS Japan
Assets
Current assets	$ 26,524
Property, plant, and equipment, net	17,379
Operating lease right-of-use assets, net	0
Goodwill	4,129
Intangible assets, net	0
Other assets	3,695
Total assets	51,727
Liabilities
Current liabilities	8,705
Operating lease right-of-use liabilities	0
Long-term liabilities	94
Total liabilities	8,799
CDMO Sweden
Assets
Current assets	8,187
Property, plant, and equipment, net	14,339
Operating lease right-of-use assets, net	19,733
Goodwill	27,764
Intangible assets, net	14,089
Other assets	0
Total assets	84,112
Liabilities
Current liabilities	6,386
Operating lease right-of-use liabilities	18,221
Long-term liabilities	0
Total liabilities	$ 24,607

ACQUISITIONS AND DIVESTITURES - Transaction and Integration Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Business Combination and Asset Acquisition [Abstract]
Selling, general and administrative expenses	$ 4,426	$ 14,694	$ 11,539	$ 23,411

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregation of Revenues by Major Business Line (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 973,131	$ 914,607	$ 1,887,060	$ 1,739,173
RMS
Disaggregation of Revenue [Line Items]
Total revenue	186,410	176,694	362,952	353,604
RMS \| Services and products transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	85,803	66,334	155,727	131,230
RMS \| Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	100,607	110,360	207,225	222,374
DSA
Disaggregation of Revenue [Line Items]
Total revenue	591,917	540,094	1,136,176	1,041,272
DSA \| Services and products transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	589,371	539,790	1,131,707	1,040,258
DSA \| Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	2,546	304	4,469	1,014
Manufacturing
Disaggregation of Revenue [Line Items]
Total revenue	194,804	197,819	387,932	344,297
Manufacturing \| Services and products transferred over time
Disaggregation of Revenue [Line Items]
Total revenue	92,811	95,974	187,820	146,542
Manufacturing \| Services and products transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenue	$ 101,993	$ 101,845	$ 200,112	$ 197,755

- 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
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021	Dec. 25, 2021
Revenue from Contract with Customer [Abstract]
Payment terms			30 days
Unpaid advanced client billings	$ 49,000		$ 49,000		$ 36,000
Contract liabilities (customer contract deposits)	77,038		$ 77,038		$ 59,512
Percentage of unbilled revenue billed during period			75.00%	80.00%
Amount of unbilled revenue billed during period			$ 161,000	$ 135,000
Percentage of contract liabilities recognized as revenue during period			75.00%	75.00%
Amount of contract liabilities recognized as revenue			$ 240,000	$ 227,000
Lease revenue	$ 13,900	$ 6,300	$ 21,800	$ 6,300

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Client Receivables, Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Revenue from Contract with Customer [Abstract]
Client receivables	$ 564,719	$ 489,452
Contract assets (unbilled revenue)	190,814	160,609
Contract liabilities (current and long-term deferred revenue)	262,850	240,281
Contract liabilities (customer contract deposits)	$ 77,038	$ 59,512

SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Jun. 25, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	3

SEGMENT INFORMATION - Revenue and Other Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Segment Reporting Information [Line Items]
Revenue	$ 973,131	$ 914,607	$ 1,887,060	$ 1,739,173
Operating income	187,411	137,550	336,189	261,253
Depreciation and amortization	76,421	68,105	151,720	129,613
Capital expenditures	82,852	46,431	163,316	74,461
RMS
Segment Reporting Information [Line Items]
Revenue	186,410	176,694	362,952	353,604
Operating income	39,526	42,580	87,408	87,515
Depreciation and amortization	13,228	9,844	22,697	19,523
Capital expenditures	13,850	8,512	22,496	11,495
DSA
Segment Reporting Information [Line Items]
Revenue	591,917	540,094	1,136,176	1,041,272
Operating income	128,793	104,514	233,779	195,463
Depreciation and amortization	44,626	43,588	91,415	88,196
Capital expenditures	41,578	20,473	90,508	37,513
Manufacturing
Segment Reporting Information [Line Items]
Revenue	194,804	197,819	387,932	344,297
Operating income	62,503	56,717	108,871	106,154
Depreciation and amortization	18,000	13,952	36,482	20,521
Capital expenditures	$ 24,431	$ 13,602	$ 47,259	$ 20,712

- Definition

+ References

+ Details

SEGMENT INFORMATION - Reconciliation of Segment Operating Income, Depreciation and Amortization, and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Segment Reporting Information [Line Items]
Operating income	$ 187,411	$ 137,550	$ 336,189	$ 261,253
Depreciation and amortization	76,421	68,105	151,720	129,613
Capital expenditures	82,852	46,431	163,316	74,461
Total reportable segments
Segment Reporting Information [Line Items]
Operating income	230,822	203,811	430,058	389,132
Depreciation and amortization	75,854	67,384	150,594	128,240
Capital expenditures	79,859	42,587	160,263	69,720
Unallocated corporate
Segment Reporting Information [Line Items]
Operating income	(43,411)	(66,261)	(93,869)	(127,879)
Depreciation and amortization	567	721	1,126	1,373
Capital expenditures	$ 2,993	$ 3,844	$ 3,053	$ 4,741

SEGMENT INFORMATION - Revenue Per Significant Product or Service (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 973,131	$ 914,607	$ 1,887,060	$ 1,739,173
RMS
Segment Reporting Information [Line Items]
Total revenue	186,410	176,694	362,952	353,604
DSA
Segment Reporting Information [Line Items]
Total revenue	591,917	540,094	1,136,176	1,041,272
Manufacturing
Segment Reporting Information [Line Items]
Total revenue	$ 194,804	$ 197,819	$ 387,932	$ 344,297

- Definition

+ References

+ Details

SEGMENT INFORMATION - Summary of Unallocated Corporate Overhead (Details) - Unallocated corporate - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Segment Reporting Information [Line Items]
Stock-based compensation	$ 8,531	$ 10,417	$ 17,034	$ 18,059
Compensation, benefits, and other employee-related expenses	20,507	25,924	49,143	53,286
External consulting and other service expenses	4,727	6,301	9,046	13,657
Information technology	3,079	4,117	5,553	8,212
Depreciation	567	721	1,126	1,373
Acquisition and integration	3,014	15,036	8,840	25,596
Other general unallocated corporate	2,986	3,745	3,127	7,696
Total unallocated corporate expense	$ 43,411	$ 66,261	$ 93,869	$ 127,879

SEGMENT INFORMATION - Disaggregation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 973,131	$ 914,607	$ 1,887,060	$ 1,739,173
U.S.
Disaggregation of Revenue [Line Items]
Total revenue	566,917	491,619	1,093,466	940,101
Europe
Disaggregation of Revenue [Line Items]
Total revenue	263,584	275,706	514,671	513,241
Canada
Disaggregation of Revenue [Line Items]
Total revenue	93,694	90,565	178,940	167,672
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	46,239	55,133	95,185	114,579
Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,697	$ 1,584	$ 4,798	$ 3,580

- Definition

+ References

+ Details

SUPPLEMENTAL BALANCE SHEET INFORMATION (Details) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Composition of trade receivables
Client receivables	$ 564,719	$ 489,452
Unbilled revenue	190,814	160,609
Total	755,533	650,061
Less: Allowance for credit losses	(7,928)	(7,180)
Trade receivables and contract assets, net	747,605	642,881
Composition of inventories
Raw materials and supplies	37,237	33,118
Work in process	43,615	40,268
Finished products	175,913	125,760
Inventories	256,765	199,146
Composition of other current assets
Prepaid income tax	92,909	84,725
Short-term investments	1,012	1,063
Restricted cash	5,797	4,023
Other receivables	7,738	7,500
Other current assets	107,456	97,311
Composition of other assets
Venture capital investments	127,864	149,640
Strategic equity investments	151,207	51,712
Life insurance policies	42,116	51,048
Other long-term income tax assets	16,412	18,690
Restricted cash	1,090	1,077
Long-term pension assets	37,357	39,582
Other	59,589	41,140
Other assets	435,635	352,889
Composition of other current liabilities
Current portion of operating lease right-of-use liabilities	48,937	33,267
Accrued income taxes	46,226	26,161
Customer contract deposits	77,038	59,512
Other	17,909	18,701
Other current liabilities	190,110	137,641
Composition of other long-term liabilities
U.S. Transition Tax	32,324	43,057
Long-term pension liability, accrued executive supplemental life insurance retirement plan and deferred compensation plans	103,245	104,944
Long-term deferred revenue	20,766	20,578
Other	38,740	74,280
Other long-term liabilities	$ 195,075	$ 242,859

VENTURE CAPITAL AND STRATEGIC EQUITY INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2022	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021	Dec. 25, 2021
Schedule of Equity Method Investments [Line Items]
Venture capital investments		$ 127,864		$ 127,864		$ 149,640
Committed contribution		192,700		192,700
Amount funded for venture capital investments		119,700		119,700
Distributions received		2,700	$ 18,200	4,000	$ 27,500
Gains (losses) recognized related to venture capital investments		(9,700)	$ 11,100	(23,100)	$ (5,300)
Strategic equity investments		151,207		151,207		$ 51,712
Payments to acquire strategic investments				12,200
Commitment to purchase additional interest in existing strategic investments		25,000		25,000
DSA Supplier
Schedule of Equity Method Investments [Line Items]
Ownership percentage	49.00%
Payments to acquire interest in investee	$ 90,000
Contingent payments	$ 5,000
Allocable basis of investment in excess of proportional interest in underlying net assets		86,700		86,700
DSA Supplier \| Deferred Tax Liability
Schedule of Equity Method Investments [Line Items]
Allocable basis of investment in excess of proportional interest in underlying net assets		10,700		10,700
DSA Supplier \| Goodwill
Schedule of Equity Method Investments [Line Items]
Allocable basis of investment in excess of proportional interest in underlying net assets		26,200		26,200
DSA Supplier \| Intangible Assets
Schedule of Equity Method Investments [Line Items]
Allocable basis of investment in excess of proportional interest in underlying net assets		$ 71,200		$ 71,200

FAIR VALUE - Fair Value of Assets and Liabilities (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Current assets measured at fair value:
Cash equivalents	$ 77	$ 893
Other assets:
Life insurance policies	34,882	42,918
Total assets measured at fair value	34,959	43,811
Accrued liabilities measured at fair value:
Contingent consideration	9,550	11,794
Other long-term liabilities measured at fair value:
Contingent consideration		25,450
Total liabilities measured at fair value	9,550	37,244
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
Accrued liabilities measured at fair value:
Contingent consideration	0	0
Other long-term liabilities measured at fair value:
Contingent consideration		0
Total liabilities measured at fair value	0	0
Level 2
Current assets measured at fair value:
Cash equivalents	77	893
Other assets:
Life insurance policies	34,882	42,918
Total assets measured at fair value	34,959	43,811
Accrued liabilities measured at fair value:
Contingent consideration	0	0
Other long-term liabilities measured at fair value:
Contingent consideration		0
Total liabilities measured at fair value	0	0
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
Accrued liabilities measured at fair value:
Contingent consideration	9,550	11,794
Other long-term liabilities measured at fair value:
Contingent consideration		25,450
Total liabilities measured at fair value	$ 9,550	$ 37,244

FAIR VALUE - Contingent Consideration (Details) - Contingent Consideration - Level 3 - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 37,244	$ 2,328
Additions	0	37,983
Payments	(11,476)	(2,889)
Adjustment of previously recorded contingent liability	(15,340)	0
Foreign currency translation	(878)	(115)
Ending balance	$ 9,550	$ 37,307

FAIR VALUE - Narrative (Details) - Level 3 - Contingent Consideration - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021	Jun. 26, 2021	Dec. 26, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration	$ 9,550	$ 37,244	$ 37,307	$ 2,328
Weighted average probability percentage of achieving maximum target	18.00%
Average Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.40
Weighted Average Cost of Capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, measurement input	0.16
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration	$ 53,000

FAIR VALUE - Schedule of Fair Value of Debt (Details) - Senior Notes - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
4.25% Senior Notes due 2028
Debt Instrument [Line Items]
Stated interest rate	4.25%	4.25%
4.25% Senior Notes due 2028 \| Book Value
Debt Instrument [Line Items]
Debt instrument value	$ 500,000	$ 500,000
4.25% Senior Notes due 2028 \| Fair Value
Debt Instrument [Line Items]
Debt instrument value	$ 453,100	$ 521,250
3.75% Senior Notes due 2029
Debt Instrument [Line Items]
Stated interest rate	3.75%	3.75%
3.75% Senior Notes due 2029 \| Book Value
Debt Instrument [Line Items]
Debt instrument value	$ 500,000	$ 500,000
3.75% Senior Notes due 2029 \| Fair Value
Debt Instrument [Line Items]
Debt instrument value	$ 437,500	$ 506,700
4.00% Senior Notes due 2031
Debt Instrument [Line Items]
Stated interest rate	4.00%	4.00%
4.00% Senior Notes due 2031 \| Book Value
Debt Instrument [Line Items]
Debt instrument value	$ 500,000	$ 500,000
4.00% Senior Notes due 2031 \| Fair Value
Debt Instrument [Line Items]
Debt instrument value	$ 438,100	$ 507,500

GOODWILL AND INTANGIBLE ASSETS - Rollforward of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 25, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 2,711,881
Acquisition Related	215,732
Foreign Exchange	(67,355)
Ending balance	2,860,258
RMS
Goodwill [Roll Forward]
Beginning balance	283,524
Acquisition Related	216,324
Foreign Exchange	(1,152)
Ending balance	498,696
DSA
Goodwill [Roll Forward]
Beginning balance	1,472,506
Acquisition Related	0
Foreign Exchange	(36,509)
Ending balance	1,435,997
Manufacturing
Goodwill [Roll Forward]
Beginning balance	955,851
Acquisition Related	(592)
Foreign Exchange	(29,694)
Ending balance	$ 925,565

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Other intangible assets
Gross	$ 1,700,805	$ 1,672,415
Accumulated Amortization	(668,433)	(611,223)
Net	1,032,372	1,061,192
Backlog
Other intangible assets
Gross	15,295	12,577
Accumulated Amortization	(11,862)	(9,517)
Net	3,433	3,060
Technology
Other intangible assets
Gross	130,236	135,764
Accumulated Amortization	(98,132)	(95,454)
Net	32,104	40,310
Trademarks and trade names
Other intangible assets
Gross	12,680	13,086
Accumulated Amortization	(3,982)	(3,448)
Net	8,698	9,638
Other
Other intangible assets
Gross	38,153	35,231
Accumulated Amortization	(15,222)	(8,445)
Net	22,931	26,786
Other intangible assets
Other intangible assets
Gross	196,364	196,658
Accumulated Amortization	(129,198)	(116,864)
Net	67,166	79,794
Client relationships
Other intangible assets
Gross	1,504,441	1,475,757
Accumulated Amortization	(539,235)	(494,359)
Net	$ 965,206	$ 981,398

DEBT AND OTHER FINANCING ARRANGEMENTS - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 25, 2022	Dec. 25, 2021
Debt Instrument [Line Items]
Finance leases	$ 32,961	$ 27,223
Total debt and finance leases	3,020,287	2,689,022
Current portion of long-term debt	95	101
Current portion of finance leases	2,269	2,694
Current portion of long-term debt and finance leases	2,364	2,795
Long-term debt and finance leases	3,017,923	2,686,227
Debt discount and debt issuance costs	(20,702)	(22,663)
Long-term debt, net and finance leases	2,997,221	2,663,564
Revolving Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,486,976	$ 1,161,431
Senior Notes \| 4.25% Senior Notes due 2028
Debt Instrument [Line Items]
Stated interest rate	4.25%	4.25%
Long-term debt, gross	$ 500,000	$ 500,000
Senior Notes \| 3.75% Senior Notes due 2029
Debt Instrument [Line Items]
Stated interest rate	3.75%	3.75%
Long-term debt, gross	$ 500,000	$ 500,000
Senior Notes \| 4.00% Senior Notes due 2031
Debt Instrument [Line Items]
Stated interest rate	4.00%	4.00%
Long-term debt, gross	$ 500,000	$ 500,000
Other Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 350	$ 368

DEBT AND OTHER FINANCING ARRANGEMENTS - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Dec. 25, 2021
Debt Instrument [Line Items]
Weighted average interest rate	3.15%		2.78%
Loss on debt extinguishment and other financing costs	$ 1,987	$ 27,980
Deferred financing costs expensed	0	38,166
Foreign Exchange Forward
Debt Instrument [Line Items]
Notional amount	400,000	400,000
Senior Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Prepayments of long-term debt		500,000
Loss on debt extinguishment and other financing costs		21,000
Payments for accrued interest		13,000
Deferred financing costs expensed		$ 5,000
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding	$ 17,700		$ 17,700

DEBT AND OTHER FINANCING ARRANGEMENTS - Cross Currency Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Derivatives, Fair Value [Line Items]
Interest Expense	$ (3,703)	$ (16,190)	$ (13,137)	$ (45,909)
Foreign Exchange Forward \| Other (expense) income
Derivatives, Fair Value [Line Items]
Gains recognized in interest expense	(19,423)	(4,907)	(30,523)	(18,263)
Foreign Exchange Forward \| Interest expense
Derivatives, Fair Value [Line Items]
Gains recognized in interest expense	$ 20,522	$ 5,355	$ 32,306	$ 19,332

EQUITY AND NONCONTROLLING INTERESTS - Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Numerator:
Net income	$ 110,664	$ 89,916	$ 205,890	$ 153,851
Less: Net income attributable to noncontrolling interests	1,343	1,468	3,547	3,873
Net income attributable to common shareholders	$ 109,321	$ 88,448	$ 202,343	$ 149,978
Denominator:
Weighted-average shares outstanding—Basic (in shares)	50,823	50,297	50,732	50,138
Effect of dilutive securities:
Stock options, restricted stock units and performance share units (in shares)	460	1,037	561	1,087
Weighted-average shares outstanding—Diluted (in shares)	51,283	51,334	51,293	51,225
Anti-dilutive common stock equivalents (in shares)	597	159	550	159

EQUITY AND NONCONTROLLING INTERESTS - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	6 Months Ended
	Jun. 25, 2022	Jun. 25, 2022	Jun. 26, 2021	May 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares acquired to satisfy minimum individual statutory tax withholdings for vesting of equity instruments (in shares)		0.1	0.1
Shares acquired to satisfy minimum individual statutory tax withholdings for vesting of equity instruments		$ 38,500	$ 40,300
Redeemable noncontrolling interests	$ 40,177	40,177	$ 30,799		$ 53,010	$ 25,499
Vital River
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Contractually defined redemption value	24,300	24,300
Supplier
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Redeemable noncontrolling interests	$ 15,900	$ 15,900
Vital River
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity interest	92.00%	92.00%
Noncontrolling interest ownership percentage	8.00%	8.00%
Supplier
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Equity interest				80.00%
Noncontrolling interest ownership percentage	10.00%	10.00%		20.00%
Increase in ownership percentage	10.00%	10.00%
Purchase of additional equity interest	$ 15,000
Authorized Share Repurchase Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares repurchased during period (in shares)		0.0	0.0
Remaining authorized repurchase amount	$ 129,100	$ 129,100

EQUITY AND NONCONTROLLING INTERESTS - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance	$ 2,614,906	$ 2,188,184	$ 2,538,982	$ 2,118,169
Other comprehensive loss before reclassifications			(104,196)
Amounts reclassified from accumulated other comprehensive income			1,487
Net current period other comprehensive (loss) income			(102,709)
Income tax (benefit) expense	(6,876)	2,449	(8,894)	1,424
Ending balance	2,652,927	2,323,280	2,652,927	2,323,280
Foreign Currency Translation Adjustment and Other
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance			(98,173)
Other comprehensive loss before reclassifications			(104,196)
Amounts reclassified from accumulated other comprehensive income			0
Net current period other comprehensive (loss) income			(104,196)
Income tax (benefit) expense			(9,264)
Ending balance	(193,105)		(193,105)
Pension and Other Post-Retirement Benefit Plans
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance			(66,567)
Other comprehensive loss before reclassifications			0
Amounts reclassified from accumulated other comprehensive income			1,487
Net current period other comprehensive (loss) income			1,487
Income tax (benefit) expense			370
Ending balance	(65,450)		(65,450)
Total
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Beginning balance	(174,933)	(127,017)	(164,740)	(138,874)
Ending balance	$ (258,555)	$ (108,021)	$ (258,555)	$ (108,021)

- Definition

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

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- Definition

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

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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.

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-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4568447-111683

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

+ Details

EQUITY AND NONCONTROLLING INTERESTS - Rollforward of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 53,010	$ 25,499
Purchase of a 10% redeemable noncontrolling interest	(15,000)	0
Adjustments of noncontrolling interests to redemption values	2,293	2,341
Net income attributable to noncontrolling interests	2,487	2,599
Foreign currency translation	(2,613)	360
Ending balance	$ 40,177	$ 30,799

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	23.20%	29.50%	19.20%	20.60%
Increase in unrecognized tax benefits	$ 0.3
Unrecognized tax benefits	34.5		$ 34.5
Increase in unrecognized tax benefits that would impact effective tax rate	0.1
Unrecognized tax benefits that would impact effective tax rate	31.1		31.1
Accrued interest on unrecognized tax benefits	0.9		0.9
Decrease in unrecognized tax benefits that are reasonably possibly over the next twelve-month period	$ 11.4		$ 11.4

RESTRUCTURING AND ASSET IMPAIRMENTS - Restructuring Costs by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2022	Jun. 26, 2021	Jun. 25, 2022	Jun. 26, 2021
Segment Reporting Information [Line Items]
Total	$ 1,364	$ 1,609	$ 3,375	$ 2,358
Unallocated corporate
Segment Reporting Information [Line Items]
Total	167	0	1,254	(151)
RMS
Segment Reporting Information [Line Items]
Total	453	0	1,127	7
DSA
Segment Reporting Information [Line Items]
Total	473	1,074	616	1,633
Manufacturing
Segment Reporting Information [Line Items]
Total	$ 271	$ 535	$ 378	$ 869

RESTRUCTURING AND ASSET IMPAIRMENTS - Narrative (Details) - USD ($) $ in Millions	Jun. 25, 2022	Jun. 26, 2021
Restructuring and Related Activities [Abstract]
Severance and other personnel related costs liability and lease obligation liabilities	$ 3.3	$ 2.8

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Estimated Revenue Related to Performance Obligations (Details) $ in Thousands	Jun. 25, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 987,136
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-06-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 501,566
Performance obligations expected to be satisfied, expected timing	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 429,944
Performance obligations expected to be satisfied, expected timing	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 52,543
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 3,083
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	$ 985,515
DSA \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-06-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	499,945
DSA \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	429,944
DSA \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	52,543
DSA \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	3,083
Manufacturing
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	1,621
Manufacturing \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-06-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	1,621
Manufacturing \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	0
Manufacturing \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	0
Manufacturing \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 0