EQUITY AND NONCONTROLLING INTERESTS (Tables)

3 Months Ended

Mar. 28, 2020

Equity [Abstract]

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

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

	Three Months Ended
	March 28, 2020		March 30, 2019
	(in thousands)
Numerator:
Net income	$	50,837	$	55,688
Less: Net income attributable to noncontrolling interests	68		555
Net income attributable to common shareholders	$	50,769	$	55,133
Denominator:
Weighted-average shares outstanding - Basic	49,189		48,458
Effect of dilutive securities:
Stock options, restricted stock units and performance share units	777		1,004
Weighted-average shares outstanding - Diluted	49,966		49,462

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 28, 2019	$	(87,578)	$	(90,441)	$	(178,019)
Other comprehensive loss before reclassifications	(44,311)		—		(44,311)
Amounts reclassified from accumulated other comprehensive loss	—		1,374		1,374
Net current period other comprehensive income (loss)	(44,311)		1,374		(42,937)
Income tax expense (benefit)	(2,330)		291		(2,039)
March 28, 2020	$	(129,559)	$	(89,358)	$	(218,917)

Rollforward Redeemable Noncontrolling Interest

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

	Three Months Ended
	March 28, 2020		March 30, 2019
	(in thousands)
Beginning balance	$	28,647	$	18,525
Acquisition of noncontrolling interest	(3,732)		—
Adjustment to Vital River redemption value	—		1,451
Net (loss) income attributable to noncontrolling interests	(332)		85
Foreign currency translation	(544)		458
Ending balance	$	24,039	$	20,519