Shareholders' Equity and Accumulated Other Comprehensive Income

9 Months Ended

Oct. 02, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity and Accumulated Other Comprehensive Income

SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME

Changes in shareholders’ equity for the three-month and nine-month fiscal periods ended October 2, 2020, and September 27, 2019, were as follows:

	For the Three Months Ended				For the Nine Months Ended
	October 2, 2020		September 27, 2019		October 2, 2020		September 27, 2019
In thousands
Beginning balance	$	803,396	$	658,169	$	823,202	$	633,157
Comprehensive (loss) income	(28,270)		137,127		(28,402)		169,002
Dividends declared (per share of common stock, $0.20 and $0.20 and $0.60 and $0.60, respectively)	(5,540)		(5,589)		(16,622)		(16,767)
Employee stock plans and related tax benefit	465		5,070		2,451		8,616
Purchase of treasury shares	(37)		(8,943)		(14,205)		(12,006)
Share-based compensation expense	664		3,072		4,254		6,904
Changes due to convertible notes transactions	—		38		—		38
Ending balance	$	770,678	$	788,944	$	770,678	$	788,944

17. SHAREHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED)

The components of accumulated other comprehensive income (loss) are shown below:

	For the Three Months Ended
	October 2, 2020		September 27, 2019
In thousands
Foreign currency translation and other:
Beginning balance	$	(18,882)	$	(16,167)
Net gain (loss) on foreign currency translation	9,130		(8,585)
Other comprehensive loss, net of tax	9,130		(8,585)
Ending balance	$	(9,752)	$	(24,752)
Pension and other post-retirement benefits(1):
Beginning balance	$	(132,328)	$	(137,541)
Amortization of net loss, net of tax expense of $330 and $940, respectively	1,107		2,936
Other comprehensive income, net of tax	1,107		2,936
Ending balance	$	(131,221)	$	(134,605)
Total accumulated other comprehensive loss	$	(140,973)	$	(159,357)

(1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost.

(See Note 13, Pension Plans for additional information.)

	For the Nine Months Ended
	October 2, 2020		September 27, 2019
In thousands
Foreign currency translation and other:
Beginning balance	$	(16,351)	$	(14,579)
Net gain (loss) on foreign currency translation	6,599		(10,173)
Other comprehensive loss, net of tax	6,599		(10,173)
Ending balance	$	(9,752)	$	(24,752)
Pension and other post-retirement benefits(1):
Beginning balance	$	(134,542)	$	(120,319)
Amortization of net loss, net of tax expense of $990 and $2,820, respectively	3,321		8,808
Other comprehensive income, net of tax	3,321		8,808
Reclassification of stranded tax effects resulting from Tax Reform to retained earnings balance	—		(23,094)
Ending balance	$	(131,221)	$	(134,605)
Total accumulated other comprehensive loss	$	(140,973)	$	(159,357)

(1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost.

(See Note 13, Pension Plans, for additional information.)