Shareholders' Equity and Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Apr. 01, 2022

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

Changes in shareholders’ equity for the three-month fiscal periods ended April 1, 2022, and April 2, 2021, were as follows:

	For the Three Months Ended
	April 1, 2022		April 2, 2021
In thousands
Beginning balance	$	796,329	$	746,438
Comprehensive (loss) income	(428)		24,339
Dividends declared (per share of common stock, $0.20 and $0.20, respectively)	(5,590)		(5,562)
Employee stock plans and related tax benefit	785		880
Purchase of treasury shares	(575)		(344)
Share-based compensation expense	2,081		1,743
Impact of change in accounting standard	(5,854)		(275)
Ending balance	$	786,748	$	767,219

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	For the Three Months Ended
	April 1, 2022		April 2, 2021
In thousands
Foreign currency translation and other:
Beginning balance	$	8,772	$	(717)
Net loss on foreign currency translation	(5,218)		(7,322)
Reclassification to net income(1)	—		22,835
Other comprehensive income (loss), net of tax	(5,218)		15,513
Ending balance	$	3,554	$	14,796
Pension and other post-retirement benefits(2):
Beginning balance	$	(120,157)	$	(130,104)
Amortization of net loss, net of tax expense of $228 and $250, respectively	762		842
Other comprehensive income, net of tax	762		842
Ending balance	$	(119,395)	$	(129,262)
Total accumulated other comprehensive loss	$	(115,841)	$	(114,466)

(1) The foreign currency translation reclassified to net income relates to the sale of the Company's UK Composites business. This balance was included in the loss accrual recorded in impairment on assets held for sale on the Company's Consolidated Statement of Operations in the year ended December 31, 2020 (see Note 3, Disposals, for additional information).

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

(See Note 14, Pension Plans for additional information.)