Shareholders' Equity and Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

Changes in shareholders’ equity for the three-month fiscal periods ended March 31, 2023, and April 1, 2022, were as follows:

	For the Three Months Ended
	March 31, 2023		April 1, 2022
In thousands
Beginning balance	$	683,979	$	796,329
Comprehensive income (loss)	3,609		(428)
Dividends declared (per share of common stock, $0.20 and $0.20, respectively)	(5,627)		(5,590)
Employee stock plans and related tax benefit	495		785
Purchase of treasury shares	(503)		(575)
Share-based compensation expense	2,003		2,081
Impact of change in accounting standard(1)	—		(5,854)
Ending balance	$	683,956	$	786,748

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	For the Three Months Ended
	March 31, 2023		April 1, 2022
In thousands
Foreign currency translation:
Beginning balance	$	(2,071)	$	8,765
Net gain (loss) on foreign currency translation	2,538		(5,218)
Other comprehensive income (loss), net of tax	2,538		(5,218)
Ending balance	$	467	$	3,547
Pension and other post-retirement benefits(1):
Beginning balance	$	(156,350)	$	(120,157)
Amortization of net loss, net of tax expense of $434 and $228, respectively	1,441		762
Other comprehensive income, net of tax	1,441		762
Ending balance	$	(154,909)	$	(119,395)
Derivative instruments(2):
Beginning balance	$	—	$	7
Loss on derivative instruments, net of tax benefit of $78 and $0, respectively	(260)		—
Reclassification to net income, net of tax benefit of $28 and $0, respectively	$	(91)	$	—
Other comprehensive (loss) income, net of tax	(351)		—
Ending balance	$	(351)	$	7
Total accumulated other comprehensive loss	$	(154,793)	$	(115,841)

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

(See Note 11, Pension Plans, for additional information.)

(2) See Note 8, Derivative Financial Instruments, for additional information regarding derivative instruments.