Shareholders' Equity and Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

Changes in shareholders’ equity for the three-month and six-month fiscal periods ended June 30, 2023, and July 1, 2022, were as follows:

	For the Three Months Ended				For the Six Months Ended
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022
In thousands
Beginning balance(1)	$	679,983	$	785,719	$	680,756	$	795,453
Comprehensive income (loss)	9,584		(5,587)		12,443		(6,168)
Dividends declared (per share of common stock, $0.20 and $0.20 and $0.40 and $0.40, respectively)	(5,638)		(5,597)		(11,265)		(11,187)
Employee stock plans and related tax benefit	475		481		970		1,266
Purchase of treasury shares	—		(123)		(503)		(698)
Share-based compensation expense	1,925		2,730		3,928		4,811
Impact of change in accounting standard(2)	—		—		—		(5,854)
Ending balance	$	686,329	$	777,623	$	686,329	$	777,623

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	For the Three Months Ended
	June 30, 2023		July 1, 2022
In thousands
Foreign currency translation:
Beginning balance	$	467	$	3,547
Net gain (loss) on foreign currency translation	931		(10,254)
Other comprehensive income (loss), net of tax	931		(10,254)
Ending balance	$	1,398	$	(6,707)
Pension and other post-retirement benefits(1):
Beginning balance	$	(154,909)	$	(119,395)
Amortization of net loss, net of tax expense of $457 and $269, respectively	1,515		900
Other comprehensive income, net of tax	1,515		900
Ending balance	$	(153,394)	$	(118,495)
Derivative instruments(2):
Beginning balance	$	(351)	$	7
Gain on derivative instruments, net of tax expense of $632 and $0, respectively	2,098		—
Reclassification to net income, net of tax benefit of $(64) and $0, respectively	(215)		(7)
Other comprehensive income (loss), net of tax	1,883		(7)
Ending balance	$	1,532	$	—
Total accumulated other comprehensive loss	$	(150,464)	$	(125,202)

(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.)

(2) See Note 9, Derivative Financial Instruments, for additional information regarding derivative instruments.

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

	For the Six Months Ended
	June 30, 2023		July 1, 2022
In thousands
Foreign currency translation:
Beginning balance	$	(2,071)	$	8,765
Net gain (loss) on foreign currency translation	3,469		(15,472)
Other comprehensive income (loss), net of tax	3,469		(15,472)
Ending balance	$	1,398	$	(6,707)
Pension and other post-retirement benefits(1):
Beginning balance	$	(156,350)	$	(120,157)
Amortization of net loss, net of tax expense of $891 and $497, respectively	2,956		1,662
Other comprehensive income, net of tax	2,956		1,662
Ending balance	$	(153,394)	$	(118,495)
Derivative instruments(2):
Beginning balance	$	—	$	7
Gain on derivative instruments, net of tax expense of $554 and $0, respectively	1,838		—
Reclassification to net income, net of tax benefit of $(92) and $0, respectively	(306)		(7)
Other comprehensive income (loss), net of tax	1,532		(7)
Ending balance	$	1,532	$	—
Total accumulated other comprehensive loss	$	(150,464)	$	(125,202)

(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.)

(2) See Note 9, Derivative Financial Instruments, for additional information regarding derivative instruments.