Shareholders' Equity and Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 29, 2023

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

Changes in shareholders’ equity for the three-month and nine-month fiscal periods ended September 29, 2023, and September 30, 2022, were as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
In thousands
Beginning balance(1)	$	686,329	$	777,623	$	680,756	$	795,453
Comprehensive (loss) income	(2,864)		(9,334)		9,579		(15,502)
Dividends declared (per share of common stock, $0.20 and $0.20 and $0.60 and $0.60, respectively)	(5,650)		(5,604)		(16,915)		(16,791)
Employee stock plans and related tax benefit	495		430		1,465		1,696
Purchase of treasury shares	(277)		(64)		(780)		(762)
Share-based compensation expense	1,262		1,334		5,190		6,145
Impact of change in accounting standard(2)	—		—		—		(5,854)
Ending balance	$	679,295	$	764,385	$	679,295	$	764,385

Schedule of Accumulated Other Comprehensive Income (Loss)

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

	For the Three Months Ended
	September 29, 2023		September 30, 2022
In thousands
Foreign currency translation:
Beginning balance	$	1,398	$	(6,707)
Net loss on foreign currency translation	(5,766)		(9,875)
Other comprehensive income (loss), net of tax	(5,766)		(9,875)
Ending balance	$	(4,368)	$	(16,582)
Pension and other post-retirement benefits(1):
Beginning balance	$	(153,394)	$	(118,495)
Amortization of net loss, net of tax expense of $445 and $259, respectively	1,478		821
Other comprehensive income, net of tax	1,478		821
Ending balance	$	(151,916)	$	(117,674)
Derivative instruments(2):
Beginning balance	$	1,532	$	—
Gain on derivative instruments, net of tax expense of $138 and $0, respectively	460		—
Reclassification to net income, net of tax benefit of $(151) and $0, respectively	(502)		—
Other comprehensive income (loss), net of tax	(42)		—
Ending balance	$	1,490	$	—
Total accumulated other comprehensive loss	$	(154,794)	$	(134,256)

(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 Nine Months Ended
	September 29, 2023		September 30, 2022
In thousands
Foreign currency translation:
Beginning balance	$	(2,071)	$	8,765
Net loss on foreign currency translation	(2,297)		(25,347)
Other comprehensive income (loss), net of tax	(2,297)		(25,347)
Ending balance	$	(4,368)	$	(16,582)
Pension and other post-retirement benefits(1):
Beginning balance	$	(156,350)	$	(120,157)
Amortization of net loss, net of tax expense of $1,336 and $756, respectively	4,434		2,483
Other comprehensive income, net of tax	4,434		2,483
Ending balance	$	(151,916)	$	(117,674)
Derivative instruments(2):
Beginning balance	$	—	$	7
Gain on derivative instruments, net of tax expense of $692 and $0, respectively	2,298		—
Reclassification to net income, net of tax benefit of $(243) and $0, respectively	(808)		(7)
Other comprehensive income (loss), net of tax	1,490		(7)
Ending balance	$	1,490	$	—
Total accumulated other comprehensive loss	$	(154,794)	$	(134,256)

(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.