Shareholders' Equity (Tables)

6 Months Ended

Jul. 02, 2023

Stockholders' Equity Note [Abstract]

The following tables depict the activity in the accounts which make up shareholders’ equity for the six months ended July 2, 2023 and July 3, 2022:


	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		PENSION LIABILITY		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		CASH FLOW HEDGE
	(in thousands)
Balance, at January 1, 2023	58,106	$	5,811	$	244,159	$	278,639	$	(27,548)	$	(138,775)	$	(749)
Net loss	—	—		—		(714)		—		—		—
Issuances of stock related to performance shares	79	8		(8)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(580)		—		—		—
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(132)	(14)		1,850		—		—		—		—
Pension liability adjustment	—	—		—		—		(279)		—		—
Foreign currency translation adjustment	—	—		—		—		—		4,930		—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	—	—		—		—		—		—		299
Balance, at April 2, 2023	58,053	$	5,805	$	246,001	$	277,345	$	(27,827)	$	(133,845)	$	(450)
Net income	—	—		—		15,797		—		—		—
Issuances of stock related to restricted share units and performance shares	5	1		(1)		—		—		—		—
Restricted stock issuances	102	10		697		—		—		—		—
Unrecognized compensation expense related to restricted stock awards	—	—		(708)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(581)		—		—		—
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(48)	(5)		1,808		—		—		—		—
Pension liability adjustment	—	—		—		—		(800)		—		—
Foreign currency translation adjustment	—	—		—		—		—		1,361		—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	—	—		—		—		—		—		300
Balance, at July 2, 2023	58,112	$	5,811	$	247,797	$	292,561	$	(28,627)	$	(132,484)	$	(150)


	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		PENSION LIABILITY		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		CASH FLOW HEDGE
	(in thousands)
Balance, at January 2, 2022	59,055	$	5,905	$	253,110	$	261,434	$	(53,888)	$	(100,441)	$	(2,722)
Net income	—	—		—		13,293		—		—		—
Restricted stock issuances	303	30		3,966		—		—		—		—
Unrecognized compensation expense related to restricted stock awards	—	—		(3,996)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(592)		—		—		—
Compensation expense related to share-based plans, net of shares received for tax withholdings	(30)	(2)		1,787		—		—		—		—
Pension liability adjustment	—	—		—		—		1,539		—		—
Foreign currency translation adjustment	—	—		—		—		—		(13,184)		—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	—	—		—		—		—		—		641
Balance, at April 3, 2022	59,328	$	5,933	$	254,867	$	274,135	$	(52,349)	$	(113,625)	$	(2,081)
Net income	—	—		—		16,818		—		—		—
Restricted stock issuances	198	20		2,533		—		—		—		—
Unrecognized compensation expense related to restricted stock awards	—	—		(2,553)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(595)		—		—		—
Compensation expense related to share-based plans, net of forfeitures	(14)	(1)		2,145		—		—		—		—
Share repurchases	(415)	(42)		(5,540)		—		—		—		—
Pension liability adjustment	—	—		—		—		3,842		—		—
Foreign currency translation adjustment	—	—		—		—		—		(36,670)		—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	—	—		—		—		—		—		540
Balance, at July 3, 2022	59,097	$	5,910	$	251,452	$	290,358	$	(48,507)	$	(150,295)	$	(1,541)

Schedule of Restricted Stock Outstanding and Activity

The following table summarizes restricted stock outstanding as of July 2, 2023, as well as activity during the six months then ended:


	Restricted Shares	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	1,006,400	$	13.91
Granted	102,300	6.92
Vested	(405,100)	14.43
Forfeited or canceled	(14,700)	13.58
Outstanding at July 2, 2023	688,900	$	12.57

Schedule of Restricted Share Units Outstanding and Activity

The following table summarizes restricted share units outstanding as of July 2, 2023, as well as activity during the six months then ended:


	Restricted Share Units	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	—	$	—
Granted	593,000	10.36
Vested	(2,100)	10.80
Forfeited or canceled	(9,100)	10.80
Outstanding at July 2, 2023	581,800	$	10.36

Schedule of Performance Shares Outstanding and Activity

The following table summarizes the performance shares outstanding as of July 2, 2023, as well as the activity during the six months then ended:


	Performance Shares	Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023	923,600	$	13.91
Granted	467,500	10.79
Vested	(82,300)	15.11
Forfeited or canceled	(190,100)	14.84
Outstanding at July 2, 2023	1,118,700	$	12.36