Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended March 31, 2024 and April 2, 2023:


	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		PENSION LIABILITY		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		TOTAL
	(in thousands, except per share data)
Balance, at December 31, 2023	58,112	$	5,811	$	252,909	$	320,833	$	(34,016)	$	(119,590)	$	425,947
Net income	—	—		—		14,179		—		—		14,179
Issuances of stock related to restricted share units and performance shares	472	47		(47)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(589)		—		—		(589)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(311)	(31)		(324)		—		—		—		(355)
Pension liability adjustment	—	—		—		—		458		—		458
Foreign currency translation adjustment	—	—		—		—		—		(11,092)		(11,092)
Balance, at March 31, 2024	58,273	$	5,827	$	252,538	$	334,423	$	(33,558)	$	(130,682)	$	428,548


	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		PENSION LIABILITY		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		CASH FLOW HEDGE		TOTAL
	(in thousands, except per share data)
Balance, at January 1, 2023	58,106	$	5,811	$	244,159	$	278,639	$	(27,548)	$	(138,775)	$	(749)	$	361,537
Net loss	—	—		—		(714)		—		—		—		(714)
Issuances of stock related to performance shares	79	8		(8)		—		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(580)		—		—		—		(580)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(132)	(14)		1,850		—		—		—		—		1,836
Pension liability adjustment	—	—		—		—		(279)		—		—		(279)
Foreign currency translation adjustment	—	—		—		—		—		4,930		—		4,930
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	—	—		—		—		—		—		299		299
Balance, at April 2, 2023	58,053	$	5,805	$	246,001	$	277,345	$	(27,827)	$	(133,845)	$	(450)	$	367,029

Schedule of Restricted Stock Outstanding and Activity

The following table summarizes restricted stock outstanding as of March 31, 2024, as well as activity during the three months then ended:


	Restricted Shares	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2023	691,600	$	12.55
Granted	—	—
Vested	(324,300)	13.94
Forfeited or canceled	(1,200)	13.19
Outstanding at March 31, 2024	366,100	$	11.32

Schedule of Restricted Share Units Outstanding and Activity

The following table summarizes restricted share units outstanding as of March 31, 2024, as well as activity during the three months then ended:


	Restricted Share Units	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2023	583,400	$	10.35
Granted	402,800	13.24
Vested	(151,600)	10.80
Forfeited or canceled	(4,000)	10.80
Outstanding at March 31, 2024	830,600	$	11.67

Schedule of Performance Shares Outstanding and Activity

The following table summarizes the performance shares outstanding as of March 31, 2024, as well as the activity during the three months then ended:


	Performance Shares	Weighted Average Grant Date Fair Value
Outstanding at December 31, 2023	1,115,000	$	12.36
Granted	402,800	13.24
Vested	(320,700)	13.91
Forfeited or canceled	(12,800)	12.82
Outstanding at March 31, 2024	1,184,300	$	12.24