SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 26, 2021

Shareholders' Equity [Abstract]

Schedule of Stockholders Equity

Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows:

	Thirteen weeks ended				Thirty-nine weeks ended
(in thousands)	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Common stock shares
Beginning balance	35,510		36,052		35,493		38,593
Purchases and retirement of common stock	—		(627)		—		(3,557)
Net issuance under equity plans, including tax benefits	(55)		48		(72)		387
Stock-based compensation	—		(23)		34		27
Ending balance	35,455		35,450		35,455		35,450
Common stock amount
Beginning balance	$	1	$	1	$	1	$	1
Current period activity	—		—		—		—
Ending balance	1		1		1		1
Retained earnings
Beginning balance	479,567		430,525		452,017		639,210
Net income (loss)	18,642		8,795		41,424		(149,867)
Purchases and retirement of common stock (1)	—		—		—		(52,346)
Net issuance under equity plans, including tax benefits	(133)		(177)		(2,281)		(1,597)
Stock-based compensation	3,233		2,417		10,149		6,762
Change in accounting standard cumulative-effect adjustment (2)	—		—		—		(602)
Ending balance	501,309		441,560		501,309		441,560
Accumulated other comprehensive loss
Beginning balance, net of tax	(14,338)		(17,765)		(14,828)		(13,238)
Foreign currency translation adjustment	(1,296)		386		(806)		(4,141)
Ending balance, net of tax	(15,634)		(17,379)		(15,634)		(17,379)
Total shareholders’ equity ending balance	$	485,676	$	424,182	$	485,676	$	424,182

(1)Under applicable Washington State law, shares purchased are not displayed separately as treasury stock on our Consolidated Balance Sheets and are treated as authorized but unissued shares. It is our accounting policy to first record these purchases as a reduction to our common stock account. Once the common stock account has been reduced to a nominal balance, remaining purchases are recorded as a reduction to our retained earnings. Furthermore, activity in our common stock account related to stock-based compensation is also recorded to retained earnings until such time as the reduction to retained earnings due to stock repurchases has been recovered.

(2)As a result of our adoption of the accounting standard for credit losses, we recognized a cumulative-effect adjustment to retained earnings of $0.6 million in the first quarter of 2020.