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Stockholders' Deficit | 6 Months Ended
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Jun. 18, 2023
Federal Home Loan Banks [Abstract] |
Stockholders' Deficit | 4. Stockholders’ Deficit The following table summarizes the changes in stockholders’ deficit for the second quarter of 2023.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |
|  |  |  |  |  |  |  | Additional |  |  |  |  |  | Other |
|  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Deficit |  |  | Loss |
Balance at March 26, 2023 |  |  | 35,330,133 |  |  | $ | 353 |  |  | $ | 1,474 |  |  | $ | (4,148,455 | ) |  | $ | (5,145 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 109,380 |  |  |  | — |
Dividends declared on common stock and equivalents ($1.21 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (42,645 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | 14,078 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (4,596 | ) |  |  | — |  |  |  | (1,515 | ) |  |  | — |  |  |  | — |
Purchases of common stock |  |  | (292,030 | ) |  |  | (2 | ) |  |  | (6,824 | ) |  |  | (84,800 | ) |  |  | — |
Exercise of stock options |  |  | 10,000 |  |  |  | — |  |  |  | 708 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 9,527 |  |  |  | — |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,378 |
Balance at June 18, 2023 |  |  | 35,057,585 |  |  | $ | 351 |  |  | $ | 3,370 |  |  | $ | (4,166,520 | ) |  | $ | (3,767 | )
The following table summarizes the changes in stockholders’ deficit for the two fiscal quarters of 2023.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |
|  |  |  |  |  |  |  | Additional |  |  |  |  |  | Other |
|  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Deficit |  |  | Loss |
Balance at January 1, 2023 |  |  | 35,419,718 |  |  | $ | 354 |  |  | $ | 9,693 |  |  | $ | (4,194,418 | ) |  | $ | (4,694 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 214,150 |  |  |  | — |
Dividends declared on common stock and equivalents ($2.42 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (85,650 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | 28,573 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (9,669 | ) |  |  | — |  |  |  | (3,068 | ) |  |  | — |  |  |  | — |
Purchases of common stock |  |  | (392,545 | ) |  |  | (3 | ) |  |  | (21,371 | ) |  |  | (100,602 | ) |  |  | — |
Exercise of stock options |  |  | 11,508 |  |  |  | — |  |  |  | 1,051 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 17,065 |  |  |  | — |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 927 |
Balance at June 18, 2023 |  |  | 35,057,585 |  |  | $ | 351 |  |  | $ | 3,370 |  |  | $ | (4,166,520 | ) |  | $ | (3,767 | )
Subsequent to the end of the second quarter of 2023, on July 20, 2023, the Company’s Board of Directors declared a $1.21 per share quarterly dividend on its outstanding common stock for shareholders of record as of September 15, 2023 to be paid on September 29, 2023. The following table summarizes the changes in stockholders’ deficit for the second quarter of 2022.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |
|  |  |  |  |  |  |  | Additional |  |  |  |  |  | Other |
|  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Deficit |  |  | Loss |
Balance at March 27, 2022 |  |  | 36,037,373 |  |  | $ | 360 |  |  | $ | 3,545 |  |  | $ | (4,200,341 | ) |  | $ | (2,206 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 102,493 |  |  |  | — |
Dividends declared on common stock and equivalents ($1.10 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (39,603 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | 13,866 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (3,950 | ) |  |  | — |  |  |  | (1,606 | ) |  |  | — |  |  |  | — |
Purchases of common stock |  |  | (148,248 | ) |  |  | (1 | ) |  |  | (7,083 | ) |  |  | (42,916 | ) |  |  | — |
Exercise of stock options |  |  | 605 |  |  |  | — |  |  |  | 260 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 8,473 |  |  |  | — |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,684 | )
Balance at June 19, 2022 |  |  | 35,899,646 |  |  | $ | 359 |  |  | $ | 3,589 |  |  | $ | (4,180,367 | ) |  | $ | (3,890 | )
The following table summarizes the changes in stockholders’ deficit for the two fiscal quarters of 2022.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |
|  |  |  |  |  |  |  | Additional |  |  |  |  |  | Other |
|  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Deficit |  |  | Loss |
Balance at January 2, 2022 |  |  | 36,138,273 |  |  | $ | 361 |  |  | $ | 840 |  |  | $ | (4,207,917 | ) |  | $ | (2,820 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 193,457 |  |  |  | — |
Dividends declared on common stock and equivalents ($2.20 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (79,368 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | 14,206 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (5,825 | ) |  |  | — |  |  |  | (2,395 | ) |  |  | — |  |  |  | — |
Purchases of common stock |  |  | (249,058 | ) |  |  | (2 | ) |  |  | (11,120 | ) |  |  | (86,539 | ) |  |  | — |
Exercise of stock options |  |  | 2,050 |  |  |  | — |  |  |  | 526 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 15,738 |  |  |  | — |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,070 | )
Balance at June 19, 2022 |  |  | 35,899,646 |  |  | $ | 359 |  |  | $ | 3,589 |  |  | $ | (4,180,367 | ) |  | $ | (3,890 | )

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