Shareholders' equity (Tables)

3 Months Ended

Apr. 02, 2023

Reconciliation of Basic to Diluted Weighted Average Common Shares Outstanding

The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding:


	Three Months Ended
	April 2, 2023	March 27, 2022
Basic	46,949	46,876
Dilutive effect of share-based awards	336	526

Diluted	47,285	47,402

Change in Accumulated Other Comprehensive Income (Loss)

The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the three months ended April 2, 2023 and March 27, 2022:


	Cash Flow Hedges		Pension and Other Postretirement Benefit Plans		Foreign Currency Translation Adjustment		Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2022	$	4,931	$	(135,799)	$	(272,654)	$	(403,522)
Other comprehensive income (loss) before reclassifications	5,260		(184)		18,570		23,646
Amounts reclassified from accumulated other comprehensive income	(2,852)		1,397		—		(1,455)
Net current-period other comprehensive income	2,408		1,213		18,570		22,191

Balance as of April 2, 2023	$	7,339	$	(134,586)	$	(254,084)	$	(381,331)


	Cash Flow Hedges		Pension and Other Postretirement Benefit Plans		Foreign Currency Translation Adjustment		Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2021	$	1,081	$	(138,290)	$	(209,750)	$	(346,959)
Other comprehensive income (loss) before reclassifications	57		246		(23,329)		(23,026)
Amounts reclassified from accumulated other comprehensive income	400		1,340		—		1,740
Net current-period other comprehensive income (loss)	457		1,586		(23,329)		(21,286)

Balance as of March 27, 2022	$	1,538	$	(136,704)	$	(233,079)	$	(368,245)

Reclassification of Gain/Losses into Income/Expense, Net of Tax

The following table provides information relating to the location in the statements of operations and amount of reclassifications of losses/(gains) in accumulated other comprehensive (loss) income into expense/(income), net of tax, for the three months ended April 2, 2023 and March 27, 2022:


	Three Months Ended
	April 2, 2023		March 27, 2022
(Gains) Loss on foreign exchange contracts:
Cost of goods sold	$	(3,054)	$	398
Total before tax	(3,054)		398
Taxes	202		2
Net of tax	(2,852)		400
Amortization of pension and other postretirement benefit items (1):
Actuarial losses	2,066		2,000
Prior-service costs	(252)		(252)

Total before tax	1,814		1,748
Tax benefit	(417)		(408)
Net of tax	1,397		1,340
Total reclassifications, net of tax	$	(1,455)	$	1,740

(1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans.