Shareholders' equity (Tables)

9 Months Ended

Sep. 29, 2024

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		Nine Months Ended
	September 29, 2024	October 1, 2023	September 29, 2024	October 1, 2023
Basic	46,724	46,992	46,995	46,974
Dilutive effect of share-based awards	288	307	261	330

Diluted	47,012	47,299	47,256	47,304

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 nine months ended September 29, 2024 and October 1, 2023:


	Cash Flow Hedges		Pension and Other Postretirement Benefit Plans		Foreign Currency Translation Adjustment		Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2023	$	1,396	$	(88,049)	$	(227,752)	$	(314,405)
Other comprehensive (loss) income before reclassifications (1)	(6,249)		8,280		(23,008)		(20,977)
Amounts reclassified from accumulated other comprehensive (loss) income	(2,677)		79,819		—		77,142
Net current-period other comprehensive (loss) income	(8,926)		88,099		(23,008)		56,165

Balance as of September 29, 2024	$	(7,530)	$	50	$	(250,760)	$	(258,240)

(1)The foreign currency translation includes a loss of $19.7 million stemming from the measurement period adjustment related to our acquisition of Palette as described in Note 4.


	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	9,109		(76)		(13,368)		(4,335)
Amounts reclassified from accumulated other comprehensive income	(8,320)		4,027		—		(4,293)
Net current-period other comprehensive income	789		3,951		(13,368)		(8,628)

Balance as of October 1, 2023	$	5,720	$	(131,848)	$	(286,022)	$	(412,150)

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 (income)/expense, net of tax, for the three and nine months ended September 29, 2024 and October 1, 2023:


	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
(Gains) Loss on foreign exchange contracts:
Cost of goods sold	$	(589)	$	(3,499)	$	(2,698)	$	(8,734)
Total before tax	(589)		(3,499)		(2,698)		(8,734)
Taxes	7		34		21		414
Net of tax	(582)		(3,465)		(2,677)		(8,320)
Pension and other postretirement benefit items (1):
Actuarial (gains) losses	(48)		1,851		1,162		5,986
Prior-service costs	(492)		(252)		(1,475)		(756)
Settlements	—		—		138,139		—
Total before tax	(540)		1,599		137,826		5,230
Tax benefit	118		(368)		(58,007)		(1,203)
Net of tax	(422)		1,231		79,819		4,027
Total reclassifications, net of tax	$	(1,004)	$	(2,234)	$	77,142	$	(4,293)

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