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Shareholders' equity
 9 Months Ended
Sep. 28, 2025
Equity [Abstract]  
Shareholders' equity Shareholders' equity
Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner except that the weighted average number of shares is increased to include dilutive securities. The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding:
Three Months EndedNine Months Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Basic44,237 46,724 44,755 46,995 
Dilutive effect of share-based awards— 288 — 261 
Diluted44,237 47,012 44,755 47,256 
The number of basic and diluted shares is the same for the three and nine months ended September 28, 2025 due to our loss from continuing operations. Additionally, because of the loss from continuing operations, for the three and nine months ended September 28, 2025, 0.1 million of potentially dilutive share-based awards were excluded from the computation of loss per share as their effect would have been antidilutive. The weighted average number of antidilutive shares excluded from the calculation of earnings per share were 1.3 million for the three and nine months ended September 28, 2025 and 0.9 million for the three and nine months ended September 29, 2024.
On July 30, 2024, the Board of Directors authorized a share repurchase program for up to $500 million of our common stock. On February 28, 2025, we entered into an accelerated share repurchase agreement for $300 million of our common stock, representing the remainder of the share repurchase program approved by the Board of Directors in 2024. Under this agreement, 1,725,253 shares of common stock, representing 80% of the $300 million aggregate, were delivered and included in treasury stock during the three months ended March 30, 2025. The initial shares received were calculated based on a price per share of $139.11, which was the closing share price of our common stock on February 27, 2025. Final settlement under the agreement occurred on April 9, 2025, at which time we received 493,150 additional shares of common stock. The total shares received were calculated based on a price per share of $135.23, which was based on volume-weighted average prices of our common stock during the accelerated share repurchase period less a discount.
The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the nine months ended September 28, 2025 and September 29, 2024:
Cash Flow HedgesPension and Other Postretirement Benefit PlansForeign Currency Translation AdjustmentAccumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2024$1,839 $1,838 $(320,346)$(316,669)
Other comprehensive (loss) income before reclassifications
(4,864)(2,548)58,250 50,838 
Amounts reclassified from accumulated other comprehensive income1,205 948 — 2,153 
Net current-period other comprehensive (loss) income(3,659)(1,600)58,250 52,991 
Balance as of September 28, 2025$(1,820)$238 $(262,096)$(263,678)
 Cash Flow HedgesPension and Other Postretirement Benefit PlansForeign Currency Translation AdjustmentAccumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2023$1,396 $(88,049)$(227,752)$(314,405)
Other comprehensive income (loss) before reclassifications(6,249)8,280 (23,008)(20,977)
Amounts reclassified from accumulated other comprehensive (loss) income(2,677)79,819 — 77,142 
Net current-period other comprehensive income(8,926)88,099 (23,008)56,165 
Balance as of September 29, 2024$(7,530)$50 $(250,760)$(258,240)
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 28, 2025 and September 29, 2024:
Three Months EndedNine Months Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
(Gains) Loss on foreign exchange contracts:
Cost of goods sold$756 $(589)$1,113 $(2,698)
Total before tax756 (589)1,113 (2,698)
Taxes(15)7 92 21 
Net of tax741 (582)1,205 (2,677)
Pension and other postretirement benefit items (1):
Actuarial (gains) losses16 (48)55 1,162 
Prior-service costs386 (492)1,156 (1,475)
Settlements— — — 138,139 
Total before tax402 (540)1,211 137,826 
Tax benefit(87)118 (263)(58,007)
Net of tax315 (422)948 79,819 
Total reclassifications, net of tax$1,056 $(1,004)$2,153 $77,142 
(1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans.