XML 36 R18.htm IDEA: XBRL DOCUMENT v3.26.1
STOCKHOLDERS' EQUITY
3 Months Ended
Apr. 03, 2026
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Common Stock
The following is a summary of the number of shares of Common Stock issued and outstanding for the three month periods ended April 3, 2026 and March 28, 2025:
IssuedTreasury StockOutstanding
Beginning balance at December 31, 202535,481,805 (1,135,355)34,346,450 
Stock options exercised— 1,084 1,084 
Vested and settled RSUs and PRSUs, net of shares withheld to cover taxes— 187,611 187,611 
Repurchases of common stock— (589,605)(589,605)
Ending balance at April 3, 202635,481,805 (1,536,265)33,945,540 
Beginning balance at December 31, 202433,546,262 (6)33,546,256 
Stock options exercised3,796 — 3,796 
Vested and settled RSUs and PRSUs, net of shares withheld to cover taxes190,588 — 190,588 
Stock issued upon conversion of convertible debt1,553,806 — 1,553,806 
Exercise of capped call upon conversion of convertible debt— (436,963)(436,963)
Stock issued for acquisition32,393 — 32,393 
Ending balance at March 28, 202535,326,845 (436,969)34,889,876 
Share Repurchase Program
On November 4, 2025, the Company announced that the Board had approved a share repurchase program whereby the Company may, from time to time, repurchase on the open market, in privately-negotiated purchases, including accelerated repurchases, or otherwise, up to $200.0 million of its common stock (the “Share Repurchase Program”). The Share Repurchase Program has no expiration date and will continue until otherwise suspended or terminated. The Share Repurchase Program does not obligate the Company to repurchase any dollar amount or number of shares and may be executed at the discretion of management on an opportunistic basis, or pursuant to trading plans or other arrangements. Shares of our common stock repurchased under the Share Repurchase Program are classified as treasury stock and recorded at cost on the Consolidated Balance Sheets.
On February 19, 2026, the Company entered into an accelerated share repurchase agreement (“ASR Agreement”) with Bank of America, N.A. ("Bank of America") to repurchase approximately $50.0 million of common stock under the Share Repurchase Program. Under the terms of the ASR Agreement, the Company paid Bank of America $50.0 million on February 19, 2026 and on that date received initial delivery of 462,535 shares, representing approximately 80% of the shares to be repurchased over the course of the ASR Agreement. On April 2, 2026, Bank of America delivered 127,070 additional shares which completed the ASR Agreement totaling 589,605 repurchased shares. The total number of shares ultimately repurchased under the ASR Agreement was based on the volume-weighted average price of the Company’s Common Stock during the repurchase period under the ASR Agreement, less a discount, which was $84.80 over the term of the ASR Agreement. The Company used available cash and borrowings under our credit facility to fund the repurchase of the common shares under the ASR Agreement. As of April 3, 2026, the Company had $100 million of capacity remaining under the Share Repurchase Program.
(12.)     STOCKHOLDERS’ EQUITY (Continued)
Accumulated Other Comprehensive Income
Accumulated other comprehensive income (“AOCI”) comprises the following (in thousands):
Defined
Benefit
Plan
Liability
Cash
Flow
Hedges
Foreign
Currency
Translation
Adjustment
Total
Pre-Tax
Amount
TaxNet-of-Tax
Amount
December 31, 2025$(113)$5,221 $54,144 $59,252 $(1,050)$58,202 
Unrealized loss on cash flow hedges— (6,595)— (6,595)1,385 (5,210)
Realized loss on foreign currency hedges— 2,935 — 2,935 (616)2,319 
Foreign currency translation loss— — (10,654)(10,654)— (10,654)
April 3, 2026$(113)$1,561 $43,490 $44,938 $(281)$44,657 
December 31, 2024$67 $(6,482)$(8,985)$(15,400)$1,357 $(14,043)
Unrealized gain on cash flow hedges— 4,400 — 4,400 (923)3,477 
Realized loss on foreign currency hedges— 1,293 — 1,293 (272)1,021 
Foreign currency translation gain— — 20,291 20,291 — 20,291 
March 28, 2025$67 $(789)$11,306 $10,584 $162 $10,746