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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Accounting Policies [Abstract] |
Schedule of Useful Lives of Assets | Property, plant and equipment is stated at cost less accumulated depreciation. Expenditures for repairs and improvements that significantly add to the productive capacity or extend the useful life of an asset are capitalized. Repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method generally over the following useful lives:
|  | Years
Machinery and equipment |  | 3 - 12
Office furniture and equipment |  | 2 - 10
Buildings |  | 30 - 40
Building and land improvements |  | 5 - 20
Leasehold improvements |  | 2 - 10
Computation of basic and diluted earnings per common share | The following table presents the computation of basic and diluted earnings per common share (in millions except per share data):
|  | December 31, 2022 |  |  | January 1, 2022 |  |  | January 2, 2021 |
Net income |  | $ | 98.4 |  |  | $ | 104.6 |  |  | $ | 14.2 |
Weighted average shares outstanding - Basic |  |  | 32.5 |  |  |  | 32.3 |  |  |  | 32.1 |
Net effect of dilutive securities - Stock based compensation |  |  | 0.1 |  |  |  | 0.2 |  |  |  | 0.1 |
Weighted average shares outstanding - Diluted |  |  | 32.6 |  |  |  | 32.5 |  |  |  | 32.2 |
Net income per share: |  |  |  |  |  |  |  |  |
Basic |  | $ | 3.03 |  |  | $ | 3.24 |  |  | $ | 0.44 |
Diluted |  | $ | 3.02 |  |  | $ | 3.22 |  |  | $ | 0.44 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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