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Shareholders' Equity (Tables)

9 Months Ended

Oct. 02, 2022

Stockholders' Equity Note [Abstract]

Schedule of Shareholders' Equity

The following tables depict the activity in the accounts which make up shareholders’ equity for the nine months ended October 2, 2022 and October 3, 2021:

			SHARES						COMMON STOCK						ADDITIONAL PAID-IN CAPITAL						RETAINED EARNINGS						PENSION LIABILITY						FOREIGN CURRENCY TRANSLATION ADJUSTMENT						CASH FLOW HEDGE
			(in thousands)
Balance, at January 2, 2022			59,055						$	5,905					$	253,110					$	261,434					$	(53,888)					$	(100,441)					$	(2,722)
Net income			—						—						—						13,293						—						—						—
Restricted stock issuances			303						30						3,966						—						—						—						—
Unamortized compensation expense related to restricted stock awards			—						—						(3,996)						—						—						—						—
Cash dividends declared, $0.01 per common share			—						—						—						(592)						—						—						—
Compensation expense related to stock awards, net of shares received for tax withholdings			(30)						(2)						1,787						—						—						—						—
Pension liability adjustment			—						—						—						—						1,539						—						—
Foreign currency translation adjustment			—						—						—						—						—						(13,184)						—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge			—						—						—						—						—						—						641
Balance, at April 3, 2022			59,328						$	5,933					$	254,867					$	274,135					$	(52,349)					$	(113,625)					$	(2,081)
Net income			—						—						—						16,818						—						—						—
Restricted stock issuances			198						20						2,533						—						—						—						—
Unamortized compensation expense related to restricted stock awards			—						—						(2,553)						—						—						—						—
Cash dividends declared, $0.01 per common share			—						—						—						(595)						—						—						—
Compensation expense related to stock awards, net of forfeitures			(14)						(1)						2,145						—						—						—						—
Share repurchases			(415)						(42)						(5,540)						—						—						—						—
Pension liability adjustment			—						—						—						—						3,842						—						—
Foreign currency translation adjustment			—						—						—						—						—						(36,670)						—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge			—						—						—						—						—						—						540
Balance, at July 3, 2022			59,097						$	5,910					$	251,452					$	290,358					$	(48,507)					$	(150,295)					$	(1,541)
Net income			—						—						—						14,065						—						—						—
Cash dividends declared, $0.01 per common share			—						—						—						(586)						—						—						—
Compensation expense related to stock awards, net of forfeitures			(16)						(2)						2,353						—						—						—						—
Share repurchases			(711)						(71)						(8,798)						—						—						—						—
Pension liability adjustment			—						—						—						—						3,393						—						—
Foreign currency translation adjustment			—						—						—						—						—						(36,800)						—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge			—						—						—						—						—						—						492
Balance, at October 2, 2022			58,370						$	5,837					$	245,007					$	303,837					$	(45,114)					$	(187,095)					$	(1,049)

			SHARES						COMMON STOCK						ADDITIONAL PAID-IN CAPITAL						RETAINED EARNINGS						PENSION LIABILITY						FOREIGN CURRENCY TRANSLATION ADJUSTMENT						CASH FLOW HEDGE
			(in thousands)
Balance, at January 3, 2021			58,664						$	5,865					$	247,920					$	208,562					$	(69,288)					$	(60,331)					$	(6,190)
Net income			—						—						—						6,938						—						—						—
Restricted stock issuances			376						38						5,277						—						—						—						—
Unamortized compensation expense related to restricted stock awards			—						—						(5,315)						—						—						—						—
Cash dividends declared, $0.01 per common share			—						—						—						(589)						—						—						—
Compensation expense related to stock awards, net of forfeitures and shares received for tax withholdings			(26)						(2)						689						—						—						—						—
Pension liability adjustment			—						—						—						—						89						—						—
Foreign currency translation adjustment			—						—						—						—						—						(19,597)						—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge			—						—						—						—						—						—						749
Balance, at April 4, 2021			59,014						$	5,901					$	248,571					$	214,911					$	(69,199)					$	(79,928)					$	(5,441)
Net income			—						—						—						15,511						—						—						—
Restricted stock issuances			52						6						789						—						—						—						—
Unamortized compensation expense related to restricted stock awards			—						—						(794)						—						—						—						—
Cash dividends declared, $0.01 per common share			—						—						—						(589)						—						—						—
Compensation expense related to stock awards			—						—						1,548						—						—						—						—
Pension liability adjustment			—						—						—						—						100						—						—
Foreign currency translation adjustment			—						—						—						—						—						3,455						—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge			—						—						—						—						—						—						745
Balance, at July 4, 2021			59,066						$	5,907					$	250,114					$	229,833					$	(69,099)					$	(76,473)					$	(4,696)
Net income			—						—						—						10,959						—						—						—
Cash dividends declared, $0.01 per common share			—						—						—						(593)						—						—						—
Compensation expense related to stock awards, net of forfeitures			(11)						(2)						1,680						—						—						—						—
Pension liability adjustment			—						—						—						—						2,377						—						—
Foreign currency translation adjustment			—						—						—						—						—						(14,553)						—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge			—						—						—						—						—						—						1,323
Balance, at October 3, 2021			59,055						$	5,905					$	251,794					$	240,199					$	(66,722)					$	(91,026)					$	(3,373)

Schedule of Restricted Stock Outstanding and Activity

The following table summarizes restricted stock outstanding as of October 2, 2022, as well as activity during the nine months then ended:

			Restricted Shares						Weighted Average Grant Date Fair Value
Outstanding at January 2, 2022			683,800						$	21.06
Granted			500,800						13.08
Vested			(141,900)						16.59
Forfeited or canceled			(30,400)						14.05
Outstanding at October 2, 2022			1,012,300						$	13.91

Schedule of Performance Shares Outstanding and Activity

The following table summarizes the performance shares outstanding as of October 2, 2022, as well as the activity during the nine months then ended:

			Performance Shares						Weighted Average Grant Date Fair Value
Outstanding at January 2, 2022			718,100						$	14.98
Granted			366,900						13.02
Vested			(200)						15.36
Forfeited or canceled			(154,400)						16.73
Outstanding at October 2, 2022			930,400						$	13.91

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

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Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.

+ References

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