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Shareholders' Equity (Tables) | 3 Months Ended
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Apr. 02, 2023
Stockholders' Equity Note [Abstract] |
Schedule of Shareholders' Equity | The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended April 2, 2023 and April 3, 2022:
| SHARES |  | COMMON STOCK |  | ADDITIONAL PAID-IN CAPITAL |  | RETAINED EARNINGS |  | PENSION LIABILITY |  | FOREIGN CURRENCY TRANSLATION ADJUSTMENT |  | CASH FLOW HEDGE
| (in thousands)
Balance, at January 1, 2023 | 58,106 |  |  | $ | 5,811 |  |  | $ | 244,159 |  |  | $ | 278,639 |  |  | $ | (27,548) |  |  | $ | (138,775) |  |  | $ | (749) |
Net loss | — |  |  | — |  |  | — |  |  | (714) |  |  | — |  |  | — |  |  | — |
Issuances of stock related to performance shares | 79 |  |  | 8 |  |  | (8) |  |  | — |  |  | — |  |  | — |  |  | — |
Cash dividends declared, $0.01 per common share | — |  |  | — |  |  | — |  |  | (580) |  |  | — |  |  | — |  |  | — |
Compensation expense related to stock awards, net of forfeitures and shares received for tax withholdings | (132) |  |  | (14) |  |  | 1,850 |  |  | — |  |  | — |  |  | — |  |  | — |
Pension liability adjustment | — |  |  | — |  |  | — |  |  | — |  |  | (279) |  |  | — |  |  | — |
Foreign currency translation adjustment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,930 |  |  | — |
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 299 |
Balance, at April 2, 2023 | 58,053 |  |  | $ | 5,805 |  |  | $ | 246,001 |  |  | $ | 277,345 |  |  | $ | (27,827) |  |  | $ | (133,845) |  |  | $ | (450) |
| 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) |
Schedule of Restricted Stock Outstanding and Activity | The following table summarizes restricted stock outstanding as of April 2, 2023, as well as activity during the three months then ended:
| Restricted Shares |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023 | 1,006,400 |  |  | $ | 13.91 |
Granted | — |  |  | — |
Vested | (270,000) |  |  | 15.15 |
Forfeited or canceled | (6,800) |  |  | 13.54 |
Outstanding at April 2, 2023 | 729,600 |  |  | $ | 13.45 |
Schedule of Restricted Share Units Outstanding and Activity | The following table summarizes restricted share units outstanding as of April 2, 2023, as well as activity during the three months then ended:
| Restricted Share Units |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023 | — |  |  | $ | — |
Granted | 586,500 |  |  | 10.39 |
Vested | — |  |  | — |
Forfeited or canceled | — |  |  | — |
Outstanding at April 2, 2023 | 586,500 |  |  | $ | 10.39 |
Schedule of Performance Shares Outstanding and Activity | The following table summarizes the performance shares outstanding as of April 2, 2023, as well as the activity during the three months then ended:
| Performance Shares |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023 | 923,600 |  |  | $ | 13.91 |
Granted | 467,500 |  |  | 10.79 |
Vested | (79,400) |  |  | 15.16 |
Forfeited or canceled | (169,700) |  |  | 15.13 |
Outstanding at April 2, 2023 | 1,142,000 |  |  | $ | 12.36 |

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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644 + Details
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