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Stock-based and Deferred Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of compensation cost for share-based payment arrangements, allocation of share-based compensation costs by award type
The Company recognized stock-based compensation expense, net of capitalized expense, as follows for the periods indicated:
FISCAL YEAR
(dollars in thousands)202320222021
Performance-based share units (1)$3,089 $8,176 $13,821 
Restricted stock units7,910 7,687 8,184 
Stock options835 503 2,286 
Total stock-based compensation expense, net of capitalized expense$11,834 $16,366 $24,291 
________________
(1)For 2023 and 2022, includes a cumulative life-to-date adjustment to decrease expense for PSUs granted in fiscal years 2022 and 2020, respectively, based on revised Company projections of performance criteria set forth in the award agreements. For 2021, includes a cumulative life-to-date adjustment to increase expense for PSUs granted in fiscal years 2019, 2020 and 2021 based on Company performance against criteria set forth in the award agreements.
Performance-based share units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of nonvested performance-based units, activity
The following table presents a summary of the Company’s PSU activity:
(in thousands, except per unit data)PERFORMANCE-BASED SHARE UNITSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNITAGGREGATE
INTRINSIC VALUE (1)
Outstanding as of December 25, 2022874 $24.83 $18,323 
Granted301 $29.01 
Performance adjustment (2)154 $19.84 
Vested(470)$19.84 
Forfeited(41)$26.48 
Outstanding as of December 31, 2023818 $26.92 $23,026 
Expected to vest as of December 31, 2023 (3)765 $21,410 
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(1)Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.
(2)Represents adjustment to 148% payout for PSUs granted during 2020.
(3)Estimated number of units to be issued upon the vesting of outstanding PSUs based on Company performance projections of performance criteria set forth in the 2021, 2022 and 2023 PSU award agreements.
Monte Carlo schedule of assumptions used to calculate fair value of PSUs
Assumptions used in the Monte Carlo simulation model and the grant date fair value of PSUs granted were as follows for the periods indicated:
FISCAL YEAR
202320222021
Assumptions:
Risk-free interest rate (1)4.26 %1.64 %0.20 %
Dividend yield (2)3.47 %2.31 %— %
Volatility (3)51.02 %49.11 %48.45 %
Grant date fair value per unit (4)$29.01 $26.10 $29.73 
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(1)Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for the performance period of the unit.
(2)Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term.
(3)Based on the historical volatility of the Company’s stock over the last seven years.
(4)Represents a premium above the grant date per share value of the Company’s common stock for the Relative TSR modifier of 2.7%, 7.9% and 14.3% for grants during 2023, 2022 and 2021, respectively.
Schedule of employee service share-based compensation, allocation of recognized period costs
The following represents PSU compensation information for the periods indicated:
FISCAL YEAR
(dollars in thousands)202320222021
Intrinsic value for PSUs vested$12,908 $7,626 $3,768 
Grant date fair value of PSUs vested$9,332 $6,646 $3,401 
Tax benefits for PSU compensation expense$745 $348 $134 
Unrecognized PSU expense$6,520 
Remaining weighted average vesting period1.2 years
Restricted stock units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock-based compensation, restricted stock units, activity Following is a summary of the Company’s RSU activity:
(in thousands, except per unit data)RESTRICTED STOCK UNITSWEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNITAGGREGATE INTRINSIC VALUE (1)
Outstanding as of December 25, 2022657 $21.72 $13,776 
Granted406 $24.18 
Vested(393)$21.02 
Forfeited(39)$24.15 
Outstanding as of December 31, 2023 (2)631 $23.58 $17,757 
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(1)Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.
(2)All RSUs outstanding as of December 31, 2023 are expected to vest.
Schedule of employee service share-based compensation, allocation of recognized period costs
The following represents RSU compensation information for the periods indicated:
FISCAL YEAR
(dollars in thousands, except grant date fair value data)202320222021
Weighted average grant date fair value for RSUs granted (1)$24.18 $21.59 $25.93 
Intrinsic value of RSUs vested$10,275 $9,070 $13,482 
Grant date fair value of RSUs vested$8,257 $8,025 $9,434 
Tax benefits for RSU compensation expense$1,528 $1,113 $1,592 
Unrecognized RSU expense$9,315 
Remaining weighted average vesting period1.9 years
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(1)The weighted average dividend yield was 3.63% and 2.43% for 2023 and 2022, respectively. There were no dividends in 2021.
Stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation, stock options, activity
The following table presents a summary of the Company’s stock option activity:
(in thousands, except exercise price and contractual life data)OPTIONSWEIGHTED
AVERAGE
EXERCISE
PRICE		WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
LIFE (YEARS)		AGGREGATE
INTRINSIC
VALUE
Outstanding as of December 25, 20223,188 $21.43 4.0$3,337 
Exercised(1,455)$21.86 
Forfeited or expired(8)$25.35   
Outstanding and exercisable as of December 31, 2023 (1)1,725 $21.04 3.2$12,263 
________________
(1)No stock options were granted during 2023.
Schedule of employee service share-based compensation, allocation of recognized period costs
The following represents stock option compensation information for the periods indicated:
FISCAL YEAR
(dollars in thousands)202320222021
Intrinsic value of options exercised$6,200 $6,367 $8,419 
Cash received from option exercises, net of tax withholding$31,778 $17,888 $14,951 
Grant date fair value of stock options vested$1,037 $7,645 $19,246 
Tax benefits for stock option compensation expense$757 $1,495 $1,942