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Shareholders' Equity | 3 Months Ended
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Mar. 27, 2026
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | 8. Shareholders’ Equity Treasury Stock and Tender Offer On July 30, 2002, the Company announced that its Board of Directors approved the repurchase of the Company’s common stock through its share repurchase program. Since the inception of the repurchase plan, the Board of Directors has approved the repurchase of $373.8 million of the Company’s common stock. As of March 27, 2026, the Company had affected cumulative purchases under the plan of $351.8 million, leaving $22.0 million available for future purchases. In December 2025, the Company completed a tender offer through which 2.0 million shares were accepted for purchase for a total cost, inclusive of transaction related fees, of $41.3 million, or $20.29 per share, which represented approximately 7% of the Company's issued and outstanding stock at the time. The Company used $40.0 million in borrowings from its Credit Facility and cash on hand to fund the tender offer. During the three months ended March 27, 2026, the Company repurchased 212 thousand shares on the open market and from members of the Company's Board of Directors at an average price per share of $14.00 for a total cost of $3.0 million. This includes the Company's repurchase of 7 thousand shares from members of its Board of Directors at an average price per share of $15.22 for a total cost of $0.1 million. There is no expiration of the Company's repurchase authorization. Under the repurchase plan, the Company may buy back shares of its outstanding stock either on the open market or through privately negotiated transactions, subject to market conditions and trading restrictions. The Company holds repurchased shares of its common stock as treasury stock and accounts for treasury stock under the cost method. Shares purchased under the repurchase plan do not include shares withheld to satisfy withholding tax obligations. These withheld shares are never issued and in lieu of issuing the shares, taxes were paid on the employee’s behalf. During the three months ended March 27, 2026, the Company withheld and did not issue 121 thousand shares for a cost of $1.7 million. During the three months ended March 28, 2025, the Company withheld and did not issue 173 thousand shares for a cost of $5.5 million. The shares withheld for taxes are included under issuance of common stock in the accompanying consolidated statements of shareholders’ equity. Dividend Program During the three months ended March 27, 2026, the Company declared its first quarterly dividend to its shareholders for an aggregate of $3.0 million, which was paid in April 2026. These dividends were paid from U.S. domestic sources and are accounted for as a decrease to retained earnings. Subsequent to March 27, 2026, the Company declared its first quarter dividend in fiscal year 2026 to be paid in July 2026.

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