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Shareholders' Equity and Share-Based Compensation (Tables)

12 Months Ended

Dec. 29, 2022

Equity [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company estimated the fair value of stock options using the Black-Scholes option pricing model with the following assumptions used for awards granted during fiscal 2022, fiscal 2021 and fiscal 2020:

Year Ended

December 29, 2022

December 30, 2021

December 31, 2020

Risk-free interest rate

1.73 – 3.90%

0.97 – 1.26%

0.40 – 1.26%

Dividend yield

1.50%

1.50%

1.70 – 1.90%

Volatility

48 - 53%

28 – 53%

27 – 41%

Expected life

6 – 8 years

6 – 8 years

6 – 8 years

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the Company’s stock option activity and related information follows (shares in thousands):

			Year Ended
			December 29, 2022												December 30, 2021												December 31, 2020
			Options						Weighted- Average Exercise Price						Options						Weighted- Average Exercise Price						Options						Weighted- Average Exercise Price
Outstanding at beginning of period			2,533						$	24.84					2,234						$	24.87					1,641						$	25.46
Granted			501						16.99						531						21.74						728						23.47
Exercised			(68)						13.15						(134)						11.42						(31)						12.21
Forfeited			(100)						24.89						(98)						26.60						(104)						28.06
Outstanding at end of period			2,866						23.76						2,533						24.84						2,234						24.87
Exercisable at end of period			1,613						$	25.70					1,119						$	24.76					1,001						$	20.38
Weighted-average fair value of options granted during the period			$	7.71											$	9.47											$	5.96

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

Additional information as of December 29, 2022 related to options outstanding segregated by exercise price range is as follows (shares in thousands):

			Exercise Price Range
			$12.71 to $20.25						$20.26 to $27.00						$27.01 to $41.90
Options outstanding			1,067						895						904
Weighted-average exercise price of options outstanding			$	16.15					$	23.06					$	33.41
Weighted-average remaining contractual life of options outstanding			6.5						6.3						6.2
Options exercisable			480						473						660
Weighted-average exercise price of options exercisable			$	15.93					$	24.15					$	33.90

Schedule of Nonvested Share Activity

A summary of the Company’s non-vested stock activity and related information follows (shares in thousands):

			Year Ended
			December 29, 2022												December 30, 2021												December 31, 2020
			Shares						Weighted- Average Fair Value						Shares						Weighted- Average Fair Value						Shares						Weighted- Average Fair Value
Outstanding at beginning of period			357						$	23.32					147						$	31.02					174						$	29.16
Granted			100						17.63						251						19.63						42						31.43
Vested			(242)						22.95						(32)						30.69						(69)						26.56
Forfeited			(3)						22.93						(9)						19.77						—						—
Outstanding at end of period			212						$	21.07					357						$	23.32					147						$	31.02

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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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