XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.23.1

Earnings (Loss) Per Share | 3 Months Ended
--- | ---
Apr. 02, 2023
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | Earnings (Loss) Per Share The reconciliation of basic and diluted earnings (loss) per share on common stock for the first quarter 2023 and 2022 follows (in millions of dollars except per share data):
| First Quarter |  |
| 2023 |  | 2022 |  |  |  |
Net earnings (loss) | $ | 10.9 |  |  | $ | (47.6) |  |  |  |  |
Less: earnings allocated to participating securities | (0.2) |  |  | — |  |  |  |  |
Net earnings (loss) available to common shareholders | $ | 10.7 |  |  | $ | (47.6) |  |  |  |  |
Average shares outstanding (millions): |  |  |  |  |  |  |
Basic | 37.1 |  |  | 38.6 |  |  |  |  |
Dilutive share awards | 0.3 |  |  | — |  |  |  |  |
Diluted | 37.4 |  |  | 38.6 |  |  |  |  |
Basic earnings (loss) per share | $ | 0.29 |  |  | $ | (1.23) |  |  |  |  |
Diluted earnings (loss) per share | $ | 0.29 |  |  | $ | (1.23) |  |  |  |  |
Dilutive share awards are related to deferred common stock related to the non-employee directors deferred compensation plan and performance shares for the first quarter of 2023 (see Stock-Based Compensation footnote for a description of performance shares). Due to our net loss in the first quarter of 2022, potentially dilutive shares primarily related to deferred common stock associated with the non-employee directors deferred compensation plan of 0.2 million shares had an anti-dilutive effect on diluted earnings per share and were excluded from the computation for the first quarter of 2022. Dividends paid per share for Class A and Class B common stock were $0.075 for the first quarter 2023 and $0.050 for the first quarter 2022. In connection with our $50.0 million Class A share repurchase program authorized by the Company's board of directors in November 2022, the Company repurchased 1,099,728 shares for $18.3 million during the first quarter of 2023. A total of $23.9 million remains available under the share repurchase program. The repurchase program expires in November 2023.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration