XML 38 R25.htm IDEA: XBRL DOCUMENT v3.20.1
SHAREHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 29, 2020
Shareholders' Equity [Abstract]  
Schedule of Stockholders Equity
Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows:
 
Thirteen weeks ended
(in thousands)
March 29,
2020
March 31,
2019
 
 
 
Common stock shares
 
 
Beginning balance
38,593

40,054

Purchases and retirement of common stock
(2,930
)
(234
)
Issuances under equity plans, including tax benefits
415

308

Stock-based compensation
50

24

Ending balance
36,128

40,152

 
 
 
Common stock amount
 
 
Beginning balance
$
1

$
1

Current period activity
—

—

Ending balance
1

1

 
 
 
Retained earnings
 
 
Beginning balance
639,210

606,087

Net income (loss)
(150,494
)
8,276

Purchases and retirement of common stock (1)
(52,346
)
(5,303
)
Issuances under equity plans, including tax benefits
(1,471
)
(1,057
)
Stock-based compensation
1,507

3,606

Change in accounting standard cumulative-effect adjustment (2)
(602
)
—

Ending balance
435,804

611,609

 
 
 
Accumulated other comprehensive loss
 
 
Beginning balance, net of tax
(13,238
)
(14,649
)
Foreign currency translation adjustment
(6,625
)
1,326

Ending balance, net of tax
(19,863
)
(13,323
)
 
 
 
Total shareholders’ equity ending balance
$
415,942

$
598,287

(1)
Under applicable Washington State law, shares purchased are not displayed separately as treasury stock on our Consolidated Balance Sheets and are treated as authorized but unissued shares. It is our accounting policy to first record these purchases as a reduction to our common stock account. Once the common stock account has been reduced to a nominal balance, remaining purchases are recorded as a reduction to our retained earnings. Furthermore, activity in our common stock account related to stock-based compensation is also recorded to retained earnings until such time as the reduction to retained earnings due to stock repurchases has been recovered.
(2)
As a result of our adoption of the accounting standard for credit losses, we recognized a cumulative-effect adjustment to retained earnings of $0.6 million in the first quarter of 2020.