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SHAREHOLDERS' EQUITY
3 Months Ended
Mar. 27, 2022
Shareholders' Equity [Abstract]  
SHAREHOLDER’S EQUITY SHAREHOLDERS’ EQUITY
Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows:
Thirteen weeks ended
(in thousands)March 27,
2022
March 28,
2021
Common stock shares
Beginning balance34,861 35,493 
Purchases and retirement of common stock(1,327)— 
Net issuance under equity plans, including tax benefits74 (23)
Stock-based compensation— 
Ending balance33,608 35,474 
Common stock amount
Beginning balance$$
Current period activity— — 
Ending balance
Retained earnings
Beginning balance508,813 452,017 
Net income10,519 6,898 
Purchases and retirement of common stock (1)(36,326)— 
Net issuance under equity plans, including tax benefits(3,648)(2,300)
Stock-based compensation3,812 3,343 
Ending balance483,170 459,958 
Accumulated other comprehensive loss
Beginning balance, net of tax(15,747)(14,828)
Foreign currency translation adjustment127 496 
Ending balance, net of tax(15,620)(14,332)
Total shareholders’ equity ending balance$467,551 $445,627 
(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.