SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 26, 2023

Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows:


	Thirteen weeks ended
(in thousands)	March 26, 2023		March 27, 2022

Common stock shares
Beginning balance	32,730		34,861
Purchases and retirement of common stock	(1,357)		(1,327)
Net issuance under equity plans, including tax benefits	134		74
Stock-based compensation	—		—
Ending balance	31,507		33,608

Common stock amount
Beginning balance	$	1	$	1
Current period activity	—		—
Ending balance	1		1

Retained earnings
Beginning balance	516,332		508,813
Net income (loss)	(4,289)		10,519
Purchases and retirement of common stock (1)	(24,718)		(36,326)
Net issuance under equity plans, including tax benefits	(2,062)		(3,648)
Stock-based compensation	2,630		3,812

Ending balance	487,893		483,170

Accumulated other comprehensive loss
Beginning balance, net of tax	(20,018)		(15,747)
Foreign currency translation adjustment	(253)		127
Ending balance, net of tax	(20,271)		(15,620)

Total shareholders’ equity ending balance	$	467,623	$	467,551

(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.