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SHAREHOLDERS' EQUITY
3 Months Ended
Mar. 31, 2024
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 31,
2024
March 26,
2023
Common stock shares
Beginning balance31,246 32,730 
Purchases and retirement of common stock(857)(1,357)
Net issuance under equity plans, including tax benefits165 134 
Stock-based compensation— — 
Ending balance30,554 31,507 
Common stock amount
Beginning balance$$
Current period activity— — 
Ending balance
Retained earnings
Beginning balance478,584 516,332 
Net income (loss)(1,698)(4,289)
Purchases and retirement of common stock (1)(10,067)(24,718)
Net issuance under equity plans, including tax benefits(1,788)(2,062)
Stock-based compensation2,102 2,630 
Ending balance467,133 487,893 
Accumulated other comprehensive income (loss)
Beginning balance, net of tax(20,712)(20,018)
Foreign currency translation adjustment before reclassification
915 (253)
Reclassified from accumulated other comprehensive income (loss) (2)
(973)— 
Foreign currency translation adjustment
(58)(253)
Ending balance, net of tax(20,770)(20,271)
Total shareholders’ equity ending balance$446,364 $467,623 
(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 and the related excise tax 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)Foreign currency translation adjustments related to Labour Ready Temporary Services, Ltd. that were recognized through net income (loss) upon the divestiture of the business during the thirteen weeks ended March 31, 2024.