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SHAREHOLDERS' EQUITY
9 Months Ended
Sep. 29, 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
Thirty-nine weeks ended
(in thousands)September 29,
2024
September 24,
2023
September 29,
2024
September 24,
2023
Common stock shares
Beginning balance29,959 30,996 31,246 32,730 
Purchases and retirement of common stock(478)— (1,967)(1,877)
Net issuance under equity plans, including tax benefits17 113 219 256 
Stock-based compensation— — — — 
Ending balance29,498 31,109 29,498 31,109 
Common stock amount
Beginning balance$$$$
Current period activity— — — — 
Ending balance
Retained earnings
Beginning balance358,312 473,809 478,584 516,332 
Net income (loss)(7,635)(10)(114,043)(11,622)
Purchases and retirement of common stock (1)(4,315)22 (21,301)(34,178)
Net issuance under equity plans, including tax benefits69 (1,051)(1,653)(3,056)
Stock-based compensation832 4,925 5,676 10,219 
Ending balance347,263 477,695 347,263 477,695 
Accumulated other comprehensive income (loss)
Beginning balance, net of tax(20,549)(19,765)(20,712)(20,018)
Foreign currency translation adjustment before reclassification
437 (1,305)1,573 (1,052)
Reclassified from accumulated other comprehensive income (loss) (2)
— — (973)— 
Foreign currency translation adjustment
437 (1,305)600 (1,052)
Ending balance, net of tax(20,112)(21,070)(20,112)(21,070)
Total shareholders’ equity ending balance$327,152 $456,626 $327,152 $456,626 
(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 PeopleReady Canada that were recognized through net income (loss) upon the divestiture of the business during the thirty-nine weeks ended September 29, 2024.