Stockholders' Deficit

8 Months Ended

Sep. 08, 2024

Federal Home Loan Banks [Abstract]

Stockholders' Deficit

4. Stockholders’ Deficit

The following table summarizes the changes in stockholders’ deficit for the third quarter of 2024.

													Accumulated
							Additional						Other
	Common Stock						Paid-in			Retained			Comprehensive
	Shares			Amount			Capital			Deficit			Loss
Balance at June 16, 2024		34,956,623		$	350		$	30,008		$	(3,916,008	)	$	(5,475	)
Net income		—			—			—			146,924			—
Dividends declared on common stock and equivalents ($1.51 per share)		—			—			—			(52,502	)		—
Issuance and cancellation of stock awards, net		3,466			—			—			—			—
Tax payments for restricted stock upon vesting		(3,029	)		(1	)		(1,445	)		—			—
Purchases of common stock		(443,302	)		(4	)		(39,572	)		(152,230	)		—
Exercise of stock options		16,612			—			3,202			—			—
Non-cash equity-based compensation expense		—			—			9,517			—			—
Currency translation adjustment		—			—			—			—			598
Balance at September 8, 2024		34,530,370		$	345		$	1,710		$	(3,973,816	)	$	(4,877	)

The following table summarizes the changes in stockholders’ deficit for the three fiscal quarters of 2024.

													Accumulated
							Additional						Other
	Common Stock						Paid-in			Retained			Comprehensive
	Shares			Amount			Capital			Deficit			Loss
Balance at December 31, 2023		34,726,182		$	347		$	2,801		$	(4,069,648	)	$	(3,867	)
Net income		—			—			—			414,726			—
Dividends declared on common stock and equivalents ($4.53 per share)		—			—			—			(158,565	)		—
Issuance and cancellation of stock awards, net		65,135			1			—			—			—
Tax payments for restricted stock upon vesting		(23,417	)		(1	)		(10,705	)		—			—
Purchases of common stock		(499,674	)		(5	)		(56,593	)		(160,329	)		—
Exercise of stock options		262,144			3			34,666			—			—
Non-cash equity-based compensation expense		—			—			31,541			—			—
Currency translation adjustment		—			—			—			—			(1,010	)
Balance at September 8, 2024		34,530,370		$	345		$	1,710		$	(3,973,816	)	$	(4,877	)

Subsequent to the end of the third quarter of 2024, on October 8, 2024, the Company’s Board of Directors declared a $1.51 per share quarterly dividend on its outstanding common stock for shareholders of record as of December 13, 2024 to be paid on December 27, 2024.

The following table summarizes the changes in stockholders’ deficit for the third quarter of 2023.

													Accumulated
							Additional						Other
	Common Stock						Paid-in			Retained			Comprehensive
	Shares			Amount			Capital			Deficit			Loss
Balance at June 18, 2023		35,057,585		$	351		$	3,370		$	(4,166,520	)	$	(3,767	)
Net income		—			—			—			147,676			—
Dividends declared on common stock and equivalents ($1.21 per share)		—			—			—			(42,493	)		—
Issuance and cancellation of stock awards, net		4,142			—			—			—			—
Tax payments for restricted stock upon vesting		(5,932	)		—			(2,172	)		—			—
Purchases of common stock		(229,860	)		(3	)		(14,435	)		(76,416	)		—
Exercise of stock options		53,188			1			4,754			—			—
Non-cash equity-based compensation expense		—			—			9,442			—			—
Currency translation adjustment		—			—			—			—			(1,330	)
Balance at September 10, 2023		34,879,123		$	349		$	959		$	(4,137,753	)	$	(5,097	)

The following table summarizes the changes in stockholders’ deficit for the three fiscal quarters of 2023.

													Accumulated
							Additional						Other
	Common Stock						Paid-in			Retained			Comprehensive
	Shares			Amount			Capital			Deficit			Loss
Balance at January 1, 2023		35,419,718		$	354		$	9,693		$	(4,194,418	)	$	(4,694	)
Net income		—			—			—			361,826			—
Dividends declared on common stock and equivalents ($3.63 per share)		—			—			—			(128,143	)		—
Issuance and cancellation of stock awards, net		32,715			—			—			—			—
Tax payments for restricted stock upon vesting		(15,601	)		—			(5,240	)		—			—
Purchases of common stock		(622,405	)		(6	)		(35,806	)		(177,018	)		—
Exercise of stock options		64,696			1			5,805			—			—
Non-cash equity-based compensation expense		—			—			26,507			—			—
Currency translation adjustment		—			—			—			—			(403	)
Balance at September 10, 2023		34,879,123		$	349		$	959		$	(4,137,753	)	$	(5,097	)