Net Income per Common Share (Tables)

9 Months Ended

Sep. 28, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliations of Basic and Diluted Net Income per Common Share

The reconciliations of basic and diluted net income per common share for the three and nine months ended September 28, 2024 and September 30, 2023 are set forth in the table below (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Net income available to common shareholders,    basic and diluted	$	13,959	$	16,036	$	40,743	$	87,731
Weighted average number of common shares    outstanding, basic (1)		90,366		90,366		90,366		90,366
Effect of dilutive securities (1)		—		—		—		30
Weighted average number of common shares    outstanding, diluted (1)		90,366		90,366		90,366		90,396
Net income per common share:
Basic (1)	$	0.15	$	0.18	$	0.45	$	0.97
Diluted (1)	$	0.15	$	0.18	$	0.45	$	0.97

(1)The outstanding shares and per share amounts have been retrospectively adjusted to reflect the Common Stock Conversion. Refer to Note 1, Organization and Summary of Significant Accounting Policies, and Note 18, Subsequent Events, for further information.