XML 32 R28.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Stockholders' Equity
12 Months Ended
Dec. 29, 2019
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity
 
Comprehensive Income:
The components of accumulated other comprehensive (loss) income consisted of the following:
 
 
Foreign
Currency
Translation
Adjustment,
net of tax
 
Unrecognized
Prior Service
Costs, net of
tax
 
Unrealized
(Losses)
Gains on
Securities,
net of tax
 
Accumulated
Other
Comprehensive
Income (Loss)
 
(In thousands)
Balance, January 1, 2017
$
(100,923
)
 
$
399

 
$
(337
)
 
$
(100,861
)
Current year change
54,341

 
(77
)
 
79

 
54,343

Balance, December 31, 2017
(46,582
)
 
322

 
(258
)
 
(46,518
)
Current year change
(123,388
)
 
(77
)
 
(9
)
 
(123,474
)
Reclassification to retained earnings upon adoption of ASU 2018-02
(6,489
)
 

 

 
(6,489
)
Balance, December 30, 2018
(176,459
)
 
245

 
(267
)
 
(176,481
)
Current year change
(23,978
)
 
807

 
6

 
(23,165
)
Balance, December 29, 2019
$
(200,437
)
 
$
1,052

 
$
(261
)
 
$
(199,646
)

During fiscal years 2019, 2018 and 2017, pre-tax credit (cost) of $0.8 million, $(0.1) million, and $(0.1) million, respectively, was reclassified from accumulated other comprehensive income into selling, general and administrative expenses as a component of net periodic pension cost.

Stock Repurchases:
On July 23, 2018, the Board of Directors (the "Board") authorized the Company to repurchase shares of common stock for an aggregate amount up to $250.0 million under a stock repurchase program (the "Repurchase Program"). The Repurchase Program will expire on July 23, 2020 unless terminated earlier by the Board and may be suspended or discontinued at any time. During fiscal year 2019, the Company had no stock repurchases under the Repurchase Program. As of December 29, 2019, $197.8 million remained available for aggregate repurchases of shares under the Repurchase Program.
     In addition, the Board has authorized the Company to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to the Company’s equity incentive plans and to satisfy obligations related to the exercise of stock options made pursuant to the Company's equity incentive plans. During the fiscal year 2019, the Company repurchased 68,536 shares of common stock for this purpose at an aggregate cost of $6.3 million. During fiscal year 2018, the Company repurchased 66,506 shares of common stock for this purpose at an aggregate cost of $5.2 million. During fiscal year 2017, the Company repurchased 78,644 shares of common stock for this purpose at an aggregate cost of $4.4 million. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.
 
Dividends:
The Board declared a regular quarterly cash dividend of $0.07 per share in each quarter of fiscal years 2019 and 2018. At December 29, 2019, the Company had accrued $7.8 million for a dividend declared on October 24, 2019 for the fourth quarter of fiscal year 2019 that was paid in February 2020. On January 23, 2020, the Company announced that the Board had declared a quarterly dividend of $0.07 per share for the first quarter of fiscal year 2020 that will be payable in May 2020. In the future, the Board may determine to reduce or eliminate the Company’s common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources.