Stockholders' Equity

12 Months Ended

Jan. 02, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

The authorized capital stock of the Company is 100,000,000 shares of Class A common stock and 10,000,000 shares of Class B common stock. Class A shares have no voting rights and are not convertible. Class B shares have voting rights and are convertible by the holder into Class A shares on a share-for-share basis at any time. Both classes of stock have identical rights in the event of liquidation. The voting rights of Class B shares are perpetual and Class B shares are not subject to transfer restrictions or mandatory conversion obligations under the Company's certificate of incorporation or bylaws.

Class A shares and Class B shares are both entitled to receive dividends, subject to the limitation that no cash dividend on the Class B shares may be declared unless the board of directors declares an equal or larger cash dividend on the Class A shares. As a result, a cash dividend may be declared on the Class A shares without declaring a cash dividend on the Class B shares.

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component, net of tax, during 2021, 2020 and 2019 are included in the table below. Amounts in parentheses indicate debits.

	2021			2020			2019
	(In millions of dollars)
Foreign currency translation adjustments:
Beginning balance	$	(0.8)		$	(13.2)		$	(15.7)
Other comprehensive income (loss) before classifications	(24.2)			13.9			2.5
Amounts reclassified from accumulated other comprehensive income	—		(1)	(1.5)		(1)	—		(1)
Net current-period other comprehensive income (loss)	(24.2)			12.4			2.5
Ending balance	(25.0)			(0.8)			(13.2)
Pension liability adjustments:
Beginning balance	(3.4)			(2.6)			(1.4)
Other comprehensive income (loss) before classifications	0.5			(0.9)			(1.3)
Amounts reclassified from accumulated other comprehensive income	0.2		(2)	0.1		(2)	0.1		(2)
Net current-period other comprehensive income (loss)	0.7			(0.8)			(1.2)
Ending balance	(2.7)			(3.4)			(2.6)
Total accumulated other comprehensive income (loss)	$	(27.7)		$	(4.2)		$	(15.8)

(1)Amount was recorded in the other income (expense), net line item in the consolidated statements of earnings.

(2)Amount was recorded in the SG&A expenses line item in the consolidated statements of earnings.