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Shareholders' Equity (Tables)
6 Months Ended
Jul. 04, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Shareholders' Equity
The following tables depict the activity in the accounts which make up shareholders’ equity for the three and six months ended July 4, 2021 and July 5, 2020:
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS
PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENTCASH FLOW
HEDGE
(in thousands)
Balance, at January 3, 202158,664 $5,865 $247,920 $208,562 $(69,288)$(60,331)$(6,190)
Net income— — — 6,938 — — — 
Restricted stock issuances376 38 5,277 — — — — 
Unamortized compensation expense related to restricted stock awards— — (5,315)— — — — 
Cash dividends declared, $0.01 per common share
— — — (589)— — — 
Compensation expense related to stock awards, net of forfeitures(26)(2)689 — — — — 
Pension liability adjustment— — — — 89 — — 
Foreign currency translation adjustment— — — — — (19,597)— 
Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge— — — — — — 749 
Balance, at April 4, 202159,014 $5,901 $248,571 $214,911 $(69,199)$(79,928)$(5,441)
Net income— — — 15,511 — — — 
Restricted stock issuances52 789 — — — — 
Unamortized compensation expense related to restricted stock awards— — (794)— — — — 
Cash dividends declared, $0.01 per common share
— — — (589)— — — 
Compensation expense related to stock awards— — 1,548 — — — — 
Pension liability adjustment— — — — 100 — — 
Foreign currency translation adjustment— — — — — 3,455 — 
Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge— — — — — — 745 
Balance, at July 4, 202159,066 $5,907 $250,114 $229,833 $(69,099)$(76,473)$(4,696)
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS
PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENTCASH FLOW
HEDGE
(in thousands)
Balance, at December 29, 201958,416 $5,842 $250,306 $286,056 $(56,700)$(113,139)$(4,163)
Net loss— — — (102,167)— — — 
Issuances of stock (other than restricted stock)220 22 197 — — — — 
Restricted stock issuances107 10 1,720 — — — — 
Unamortized compensation expense related to restricted stock awards— — (1,731)— — — — 
Cash dividends declared, $0.065 per common share
— — — (3,807)— — — 
Compensation expense related to stock awards, net of forfeitures(255)(25)(4,114)— — — — 
Pension liability adjustment— — — — 1,733 — — 
Foreign currency translation adjustment— — — — — (15,245)— 
Cash flow hedge unrealized loss— — — — — — (6,140)
Balance, at April 5, 202058,488 $5,849 $246,378 $180,082 $(54,967)$(128,384)$(10,303)
Net income— — — 4,709 — — — 
Issuances of stock (other than restricted stock)12 (1)— — — — 
Restricted stock issuances70 2,294 — — — — 
Unamortized compensation expense related to restricted stock awards— — (2,300)— — — — 
Cash dividends declared, $0.01 per common share
— — — (585)— — — 
Compensation expense related to stock awards, net of forfeitures(26)(3)(48)— — — — 
Pension liability adjustment— — — — (342)— — 
Foreign currency translation adjustment— — — — — 16,160 — 
Cash flow hedge unrealized loss— — — — — — (351)
Balance, at July 5, 202058,544 $5,854 $246,323 $184,206 $(55,309)$(112,224)$(10,654)
Schedule of Restricted Stock Outstanding and Activity
The following table summarizes restricted stock outstanding as of July 4, 2021, as well as activity during the six months then ended:
Restricted SharesWeighted Average
Grant Date
Fair Value
Outstanding at January 3, 2021436,900 $24.73 
Granted428,400 14.26 
Vested(167,200)13.68 
Forfeited or canceled(3,100)16.69 
Outstanding at July 4, 2021695,000 $20.97 
Schedule of Performance Shares Outstanding and Activity
The following table summarizes the performance shares outstanding as of July 4, 2021, as well as the activity during the six months then ended:
Performance SharesWeighted Average
Grant Date
Fair Value
Outstanding at January 3, 2021405,300 $16.94 
Granted296,900 14.15 
Vested— — 
Forfeited or canceled(47,500)23.42 
Outstanding at July 4, 2021654,700 $15.20