Shareholders' Equity (Tables)

6 Months Ended

Jul. 03, 2022

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 3, 2022 and July 4, 2021:

	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		PENSION LIABILITY		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		CASH FLOW HEDGE
	(in thousands)
Balance, at January 2, 2022	59,055	$	5,905	$	253,110	$	261,434	$	(53,888)	$	(100,441)	$	(2,722)
Net income	—	—		—		13,293		—		—		—
Restricted stock issuances	303	30		3,966		—		—		—		—
Unamortized compensation expense related to restricted stock awards	—	—		(3,996)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(592)		—		—		—
Compensation expense related to stock awards, net of shares received for tax withholdings	(30)	(2)		1,787		—		—		—		—
Pension liability adjustment	—	—		—		—		1,539		—		—
Foreign currency translation adjustment	—	—		—		—		—		(13,184)		—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	—	—		—		—		—		—		641
Balance, at April 3, 2022	59,328	$	5,933	$	254,867	$	274,135	$	(52,349)	$	(113,625)	$	(2,081)
Net income	—	—		—		16,818		—		—		—
Restricted stock issuances	198	20		2,533		—		—		—		—
Unamortized compensation expense related to restricted stock awards	—	—		(2,553)		—		—		—		—
Cash dividends declared, $0.01 per common share	—	—		—		(595)		—		—		—
Compensation expense related to stock awards, net of forfeitures	(14)	(1)		2,145		—		—		—		—
Share repurchases	(415)	(42)		(5,540)		—		—		—		—
Pension liability adjustment	—	—		—		—		3,842		—		—
Foreign currency translation adjustment	—	—		—		—		—		(36,670)		—
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	—	—		—		—		—		—		540
Balance, at July 3, 2022	59,097	$	5,910	$	251,452	$	290,358	$	(48,507)	$	(150,295)	$	(1,541)

	SHARES	COMMON STOCK		ADDITIONAL PAID-IN CAPITAL		RETAINED EARNINGS		PENSION LIABILITY		FOREIGN CURRENCY TRANSLATION ADJUSTMENT		CASH FLOW HEDGE
	(in thousands)
Balance, at January 3, 2021	58,664	$	5,865	$	247,920	$	208,562	$	(69,288)	$	(60,331)	$	(6,190)
Net income	—	—		—		6,938		—		—		—
Restricted stock issuances	376	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 and shares received for tax withholdings	(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, 2021	59,014	$	5,901	$	248,571	$	214,911	$	(69,199)	$	(79,928)	$	(5,441)
Net income	—	—		—		15,511		—		—		—
Restricted stock issuances	52	6		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, 2021	59,066	$	5,907	$	250,114	$	229,833	$	(69,099)	$	(76,473)	$	(4,696)

Schedule of Restricted Stock Outstanding and Activity

The following table summarizes restricted stock outstanding as of July 3, 2022, as well as activity during the six months then ended:

	Restricted Shares	Weighted Average Grant Date Fair Value
Outstanding at January 2, 2022	683,800	$	21.06
Granted	500,800	13.08
Vested	(140,700)	16.60
Forfeited or canceled	(14,400)	14.09
Outstanding at July 3, 2022	1,029,500	$	17.89

Schedule of Performance Shares Outstanding and Activity

The following table summarizes the performance shares outstanding as of July 3, 2022, as well as the activity during the six months then ended:

	Performance Shares	Weighted Average Grant Date Fair Value
Outstanding at January 2, 2022	718,100	$	14.98
Granted	366,900	13.02
Vested	—	—
Forfeited or canceled	(132,800)	17.11
Outstanding at July 3, 2022	952,200	$	13.92