Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jan. 01, 2022

Quarterly Financial Information Disclosure [Abstract]

Schedule of selected quarterly financial data (Unaudited)

(in thousands, except per share data)
	2021								2020
	4Q(a)		3Q(b)		2Q(c)		1Q(d)		4Q(e)		3Q(f)		2Q(g)		1Q(h)
Net sales	$	553,065	$	539,581	$	523,488	$	463,794	$	400,696	$	391,566	$	307,337	$	346,096
Gross profit	199,492		214,572		197,396		160,466		138,083		138,831		99,902		124,356
Operating income (loss)	92,797		120,107		96,257		76,481		65,014		64,558		(11,950)		44,750
Net income (loss)	51,944		92,054		82,095		57,713		58,977		55,356		(8,991)		24,644
Net income (loss) per share
Basic	$	2.11	$	3.74	$	3.34	$	2.35	$	2.41	$	2.27	$	(0.37)	$	1.01
Diluted	$	2.08	$	3.69	$	3.30	$	2.32	$	2.39	$	2.25	$	(0.37)	$	1.00

(a)In the fourth quarter of 2021, the Company recorded non-cash pension settlement charge of 19.9 million, $4.1 million gain related to a sale of building, $3.6 million in acquisition-related and integration costs, $1.6 million for purchase accounting inventory adjustments associated with the acquisition of Carling, $0.7 million charge for an asset retirement obligation related to the disposal of a business in 2019, $0.2 million in restructuring, impairment and other charges, and $0.2 million increase in coal mining reserves.

(b)In the third quarter of 2021, the Company recorded $2.0 million in acquisition-related and integration costs, $0.8 million in restructuring, impairment and other charges and $0.1 million charge for an asset retirement obligation related to the disposal of a business in 2019.

(c)In the second quarter of 2021, the Company recorded $3.3 million for purchase accounting inventory adjustments associated with the acquisition of Hartland, and $1.0 million loss recorded during the second quarter of 2021 for a total year-to-date gain of $0.9 million from the sale of a building within the Electronics segment, $0.8 million in employee termination costs and other restructuring charges, $0.5 million in acquisition-related and integration costs, and $0.5 million of impairment charges on certain other investments.

(d)In the first quarter of 2021, the Company recorded the Company recorded $3.5 million for purchase accounting inventory adjustments associated with the acquisition of Hartland, $1.9 million gain related to a sale of building, $0.8 million in acquisition-related and integration costs, and $0.4 million in restructuring, impairment and other charges.

(e)In the fourth quarter of 2020, the Company recorded $0.7 million in acquisition-related and integration costs and $0.8 million in restructuring, impairment and other costs.

(f)In the third quarter of 2020, the Company recorded $1.3 million in restructuring, impairment and other charges, $0.3 million in acquisition-related and integration costs, and $0.1 million of impairment charges on certain other investments.

(g)In the second quarter of 2020, the Company recorded a goodwill impairment charge of $33.8 million associated with the automotive sensors reporting unit within the Transportation segment, $1.8 million in employee termination costs and other restructuring charges, $1.8 million increase to coal mining reserve, $0.2 million charge for an asset retirement obligation related to the disposal of a business in 2019, and $0.1 million in acquisition-related and integration costs.

(h)In the first quarter of 2020, the Company recorded $4.0 million in restructuring, impairment and other charges and $1.2 million in acquisition-related and integration costs.