v3.24.3
Shareholders' equity (Tables)
 9 Months Ended
Sep. 29, 2024
Equity [Abstract]  
Reconciliation of Basic to Diluted Weighted Average Common Shares Outstanding The following table provides a reconciliation of basic to diluted weighted average number of common shares outstanding:
Three Months EndedNine Months Ended
September 29, 2024October 1, 2023September 29, 2024October 1, 2023
Basic46,724 46,992 46,995 46,974 
Dilutive effect of share-based awards288 307 261 330 
Diluted47,012 47,299 47,256 47,304 
Change in Accumulated Other Comprehensive Income (Loss)
The following tables provide information relating to the changes in accumulated other comprehensive loss, net of tax, for the nine months ended September 29, 2024 and October 1, 2023:
Cash Flow HedgesPension and Other Postretirement Benefit PlansForeign Currency Translation AdjustmentAccumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2023$1,396 $(88,049)$(227,752)$(314,405)
Other comprehensive (loss) income before reclassifications (1)
(6,249)8,280 (23,008)(20,977)
Amounts reclassified from accumulated other comprehensive (loss) income(2,677)79,819 — 77,142 
Net current-period other comprehensive (loss) income(8,926)88,099 (23,008)56,165 
Balance as of September 29, 2024$(7,530)$50 $(250,760)$(258,240)
(1)The foreign currency translation includes a loss of $19.7 million stemming from the measurement period adjustment related to our acquisition of Palette as described in Note 4.
 Cash Flow HedgesPension and Other Postretirement Benefit PlansForeign Currency Translation AdjustmentAccumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2022$4,931 $(135,799)$(272,654)$(403,522)
Other comprehensive income (loss) before reclassifications9,109 (76)(13,368)(4,335)
Amounts reclassified from accumulated other comprehensive income(8,320)4,027 — (4,293)
Net current-period other comprehensive income789 3,951 (13,368)(8,628)
Balance as of October 1, 2023$5,720 $(131,848)$(286,022)$(412,150)
Reclassification of Gain/Losses into Income/Expense, Net of Tax
The following table provides information relating to the location in the statements of operations and amount of reclassifications of losses/(gains) in accumulated other comprehensive (loss)/income into (income)/expense, net of tax, for the three and nine months ended September 29, 2024 and October 1, 2023:
Three Months EndedNine Months Ended
September 29, 2024October 1, 2023September 29, 2024October 1, 2023
(Gains) Loss on foreign exchange contracts:
Cost of goods sold$(589)$(3,499)$(2,698)$(8,734)
Total before tax(589)(3,499)(2,698)(8,734)
Taxes7 34 21 414 
Net of tax(582)(3,465)(2,677)(8,320)
Pension and other postretirement benefit items (1):
Actuarial (gains) losses(48)1,851 1,162 5,986 
Prior-service costs(492)(252)(1,475)(756)
Settlements— — 138,139 — 
Total before tax(540)1,599 137,826 5,230 
Tax benefit118 (368)(58,007)(1,203)
Net of tax(422)1,231 79,819 4,027 
Total reclassifications, net of tax$(1,004)$(2,234)$77,142 $(4,293)
(1) These accumulated other comprehensive (loss) income components are included in the computation of net benefit expense for pension and other postretirement benefit plans.