Interface (TILE) 10-Q11 May 212021 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Apr. 04, 2021	May 07, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Apr. 4, 2021
Entity File Number	001-33994
Entity Registrant Name	INTERFACE INC
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-1451243
Entity Address, Address Line One	1280 West Peachtree Street
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30309
City Area Code	770
Local Phone Number	437-6800
Title of 12(b) Security	Common Stock, $0.10 Par Value Per Share
Trading Symbol	TILE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,013,341
Entity Central Index Key	0000715787
Amendment Flag	false
Current Fiscal Year End Date	--01-02
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Current Assets
Cash and cash equivalents	$ 106,923	$ 103,053
Accounts receivable, net	128,610	139,869
Inventories, net	243,067	228,725
Prepaid expenses and other current assets	38,827	23,747
Total current assets	517,427	495,394
Property, plant and equipment, net	348,632	359,036
Operating lease right-of-use assets	94,609	98,013
Deferred tax asset	15,007	18,175
Goodwill and intangibles, net	239,158	253,536
Other assets	80,493	81,857
Total assets	1,295,326	1,306,011
Current liabilities
Accounts payable	72,029	58,687
Accrued expenses	116,590	105,739
Current portion of operating lease liabilities	13,289	13,555
Current portion of long-term debt	15,176	15,319
Total current liabilities	217,084	193,300
Long-term debt	547,395	561,251
Operating lease liabilities	83,173	86,468
Deferred income taxes	32,462	34,307
Other long-term liabilities	100,397	104,147
Total liabilities	980,511	979,473
Commitments and Contingencies
Shareholders’ equity
Preferred stock, par value $1.00 per share; 5,000 shares authorized; none issued or outstanding at April 4, 2021 and January 3, 2021	0	0
Common stock, par value $0.10 per share; 120,000 shares authorized; 59,014 and 58,664 shares issued and outstanding at April 4, 2021 and January 3, 2021, respectively	5,901	5,865
Additional paid-in capital	248,571	247,920
Retained earnings	214,911	208,562
Accumulated other comprehensive loss – foreign currency translation	(79,928)	(60,331)
Accumulated other comprehensive loss – cash flow hedge	(5,441)
Accumulated other comprehensive loss – cash flow hedge		(6,190)
Accumulated other comprehensive loss – pension liability	(69,199)	(69,288)
Total shareholders’ equity	314,815	326,538
Total liabilities and shareholders’ equity	$ 1,295,326	$ 1,306,011

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Income Statement [Abstract]
NET SALES	$ 253,260	$ 288,169
Cost of Sales	157,222	173,858
GROSS PROFIT ON SALES	96,038	114,311
Selling, General and Administrative Expenses	79,302	87,683
Restructuring Charges	(130)	(1,118)
Goodwill and Intangible Asset Impairment	0	121,258
OPERATING INCOME (LOSS)	16,866	(93,512)
Interest Expense	7,256	5,630
Other Expense	715	1,491
INCOME (LOSS) BEFORE INCOME TAX EXPENSE	8,895	(100,633)
Income Tax Expense	1,957	1,534
NET INCOME (LOSS)	$ 6,938	$ (102,167)
Earnings (Loss) Per Share - Basic (in dollars per share)	$ 0.12	$ (1.75)
Earnings (Loss) Per Share - Diluted (in dollars per share)	$ 0.12	$ (1.75)
Weighted Average Common Shares Outstanding – Basic (in shares)	58,730	58,450
Weighted Average Common Shares Outstanding – Diluted (in shares)	58,730	58,452

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 6,938	$ (102,167)
Other Comprehensive Loss, Foreign Currency Translation Adjustment	(19,597)	(15,245)
Other Comprehensive Income (Loss), Cash Flow Hedge	749
Other Comprehensive Income (Loss), Cash Flow Hedge		(6,140)
Other Comprehensive Income, Pension Liability Adjustment	89	1,733
Comprehensive Loss	$ (11,821)	$ (121,819)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
OPERATING ACTIVITIES:
Net income (loss)	$ 6,938	$ (102,167)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization	11,934	10,940
Stock compensation amortization expense (benefit)	924	(2,932)
Deferred income taxes and other	230	(15,732)
Amortization of acquired intangible assets	1,421	1,315
Goodwill and Intangible Asset Impairment	0	121,258
Working capital changes:
Accounts receivable	9,794	28,635
Inventories	(19,046)	(22,514)
Prepaid expenses and other current assets	(15,852)	(7,464)
Accounts payable and accrued expenses	28,512	(27,056)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	24,855	(15,717)
INVESTING ACTIVITIES:
Capital expenditures	(5,214)	(22,204)
Other	0	(90)
CASH USED IN INVESTING ACTIVITIES	(5,214)	(22,294)
FINANCING ACTIVITIES:
Repayments of long-term debt	(30,239)	(19,875)
Borrowing of long-term debt	18,000	54,000
Tax withholding payments for share-based compensation	(179)	(1,344)
Proceeds from issuance of common stock	0	93
Debt issuance costs	(36)	0
Finance lease payments	(527)	(399)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(12,981)	32,475
Net cash provided by (used in) operating, investing and financing activities	6,660	(5,536)
Effect of exchange rate changes on cash	(2,790)	(3,114)
CASH AND CASH EQUIVALENTS:
Net change during the period	3,870	(8,650)
Balance at beginning of period	103,053	81,301
Balance at end of period	$ 106,923	$ 72,651

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Apr. 04, 2021	Jan. 03, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	59,014,000	58,664,000
Common stock, shares outstanding (in shares)	59,014,000	58,664,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Apr. 04, 2021
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10-Q, the following footnotes have been condensed and, therefore, do not contain all disclosures required in connection with annual financial statements. Reference should be made to the Company’s year-end financial statements and notes thereto contained in its Annual Report on Form 10-K for the fiscal year ended January 3, 2021, as filed with the Commission. The financial information included in this report has been prepared by the Company, without audit. In the opinion of management, the financial information included in this report contains all adjustments necessary for a fair presentation of the results for the interim periods. All such adjustments are of a normal recurring nature unless otherwise disclosed. Nevertheless, the results shown for interim periods are not necessarily indicative of results to be expected for the full year. The January 3, 2021, consolidated condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States (“GAAP”). The three month period ended April 4, 2021 includes 13 weeks, and the three month period ended April 5, 2020 includes 14 weeks. Risks and Uncertainties The World Health Organization declared the COVID-19 outbreak a pandemic in March 2020, and many companies have experienced disruptions in their operations. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that, except for the goodwill and intangible asset impairment recorded in the first quarter of 2020 and discussed in Note 10 “Goodwill and Intangible Assets,” the decline in 2021 revenue, and its consequent impacts on production volume, operating income, net income, cash flows, and order rates, there were no other material adverse impacts on the Company’s results of operations and financial position at April 4, 2021. The Company’s primary credit facility has various financial and other covenants including, but not limited to, a covenant to not exceed a maximum secured net debt to EBITDA ratio, as defined by the credit facility agreement. The Company is currently in compliance with all covenants under the credit facility agreement and anticipates that it will remain in compliance with the covenants for the foreseeable future. The full extent of the future impact of COVID-19 on the Company’s operations is uncertain. A prolonged COVID-19 pandemic may continue to have a material adverse impact on our operations, financial condition, and supply chains. It may negatively impact our ability to collect outstanding receivables, manage inventory, produce our products and service customers. The impact of COVID-19 could result in additional impairment losses related to goodwill, intangible assets, and property, plant and equipment. As the virus spreads through communities, it could impact the physical health, mental health, and productivity of our workforce as many of them are required to shelter in place and work from home for prolonged periods of time, and it could also impact our ability to reach our customers and collaborate with them as they are required to shelter in place and work from home for prolonged periods of time. The COVID-19 pandemic is having broad and negative implications on the global economy, which affects the size and timing of our customers’ capital budgets, and could result in delays or terminations of new and existing renovation projects, remodeling projects, new construction projects, and other projects where our products are used. COVID-19 Impact We continue to monitor our operations and have implemented various programs to mitigate the effects of COVID-19 on our business including reductions in employee headcount, labor costs, marketing expenses, consulting spend, travel costs, various other costs, and capital expenditures, as well as suspending and reducing shifts in our production facilities, temporarily furloughing employees, and implementing other cost reduction or avoidance initiatives. Reclassifications In the first quarter of fiscal 2021, the Company determined that it has two operating and reportable segments – namely Americas (“AMS”) and Europe, Africa, Asia and Australia (collectively “EAAA”). The AMS operating segment is unchanged from prior year and continues to include the United States, Canada and Latin America geographic areas. Segment disclosures for 2020 have been restated to conform to the current reportable segment structure. See Note 11 entitled “Segment Information” for additional information. Recently Adopted Accounting Pronouncements On January 4, 2021, the Company adopted Accounting Standards Update (“ASU”) 2019-12, “ Simplifying the Accounting for Income Taxes .” The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740 related to intraperiod tax allocation, the calculation of income taxes in interim periods, and the accounting for outside basis differences of foreign subsidiaries and equity method investments. The amendments also improve consistent application of and simplify GAAP for other areas of ASC Topic 740, including franchise or similar taxes partially based on income, the accounting for a step-up in tax basis goodwill, and interim recognition of an enacted change in tax laws or rates, by clarifying and amending existing guidance. The adoption of this standard did not have a material impact to the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting .” This standard addresses the risks from the discontinuation of the London Interbank Offered Rate (LIBOR) and provides optional expedients and exceptions to contracts, hedging relationships and other transactions that reference LIBOR if certain criteria are met. This new guidance is effective and may be applied beginning March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of adoption of this standard.
Reclassifications	Reclassifications In the first quarter of fiscal 2021, the Company determined that it has two operating and reportable segments – namely Americas (“AMS”) and Europe, Africa, Asia and Australia (collectively “EAAA”). The AMS operating segment is unchanged from prior year and continues to include the United States, Canada and Latin America geographic areas. Segment disclosures for 2020 have been restated to conform to the current reportable segment structure. See Note 11 entitled “Segment Information” for additional information.

Revenue Recognition

Revenue Recognition	3 Months Ended
Revenue Recognition	Apr. 04, 2021
Revenues [Abstract]
Revenue Recognition	REVENUE RECOGNITION Revenue from sales of carpet, modular resilient flooring, rubber flooring, and other flooring-related material was approximately 99% and 98% of total revenue for the three month periods ended April 4, 2021 and April 5, 2020, respectively. The remaining 1% and 2% of revenue was generated from the installation of carpet and other flooring-related material for the 2021 and 2020 three month periods, respectively. Disaggregation of Revenue For the three months ended April 4, 2021 and April 5, 2020, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Geography April 4, 2021 April 5, 2020 Americas 50.1% 54.9% Europe 35.1% 32.8% Asia-Pacific 14.8% 12.3% Revenue from the Company’s customers in the Americas corresponds to the AMS operating segment, and the EAAA operating segment includes revenue from the Europe and Asia-Pacific geographies. See Note 11 entitled “Segment Information” for additional information.

Inventories

Inventories	3 Months Ended
Inventories	Apr. 04, 2021
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are summarized as follows: April 4, 2021 January 3, 2021 (in thousands) Finished goods $ 169,213 $ 152,836 Work in process 15,743 17,109 Raw materials 58,111 58,780 Inventories, net $ 243,067 $ 228,725

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Apr. 04, 2021
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The Company computes basic earnings or loss per share (“EPS”) by dividing net income or loss by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings. The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in the basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were not distributed. The following tables show distributed and undistributed earnings: Three Months Ended Earnings (Loss) Per Share April 4, 2021 April 5, 2020 Basic Earnings (Loss) Per Share: Distributed earnings $ 0.01 $ 0.07 Undistributed earnings (loss) 0.11 (1.82) Total $ 0.12 $ (1.75) Diluted Earnings (Loss) Per Share: Distributed earnings $ 0.01 $ 0.07 Undistributed earnings (loss) 0.11 (1.82) Total $ 0.12 $ (1.75) Basic earnings (loss) per share $ 0.12 $ (1.75) Diluted earnings (loss) per share $ 0.12 $ (1.75) The following table presents net income that was attributable to participating securities: Three Months Ended April 4, 2021 April 5, 2020 (in millions) Net income attributable to participating securities $ 0.1 $ — The weighted average shares for basic and diluted EPS were as follows: Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Weighted average shares outstanding 57,979 58,060 Participating securities 751 390 Shares for basic earnings per share 58,730 58,450 Dilutive effect of stock options — 2 Shares for diluted earnings per share 58,730 58,452 For all periods presented, there were no stock options or participating securities excluded from the computation of diluted EPS.

Long-term Debt

Long-term Debt	3 Months Ended
Long-term Debt	Apr. 04, 2021
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT Long-term debt consisted of the following: April 4, 2021 January 3, 2021 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility: Revolving loan borrowings $ — 4.00 % $ 3,000 4.00 % Term loan borrowings 270,901 1.84 % 282,215 1.87 % Total borrowings under Syndicated Credit Facility 270,901 1.84 % 285,215 1.89 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 570,901 585,215 Less: Unamortized debt issuance costs (8,330) (8,645) Total debt, net 562,571 576,570 Less: Current portion of long-term debt (15,176) (15,319) Total long-term debt, net $ 547,395 $ 561,251 (1) Represents the stated rate of interest, without the effect of debt issuance costs or interest rate swaps. Syndicated Credit Facility The Syndicated Credit Facility (the “Facility”) provides the Company and certain of its subsidiaries a multicurrency revolving loan and U.S. denominated and multicurrency term loans. Interest on base rate loans is charged at varying rates computed by applying a margin depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on Eurocurrency-based loans and fees for letters of credit are charged at varying rates computed by applying a margin over the applicable Eurocurrency rate, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. In addition, the Company pays a commitment fee per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility. As of both April 4, 2021 and January 3, 2021, the Company had $1.6 million in letters of credit outstanding under the Facility. As of both April 4, 2021 and January 3, 2021, the carrying value of the Company’s borrowings under the Facility approximated its fair value as the Facility bears interest rates that are similar to existing market rates. Under the Facility, the Company is required to make quarterly amortization payments of the term loan borrowings, which are due on the last day of the calendar quarter. The Company is currently in compliance with all covenants under the Facility and anticipates that it will remain in compliance with the covenants for the foreseeable future. 5.50% Senior Notes due 2028 The 5.50% Senior Notes due 2028 (the “Senior Notes”) bear an interest rate at 5.50% per annum and mature on December 1, 2028. Interest is paid semi-annually on June 1 and December 1 of each year, beginning on June 1, 2021. The Senior Notes are unsecured and are guaranteed, jointly and severally, by each of the Company’s material domestic subsidiaries, all of which also guarantee the obligations of the Company under its existing Facility. As of April 4, 2021, the estimated fair value of the Senior Notes was $310.7 million, compared with a carrying value recorded in the Company’s consolidated condensed balance sheet of $300.0 million, excluding unamortized debt issuance costs. The fair value of the Senior Notes is derived using quoted prices for similar instruments and is considered Level 2 within the fair value hierarchy. Other Lines of Credit Subsidiaries of the Company had an aggregate of the equivalent of $6.0 million of other lines of credit available at interest rates ranging from 3.5% to 6.0% as of both April 4, 2021 and January 3, 2021. As of April 4, 2021 and January 3, 2021, there were no borrowings outstanding under these lines of credit. Borrowing Costs Debt issuance costs associated with the Company’s Senior Notes and term loans under the Facility are reflected as a reduction of long-term debt in accordance with applicable accounting standards. As these fees are expensed over the life of the outstanding borrowing, the debt balance will increase by the same amount as the fees that are expensed. As of April 4, 2021 and January 3, 2021, the unamortized debt issuance costs recorded as a reduction of long-term debt were $8.3 million and $8.6 million, respectively. Other deferred borrowing costs, which include underwriting, legal and other direct costs related to the issuance of revolving debt, net of accumulated amortization, were $1.9 million and $2.0 million as of April 4, 2021 and January 3, 2021, respectively. These amounts are included in other assets in the Company’s consolidated condensed balance sheets. The Company amortizes these costs over the life of the related debt.

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Apr. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVE INSTRUMENTS Interest Rate Risk Management From time to time, the Company enters into interest rate swap transactions to fix the variable interest rate on a portion of its term loan borrowing in order to manage a portion of its exposure to interest rate fluctuations. The Company’s objective and strategy with respect to these interest rate swaps is to protect the Company against adverse fluctuations in interest rates by reducing its exposure to variability to cash flows relating to interest payments on a portion of its outstanding debt. Cash Flow Interest Rate Swaps In the fourth quarter of 2020 the Company terminated its designated interest rate swap transactions with a total notional value of $250 million. Hedge accounting was also discontinued at that time. Losses recorded in accumulated other comprehensive income for these terminated interest rate swaps are reclassified and recorded in the consolidated condensed statement of operations to the extent it is probable that a portion of the original forecasted transactions related to the portion of the hedged debt repaid will not occur by the end of the originally specified time period. See Note 14 entitled “Items Reclassified From Accumulated Other Comprehensive Loss” for additional information. As of April 4, 2021 and January 3, 2021, the remaining accumulated other comprehensive loss associated with the terminated interest rate swaps was $7.6 million and $8.7 million, respectively, and will be amortized to earnings over the remaining term of the interest rate swaps prior to termination. We expect that approximately $4.1 million related to the terminated interest rate swaps will be reclassified from accumulated other comprehensive loss as an increase to interest expense in the next 12 months. The following table summarizes the impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss, net of tax, during the three months ended April 5, 2020: Three Months Ended April 5, 2020 (in thousands) Interest rate swap contracts loss $ (6,140) Derivative Transactions Not Designated as Hedging Instruments Our Asia-Pacific operations, from time to time, purchase foreign currency options to economically hedge inventory purchases denominated in foreign currencies other than their functional currency. The Company’s objective with respect to these foreign currency options is to protect the Company against adverse fluctuations in currency rates by reducing its exposure to variability in cash flows related to payment on inventory purchases. These options are classified as non-designated derivative instruments. Gains and losses on the changes in fair value of these foreign currency options are recognized in earnings each period. As of April 4, 2021, the Company had outstanding foreign currency options with an aggregate notional amount of $8.8 million. The table below sets forth the fair value of derivative instruments not designated as hedging instruments as of April 4, 2021 and January 3, 2021: Asset Derivatives Balance Sheet Location Fair Value as of April 4, 2021 Fair Value as of January 3, 2021 (in thousands) Foreign currency options Other current assets $ 21 $ 37 The following table summarizes gains and losses on derivatives not designated as hedging instruments within the consolidated condensed statements of operations for the three months ended April 4, 2021 and April 5, 2020: Three Months Ended Statement of Operations Location April 4, 2021 April 5, 2020 (in thousands) Foreign currency options gain Other expense $ 185 $ 1,700

Shareholders' Equity

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Apr. 04, 2021
Stockholders' Equity Note [Abstract]
Shareholders' Equity	SHAREHOLDERS’ EQUITY The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended April 4, 2021 and April 5, 2020: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (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) — — — Forfeitures and compensation expense related to stock awards (26) (2) 689 — — — — Pension liability adjustment — — — — 89 — — Foreign currency translation adjustment — — — — — (19,597) — Reclassification out of accumulated other comprehensive income - discontinued cash flow hedge — — — — — — 749 Balance, at April 4, 2021 59,014 $ 5,901 $ 248,571 $ 214,911 $ (69,199) $ (79,928) $ (5,441) SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (in thousands) Balance, at December 29, 2019 58,416 $ 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 issuances 107 10 1,720 — — — — Unamortized compensation expense related to restricted stock awards — — (1,731) — — — — Cash dividends declared, $0.065 per common share — — — (3,807) — — — Forfeitures and compensation expense related to stock awards (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, 2020 58,488 $ 5,849 $ 246,378 $ 180,082 $ (54,967) $ (128,384) $ (10,303) Stock Option Awards In accordance with accounting standards, the Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost will be recognized over the period in which the employee is required to provide the services – the requisite service period (usually the vesting period) – in exchange for the award. All outstanding stock options vested prior to the end of 2013, and therefore there was no stock option compensation expense in the first three months of 2021 or 2020. As of April 4, 2021, there were no stock options outstanding and exercisable. There were no stock options granted in the first three months of 2021 or 2020. There were no stock options exercised and no stock options forfeited in the first three months of 2021. There were 7,500 stock options exercised in the first three months of 2020 and no stock option forfeitures during those three months. Restricted Stock Awards During the three months ended April 4, 2021 and April 5, 2020, the Company granted restricted stock awards for 375,600 and 199,600 shares of common stock, respectively. Awards of restricted stock (or a portion thereof) vest with respect to each recipient over a one three Compensation expense (benefit) related to restricted stock grants was $0.7 million and $(0.7) million for the three months ended April 4, 2021, and April 5, 2020, respectively. The Company has reduced its expense for restricted stock forfeited during the period. The following table summarizes restricted stock outstanding as of April 4, 2021, as well as activity during the three months then ended: Restricted Shares Weighted Average Outstanding at January 3, 2021 436,900 $ 24.73 Granted 375,600 14.15 Vested (58,600) 24.09 Forfeited or canceled (3,100) 16.69 Outstanding at April 4, 2021 750,800 $ 19.52 As of April 4, 2021, the unrecognized total compensation cost related to unvested restricted stock was $7.5 million. That cost is expected to be recognized by the end of 2024. Performance Share Awards During the three months ended April 4, 2021 and April 5, 2020, the Company issued awards of performance shares to certain employees. These awards vest based on the achievement of certain performance-based goals over a performance period of one The following table summarizes the performance shares outstanding as of April 4, 2021, as well as the activity during the three months then ended: Performance Shares Weighted Average Outstanding at January 3, 2021 405,300 $ 16.94 Granted 296,900 14.15 Vested — — Forfeited or canceled (47,500) 23.42 Outstanding at April 4, 2021 654,700 $ 15.20 Compensation expense (benefit) related to the performance shares was $0.2 million and $(2.2) million for the three months ended April 4, 2021 and April 5, 2020, respectively. The Company has reduced its expense for performance shares forfeited during the period. Unrecognized compensation expense related to these performance shares was approximately $9.5 million as of April 4, 2021. Depending on the performance of the Company, any compensation expense related to these outstanding performance shares will be recognized by the end of 2024. The tax benefit recognized with regard to restricted stock and performance shares was approximately $0.2 million for the three months ended April 4, 2021.

Leases

Leases	3 Months Ended
Leases	Apr. 04, 2021
Leases [Abstract]
Leases	LEASES General The Company has operating and finance leases for manufacturing equipment, corporate offices, showrooms, distribution facilities, design centers, as well as computer and office equipment. The Company’s leases have terms ranging from 1 to 20 years, some of which may include options to extend the lease term for up to 5 years, and certain leases may include an option to terminate the lease. Our lease accounting may include these options to extend or terminate a lease when it is reasonably certain that we will exercise that option. The Company records a right-of-use asset and lease liability for leases extending beyond one year for operating and finance leases once a contract that contains a lease is executed and we have the right to control the use of the leased asset. The right-of-use asset is measured as the present value of the lease obligation. The discount rate used to calculate the present value of the lease liability was the Company’s incremental borrowing rate for the applicable geographical region. As of April 4, 2021, there were no significant leases that had not commenced as of the end of the first quarter. The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to our leases as of April 4, 2021 and January 3, 2021: April 4, 2021 January 3, 2021 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 94,609 $ 98,013 Current portion of operating lease liabilities $ 13,289 $ 13,555 Operating lease liabilities 83,173 86,468 Total operating lease liabilities $ 96,462 $ 100,023 Property, plant and equipment, net $ 6,835 $ 6,138 Accrued expenses $ 1,733 $ 1,496 Other long-term liabilities 3,148 2,688 Total finance lease liabilities $ 4,881 $ 4,184 Lease Costs Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 279 $ 300 Interest on lease liabilities 32 18 Operating lease cost 5,886 6,222 Short-term lease cost 463 175 Variable lease cost 806 646 Total lease cost $ 7,466 $ 7,361 Other Supplemental Information Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 32 $ 18 Operating cash flows from operating leases 5,200 5,881 Financing cash flows from finance leases 527 399 Right-of-use assets obtained in exchange for new finance lease liabilities 1,273 213 Right-of-use assets obtained in exchange for new operating lease liabilities 2,378 977 Lease Term and Discount Rate The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of April 4, 2021 and January 3, 2021: April 4, 2021 January 3, 2021 Weighted-average remaining lease term – finance leases (in years) 3.19 3.35 Weighted-average remaining lease term – operating leases (in years) 10.41 10.61 Weighted-average discount rate – finance leases 2.60 % 2.64 % Weighted-average discount rate – operating leases 5.98 % 5.98 % Maturity Analysis A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2021 (excluding the three months ended April 4, 2021) $ 14,250 $ 1,437 2022 16,036 1,519 2023 13,000 1,237 2024 10,889 712 2025 9,939 196 Thereafter 68,815 — Total future minimum lease payments (undiscounted) 132,929 5,101 Less: Present value discount (36,467) (220) Total lease liability $ 96,462 $ 4,881 Policy Elections The Company made an accounting policy election not to separate lease and non-lease components for all asset classes, except for data center assets, and will account for the lease payments as a single component. The Company also made an accounting policy election to exclude leases with an initial term of 12 months or less from the calculation of the right-of-use asset and lease liability recorded on the consolidated condensed balance sheets. These leases primarily represent month-to-month operating leases for vehicles and office equipment where we were reasonably certain that we would not elect an option to extend the lease.
Leases	LEASES General The Company has operating and finance leases for manufacturing equipment, corporate offices, showrooms, distribution facilities, design centers, as well as computer and office equipment. The Company’s leases have terms ranging from 1 to 20 years, some of which may include options to extend the lease term for up to 5 years, and certain leases may include an option to terminate the lease. Our lease accounting may include these options to extend or terminate a lease when it is reasonably certain that we will exercise that option. The Company records a right-of-use asset and lease liability for leases extending beyond one year for operating and finance leases once a contract that contains a lease is executed and we have the right to control the use of the leased asset. The right-of-use asset is measured as the present value of the lease obligation. The discount rate used to calculate the present value of the lease liability was the Company’s incremental borrowing rate for the applicable geographical region. As of April 4, 2021, there were no significant leases that had not commenced as of the end of the first quarter. The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to our leases as of April 4, 2021 and January 3, 2021: April 4, 2021 January 3, 2021 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 94,609 $ 98,013 Current portion of operating lease liabilities $ 13,289 $ 13,555 Operating lease liabilities 83,173 86,468 Total operating lease liabilities $ 96,462 $ 100,023 Property, plant and equipment, net $ 6,835 $ 6,138 Accrued expenses $ 1,733 $ 1,496 Other long-term liabilities 3,148 2,688 Total finance lease liabilities $ 4,881 $ 4,184 Lease Costs Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 279 $ 300 Interest on lease liabilities 32 18 Operating lease cost 5,886 6,222 Short-term lease cost 463 175 Variable lease cost 806 646 Total lease cost $ 7,466 $ 7,361 Other Supplemental Information Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 32 $ 18 Operating cash flows from operating leases 5,200 5,881 Financing cash flows from finance leases 527 399 Right-of-use assets obtained in exchange for new finance lease liabilities 1,273 213 Right-of-use assets obtained in exchange for new operating lease liabilities 2,378 977 Lease Term and Discount Rate The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of April 4, 2021 and January 3, 2021: April 4, 2021 January 3, 2021 Weighted-average remaining lease term – finance leases (in years) 3.19 3.35 Weighted-average remaining lease term – operating leases (in years) 10.41 10.61 Weighted-average discount rate – finance leases 2.60 % 2.64 % Weighted-average discount rate – operating leases 5.98 % 5.98 % Maturity Analysis A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2021 (excluding the three months ended April 4, 2021) $ 14,250 $ 1,437 2022 16,036 1,519 2023 13,000 1,237 2024 10,889 712 2025 9,939 196 Thereafter 68,815 — Total future minimum lease payments (undiscounted) 132,929 5,101 Less: Present value discount (36,467) (220) Total lease liability $ 96,462 $ 4,881 Policy Elections The Company made an accounting policy election not to separate lease and non-lease components for all asset classes, except for data center assets, and will account for the lease payments as a single component. The Company also made an accounting policy election to exclude leases with an initial term of 12 months or less from the calculation of the right-of-use asset and lease liability recorded on the consolidated condensed balance sheets. These leases primarily represent month-to-month operating leases for vehicles and office equipment where we were reasonably certain that we would not elect an option to extend the lease.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
Employee Benefit Plans	Apr. 04, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million during both three month periods ended April 4, 2021 and April 5, 2020. The following tables provide the components of net periodic benefit cost for the three months ended April 4, 2021 and April 5, 2020: Three Months Ended Defined Benefit Retirement Plans (Europe) April 4, 2021 April 5, 2020 (in thousands) Interest cost $ 572 $ 891 Expected return on assets (849) (1,064) Amortization of prior service cost 29 26 Amortization of net actuarial losses 404 326 Net periodic benefit cost $ 156 $ 179 Three Months Ended Salary Continuation Plan April 4, 2021 April 5, 2020 (in thousands) Interest cost $ 176 $ 234 Amortization of net actuarial losses 186 140 Net periodic benefit cost $ 362 $ 374 Three Months Ended nora Defined Benefit Plan April 4, 2021 April 5, 2020 (in thousands) Service cost $ 277 $ 258 Interest cost 103 111 Amortization of net actuarial losses 92 — Net periodic benefit cost $ 472 $ 369 In accordance with applicable accounting standards, the service cost component of net periodic benefit costs is presented within operating income (loss) in the consolidated condensed statements of operations, while all other components of net periodic benefit costs are presented within other expense in the consolidated condensed statements of operations.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Apr. 04, 2021
Goodwill [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS In the first quarter of 2021, the Company determined that it has two operating and reportable segments – namely AMS and EAAA. See Note 11 entitled “Segment Information” for additional information. The Company tests goodwill for impairment at least annually at the reporting unit level. The Company’s reporting units remain unchanged following the realignment of its segments and consist of Americas, Europe, and Asia-Pacific. The Americas reporting unit is the same as the AMS reportable segment, and the Europe and Asia-Pacific reporting units are one level below the EAAA reportable segment. During the first quarter of 2020, as a result of changes in macroeconomic conditions related to the COVID-19 pandemic, the Company recognized a charge of $121.3 million for the impairment of goodwill and certain intangible assets. As a result of the first quarter assessment, we determined that the fair value for two reporting units was less than the carrying value and recognized a goodwill impairment loss of $116.5 million in the first quarter of 2020. The expected decline in revenue due to the impact of COVID-19 contributed to the lower fair value of our Europe and Asia-Pacific reporting units. As such, the goodwill impairment loss was allocated to our Europe and Asia-Pacific reporting units in the amounts of $99.2 million and $17.3 million, respectively. There were no indicators of additional goodwill impairment as of April 4, 2021. The changes in the carrying amounts of goodwill for the three months ended April 4, 2021 are as follows: Goodwill (in thousands) Balance, at January 3, 2021 $ 165,777 Foreign currency translation (9,815) Balance, at April 4, 2021 $ 155,962 Additionally, we determined that the trademarks and trade names intangible assets related to the acquired nora business were also impaired and recognized an impairment loss of $4.8 million in the first quarter of 2020. The carrying value of intangible assets was $83.2 million at April 4, 2021. There were no indicators of additional intangible asset impairment as of the end of the first quarter of 2021.

Segment Information

Segment Information	3 Months Ended
Segment Information	Apr. 04, 2021
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company determines that an operating segment exists if a component (i) engages in business activities from which it earns revenues and incurs expenses, (ii) has operating results that are regularly reviewed by the chief operating decision maker (“CODM”) and (iii) has discrete financial information. Additionally, accounting standards require the utilization of a “management approach” to report the financial results of operating segments, which is based on information used by the CODM to assess performance and make operating and resource allocation decisions. In the first quarter of 2021, the Company largely completed its integration of the nora acquisition, and integration of its European and Asia-Pacific commercial areas and determined that it has two operating segments organized by geographical area – namely (a) Americas (“AMS”) and (b) Europe, Africa, Asia and Australia (collectively “EAAA”). The AMS operating segment is unchanged from prior year and continues to include the United States, Canada and Latin America geographic areas. Pursuant to the management approach discussed above, the Company’s CODM, our chief executive officer, evaluates performance at the AMS and EAAA operating segment levels and makes operating and resource allocation decisions based on segment adjusted operating income or loss (“AOI”), which includes allocations of corporate selling, general and administrative expenses. AOI excludes nora purchase accounting amortization, goodwill and intangible asset impairment charges, changes in equity award forfeiture accounting, restructuring charges, asset impairment, severance and other charges. Intersegment revenues for the three months ended April 4, 2021 and April 5, 2020 were $15.7 million and $19.5 million, respectively. Intersegment revenues are eliminated from net sales presented below since these amounts are not included in the information provided to the CODM. The Company has determined that it has two reportable segments – AMS and EAAA as each operating segment meets the quantitative thresholds defined in the accounting guidance. Segment information below for fiscal year 2020 has been restated to reflect our new reportable segment structure. Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Net Sales AMS $ 126,967 $ 158,091 EAAA 126,293 130,078 Total net sales $ 253,260 $ 288,169 Segment AOI AMS $ 11,913 $ 23,552 EAAA 8,011 5,798 Depreciation and Amortization AMS $ 4,723 $ 3,907 EAAA 7,211 7,033 Total depreciation and amortization $ 11,934 $ 10,940 A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: April 4, 2021 January 3, 2021 (in thousands) Assets AMS $ 795,007 $ 800,068 EAAA 679,240 682,295 Total segment assets $ 1,474,247 $ 1,482,363 Corporate assets 129,199 111,073 Eliminations (308,120) (287,425) Total reported assets $ 1,295,326 $ 1,306,011 A reconciliation of operating income to income (loss) before income tax expense and segment AOI is presented as follows: Three Months Ended April 4, 2021 April 5, 2020 (in thousands) AMS operating income $ 11,647 $ 20,100 EAAA operating income (loss) 5,219 (113,612) Consolidated operating income (loss) $ 16,866 $ (93,512) Interest expense 7,256 5,630 Other expense 715 1,491 Income (loss) before income tax expense $ 8,895 $ (100,633) Three Months Ended April 4, 2021 AMS EAAA (in thousands) Operating income $ 11,647 $ 5,219 Purchase accounting amortization — 1,421 Restructuring, asset impairment, severance and other charges 266 1,371 AOI $ 11,913 $ 8,011 Three Months Ended April 5, 2020 AMS EAAA (in thousands) Operating income (loss) $ 20,100 $ (113,612) Purchase accounting amortization — 1,315 Goodwill and intangible asset impairment 2,695 118,563 Impact of change in equity award forfeiture accounting 757 650 Restructuring, asset impairment, severance and other charges — (1,118) AOI $ 23,552 $ 5,798

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
Supplemental Cash Flow Information	Apr. 04, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Cash payments for interest amounted to $1.6 million and $6.6 million for the three months ended April 4, 2021 and April 5, 2020, respectively. Income tax payments, net of refunds, amounted to $3.2 million and $9.3 million for the three months ended April 4, 2021 and April 5, 2020, respectively. Non-Cash Investing and Financing Activities On March 16, 2021, the Company declared cash dividends on its common stock of $0.6 million, which were paid during the second quarter of 2021 to shareholders of record as of April 2, 2021. At April 4, 2021, the dividends were recorded within Accrued Expenses in the consolidated condensed balance sheet. See Note 8 entitled “Leases” for supplemental disclosures related to finance and operating leases.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Apr. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company determines its provision for income taxes for interim periods using an estimate of its annual effective tax rate and records any changes affecting the estimated annual effective tax rate in the interim period in which the change occurs, including discrete tax items. During the three months ended April 4, 2021, the Company recorded a total income tax provision of $2.0 million on pre-tax income of $8.9 million resulting in an effective tax rate of 22.0%, as compared to a total income tax provision of $1.5 million on a pre-tax loss of $100.6 million resulting in an effective tax rate of (1.5)% during the three months ended April 5, 2020. The effective tax rate for the period ended April 5, 2020 was primarily impacted by a non-deductible goodwill impairment. Excluding the impact of the goodwill impairment, the effective tax rate was 7.4% during the three months ended April 5, 2020. The increase in the effective tax rate as compared to the period ended April 5, 2020, excluding the non-deductible goodwill impairment, was due to the one-time favorable impacts of amending prior year tax returns during the three months ended April 5, 2020. In the first three months of 2021, the Company decreased its liability for unrecognized tax benefits by $0.8 million. The decrease was primarily due to settlements with taxing authorities and lapse of applicable statute of limitations. As of April 4, 2021, the Company had accrued approximately $10.0 million for unrecognized tax benefits. In accordance with applicable accounting standards, the Company’s deferred tax asset as of April 4, 2021 reflects a reduction for $3.0 million of these unrecognized tax benefits.

Items Reclassified From Accumul

Items Reclassified From Accumulated Other Comprehensive Loss	3 Months Ended
	Jan. 03, 2021
Equity [Abstract]
Items Reclassified From Accumulated Other Comprehensive Loss	ITEMS RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS Amounts reclassified out of accumulated other comprehensive income (loss) (“AOCI”), before tax, to the consolidated condensed statements of operations during the three months ended April 4, 2021 and April 5, 2020 are reflected in the table below: Three Months Ended Statement of Operations Location April 4, 2021 April 5, 2020 (in thousands) Interest rate swap contracts loss Interest expense $ (1,061) $ (492) Amortization of benefit plan prior service cost and net actuarial losses Other expense (711) (492) Total loss reclassified from AOCI, net $ (1,772) $ (984)

Restructuring Charges

Restructuring Charges	3 Months Ended
Restructuring Charges	Apr. 04, 2021
Restructuring and Related Activities [Abstract]
Restructuring Charges	RESTRUCTURING CHARGES A summary of restructuring activities for the 2019 restructuring plan is presented below: Workforce Reduction (in thousands) Balance, at January 3, 2021 $ 1,064 Charged to expenses (130) Deductions 474 Balance, at April 4, 2021 $ 460 For the three months ended April 4, 2021, the Company recorded a reduction of $0.1 million of previously recognized restructuring charges due to changes in expected cash payments. At April 4, 2021, the restructuring reserve was $0.5 million. Below is a discussion of the restructuring plan activities under the 2019 restructuring plan. 2019 Restructuring Plan On December 23, 2019, the Company committed to a new restructuring plan that continues to focus on efforts to improve efficiencies and decrease costs across its worldwide operations, and more closely align its operating structure with its business strategy. The plan involved a reduction of approximately 105 employees and early termination of two office leases. As a result of this plan, the Company recorded a pre-tax restructuring charge in the fourth quarter of 2019 of approximately $9.0 million. The charge was comprised of severance expenses ($8.8 million) and lease exit costs ($0.2 million). The restructuring plan was expected to result in cash expenditures of approximately $9.0 million for payment of the employee severance and lease exit costs, as described above. The Company expects to complete the restructuring plan in fiscal year 2021 and expects the plan to yield annualized savings of approximately $6.0 million. A portion of the annualized savings was realized on the income statement in fiscal year 2020, with the remaining portion of the annualized savings expected to be realized in fiscal year 2021.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Apr. 04, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10-Q, the following footnotes have been condensed and, therefore, do not contain all disclosures required in connection with annual financial statements. Reference should be made to the Company’s year-end financial statements and notes thereto contained in its Annual Report on Form 10-K for the fiscal year ended January 3, 2021, as filed with the Commission. The financial information included in this report has been prepared by the Company, without audit. In the opinion of management, the financial information included in this report contains all adjustments necessary for a fair presentation of the results for the interim periods. All such adjustments are of a normal recurring nature unless otherwise disclosed. Nevertheless, the results shown for interim periods are not necessarily indicative of results to be expected for the full year. The January 3, 2021, consolidated condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States (“GAAP”).
Risks and Uncertainties	Risks and Uncertainties The World Health Organization declared the COVID-19 outbreak a pandemic in March 2020, and many companies have experienced disruptions in their operations. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that, except for the goodwill and intangible asset impairment recorded in the first quarter of 2020 and discussed in Note 10 “Goodwill and Intangible Assets,” the decline in 2021 revenue, and its consequent impacts on production volume, operating income, net income, cash flows, and order rates, there were no other material adverse impacts on the Company’s results of operations and financial position at April 4, 2021. The Company’s primary credit facility has various financial and other covenants including, but not limited to, a covenant to not exceed a maximum secured net debt to EBITDA ratio, as defined by the credit facility agreement. The Company is currently in compliance with all covenants under the credit facility agreement and anticipates that it will remain in compliance with the covenants for the foreseeable future. The full extent of the future impact of COVID-19 on the Company’s operations is uncertain. A prolonged COVID-19 pandemic may continue to have a material adverse impact on our operations, financial condition, and supply chains. It may negatively impact our ability to collect outstanding receivables, manage inventory, produce our products and service customers. The impact of COVID-19 could result in additional impairment losses related to goodwill, intangible assets, and property, plant and equipment.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements On January 4, 2021, the Company adopted Accounting Standards Update (“ASU”) 2019-12, “ Simplifying the Accounting for Income Taxes .” The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740 related to intraperiod tax allocation, the calculation of income taxes in interim periods, and the accounting for outside basis differences of foreign subsidiaries and equity method investments. The amendments also improve consistent application of and simplify GAAP for other areas of ASC Topic 740, including franchise or similar taxes partially based on income, the accounting for a step-up in tax basis goodwill, and interim recognition of an enacted change in tax laws or rates, by clarifying and amending existing guidance. The adoption of this standard did not have a material impact to the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting .” This standard addresses the risks from the discontinuation of the London Interbank Offered Rate (LIBOR) and provides optional expedients and exceptions to contracts, hedging relationships and other transactions that reference LIBOR if certain criteria are met. This new guidance is effective and may be applied beginning March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of adoption of this standard.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
Revenue Recognition (Tables)	Apr. 04, 2021
Revenues [Abstract]
Disaggregation of Revenue	For the three months ended April 4, 2021 and April 5, 2020, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Geography April 4, 2021 April 5, 2020 Americas 50.1% 54.9% Europe 35.1% 32.8% Asia-Pacific 14.8% 12.3%

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Apr. 04, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: April 4, 2021 January 3, 2021 (in thousands) Finished goods $ 169,213 $ 152,836 Work in process 15,743 17,109 Raw materials 58,111 58,780 Inventories, net $ 243,067 $ 228,725

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Apr. 04, 2021
Earnings Per Share [Abstract]
Distributed and Undistributed Earnings	The following tables show distributed and undistributed earnings: Three Months Ended Earnings (Loss) Per Share April 4, 2021 April 5, 2020 Basic Earnings (Loss) Per Share: Distributed earnings $ 0.01 $ 0.07 Undistributed earnings (loss) 0.11 (1.82) Total $ 0.12 $ (1.75) Diluted Earnings (Loss) Per Share: Distributed earnings $ 0.01 $ 0.07 Undistributed earnings (loss) 0.11 (1.82) Total $ 0.12 $ (1.75) Basic earnings (loss) per share $ 0.12 $ (1.75) Diluted earnings (loss) per share $ 0.12 $ (1.75)
Schedule of Net Income Attributable to Participating Securities and Weighted Average Shares for Basic and Diluted EPS	The following table presents net income that was attributable to participating securities: Three Months Ended April 4, 2021 April 5, 2020 (in millions) Net income attributable to participating securities $ 0.1 $ — The weighted average shares for basic and diluted EPS were as follows: Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Weighted average shares outstanding 57,979 58,060 Participating securities 751 390 Shares for basic earnings per share 58,730 58,450 Dilutive effect of stock options — 2 Shares for diluted earnings per share 58,730 58,452

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
Long-term Debt (Tables)	Apr. 04, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: April 4, 2021 January 3, 2021 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility: Revolving loan borrowings $ — 4.00 % $ 3,000 4.00 % Term loan borrowings 270,901 1.84 % 282,215 1.87 % Total borrowings under Syndicated Credit Facility 270,901 1.84 % 285,215 1.89 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 570,901 585,215 Less: Unamortized debt issuance costs (8,330) (8,645) Total debt, net 562,571 576,570 Less: Current portion of long-term debt (15,176) (15,319) Total long-term debt, net $ 547,395 $ 561,251 (1) Represents the stated rate of interest, without the effect of debt issuance costs or interest rate swaps.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
Derivative Instruments (Tables)	Apr. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Loss	The following table summarizes the impact that changes in the fair value of derivatives designated as cash flow hedges had on accumulated other comprehensive loss, net of tax, during the three months ended April 5, 2020: Three Months Ended April 5, 2020 (in thousands) Interest rate swap contracts loss $ (6,140)
Schedule of Fair Value of Derivative Instruments	The table below sets forth the fair value of derivative instruments not designated as hedging instruments as of April 4, 2021 and January 3, 2021: Asset Derivatives Balance Sheet Location Fair Value as of April 4, 2021 Fair Value as of January 3, 2021 (in thousands) Foreign currency options Other current assets $ 21 $ 37
Derivatives Not Designated as Hedging Instruments	The following table summarizes gains and losses on derivatives not designated as hedging instruments within the consolidated condensed statements of operations for the three months ended April 4, 2021 and April 5, 2020: Three Months Ended Statement of Operations Location April 4, 2021 April 5, 2020 (in thousands) Foreign currency options gain Other expense $ 185 $ 1,700

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
Shareholders' Equity (Tables)	Apr. 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 months ended April 4, 2021 and April 5, 2020: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (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) — — — Forfeitures and compensation expense related to stock awards (26) (2) 689 — — — — Pension liability adjustment — — — — 89 — — Foreign currency translation adjustment — — — — — (19,597) — Reclassification out of accumulated other comprehensive income - discontinued cash flow hedge — — — — — — 749 Balance, at April 4, 2021 59,014 $ 5,901 $ 248,571 $ 214,911 $ (69,199) $ (79,928) $ (5,441) SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (in thousands) Balance, at December 29, 2019 58,416 $ 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 issuances 107 10 1,720 — — — — Unamortized compensation expense related to restricted stock awards — — (1,731) — — — — Cash dividends declared, $0.065 per common share — — — (3,807) — — — Forfeitures and compensation expense related to stock awards (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, 2020 58,488 $ 5,849 $ 246,378 $ 180,082 $ (54,967) $ (128,384) $ (10,303)
Schedule of Restricted Stock Outstanding and Activity	The following table summarizes restricted stock outstanding as of April 4, 2021, as well as activity during the three months then ended: Restricted Shares Weighted Average Outstanding at January 3, 2021 436,900 $ 24.73 Granted 375,600 14.15 Vested (58,600) 24.09 Forfeited or canceled (3,100) 16.69 Outstanding at April 4, 2021 750,800 $ 19.52
Schedule of Performance Shares Outstanding and Activity	The following table summarizes the performance shares outstanding as of April 4, 2021, as well as the activity during the three months then ended: Performance Shares Weighted Average Outstanding at January 3, 2021 405,300 $ 16.94 Granted 296,900 14.15 Vested — — Forfeited or canceled (47,500) 23.42 Outstanding at April 4, 2021 654,700 $ 15.20

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Apr. 04, 2021
Leases [Abstract]
Balance Sheet Information, Lessee	The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to our leases as of April 4, 2021 and January 3, 2021: April 4, 2021 January 3, 2021 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 94,609 $ 98,013 Current portion of operating lease liabilities $ 13,289 $ 13,555 Operating lease liabilities 83,173 86,468 Total operating lease liabilities $ 96,462 $ 100,023 Property, plant and equipment, net $ 6,835 $ 6,138 Accrued expenses $ 1,733 $ 1,496 Other long-term liabilities 3,148 2,688 Total finance lease liabilities $ 4,881 $ 4,184
Schedule of Lease Cost	Lease Costs Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 279 $ 300 Interest on lease liabilities 32 18 Operating lease cost 5,886 6,222 Short-term lease cost 463 175 Variable lease cost 806 646 Total lease cost $ 7,466 $ 7,361
Other Supplemental Information, Lessee	Other Supplemental Information Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 32 $ 18 Operating cash flows from operating leases 5,200 5,881 Financing cash flows from finance leases 527 399 Right-of-use assets obtained in exchange for new finance lease liabilities 1,273 213 Right-of-use assets obtained in exchange for new operating lease liabilities 2,378 977
Weighted Average Lease Term and Discount Rate, Lessee	The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of April 4, 2021 and January 3, 2021: April 4, 2021 January 3, 2021 Weighted-average remaining lease term – finance leases (in years) 3.19 3.35 Weighted-average remaining lease term – operating leases (in years) 10.41 10.61 Weighted-average discount rate – finance leases 2.60 % 2.64 % Weighted-average discount rate – operating leases 5.98 % 5.98 %
Lease Liability Maturity Schedule	A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2021 (excluding the three months ended April 4, 2021) $ 14,250 $ 1,437 2022 16,036 1,519 2023 13,000 1,237 2024 10,889 712 2025 9,939 196 Thereafter 68,815 — Total future minimum lease payments (undiscounted) 132,929 5,101 Less: Present value discount (36,467) (220) Total lease liability $ 96,462 $ 4,881
Lease Liability Maturity Schedule	A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2021 (excluding the three months ended April 4, 2021) $ 14,250 $ 1,437 2022 16,036 1,519 2023 13,000 1,237 2024 10,889 712 2025 9,939 196 Thereafter 68,815 — Total future minimum lease payments (undiscounted) 132,929 5,101 Less: Present value discount (36,467) (220) Total lease liability $ 96,462 $ 4,881

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
Employee Benefit Plans (Tables)	Apr. 04, 2021
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Costs	The following tables provide the components of net periodic benefit cost for the three months ended April 4, 2021 and April 5, 2020: Three Months Ended Defined Benefit Retirement Plans (Europe) April 4, 2021 April 5, 2020 (in thousands) Interest cost $ 572 $ 891 Expected return on assets (849) (1,064) Amortization of prior service cost 29 26 Amortization of net actuarial losses 404 326 Net periodic benefit cost $ 156 $ 179 Three Months Ended Salary Continuation Plan April 4, 2021 April 5, 2020 (in thousands) Interest cost $ 176 $ 234 Amortization of net actuarial losses 186 140 Net periodic benefit cost $ 362 $ 374 Three Months Ended nora Defined Benefit Plan April 4, 2021 April 5, 2020 (in thousands) Service cost $ 277 $ 258 Interest cost 103 111 Amortization of net actuarial losses 92 — Net periodic benefit cost $ 472 $ 369

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Apr. 04, 2021
Goodwill [Abstract]
Changes in Carrying Amounts of Goodwill	The changes in the carrying amounts of goodwill for the three months ended April 4, 2021 are as follows: Goodwill (in thousands) Balance, at January 3, 2021 $ 165,777 Foreign currency translation (9,815) Balance, at April 4, 2021 $ 155,962

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Apr. 04, 2021
Segment Reporting [Abstract]
Schedule of Operating Segment Information	Segment information below for fiscal year 2020 has been restated to reflect our new reportable segment structure. Three Months Ended April 4, 2021 April 5, 2020 (in thousands) Net Sales AMS $ 126,967 $ 158,091 EAAA 126,293 130,078 Total net sales $ 253,260 $ 288,169 Segment AOI AMS $ 11,913 $ 23,552 EAAA 8,011 5,798 Depreciation and Amortization AMS $ 4,723 $ 3,907 EAAA 7,211 7,033 Total depreciation and amortization $ 11,934 $ 10,940
Reconciliation of Assets from Segment to Consolidated	A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: April 4, 2021 January 3, 2021 (in thousands) Assets AMS $ 795,007 $ 800,068 EAAA 679,240 682,295 Total segment assets $ 1,474,247 $ 1,482,363 Corporate assets 129,199 111,073 Eliminations (308,120) (287,425) Total reported assets $ 1,295,326 $ 1,306,011
Reconciliation of Operating Income (Loss) from Segments to Consolidated	A reconciliation of operating income to income (loss) before income tax expense and segment AOI is presented as follows: Three Months Ended April 4, 2021 April 5, 2020 (in thousands) AMS operating income $ 11,647 $ 20,100 EAAA operating income (loss) 5,219 (113,612) Consolidated operating income (loss) $ 16,866 $ (93,512) Interest expense 7,256 5,630 Other expense 715 1,491 Income (loss) before income tax expense $ 8,895 $ (100,633) Three Months Ended April 4, 2021 AMS EAAA (in thousands) Operating income $ 11,647 $ 5,219 Purchase accounting amortization — 1,421 Restructuring, asset impairment, severance and other charges 266 1,371 AOI $ 11,913 $ 8,011 Three Months Ended April 5, 2020 AMS EAAA (in thousands) Operating income (loss) $ 20,100 $ (113,612) Purchase accounting amortization — 1,315 Goodwill and intangible asset impairment 2,695 118,563 Impact of change in equity award forfeiture accounting 757 650 Restructuring, asset impairment, severance and other charges — (1,118) AOI $ 23,552 $ 5,798

Items Reclassified From Accum_2

Items Reclassified From Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Apr. 04, 2021
Equity [Abstract]
Schedule of Items Reclassified out of Accumulated Other Comprehensive Loss	Amounts reclassified out of accumulated other comprehensive income (loss) (“AOCI”), before tax, to the consolidated condensed statements of operations during the three months ended April 4, 2021 and April 5, 2020 are reflected in the table below: Three Months Ended Statement of Operations Location April 4, 2021 April 5, 2020 (in thousands) Interest rate swap contracts loss Interest expense $ (1,061) $ (492) Amortization of benefit plan prior service cost and net actuarial losses Other expense (711) (492) Total loss reclassified from AOCI, net $ (1,772) $ (984)

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
Restructuring Charges (Tables)	Apr. 04, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	A summary of restructuring activities for the 2019 restructuring plan is presented below: Workforce Reduction (in thousands) Balance, at January 3, 2021 $ 1,064 Charged to expenses (130) Deductions 474 Balance, at April 4, 2021 $ 460

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	3 Months Ended
Revenue Recognition - Narrative (Details)	Apr. 04, 2021	Apr. 05, 2020
Carpet, Modular Resilient Flooring, and Related Products
Percent of revenue due to contracts with customers (percentage)	99.00%	98.00%
Installation of Carpet and Other Flooring Related Material
Percent of revenue due to contracts with customers (percentage)	1.00%	2.00%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details)	3 Months Ended
Revenue Recognition - Disaggregation of Revenue (Details)	Apr. 04, 2021	Apr. 05, 2020
Americas
Percentage of net sales	50.10%	54.90%
Europe
Percentage of net sales	35.10%	32.80%
Asia-Pacific
Percentage of net sales	14.80%	12.30%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 169,213	$ 152,836
Work in process	15,743	17,109
Raw materials	58,111	58,780
Inventories, net	$ 243,067	$ 228,725

Earnings Per Share - Distribute

Earnings Per Share - Distributed and Undistributed Earnings (Details) - $ / shares	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Basic Earnings (Loss) Per Share:
Distributed earnings (in dollars per share)	$ 0.01	$ 0.07
Undistributed earnings (Loss) (in dollars per share)	0.11	(1.82)
Basic earnings (loss) per share, total (in dollars per share)	0.12	(1.75)
Diluted Earnings (Loss) Per Share:
Distributed earnings (in dollars per share)	0.01	0.07
Undistributed earnings (Loss) (in dollars per share)	0.11	(1.82)
Diluted earnings (loss) per share, total (in dollars per share)	$ 0.12	$ (1.75)

Earnings Per Share - Net Income

Earnings Per Share - Net Income Attributable to Participating Securities and Weighted Average Shares for Basic and Diluted EPS (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Earnings Per Share, Two Class Method [Line Items]
Net income (loss)	$ 6,938	$ (102,167)
Weighted Average Shares Outstanding (in shares)	57,979	58,060
Participating Securities (in shares)	751	390
Shares for Basic Earnings Per Share (in shares)	58,730	58,450
Dilutive Effect of Stock Options (in shares)	0	2
Shares for Diluted Earnings Per Share (in shares)	58,730	58,452
Participating Securities
Earnings Per Share, Two Class Method [Line Items]
Net income (loss)	$ 100	$ 0

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
Earnings Per Share - Narrative (Details) - shares	Apr. 04, 2021	Apr. 05, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of EPS (in shares)	0	0

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 570,901	$ 585,215
Unamortized debt issuance costs, recorded as a reduction of long-term debt, net	(8,330)	(8,645)
Total debt, net	562,571	576,570
Current portion of long-term debt	(15,176)	(15,319)
Long-term debt	547,395	561,251
Syndicated Facility Agreement
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 270,901	$ 285,215
Weighted average interest rate on borrowings outstanding	1.84%	1.89%
Syndicated Facility Agreement \| Revolving loan facility
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0	$ 3,000
Long-term Debt, Bearing Variable Interest, Percentage Rate	4.00%	4.00%
Syndicated Facility Agreement \| Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 270,901	$ 282,215
Long-term Debt, Bearing Variable Interest, Percentage Rate	1.84%	1.87%
Senior Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 300,000	$ 300,000
Long-term Debt, Bearing Fixed Interest, Percentage Rate	5.50%	5.50%

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Long-term Debt - Narrative (Details) - USD ($)	Apr. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 570,901,000	$ 585,215,000
Unamortized debt issuance costs, recorded as a reduction of long-term debt, net	8,330,000	8,645,000
Other Line Of Credit
Debt Instrument [Line Items]
Revolving loan facility, maximum borrowing capacity	6,000,000	6,000,000
Revolving loan facility, borrowings outstanding	$ 0	$ 0
Other Line Of Credit \| Minimum
Debt Instrument [Line Items]
Revolving loan facility, interest rate (percentage)	3.50%	3.50%
Other Line Of Credit \| Maximum
Debt Instrument [Line Items]
Revolving loan facility, interest rate (percentage)	6.00%	6.00%
Syndicated Facility Agreement
Debt Instrument [Line Items]
Letters of credit outstanding	$ 1,600,000	$ 1,600,000
Long-term Debt, Gross	270,901,000	285,215,000
Unamortized debt issuance costs, revolving loan facility, net	1,900,000	2,000,000
Syndicated Facility Agreement \| Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	270,901,000	282,215,000
Term Loan and Senior Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs, recorded as a reduction of long-term debt, net	$ 8,300,000	8,600,000
Senior Notes
Debt Instrument [Line Items]
Interest Rate, Stated Percentage	5.50%
Long-term Debt, Gross	$ 300,000,000	$ 300,000,000
Long-term Debt, Fair Value	$ 310,700,000

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Jan. 03, 2021	Dec. 02, 2020
Interest rate swap
Derivative [Line Items]
Derivative, notional amount			$ 250
Gain (Loss) of Discontinued Cash Flow Hedge in AOCI	$ 7.6	$ 8.7
Cash flow hedge, amount expected to be reclassified in next twelve months	4.1
Foreign currency option
Derivative [Line Items]
Derivative, notional amount	$ 8.8

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges Included in Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Apr. 05, 2020USD ($)
Derivative instruments designated as hedging instruments \| Cash Flow Hedging \| Interest rate swap
Derivative [Line Items]
Interest rate swap contracts loss	$ (6,140)

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Derivative instruments not designated as hedging instruments \| Foreign currency option \| Other current assets
Derivative [Line Items]
Asset Derivatives	$ 21	$ 37

Derivative Instruments - Deriva

Derivative Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Derivative instruments not designated as hedging instruments \| Foreign currency option \| Other Expense
Derivative [Line Items]
Foreign currency options gain	$ 185	$ 1,700

Shareholders' Equity - Activity

Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	$ 326,538
Net income (loss)	6,938	$ (102,167)
Cash dividends declared	(600)
Pension liability adjustment	89	1,733
Foreign currency translation adjustment	(19,597)	(15,245)
Reclassification out of accumulated other comprehensive income - discontinued cash flow hedge	749
Cash flow hedge unrealized loss		$ (6,140)
Balance at end of period	$ 314,815
Cash dividends declared, per common share	$ 0.01	$ 0.065
COMMON STOCK
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	58,664	58,416
Balance at beginning of period	$ 5,865	$ 5,842
Issuances of stock (other than restricted stock) (in shares)		220
Issuances of stock (other than restricted stock)		$ 22
Restricted stock issuances (in shares)	376	107
Restricted stock issuances	$ 38	$ 10
Forfeitures and compensation expense related to stock awards (in shares)	(26)	(255)
Forfeitures and compensation expense related to stock awards	$ (2)	$ (25)
Balance at end of period (in shares)	59,014	58,488
Balance at end of period	$ 5,901	$ 5,849
ADDITIONAL PAID-IN CAPITAL
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	247,920	250,306
Issuances of stock (other than restricted stock)		197
Restricted stock issuances	5,277	1,720
Unamortized compensation expense related to restricted stock awards	(5,315)	(1,731)
Forfeitures and compensation expense related to stock awards	689	(4,114)
Balance at end of period	248,571	246,378
RETAINED EARNINGS
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	208,562	286,056
Net income (loss)	6,938	(102,167)
Cash dividends declared	(589)	(3,807)
Balance at end of period	214,911	180,082
PENSION LIABILITY
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(69,288)	(56,700)
Pension liability adjustment	89	1,733
Balance at end of period	(69,199)	(54,967)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(60,331)	(113,139)
Foreign currency translation adjustment	(19,597)	(15,245)
Balance at end of period	(79,928)	(128,384)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(6,190)
Reclassification out of accumulated other comprehensive income - discontinued cash flow hedge	749
Balance at end of period	$ (5,441)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period		(4,163)
Cash flow hedge unrealized loss		(6,140)
Balance at end of period		$ (10,303)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	3 Months Ended
Shareholders' Equity - Narrative (Details) - USD ($)	Apr. 04, 2021	Apr. 05, 2020
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense (benefit)	$ 0	$ 0
Stock options outstanding (in shares)	0
Stock options granted in period (in shares)	0	0
Stock options exercised in period (in shares)	0	7,500
Stock options forfeited in period (in shares)	0	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense (benefit)	$ 700,000	$ (700,000)
Stock awards granted (in shares)	375,600	199,600
Unrecognized compensation expense related to unvested restricted stock	$ 7,500,000
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense (benefit)	$ 200,000	$ (2,200,000)
Stock awards granted (in shares)	296,900
Number of shares that may be issued in settlement of the performance shares to the award recipient, upper limit (percentage)	200.00%
Unrecognized compensation expense related to unvested performance share awards	$ 9,500,000
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock and Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense, tax benefit	$ 200,000

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock - $ / shares	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Shares
Outstanding at beginning of period (in shares)	436,900
Granted (in shares)	375,600	199,600
Vested (in shares)	(58,600)
Forfeited or canceled (in shares)	(3,100)
Outstanding at end of period (in shares)	750,800
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share)	$ 24.73
Granted, weighted average grant date fair value (in dollars per share)	14.15
Vested, weighted average grant date fair value (in dollars per share)	24.09
Forfeited or canceled, weighted average grant date fair value (in dollars per share)	16.69
Outstanding at end of period, weighted average grant date fair value (in dollars per share)	$ 19.52

Shareholders' Equity - Performa

Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares	3 Months Ended
	Apr. 04, 2021$ / sharesshares
Shares
Outstanding at beginning of period (in shares) \| shares	405,300
Granted (in shares) \| shares	296,900
Vested (in shares) \| shares	0
Forfeited or canceled (in shares) \| shares	(47,500)
Outstanding at end of period (in shares) \| shares	654,700
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 16.94
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	14.15
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	0
Forfeited or canceled, weighted average grant date fair value (in dollars per share) \| $ / shares	23.42
Outstanding at end of period, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 15.20

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
Leases - Narrative (Details)	Apr. 04, 2021
Lessee, Lease, Description [Line Items]
Lease renewal term	5 years
Minimum
Lessee, Lease, Description [Line Items]
Lease contract term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease contract term	20 years

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 94,609	$ 98,013
Current portion of operating lease liabilities	13,289	13,555
Operating lease liabilities	83,173	86,468
Total operating lease liabilities	96,462	100,023
Property, plant and equipment, net	6,835	6,138
Accrued expenses	1,733	1,496
Other long-term liabilities	3,148	2,688
Total finance lease liabilities	$ 4,881	$ 4,184

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Costs (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Apr. 05, 2020
Leases [Abstract]
Finance lease cost: Amortization of right-of-use assets	$ 279	$ 300
Finance lease cost: Interest on lease liabilities	32	18
Operating lease cost	5,886	6,222
Short-term lease cost	463	175
Variable lease cost	806	646
Total lease cost	$ 7,466	$ 7,361

Leases - Other Supplemental Inf

Leases - Other Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Statement of Financial Position [Abstract]
Operating cash flows from finance leases	$ 32	$ 18
Operating cash flows from operating leases	5,200	5,881
Financing cash flows from finance leases	527	399
Right-of-use assets obtained in exchange for new finance lease liabilities	1,273	213
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 2,378	$ 977

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Apr. 04, 2021	Jan. 03, 2021
Statement of Financial Position [Abstract]
Weighted-average remaining lease term – finance leases (in years)	3 years 2 months 8 days	3 years 4 months 6 days
Weighted-average remaining lease term – operating leases (in years)	10 years 4 months 28 days	10 years 7 months 9 days
Weighted-average discount rate – finance leases (percentage)	2.60%	2.64%
Weighted-average discount rate – operating leases (percentage)	5.98%	5.98%

Leases - Maturity of Lease Paym

Leases - Maturity of Lease Payments (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (excluding the three months ended April 4, 2021)	$ 14,250
2022	16,036
2023	13,000
2024	10,889
2025	9,939
Thereafter	68,815
Total future minimum lease payments (undiscounted)	132,929
Less: Present value discount	(36,467)
Total lease liability	96,462	$ 100,023
Finance Lease, Liability, Payment, Due [Abstract]
2021 (excluding the three months ended April 4, 2021)	1,437
2022	1,519
2023	1,237
2024	712
2025	196
Thereafter	0
Total future minimum lease payments (undiscounted)	5,101
Less: Present value discount	(220)
Total lease liability	$ 4,881	$ 4,184

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Multiemployer Plan, Employer Contribution	$ 0.7	$ 0.7

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 572	$ 891
Expected return on assets	(849)	(1,064)
Amortization of prior service cost	29	26
Amortization of net actuarial losses	404	326
Net periodic benefit cost	156	179
Salary Continuation Plan \| United States
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	176	234
Amortization of net actuarial losses	186	140
Net periodic benefit cost	362	374
nora Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Service cost	277	258
Interest cost	103	111
Amortization of net actuarial losses	92	0
Net periodic benefit cost	$ 472	$ 369

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Goodwill and Intangible Assets [Line Items]
Goodwill and Intangible Asset Impairment	$ 0	$ 121,258
Goodwill, Impairment Loss		116,500
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		4,800
Intangible Assets, Net (Excluding Goodwill)	$ 83,200
Europe
Goodwill and Intangible Assets [Line Items]
Goodwill, Impairment Loss		99,200
Asia-Pacific
Goodwill and Intangible Assets [Line Items]
Goodwill, Impairment Loss		$ 17,300

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Changes in Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Jan. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 155,962	$ 165,777
Goodwill, Foreign Currency Translation	$ (9,815)

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	3 Months Ended
Segment Information - Narrative (Details) $ in Millions	Apr. 04, 2021USD ($)	Apr. 05, 2020USD ($)
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2
Intersegment Revenues	$ 15.7	$ 19.5

Segment Information - Operating

Segment Information - Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Segment Reporting Information [Line Items]
Net sales	$ 253,260	$ 288,169
Depreciation and amortization	11,934	10,940
Operating Segments
Segment Reporting Information [Line Items]
Net sales	253,260	288,169
Depreciation and amortization	11,934	10,940
Operating Segments \| AMS
Segment Reporting Information [Line Items]
Net sales	126,967	158,091
AOI	11,913	23,552
Depreciation and amortization	4,723	3,907
Operating Segments \| EAAA
Segment Reporting Information [Line Items]
Net sales	126,293	130,078
AOI	8,011	5,798
Depreciation and amortization	$ 7,211	$ 7,033

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,295,326	$ 1,306,011
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,474,247	1,482,363
Operating Segments \| AMS
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	795,007	800,068
Operating Segments \| EAAA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	679,240	682,295
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	129,199	111,073
Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (308,120)	$ (287,425)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment AOI (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Segment Reporting, Reconciling Item for Operating Income (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	$ 16,866	$ (93,512)
Amortization of acquired intangible assets	1,421	1,315
Goodwill and Intangible Asset Impairment	0	121,258
Interest Expense	7,256	5,630
Other Expense	715	1,491
Income (Loss) from Continuing Operations before Income Tax Expense	8,895	(100,633)
Operating Segments
Segment Reporting, Reconciling Item for Operating Income (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	16,866	(93,512)
Interest Expense	7,256	5,630
Other Expense	715	1,491
Income (Loss) from Continuing Operations before Income Tax Expense	8,895	(100,633)
Operating Segments \| AMS
Segment Reporting, Reconciling Item for Operating Income (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	11,647	20,100
Amortization of acquired intangible assets	0	0
Goodwill and Intangible Asset Impairment		2,695
Impact of change in equity award forfeiture accounting		757
Restructuring, asset impairment, severance and other charges	266	0
AOI	11,913	23,552
Operating Segments \| EAAA
Segment Reporting, Reconciling Item for Operating Income (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	5,219	(113,612)
Amortization of acquired intangible assets	1,421	1,315
Goodwill and Intangible Asset Impairment		118,563
Impact of change in equity award forfeiture accounting		650
Restructuring, asset impairment, severance and other charges	1,371	(1,118)
AOI	$ 8,011	$ 5,798

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Supplemental Cash Flow Information [Abstract]
Cash payments for interest	$ 1.6	$ 6.6
Income tax payments, net of refunds	3.2	$ 9.3
Cash dividends declared on common stock	$ 0.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Apr. 05, 2020
Income Tax Disclosure [Abstract]
Income Tax Expense	$ 1,957	$ 1,534
Income (Loss) from Continuing Operations before Income Tax Expense	$ 8,895	$ (100,633)
Effective income tax rate, percent	22.00%	(1.50%)
Effective income tax rate, excluding non-deductible goodwill impairment, percent		7.40%
Unrecognized Tax Benefits, Period Increase (Decrease)	$ 800
Unrecognized tax benefits	10,000
Decrease in deferred tax assets	3,000
Decrease in unrecognized tax benefits reasonably possible within next 12 months	$ 1,800

Items Reclassified From Accum_3

Items Reclassified From Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Total loss reclassified from AOCI, net	$ (1,772)	$ (984)
Interest Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest rate swap contracts loss	(1,061)
Interest rate swap contracts loss		(492)
Other Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amortization of benefit plan prior service cost and net actuarial losses	$ (711)	$ (492)

Restructuring Charges - Summary

Restructuring Charges - Summary of Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Apr. 05, 2020	Dec. 29, 2019	Jan. 03, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve Balance	$ 500
Restructuring Charges	(130)	$ (1,118)
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 9,000
2019 Restructuring Plan \| Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve Balance	460			$ 1,064
Restructuring Charges	(130)		$ 8,800
Deductions	$ 474

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) $ in Thousands	Dec. 23, 2019USD ($)office	Apr. 04, 2021USD ($)	Apr. 05, 2020USD ($)	Dec. 29, 2019USD ($)	Jan. 03, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ (130)	$ (1,118)
Restructuring Reserve Balance		500
2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 9,000
Number of employees	105
Number of office leases \| office	2
Future cash expenditures for restructuring	$ 9,000
Expected savings from restructuring		6,000
2019 Restructuring Plan \| Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		(130)		8,800
Restructuring Reserve Balance		$ 460			$ 1,064
2019 Restructuring Plan \| Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 200