Interface (TILE) 10-Q10 Aug 212021 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jul. 04, 2021	Aug. 05, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jul. 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		59,054,937
Entity Central Index Key	0000715787
Amendment Flag	false
Current Fiscal Year End Date	--01-02
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Current assets
Cash and cash equivalents	$ 102,372	$ 103,053
Accounts receivable, net	146,938	139,869
Inventories, net	258,215	228,725
Prepaid expenses and other current assets	39,134	23,747
Total current assets	546,659	495,394
Property, plant and equipment, net	345,322	359,036
Operating lease right-of-use assets	94,316	98,013
Deferred tax asset	14,841	18,175
Goodwill and intangibles, net	240,332	253,536
Other assets	80,744	81,857
Total assets	1,322,214	1,306,011
Current liabilities
Accounts payable	82,393	58,687
Accrued expenses	118,900	105,739
Current portion of operating lease liabilities	13,116	13,555
Current portion of long-term debt	15,189	15,319
Total current liabilities	229,598	193,300
Long-term debt	541,395	561,251
Operating lease liabilities	83,034	86,468
Deferred income taxes	32,254	34,307
Other long-term liabilities	100,347	104,147
Total liabilities	986,628	979,473
Commitments and Contingencies
Shareholders’ equity
Preferred stock, par value $1.00 per share; 5,000 shares authorized; none issued or outstanding at July 4, 2021 and January 3, 2021	0	0
Common stock, par value $0.10 per share; 120,000 shares authorized; 59,066 and 58,664 shares issued and outstanding at July 4, 2021 and January 3, 2021, respectively	5,907	5,865
Additional paid-in capital	250,114	247,920
Retained earnings	229,833	208,562
Accumulated other comprehensive loss – foreign currency translation	(76,473)	(60,331)
Accumulated other comprehensive loss – cash flow hedge	(4,696)
Accumulated other comprehensive loss – cash flow hedge		(6,190)
Accumulated other comprehensive loss – pension liability	(69,099)	(69,288)
Total shareholders’ equity	335,586	326,538
Total liabilities and shareholders’ equity	$ 1,322,214	$ 1,306,011

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Income Statement [Abstract]
NET SALES	$ 294,785	$ 259,504	$ 548,045	$ 547,673
Cost of Sales	185,793	162,210	343,015	336,068
GROSS PROFIT ON SALES	108,992	97,294	205,030	211,605
Selling, General and Administrative Expenses	79,830	80,058	159,132	167,741
Restructuring Charges	(62)	(157)	(192)	(1,275)
Goodwill and Intangible Asset Impairment	0	0	0	121,258
OPERATING INCOME (LOSS)	29,224	17,393	46,090	(76,119)
Interest Expense	7,289	4,965	14,545	10,595
Other Expense	617	5,139	1,332	6,630
INCOME (LOSS) BEFORE INCOME TAX EXPENSE	21,318	7,289	30,213	(93,344)
Income Tax Expense	5,807	2,580	7,764	4,114
NET INCOME (LOSS)	$ 15,511	$ 4,709	$ 22,449	$ (97,458)
Earnings (Loss) Per Share - Basic (in dollars per share)	$ 0.26	$ 0.08	$ 0.38	$ (1.67)
Earnings (Loss) Per Share - Diluted (in dollars per share)	$ 0.26	$ 0.08	$ 0.38	$ (1.67)
Common Shares Outstanding – Basic (in shares)	59,041	58,484	58,885	58,466
Common Shares Outstanding – Diluted (in shares)	59,041	58,484	58,885	58,466

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 15,511	$ 4,709	$ 22,449	$ (97,458)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment	3,455	16,160	(16,142)	915
Other Comprehensive Income (Loss), Cash Flow Hedge	745		1,494
Other Comprehensive Income (Loss), Cash Flow Hedge		(351)		(6,491)
Other Comprehensive Income (Loss), Pension Liability Adjustment	100	(342)	189	1,391
Comprehensive Income (Loss)	$ 19,811	$ 20,176	$ 7,990	$ (101,643)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
OPERATING ACTIVITIES:
Net income (loss)	$ 22,449	$ (97,458)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	23,670	21,748
Stock compensation amortization expense (benefit)	2,472	(2,216)
Deferred income taxes and other	1,057	(17,364)
Amortization of acquired intangible assets	2,862	2,631
Goodwill and Intangible Asset Impairment	0	121,258
Working capital changes:
Accounts receivable	(8,816)	37,660
Inventories	(33,855)	(8,792)
Prepaid expenses and other current assets	(14,830)	1,005
Accounts payable and accrued expenses	40,109	(26,045)
CASH PROVIDED BY OPERATING ACTIVITIES	35,118	32,427
INVESTING ACTIVITIES:
Capital expenditures	(12,112)	(35,665)
Other	0	(29)
CASH USED IN INVESTING ACTIVITIES	(12,112)	(35,694)
FINANCING ACTIVITIES:
Repayments of long-term debt	(56,796)	(47,779)
Borrowing of long-term debt	38,000	70,000
Tax withholding payments for share-based compensation	(193)	(1,488)
Proceeds from issuance of common stock	0	93
Dividends paid	(1,178)	(4,392)
Debt issuance costs	(36)	0
Finance lease payments	(1,116)	(810)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(21,319)	15,624
Net cash provided by operating, investing and financing activities	1,687	12,357
Effect of exchange rate changes on cash	(2,368)	(1,814)
CASH AND CASH EQUIVALENTS:
Net change during the period	(681)	10,543
Balance at beginning of period	103,053	81,301
Balance at end of period	$ 102,372	$ 91,844

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Jul. 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)	59,066,000	58,664,000
Common stock, shares outstanding (in shares)	59,066,000	58,664,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jul. 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 six-month period ended July 4, 2021 includes 26 weeks, and the six-month period ended July 5, 2020 includes 27 weeks. The three-month periods ended July 4, 2021 and July 5, 2020 both include 13 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 revenue for the first six months of 2021 when excluding the impacts of foreign currency fluctuations, 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 July 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.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Jul. 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 98% of total revenue for both six-month periods ended July 4, 2021 and July 5, 2020. The remaining 2% of revenue was generated from the installation of carpet and other flooring-related material for both 2021 and 2020 six-month periods. Disaggregation of Revenue For the six months ended July 4, 2021 and July 5, 2020, revenue from the Company’s customers is broken down by geography as follows: Six Months Ended Geography July 4, 2021 July 5, 2020 Americas 51.8% 56.5% Europe 33.6% 30.4% Asia-Pacific 14.6% 13.1% 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	6 Months Ended
Inventories	Jul. 04, 2021
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are summarized as follows: July 4, 2021 January 3, 2021 (in thousands) Finished goods $ 172,581 $ 152,836 Work in process 21,791 17,109 Raw materials 63,843 58,780 Inventories, net $ 258,215 $ 228,725

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jul. 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 table shows the computation of basic and diluted EPS: Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands, except per share data) Numerator: Net income (loss) $ 15,511 $ 4,709 $ 22,449 $ (97,458) Less: distributed and undistributed earnings available to participating securities (192) (38) (229) (35) Distributed and undistributed earnings (loss) available to common shareholders $ 15,319 $ 4,671 $ 22,220 $ (97,493) Denominator: Weighted average shares outstanding 58,310 58,024 58,283 58,006 Participating securities 731 460 602 460 Shares for basic earnings per share 59,041 58,484 58,885 58,466 Dilutive effect of stock options — — — — Shares for diluted earnings per share 59,041 58,484 58,885 58,466 Basic earnings (loss) per share $ 0.26 $ 0.08 $ 0.38 $ (1.67) Diluted earnings (loss) per share $ 0.26 $ 0.08 $ 0.38 $ (1.67) For the three and six months ended July 5, 2020, there were 20,000 stock options in each respective period excluded from the computation of diluted EPS because the impact would be anti-dilutive.

Long-term Debt

Long-term Debt	6 Months Ended
Long-term Debt	Jul. 04, 2021
Debt Disclosure [Abstract]
Long-term Debt	LONG-TERM DEBT Long-term debt consisted of the following: July 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 $ — — % $ 3,000 4.00 % Term loan borrowings 264,578 1.83 % 282,215 1.87 % Total borrowings under Syndicated Credit Facility 264,578 1.83 % 285,215 1.89 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 564,578 585,215 Less: Unamortized debt issuance costs (7,994) (8,645) Total debt, net 556,584 576,570 Less: Current portion of long-term debt (15,189) (15,319) Total long-term debt, net $ 541,395 $ 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 July 4, 2021 and January 3, 2021, the Company had $1.6 million in letters of credit outstanding under the Facility. As of both July 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 July 4, 2021, the estimated fair value of the Senior Notes was $315.1 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 July 4, 2021 and January 3, 2021. As of July 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 July 4, 2021 and January 3, 2021, the unamortized debt issuance costs recorded as a reduction of long-term debt were $8.0 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 $1.8 million and $2.0 million as of July 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	6 Months Ended
Derivative Instruments	Jul. 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 loss for these terminated interest rate swaps are reclassified and recorded in the consolidated condensed statements 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 July 4, 2021 and January 3, 2021, the remaining accumulated other comprehensive loss associated with the terminated interest rate swaps was $6.5 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 $4.0 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 and six months ended July 5, 2020: Three Months Ended Six Months Ended July 5, 2020 July 5, 2020 (in thousands) Interest rate swap contracts loss $ (351) $ (6,491) 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 July 4, 2021, the Company had outstanding foreign currency options with an aggregate notional amount of $4.4 million. The table below sets forth the fair value of derivative instruments not designated as hedging instruments as of July 4, 2021 and January 3, 2021: Asset Derivatives Balance Sheet Location Fair Value as of July 4, 2021 Fair Value as of January 3, 2021 (in thousands) Foreign currency options Other current assets $ 3 $ 37 The following tables summarize gains and losses on derivatives not designated as hedging instruments within the consolidated condensed statements of operations for the three and six months ended July 4, 2021 and July 5, 2020: Three Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Foreign currency options gain (loss) Other expense $ 134 $ (1,629) Six Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Foreign currency options gain Other expense $ 319 $ 79

Shareholders' Equity

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Jul. 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 and six months ended July 4, 2021 and July 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) — — — Compensation expense related to stock awards, net of forfeitures (26) (2) 689 — — — — Pension liability adjustment — — — — 89 — — Foreign currency translation adjustment — — — — — (19,597) — Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge — — — — — — 749 Balance, at April 4, 2021 59,014 $ 5,901 $ 248,571 $ 214,911 $ (69,199) $ (79,928) $ (5,441) Net income — — — 15,511 — — — Restricted stock issuances 52 6 789 — — — — Unamortized compensation expense related to restricted stock awards — — (794) — — — — Cash dividends declared, $0.01 per common share — — — (589) — — — Compensation expense related to stock awards — — 1,548 — — — — Pension liability adjustment — — — — 100 — — Foreign currency translation adjustment — — — — — 3,455 — Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge — — — — — — 745 Balance, at July 4, 2021 59,066 $ 5,907 $ 250,114 $ 229,833 $ (69,099) $ (76,473) $ (4,696) 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) — — — Compensation expense related to stock awards, net of forfeitures (255) (25) (4,114) — — — — Pension liability adjustment — — — — 1,733 — — Foreign currency translation adjustment — — — — — (15,245) — Cash flow hedge unrealized loss — — — — — — (6,140) Balance, at April 5, 2020 58,488 $ 5,849 $ 246,378 $ 180,082 $ (54,967) $ (128,384) $ (10,303) Net income — — — 4,709 — — — Issuances of stock (other than restricted stock) 12 1 (1) — — — — Restricted stock issuances 70 7 2,294 — — — — Unamortized compensation expense related to restricted stock awards — — (2,300) — — — — Cash dividends declared, $0.01 per common share — — — (585) — — — Compensation expense related to stock awards, net of forfeitures (26) (3) (48) — — — — Pension liability adjustment — — — — (342) — — Foreign currency translation adjustment — — — — — 16,160 — Cash flow hedge unrealized loss — — — — — — (351) Balance, at July 5, 2020 58,544 $ 5,854 $ 246,323 $ 184,206 $ (55,309) $ (112,224) $ (10,654) 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 six months of 2021 or 2020. As of July 4, 2021, there were no stock options outstanding and exercisable. There were no stock options granted in the first six months of 2021 or 2020. There were no stock options exercised and no stock options forfeited in the first six months of 2021. There were 7,500 stock options exercised in the first six months of 2020 and no stock option forfeitures during those six months. Restricted Stock Awards During the six months ended July 4, 2021 and July 5, 2020, the Company granted restricted stock awards for 428,400 and 308,100 shares of common stock, respectively. Awards of restricted stock (or a portion thereof) vest with respect to each recipient over a one Compensation expense (benefit) related to restricted stock grants was $1.8 million and $(0.2) million for the six months ended July 4, 2021, and July 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 July 4, 2021, as well as activity during the six months then ended: Restricted Shares Weighted Average Outstanding at January 3, 2021 436,900 $ 24.73 Granted 428,400 14.26 Vested (167,200) 13.68 Forfeited or canceled (3,100) 16.69 Outstanding at July 4, 2021 695,000 $ 20.97 As of July 4, 2021, the unrecognized total compensation cost related to unvested restricted stock was $7.2 million. That cost is expected to be recognized by the end of 2024. Performance Share Awards During the six months ended July 4, 2021 and July 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 July 4, 2021, as well as the activity during the six 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 July 4, 2021 654,700 $ 15.20 Compensation expense (benefit) related to the performance shares was $0.7 million and $(2.0) million for the six months ended July 4, 2021 and July 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 $9.0 million as of July 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 $0.4 million for the six months ended July 4, 2021.

Leases

Leases	6 Months Ended
Leases	Jul. 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 July 4, 2021, there were no significant leases that had not commenced as of the end of the second quarter. The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 94,316 $ 98,013 Current portion of operating lease liabilities $ 13,116 $ 13,555 Operating lease liabilities 83,034 86,468 Total operating lease liabilities $ 96,150 $ 100,023 Property, plant and equipment, net $ 7,738 $ 6,138 Accrued expenses $ 1,862 $ 1,496 Other long-term liabilities 3,916 2,688 Total finance lease liabilities $ 5,778 $ 4,184 Lease Costs Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 305 $ 335 $ 584 $ 635 Interest on lease liabilities 35 16 67 34 Operating lease cost 5,914 6,759 11,800 12,981 Short-term lease cost 179 166 642 341 Variable lease cost 482 924 1,288 1,570 Total lease cost $ 6,915 $ 8,200 $ 14,381 $ 15,561 Other Supplemental Information Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 35 $ 16 $ 67 $ 34 Operating cash flows from operating leases 5,476 5,569 10,676 11,450 Financing cash flows from finance leases 589 411 1,116 810 Right-of-use assets obtained in exchange for new finance lease liabilities 1,471 340 2,744 553 Right-of-use assets obtained in exchange for new operating lease liabilities 3,267 3,088 5,645 4,065 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 July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 Weighted-average remaining lease term – finance leases (in years) 3.46 3.35 Weighted-average remaining lease term – operating leases (in years) 10.26 10.61 Weighted-average discount rate – finance leases 2.82 % 2.64 % Weighted-average discount rate – operating leases 5.96 % 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 six months ended July 4, 2021) $ 9,439 $ 1,046 2022 16,838 1,850 2023 13,798 1,579 2024 11,563 1,053 2025 10,341 419 Thereafter 69,793 140 Total future minimum lease payments (undiscounted) 131,772 6,087 Less: Present value discount (35,622) (309) Total lease liability $ 96,150 $ 5,778 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 accounts 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 July 4, 2021, there were no significant leases that had not commenced as of the end of the second quarter. The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 94,316 $ 98,013 Current portion of operating lease liabilities $ 13,116 $ 13,555 Operating lease liabilities 83,034 86,468 Total operating lease liabilities $ 96,150 $ 100,023 Property, plant and equipment, net $ 7,738 $ 6,138 Accrued expenses $ 1,862 $ 1,496 Other long-term liabilities 3,916 2,688 Total finance lease liabilities $ 5,778 $ 4,184 Lease Costs Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 305 $ 335 $ 584 $ 635 Interest on lease liabilities 35 16 67 34 Operating lease cost 5,914 6,759 11,800 12,981 Short-term lease cost 179 166 642 341 Variable lease cost 482 924 1,288 1,570 Total lease cost $ 6,915 $ 8,200 $ 14,381 $ 15,561 Other Supplemental Information Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 35 $ 16 $ 67 $ 34 Operating cash flows from operating leases 5,476 5,569 10,676 11,450 Financing cash flows from finance leases 589 411 1,116 810 Right-of-use assets obtained in exchange for new finance lease liabilities 1,471 340 2,744 553 Right-of-use assets obtained in exchange for new operating lease liabilities 3,267 3,088 5,645 4,065 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 July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 Weighted-average remaining lease term – finance leases (in years) 3.46 3.35 Weighted-average remaining lease term – operating leases (in years) 10.26 10.61 Weighted-average discount rate – finance leases 2.82 % 2.64 % Weighted-average discount rate – operating leases 5.96 % 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 six months ended July 4, 2021) $ 9,439 $ 1,046 2022 16,838 1,850 2023 13,798 1,579 2024 11,563 1,053 2025 10,341 419 Thereafter 69,793 140 Total future minimum lease payments (undiscounted) 131,772 6,087 Less: Present value discount (35,622) (309) Total lease liability $ 96,150 $ 5,778 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 accounts 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	6 Months Ended
Employee Benefit Plans	Jul. 04, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS During the three and six months ended July 4, 2021, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $1.4 million, respectively. During the three and six months ended July 5, 2020, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.6 million and $1.3 million, respectively. The following tables provide the components of net periodic benefit cost for the three and six months ended July 4, 2021 and July 5, 2020: Three Months Ended Six Months Ended Defined Benefit Retirement Plans (Europe) July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Interest cost $ 579 $ 870 $ 1,151 $ 1,761 Expected return on assets (860) (1,038) (1,709) (2,102) Amortization of prior service cost 29 26 58 52 Amortization of net actuarial losses 409 320 813 646 Net periodic benefit cost $ 157 $ 178 $ 313 $ 357 Three Months Ended Six Months Ended Salary Continuation Plan July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Interest cost $ 177 $ 235 $ 353 $ 469 Amortization of net actuarial losses 186 139 372 279 Net periodic benefit cost $ 363 $ 374 $ 725 $ 748 Three Months Ended Six Months Ended nora Defined Benefit Plan July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Service cost $ 277 $ 259 $ 554 $ 517 Interest cost 104 110 207 221 Amortization of net actuarial losses 92 110 184 110 Net periodic benefit cost $ 473 $ 479 $ 945 $ 848 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	6 Months Ended
Goodwill and Intangible Assets	Jul. 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 2020 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 July 4, 2021. The changes in the carrying amounts of goodwill attributable to each reportable segment for the six months ended July 4, 2021 are as follows: AMS EAAA Total (in thousands) Balance, at January 3, 2021 $ 122,344 $ 43,433 $ 165,777 Foreign currency translation (5,795) (2,057) (7,852) Balance, at July 4, 2021 $ 116,549 $ 41,376 $ 157,925 Additionally, in fiscal year 2020, 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 $82.4 million at July 4, 2021. There were no indicators of additional intangible asset impairment as of the end of the second quarter of 2021.

Segment Information

Segment Information	6 Months Ended
Segment Information	Jul. 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 and six months ended July 4, 2021 were $20.6 million and $36.3 million, respectively, and intersegment revenues for the three and six months ended July 5, 2020 were $21.1 million and $40.6 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 Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Net Sales AMS $ 156,665 $ 151,222 $ 283,632 $ 309,313 EAAA 138,120 108,282 264,413 238,360 Total net sales $ 294,785 $ 259,504 $ 548,045 $ 547,673 Segment AOI AMS $ 21,098 $ 23,942 $ 33,011 $ 47,492 EAAA 9,960 3,530 17,971 9,330 Depreciation and Amortization AMS $ 4,504 $ 3,966 $ 9,227 $ 7,873 EAAA 7,232 6,842 14,443 13,875 Total depreciation and amortization $ 11,736 $ 10,808 $ 23,670 $ 21,748 A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: July 4, 2021 January 3, 2021 (in thousands) Assets AMS $ 834,446 $ 800,068 EAAA 692,208 682,295 Total segment assets 1,526,654 1,482,363 Corporate assets 128,701 111,073 Eliminations (333,141) (287,425) Total reported assets $ 1,322,214 $ 1,306,011 Reconciliations of operating income to income (loss) before income tax expense and segment AOI are presented as follows: Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) AMS operating income $ 21,101 $ 17,189 $ 32,748 $ 37,287 EAAA operating income (loss) 8,123 204 13,342 (113,406) Consolidated operating income (loss) 29,224 17,393 46,090 (76,119) Interest expense 7,289 4,965 14,545 10,595 Other expense 617 5,139 1,332 6,630 Income (loss) before income tax expense $ 21,318 $ 7,289 $ 30,213 $ (93,344) Three Months Ended July 4, 2021 Three Months Ended July 5, 2020 AMS EAAA AMS EAAA (in thousands) Operating income $ 21,101 $ 8,123 $ 17,189 $ 204 Purchase accounting amortization — 1,441 — 1,316 Restructuring, asset impairment, severance and other charges (3) 396 6,753 2,010 AOI $ 21,098 $ 9,960 $ 23,942 $ 3,530 Six Months Ended July 4, 2021 Six Months Ended July 5, 2020 AMS EAAA AMS EAAA (in thousands) Operating income (loss) $ 32,748 $ 13,342 $ 37,287 $ (113,406) Purchase accounting amortization — 2,862 — 2,631 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 263 1,767 6,753 892 AOI $ 33,011 $ 17,971 $ 47,492 $ 9,330

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
Supplemental Cash Flow Information	Jul. 04, 2021
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Cash payments for interest amounted to $11.9 million and $11.1 million for the six months ended July 4, 2021 and July 5, 2020, respectively. Income tax payments, net of refunds, amounted to $7.5 million and $6.9 million for the six months ended July 4, 2021 and July 5, 2020, respectively. See Note 8 entitled “Leases” for supplemental disclosures related to finance and operating leases.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jul. 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 six months ended July 4, 2021, the Company recorded a total income tax provision of $7.8 million on pre-tax income of $30.2 million resulting in an effective tax rate of 25.7%, as compared to a total income tax provision of $4.1 million on a pre-tax loss of $93.3 million resulting in an effective tax rate of (4.4)% during the six months ended July 5, 2020. The effective tax rate for the period ended July 5, 2020 was primarily impacted by a non-deductible goodwill impairment. Excluding the impact of the goodwill impairment, the effective tax rate was 17.8% during the six months ended July 5, 2020. The increase in the effective tax rate as compared to the period ended July 5, 2020, excluding the non-deductible goodwill impairment, was due to the one-time favorable impacts of amending prior year tax returns during the six months ended July 5, 2020 which was offset by favorable changes related to company-owned life insurance in the current period. In the first six months of 2021, the Company decreased its liability for unrecognized tax benefits by $0.7 million. The decrease was primarily due to settlements with taxing authorities and a lapse of applicable statute of limitations. As of July 4, 2021, the Company had accrued approximately $10.1 million for unrecognized tax benefits. In accordance with applicable accounting standards, the Company’s deferred tax asset as of July 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
	Apr. 04, 2021
Equity [Abstract]
Items Reclassified From Accumulated Other Comprehensive Loss	ITEMS RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS Amounts reclassified out of accumulated other comprehensive loss (“AOCI”), before tax, to the consolidated condensed statements of operations during the three and six months ended July 4, 2021 and July 5, 2020 are reflected in the table below: Three Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Interest rate swap contracts loss Interest expense $ (1,046) $ (1,124) Amortization of benefit plan prior service cost and net actuarial losses Other expense (716) (595) Total loss reclassified from AOCI, net $ (1,762) $ (1,719) Six Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Interest rate swap contracts loss Interest expense $ (2,107) $ (1,616) Amortization of benefit plan prior service cost and net actuarial losses Other expense (1,427) (1,087) Total loss reclassified from AOCI, net $ (3,534) $ (2,703)

Restructuring Charges

Restructuring Charges	6 Months Ended
Restructuring Charges	Jul. 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 (192) Deductions 579 Balance, at July 4, 2021 $ 293 For the six months ended July 4, 2021, the Company recorded a reduction of $0.2 million of previously recognized restructuring charges due to changes in expected cash payments. At July 4, 2021, the restructuring reserve was $0.3 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)	6 Months Ended
Significant Accounting Policies (Policies)	Jul. 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”). The six-month period ended July 4, 2021 includes 26 weeks, and the six-month period ended July 5, 2020 includes 27 weeks. The three-month periods ended July 4, 2021 and July 5, 2020 both include 13 weeks.
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 revenue for the first six months of 2021 when excluding the impacts of foreign currency fluctuations, 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 July 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.
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.
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)	6 Months Ended
Revenue Recognition (Tables)	Jul. 04, 2021
Revenues [Abstract]
Disaggregation of Revenue	For the six months ended July 4, 2021 and July 5, 2020, revenue from the Company’s customers is broken down by geography as follows: Six Months Ended Geography July 4, 2021 July 5, 2020 Americas 51.8% 56.5% Europe 33.6% 30.4% Asia-Pacific 14.6% 13.1%

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jul. 04, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: July 4, 2021 January 3, 2021 (in thousands) Finished goods $ 172,581 $ 152,836 Work in process 21,791 17,109 Raw materials 63,843 58,780 Inventories, net $ 258,215 $ 228,725

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jul. 04, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table shows the computation of basic and diluted EPS: Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands, except per share data) Numerator: Net income (loss) $ 15,511 $ 4,709 $ 22,449 $ (97,458) Less: distributed and undistributed earnings available to participating securities (192) (38) (229) (35) Distributed and undistributed earnings (loss) available to common shareholders $ 15,319 $ 4,671 $ 22,220 $ (97,493) Denominator: Weighted average shares outstanding 58,310 58,024 58,283 58,006 Participating securities 731 460 602 460 Shares for basic earnings per share 59,041 58,484 58,885 58,466 Dilutive effect of stock options — — — — Shares for diluted earnings per share 59,041 58,484 58,885 58,466 Basic earnings (loss) per share $ 0.26 $ 0.08 $ 0.38 $ (1.67) Diluted earnings (loss) per share $ 0.26 $ 0.08 $ 0.38 $ (1.67)

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
Long-term Debt (Tables)	Jul. 04, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: July 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 $ — — % $ 3,000 4.00 % Term loan borrowings 264,578 1.83 % 282,215 1.87 % Total borrowings under Syndicated Credit Facility 264,578 1.83 % 285,215 1.89 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 564,578 585,215 Less: Unamortized debt issuance costs (7,994) (8,645) Total debt, net 556,584 576,570 Less: Current portion of long-term debt (15,189) (15,319) Total long-term debt, net $ 541,395 $ 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)	6 Months Ended
Derivative Instruments (Tables)	Jul. 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 and six months ended July 5, 2020: Three Months Ended Six Months Ended July 5, 2020 July 5, 2020 (in thousands) Interest rate swap contracts loss $ (351) $ (6,491)
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 July 4, 2021 and January 3, 2021: Asset Derivatives Balance Sheet Location Fair Value as of July 4, 2021 Fair Value as of January 3, 2021 (in thousands) Foreign currency options Other current assets $ 3 $ 37
Derivatives Not Designated as Hedging Instruments	The following tables summarize gains and losses on derivatives not designated as hedging instruments within the consolidated condensed statements of operations for the three and six months ended July 4, 2021 and July 5, 2020: Three Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Foreign currency options gain (loss) Other expense $ 134 $ (1,629) Six Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Foreign currency options gain Other expense $ 319 $ 79

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
Shareholders' Equity (Tables)	Jul. 04, 2021
Stockholders' Equity Note [Abstract]
Schedule of Shareholders' Equity	The following tables depict the activity in the accounts which make up shareholders’ equity for the three and six months ended July 4, 2021 and July 5, 2020: 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) — — — Compensation expense related to stock awards, net of forfeitures (26) (2) 689 — — — — Pension liability adjustment — — — — 89 — — Foreign currency translation adjustment — — — — — (19,597) — Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge — — — — — — 749 Balance, at April 4, 2021 59,014 $ 5,901 $ 248,571 $ 214,911 $ (69,199) $ (79,928) $ (5,441) Net income — — — 15,511 — — — Restricted stock issuances 52 6 789 — — — — Unamortized compensation expense related to restricted stock awards — — (794) — — — — Cash dividends declared, $0.01 per common share — — — (589) — — — Compensation expense related to stock awards — — 1,548 — — — — Pension liability adjustment — — — — 100 — — Foreign currency translation adjustment — — — — — 3,455 — Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge — — — — — — 745 Balance, at July 4, 2021 59,066 $ 5,907 $ 250,114 $ 229,833 $ (69,099) $ (76,473) $ (4,696) 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) — — — Compensation expense related to stock awards, net of forfeitures (255) (25) (4,114) — — — — Pension liability adjustment — — — — 1,733 — — Foreign currency translation adjustment — — — — — (15,245) — Cash flow hedge unrealized loss — — — — — — (6,140) Balance, at April 5, 2020 58,488 $ 5,849 $ 246,378 $ 180,082 $ (54,967) $ (128,384) $ (10,303) Net income — — — 4,709 — — — Issuances of stock (other than restricted stock) 12 1 (1) — — — — Restricted stock issuances 70 7 2,294 — — — — Unamortized compensation expense related to restricted stock awards — — (2,300) — — — — Cash dividends declared, $0.01 per common share — — — (585) — — — Compensation expense related to stock awards, net of forfeitures (26) (3) (48) — — — — Pension liability adjustment — — — — (342) — — Foreign currency translation adjustment — — — — — 16,160 — Cash flow hedge unrealized loss — — — — — — (351) Balance, at July 5, 2020 58,544 $ 5,854 $ 246,323 $ 184,206 $ (55,309) $ (112,224) $ (10,654)
Schedule of Restricted Stock Outstanding and Activity	The following table summarizes restricted stock outstanding as of July 4, 2021, as well as activity during the six months then ended: Restricted Shares Weighted Average Outstanding at January 3, 2021 436,900 $ 24.73 Granted 428,400 14.26 Vested (167,200) 13.68 Forfeited or canceled (3,100) 16.69 Outstanding at July 4, 2021 695,000 $ 20.97
Schedule of Performance Shares Outstanding and Activity	The following table summarizes the performance shares outstanding as of July 4, 2021, as well as the activity during the six months then ended: Performance 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 July 4, 2021 654,700 $ 15.20

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jul. 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 the Company’s leases as of July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 94,316 $ 98,013 Current portion of operating lease liabilities $ 13,116 $ 13,555 Operating lease liabilities 83,034 86,468 Total operating lease liabilities $ 96,150 $ 100,023 Property, plant and equipment, net $ 7,738 $ 6,138 Accrued expenses $ 1,862 $ 1,496 Other long-term liabilities 3,916 2,688 Total finance lease liabilities $ 5,778 $ 4,184
Schedule of Lease Cost	Lease Costs Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 305 $ 335 $ 584 $ 635 Interest on lease liabilities 35 16 67 34 Operating lease cost 5,914 6,759 11,800 12,981 Short-term lease cost 179 166 642 341 Variable lease cost 482 924 1,288 1,570 Total lease cost $ 6,915 $ 8,200 $ 14,381 $ 15,561
Other Supplemental Information, Lessee	Other Supplemental Information Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 35 $ 16 $ 67 $ 34 Operating cash flows from operating leases 5,476 5,569 10,676 11,450 Financing cash flows from finance leases 589 411 1,116 810 Right-of-use assets obtained in exchange for new finance lease liabilities 1,471 340 2,744 553 Right-of-use assets obtained in exchange for new operating lease liabilities 3,267 3,088 5,645 4,065
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 July 4, 2021 and January 3, 2021: July 4, 2021 January 3, 2021 Weighted-average remaining lease term – finance leases (in years) 3.46 3.35 Weighted-average remaining lease term – operating leases (in years) 10.26 10.61 Weighted-average discount rate – finance leases 2.82 % 2.64 % Weighted-average discount rate – operating leases 5.96 % 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 six months ended July 4, 2021) $ 9,439 $ 1,046 2022 16,838 1,850 2023 13,798 1,579 2024 11,563 1,053 2025 10,341 419 Thereafter 69,793 140 Total future minimum lease payments (undiscounted) 131,772 6,087 Less: Present value discount (35,622) (309) Total lease liability $ 96,150 $ 5,778
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 six months ended July 4, 2021) $ 9,439 $ 1,046 2022 16,838 1,850 2023 13,798 1,579 2024 11,563 1,053 2025 10,341 419 Thereafter 69,793 140 Total future minimum lease payments (undiscounted) 131,772 6,087 Less: Present value discount (35,622) (309) Total lease liability $ 96,150 $ 5,778

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
Employee Benefit Plans (Tables)	Jul. 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 and six months ended July 4, 2021 and July 5, 2020: Three Months Ended Six Months Ended Defined Benefit Retirement Plans (Europe) July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Interest cost $ 579 $ 870 $ 1,151 $ 1,761 Expected return on assets (860) (1,038) (1,709) (2,102) Amortization of prior service cost 29 26 58 52 Amortization of net actuarial losses 409 320 813 646 Net periodic benefit cost $ 157 $ 178 $ 313 $ 357 Three Months Ended Six Months Ended Salary Continuation Plan July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Interest cost $ 177 $ 235 $ 353 $ 469 Amortization of net actuarial losses 186 139 372 279 Net periodic benefit cost $ 363 $ 374 $ 725 $ 748 Three Months Ended Six Months Ended nora Defined Benefit Plan July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Service cost $ 277 $ 259 $ 554 $ 517 Interest cost 104 110 207 221 Amortization of net actuarial losses 92 110 184 110 Net periodic benefit cost $ 473 $ 479 $ 945 $ 848

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Jul. 04, 2021
Goodwill [Abstract]
Changes in Carrying Amounts of Goodwill	The changes in the carrying amounts of goodwill attributable to each reportable segment for the six months ended July 4, 2021 are as follows: AMS EAAA Total (in thousands) Balance, at January 3, 2021 $ 122,344 $ 43,433 $ 165,777 Foreign currency translation (5,795) (2,057) (7,852) Balance, at July 4, 2021 $ 116,549 $ 41,376 $ 157,925

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jul. 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 Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) Net Sales AMS $ 156,665 $ 151,222 $ 283,632 $ 309,313 EAAA 138,120 108,282 264,413 238,360 Total net sales $ 294,785 $ 259,504 $ 548,045 $ 547,673 Segment AOI AMS $ 21,098 $ 23,942 $ 33,011 $ 47,492 EAAA 9,960 3,530 17,971 9,330 Depreciation and Amortization AMS $ 4,504 $ 3,966 $ 9,227 $ 7,873 EAAA 7,232 6,842 14,443 13,875 Total depreciation and amortization $ 11,736 $ 10,808 $ 23,670 $ 21,748
Reconciliation of Assets from Segment to Consolidated	A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: July 4, 2021 January 3, 2021 (in thousands) Assets AMS $ 834,446 $ 800,068 EAAA 692,208 682,295 Total segment assets 1,526,654 1,482,363 Corporate assets 128,701 111,073 Eliminations (333,141) (287,425) Total reported assets $ 1,322,214 $ 1,306,011
Reconciliation of Operating Income (Loss) from Segments to Consolidated	Reconciliations of operating income to income (loss) before income tax expense and segment AOI are presented as follows: Three Months Ended Six Months Ended July 4, 2021 July 5, 2020 July 4, 2021 July 5, 2020 (in thousands) AMS operating income $ 21,101 $ 17,189 $ 32,748 $ 37,287 EAAA operating income (loss) 8,123 204 13,342 (113,406) Consolidated operating income (loss) 29,224 17,393 46,090 (76,119) Interest expense 7,289 4,965 14,545 10,595 Other expense 617 5,139 1,332 6,630 Income (loss) before income tax expense $ 21,318 $ 7,289 $ 30,213 $ (93,344) Three Months Ended July 4, 2021 Three Months Ended July 5, 2020 AMS EAAA AMS EAAA (in thousands) Operating income $ 21,101 $ 8,123 $ 17,189 $ 204 Purchase accounting amortization — 1,441 — 1,316 Restructuring, asset impairment, severance and other charges (3) 396 6,753 2,010 AOI $ 21,098 $ 9,960 $ 23,942 $ 3,530 Six Months Ended July 4, 2021 Six Months Ended July 5, 2020 AMS EAAA AMS EAAA (in thousands) Operating income (loss) $ 32,748 $ 13,342 $ 37,287 $ (113,406) Purchase accounting amortization — 2,862 — 2,631 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 263 1,767 6,753 892 AOI $ 33,011 $ 17,971 $ 47,492 $ 9,330

Items Reclassified From Accum_2

Items Reclassified From Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jul. 04, 2021
Equity [Abstract]
Schedule of Items Reclassified out of Accumulated Other Comprehensive Loss	Amounts reclassified out of accumulated other comprehensive loss (“AOCI”), before tax, to the consolidated condensed statements of operations during the three and six months ended July 4, 2021 and July 5, 2020 are reflected in the table below: Three Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Interest rate swap contracts loss Interest expense $ (1,046) $ (1,124) Amortization of benefit plan prior service cost and net actuarial losses Other expense (716) (595) Total loss reclassified from AOCI, net $ (1,762) $ (1,719) Six Months Ended Statement of Operations Location July 4, 2021 July 5, 2020 (in thousands) Interest rate swap contracts loss Interest expense $ (2,107) $ (1,616) Amortization of benefit plan prior service cost and net actuarial losses Other expense (1,427) (1,087) Total loss reclassified from AOCI, net $ (3,534) $ (2,703)

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
Restructuring Charges (Tables)	Jul. 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 (192) Deductions 579 Balance, at July 4, 2021 $ 293

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	6 Months Ended
Revenue Recognition - Narrative (Details)	Jul. 04, 2021	Jul. 05, 2020
Carpet, Modular Resilient Flooring, and Related Products
Percent of revenue due to contracts with customers (percentage)	98.00%	98.00%
Installation of Carpet and Other Flooring Related Material
Percent of revenue due to contracts with customers (percentage)	2.00%	2.00%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details)	6 Months Ended
Revenue Recognition - Disaggregation of Revenue (Details)	Jul. 04, 2021	Jul. 05, 2020
Americas
Percentage of net sales	51.80%	56.50%
Europe
Percentage of net sales	33.60%	30.40%
Asia-Pacific
Percentage of net sales	14.60%	13.10%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 172,581	$ 152,836
Work in process	21,791	17,109
Raw materials	63,843	58,780
Inventories, net	$ 258,215	$ 228,725

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 15,511	$ 4,709	$ 22,449	$ (97,458)
Distributed and undistributed earnings available to participating securities, basic	(192)	(38)	(229)	(35)
Distributed and undistributed earnings available to participating securities, diluted	(192)	(38)	(229)	(35)
Distributed and undistributed earnings (loss) available to common shareholders, basic	15,319	4,671	22,220	(97,493)
Distributed and undistributed earnings (loss) available to common shareholders, diluted	$ 15,319	$ 4,671	$ 22,220	$ (97,493)
Weighted average shares outstanding (in shares)	58,310	58,024	58,283	58,006
Participating securities (in shares)	731	460	602	460
Shares for basic earnings per share (in shares)	59,041	58,484	58,885	58,466
Dilutive effect of stock options (in shares)	0	0	0	0
Shares for diluted earnings per share (in shares)	59,041	58,484	58,885	58,466
Basic earnings (loss) per share (in dollars per share)	$ 0.26	$ 0.08	$ 0.38	$ (1.67)
Diluted earnings (loss) per share (in dollars per share)	$ 0.26	$ 0.08	$ 0.38	$ (1.67)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended	6 Months Ended
Earnings Per Share - Narrative (Details) - shares	Jul. 05, 2020	Jul. 05, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of EPS (in shares)	20,000	20,000

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 564,578	$ 585,215
Unamortized debt issuance costs, recorded as a reduction of long-term debt, net	(7,994)	(8,645)
Total debt, net	556,584	576,570
Current portion of long-term debt	(15,189)	(15,319)
Total long-term debt, net	541,395	561,251
Syndicated Facility Agreement
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 264,578	$ 285,215
Weighted average interest rate on borrowings outstanding	1.83%	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	0.00%	4.00%
Syndicated Facility Agreement \| Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 264,578	$ 282,215
Long-term Debt, Bearing Variable Interest, Percentage Rate	1.83%	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 ($)	6 Months Ended	12 Months Ended
Long-term Debt - Narrative (Details) - USD ($)	Jul. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 564,578,000	$ 585,215,000
Unamortized debt issuance costs, recorded as a reduction of long-term debt, net	7,994,000	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	264,578,000	285,215,000
Unamortized debt issuance costs, revolving loan facility, net	1,800,000	2,000,000
Syndicated Facility Agreement \| Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	264,578,000	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	$ 8,000,000	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	$ 315,100,000

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 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	$ (6.5)	$ (8.7)
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	(4)
Foreign currency option
Derivative [Line Items]
Derivative, notional amount	$ 4.4

Derivative Instruments - Cash F

Derivative Instruments - Cash Flow Hedges Included in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 05, 2020	Jul. 05, 2020
Derivative instruments designated as hedging instruments \| Cash Flow Hedging \| Interest rate swap
Derivative [Line Items]
Interest rate swap contracts loss	$ (351)	$ (6,491)

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Derivative instruments not designated as hedging instruments \| Foreign currency option \| Other current assets
Derivative [Line Items]
Asset Derivatives	$ 3	$ 37

Derivative Instruments - Deriva

Derivative Instruments - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Derivative instruments not designated as hedging instruments \| Foreign currency option \| Other Expense
Derivative [Line Items]
Foreign currency options gain (loss)	$ 134	$ (1,629)	$ 319	$ 79

Shareholders' Equity - Activity

Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 04, 2021	Apr. 04, 2021	Jul. 05, 2020	Apr. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period		$ 326,538			$ 326,538
Net income (loss)	$ 15,511		$ 4,709		22,449	$ (97,458)
Pension liability adjustment	100		(342)		189	1,391
Foreign currency translation adjustment	3,455		16,160		(16,142)	915
Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge	(745)				(1,494)
Cash flow hedge unrealized loss			$ (351)			$ (6,491)
Balance at end of period	$ 335,586				$ 335,586
Cash dividends declared, per common share	$ 0.01	$ 0.01	$ 0.01	$ 0.065
COMMON STOCK
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	59,014	58,664	58,488	58,416	58,664	58,416
Balance at beginning of period	$ 5,901	$ 5,865	$ 5,849	$ 5,842	$ 5,865	$ 5,842
Issuances of stock (other than restricted stock) (in shares)			12	220
Issuances of stock (other than restricted stock)			$ 1	$ 22
Restricted stock issuances (in shares)	52	376	70	107
Restricted stock issuances	$ 6	$ 38	$ 7	$ 10
Compensation expense related to stock awards, net of forfeitures (in shares)	0	(26)	(26)	(255)
Compensation expense related to stock awards, net of forfeitures	$ 0	$ (2)	$ (3)	$ (25)
Balance at end of period (in shares)	59,066	59,014	58,544	58,488	59,066	58,544
Balance at end of period	$ 5,907	$ 5,901	$ 5,854	$ 5,849	$ 5,907	$ 5,854
ADDITIONAL PAID-IN CAPITAL
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	248,571	247,920	246,378	250,306	247,920	250,306
Issuances of stock (other than restricted stock)			(1)	197
Restricted stock issuances	789	5,277	2,294	1,720
Unamortized compensation expense related to restricted stock awards	(794)	(5,315)	(2,300)	(1,731)
Compensation expense related to stock awards, net of forfeitures	1,548	689	(48)	(4,114)
Balance at end of period	250,114	248,571	246,323	246,378	250,114	246,323
RETAINED EARNINGS
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	214,911	208,562	180,082	286,056	208,562	286,056
Net income (loss)	15,511	6,938	4,709	(102,167)
Cash dividends declared	(589)	(589)	(585)	(3,807)
Balance at end of period	229,833	214,911	184,206	180,082	229,833	184,206
PENSION LIABILITY
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(69,199)	(69,288)	(54,967)	(56,700)	(69,288)	(56,700)
Pension liability adjustment	100	89	(342)	1,733
Balance at end of period	(69,099)	(69,199)	(55,309)	(54,967)	(69,099)	(55,309)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(79,928)	(60,331)	(128,384)	(113,139)	(60,331)	(113,139)
Foreign currency translation adjustment	3,455	(19,597)	16,160	(15,245)
Balance at end of period	(76,473)	(79,928)	(112,224)	(128,384)	(76,473)	(112,224)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(5,441)	(6,190)			(6,190)
Reclassification out of accumulated other comprehensive loss - discontinued cash flow hedge	745	749
Balance at end of period	$ (4,696)	$ (5,441)			$ (4,696)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period			(10,303)	(4,163)		(4,163)
Cash flow hedge unrealized loss			(351)	(6,140)
Balance at end of period			$ (10,654)	$ (10,303)		$ (10,654)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	6 Months Ended
Shareholders' Equity - Narrative (Details) - USD ($)	Jul. 04, 2021	Jul. 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)	$ 1,800,000	$ (200,000)
Stock awards granted (in shares)	428,400	308,100
Unrecognized compensation expense related to unvested restricted stock	$ 7,200,000
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)	$ 700,000	$ (2,000,000)
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	$ 9,000,000
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	$ 400,000

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock - $ / shares	6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Shares
Outstanding at beginning of period (in shares)	436,900
Granted (in shares)	428,400	308,100
Vested (in shares)	(167,200)
Forfeited or canceled (in shares)	(3,100)
Outstanding at end of period (in shares)	695,000
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)	14.26
Vested, weighted average grant date fair value (in dollars per share)	13.68
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)	$ 20.97

Shareholders' Equity - Performa

Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares	6 Months Ended
	Jul. 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)	6 Months Ended
Leases - Narrative (Details)	Jul. 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	Jul. 04, 2021	Jan. 03, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 94,316	$ 98,013
Current portion of operating lease liabilities	13,116	13,555
Operating lease liabilities	83,034	86,468
Total operating lease liabilities	96,150	100,023
Property, plant and equipment, net	7,738	6,138
Accrued expenses	1,862	1,496
Other long-term liabilities	3,916	2,688
Total finance lease liabilities	$ 5,778	$ 4,184

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Costs (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Leases [Abstract]
Finance lease cost: Amortization of right-of-use assets	$ 305	$ 335	$ 584	$ 635
Finance lease cost: Interest on lease liabilities	35	16	67	34
Operating lease cost	5,914	6,759	11,800	12,981
Short-term lease cost	179	166	642	341
Variable lease cost	482	924	1,288	1,570
Total lease cost	$ 6,915	$ 8,200	$ 14,381	$ 15,561

Leases - Other Supplemental Inf

Leases - Other Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Statement of Financial Position [Abstract]
Operating cash flows from finance leases	$ 35	$ 16	$ 67	$ 34
Operating cash flows from operating leases	5,476	5,569	10,676	11,450
Financing cash flows from finance leases	589	411	1,116	810
Right-of-use assets obtained in exchange for new finance lease liabilities	1,471	340	2,744	553
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,267	$ 3,088	$ 5,645	$ 4,065

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Jul. 04, 2021	Jan. 03, 2021
Statement of Financial Position [Abstract]
Weighted-average remaining lease term – finance leases (in years)	3 years 5 months 15 days	3 years 4 months 6 days
Weighted-average remaining lease term – operating leases (in years)	10 years 3 months 3 days	10 years 7 months 9 days
Weighted-average discount rate – finance leases (percentage)	2.82%	2.64%
Weighted-average discount rate – operating leases (percentage)	5.96%	5.98%

Leases - Maturity of Lease Paym

Leases - Maturity of Lease Payments (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021 (excluding the six months ended July 4, 2021)	$ 9,439
2022	16,838
2023	13,798
2024	11,563
2025	10,341
Thereafter	69,793
Total future minimum lease payments (undiscounted)	131,772
Less: Present value discount	(35,622)
Total lease liability	96,150	$ 100,023
Finance Lease, Liability, Payment, Due [Abstract]
2021 (excluding the six months ended July 4, 2021)	1,046
2022	1,850
2023	1,579
2024	1,053
2025	419
Thereafter	140
Total future minimum lease payments (undiscounted)	6,087
Less: Present value discount	(309)
Total lease liability	$ 5,778	$ 4,184

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Multiemployer Plan, Employer Contribution	$ 0.7	$ 0.6	$ 1.4	$ 1.3

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 579	$ 870	$ 1,151	$ 1,761
Expected return on assets	(860)	(1,038)	(1,709)	(2,102)
Amortization of prior service cost	29	26	58	52
Amortization of net actuarial losses	409	320	813	646
Net periodic benefit cost	157	178	313	357
Salary Continuation Plan \| United States
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	177	235	353	469
Amortization of net actuarial losses	186	139	372	279
Net periodic benefit cost	363	374	725	748
nora Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Service cost	277	259	554	517
Interest cost	104	110	207	221
Amortization of net actuarial losses	92	110	184	110
Net periodic benefit cost	$ 473	$ 479	$ 945	$ 848

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Apr. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Goodwill and Intangible Assets [Line Items]
Goodwill and Intangible Asset Impairment	$ 0	$ 0	$ 121,300	$ 0	$ 121,258
Goodwill, Impairment Loss			116,500
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			4,800
Intangible Assets, Net (Excluding Goodwill)	$ 82,400			$ 82,400
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	6 Months Ended
	Jul. 04, 2021	Jan. 03, 2021
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 157,925	$ 165,777
Goodwill, Foreign Currency Translation	(7,852)
Operating Segments \| AMS
Goodwill and Intangible Assets [Line Items]
Goodwill	116,549	122,344
Goodwill, Foreign Currency Translation	(5,795)
Operating Segments \| EAAA
Goodwill and Intangible Assets [Line Items]
Goodwill	41,376	$ 43,433
Goodwill, Foreign Currency Translation	$ (2,057)

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
Segment Information - Narrative (Details) $ in Millions	Jul. 04, 2021USD ($)	Jul. 05, 2020USD ($)	Jul. 04, 2021USD ($)	Jul. 05, 2020USD ($)
Segment Reporting [Abstract]
Number of operating segments			2
Number of reportable segments			2
Intersegment Revenues	$ 20.6	$ 21.1	$ 36.3	$ 40.6

Segment Information - Operating

Segment Information - Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Segment Reporting Information [Line Items]
Net sales	$ 294,785	$ 259,504	$ 548,045	$ 547,673
Depreciation and amortization	11,736	10,808	23,670	21,748
Operating Segments \| AMS
Segment Reporting Information [Line Items]
Net sales	156,665	151,222	283,632	309,313
AOI	21,098	23,942	33,011	47,492
Depreciation and amortization	4,504	3,966	9,227	7,873
Operating Segments \| EAAA
Segment Reporting Information [Line Items]
Net sales	138,120	108,282	264,413	238,360
AOI	9,960	3,530	17,971	9,330
Depreciation and amortization	$ 7,232	$ 6,842	$ 14,443	$ 13,875

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jan. 03, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,322,214	$ 1,306,011
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,526,654	1,482,363
Operating Segments \| AMS
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	834,446	800,068
Operating Segments \| EAAA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	692,208	682,295
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	128,701	111,073
Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (333,141)	$ (287,425)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment AOI (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Apr. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Segment Reporting, Reconciling Item for Operating Income (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	$ 29,224	$ 17,393		$ 46,090	$ (76,119)
Amortization of acquired intangible assets				2,862	2,631
Goodwill and Intangible Asset Impairment	0	0	$ 121,300	0	121,258
Interest Expense	7,289	4,965		14,545	10,595
Other Expense	617	5,139		1,332	6,630
Income (Loss) from Continuing Operations before Income Tax Expense	21,318	7,289		30,213	(93,344)
Operating Segments \| AMS
Segment Reporting, Reconciling Item for Operating Income (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	21,101	17,189		32,748	37,287
Amortization of acquired intangible assets	0	0		0	0
Goodwill and Intangible Asset Impairment				0	2,695
Impact of change in equity award forfeiture accounting				0	757
Restructuring, asset impairment, severance and other charges	(3)	6,753		263	6,753
AOI	21,098	23,942		33,011	47,492
Operating Segments \| EAAA
Segment Reporting, Reconciling Item for Operating Income (Loss) from Segment to Consolidated [Line Items]
Operating Income (Loss)	8,123	204		13,342	(113,406)
Amortization of acquired intangible assets	1,441	1,316		2,862	2,631
Goodwill and Intangible Asset Impairment				0	118,563
Impact of change in equity award forfeiture accounting				0	650
Restructuring, asset impairment, severance and other charges	396	2,010		1,767	892
AOI	$ 9,960	$ 3,530		$ 17,971	$ 9,330

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020
Supplemental Cash Flow Information [Abstract]
Cash payments for interest	$ 11.9	$ 11.1
Income tax payments, net of refunds	$ 7.5	$ 6.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Income Tax Disclosure [Abstract]
Income Tax Expense	$ 5,807	$ 2,580	$ 7,764	$ 4,114
Income (Loss) from Continuing Operations before Income Tax Expense	21,318	$ 7,289	$ 30,213	$ (93,344)
Effective income tax rate, percent			25.70%	(4.40%)
Effective income tax rate, excluding non-deductible goodwill impairment, percent				17.80%
Unrecognized Tax Benefits, Period Increase (Decrease)			$ (700)
Unrecognized tax benefits	10,100		10,100
Decrease in deferred tax assets			3,000
Decrease in unrecognized tax benefits reasonably possible within next 12 months	$ 1,700		$ 1,700

Items Reclassified From Accum_3

Items Reclassified From Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Jul. 04, 2021	Jul. 05, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Total loss reclassified from AOCI, net	$ (1,762)	$ (1,719)	$ (3,534)	$ (2,703)
Interest Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest rate swap contracts loss	(1,046)		(2,107)
Interest rate swap contracts loss		(1,124)		(1,616)
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	$ (716)	$ (595)	$ (1,427)	$ (1,087)

Restructuring Charges - Summary

Restructuring Charges - Summary of Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jul. 04, 2021	Jul. 05, 2020	Dec. 29, 2019	Jul. 04, 2021	Jul. 05, 2020	Jan. 03, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve Balance	$ 300			$ 300
Restructuring Charges	62	$ 157		192	$ 1,275
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	$ 293			293		$ 1,064
Restructuring Charges			$ (8,800)	(192)
Deductions				$ 579

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) $ in Thousands	Dec. 23, 2019USD ($)office	Jul. 04, 2021USD ($)	Jul. 05, 2020USD ($)	Dec. 29, 2019USD ($)	Jul. 04, 2021USD ($)	Jul. 05, 2020USD ($)	Jan. 03, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ (62)	$ (157)		$ (192)	$ (1,275)
Restructuring Reserve Balance		300			300
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			6,000
2019 Restructuring Plan \| Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				8,800	192
Restructuring Reserve Balance		$ 293			$ 293		$ 1,064
2019 Restructuring Plan \| Other Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Charges				$ 200