Interface (TILE) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 01, 2023	Nov. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 01, 2023
Document Transition Report	false
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,106,975
Entity Central Index Key	0000715787
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Current assets
Cash and cash equivalents	$ 119,633	$ 97,564
Accounts receivable, net	143,884	182,807
Inventories, net	289,320	306,327
Prepaid expenses and other current assets	33,003	30,339
Total current assets	585,840	617,037
Property, plant and equipment, net	282,401	297,976
Operating lease right-of-use assets	75,604	81,644
Deferred tax asset	16,263	17,767
Goodwill and intangibles, net	156,487	162,195
Other assets	85,046	89,884
Total assets	1,201,641	1,266,503
Current liabilities
Accounts payable	75,602	78,264
Accrued expenses	115,266	120,138
Current portion of operating lease liabilities	10,829	11,857
Current portion of long-term debt	8,492	10,211
Total current liabilities	210,189	220,470
Long-term debt	435,899	510,003
Operating lease liabilities	67,554	72,305
Deferred income taxes	37,052	38,662
Other long-term liabilities	63,383	63,526
Total liabilities	814,077	904,966
Commitments and contingencies
Shareholders’ equity
Preferred stock, par value $1.00 per share; 5,000 shares authorized; none issued or outstanding at October 1, 2023 and January 1, 2023	0	0
Common stock, par value $0.10 per share; 120,000 shares authorized; 58,107 and 58,106 shares issued and outstanding at October 1, 2023 and January 1, 2023, respectively	5,811	5,811
Additional paid-in capital	249,979	244,159
Retained earnings	301,859	278,639
Accumulated other comprehensive loss – foreign currency translation	(141,660)	(138,775)
Accumulated other comprehensive loss – cash flow hedge	0	(749)
Accumulated other comprehensive loss – pension liability	(28,425)	(27,548)
Total shareholders’ equity	387,564	361,537
Total liabilities and shareholders’ equity	$ 1,201,641	$ 1,266,503

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Income Statement [Abstract]
Net sales	$ 311,006	$ 327,757	$ 936,380	$ 962,364
Cost of sales	200,748	218,972	618,463	630,074
Gross profit	110,258	108,785	317,917	332,290
Selling, general and administrative expenses	79,273	80,848	251,049	240,711
Restructuring, asset impairment, other (gains) and charges	0	(105)	(2,502)	1,592
Operating income	30,985	28,042	69,370	89,987
Interest expense	8,163	7,747	24,986	21,787
Other expense, net	6,702	124	7,674	1,688
Income before income tax expense	16,120	20,171	36,710	66,512
Income tax expense	6,241	6,106	11,748	22,336
Net income	$ 9,879	$ 14,065	$ 24,962	$ 44,176
Earnings per share – basic (in dollars per share)	$ 0.17	$ 0.24	$ 0.43	$ 0.75
Earnings per share – diluted (in dollars per share)	$ 0.17	$ 0.24	$ 0.43	$ 0.75
Common shares outstanding – basic (in shares)	58,107	58,681	58,087	59,099
Common shares outstanding – diluted (in shares)	58,342	58,681	58,233	59,099

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 9,879	$ 14,065	$ 24,962	$ 44,176
Other comprehensive loss, after tax:
Foreign currency translation adjustment	(9,176)	(36,800)	(2,885)	(86,654)
Reclassification from accumulated other comprehensive loss – discontinued cash flow hedge	150	492	749	1,673
Pension liability adjustment	202	3,393	(877)	8,774
Other comprehensive loss	(8,824)	(32,915)	(3,013)	(76,207)
Comprehensive income (loss)	$ 1,055	$ (18,850)	$ 21,949	$ (32,031)

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
OPERATING ACTIVITIES:
Net income	$ 24,962	$ 44,176
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	30,591	30,661
Share-based compensation expense	7,334	6,679
Gain on disposal of property, plant and equipment, net	(2,531)	0
Loss on foreign subsidiary liquidation	6,221	0
Deferred income taxes and other	(671)	13,616
Amortization of acquired intangible assets	3,886	3,817
Working capital changes:
Accounts receivable	37,396	(8,860)
Inventories	14,135	(71,487)
Prepaid expenses and other current assets	(2,842)	2,321
Accounts payable and accrued expenses	(4,264)	(6,040)
Cash provided by operating activities	114,217	14,883
INVESTING ACTIVITIES:
Capital expenditures	(17,238)	(13,314)
Proceeds from sale of property, plant and equipment	6,593	0
Cash used in investing activities	(10,645)	(13,314)
FINANCING ACTIVITIES:
Repayments of long-term debt	(149,738)	(151,662)
Borrowing of long-term debt	74,000	159,363
Tax withholding payments for share-based compensation	(1,514)	(398)
Repurchase of common stock	0	(14,451)
Dividends paid	(1,742)	(1,773)
Finance lease payments	(1,853)	(1,535)
Cash used in financing activities	(80,847)	(10,456)
Net cash provided by (used in) operating, investing and financing activities	22,725	(8,887)
Effect of exchange rate changes on cash	(656)	(8,916)
CASH AND CASH EQUIVALENTS:
Net increase (decrease)	22,069	(17,803)
Balance, beginning of period	97,564	97,252
Balance, end of period	$ 119,633	$ 79,449

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Oct. 01, 2023	Jan. 01, 2023
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)	58,107,000	58,106,000
Common stock, shares outstanding (in shares)	58,107,000	58,106,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 01, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation References in this Quarterly Report on Form 10-Q to “Interface,” “the Company,” “we,” “our,” “ours” and “us” refer to Interface, Inc. and its subsidiaries or any of them, unless the context requires otherwise. 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 1, 2023, 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 1, 2023, 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 nine-month periods ended October 1, 2023 and October 2, 2022, both include 39 weeks. The three-month periods ended October 1, 2023 and October 2, 2022, both include 13 weeks. Risks and Uncertainties Global economic challenges, including the impacts of the Russia-Ukraine and Israel-Hamas wars, inflation and supply chain disruptions could cause economic uncertainty and volatility. The Company considered these impacts and subsequent general uncertainties and volatility in the global economy on the assumptions and estimates used herein. In connection with the Cyber Event discussed below, security breaches may expose us to fines and other liabilities to the extent sensitive data stored in our IT systems, including data related to customers, suppliers or employees, are misappropriated. These uncertainties could result in a future material adverse effect to the amounts reported within the Company’s consolidated condensed financial statements if actual results differ from these estimates. Cybersecurity Event On November 20, 2022, we discovered a cybersecurity attack, perpetrated by unauthorized third parties, affecting our IT systems (the “Cyber Event”). In response to this Cyber Event, we notified law enforcement and took steps to supplement existing security monitoring, including scanning and protective measures. The investigation of the Cyber Event was substantially completed early in the third quarter of 2023. Recently Adopted Accounting Pronouncements In July 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-03, “ Presentation of Financial Statements (Topic 205), Income Statement — Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), Compensation — Stock Compensation (Topic 718) .” This ASU amends various paragraphs in the accounting codification pursuant to the issuance of Commission Staff Accounting Bulletin (“SAB”) number 120. The ASU provides clarifying guidance related to employee and non-employee share-based payment accounting, including guidance related to spring-loaded awards. ASU 2023-03 is effective upon issuance. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, “ Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions .” This ASU clarifies that a contractual restriction on the sale of an equity security is not considered in measuring fair value. The ASU also requires certain disclosures for equity securities subject to contractual sale restrictions. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company adopted this standard on April 2, 2023. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.
Risks and Uncertainties	Risks and UncertaintiesGlobal economic challenges, including the impacts of the Russia-Ukraine and Israel-Hamas wars, inflation and supply chain disruptions could cause economic uncertainty and volatility. The Company considered these impacts and subsequent general uncertainties and volatility in the global economy on the assumptions and estimates used herein. In connection with the Cyber Event discussed below, security breaches may expose us to fines and other liabilities to the extent sensitive data stored in our IT systems, including data related to customers, suppliers or employees, are misappropriated. These uncertainties could result in a future material adverse effect to the amounts reported within the Company’s consolidated condensed financial statements if actual results differ from these estimates.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Oct. 01, 2023
Revenues [Abstract]
Revenue Recognition	REVENUE RECOGNITION The Company generates revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material and from the installation of carpet and other flooring-related material. A summary of these revenue streams, as a percentage of net sales, for the three and nine months ended October 1, 2023 and October 2, 2022 is as follows: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Revenue from the sale of flooring material 98 % 96 % 98 % 97 % Revenue from installation of flooring material 2 % 4 % 2 % 3 % Disaggregation of Revenue For the three and nine months ended October 1, 2023 and October 2, 2022, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Nine Months Ended Geography October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Americas 57.3 % 59.4 % 58.6 % 57.9 % Europe 30.3 % 28.2 % 30.0 % 29.3 % Asia-Pacific 12.4 % 12.4 % 11.4 % 12.8 % Revenue from the Company’s customers in the Americas corresponds to the AMS reportable segment, and the EAAA reportable segment includes revenue from the Europe and Asia-Pacific geographies. See Note 11 entitled “Segment Information” for additional information.

Inventories

Inventories	9 Months Ended
	Oct. 01, 2023
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are summarized as follows: October 1, 2023 January 1, 2023 (in thousands) Finished goods $ 207,885 $ 209,478 Work-in-process 19,103 15,463 Raw materials 62,332 81,386 Inventories, net $ 289,320 $ 306,327

Earnings Per Share

Earnings Per Share	9 Months Ended
	Oct. 01, 2023
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The Company computes basic earnings per share (“EPS”) by dividing net income 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 that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding for basic EPS as these awards are considered participating securities. Any unvested stock awards considered non-participating securities are included in 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 Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands, except per share data) Numerator: Net income $ 9,879 $ 14,065 $ 24,962 $ 44,176 Less: distributed and undistributed earnings available to participating securities (117) (246) (327) (716) Distributed and undistributed earnings available to common shareholders $ 9,762 $ 13,819 $ 24,635 $ 43,460 Denominator: Weighted average shares outstanding 57,420 57,656 57,326 58,139 Participating securities 687 1,025 761 960 Shares for basic EPS 58,107 58,681 58,087 59,099 Dilutive effect of non-participating securities 235 — 146 — Shares for diluted EPS 58,342 58,681 58,233 59,099 Basic EPS $ 0.17 $ 0.24 $ 0.43 $ 0.75 Diluted EPS $ 0.17 $ 0.24 $ 0.43 $ 0.75 For both the three and nine months ended October 1, 2023, 855,785 non-participating securities that could potentially dilute basic EPS in the future, consisting of restricted share units and performance shares, were excluded from the computation of diluted EPS as these securities would have been antidilutive for the respective periods.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Oct. 01, 2023
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt consisted of the following: October 1, 2023 January 1, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility: Revolving loan borrowings $ 5,895 7.33 % $ 24,250 5.29 % Term loan borrowings 143,361 6.63 % 202,082 5.84 % Total borrowings under Syndicated Credit Facility 149,256 6.66 % 226,332 5.78 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 449,256 526,332 Less: Unamortized debt issuance costs (4,865) (6,118) Total debt, net 444,391 520,214 Less: Current portion of long-term debt (8,492) (10,211) Total long-term debt, net $ 435,899 $ 510,003 (1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility and the stated rate of interest for the 5.50% Senior Notes due 2028, without the effect of debt issuance costs. Syndicated Credit Facility The Company’s Syndicated Credit Facility (the “Facility”) provides to the Company U.S. denominated and multicurrency term loans and provides to the Company and certain of its subsidiaries a multicurrency revolving credit facility. 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 SOFR-based and alternative currency loans and fees for letters of credit are charged at varying rates computed by applying a margin over the applicable SOFR rate or alternative currency 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 October 1, 2023 and January 1, 2023, the Company had $1.6 million in letters of credit outstanding under the Facility. As of both October 1, 2023 and January 1, 2023, 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. The fair value of borrowings under the Facility is estimated using observable market rates and is considered Level 2 within the fair value hierarchy. 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 in compliance with all covenants under the Facility and anticipates that it will remain in compliance with the covenants for the foreseeable future. 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. 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 Facility. As of October 1, 2023, the estimated fair value of the Senior Notes was $258.8 million, compared with a carrying value recorded in the Company’s consolidated condensed balance sheet of $296.3 million ($300.0 million excluding $3.7 million of 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. The Company is in compliance with all covenants under the indenture governing the Senior Notes and anticipates that it will remain in compliance with the covenants for the foreseeable future. Debt Issuance 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 October 1, 2023 and January 1, 2023, the unamortized debt issuance costs recorded as a reduction of long-term debt were $4.9 million and $6.1 million, respectively. Debt issuance costs related to the issuance of revolving debt, which include underwriting, legal and other direct costs, net of accumulated amortization, were $1.5 million and $1.8 million as of October 1, 2023 and January 1, 2023, 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	9 Months Ended
	Oct. 01, 2023
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.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Oct. 01, 2023
Stockholders' Equity Note [Abstract]
Shareholders' Equity	SHAREHOLDERS’ EQUITY The following tables depict the activity in the accounts which make up shareholders’ equity for the nine months ended October 1, 2023 and October 2, 2022: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (in thousands, except per share data) Balance, at January 1, 2023 58,106 $ 5,811 $ 244,159 $ 278,639 $ (27,548) $ (138,775) $ (749) Net loss — — — (714) — — — Issuances of stock related to performance shares 79 8 (8) — — — — Cash dividends declared, $0.01 per common share — — — (580) — — — Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (132) (14) 1,850 — — — — Pension liability adjustment — — — — (279) — — Foreign currency translation adjustment — — — — — 4,930 — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 299 Balance, at April 2, 2023 58,053 $ 5,805 $ 246,001 $ 277,345 $ (27,827) $ (133,845) $ (450) Net income — — — 15,797 — — — Issuances of stock related to restricted share units and performance shares 5 1 (1) — — — — Restricted stock issuances 102 10 697 — — — — Unrecognized compensation expense related to restricted stock awards — — (708) — — — — Cash dividends declared, $0.01 per common share — — — (581) — — — Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (48) (5) 1,808 — — — — Pension liability adjustment — — — — (800) — — Foreign currency translation adjustment — — — — — 1,361 — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 300 Balance, at July 2, 2023 58,112 $ 5,811 $ 247,797 $ 292,561 $ (28,627) $ (132,484) $ (150) Net income — — — 9,879 — — — Cash dividends declared, $0.01 per common share — — — (581) — — — Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (5) — 2,182 — — — — Pension liability adjustment — — — — 202 — — Foreign currency translation adjustment — — — — — (9,176) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 150 Balance, at October 1, 2023 58,107 $ 5,811 $ 249,979 $ 301,859 $ (28,425) $ (141,660) $ — SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (in thousands, except per share data) Balance, at January 2, 2022 59,055 $ 5,905 $ 253,110 $ 261,434 $ (53,888) $ (100,441) $ (2,722) Net income — — — 13,293 — — — Restricted stock issuances 303 30 3,966 — — — — Unrecognized compensation expense related to restricted stock awards — — (3,996) — — — — Cash dividends declared, $0.01 per common share — — — (592) — — — Compensation expense related to share-based plans, net of shares received for tax withholdings (30) (2) 1,787 — — — — Pension liability adjustment — — — — 1,539 — — Foreign currency translation adjustment — — — — — (13,184) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 641 Balance, at April 3, 2022 59,328 $ 5,933 $ 254,867 $ 274,135 $ (52,349) $ (113,625) $ (2,081) Net income — — — 16,818 — — — Restricted stock issuances 198 20 2,533 — — — — Unrecognized compensation expense related to restricted stock awards — — (2,553) — — — — Cash dividends declared, $0.01 per common share — — — (595) — — — Compensation expense related to share-based plans, net of forfeitures (14) (1) 2,145 — — — — Share repurchases (415) (42) (5,540) — — — — Pension liability adjustment — — — — 3,842 — — Foreign currency translation adjustment — — — — — (36,670) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 540 Balance, at July 3, 2022 59,097 $ 5,910 $ 251,452 $ 290,358 $ (48,507) $ (150,295) $ (1,541) Net income — — — 14,065 — — — Cash dividends declared, $0.01 per common share — — — (586) — — — Compensation expense related to share-based plans, net of forfeitures (16) (2) 2,353 — — — — Share repurchases (711) (71) (8,798) — — — — Pension liability adjustment — — — — 3,393 — — Foreign currency translation adjustment — — — — — (36,800) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 492 Balance, at October 2, 2022 58,370 $ 5,837 $ 245,007 $ 303,837 $ (45,114) $ (187,095) $ (1,049) Repurchase of Common Stock In the second quarter of 2022, the Company adopted a new share repurchase program in which the Company is authorized to repurchase up to $100 million of its outstanding shares of common stock. The program has no specific expiration date. No shares of common stock were repurchased during the nine months ended October 1, 2023. During the nine months ended October 2, 2022, the Company repurchased 1,126,176 shares of common stock at a weighted average price of $12.83 per share pursuant to this program. Restricted Stock Awards During the nine months ended October 1, 2023, the Company granted restricted stock awards for 102,300 shares of common stock. Awards of restricted stock (or a portion thereof) vest with respect to each recipient over a one Compensation expense related to restricted stock grants was $3.4 million and $4.0 million for the nine months ended October 1, 2023 and October 2, 2022, respectively. The Company has reduced its expense for any restricted stock forfeited during the period. The following table summarizes restricted stock outstanding as of October 1, 2023, as well as activity during the nine months then ended: Restricted Shares Weighted Average Outstanding at January 1, 2023 1,006,400 $ 13.91 Granted 102,300 6.92 Vested (405,100) 14.43 Forfeited or canceled (16,800) 13.60 Outstanding at October 1, 2023 686,800 $ 12.56 As of October 1, 2023, the unrecognized total compensation cost related to unvested restricted stock was $2.8 million. That cost is expected to be recognized by the first quarter of 2025. Restricted Share Unit Awards During the nine months ended October 1, 2023, the Company granted awards for 596,200 restricted share units to certain employees pursuant to the Company’s 2020 Omnibus Stock Incentive Plan. Each restricted share unit represents one share of the Company’s common stock to be issued to the award recipient once the vesting criteria have been satisfied. Awards of restricted share units have a graded vesting schedule over a two The Company recognizes expense related to restricted share unit grants based on the grant date fair value of the units awarded, as determined by the market price of the Company’s common stock at date of grant. The expense is captured in selling, general and administrative expenses in the consolidated condensed statements of operations, which is consistent with the classification of expense for other share-based awards. The Company has elected to recognize compensation expense on a straight-line basis over the requisite service period for the entire award for awards with a graded vesting schedule. Compensation expense related to the restricted share units was $1.5 million for the nine months ended October 1, 2023. The Company reduces its expense for any restricted share units forfeited during the period. Grants of restricted share units are made primarily to executive-level personnel at the Company and, as a result, no compensation costs have been capitalized. The following table summarizes restricted share units outstanding as of October 1, 2023, as well as activity during the nine months then ended: Restricted Share Units Weighted Average Outstanding at January 1, 2023 — $ — Granted 596,200 10.36 Vested (2,100) 10.80 Forfeited or canceled (10,700) 10.80 Outstanding at October 1, 2023 583,400 $ 10.35 As of October 1, 2023, the unrecognized total compensation cost related to unvested restricted share units was $4.6 million. That cost is expected to be recognized by the end of 2026. Performance Share Awards During the nine months ended October 1, 2023, 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 October 1, 2023, as well as the activity during the nine months then ended: Performance Shares Weighted Average Outstanding at January 1, 2023 923,600 $ 13.91 Granted 467,500 10.79 Vested (82,300) 15.11 Forfeited or canceled (193,800) 14.79 Outstanding at October 1, 2023 1,115,000 $ 12.36 Compensation expense related to the performance shares was $2.4 million and $2.7 million for the nine months ended October 1, 2023 and October 2, 2022, respectively. The Company has reduced its expense for any performance shares forfeited during the period. Unrecognized compensation expense related to these performance shares was approximately $7.3 million as of October 1, 2023. Depending on the performance of the Company, any compensation expense related to these outstanding performance shares will be recognized by the first quarter of 2026. The tax benefit recognized with respect to restricted stock, restricted share units and performance shares was approximately $0.7 million for the nine months ended October 1, 2023.

Leases

Leases	9 Months Ended
	Oct. 01, 2023
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 October 1, 2023, there were no significant leases that had not commenced. The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 75,604 $ 81,644 Current portion of operating lease liabilities $ 10,829 $ 11,857 Operating lease liabilities 67,554 72,305 Total operating lease liabilities $ 78,383 $ 84,162 Property, plant and equipment, net $ 6,406 $ 5,845 Accrued expenses $ 2,256 $ 2,101 Other long-term liabilities 4,534 4,138 Total finance lease liabilities $ 6,790 $ 6,239 Lease Costs Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 696 $ 581 $ 2,056 $ 1,636 Interest on lease liabilities 79 45 224 115 Operating lease cost 4,740 4,743 14,141 14,310 Short-term lease cost 187 204 934 642 Variable lease cost 583 614 1,924 2,012 Total lease cost $ 6,285 $ 6,187 $ 19,279 $ 18,715 Other Supplemental Information Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 60 $ 35 $ 167 $ 88 Operating cash flows from operating leases 4,130 4,406 12,771 13,854 Financing cash flows from finance leases 545 525 1,853 1,535 Right-of-use assets obtained in exchange for new finance lease liabilities 1,414 182 2,450 2,525 Right-of-use assets obtained (adjusted) in exchange for new (remeasured) operating lease liabilities 236 (734) 4,199 6,089 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 October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Weighted-average remaining lease term – finance leases (in years) 3.76 3.82 Weighted-average remaining lease term – operating leases (in years) 8.77 9.29 Weighted-average discount rate – finance leases 5.16 % 3.79 % Weighted-average discount rate – operating leases 5.99 % 5.89 % Maturity Analysis A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2023 (excluding the nine months ended October 1, 2023) $ 2,733 $ 569 2024 14,999 2,518 2025 13,069 1,733 2026 12,767 1,202 2027 10,246 868 Thereafter 48,882 662 Total future minimum lease payments (undiscounted) 102,696 7,552 Less: Present value discount (24,313) (762) Total lease liability $ 78,383 $ 6,790
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 October 1, 2023, there were no significant leases that had not commenced. The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 75,604 $ 81,644 Current portion of operating lease liabilities $ 10,829 $ 11,857 Operating lease liabilities 67,554 72,305 Total operating lease liabilities $ 78,383 $ 84,162 Property, plant and equipment, net $ 6,406 $ 5,845 Accrued expenses $ 2,256 $ 2,101 Other long-term liabilities 4,534 4,138 Total finance lease liabilities $ 6,790 $ 6,239 Lease Costs Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 696 $ 581 $ 2,056 $ 1,636 Interest on lease liabilities 79 45 224 115 Operating lease cost 4,740 4,743 14,141 14,310 Short-term lease cost 187 204 934 642 Variable lease cost 583 614 1,924 2,012 Total lease cost $ 6,285 $ 6,187 $ 19,279 $ 18,715 Other Supplemental Information Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 60 $ 35 $ 167 $ 88 Operating cash flows from operating leases 4,130 4,406 12,771 13,854 Financing cash flows from finance leases 545 525 1,853 1,535 Right-of-use assets obtained in exchange for new finance lease liabilities 1,414 182 2,450 2,525 Right-of-use assets obtained (adjusted) in exchange for new (remeasured) operating lease liabilities 236 (734) 4,199 6,089 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 October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Weighted-average remaining lease term – finance leases (in years) 3.76 3.82 Weighted-average remaining lease term – operating leases (in years) 8.77 9.29 Weighted-average discount rate – finance leases 5.16 % 3.79 % Weighted-average discount rate – operating leases 5.99 % 5.89 % Maturity Analysis A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2023 (excluding the nine months ended October 1, 2023) $ 2,733 $ 569 2024 14,999 2,518 2025 13,069 1,733 2026 12,767 1,202 2027 10,246 868 Thereafter 48,882 662 Total future minimum lease payments (undiscounted) 102,696 7,552 Less: Present value discount (24,313) (762) Total lease liability $ 78,383 $ 6,790

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Oct. 01, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS During the three and nine months ended October 1, 2023, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $2.0 million, respectively. During the three and nine months ended October 2, 2022, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.5 million and $1.8 million, respectively. The following tables provide the components of net periodic benefit cost for the three and nine months ended October 1, 2023 and October 2, 2022: Three Months Ended Nine Months Ended Defined Benefit Retirement Plans (Europe) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Interest cost $ 1,791 $ 801 $ 5,304 $ 2,574 Expected return on plan assets (2,030) (924) (6,009) (2,973) Amortization of prior service cost 30 27 89 89 Amortization of net actuarial losses 229 240 680 771 Net periodic benefit cost $ 20 $ 144 $ 64 $ 461 Three Months Ended Nine Months Ended Salary Continuation Plan October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Interest cost $ 284 $ 193 $ 851 $ 579 Amortization of net actuarial losses 49 139 146 418 Net periodic benefit cost $ 333 $ 332 $ 997 $ 997 Three Months Ended Nine Months Ended nora Defined Benefit Plan October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Service cost $ 116 $ 200 $ 345 $ 636 Interest cost 275 98 822 313 Amortization of net actuarial (gains) losses (110) 44 (330) 142 Net periodic benefit cost $ 281 $ 342 $ 837 $ 1,091 In accordance with applicable accounting standards, the service cost component of net periodic benefit costs is presented within operating income in the consolidated condensed statements of operations, while all other components of net periodic benefit costs are presented within other expense, net, in the consolidated condensed statements of operations.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS The ending balance and the change in the carrying amount of goodwill for the nine months ended October 1, 2023, are as follows: Goodwill (1) (in thousands) Balance, at January 1, 2023 $ 102,417 Foreign currency translation (2) (1,193) Balance, at October 1, 2023 $ 101,224 (1) The goodwill balance is allocated entirely to the AMS reportable segment. All goodwill allocated to the EAAA reportable segment was previously written off as a result of impairment charges. (2) A portion of the goodwill balance is comprised of goodwill denominated in foreign currency attributable to the nora acquisition. The net carrying value of intangible assets other than goodwill was $55.3 million and $59.8 million at October 1, 2023 and January 1, 2023, respectively.

Segment Information

Segment Information	9 Months Ended
	Oct. 01, 2023
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. The Company 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 includes 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 (“AOI”), which includes allocations of corporate selling, general and administrative expenses. AOI excludes nora purchase accounting amortization, Thailand plant closure inventory write-down, Cyber Event impact, and restructuring, asset impairment, severance, and other, net. Intersegment revenues for the three and nine months ended October 1, 2023, were $25.0 million and $72.3 million, respectively, and intersegment revenues for the three and nine months ended October 2, 2022, were $19.7 million and $56.4 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 for the three and nine months ended October 1, 2023 and October 2, 2022, is presented in the following table: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Net sales AMS $ 178,194 $ 194,449 $ 548,716 $ 557,768 EAAA 132,812 133,308 387,664 404,596 Total net sales $ 311,006 $ 327,757 $ 936,380 $ 962,364 Segment AOI AMS $ 23,318 $ 24,975 $ 58,621 $ 74,502 EAAA 9,049 6,273 16,805 25,908 Depreciation and amortization AMS $ 4,640 $ 4,344 $ 13,457 $ 12,585 EAAA 5,805 5,481 17,134 18,076 Total depreciation and amortization $ 10,445 $ 9,825 $ 30,591 $ 30,661 A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: October 1, 2023 January 1, 2023 (in thousands) Assets AMS $ 587,424 $ 588,110 EAAA 637,825 652,921 Total segment assets 1,225,249 1,241,031 Corporate assets 101,224 110,495 Eliminations (124,832) (85,023) Total reported assets $ 1,201,641 $ 1,266,503 Reconciliations of operating income to income before income tax expense and segment AOI are presented as follows: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) AMS operating income $ 23,530 $ 24,955 $ 56,997 $ 74,618 EAAA operating income 7,455 3,087 12,373 15,369 Consolidated operating income 30,985 28,042 69,370 89,987 Interest expense 8,163 7,747 24,986 21,787 Other expense, net 6,702 124 7,674 1,688 Income before income tax expense $ 16,120 $ 20,171 $ 36,710 $ 66,512 Three Months Ended October 1, 2023 Three Months Ended October 2, 2022 AMS EAAA AMS EAAA (in thousands) Operating income $ 23,530 $ 7,455 $ 24,955 $ 3,087 Purchase accounting amortization — 1,302 — 1,204 Thailand plant closure inventory write-down — — — 477 Cyber Event impact 62 42 — — Restructuring, asset impairment, severance, and other, net (274) 250 20 1,505 AOI $ 23,318 $ 9,049 $ 24,975 $ 6,273 Nine Months Ended October 1, 2023 Nine Months Ended October 2, 2022 AMS EAAA AMS EAAA (in thousands) Operating income $ 56,997 $ 12,373 $ 74,618 $ 15,369 Purchase accounting amortization — 3,886 — 3,817 Thailand plant closure inventory write-down — — — 2,530 Cyber Event impact 554 415 — — Restructuring, asset impairment, severance, and other, net 1,070 131 (116) 4,192 AOI $ 58,621 $ 16,805 $ 74,502 $ 25,908

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Oct. 01, 2023
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Cash payments for interest amounted to $17.6 million and $13.7 million for the nine months ended October 1, 2023 and October 2, 2022, respectively. Income tax payments, net of refunds, amounted to $17.6 million and $11.5 million for the nine months ended October 1, 2023 and October 2, 2022, respectively. See Note 8 entitled “Leases” for supplemental disclosures related to finance and operating leases.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2023
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 (“AETR”) and records any changes affecting the estimated AETR in the interim period in which the change occurs, including discrete tax items. During the nine months ended October 1, 2023, the Company recorded a total income tax provision of $11.7 million on pre-tax income of $36.7 million resulting in an effective tax rate of 32.0%, as compared to a total income tax provision of $22.3 million on pre-tax income of $66.5 million resulting in an effective tax rate of 33.6% during the nine months ended October 2, 2022. The decrease in the effective tax rate for the period ended October 1, 2023, as compared to the period ended October 2, 2022, was primarily due to favorable changes related to the cash surrender value of Company-owned life insurance, non-recurring non-deductible charges related to the closure of the Company’s manufacturing facility in Thailand incurred in the first nine months of 2022, and favorable changes related to foreign exchange movements. This decrease was partially offset by a non-recurring favorable change to unrecognized tax benefits in the period ended October 2, 2022, non-deductible charges related to the substantial liquidation of subsidiaries in Brazil and Russia in the period ended October 1, 2023, and an increase in the valuation allowance on interest carryforwards. In the first nine months of 2023, the Company decreased its liability for unrecognized tax benefits by $0.3 million. As of October 1, 2023, the Company had accrued approximately $5.4 million for unrecognized tax benefits. In accordance with applicable accounting standards, the Company’s deferred tax asset as of October 1, 2023, reflects a reduction for $2.8 million of these unrecognized tax benefits.

Items Reclassified from Accumul

Items Reclassified from Accumulated Other Comprehensive Loss	9 Months Ended
	Oct. 01, 2023
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 nine months ended October 1, 2023 and October 2, 2022, are reflected in the tables below: Three Months Ended Statement of Operations Location October 1, 2023 October 2, 2022 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ (6,221) $ — Interest rate swap contracts loss Interest expense (196) (645) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (198) (450) Total loss reclassified from AOCI $ (6,615) $ (1,095) Nine Months Ended Statement of Operations Location October 1, 2023 October 2, 2022 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ (6,221) $ — Interest rate swap contracts loss Interest expense (982) (2,416) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (585) (1,420) Total loss reclassified from AOCI $ (7,788) $ (3,836) (1) The Company’s foreign subsidiaries in Russia and Brazil were substantially liquidated during the three months ended October 1, 2023, and the cumulative foreign currency translation losses associated with these entities were recognized in the consolidated condensed statements of operations. The tax impact of the cumulative foreign currency translation reclassification is approximately $1.1 million.

Restructuring and Other

Restructuring and Other	9 Months Ended
	Oct. 01, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Other	RESTRUCTURING AND OTHER Restructuring, asset impairment, other (gains) and charges were as follows: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Restructuring, asset impairment, other (gains) and charges (1) $ — $ (105) $ (2,502) $ 1,592 (1) Restructuring, asset impairment, other (gains) and charges are attributable to the EAAA reportable segment. 2021 Restructuring Plan On September 8, 2021, the Company committed to a new restructuring plan that continued to focus on efforts to improve efficiencies and decrease costs across its worldwide operations. The plan involved a reduction of approximately 188 employees and the closure of the Company’s manufacturing facility in Thailand at the end of the first quarter of 2022. Expected charges and cumulative charges incurred to date under the 2021 restructuring plan are as follows: Workforce Reduction Retention Bonuses Asset Impairment and Other Related Charges Total (in thousands) Estimated expected charges (1) $ 2,281 $ 474 $ 3,295 $ 6,050 Cumulative charges incurred to date (1) 2,281 474 3,295 6,050 (1) Charges are attributable to the EAAA reportable segment. A summary of the restructuring reserve balance, recorded within accrued expenses in the consolidated condensed balance sheets, for the 2021 restructuring plan is presented below: Workforce Reduction Retention Bonuses Asset Impairment and Other Related Charges Total (in thousands) Balance, at January 1, 2023 $ 277 $ 179 $ — $ 456 Charged to expenses 23 (19) 174 178 Deductions (300) (160) — (460) Charged to other accounts — — (174) (174) Balance, at October 1, 2023 $ — $ — $ — $ — The Company recognized a gain of $2.7 million on the sale of the Thailand facility during the second quarter of 2023. See Note 16 entitled “Assets Disposed” for additional information. In addition, during the nine months ended October 2, 2022, in conjunction with the closure of its Thailand facility, the Company recorded a write-down of inventory of $2.5 million within cost of sales in the consolidated condensed statements of operations. The Company completed the 2021 restructuring plan in the second quarter of 2023, following the sale of the Thailand manufacturing facility, as described in Note 16 entitled “Assets Disposed,” and expects the plan to yield annualized savings of approximately $1.7 million. A portion of the annualized savings was realized on the consolidated condensed statements of operations in fiscal year 2022, with the remaining portion of the annualized savings expected to be realized in fiscal year 2023.

Assets Disposed

Assets Disposed	9 Months Ended
	Oct. 01, 2023
Discontinued Operations and Disposal Groups [Abstract]
Assets Disposed	ASSETS DISPOSED On September 8, 2021, the Company announced a restructuring plan that involved the closure of its manufacturing facility in Thailand and committed to a plan to sell the Thailand facility in connection with this restructuring plan. See Note 15 entitled “Restructuring and Other” for additional information. During the second quarter of 2023, the Company completed the sale of the Thailand manufacturing facility for a selling price of $6.6 million and recognized a gain of $2.7 million, which is recorded in restructuring, asset impairment, other (gains) and charges in the consolidated condensed statements of operations and is attributable to the EAAA reportable segment. The Company determined that the Thailand facility sale did not meet the criteria for classification as discontinued operations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES From time to time, we are a party to legal proceedings, whether arising in the ordinary course of business or otherwise. See disclosure under the headings “Lawsuit by Former CEO in Connection with Termination” and “Putative Class Action Lawsuit” set forth in Note 18 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended January 1, 2023 . In the lawsuit by the former CEO, Mr. Gould filed a motion for reconsideration of the Court’s grant of summary judgment in favor of the Company on Mr. Gould’s breach of contract claim. On July 31, 2023, the Court denied that motion for reconsideration. Also on July 31, 2023, the Company filed a motion to dismiss without prejudice its counterclaim against Mr. Gould for breach of fiduciary duty. On August 2, 2023, the Court granted that motion to dismiss, resulting in a final judgment in the trial court. The court’s award of summary judgment in favor of the Company on Mr. Gould’s breach of contract claim has been appealed by Mr. Gould to the U.S. Court of Appeals for the 11th Circuit. The Company believes Mr. Gould’s lawsuit and the appeal therefrom is without merit and intends to defend vigorously against it. In the putative class action, the Court preliminarily approved a settlement of the lawsuit for $7.5 million, and the Company’s insurers funded the settlement amount into escrow. As a result, in the second quarter of 2023, the Company reversed the $7.5 million asset and liability that were previously recorded in the first quarter of 2023. Putative class member proofs of claims were due by September 13, 2023, and in a hearing on October 19, 2023, the Court approved the final settlement of the action.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Pay vs Performance Disclosure
Net income	$ 9,879	$ 14,065	$ 24,962	$ 44,176

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 01, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 01, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation References in this Quarterly Report on Form 10-Q to “Interface,” “the Company,” “we,” “our,” “ours” and “us” refer to Interface, Inc. and its subsidiaries or any of them, unless the context requires otherwise. 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 1, 2023, 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 1, 2023, 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 nine-month periods ended October 1, 2023 and October 2, 2022, both include 39 weeks. The three-month periods ended October 1, 2023 and October 2, 2022, both include 13 weeks.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In July 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-03, “ Presentation of Financial Statements (Topic 205), Income Statement — Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), Compensation — Stock Compensation (Topic 718) .” This ASU amends various paragraphs in the accounting codification pursuant to the issuance of Commission Staff Accounting Bulletin (“SAB”) number 120. The ASU provides clarifying guidance related to employee and non-employee share-based payment accounting, including guidance related to spring-loaded awards. ASU 2023-03 is effective upon issuance. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, “ Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions .” This ASU clarifies that a contractual restriction on the sale of an equity security is not considered in measuring fair value. The ASU also requires certain disclosures for equity securities subject to contractual sale restrictions. The new guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company adopted this standard on April 2, 2023. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Oct. 01, 2023
Revenues [Abstract]
Revenue by Products and Services	The Company generates revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material and from the installation of carpet and other flooring-related material. A summary of these revenue streams, as a percentage of net sales, for the three and nine months ended October 1, 2023 and October 2, 2022 is as follows: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Revenue from the sale of flooring material 98 % 96 % 98 % 97 % Revenue from installation of flooring material 2 % 4 % 2 % 3 %
Disaggregation of Revenue	For the three and nine months ended October 1, 2023 and October 2, 2022, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Nine Months Ended Geography October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Americas 57.3 % 59.4 % 58.6 % 57.9 % Europe 30.3 % 28.2 % 30.0 % 29.3 % Asia-Pacific 12.4 % 12.4 % 11.4 % 12.8 %

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 01, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: October 1, 2023 January 1, 2023 (in thousands) Finished goods $ 207,885 $ 209,478 Work-in-process 19,103 15,463 Raw materials 62,332 81,386 Inventories, net $ 289,320 $ 306,327

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Oct. 01, 2023
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 Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands, except per share data) Numerator: Net income $ 9,879 $ 14,065 $ 24,962 $ 44,176 Less: distributed and undistributed earnings available to participating securities (117) (246) (327) (716) Distributed and undistributed earnings available to common shareholders $ 9,762 $ 13,819 $ 24,635 $ 43,460 Denominator: Weighted average shares outstanding 57,420 57,656 57,326 58,139 Participating securities 687 1,025 761 960 Shares for basic EPS 58,107 58,681 58,087 59,099 Dilutive effect of non-participating securities 235 — 146 — Shares for diluted EPS 58,342 58,681 58,233 59,099 Basic EPS $ 0.17 $ 0.24 $ 0.43 $ 0.75 Diluted EPS $ 0.17 $ 0.24 $ 0.43 $ 0.75

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Oct. 01, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Long-term debt consisted of the following: October 1, 2023 January 1, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility: Revolving loan borrowings $ 5,895 7.33 % $ 24,250 5.29 % Term loan borrowings 143,361 6.63 % 202,082 5.84 % Total borrowings under Syndicated Credit Facility 149,256 6.66 % 226,332 5.78 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 449,256 526,332 Less: Unamortized debt issuance costs (4,865) (6,118) Total debt, net 444,391 520,214 Less: Current portion of long-term debt (8,492) (10,211) Total long-term debt, net $ 435,899 $ 510,003 (1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility and the stated rate of interest for the 5.50% Senior Notes due 2028, without the effect of debt issuance costs.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Oct. 01, 2023
Stockholders' Equity Note [Abstract]
Schedule of Shareholders' Equity	The following tables depict the activity in the accounts which make up shareholders’ equity for the nine months ended October 1, 2023 and October 2, 2022: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (in thousands, except per share data) Balance, at January 1, 2023 58,106 $ 5,811 $ 244,159 $ 278,639 $ (27,548) $ (138,775) $ (749) Net loss — — — (714) — — — Issuances of stock related to performance shares 79 8 (8) — — — — Cash dividends declared, $0.01 per common share — — — (580) — — — Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (132) (14) 1,850 — — — — Pension liability adjustment — — — — (279) — — Foreign currency translation adjustment — — — — — 4,930 — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 299 Balance, at April 2, 2023 58,053 $ 5,805 $ 246,001 $ 277,345 $ (27,827) $ (133,845) $ (450) Net income — — — 15,797 — — — Issuances of stock related to restricted share units and performance shares 5 1 (1) — — — — Restricted stock issuances 102 10 697 — — — — Unrecognized compensation expense related to restricted stock awards — — (708) — — — — Cash dividends declared, $0.01 per common share — — — (581) — — — Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (48) (5) 1,808 — — — — Pension liability adjustment — — — — (800) — — Foreign currency translation adjustment — — — — — 1,361 — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 300 Balance, at July 2, 2023 58,112 $ 5,811 $ 247,797 $ 292,561 $ (28,627) $ (132,484) $ (150) Net income — — — 9,879 — — — Cash dividends declared, $0.01 per common share — — — (581) — — — Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (5) — 2,182 — — — — Pension liability adjustment — — — — 202 — — Foreign currency translation adjustment — — — — — (9,176) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 150 Balance, at October 1, 2023 58,107 $ 5,811 $ 249,979 $ 301,859 $ (28,425) $ (141,660) $ — SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW (in thousands, except per share data) Balance, at January 2, 2022 59,055 $ 5,905 $ 253,110 $ 261,434 $ (53,888) $ (100,441) $ (2,722) Net income — — — 13,293 — — — Restricted stock issuances 303 30 3,966 — — — — Unrecognized compensation expense related to restricted stock awards — — (3,996) — — — — Cash dividends declared, $0.01 per common share — — — (592) — — — Compensation expense related to share-based plans, net of shares received for tax withholdings (30) (2) 1,787 — — — — Pension liability adjustment — — — — 1,539 — — Foreign currency translation adjustment — — — — — (13,184) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 641 Balance, at April 3, 2022 59,328 $ 5,933 $ 254,867 $ 274,135 $ (52,349) $ (113,625) $ (2,081) Net income — — — 16,818 — — — Restricted stock issuances 198 20 2,533 — — — — Unrecognized compensation expense related to restricted stock awards — — (2,553) — — — — Cash dividends declared, $0.01 per common share — — — (595) — — — Compensation expense related to share-based plans, net of forfeitures (14) (1) 2,145 — — — — Share repurchases (415) (42) (5,540) — — — — Pension liability adjustment — — — — 3,842 — — Foreign currency translation adjustment — — — — — (36,670) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 540 Balance, at July 3, 2022 59,097 $ 5,910 $ 251,452 $ 290,358 $ (48,507) $ (150,295) $ (1,541) Net income — — — 14,065 — — — Cash dividends declared, $0.01 per common share — — — (586) — — — Compensation expense related to share-based plans, net of forfeitures (16) (2) 2,353 — — — — Share repurchases (711) (71) (8,798) — — — — Pension liability adjustment — — — — 3,393 — — Foreign currency translation adjustment — — — — — (36,800) — Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 492 Balance, at October 2, 2022 58,370 $ 5,837 $ 245,007 $ 303,837 $ (45,114) $ (187,095) $ (1,049)
Schedule of Restricted Stock Outstanding and Activity	The following table summarizes restricted stock outstanding as of October 1, 2023, as well as activity during the nine months then ended: Restricted Shares Weighted Average Outstanding at January 1, 2023 1,006,400 $ 13.91 Granted 102,300 6.92 Vested (405,100) 14.43 Forfeited or canceled (16,800) 13.60 Outstanding at October 1, 2023 686,800 $ 12.56
Schedule of Restricted Share Units Outstanding and Activity	The following table summarizes restricted share units outstanding as of October 1, 2023, as well as activity during the nine months then ended: Restricted Share Units Weighted Average Outstanding at January 1, 2023 — $ — Granted 596,200 10.36 Vested (2,100) 10.80 Forfeited or canceled (10,700) 10.80 Outstanding at October 1, 2023 583,400 $ 10.35
Schedule of Performance Shares Outstanding and Activity	The following table summarizes the performance shares outstanding as of October 1, 2023, as well as the activity during the nine months then ended: Performance Shares Weighted Average Outstanding at January 1, 2023 923,600 $ 13.91 Granted 467,500 10.79 Vested (82,300) 15.11 Forfeited or canceled (193,800) 14.79 Outstanding at October 1, 2023 1,115,000 $ 12.36

Leases (Tables)

Leases (Tables)	9 Months Ended
	Oct. 01, 2023
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 October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 75,604 $ 81,644 Current portion of operating lease liabilities $ 10,829 $ 11,857 Operating lease liabilities 67,554 72,305 Total operating lease liabilities $ 78,383 $ 84,162 Property, plant and equipment, net $ 6,406 $ 5,845 Accrued expenses $ 2,256 $ 2,101 Other long-term liabilities 4,534 4,138 Total finance lease liabilities $ 6,790 $ 6,239
Schedule of Lease Costs	Lease Costs Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 696 $ 581 $ 2,056 $ 1,636 Interest on lease liabilities 79 45 224 115 Operating lease cost 4,740 4,743 14,141 14,310 Short-term lease cost 187 204 934 642 Variable lease cost 583 614 1,924 2,012 Total lease cost $ 6,285 $ 6,187 $ 19,279 $ 18,715
Other Supplemental Information, Lessee	Other Supplemental Information Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 60 $ 35 $ 167 $ 88 Operating cash flows from operating leases 4,130 4,406 12,771 13,854 Financing cash flows from finance leases 545 525 1,853 1,535 Right-of-use assets obtained in exchange for new finance lease liabilities 1,414 182 2,450 2,525 Right-of-use assets obtained (adjusted) in exchange for new (remeasured) operating lease liabilities 236 (734) 4,199 6,089
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 October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Weighted-average remaining lease term – finance leases (in years) 3.76 3.82 Weighted-average remaining lease term – operating leases (in years) 8.77 9.29 Weighted-average discount rate – finance leases 5.16 % 3.79 % Weighted-average discount rate – operating leases 5.99 % 5.89 %
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) 2023 (excluding the nine months ended October 1, 2023) $ 2,733 $ 569 2024 14,999 2,518 2025 13,069 1,733 2026 12,767 1,202 2027 10,246 868 Thereafter 48,882 662 Total future minimum lease payments (undiscounted) 102,696 7,552 Less: Present value discount (24,313) (762) Total lease liability $ 78,383 $ 6,790
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) 2023 (excluding the nine months ended October 1, 2023) $ 2,733 $ 569 2024 14,999 2,518 2025 13,069 1,733 2026 12,767 1,202 2027 10,246 868 Thereafter 48,882 662 Total future minimum lease payments (undiscounted) 102,696 7,552 Less: Present value discount (24,313) (762) Total lease liability $ 78,383 $ 6,790

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Oct. 01, 2023
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The following tables provide the components of net periodic benefit cost for the three and nine months ended October 1, 2023 and October 2, 2022: Three Months Ended Nine Months Ended Defined Benefit Retirement Plans (Europe) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Interest cost $ 1,791 $ 801 $ 5,304 $ 2,574 Expected return on plan assets (2,030) (924) (6,009) (2,973) Amortization of prior service cost 30 27 89 89 Amortization of net actuarial losses 229 240 680 771 Net periodic benefit cost $ 20 $ 144 $ 64 $ 461 Three Months Ended Nine Months Ended Salary Continuation Plan October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Interest cost $ 284 $ 193 $ 851 $ 579 Amortization of net actuarial losses 49 139 146 418 Net periodic benefit cost $ 333 $ 332 $ 997 $ 997 Three Months Ended Nine Months Ended nora Defined Benefit Plan October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Service cost $ 116 $ 200 $ 345 $ 636 Interest cost 275 98 822 313 Amortization of net actuarial (gains) losses (110) 44 (330) 142 Net periodic benefit cost $ 281 $ 342 $ 837 $ 1,091

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The ending balance and the change in the carrying amount of goodwill for the nine months ended October 1, 2023, are as follows: Goodwill (1) (in thousands) Balance, at January 1, 2023 $ 102,417 Foreign currency translation (2) (1,193) Balance, at October 1, 2023 $ 101,224 (1) The goodwill balance is allocated entirely to the AMS reportable segment. All goodwill allocated to the EAAA reportable segment was previously written off as a result of impairment charges. (2) A portion of the goodwill balance is comprised of goodwill denominated in foreign currency attributable to the nora acquisition.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 01, 2023
Segment Reporting [Abstract]
Schedule of Operating Segment Information	Segment information for the three and nine months ended October 1, 2023 and October 2, 2022, is presented in the following table: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Net sales AMS $ 178,194 $ 194,449 $ 548,716 $ 557,768 EAAA 132,812 133,308 387,664 404,596 Total net sales $ 311,006 $ 327,757 $ 936,380 $ 962,364 Segment AOI AMS $ 23,318 $ 24,975 $ 58,621 $ 74,502 EAAA 9,049 6,273 16,805 25,908 Depreciation and amortization AMS $ 4,640 $ 4,344 $ 13,457 $ 12,585 EAAA 5,805 5,481 17,134 18,076 Total depreciation and amortization $ 10,445 $ 9,825 $ 30,591 $ 30,661
Reconciliation of Assets from Segment to Consolidated	A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: October 1, 2023 January 1, 2023 (in thousands) Assets AMS $ 587,424 $ 588,110 EAAA 637,825 652,921 Total segment assets 1,225,249 1,241,031 Corporate assets 101,224 110,495 Eliminations (124,832) (85,023) Total reported assets $ 1,201,641 $ 1,266,503
Reconciliation of Operating Income to Income Before Income Tax Expense and Segment AOI	Reconciliations of operating income to income before income tax expense and segment AOI are presented as follows: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) AMS operating income $ 23,530 $ 24,955 $ 56,997 $ 74,618 EAAA operating income 7,455 3,087 12,373 15,369 Consolidated operating income 30,985 28,042 69,370 89,987 Interest expense 8,163 7,747 24,986 21,787 Other expense, net 6,702 124 7,674 1,688 Income before income tax expense $ 16,120 $ 20,171 $ 36,710 $ 66,512 Three Months Ended October 1, 2023 Three Months Ended October 2, 2022 AMS EAAA AMS EAAA (in thousands) Operating income $ 23,530 $ 7,455 $ 24,955 $ 3,087 Purchase accounting amortization — 1,302 — 1,204 Thailand plant closure inventory write-down — — — 477 Cyber Event impact 62 42 — — Restructuring, asset impairment, severance, and other, net (274) 250 20 1,505 AOI $ 23,318 $ 9,049 $ 24,975 $ 6,273 Nine Months Ended October 1, 2023 Nine Months Ended October 2, 2022 AMS EAAA AMS EAAA (in thousands) Operating income $ 56,997 $ 12,373 $ 74,618 $ 15,369 Purchase accounting amortization — 3,886 — 3,817 Thailand plant closure inventory write-down — — — 2,530 Cyber Event impact 554 415 — — Restructuring, asset impairment, severance, and other, net 1,070 131 (116) 4,192 AOI $ 58,621 $ 16,805 $ 74,502 $ 25,908

Items Reclassified from Accum_2

Items Reclassified from Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Oct. 01, 2023
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 nine months ended October 1, 2023 and October 2, 2022, are reflected in the tables below: Three Months Ended Statement of Operations Location October 1, 2023 October 2, 2022 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ (6,221) $ — Interest rate swap contracts loss Interest expense (196) (645) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (198) (450) Total loss reclassified from AOCI $ (6,615) $ (1,095) Nine Months Ended Statement of Operations Location October 1, 2023 October 2, 2022 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ (6,221) $ — Interest rate swap contracts loss Interest expense (982) (2,416) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (585) (1,420) Total loss reclassified from AOCI $ (7,788) $ (3,836) (1) The Company’s foreign subsidiaries in Russia and Brazil were substantially liquidated during the three months ended October 1, 2023, and the cumulative foreign currency translation losses associated with these entities were recognized in the consolidated condensed statements of operations. The tax impact of the cumulative foreign currency translation reclassification is approximately $1.1 million.

Restructuring and Other (Tables

Restructuring and Other (Tables)	9 Months Ended
	Oct. 01, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring, Asset Impairment, Other Gains and Charges	Restructuring, asset impairment, other (gains) and charges were as follows: Three Months Ended Nine Months Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 (in thousands) Restructuring, asset impairment, other (gains) and charges (1) $ — $ (105) $ (2,502) $ 1,592 (1) Restructuring, asset impairment, other (gains) and charges are attributable to the EAAA reportable segment.
Schedule of Expected and Cumulative Restructuring, Asset Impairment and Other Charges	Expected charges and cumulative charges incurred to date under the 2021 restructuring plan are as follows: Workforce Reduction Retention Bonuses Asset Impairment and Other Related Charges Total (in thousands) Estimated expected charges (1) $ 2,281 $ 474 $ 3,295 $ 6,050 Cumulative charges incurred to date (1) 2,281 474 3,295 6,050 (1) Charges are attributable to the EAAA reportable segment.
Schedule of Restructuring Reserve by Type of Cost	A summary of the restructuring reserve balance, recorded within accrued expenses in the consolidated condensed balance sheets, for the 2021 restructuring plan is presented below: Workforce Reduction Retention Bonuses Asset Impairment and Other Related Charges Total (in thousands) Balance, at January 1, 2023 $ 277 $ 179 $ — $ 456 Charged to expenses 23 (19) 174 178 Deductions (300) (160) — (460) Charged to other accounts — — (174) (174) Balance, at October 1, 2023 $ — $ — $ — $ —

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Products and Services (Details)	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Revenue from the sale of flooring material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	98%	96%	98%	97%
Revenue from installation of flooring material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	2%	4%	2%	3%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details)	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Americas
Disaggregation of Revenue [Line Items]
Percentage of net sales	57.30%	59.40%	58.60%	57.90%
Europe
Disaggregation of Revenue [Line Items]
Percentage of net sales	30.30%	28.20%	30%	29.30%
Asia-Pacific
Disaggregation of Revenue [Line Items]
Percentage of net sales	12.40%	12.40%	11.40%	12.80%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 207,885	$ 209,478
Work-in-process	19,103	15,463
Raw materials	62,332	81,386
Inventories, net	$ 289,320	$ 306,327

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Numerator:
Net income	$ 9,879	$ 14,065	$ 24,962	$ 44,176
Distributed and undistributed earnings available to participating securities, basic	(117)	(246)	(327)	(716)
Distributed and undistributed earnings available to participating securities, diluted	(117)	(246)	(327)	(716)
Distributed and undistributed earnings available to common shareholders, basic	9,762	13,819	24,635	43,460
Distributed and undistributed earnings available to common shareholders, diluted	$ 9,762	$ 13,819	$ 24,635	$ 43,460
Denominator:
Weighted average shares outstanding (in shares)	57,420	57,656	57,326	58,139
Participating securities (in shares)	687	1,025	761	960
Shares for basic earnings per share (in shares)	58,107	58,681	58,087	59,099
Dilutive effect of non-participating securities (in shares)	235	0	146	0
Shares for diluted earnings per share (in shares)	58,342	58,681	58,233	59,099
Earnings per share – basic (in dollars per share)	$ 0.17	$ 0.24	$ 0.43	$ 0.75
Earnings per share – diluted (in dollars per share)	$ 0.17	$ 0.24	$ 0.43	$ 0.75

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended	9 Months Ended
	Oct. 01, 2023	Oct. 01, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of EPS (in shares)	855,785	855,785

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 449,256	$ 526,332
Less: Unamortized debt issuance costs	(4,865)	(6,118)
Total debt, net	444,391	520,214
Less: Current portion of long-term debt	(8,492)	(10,211)
Long-term debt, net	435,899	510,003
Syndicated Facility Agreement
Debt Instrument [Line Items]
Long-term debt, gross	$ 149,256	$ 226,332
Weighted average interest rate on borrowings outstanding (percentage)	6.66%	5.78%
Syndicated Facility Agreement | Revolving Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 5,895	$ 24,250
Weighted average interest rate on borrowings outstanding (percentage)	7.33%	5.29%
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 143,361	$ 202,082
Weighted average interest rate on borrowings outstanding (percentage)	6.63%	5.84%
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000
Less: Unamortized debt issuance costs	(3,700)
Long-term debt, net	$ 296,300
Stated interest rate (percentage)	5.50%	5.50%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Debt Instrument [Line Items]
Long-term debt, net	$ 435,899	$ 510,003
Long-term debt, gross	449,256	526,332
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	4,865	6,118
Syndicated Facility Agreement
Debt Instrument [Line Items]
Letters of credit outstanding	1,600	1,600
Long-term debt, gross	149,256	226,332
Unamortized debt issuance costs, revolving loan facility, net	1,500	1,800
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	143,361	202,082
Term Loan and Senior Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	$ 4,900	$ 6,100
Senior Notes
Debt Instrument [Line Items]
Stated interest rate (percentage)	5.50%	5.50%
Long-term debt, fair value	$ 258,800
Long-term debt, net	296,300
Long-term debt, gross	300,000	$ 300,000
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	$ 3,700

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - Interest Rate Swap - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023	Dec. 02, 2020
Derivative [Line Items]
Derivative, notional amount			$ 250
Accumulated other comprehensive loss, loss of discontinued cash flow hedge, before tax	$ 0	$ (1)

Shareholders' Equity - Activity

Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Oct. 02, 2022	Jul. 03, 2022	Apr. 03, 2022	Oct. 01, 2023	Oct. 02, 2022
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period			$ 361,537				$ 361,537
Net income (loss)	$ 9,879			$ 14,065			$ 24,962	$ 44,176
Share repurchases (in shares)							0	(1,126,176)
Pension liability adjustment	202			3,393			$ (877)	$ 8,774
Foreign currency translation adjustment	(9,176)			(36,800)			(2,885)	(86,654)
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	150			$ 492			749	$ 1,673
Balance at end of period	$ 387,564						$ 387,564
Cash dividends declared, per common share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
COMMON STOCK
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	58,112,000	58,053,000	58,106,000	59,097,000	59,328,000	59,055,000	58,106,000	59,055,000
Balance at beginning of period	$ 5,811	$ 5,805	$ 5,811	$ 5,910	$ 5,933	$ 5,905	$ 5,811	$ 5,905
Issuances of stock related to restricted share units and performance shares (in shares)		5,000	79,000
Issuances of stock related to restricted share units and performance shares		$ 1	$ 8
Restricted stock issuances (in shares)		102,000			198,000	303,000
Restricted stock issuances		$ 10			$ 20	$ 30
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (in shares)	(5,000)	(48,000)	(132,000)	(16,000)	(14,000)	(30,000)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	$ 0	$ (5)	$ (14)	$ (2)	$ (1)	$ (2)
Share repurchases (in shares)				(711,000)	(415,000)
Share repurchases				$ (71)	$ (42)
Balance at end of period (in shares)	58,107,000	58,112,000	58,053,000	58,370,000	59,097,000	59,328,000	58,107,000	58,370,000
Balance at end of period	$ 5,811	$ 5,811	$ 5,805	$ 5,837	$ 5,910	$ 5,933	$ 5,811	$ 5,837
ADDITIONAL PAID-IN CAPITAL
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	247,797	246,001	244,159	251,452	254,867	253,110	244,159	253,110
Issuances of stock related to restricted share units and performance shares		(1)	(8)
Restricted stock issuances		697			2,533	3,966
Unrecognized compensation expense related to restricted stock awards		(708)			(2,553)	(3,996)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	2,182	1,808	1,850	2,353	2,145	1,787
Share repurchases				(8,798)	(5,540)
Balance at end of period	249,979	247,797	246,001	245,007	251,452	254,867	249,979	245,007
RETAINED EARNINGS
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	292,561	277,345	278,639	290,358	274,135	261,434	278,639	261,434
Net income (loss)	9,879	15,797	(714)	14,065	16,818	13,293
Cash dividends declared	(581)	(581)	(580)	(586)	(595)	(592)
Balance at end of period	301,859	292,561	277,345	303,837	290,358	274,135	301,859	303,837
PENSION LIABILITY
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(28,627)	(27,827)	(27,548)	(48,507)	(52,349)	(53,888)	(27,548)	(53,888)
Pension liability adjustment	202	(800)	(279)	3,393	3,842	1,539
Balance at end of period	(28,425)	(28,627)	(27,827)	(45,114)	(48,507)	(52,349)	(28,425)	(45,114)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(132,484)	(133,845)	(138,775)	(150,295)	(113,625)	(100,441)	(138,775)	(100,441)
Foreign currency translation adjustment	(9,176)	1,361	4,930	(36,800)	(36,670)	(13,184)
Balance at end of period	(141,660)	(132,484)	(133,845)	(187,095)	(150,295)	(113,625)	(141,660)	(187,095)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(150)	(450)	(749)	(1,541)	(2,081)	(2,722)	(749)	(2,722)
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	150	300	299	492	540	641
Balance at end of period	$ 0	$ (150)	$ (450)	$ (1,049)	$ (1,541)	$ (2,081)	$ 0	$ (1,049)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	May 17, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program, authorized amount			$ 100,000
Share repurchases (in shares)	0	1,126,176
Share repurchases, weighted average price (in dollars per share)		$ 12.83
Share-based compensation expense	$ 7,334	$ 6,679
Share-based compensation expense, tax benefit	$ 700
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	102,300
Share-based compensation expense	$ 3,400	4,000
Unrecognized compensation expense related to unvested share-based awards	$ 2,800
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	596,200
Share-based compensation expense	$ 1,500
Unrecognized compensation expense related to unvested share-based awards	$ 4,600
Number of shares of common stock to be issued for each restricted share unit vested (in shares)	1
Restricted Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years
Restricted Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in shares)	467,500
Share-based compensation expense	$ 2,400	$ 2,700
Unrecognized compensation expense related to unvested share-based awards	$ 7,300
Number of shares that may be issued in settlement of the performance shares to the award recipient, upper limit (percentage)	200%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	1 year
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock	9 Months Ended
	Oct. 01, 2023 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	1,006,400
Granted (in shares) | shares	102,300
Vested (in shares) | shares	(405,100)
Forfeited or canceled (in shares) | shares	(16,800)
Outstanding at end of period (in shares) | shares	686,800
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 13.91
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	6.92
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	14.43
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares	13.60
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.56

Shareholders' Equity - Restri_2

Shareholders' Equity - Restricted Share Units Outstanding (Details) - Restricted Share Units	9 Months Ended
	Oct. 01, 2023 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	0
Granted (in shares) | shares	596,200
Vested (in shares) | shares	(2,100)
Forfeited or canceled (in shares) | shares	(10,700)
Outstanding at end of period (in shares) | shares	583,400
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 0
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	10.36
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	10.80
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares	10.80
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 10.35

Shareholders' Equity - Performa

Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares	9 Months Ended
	Oct. 01, 2023 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	923,600
Granted (in shares) | shares	467,500
Vested (in shares) | shares	(82,300)
Forfeited or canceled (in shares) | shares	(193,800)
Outstanding at end of period (in shares) | shares	1,115,000
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 13.91
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	10.79
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	15.11
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares	14.79
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.36

Leases - Narrative (Details)

Leases - Narrative (Details)	9 Months Ended
	Oct. 01, 2023
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	Oct. 01, 2023	Jan. 01, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 75,604	$ 81,644
Current portion of operating lease liabilities	10,829	11,857
Operating lease liabilities	67,554	72,305
Total operating lease liabilities	78,383	84,162
Finance lease right-of-use assets, net	$ 6,406	$ 5,845
Finance lease right-of-use asset, consolidated condensed balance sheet location	Property, plant and equipment, net	Property, plant and equipment, net
Current portion of finance lease liabilities	$ 2,256	$ 2,101
Finance lease liability, current, consolidated condensed balance sheet location	Accrued expenses	Accrued expenses
Finance lease liabilities	$ 4,534	$ 4,138
Finance lease liability, noncurrent, consolidated condensed balance sheet location	Other long-term liabilities	Other long-term liabilities
Total finance lease liabilities	$ 6,790	$ 6,239

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Leases [Abstract]
Finance lease cost: Amortization of right-of-use assets	$ 696	$ 581	$ 2,056	$ 1,636
Finance lease cost: Interest on lease liabilities	79	45	224	115
Operating lease cost	4,740	4,743	14,141	14,310
Short-term lease cost	187	204	934	642
Variable lease cost	583	614	1,924	2,012
Total lease cost	$ 6,285	$ 6,187	$ 19,279	$ 18,715

Leases - Other Supplemental Inf

Leases - Other Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Leases [Abstract]
Operating cash flows from finance leases	$ 60	$ 35	$ 167	$ 88
Operating cash flows from operating leases	4,130	4,406	12,771	13,854
Financing cash flows from finance leases	545	525	1,853	1,535
Right-of-use assets obtained in exchange for new finance lease liabilities	1,414	182	2,450	2,525
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 236		$ 4,199	$ 6,089
Right-of-use assets adjusted in exchange for remeasured operating lease liabilities		$ (734)

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Oct. 01, 2023	Jan. 01, 2023
Leases [Abstract]
Weighted-average remaining lease term – finance leases (in years)	3 years 9 months 3 days	3 years 9 months 25 days
Weighted-average remaining lease term – operating leases (in years)	8 years 9 months 7 days	9 years 3 months 14 days
Weighted-average discount rate – finance leases (percentage)	5.16%	3.79%
Weighted-average discount rate – operating leases (percentage)	5.99%	5.89%

Leases - Maturity of Lease Paym

Leases - Maturity of Lease Payments (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023 (excluding the nine months ended October 1, 2023)	$ 2,733
2024	14,999
2025	13,069
2026	12,767
2027	10,246
Thereafter	48,882
Total future minimum lease payments (undiscounted)	102,696
Less: Present value discount	(24,313)
Total lease liability	78,383	$ 84,162
Lessee, Finance Lease, Liability, Payment, Due [Abstract]
2023 (excluding the nine months ended October 1, 2023)	569
2024	2,518
2025	1,733
2026	1,202
2027	868
Thereafter	662
Total future minimum lease payments (undiscounted)	7,552
Less: Present value discount	(762)
Total lease liability	$ 6,790	$ 6,239

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Retirement Benefits [Abstract]
Multiemployer plan, employer contribution	$ 0.7	$ 0.5	$ 2	$ 1.8

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Europe
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 1,791	$ 801	$ 5,304	$ 2,574
Expected return on plan assets	(2,030)	(924)	(6,009)	(2,973)
Amortization of prior service cost	30	27	89	89
Amortization of net actuarial (gains) losses	229	240	680	771
Net periodic benefit cost	20	144	64	461
Salary Continuation Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	284	193	851	579
Amortization of net actuarial (gains) losses	49	139	146	418
Net periodic benefit cost	333	332	997	997
nora Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Service cost	116	200	345	636
Interest cost	275	98	822	313
Amortization of net actuarial (gains) losses	(110)	44	(330)	142
Net periodic benefit cost	$ 281	$ 342	$ 837	$ 1,091

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amounts of Goodwill (Details) - Operating Segments - AMS $ in Thousands	9 Months Ended
	Oct. 01, 2023 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 102,417
Foreign currency translation	(1,193)
Balance at end of period	$ 101,224

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of intangible assets, excluding goodwill, net	$ 55.3	$ 59.8

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)
Segment Reporting [Abstract]
Number of operating segments			2
Number of reportable segments			2
Intersegment revenues	$ 25	$ 19.7	$ 72.3	$ 56.4

Segment Information - Operating

Segment Information - Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Segment Reporting Information [Line Items]
Net sales	$ 311,006	$ 327,757	$ 936,380	$ 962,364
Depreciation and amortization	10,445	9,825	30,591	30,661
Operating Segments | AMS
Segment Reporting Information [Line Items]
Net sales	178,194	194,449	548,716	557,768
AOI	23,318	24,975	58,621	74,502
Depreciation and amortization	4,640	4,344	13,457	12,585
Operating Segments | EAAA
Segment Reporting Information [Line Items]
Net sales	132,812	133,308	387,664	404,596
AOI	9,049	6,273	16,805	25,908
Depreciation and amortization	$ 5,805	$ 5,481	$ 17,134	$ 18,076

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,201,641	$ 1,266,503
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,225,249	1,241,031
Operating Segments | AMS
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	587,424	588,110
Operating Segments | EAAA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	637,825	652,921
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	101,224	110,495
Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (124,832)	$ (85,023)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment AOI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	$ 30,985	$ 28,042	$ 69,370	$ 89,987
Interest expense	8,163	7,747	24,986	21,787
Other expense, net	6,702	124	7,674	1,688
Income before income tax expense	16,120	20,171	36,710	66,512
Purchase accounting amortization			3,886	3,817
Operating Segments | AMS
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	23,530	24,955	56,997	74,618
Purchase accounting amortization	0	0	0	0
Thailand plant closure inventory write-down	0	0	0	0
Cyber Event impact	62	0	554	0
Restructuring, asset impairment, severance, and other, net	(274)	20	1,070	(116)
AOI	23,318	24,975	58,621	74,502
Operating Segments | EAAA
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	7,455	3,087	12,373	15,369
Purchase accounting amortization	1,302	1,204	3,886	3,817
Thailand plant closure inventory write-down	0	477	0	2,530
Cyber Event impact	42	0	415	0
Restructuring, asset impairment, severance, and other, net	250	1,505	131	4,192
AOI	$ 9,049	$ 6,273	$ 16,805	$ 25,908

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
Supplemental Cash Flow Information [Abstract]
Cash payments for interest	$ 17.6	$ 13.7
Income tax payments, net of refunds	$ 17.6	$ 11.5

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ 6,241	$ 6,106	$ 11,748	$ 22,336
Income before income tax expense	16,120	$ 20,171	$ 36,710	$ 66,512
Effective income tax rate (percentage)			32%	33.60%
Unrecognized tax benefits, period increase (decrease)			$ (300)
Unrecognized tax benefits	5,400		5,400
Reduction of deferred tax asset for unrecognized tax benefits	2,800		2,800
Amount of unrecognized tax benefit reasonably possible to be recognized in next twelve months	500		500
Unrecognized tax benefits that would impact effective tax rate	$ 500		$ 500

Items Reclassified from Accum_3

Items Reclassified from Accumulated Other Comprehensive Loss - Schedule of Items Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Equity [Abstract]
Loss on foreign subsidiary liquidation	$ (6,221)	$ 0	$ (6,221)	$ 0
Interest rate swap contracts loss	$ (196)	$ (645)	$ (982)	$ (2,416)
Discontinued cash flow hedge, reclassification out of accumulated other comprehensive loss, consolidated condensed statement of operations location	Interest expense	Interest expense	Interest expense	Interest expense
Amortization of benefit plan net actuarial losses and prior service cost	$ (198)	$ (450)	$ (585)	$ (1,420)
Total loss reclassified from accumulated other comprehensive loss	(6,615)	$ (1,095)	(7,788)	$ (3,836)
Loss on foreign subsidiary liquidation, tax	$ (1,100)		$ (1,100)

Restructuring and Other - Restr

Restructuring and Other - Restructuring, Asset Impairment, Other Gains and Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Restructuring Activities [Line Items]
Restructuring, asset impairment, other (gains) and charges	$ 0	$ (105)	$ (2,502)	$ 1,592
Operating Segments | EAAA
Restructuring Activities [Line Items]
Restructuring, asset impairment, other (gains) and charges	$ 0	$ (105)	$ (2,502)	$ 1,592

Restructuring and Other - Expec

Restructuring and Other - Expected and Cumulative Charges (Details) - 2021 Restructuring Plan - Operating Segments - EAAA $ in Thousands	Oct. 01, 2023 USD ($)
Restructuring Activities [Line Items]
Estimated expected charges	$ 6,050
Cumulative charges incurred to date	6,050
Workforce Reduction
Restructuring Activities [Line Items]
Estimated expected charges	2,281
Cumulative charges incurred to date	2,281
Retention Bonuses
Restructuring Activities [Line Items]
Estimated expected charges	474
Cumulative charges incurred to date	474
Asset Impairment and Other Related Charges
Restructuring Activities [Line Items]
Estimated expected charges	3,295
Cumulative charges incurred to date	$ 3,295

Restructuring and Other - Summa

Restructuring and Other - Summary of Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Restructuring Reserve [Roll Forward]
Charged to expenses	$ 0	$ (105)	$ (2,502)	$ 1,592
2021 Restructuring Plan
Restructuring Reserve [Roll Forward]
Balance at beginning of period			456
Charged to expenses			178
Deductions			(460)
Charged to other accounts			(174)
Balance at end of period	0		0
2021 Restructuring Plan | Workforce Reduction
Restructuring Reserve [Roll Forward]
Balance at beginning of period			277
Charged to expenses			23
Deductions			(300)
Balance at end of period	0		0
2021 Restructuring Plan | Retention Bonuses
Restructuring Reserve [Roll Forward]
Balance at beginning of period			179
Charged to expenses			(19)
Deductions			(160)
Balance at end of period	$ 0		0
2021 Restructuring Plan | Asset Impairment and Other Related Charges
Restructuring Reserve [Roll Forward]
Charged to expenses			174
Charged to other accounts			$ (174)

Restructuring and Other - Narra

Restructuring and Other - Narrative (Details) $ in Thousands		3 Months Ended			9 Months Ended
	Sep. 08, 2021	Oct. 01, 2023 USD ($)	Jul. 02, 2023 USD ($)	Oct. 02, 2022 USD ($)	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)
Restructuring Activities [Line Items]
Gain on disposal of property, plant and equipment					$ 2,531	$ 0
Operating Segments | EAAA
Restructuring Activities [Line Items]
Thailand plant closure inventory write-down		$ 0		$ 477	0	2,530
2021 Restructuring Plan
Restructuring Activities [Line Items]
Number of employees eliminated	188
Expected annualized savings from restructuring		$ 1,700			$ 1,700
2021 Restructuring Plan | Operating Segments | EAAA
Restructuring Activities [Line Items]
Gain on disposal of property, plant and equipment			$ 2,700
2021 Restructuring Plan | Operating Segments | EAAA | Cost of Sales
Restructuring Activities [Line Items]
Thailand plant closure inventory write-down						$ 2,500

Assets Disposed - Narrative (De

Assets Disposed - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 02, 2023	Oct. 01, 2023	Oct. 02, 2022
Assets Disposed [Line Items]
Proceeds from sale of property, plant and equipment		$ 6,593	$ 0
Gain on disposal of property, plant and equipment		$ 2,531	$ 0
2021 Restructuring Plan | Operating Segments | EAAA
Assets Disposed [Line Items]
Proceeds from sale of property, plant and equipment	$ 6,600
Gain on disposal of property, plant and equipment	$ 2,700

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 02, 2023	Apr. 02, 2023
Commitments and Contingencies Disclosure [Abstract]
Putative class action lawsuit settlment	$ 7.5
Putative class action lawsuit insurance recovery		$ 7.5
Putative class action lawsuit loss contingency		$ 7.5