Interface (TILE) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		58,242,833
Entity Central Index Key	0000715787
Amendment Flag	false
Current Fiscal Year End Date	--12-29
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 89,774	$ 110,498
Accounts receivable, net	147,185	163,386
Inventories, net	296,249	279,079
Prepaid expenses and other current assets	32,853	30,895
Total current assets	566,061	583,858
Property, plant and equipment, net	280,333	291,140
Operating lease right-of-use assets	83,766	87,519
Deferred tax asset	21,428	21,721
Goodwill and intangible assets, net	156,951	161,703
Other assets	84,953	84,154
Total assets	1,193,492	1,230,095
Current liabilities
Accounts payable	74,503	62,912
Accrued expenses	112,126	130,890
Current portion of operating lease liabilities	12,574	12,347
Current portion of long-term debt	8,523	8,572
Total current liabilities	207,726	214,721
Long-term debt	383,261	408,641
Operating lease liabilities	74,286	78,269
Deferred income taxes	32,098	33,832
Other long-term liabilities	67,573	68,685
Total liabilities	764,944	804,148
Commitments and contingencies (Note 14)
Shareholders’ equity
Preferred stock, par value $1.00 per share; 5,000 shares authorized; none issued or outstanding at March 31, 2024 and December 31, 2023	0	0
Common stock, par value $0.10 per share; 120,000 shares authorized; 58,273 and 58,112 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	5,827	5,811
Additional paid-in capital	252,538	252,909
Retained earnings	334,423	320,833
Accumulated other comprehensive loss – foreign currency translation	(130,682)	(119,590)
Accumulated other comprehensive loss – pension liability	(33,558)	(34,016)
Total shareholders’ equity	428,548	425,947
Total liabilities and shareholders’ equity	$ 1,193,492	$ 1,230,095

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Statement [Abstract]
Net sales	$ 289,743	$ 295,792
Cost of sales	179,338	199,919
Gross profit	110,405	95,873
Selling, general and administrative expenses	85,959	86,254
Restructuring, asset impairment and other charges	0	142
Operating income	24,446	9,477
Interest expense	6,423	8,505
Other (income) expense, net	(976)	1,500
Income (loss) before income tax expense	18,999	(528)
Income tax expense	4,820	186
Net income (loss)	$ 14,179	$ (714)
Earnings (loss) per share – basic (in dollars per share)	$ 0.24	$ (0.01)
Earnings (loss) per share – diluted (in dollars per share)	$ 0.24	$ (0.01)
Common shares outstanding – basic (in shares)	58,238	58,079
Common shares outstanding – diluted (in shares)	58,714	58,079

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 14,179	$ (714)
Other comprehensive (loss) income, after tax:
Foreign currency translation adjustment	(11,092)	4,930
Reclassification from accumulated other comprehensive loss – discontinued cash flow hedge	0	299
Pension liability adjustment	458	(279)
Other comprehensive (loss) income	(10,634)	4,950
Comprehensive income	$ 3,545	$ 4,236

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
OPERATING ACTIVITIES:
Net income (loss)	$ 14,179	$ (714)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	9,616	9,991
Share-based compensation expense	3,915	3,004
Deferred income taxes and other	(4,386)	599
Amortization of acquired intangible assets	1,297	1,283
Working capital changes:
Accounts receivable	13,837	35,791
Inventories	(20,477)	(5,306)
Prepaid expenses and other current assets	(2,193)	(16,148)
Accounts payable and accrued expenses	(3,169)	1,084
Cash provided by operating activities	12,619	29,584
INVESTING ACTIVITIES:
Capital expenditures	(4,033)	(5,712)
Proceeds from sale of property, plant and equipment	1,040	0
Insurance proceeds from property casualty loss	1,000	0
Cash used in investing activities	(1,993)	(5,712)
FINANCING ACTIVITIES:
Repayments of long-term debt	(34,783)	(53,225)
Borrowing of long-term debt	10,000	34,000
Tax withholding payments for share-based compensation	(4,271)	(1,167)
Dividends paid	(6)	0
Finance lease payments	(716)	(643)
Cash used in financing activities	(29,776)	(21,035)
Net cash (used in) provided by operating, investing and financing activities	(19,150)	2,837
Effect of exchange rate changes on cash	(1,574)	872
CASH AND CASH EQUIVALENTS:
Net (decrease) increase	(20,724)	3,709
Balance, beginning of period	110,498	97,564
Balance, end of period	$ 89,774	$ 101,273

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 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)	58,273,000	58,112,000
Common stock, shares outstanding (in shares)	58,273,000	58,112,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
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 December 31, 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 December 31, 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 three-month periods ended March 31, 2024 and April 2, 2023 both include 13 weeks. Risks and Uncertainties Global economic challenges, including the impacts of the Russia-Ukraine and Israel-Hamas wars, inflation, supply chain disruptions, and the slow macro environment in China could cause economic uncertainty and volatility. 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. The Company considered these impacts and subsequent general uncertainties and volatility in the global economy on the assumptions and estimates used herein. 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 by our forensic experts was completed during fiscal year 2023. Recently Issued Accounting Pronouncements – Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “ Income Taxes (Topic 740 ): Improvements to Income Tax Disclosures. ” This ASU requires public entities on an annual basis to disclose a rate reconciliation with explicit categories, as outlined in the ASU, and requires additional disclosures for reconciling items that meet certain quantitative thresholds. Other disclosures include disaggregation of income taxes paid, pre-tax income, and income tax expense. The new guidance is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of this ASU to its income tax disclosures. In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.
Risks and Uncertainties	Risks and Uncertainties

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
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 months ended March 31, 2024 and April 2, 2023 is as follows: Three Months Ended March 31, 2024 April 2, 2023 Revenue from the sale of flooring material 99 % 98 % Revenue from installation of flooring material 1 % 2 % Disaggregation of Revenue For the three months ended March 31, 2024 and April 2, 2023, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Geography March 31, 2024 April 2, 2023 Americas 58.6 % 57.2 % Europe 31.6 % 32.0 % Asia-Pacific 9.8 % 10.8 % 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 10 entitled “Segment Information” for additional information.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are summarized as follows: March 31, 2024 December 31, 2023 (in thousands) Finished goods $ 218,706 $ 201,821 Work-in-process 23,107 20,892 Raw materials 54,436 56,366 Inventories, net $ 296,249 $ 279,079

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The Company computes basic earnings (loss) per share (“EPS”) by dividing net income (loss) by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings (loss). 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 March 31, 2024 April 2, 2023 (in thousands, except per share data) Numerator: Net income (loss) $ 14,179 $ (714) Less: distributed and undistributed earnings available to participating securities (150) (9) Distributed and undistributed earnings (loss) available to common shareholders $ 14,029 $ (723) Denominator: Weighted average shares outstanding 57,623 57,177 Participating securities 615 902 Shares for basic EPS 58,238 58,079 Dilutive effect of non-participating securities 476 — Shares for diluted EPS 58,714 58,079 Basic EPS $ 0.24 $ (0.01) Diluted EPS $ 0.24 $ (0.01) For the three months ended March 31, 2024 and April 2, 2023, 1,049,405 and 1,728,579 non-participating securities that could potentially dilute basic EPS in the future, respectively, 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	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt consisted of the following: March 31, 2024 December 31, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility (2) : Term loan borrowings $ 95,988 6.26 % $ 121,658 6.61 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 395,988 421,658 Less: Unamortized debt issuance costs (4,204) (4,445) Total debt, net 391,784 417,213 Less: Current portion of long-term debt (8,523) (8,572) Total long-term debt, net $ 383,261 $ 408,641 (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. (2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $300.0 million. There were no revolving loan borrowings outstanding as of March 31, 2024 or December 31, 2023. 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 is 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. Fees for commercial letters of credit are computed as a percentage of the amount available to be drawn under such letters of credit. Fees for standby letters of credit are charged at varying rates computed by applying a margin of the amount available to be drawn under such standby letters of credit, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. As of both March 31, 2024 and December 31, 2023, the Company had $1.6 million in letters of credit outstanding under the Facility. As of both March 31, 2024 and December 31, 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 March 31, 2024, the estimated fair value of the Senior Notes was $287.0 million, compared with a net carrying value recorded in the Company’s consolidated condensed balance sheet of $296.7 million ($300.0 million gross, excluding the impact of $3.3 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 March 31, 2024 and December 31, 2023, the unamortized debt issuance costs recorded as a reduction of long-term debt were $4.2 million and $4.4 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 $1.3 million and $1.4 million as of March 31, 2024 and December 31, 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.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Shareholders' Equity	SHAREHOLDERS’ EQUITY The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended March 31, 2024 and April 2, 2023: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT TOTAL (in thousands, except per share data) Balance, at December 31, 2023 58,112 $ 5,811 $ 252,909 $ 320,833 $ (34,016) $ (119,590) $ 425,947 Net income — — — 14,179 — — 14,179 Issuances of stock related to restricted share units and performance shares 472 47 (47) — — — — Cash dividends declared, $0.01 per common share — — — (589) — — (589) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (311) (31) (324) — — — (355) Pension liability adjustment — — — — 458 — 458 Foreign currency translation adjustment — — — — — (11,092) (11,092) Balance, at March 31, 2024 58,273 $ 5,827 $ 252,538 $ 334,423 $ (33,558) $ (130,682) $ 428,548 SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW TOTAL (in thousands, except per share data) Balance, at January 1, 2023 58,106 $ 5,811 $ 244,159 $ 278,639 $ (27,548) $ (138,775) $ (749) $ 361,537 Net loss — — — (714) — — — (714) Issuances of stock related to performance shares 79 8 (8) — — — — — Cash dividends declared, $0.01 per common share — — — (580) — — — (580) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (132) (14) 1,850 — — — — 1,836 Pension liability adjustment — — — — (279) — — (279) Foreign currency translation adjustment — — — — — 4,930 — 4,930 Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 299 299 Balance, at April 2, 2023 58,053 $ 5,805 $ 246,001 $ 277,345 $ (27,827) $ (133,845) $ (450) $ 367,029 The Company has share-based employee compensation plans, which are described more fully in Note 14 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 31, 2023 . Restricted Stock Awards Compensation expense related to restricted stock grants was $0.9 million and $1.4 million for the three months ended March 31, 2024 and April 2, 2023, respectively. The Company has reduced its expense for any restricted stock forfeited during the period. The following table summarizes restricted stock outstanding as of March 31, 2024, as well as activity during the three months then ended: Restricted Shares Weighted Average Outstanding at December 31, 2023 691,600 $ 12.55 Granted — — Vested (324,300) 13.94 Forfeited or canceled (1,200) 13.19 Outstanding at March 31, 2024 366,100 $ 11.32 As of March 31, 2024, the unrecognized total compensation cost related to unvested restricted stock was $0.9 million. That cost is expected to be recognized by the first quarter of 2025. Restricted Share Unit Awards Compensation expense related to the restricted share units was $0.9 million and $0.5 million for the three months ended March 31, 2024 and April 2, 2023, respectively. The Company has reduced its expense for any restricted share units forfeited during the period. The following table summarizes restricted share units outstanding as of March 31, 2024, as well as activity during the three months then ended: Restricted Share Units Weighted Average Outstanding at December 31, 2023 583,400 $ 10.35 Granted 402,800 13.24 Vested (151,600) 10.80 Forfeited or canceled (4,000) 10.80 Outstanding at March 31, 2024 830,600 $ 11.67 As of March 31, 2024, the unrecognized total compensation cost related to unvested restricted share units was $8.5 million. That cost is expected to be recognized by the first quarter of 2027. Performance Share Awards The following table summarizes the performance shares outstanding as of March 31, 2024, as well as the activity during the three months then ended: Performance Shares Weighted Average Outstanding at December 31, 2023 1,115,000 $ 12.36 Granted 402,800 13.24 Vested (320,700) 13.91 Forfeited or canceled (12,800) 12.82 Outstanding at March 31, 2024 1,184,300 $ 12.24 Compensation expense related to the performance shares was $2.1 million and $1.1 million for the three months ended March 31, 2024 and April 2, 2023, 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 $9.0 million as of March 31, 2024. The amount and timing of future compensation expense will depend on the performance of the Company. The compensation expense related to these outstanding performance shares is expected to be recognized by the first quarter of 2027. The tax benefit recognized with respect to restricted stock, restricted share units and performance shares was approximately $0.5 million for the three months ended March 31, 2024.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	LEASES The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 83,766 $ 87,519 Current portion of operating lease liabilities $ 12,574 $ 12,347 Operating lease liabilities 74,286 78,269 Total operating lease liabilities $ 86,860 $ 90,616 Property, plant and equipment, net $ 6,799 $ 7,236 Accrued expenses $ 2,482 $ 2,587 Other long-term liabilities 4,701 5,035 Total finance lease liabilities $ 7,183 $ 7,622 As of March 31, 2024, there were no significant leases that had not commenced. Lease Costs Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 776 $ 655 Interest on lease liabilities 99 60 Operating lease cost 4,989 4,703 Short-term lease cost 197 356 Variable lease cost 690 733 Total lease cost $ 6,751 $ 6,507 Other Supplemental Information Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 96 $ 52 Operating cash flows from operating leases 4,097 4,201 Financing cash flows from finance leases 716 643 Right-of-use assets obtained in exchange for new finance lease liabilities 390 557 Right-of-use assets obtained in exchange for new operating lease liabilities 265 1,121 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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.60 3.70 Weighted-average remaining lease term – operating leases (in years) 8.10 8.29 Weighted-average discount rate – finance leases 5.70 % 5.51 % Weighted-average discount rate – operating leases 6.27 % 6.25 % Maturity Analysis A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2024 (excluding the three months ended March 31, 2024) $ 12,770 $ 2,170 2025 16,197 2,202 2026 16,047 1,651 2027 13,256 1,133 2028 10,804 582 Thereafter 42,883 264 Total future minimum lease payments (undiscounted) 111,957 8,002 Less: Present value discount (25,097) (819) Total lease liabilities $ 86,860 $ 7,183
Leases	LEASES The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 83,766 $ 87,519 Current portion of operating lease liabilities $ 12,574 $ 12,347 Operating lease liabilities 74,286 78,269 Total operating lease liabilities $ 86,860 $ 90,616 Property, plant and equipment, net $ 6,799 $ 7,236 Accrued expenses $ 2,482 $ 2,587 Other long-term liabilities 4,701 5,035 Total finance lease liabilities $ 7,183 $ 7,622 As of March 31, 2024, there were no significant leases that had not commenced. Lease Costs Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 776 $ 655 Interest on lease liabilities 99 60 Operating lease cost 4,989 4,703 Short-term lease cost 197 356 Variable lease cost 690 733 Total lease cost $ 6,751 $ 6,507 Other Supplemental Information Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 96 $ 52 Operating cash flows from operating leases 4,097 4,201 Financing cash flows from finance leases 716 643 Right-of-use assets obtained in exchange for new finance lease liabilities 390 557 Right-of-use assets obtained in exchange for new operating lease liabilities 265 1,121 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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.60 3.70 Weighted-average remaining lease term – operating leases (in years) 8.10 8.29 Weighted-average discount rate – finance leases 5.70 % 5.51 % Weighted-average discount rate – operating leases 6.27 % 6.25 % Maturity Analysis A maturity analysis of lease payments under non-cancellable leases is presented as follows: Fiscal Year Operating Leases Finance Leases (in thousands) 2024 (excluding the three months ended March 31, 2024) $ 12,770 $ 2,170 2025 16,197 2,202 2026 16,047 1,651 2027 13,256 1,133 2028 10,804 582 Thereafter 42,883 264 Total future minimum lease payments (undiscounted) 111,957 8,002 Less: Present value discount (25,097) (819) Total lease liabilities $ 86,860 $ 7,183

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS During the three-month periods ended March 31, 2024 and April 2, 2023, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $0.6 million, respectively. The following tables provide the components of net periodic benefit cost for the three months ended March 31, 2024 and April 2, 2023: Three Months Ended Defined Benefit Retirement Plans (Europe) March 31, 2024 April 2, 2023 (in thousands) Interest cost $ 1,710 $ 1,735 Expected return on plan assets (1,966) (1,964) Amortization of prior service cost 45 29 Amortization of net actuarial losses 269 223 Net periodic benefit cost $ 58 $ 23 Three Months Ended Salary Continuation Plan March 31, 2024 April 2, 2023 (in thousands) Interest cost $ 266 $ 283 Amortization of net actuarial losses 60 49 Net periodic benefit cost $ 326 $ 332 Three Months Ended nora Defined Benefit Plan March 31, 2024 April 2, 2023 (in thousands) Service cost $ 126 $ 114 Interest cost 264 272 Amortization of net actuarial gains — (109) Net periodic benefit cost $ 390 $ 277 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 (income) expense, net, in the consolidated condensed statements of operations.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The ending balance and the change in the carrying amount of good will fo r the three months ended March 31, 2024 is as follows: Goodwill (1) (in thousands) Balance, at December 31, 2023 $ 105,448 Foreign currency translation (2) (2,251) Balance, at March 31, 2024 $ 103,197 (1) The goodwill balance is allocated entirely to the AMS reportable segment. (2) A portion of the goodwill balance is comprised of goodwill denominated in foreign currency attributable to the nora acquisition.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
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 (“SG&A”) expenses and allocations of global support SG&A as discussed below. AOI excludes: nora purchase accounting amortization; Cyber Event impact; property casualty loss; and restructuring, asset impairment, severance, and other, net. Intersegment revenues for the three months ended March 31, 2024 and April 2, 2023 were $16.8 million and $22.6 million, respectively. Intersegment revenues are eliminated from net sales presented below since these amounts are not included in the information provided to the CODM. The Company has determined that it has two reportable segments – AMS and EAAA, as each operating segment meets the quantitative thresholds defined in the accounting guidance. During the first quarter of 2024, the Company implemented a cost center realignment initiative to centralize certain global/shared functions. For the quarter ended March 31, 2024, SG&A expenses for these global support functions were allocated to AOI for each reportable segment consistent with the allocation methodology used to allocate corporate overhead in prior periods. Prior year AOI amounts below were not recast as there was no material impact to the measure of segment profit for each reportable segment. There were no changes to the composition of the Company’s operating or reportable segments. Segment information for the three months ended March 31, 2024 and April 2, 2023 is presented in the following table: Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Net sales AMS $ 169,915 $ 169,241 EAAA 119,828 126,551 Total net sales $ 289,743 $ 295,792 Segment AOI AMS $ 18,080 $ 11,269 EAAA 7,445 3,929 Depreciation and amortization AMS $ 4,353 $ 4,393 EAAA 5,263 5,598 Total depreciation and amortization $ 9,616 $ 9,991 A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: March 31, 2024 December 31, 2023 (in thousands) Assets AMS $ 546,971 $ 627,782 EAAA 603,853 630,939 Total segment assets 1,150,824 1,258,721 Corporate assets 110,168 108,673 Eliminations (67,500) (137,299) Total reported assets $ 1,193,492 $ 1,230,095 Reconciliations of operating income to income (loss) before income tax expense and segment AOI are presented as follows: Three Months Ended March 31, 2024 April 2, 2023 (in thousands) AMS operating income $ 18,195 $ 8,715 EAAA operating income 6,251 762 Consolidated operating income 24,446 9,477 Interest expense 6,423 8,505 Other (income) expense, net (976) 1,500 Income (loss) before income tax expense $ 18,999 $ (528) Three Months Ended March 31, 2024 Three Months Ended April 2, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 18,195 $ 6,251 $ 8,715 $ 762 Purchase accounting amortization — 1,297 — 1,283 Cyber Event impact (246) (170) 228 200 Property casualty loss — — 1,300 — Restructuring, asset impairment, severance, and other, net 131 67 1,026 1,684 AOI $ 18,080 $ 7,445 $ 11,269 $ 3,929

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the three months ended March 31, 2024 and April 2, 2023 is presented in the following table: Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Cash paid for interest $ 2,099 $ 3,667 Cash paid for income taxes, net of refunds 7,161 5,148 See Note 7 entitled “Leases” for additional supplemental disclosures related to finance and operating leases. Non-Cash Financing Activities

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
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 three months ended March 31, 2024, the Company recorded a total income tax provision of $4.8 million on pre-tax income of $19.0 million resulting in an effective tax rate of 25.4%, as compared to a total income tax provision of $0.2 million on pre-tax loss of $0.5 million resulting in a negative effective tax rate of 35.2% during the three months ended April 2, 2023. The year-over-year change in the effective tax rate is primarily due to the tax effects of pre-tax income in the current year quarter compared to pre-tax loss in the prior year quarter and favorable changes related to share-based compensation and the limitation on the deduction for business interest expenses under Internal Revenue Code section 163(j). The pre-tax loss for the three months ended April 2, 2023, included significant unusual or infrequent items that are specifically excluded from the AETR. The tax effects related to these specifically excluded items are recognized discretely. The income tax benefits recognized discretely were at a lower effective tax rate compared to the estimated AETR resulting in an overall negative effective tax rate for the three months ended April 2, 2023. On December 20, 2021, the Organization for Economic Co-operation and Development (“OECD”) published Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD has since issued administrative guidance providing transition and safe harbor rules around the implementation of the Pillar Two global minimum tax. Many non-U.S. tax jurisdictions have either recently enacted legislation to adopt certain components of the Pillar Two Model Rules beginning in 2024 (including the European Union Member States) with the adoption of additional components in later years or announced their plans to enact legislation in future years. For fiscal year 2024, we expect to meet the Transitional Country-by-Country (CbCR) Safe Harbor rules for most if not all jurisdictions and do not expect these provisions to have a material impact on the Company’s financial statements. We will continue to closely monitor ongoing developments and evaluate any potential impact on future periods. In the first three months of 2024, the Company increased its liability for unrecognized tax benefits by $0.3 million. As of March 31, 2024, the Company had accrued approximately $5.2 million for unrecognized tax benefits. In accordance with applicable accounting standards, the Company’s deferred tax asset as of March 31, 2024 reflects a reduction for $2.8 million of these unrecognized tax benefits.

Items Reclassified from Accumul

Items Reclassified from Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2024
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 months ended March 31, 2024 and April 2, 2023 are reflected in the table below: Three Months Ended Statement of Operations Location March 31, 2024 April 2, 2023 (in thousands) Interest rate swap contracts loss Interest expense $ — $ (393) Amortization of benefit plan net actuarial losses and prior service cost Other (income) expense, net (374) (192) Total loss reclassified from AOCI $ (374) $ (585)

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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 heading “Lawsuit by Former CEO in Connection with Termination” 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 December 31, 2023

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 14,179	$ (714)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended March 31, 2024, one of our directors, Daniel T. Hendrix, adopted a Rule 10b5-1 trading arrangement for the potential sale of our common stock in amounts and prices determined in accordance with such plan, as outlined in the table below: Name and Title Action Date Adopted Expiration Date Aggregate Number of Securities to be Purchased / Sold Daniel T. Hendrix, Director Adoption of Rule 10b5-1 Plan (1) March 6, 2024 February 5, 2025 100,000 (1) Intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934. Transactions in our securities by directors or officers of Interface or its subsidiaries are required to be made in accordance with our Insider Trading Policy, which incorporates applicable U.S. federal securities laws that prohibit trading Interface common stock and other Company securities while aware of material non-public information about Interface.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Daniel T. Hendrix [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 6, 2024
Arrangement Duration	336 days
Aggregate Available	100,000
Daniel T. Hendrix [Member]
Trading Arrangements, by Individual
Name	Daniel T. Hendrix
Title	Director

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
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 December 31, 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 December 31, 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 three-month periods ended March 31, 2024 and April 2, 2023 both include 13 weeks.
Recent Accounting Pronouncements	Recently Issued Accounting Pronouncements – Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “ Income Taxes (Topic 740 ): Improvements to Income Tax Disclosures. ” This ASU requires public entities on an annual basis to disclose a rate reconciliation with explicit categories, as outlined in the ASU, and requires additional disclosures for reconciling items that meet certain quantitative thresholds. Other disclosures include disaggregation of income taxes paid, pre-tax income, and income tax expense. The new guidance is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of this ASU to its income tax disclosures. In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
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 months ended March 31, 2024 and April 2, 2023 is as follows: Three Months Ended March 31, 2024 April 2, 2023 Revenue from the sale of flooring material 99 % 98 % Revenue from installation of flooring material 1 % 2 %
Disaggregation of Revenue	For the three months ended March 31, 2024 and April 2, 2023, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Geography March 31, 2024 April 2, 2023 Americas 58.6 % 57.2 % Europe 31.6 % 32.0 % Asia-Pacific 9.8 % 10.8 %

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: March 31, 2024 December 31, 2023 (in thousands) Finished goods $ 218,706 $ 201,821 Work-in-process 23,107 20,892 Raw materials 54,436 56,366 Inventories, net $ 296,249 $ 279,079

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 April 2, 2023 (in thousands, except per share data) Numerator: Net income (loss) $ 14,179 $ (714) Less: distributed and undistributed earnings available to participating securities (150) (9) Distributed and undistributed earnings (loss) available to common shareholders $ 14,029 $ (723) Denominator: Weighted average shares outstanding 57,623 57,177 Participating securities 615 902 Shares for basic EPS 58,238 58,079 Dilutive effect of non-participating securities 476 — Shares for diluted EPS 58,714 58,079 Basic EPS $ 0.24 $ (0.01) Diluted EPS $ 0.24 $ (0.01)

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Long-term debt consisted of the following: March 31, 2024 December 31, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility (2) : Term loan borrowings $ 95,988 6.26 % $ 121,658 6.61 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 395,988 421,658 Less: Unamortized debt issuance costs (4,204) (4,445) Total debt, net 391,784 417,213 Less: Current portion of long-term debt (8,523) (8,572) Total long-term debt, net $ 383,261 $ 408,641 (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. (2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $300.0 million. There were no revolving loan borrowings outstanding as of March 31, 2024 or December 31, 2023.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Shareholders' Equity	The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended March 31, 2024 and April 2, 2023: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT TOTAL (in thousands, except per share data) Balance, at December 31, 2023 58,112 $ 5,811 $ 252,909 $ 320,833 $ (34,016) $ (119,590) $ 425,947 Net income — — — 14,179 — — 14,179 Issuances of stock related to restricted share units and performance shares 472 47 (47) — — — — Cash dividends declared, $0.01 per common share — — — (589) — — (589) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (311) (31) (324) — — — (355) Pension liability adjustment — — — — 458 — 458 Foreign currency translation adjustment — — — — — (11,092) (11,092) Balance, at March 31, 2024 58,273 $ 5,827 $ 252,538 $ 334,423 $ (33,558) $ (130,682) $ 428,548 SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW TOTAL (in thousands, except per share data) Balance, at January 1, 2023 58,106 $ 5,811 $ 244,159 $ 278,639 $ (27,548) $ (138,775) $ (749) $ 361,537 Net loss — — — (714) — — — (714) Issuances of stock related to performance shares 79 8 (8) — — — — — Cash dividends declared, $0.01 per common share — — — (580) — — — (580) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (132) (14) 1,850 — — — — 1,836 Pension liability adjustment — — — — (279) — — (279) Foreign currency translation adjustment — — — — — 4,930 — 4,930 Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 299 299 Balance, at April 2, 2023 58,053 $ 5,805 $ 246,001 $ 277,345 $ (27,827) $ (133,845) $ (450) $ 367,029
Schedule of Restricted Stock Outstanding and Activity	The following table summarizes restricted stock outstanding as of March 31, 2024, as well as activity during the three months then ended: Restricted Shares Weighted Average Outstanding at December 31, 2023 691,600 $ 12.55 Granted — — Vested (324,300) 13.94 Forfeited or canceled (1,200) 13.19 Outstanding at March 31, 2024 366,100 $ 11.32
Schedule of Restricted Share Units Outstanding and Activity	The following table summarizes restricted share units outstanding as of March 31, 2024, as well as activity during the three months then ended: Restricted Share Units Weighted Average Outstanding at December 31, 2023 583,400 $ 10.35 Granted 402,800 13.24 Vested (151,600) 10.80 Forfeited or canceled (4,000) 10.80 Outstanding at March 31, 2024 830,600 $ 11.67
Schedule of Performance Shares Outstanding and Activity	The following table summarizes the performance shares outstanding as of March 31, 2024, as well as the activity during the three months then ended: Performance Shares Weighted Average Outstanding at December 31, 2023 1,115,000 $ 12.36 Granted 402,800 13.24 Vested (320,700) 13.91 Forfeited or canceled (12,800) 12.82 Outstanding at March 31, 2024 1,184,300 $ 12.24

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 83,766 $ 87,519 Current portion of operating lease liabilities $ 12,574 $ 12,347 Operating lease liabilities 74,286 78,269 Total operating lease liabilities $ 86,860 $ 90,616 Property, plant and equipment, net $ 6,799 $ 7,236 Accrued expenses $ 2,482 $ 2,587 Other long-term liabilities 4,701 5,035 Total finance lease liabilities $ 7,183 $ 7,622
Schedule of Lease Costs	Lease Costs Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 776 $ 655 Interest on lease liabilities 99 60 Operating lease cost 4,989 4,703 Short-term lease cost 197 356 Variable lease cost 690 733 Total lease cost $ 6,751 $ 6,507
Other Supplemental Information, Lessee	Other Supplemental Information Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 96 $ 52 Operating cash flows from operating leases 4,097 4,201 Financing cash flows from finance leases 716 643 Right-of-use assets obtained in exchange for new finance lease liabilities 390 557 Right-of-use assets obtained in exchange for new operating lease liabilities 265 1,121
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 March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.60 3.70 Weighted-average remaining lease term – operating leases (in years) 8.10 8.29 Weighted-average discount rate – finance leases 5.70 % 5.51 % Weighted-average discount rate – operating leases 6.27 % 6.25 %
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) 2024 (excluding the three months ended March 31, 2024) $ 12,770 $ 2,170 2025 16,197 2,202 2026 16,047 1,651 2027 13,256 1,133 2028 10,804 582 Thereafter 42,883 264 Total future minimum lease payments (undiscounted) 111,957 8,002 Less: Present value discount (25,097) (819) Total lease liabilities $ 86,860 $ 7,183
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) 2024 (excluding the three months ended March 31, 2024) $ 12,770 $ 2,170 2025 16,197 2,202 2026 16,047 1,651 2027 13,256 1,133 2028 10,804 582 Thereafter 42,883 264 Total future minimum lease payments (undiscounted) 111,957 8,002 Less: Present value discount (25,097) (819) Total lease liabilities $ 86,860 $ 7,183

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The following tables provide the components of net periodic benefit cost for the three months ended March 31, 2024 and April 2, 2023: Three Months Ended Defined Benefit Retirement Plans (Europe) March 31, 2024 April 2, 2023 (in thousands) Interest cost $ 1,710 $ 1,735 Expected return on plan assets (1,966) (1,964) Amortization of prior service cost 45 29 Amortization of net actuarial losses 269 223 Net periodic benefit cost $ 58 $ 23 Three Months Ended Salary Continuation Plan March 31, 2024 April 2, 2023 (in thousands) Interest cost $ 266 $ 283 Amortization of net actuarial losses 60 49 Net periodic benefit cost $ 326 $ 332 Three Months Ended nora Defined Benefit Plan March 31, 2024 April 2, 2023 (in thousands) Service cost $ 126 $ 114 Interest cost 264 272 Amortization of net actuarial gains — (109) Net periodic benefit cost $ 390 $ 277

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The ending balance and the change in the carrying amount of good will fo r the three months ended March 31, 2024 is as follows: Goodwill (1) (in thousands) Balance, at December 31, 2023 $ 105,448 Foreign currency translation (2) (2,251) Balance, at March 31, 2024 $ 103,197 (1) The goodwill balance is allocated entirely to the AMS reportable segment. (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)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Operating Segment Information	Segment information for the three months ended March 31, 2024 and April 2, 2023 is presented in the following table: Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Net sales AMS $ 169,915 $ 169,241 EAAA 119,828 126,551 Total net sales $ 289,743 $ 295,792 Segment AOI AMS $ 18,080 $ 11,269 EAAA 7,445 3,929 Depreciation and amortization AMS $ 4,353 $ 4,393 EAAA 5,263 5,598 Total depreciation and amortization $ 9,616 $ 9,991
Reconciliation of Assets from Segment to Consolidated	A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: March 31, 2024 December 31, 2023 (in thousands) Assets AMS $ 546,971 $ 627,782 EAAA 603,853 630,939 Total segment assets 1,150,824 1,258,721 Corporate assets 110,168 108,673 Eliminations (67,500) (137,299) Total reported assets $ 1,193,492 $ 1,230,095
Reconciliation of Operating Income to Income (Loss) Before Income Tax Expense and Segment AOI	Reconciliations of operating income to income (loss) before income tax expense and segment AOI are presented as follows: Three Months Ended March 31, 2024 April 2, 2023 (in thousands) AMS operating income $ 18,195 $ 8,715 EAAA operating income 6,251 762 Consolidated operating income 24,446 9,477 Interest expense 6,423 8,505 Other (income) expense, net (976) 1,500 Income (loss) before income tax expense $ 18,999 $ (528) Three Months Ended March 31, 2024 Three Months Ended April 2, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 18,195 $ 6,251 $ 8,715 $ 762 Purchase accounting amortization — 1,297 — 1,283 Cyber Event impact (246) (170) 228 200 Property casualty loss — — 1,300 — Restructuring, asset impairment, severance, and other, net 131 67 1,026 1,684 AOI $ 18,080 $ 7,445 $ 11,269 $ 3,929

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information for the three months ended March 31, 2024 and April 2, 2023 is presented in the following table: Three Months Ended March 31, 2024 April 2, 2023 (in thousands) Cash paid for interest $ 2,099 $ 3,667 Cash paid for income taxes, net of refunds 7,161 5,148

Items Reclassified from Accum_2

Items Reclassified from Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2024
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 months ended March 31, 2024 and April 2, 2023 are reflected in the table below: Three Months Ended Statement of Operations Location March 31, 2024 April 2, 2023 (in thousands) Interest rate swap contracts loss Interest expense $ — $ (393) Amortization of benefit plan net actuarial losses and prior service cost Other (income) expense, net (374) (192) Total loss reclassified from AOCI $ (374) $ (585)

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Products and Services (Details)	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Revenue from the Sale of Flooring Material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	99%	98%
Revenue from Installation of Flooring Material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	1%	2%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details)	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Americas
Disaggregation of Revenue [Line Items]
Percentage of net sales	58.60%	57.20%
Europe
Disaggregation of Revenue [Line Items]
Percentage of net sales	31.60%	32%
Asia-Pacific
Disaggregation of Revenue [Line Items]
Percentage of net sales	9.80%	10.80%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 218,706	$ 201,821
Work-in-process	23,107	20,892
Raw materials	54,436	56,366
Inventories, net	$ 296,249	$ 279,079

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Numerator:
Net income (loss)	$ 14,179	$ (714)
Distributed and undistributed earnings available to participating securities, basic	(150)	(9)
Distributed and undistributed earnings available to participating securities, diluted	(150)	(9)
Distributed and undistributed earnings (loss) available to common shareholders, basic	14,029	(723)
Distributed and undistributed earnings (loss) available to common shareholders, diluted	$ 14,029	$ (723)
Denominator:
Weighted average shares outstanding (in shares)	57,623	57,177
Participating securities (in shares)	615	902
Shares for basic earnings (loss) per share (in shares)	58,238	58,079
Dilutive effect of non-participating securities (in shares)	476	0
Shares for diluted earnings (loss) per share (in shares)	58,714	58,079
Earnings (loss) per share – basic (in dollars per share)	$ 0.24	$ (0.01)
Earnings (loss) per share – diluted (in dollars per share)	$ 0.24	$ (0.01)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of EPS (in shares)	1,049,405	1,728,579

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 395,988	$ 421,658
Less: Unamortized debt issuance costs	(4,204)	(4,445)
Total debt, net	391,784	417,213
Less: Current portion of long-term debt	(8,523)	(8,572)
Long-term debt, net	383,261	408,641
Syndicated Facility Agreement
Debt Instrument [Line Items]
Revolving loan facility, maximum borrowing capacity	300,000
Syndicated Facility Agreement | Revolving Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 95,988	$ 121,658
Weighted average interest rate on borrowings outstanding (percentage)	6.26%	6.61%
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000
Less: Unamortized debt issuance costs	(3,300)
Long-term debt, net	$ 296,700
Stated interest rate (percentage)	5.50%	5.50%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, net	$ 383,261	$ 408,641
Long-term debt, gross	395,988	421,658
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	4,204	4,445
Term Loan and Senior Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	4,200	4,400
Syndicated Facility Agreement
Debt Instrument [Line Items]
Letters of credit outstanding	1,600	1,600
Unamortized debt issuance costs, revolving loan facility, net	1,300	1,400
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 95,988	$ 121,658
Senior Notes
Debt Instrument [Line Items]
Stated interest rate (percentage)	5.50%	5.50%
Long-term debt, net	$ 296,700
Long-term debt, gross	300,000	$ 300,000
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	3,300
Level 2 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value	$ 287,000

Shareholders' Equity - Activity

Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	$ 425,947	$ 361,537
Net income (loss)	14,179	(714)
Issuances of stock related to restricted share units and performance shares	0	0
Cash dividends declared	(589)	(580)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(355)	1,836
Pension liability adjustment	458	(279)
Foreign currency translation adjustment	(11,092)	4,930
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	0	299
Balance at end of period	$ 428,548	$ 367,029
Cash dividends declared, per common share (in dollars per share)	$ 0.01	$ 0.01
COMMON STOCK
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	58,112	58,106
Balance at beginning of period	$ 5,811	$ 5,811
Issuances of stock related to restricted share units and performance shares (in shares)	472	79
Issuances of stock related to restricted share units and performance shares	$ 47	$ 8
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (in shares)	(311)	(132)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	$ (31)	$ (14)
Balance at end of period (in shares)	58,273	58,053
Balance at end of period	$ 5,827	$ 5,805
ADDITIONAL PAID-IN CAPITAL
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	252,909	244,159
Issuances of stock related to restricted share units and performance shares	(47)	(8)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	(324)	1,850
Balance at end of period	252,538	246,001
RETAINED EARNINGS
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	320,833	278,639
Net income (loss)	14,179	(714)
Cash dividends declared	(589)	(580)
Balance at end of period	334,423	277,345
PENSION LIABILITY
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(34,016)	(27,548)
Pension liability adjustment	458	(279)
Balance at end of period	(33,558)	(27,827)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(119,590)	(138,775)
Foreign currency translation adjustment	(11,092)	4,930
Balance at end of period	$ (130,682)	(133,845)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period		(749)
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge		299
Balance at end of period		$ (450)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3,915	$ 3,004
Share-based compensation expense, tax benefit	500
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	900	1,400
Unrecognized compensation expense related to unvested share-based awards	900
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	900	500
Unrecognized compensation expense related to unvested share-based awards	8,500
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,100	$ 1,100
Unrecognized compensation expense related to unvested share-based awards	$ 9,000

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	691,600
Granted (in shares) | shares	0
Vested (in shares) | shares	(324,300)
Forfeited or canceled (in shares) | shares	(1,200)
Outstanding at end of period (in shares) | shares	366,100
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.55
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	0
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	13.94
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares	13.19
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 11.32

Shareholders' Equity - Restri_2

Shareholders' Equity - Restricted Share Units Outstanding (Details) - Restricted Share Units	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	583,400
Granted (in shares) | shares	402,800
Vested (in shares) | shares	(151,600)
Forfeited or canceled (in shares) | shares	(4,000)
Outstanding at end of period (in shares) | shares	830,600
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 10.35
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	13.24
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	$ 11.67

Shareholders' Equity - Performa

Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	1,115,000
Granted (in shares) | shares	402,800
Vested (in shares) | shares	(320,700)
Forfeited or canceled (in shares) | shares	(12,800)
Outstanding at end of period (in shares) | shares	1,184,300
Weighted Average Grant Date Fair Value
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.36
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	13.24
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	13.91
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares	12.82
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.24

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 83,766	$ 87,519
Current portion of operating lease liabilities	12,574	12,347
Operating lease liabilities	74,286	78,269
Total operating lease liabilities	86,860	90,616
Finance lease right-of-use assets, net	$ 6,799	$ 7,236
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	$ 2,482	$ 2,587
Finance lease liability, current, consolidated condensed balance sheet location	Accrued expenses	Accrued expenses
Finance lease liabilities	$ 4,701	$ 5,035
Finance lease liability, noncurrent, consolidated condensed balance sheet location	Other long-term liabilities	Other long-term liabilities
Total finance lease liabilities	$ 7,183	$ 7,622

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Leases [Abstract]
Finance lease cost: Amortization of right-of-use assets	$ 776	$ 655
Finance lease cost: Interest on lease liabilities	99	60
Operating lease cost	4,989	4,703
Short-term lease cost	197	356
Variable lease cost	690	733
Total lease cost	$ 6,751	$ 6,507

Leases - Other Supplemental Inf

Leases - Other Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Leases [Abstract]
Operating cash flows from finance leases	$ 96	$ 52
Operating cash flows from operating leases	4,097	4,201
Financing cash flows from finance leases	716	643
Right-of-use assets obtained in exchange for new finance lease liabilities	390	557
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 265	$ 1,121

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term – finance leases (in years)	3 years 7 months 6 days	3 years 8 months 12 days
Weighted-average remaining lease term – operating leases (in years)	8 years 1 month 6 days	8 years 3 months 14 days
Weighted-average discount rate – finance leases (percentage)	5.70%	5.51%
Weighted-average discount rate – operating leases (percentage)	6.27%	6.25%

Leases - Maturity of Lease Paym

Leases - Maturity of Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024 (excluding the three months ended March 31, 2024)	$ 12,770
2025	16,197
2026	16,047
2027	13,256
2028	10,804
Thereafter	42,883
Total future minimum lease payments (undiscounted)	111,957
Less: Present value discount	(25,097)
Total lease liabilities	86,860	$ 90,616
Lessee, Finance Lease, Liability, Payment, Due [Abstract]
2024 (excluding the three months ended March 31, 2024)	2,170
2025	2,202
2026	1,651
2027	1,133
2028	582
Thereafter	264
Total future minimum lease payments (undiscounted)	8,002
Less: Present value discount	(819)
Total lease liabilities	$ 7,183	$ 7,622

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Retirement Benefits [Abstract]
Multiemployer plan, employer contribution	$ 0.7	$ 0.6

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Europe
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 1,710	$ 1,735
Expected return on plan assets	(1,966)	(1,964)
Amortization of prior service cost	45	29
Amortization of net actuarial losses (gains)	269	223
Net periodic benefit cost	58	23
Salary Continuation Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	266	283
Amortization of net actuarial losses (gains)	60	49
Net periodic benefit cost	326	332
nora Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Service cost	126	114
Interest cost	264	272
Amortization of net actuarial losses (gains)	0	(109)
Net periodic benefit cost	$ 390	$ 277

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - Operating Segments - AMS $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 105,448
Foreign currency translation	(2,251)
Balance at end of period	$ 103,197

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of intangible assets, excluding goodwill, net	$ 53.8	$ 56.3

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Apr. 02, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2
Intersegment revenues	$ 16.8	$ 22.6

Segment Information - Operating

Segment Information - Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Segment Reporting Information [Line Items]
Net sales	$ 289,743	$ 295,792
Depreciation and amortization	9,616	9,991
Operating Segments | AMS
Segment Reporting Information [Line Items]
Net sales	169,915	169,241
AOI	18,080	11,269
Depreciation and amortization	4,353	4,393
Operating Segments | EAAA
Segment Reporting Information [Line Items]
Net sales	119,828	126,551
AOI	7,445	3,929
Depreciation and amortization	$ 5,263	$ 5,598

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,193,492	$ 1,230,095
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,150,824	1,258,721
Operating Segments | AMS
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	546,971	627,782
Operating Segments | EAAA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	603,853	630,939
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	110,168	108,673
Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (67,500)	$ (137,299)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment AOI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	$ 24,446	$ 9,477
Interest expense	6,423	8,505
Other (income) expense, net	(976)	1,500
Income (loss) before income tax expense	18,999	(528)
Purchase accounting amortization	1,297	1,283
Operating Segments | AMS
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	18,195	8,715
Purchase accounting amortization	0	0
Cyber Event impact	(246)	228
Property casualty loss	0	1,300
Restructuring, asset impairment, severance, and other, net	131	1,026
AOI	18,080	11,269
Operating Segments | EAAA
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	6,251	762
Purchase accounting amortization	1,297	1,283
Cyber Event impact	(170)	200
Property casualty loss	0	0
Restructuring, asset impairment, severance, and other, net	67	1,684
AOI	$ 7,445	$ 3,929

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 2,099	$ 3,667
Cash paid for income taxes, net of refunds	$ 7,161	$ 5,148

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 12, 2024	Mar. 31, 2024	Apr. 02, 2023
Non-Cash Financing Activities [Line Items]
Cash dividends declared on common stock		$ 589	$ 580
Accrued Expenses
Non-Cash Financing Activities [Line Items]
Cash dividends declared on common stock	$ 600

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 4,820	$ 186
Income (loss) before income tax expense	$ 18,999	$ (528)
Effective income tax rate (percentage)	25.40%	(35.20%)
Pillar Two, minimum tax rate (percentage)	15%
Unrecognized tax benefits, period increase	$ 300
Unrecognized tax benefits	5,200
Reduction of deferred tax asset for unrecognized tax benefits	$ 2,800

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
	Mar. 31, 2024	Apr. 02, 2023
Equity [Abstract]
Interest rate swap contracts loss	$ 0	$ (393)
Discontinued cash flow hedge, reclassification out of accumulated other comprehensive loss, consolidated condensed statement of operations location	Interest expense	Interest expense
Amortization of benefit plan net actuarial losses and prior service cost	$ (374)	$ (192)
Total loss reclassified from accumulated other comprehensive loss	$ (374)	$ (585)