Interface (TILE) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		58,304,101
Entity Central Index Key	0000715787
Amendment Flag	false
Current Fiscal Year End Date	--12-29
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 94,187	$ 110,498
Accounts receivable, net	179,604	163,386
Inventories, net	281,074	279,079
Prepaid expenses and other current assets	36,953	30,895
Total current assets	591,818	583,858
Property, plant and equipment, net	281,719	291,140
Operating lease right-of-use assets	80,696	87,519
Deferred tax asset	21,577	21,721
Goodwill and intangible assets, net	154,605	161,703
Other assets	85,702	84,154
Total assets	1,216,117	1,230,095
Current liabilities
Accounts payable	78,524	62,912
Accrued expenses	114,961	130,890
Current portion of operating lease liabilities	12,692	12,347
Current portion of long-term debt	8,526	8,572
Total current liabilities	214,703	214,721
Long-term debt	379,027	408,641
Operating lease liabilities	71,531	78,269
Deferred income taxes	31,639	33,832
Other long-term liabilities	68,052	68,685
Total liabilities	764,952	804,148
Commitments and contingencies (Note 15)
Shareholders’ equity
Preferred stock, par value $1.00 per share; 5,000 shares authorized; none issued or outstanding at June 30, 2024 and December 31, 2023	0	0
Common stock, par value $0.10 per share; 120,000 shares authorized; 58,303 and 58,112 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	5,830	5,811
Additional paid-in capital	254,666	252,909
Retained earnings	356,397	320,833
Accumulated other comprehensive loss – foreign currency translation	(132,704)	(119,590)
Accumulated other comprehensive loss – pension liability	(33,024)	(34,016)
Total shareholders’ equity	451,165	425,947
Total liabilities and shareholders’ equity	$ 1,216,117	$ 1,230,095

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Income Statement [Abstract]
Net sales	$ 346,635	$ 329,582	$ 636,378	$ 625,374
Cost of sales	224,022	217,796	403,360	417,715
Gross profit	122,613	111,786	233,018	207,659
Selling, general and administrative expenses	84,462	85,522	170,421	171,776
Restructuring, asset impairment, and other gains, net	0	(2,644)	0	(2,502)
Operating income	38,151	28,908	62,597	38,385
Interest expense	6,173	8,318	12,596	16,823
Other expense (income), net	832	(528)	(144)	972
Income before income tax expense	31,146	21,118	50,145	20,590
Income tax expense	8,588	5,321	13,408	5,507
Net income	$ 22,558	$ 15,797	$ 36,737	$ 15,083
Earnings per share – basic (in dollars per share)	$ 0.39	$ 0.27	$ 0.63	$ 0.26
Earnings per share – diluted (in dollars per share)	$ 0.38	$ 0.27	$ 0.63	$ 0.26
Common shares outstanding – basic (in shares)	58,281	58,074	58,260	58,077
Common shares outstanding – diluted (in shares)	58,692	58,170	58,703	58,180

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 22,558	$ 15,797	$ 36,737	$ 15,083
Other comprehensive (loss) income, after tax:
Foreign currency translation adjustment	(2,022)	1,361	(13,114)	6,291
Reclassification from accumulated other comprehensive loss – discontinued cash flow hedge	0	300	0	599
Pension liability adjustment	534	(800)	992	(1,079)
Other comprehensive (loss) income	(1,488)	861	(12,122)	5,811
Comprehensive income	$ 21,070	$ 16,658	$ 24,615	$ 20,894

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
OPERATING ACTIVITIES:
Net income	$ 36,737	$ 15,083
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	19,344	20,146
Share-based compensation expense	6,531	5,125
Gain on disposal of property, plant and equipment, net	0	(2,541)
Deferred income taxes and other	(4,805)	(618)
Amortization of acquired intangible assets	2,584	2,584
Working capital changes:
Accounts receivable	(18,907)	17,770
Inventories	(5,661)	19,943
Prepaid expenses and other current assets	(6,332)	(3,611)
Accounts payable and accrued expenses	4,667	(25,957)
Cash provided by operating activities	34,158	47,924
INVESTING ACTIVITIES:
Capital expenditures	(13,607)	(11,331)
Proceeds from sale of property, plant and equipment	1,040	6,593
Insurance proceeds from property casualty loss	1,000	0
Cash used in investing activities	(11,567)	(4,738)
FINANCING ACTIVITIES:
Repayments of long-term debt	(46,930)	(112,107)
Borrowing of long-term debt	17,334	67,000
Tax withholding payments for share-based compensation	(4,754)	(1,487)
Dividends paid	(1,173)	(1,161)
Finance lease payments	(1,437)	(1,308)
Cash used in financing activities	(36,960)	(49,063)
Net cash used in operating, investing and financing activities	(14,369)	(5,877)
Effect of exchange rate changes on cash	(1,942)	1,248
CASH AND CASH EQUIVALENTS:
Net decrease	(16,311)	(4,629)
Balance, beginning of period	110,498	97,564
Balance, end of period	$ 94,187	$ 92,935

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 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)	58,303,000	58,112,000
Common stock, shares outstanding (in shares)	58,303,000	58,112,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 six-month periods ended June 30, 2024 and July 2, 2023 both include 26 weeks. The three-month periods ended June 30, 2024 and July 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	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Revenue Recognition	REVENUE RECOGNITION For the three and six months ended June 30, 2024 and July 2, 2023, revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material was approximately 98% of total revenue. The remaining 2% of revenue was generated from the installation of carpet and other flooring-related material for both three-month and six-month periods ended June 30, 2024 and July 2, 2023. Disaggregation of Revenue For the three and six months ended June 30, 2024 and July 2, 2023, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Six Months Ended Geography June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Americas 62.0 % 61.1 % 60.5 % 59.2 % Europe 27.6 28.0 29.4 29.9 Asia-Pacific 10.4 10.9 10.1 10.9 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	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are summarized as follows: June 30, 2024 December 31, 2023 (in thousands) Finished goods $ 208,956 $ 201,821 Work-in-process 21,297 20,892 Raw materials 50,821 56,366 Inventories, net $ 281,074 $ 279,079

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands, except per share data) Numerator: Net income $ 22,558 $ 15,797 $ 36,737 $ 15,083 Less: distributed and undistributed earnings available to participating securities (109) (189) (282) (207) Distributed and undistributed earnings available to common shareholders $ 22,449 $ 15,608 $ 36,455 $ 14,876 Denominator: Weighted average shares outstanding 58,001 57,381 57,812 57,279 Participating securities 280 693 448 798 Shares for basic EPS 58,281 58,074 58,260 58,077 Dilutive effect of non-participating securities 411 96 443 103 Shares for diluted EPS 58,692 58,170 58,703 58,180 Basic EPS $ 0.39 $ 0.27 $ 0.63 $ 0.26 Diluted EPS $ 0.38 $ 0.27 $ 0.63 $ 0.26 For the three and six months ended June 30, 2024, there were no securities excluded from the computation of diluted EPS that would have been antidilutive. For the three and six months ended July 2, 2023, 1,476,804 and 1,322,278 respectively, of non-participating securities were excluded from the computation of diluted EPS because the effect would have been antidilutive.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt consisted of the following: June 30, 2024 December 31, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility: Revolving loan borrowings $ 7,334 7.96 % $ — — % Term loan borrowings 83,916 6.18 % 121,658 6.61 % Total borrowings under Syndicated Credit Facility 91,250 6.32 % 121,658 6.61 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 391,250 421,658 Less: Unamortized debt issuance costs (3,697) (4,445) Total debt, net 387,553 417,213 Less: Current portion of long-term debt (8,526) (8,572) Total long-term debt, net $ 379,027 $ 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. 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 June 30, 2024 and December 31, 2023, the Company had $1.6 million in letters of credit outstanding under the Facility. As of both June 30, 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 June 30, 2024, the estimated fair value of the Senior Notes was $283.2 million, compared with a net carrying value recorded in the Company’s consolidated condensed balance sheet of $296.9 million ($300.0 million gross, excluding the impact of $3.1 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 June 30, 2024 and December 31, 2023, the unamortized debt issuance costs recorded as a reduction of long-term debt were $3.7 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 $1.2 million and $1.4 million as of June 30, 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	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2024 and July 2, 2023: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED FOREIGN CURRENCY TRANSLATION ADJUSTMENT PENSION LIABILITY TOTAL (in thousands, except per share data) Balance, at December 31, 2023 58,112 $ 5,811 $ 252,909 $ 320,833 $ (119,590) $ (34,016) $ 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) Foreign currency translation adjustment — — — — (11,092) — (11,092) Pension liability adjustment — — — — — 458 458 Balance, at March 31, 2024 58,273 $ 5,827 $ 252,538 $ 334,423 $ (130,682) $ (33,558) $ 428,548 Net income — — — 22,558 — — 22,558 Issuances of stock related to restricted share units and performance shares 4 — — — — — — Restricted stock issuances 58 6 941 — — — 947 Unrecognized compensation expense related to restricted stock awards — — (946) — — — (946) Cash dividends declared, $0.01 per common share — — — (584) — — (584) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (32) (3) 2,133 — — — 2,130 Foreign currency translation adjustment — — — — (2,022) — (2,022) Pension liability adjustment — — — — — 534 534 Balance, at June 30, 2024 58,303 $ 5,830 $ 254,666 $ 356,397 $ (132,704) $ (33,024) $ 451,165 SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED FOREIGN CURRENCY TRANSLATION ADJUSTMENT PENSION LIABILITY CASH FLOW TOTAL (in thousands, except per share data) Balance, at January 1, 2023 58,106 $ 5,811 $ 244,159 $ 278,639 $ (138,775) $ (27,548) $ (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 Foreign currency translation adjustment — — — — 4,930 — — 4,930 Pension liability adjustment — — — — — (279) — (279) 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 $ (133,845) $ (27,827) $ (450) $ 367,029 Net income — — — 15,797 — — — 15,797 Issuances of stock related to restricted share units and performance shares 5 1 (1) — — — — — Restricted stock issuances 102 10 697 — — — — 707 Unrecognized compensation expense related to restricted stock awards — — (708) — — — — (708) Cash dividends declared, $0.01 per common share — — — (581) — — — (581) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (48) (5) 1,808 — — — — 1,803 Foreign currency translation adjustment — — — — 1,361 — — 1,361 Pension liability adjustment — — — — — (800) — (800) Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 300 300 Balance, at July 2, 2023 58,112 $ 5,811 $ 247,797 $ 292,561 $ (132,484) $ (28,627) $ (150) $ 384,908 Stock Incentive Plan 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 . In May 2024, the shareholders of the Company approved the adoption of an amendment and restatement of the Interface, Inc. 2020 Omnibus Stock Incentive Plan (the “Amended and Restated Plan”). The aggregate number of shares of common stock that may be issued or transferred under the Amended and Restated Plan on or after the effective date of the plan is the sum of 3,200,000 shares not previously authorized for issuance under any plan, plus the number of shares remaining available for issuance under the original Interface, Inc. 2020 Omnibus Stock Incentive Plan (the “Original Plan”) but not subject to outstanding awards under the Original Plan immediately prior to the effective date of the Amended and Restated Plan, plus the number of shares remaining available for issuance pursuant to the outstanding awards under the Original Plan immediately prior to the effective date of the Amended and Restated Plan, including any shares that become available due to the forfeiture, termination or cancellation of such awards. No award may be granted after the tenth anniversary of the effective date of the Amended and Restated Plan. Restricted Stock Awards Compensation expense related to restricted stock grants was $1.4 million and $2.4 million for the six months ended June 30, 2024 and July 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 June 30, 2024, as well as activity during the six months then ended: Restricted Shares Weighted Average Outstanding at December 31, 2023 691,600 $ 12.55 Granted 58,400 16.22 Vested (504,800) 12.31 Forfeited or canceled (1,200) 13.19 Outstanding at June 30, 2024 244,000 $ 13.91 As of June 30, 2024, the unrecognized total compensation cost related to unvested restricted stock was $1.3 million. That cost is expected to be recognized by the second quarter of 2025. Restricted Share Unit Awards Compensation expense related to the restricted share units was $1.8 million and $1.0 million for the six months ended June 30, 2024 and July 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 June 30, 2024, as well as activity during the six months then ended: Restricted Share Units Weighted Average Outstanding at December 31, 2023 583,400 $ 10.35 Granted 402,800 13.24 Vested (154,400) 10.78 Forfeited or canceled (5,700) 10.80 Outstanding at June 30, 2024 826,100 $ 11.68 As of June 30, 2024, the unrecognized total compensation cost related to unvested restricted share units was $7.6 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 June 30, 2024, as well as the activity during the six months then ended: Performance Shares Weighted Average Outstanding at December 31, 2023 1,115,000 $ 12.36 Granted 402,800 13.24 Vested (322,300) 13.90 Forfeited or canceled (16,800) 12.65 Outstanding at June 30, 2024 1,178,700 $ 12.23 Compensation expense related to the performance shares was $3.3 million and $1.7 million for the six months ended June 30, 2024 and July 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 $7.7 million as of June 30, 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 $1.2 million for the six months ended June 30, 2024.

Leases

Leases	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 80,696 $ 87,519 Current portion of operating lease liabilities $ 12,692 $ 12,347 Operating lease liabilities 71,531 78,269 Total operating lease liabilities $ 84,223 $ 90,616 Property, plant and equipment, net $ 7,257 $ 7,236 Accrued expenses $ 2,556 $ 2,587 Other long-term liabilities 5,081 5,035 Total finance lease liabilities $ 7,637 $ 7,622 As of June 30, 2024, there were no significant leases that had not commenced. Lease Costs Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 749 $ 705 $ 1,525 $ 1,360 Interest on lease liabilities 110 85 209 145 Operating lease cost 4,822 4,698 9,811 9,401 Short-term lease cost 199 391 396 747 Variable lease cost 645 608 1,335 1,341 Total lease cost $ 6,525 $ 6,487 $ 13,276 $ 12,994 Other Supplemental Information Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 105 $ 55 $ 201 $ 107 Operating cash flows from operating leases 4,323 4,440 8,420 8,641 Financing cash flows from finance leases 721 665 1,437 1,308 Right-of-use assets obtained in exchange for new finance lease liabilities 1,191 479 1,581 1,036 Right-of-use assets obtained in exchange for new operating lease liabilities 634 2,842 899 3,963 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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.61 3.70 Weighted-average remaining lease term – operating leases (in years) 7.92 8.29 Weighted-average discount rate – finance leases 6.03 % 5.51 % Weighted-average discount rate – operating leases 6.30 % 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 six months ended June 30, 2024) $ 8,589 $ 1,544 2025 16,410 2,505 2026 16,256 1,976 2027 13,283 1,433 2028 10,774 763 Thereafter 42,623 328 Total future minimum lease payments (undiscounted) 107,935 8,549 Less: Present value discount (23,712) (912) Total lease liabilities $ 84,223 $ 7,637
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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 80,696 $ 87,519 Current portion of operating lease liabilities $ 12,692 $ 12,347 Operating lease liabilities 71,531 78,269 Total operating lease liabilities $ 84,223 $ 90,616 Property, plant and equipment, net $ 7,257 $ 7,236 Accrued expenses $ 2,556 $ 2,587 Other long-term liabilities 5,081 5,035 Total finance lease liabilities $ 7,637 $ 7,622 As of June 30, 2024, there were no significant leases that had not commenced. Lease Costs Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 749 $ 705 $ 1,525 $ 1,360 Interest on lease liabilities 110 85 209 145 Operating lease cost 4,822 4,698 9,811 9,401 Short-term lease cost 199 391 396 747 Variable lease cost 645 608 1,335 1,341 Total lease cost $ 6,525 $ 6,487 $ 13,276 $ 12,994 Other Supplemental Information Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 105 $ 55 $ 201 $ 107 Operating cash flows from operating leases 4,323 4,440 8,420 8,641 Financing cash flows from finance leases 721 665 1,437 1,308 Right-of-use assets obtained in exchange for new finance lease liabilities 1,191 479 1,581 1,036 Right-of-use assets obtained in exchange for new operating lease liabilities 634 2,842 899 3,963 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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.61 3.70 Weighted-average remaining lease term – operating leases (in years) 7.92 8.29 Weighted-average discount rate – finance leases 6.03 % 5.51 % Weighted-average discount rate – operating leases 6.30 % 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 six months ended June 30, 2024) $ 8,589 $ 1,544 2025 16,410 2,505 2026 16,256 1,976 2027 13,283 1,433 2028 10,774 763 Thereafter 42,623 328 Total future minimum lease payments (undiscounted) 107,935 8,549 Less: Present value discount (23,712) (912) Total lease liabilities $ 84,223 $ 7,637

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS During the three and six months ended June 30, 2024, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.6 million and $1.3 million, respectively. During the three and six months ended July 2, 2023, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $1.3 million, respectively. The following tables provide the components of net periodic benefit cost for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended Defined Benefit Retirement Plans (Europe) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Interest cost $ 1,702 $ 1,778 $ 3,412 $ 3,513 Expected return on plan assets (1,955) (2,015) (3,921) (3,979) Amortization of prior service cost 44 30 89 59 Amortization of net actuarial losses 267 228 536 451 Net periodic benefit cost $ 58 $ 21 $ 116 $ 44 Three Months Ended Six Months Ended Salary Continuation Plan June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Interest cost $ 266 $ 284 $ 532 $ 567 Amortization of net actuarial losses 60 48 120 97 Net periodic benefit cost $ 326 $ 332 $ 652 $ 664 Three Months Ended Six Months Ended nora Defined Benefit Plan June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Service cost $ 124 $ 115 $ 250 $ 229 Interest cost 262 275 526 547 Amortization of net actuarial gains — (111) — (220) Net periodic benefit cost $ 386 $ 279 $ 776 $ 556 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 (income), net, in the consolidated condensed statements of operations.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 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 goodwill for the six months ended June 30, 2024 is as follows: Goodwill (1) (in thousands) Balance, at December 31, 2023 $ 105,448 Foreign currency translation (2) (2,951) Balance, at June 30, 2024 $ 102,497 (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. The net carrying value of intangible assets other than goodwill was $52.1 million and $56.3 million at June 30, 2024 and December 31, 2023, respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024, were $24.5 million and $41.3 million, respectively, and intersegment revenues for the three and six months ended July 2, 2023, were $24.7 million and $47.3 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 three and six months ended June 30, 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 and six months ended June 30, 2024 and July 2, 2023 is presented in the following table: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Net sales AMS $ 215,012 $ 201,281 $ 384,927 $ 370,522 EAAA 131,623 128,301 251,451 254,852 Total net sales $ 346,635 $ 329,582 $ 636,378 $ 625,374 Segment AOI AMS $ 26,947 $ 24,034 $ 45,027 $ 35,303 EAAA 12,658 3,827 20,103 7,756 Depreciation and amortization AMS $ 4,446 $ 4,424 $ 8,799 $ 8,817 EAAA 5,282 5,731 10,545 11,329 Total depreciation and amortization $ 9,728 $ 10,155 $ 19,344 $ 20,146 A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: June 30, 2024 December 31, 2023 (in thousands) Assets AMS $ 581,835 $ 627,782 EAAA 618,901 630,939 Total segment assets 1,200,736 1,258,721 Corporate assets 109,939 108,673 Eliminations (94,558) (137,299) Total reported assets $ 1,216,117 $ 1,230,095 Reconciliations of operating income to income before income tax expense and segment AOI are presented as follows: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) AMS operating income $ 26,804 $ 24,752 $ 44,999 $ 33,467 EAAA operating income 11,347 4,156 17,598 4,918 Consolidated operating income 38,151 28,908 62,597 38,385 Interest expense 6,173 8,318 12,596 16,823 Other expense (income), net 832 (528) (144) 972 Income before income tax expense $ 31,146 $ 21,118 $ 50,145 $ 20,590 Three Months Ended June 30, 2024 Three Months Ended July 2, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 26,804 $ 11,347 $ 24,752 $ 4,156 Purchase accounting amortization — 1,287 — 1,301 Cyber Event impact 21 14 264 173 Property casualty loss (1) — — (1,300) — Restructuring, asset impairment, severance, and other, net 122 10 318 (1,803) AOI $ 26,947 $ 12,658 $ 24,034 $ 3,827 (1) Represents insurance recovery of loss recognized in the first quarter of 2023. Six Months Ended June 30, 2024 Six Months Ended July 2, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 44,999 $ 17,598 $ 33,467 $ 4,918 Purchase accounting amortization — 2,584 — 2,584 Cyber Event impact (225) (156) 492 373 Restructuring, asset impairment, severance, and other, net 253 77 1,344 (119) AOI $ 45,027 $ 20,103 $ 35,303 $ 7,756

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the six months ended June 30, 2024 and July 2, 2023 is presented in the following table: Six Months Ended June 30, 2024 July 2, 2023 (in thousands) Cash paid for interest $ 11,977 $ 14,692 Cash paid for income taxes, net of refunds 16,014 10,101 See Note 7 entitled “Leases” for additional supplemental disclosures related to finance and operating leases.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2024, the Company recorded a total income tax provision of $13.4 million on pre-tax income of $50.1 million resulting in an effective tax rate of 26.7%, as compared to a total income tax provision of $5.5 million on pre-tax income of $20.6 million resulting in an effective tax rate of 26.7% during the six months ended July 2, 2023. Although the year-over-year change in rate was flat, the effective tax rate for the period ended June 30, 2024 was favorably impacted by an increase in tax benefits related to share-based compensation and favorable changes related to the limitation on the deduction of business interest expense under Internal Revenue Code section 163(j), which were offset by a decrease in favorable tax benefits related to the repatriation of previously taxed foreign earnings realized during the six months ended July 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 six months of 2024, the Company increased its liability for unrecognized tax benefits by $0.4 million. As of June 30, 2024, the Company had accrued approximately $5.3 million for unrecognized tax benefits. In accordance with applicable accounting standards, the Company’s deferred tax asset as of June 30, 2024, reflects a reduction of $2.8 million of these unrecognized tax benefits. Unrecognized tax benefits are reviewed on an ongoing basis and are adjusted for changing facts and circumstances, including the progress of tax audits and the closing of statutes of limitations. While it is reasonably possible that some of the unrecognized tax benefits will be recognized within the next 12 months, the Company does not expect the recognition of such amounts will have a material impact on the Company’s financial results.

Items Reclassified from Accumul

Items Reclassified from Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 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 (“AOCL”), before tax, to the consolidated condensed statements of operations during the three and six months ended June 30, 2024 and July 2, 2023 are reflected in the tables below: Three Months Ended Statement of Operations Location June 30, 2024 July 2, 2023 (in thousands) Interest rate swap contracts loss Interest expense $ — $ (393) Amortization of benefit plan net actuarial losses and prior service cost Other expense (income), net (371) (195) Total loss reclassified from AOCL $ (371) $ (588) Six Months Ended Statement of Operations Location June 30, 2024 July 2, 2023 (in thousands) Interest rate swap contracts loss Interest expense $ — $ (786) Amortization of benefit plan net actuarial losses and prior service cost Other expense (income), net (745) (387) Total loss reclassified from AOCL $ (745) $ (1,173)

Assets Disposed

Assets Disposed	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Assets Disposed	ASSETS DISPOSED During the second quarter of 2023, pursuant to a previously announced plan of reorganization, the Company completed the sale of its Thailand manufacturing facility for a selling price of $6.6 million and recognized a gain of $2.7 million. The gain is recorded in restructuring, asset impairment, and other gains, net, 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	6 Months Ended
	Jun. 30, 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				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Pay vs Performance Disclosure
Net income	$ 22,558	$ 14,179	$ 15,797	$ (714)	$ 36,737	$ 15,083

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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)	6 Months Ended
	Jun. 30, 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 six-month periods ended June 30, 2024 and July 2, 2023 both include 26 weeks. The three-month periods ended June 30, 2024 and July 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)	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Disaggregation of Revenue	For the three and six months ended June 30, 2024 and July 2, 2023, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Six Months Ended Geography June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Americas 62.0 % 61.1 % 60.5 % 59.2 % Europe 27.6 28.0 29.4 29.9 Asia-Pacific 10.4 10.9 10.1 10.9

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: June 30, 2024 December 31, 2023 (in thousands) Finished goods $ 208,956 $ 201,821 Work-in-process 21,297 20,892 Raw materials 50,821 56,366 Inventories, net $ 281,074 $ 279,079

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands, except per share data) Numerator: Net income $ 22,558 $ 15,797 $ 36,737 $ 15,083 Less: distributed and undistributed earnings available to participating securities (109) (189) (282) (207) Distributed and undistributed earnings available to common shareholders $ 22,449 $ 15,608 $ 36,455 $ 14,876 Denominator: Weighted average shares outstanding 58,001 57,381 57,812 57,279 Participating securities 280 693 448 798 Shares for basic EPS 58,281 58,074 58,260 58,077 Dilutive effect of non-participating securities 411 96 443 103 Shares for diluted EPS 58,692 58,170 58,703 58,180 Basic EPS $ 0.39 $ 0.27 $ 0.63 $ 0.26 Diluted EPS $ 0.38 $ 0.27 $ 0.63 $ 0.26

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Long-term debt consisted of the following: June 30, 2024 December 31, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility: Revolving loan borrowings $ 7,334 7.96 % $ — — % Term loan borrowings 83,916 6.18 % 121,658 6.61 % Total borrowings under Syndicated Credit Facility 91,250 6.32 % 121,658 6.61 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 391,250 421,658 Less: Unamortized debt issuance costs (3,697) (4,445) Total debt, net 387,553 417,213 Less: Current portion of long-term debt (8,526) (8,572) Total long-term debt, net $ 379,027 $ 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.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2024 and July 2, 2023: SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED FOREIGN CURRENCY TRANSLATION ADJUSTMENT PENSION LIABILITY TOTAL (in thousands, except per share data) Balance, at December 31, 2023 58,112 $ 5,811 $ 252,909 $ 320,833 $ (119,590) $ (34,016) $ 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) Foreign currency translation adjustment — — — — (11,092) — (11,092) Pension liability adjustment — — — — — 458 458 Balance, at March 31, 2024 58,273 $ 5,827 $ 252,538 $ 334,423 $ (130,682) $ (33,558) $ 428,548 Net income — — — 22,558 — — 22,558 Issuances of stock related to restricted share units and performance shares 4 — — — — — — Restricted stock issuances 58 6 941 — — — 947 Unrecognized compensation expense related to restricted stock awards — — (946) — — — (946) Cash dividends declared, $0.01 per common share — — — (584) — — (584) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (32) (3) 2,133 — — — 2,130 Foreign currency translation adjustment — — — — (2,022) — (2,022) Pension liability adjustment — — — — — 534 534 Balance, at June 30, 2024 58,303 $ 5,830 $ 254,666 $ 356,397 $ (132,704) $ (33,024) $ 451,165 SHARES COMMON STOCK ADDITIONAL PAID-IN CAPITAL RETAINED FOREIGN CURRENCY TRANSLATION ADJUSTMENT PENSION LIABILITY CASH FLOW TOTAL (in thousands, except per share data) Balance, at January 1, 2023 58,106 $ 5,811 $ 244,159 $ 278,639 $ (138,775) $ (27,548) $ (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 Foreign currency translation adjustment — — — — 4,930 — — 4,930 Pension liability adjustment — — — — — (279) — (279) 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 $ (133,845) $ (27,827) $ (450) $ 367,029 Net income — — — 15,797 — — — 15,797 Issuances of stock related to restricted share units and performance shares 5 1 (1) — — — — — Restricted stock issuances 102 10 697 — — — — 707 Unrecognized compensation expense related to restricted stock awards — — (708) — — — — (708) Cash dividends declared, $0.01 per common share — — — (581) — — — (581) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (48) (5) 1,808 — — — — 1,803 Foreign currency translation adjustment — — — — 1,361 — — 1,361 Pension liability adjustment — — — — — (800) — (800) Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 300 300 Balance, at July 2, 2023 58,112 $ 5,811 $ 247,797 $ 292,561 $ (132,484) $ (28,627) $ (150) $ 384,908
Schedule of Restricted Stock Outstanding and Activity	The following table summarizes restricted stock outstanding as of June 30, 2024, as well as activity during the six months then ended: Restricted Shares Weighted Average Outstanding at December 31, 2023 691,600 $ 12.55 Granted 58,400 16.22 Vested (504,800) 12.31 Forfeited or canceled (1,200) 13.19 Outstanding at June 30, 2024 244,000 $ 13.91
Schedule of Restricted Share Units Outstanding and Activity	The following table summarizes restricted share units outstanding as of June 30, 2024, as well as activity during the six months then ended: Restricted Share Units Weighted Average Outstanding at December 31, 2023 583,400 $ 10.35 Granted 402,800 13.24 Vested (154,400) 10.78 Forfeited or canceled (5,700) 10.80 Outstanding at June 30, 2024 826,100 $ 11.68
Schedule of Performance Shares Outstanding and Activity	The following table summarizes the performance shares outstanding as of June 30, 2024, as well as the activity during the six months then ended: Performance Shares Weighted Average Outstanding at December 31, 2023 1,115,000 $ 12.36 Granted 402,800 13.24 Vested (322,300) 13.90 Forfeited or canceled (16,800) 12.65 Outstanding at June 30, 2024 1,178,700 $ 12.23

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 80,696 $ 87,519 Current portion of operating lease liabilities $ 12,692 $ 12,347 Operating lease liabilities 71,531 78,269 Total operating lease liabilities $ 84,223 $ 90,616 Property, plant and equipment, net $ 7,257 $ 7,236 Accrued expenses $ 2,556 $ 2,587 Other long-term liabilities 5,081 5,035 Total finance lease liabilities $ 7,637 $ 7,622
Schedule of Lease Costs	Lease Costs Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 749 $ 705 $ 1,525 $ 1,360 Interest on lease liabilities 110 85 209 145 Operating lease cost 4,822 4,698 9,811 9,401 Short-term lease cost 199 391 396 747 Variable lease cost 645 608 1,335 1,341 Total lease cost $ 6,525 $ 6,487 $ 13,276 $ 12,994
Other Supplemental Information, Lessee	Other Supplemental Information Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 105 $ 55 $ 201 $ 107 Operating cash flows from operating leases 4,323 4,440 8,420 8,641 Financing cash flows from finance leases 721 665 1,437 1,308 Right-of-use assets obtained in exchange for new finance lease liabilities 1,191 479 1,581 1,036 Right-of-use assets obtained in exchange for new operating lease liabilities 634 2,842 899 3,963
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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.61 3.70 Weighted-average remaining lease term – operating leases (in years) 7.92 8.29 Weighted-average discount rate – finance leases 6.03 % 5.51 % Weighted-average discount rate – operating leases 6.30 % 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 six months ended June 30, 2024) $ 8,589 $ 1,544 2025 16,410 2,505 2026 16,256 1,976 2027 13,283 1,433 2028 10,774 763 Thereafter 42,623 328 Total future minimum lease payments (undiscounted) 107,935 8,549 Less: Present value discount (23,712) (912) Total lease liabilities $ 84,223 $ 7,637
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 six months ended June 30, 2024) $ 8,589 $ 1,544 2025 16,410 2,505 2026 16,256 1,976 2027 13,283 1,433 2028 10,774 763 Thereafter 42,623 328 Total future minimum lease payments (undiscounted) 107,935 8,549 Less: Present value discount (23,712) (912) Total lease liabilities $ 84,223 $ 7,637

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The following tables provide the components of net periodic benefit cost for the three and six months ended June 30, 2024 and July 2, 2023: Three Months Ended Six Months Ended Defined Benefit Retirement Plans (Europe) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Interest cost $ 1,702 $ 1,778 $ 3,412 $ 3,513 Expected return on plan assets (1,955) (2,015) (3,921) (3,979) Amortization of prior service cost 44 30 89 59 Amortization of net actuarial losses 267 228 536 451 Net periodic benefit cost $ 58 $ 21 $ 116 $ 44 Three Months Ended Six Months Ended Salary Continuation Plan June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Interest cost $ 266 $ 284 $ 532 $ 567 Amortization of net actuarial losses 60 48 120 97 Net periodic benefit cost $ 326 $ 332 $ 652 $ 664 Three Months Ended Six Months Ended nora Defined Benefit Plan June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Service cost $ 124 $ 115 $ 250 $ 229 Interest cost 262 275 526 547 Amortization of net actuarial gains — (111) — (220) Net periodic benefit cost $ 386 $ 279 $ 776 $ 556

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The ending balance and the change in the carrying amount of goodwill for the six months ended June 30, 2024 is as follows: Goodwill (1) (in thousands) Balance, at December 31, 2023 $ 105,448 Foreign currency translation (2) (2,951) Balance, at June 30, 2024 $ 102,497 (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)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Operating Segment Information	Segment information for the three and six months ended June 30, 2024 and July 2, 2023 is presented in the following table: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) Net sales AMS $ 215,012 $ 201,281 $ 384,927 $ 370,522 EAAA 131,623 128,301 251,451 254,852 Total net sales $ 346,635 $ 329,582 $ 636,378 $ 625,374 Segment AOI AMS $ 26,947 $ 24,034 $ 45,027 $ 35,303 EAAA 12,658 3,827 20,103 7,756 Depreciation and amortization AMS $ 4,446 $ 4,424 $ 8,799 $ 8,817 EAAA 5,282 5,731 10,545 11,329 Total depreciation and amortization $ 9,728 $ 10,155 $ 19,344 $ 20,146
Reconciliation of Assets from Segment to Consolidated	A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: June 30, 2024 December 31, 2023 (in thousands) Assets AMS $ 581,835 $ 627,782 EAAA 618,901 630,939 Total segment assets 1,200,736 1,258,721 Corporate assets 109,939 108,673 Eliminations (94,558) (137,299) Total reported assets $ 1,216,117 $ 1,230,095
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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (in thousands) AMS operating income $ 26,804 $ 24,752 $ 44,999 $ 33,467 EAAA operating income 11,347 4,156 17,598 4,918 Consolidated operating income 38,151 28,908 62,597 38,385 Interest expense 6,173 8,318 12,596 16,823 Other expense (income), net 832 (528) (144) 972 Income before income tax expense $ 31,146 $ 21,118 $ 50,145 $ 20,590 Three Months Ended June 30, 2024 Three Months Ended July 2, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 26,804 $ 11,347 $ 24,752 $ 4,156 Purchase accounting amortization — 1,287 — 1,301 Cyber Event impact 21 14 264 173 Property casualty loss (1) — — (1,300) — Restructuring, asset impairment, severance, and other, net 122 10 318 (1,803) AOI $ 26,947 $ 12,658 $ 24,034 $ 3,827 (1) Represents insurance recovery of loss recognized in the first quarter of 2023. Six Months Ended June 30, 2024 Six Months Ended July 2, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 44,999 $ 17,598 $ 33,467 $ 4,918 Purchase accounting amortization — 2,584 — 2,584 Cyber Event impact (225) (156) 492 373 Restructuring, asset impairment, severance, and other, net 253 77 1,344 (119) AOI $ 45,027 $ 20,103 $ 35,303 $ 7,756

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information for the six months ended June 30, 2024 and July 2, 2023 is presented in the following table: Six Months Ended June 30, 2024 July 2, 2023 (in thousands) Cash paid for interest $ 11,977 $ 14,692 Cash paid for income taxes, net of refunds 16,014 10,101

Items Reclassified from Accum_2

Items Reclassified from Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Items Reclassified out of Accumulated Other Comprehensive Loss	Amounts reclassified out of accumulated other comprehensive loss (“AOCL”), before tax, to the consolidated condensed statements of operations during the three and six months ended June 30, 2024 and July 2, 2023 are reflected in the tables below: Three Months Ended Statement of Operations Location June 30, 2024 July 2, 2023 (in thousands) Interest rate swap contracts loss Interest expense $ — $ (393) Amortization of benefit plan net actuarial losses and prior service cost Other expense (income), net (371) (195) Total loss reclassified from AOCL $ (371) $ (588) Six Months Ended Statement of Operations Location June 30, 2024 July 2, 2023 (in thousands) Interest rate swap contracts loss Interest expense $ — $ (786) Amortization of benefit plan net actuarial losses and prior service cost Other expense (income), net (745) (387) Total loss reclassified from AOCL $ (745) $ (1,173)

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenue from the Sale of Flooring Material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	98%	98%	98%	98%
Revenue from Installation of Flooring Material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	2%	2%	2%	2%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Americas
Disaggregation of Revenue [Line Items]
Percentage of net sales	62%	61.10%	60.50%	59.20%
Europe
Disaggregation of Revenue [Line Items]
Percentage of net sales	27.60%	28%	29.40%	29.90%
Asia-Pacific
Disaggregation of Revenue [Line Items]
Percentage of net sales	10.40%	10.90%	10.10%	10.90%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 208,956	$ 201,821
Work-in-process	21,297	20,892
Raw materials	50,821	56,366
Inventories, net	$ 281,074	$ 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				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Numerator:
Net income	$ 22,558	$ 14,179	$ 15,797	$ (714)	$ 36,737	$ 15,083
Distributed and undistributed earnings available to participating securities, basic	(109)		(189)		(282)	(207)
Distributed and undistributed earnings available to participating securities, diluted	(109)		(189)		(282)	(207)
Distributed and undistributed earnings available to common shareholders, basic	22,449		15,608		36,455	14,876
Distributed and undistributed earnings available to common shareholders, diluted	$ 22,449		$ 15,608		$ 36,455	$ 14,876
Denominator:
Weighted average shares outstanding (in shares)	58,001		57,381		57,812	57,279
Participating securities (in shares)	280		693		448	798
Shares for basic earnings per share (in shares)	58,281		58,074		58,260	58,077
Dilutive effect of non-participating securities (in shares)	411		96		443	103
Shares for diluted earnings per share (in shares)	58,692		58,170		58,703	58,180
Earnings per share – basic (in dollars per share)	$ 0.39		$ 0.27		$ 0.63	$ 0.26
Earnings per share – diluted (in dollars per share)	$ 0.38		$ 0.27		$ 0.63	$ 0.26

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended	6 Months Ended
	Jul. 02, 2023	Jul. 02, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of EPS (in shares)	1,476,804	1,322,278

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 391,250	$ 421,658
Less: Unamortized debt issuance costs	(3,697)	(4,445)
Total debt, net	387,553	417,213
Less: Current portion of long-term debt	(8,526)	(8,572)
Long-term debt, net	379,027	408,641
Syndicated Facility Agreement
Debt Instrument [Line Items]
Long-term debt, gross	$ 91,250	$ 121,658
Weighted average interest rate on borrowings outstanding (percentage)	6.32%	6.61%
Syndicated Facility Agreement | Revolving Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 7,334	$ 0
Weighted average interest rate on borrowings outstanding (percentage)	7.96%	0%
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 83,916	$ 121,658
Weighted average interest rate on borrowings outstanding (percentage)	6.18%	6.61%
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000
Less: Unamortized debt issuance costs	(3,100)
Long-term debt, net	$ 296,900
Stated interest rate (percentage)	5.50%	5.50%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, net	$ 379,027	$ 408,641
Long-term debt, gross	391,250	421,658
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	3,697	4,445
Term Loan and Senior Notes
Debt Instrument [Line Items]
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	3,700	4,400
Syndicated Facility Agreement
Debt Instrument [Line Items]
Letters of credit outstanding	1,600	1,600
Long-term debt, gross	91,250	121,658
Unamortized debt issuance costs, revolving loan facility, net	1,200	1,400
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 83,916	$ 121,658
Senior Notes
Debt Instrument [Line Items]
Stated interest rate (percentage)	5.50%	5.50%
Long-term debt, net	$ 296,900
Long-term debt, gross	300,000	$ 300,000
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	3,100
Level 2 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value	$ 283,200

Shareholders' Equity - Activity

Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	$ 428,548	$ 425,947	$ 367,029	$ 361,537	$ 425,947	$ 361,537
Net income (loss)	22,558	14,179	15,797	(714)	36,737	15,083
Issuances of stock related to restricted share units and performance shares	0	0	0	0
Restricted stock issuances	947		707
Unrecognized compensation expense related to restricted stock awards	(946)		(708)
Cash dividends declared	(584)	(589)	(581)	(580)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	2,130	(355)	1,803	1,836
Foreign currency translation adjustment	(2,022)	(11,092)	1,361	4,930	(13,114)	6,291
Pension liability adjustment	534	458	(800)	(279)	992	(1,079)
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	0		300	299	0	599
Balance at end of period	$ 451,165	$ 428,548	$ 384,908	$ 367,029	$ 451,165	$ 384,908
Cash dividends declared, per common share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
COMMON STOCK
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	58,273	58,112	58,053	58,106	58,112	58,106
Balance at beginning of period	$ 5,827	$ 5,811	$ 5,805	$ 5,811	$ 5,811	$ 5,811
Issuances of stock related to restricted share units and performance shares (in shares)	4	472	5	79
Issuances of stock related to restricted share units and performance shares	$ 0	$ 47	$ 1	$ 8
Restricted stock issuances (in shares)	58		102
Restricted stock issuances	$ 6		$ 10
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (in shares)	(32)	(311)	(48)	(132)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	$ (3)	$ (31)	$ (5)	$ (14)
Balance at end of period (in shares)	58,303	58,273	58,112	58,053	58,303	58,112
Balance at end of period	$ 5,830	$ 5,827	$ 5,811	$ 5,805	$ 5,830	$ 5,811
ADDITIONAL PAID-IN CAPITAL
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	252,538	252,909	246,001	244,159	252,909	244,159
Issuances of stock related to restricted share units and performance shares	0	(47)	(1)	(8)
Restricted stock issuances	941		697
Unrecognized compensation expense related to restricted stock awards	(946)		(708)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	2,133	(324)	1,808	1,850
Balance at end of period	254,666	252,538	247,797	246,001	254,666	247,797
RETAINED EARNINGS
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	334,423	320,833	277,345	278,639	320,833	278,639
Net income (loss)	22,558	14,179	15,797	(714)
Cash dividends declared	(584)	(589)	(581)	(580)
Balance at end of period	356,397	334,423	292,561	277,345	356,397	292,561
FOREIGN CURRENCY TRANSLATION ADJUSTMENT
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(130,682)	(119,590)	(133,845)	(138,775)	(119,590)	(138,775)
Foreign currency translation adjustment	(2,022)	(11,092)	1,361	4,930
Balance at end of period	(132,704)	(130,682)	(132,484)	(133,845)	(132,704)	(132,484)
PENSION LIABILITY
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(33,558)	(34,016)	(27,827)	(27,548)	(34,016)	(27,548)
Pension liability adjustment	534	458	(800)	(279)
Balance at end of period	$ (33,024)	$ (33,558)	(28,627)	(27,827)	$ (33,024)	(28,627)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period			(450)	(749)		(749)
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge			300	299
Balance at end of period			$ (150)	$ (450)		$ (150)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	May 13, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance or transfer (in shares)			3,200,000
Share-based compensation expense	$ 6,531	$ 5,125
Share-based compensation expense, tax benefit	1,200
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,400	2,400
Unrecognized compensation expense related to unvested share-based awards	1,300
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,800	1,000
Unrecognized compensation expense related to unvested share-based awards	7,600
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,300	$ 1,700
Unrecognized compensation expense related to unvested share-based awards	$ 7,700

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	691,600
Granted (in shares) | shares	58,400
Vested (in shares) | shares	(504,800)
Forfeited or canceled (in shares) | shares	(1,200)
Outstanding at end of period (in shares) | shares	244,000
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	16.22
Vested, weighted average grant date fair value (in dollars per share) | $ / shares	12.31
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	$ 13.91

Shareholders' Equity - Restri_2

Shareholders' Equity - Restricted Share Units Outstanding (Details) - Restricted Share Units	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	583,400
Granted (in shares) | shares	402,800
Vested (in shares) | shares	(154,400)
Forfeited or canceled (in shares) | shares	(5,700)
Outstanding at end of period (in shares) | shares	826,100
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	10.78
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	$ 11.68

Shareholders' Equity - Performa

Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares	6 Months Ended
	Jun. 30, 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	(322,300)
Forfeited or canceled (in shares) | shares	(16,800)
Outstanding at end of period (in shares) | shares	1,178,700
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	13.90
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares	12.65
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.23

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 80,696	$ 87,519
Current portion of operating lease liabilities	12,692	12,347
Operating lease liabilities	71,531	78,269
Total operating lease liabilities	84,223	90,616
Finance lease right-of-use assets, net	$ 7,257	$ 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	$ 2,556	$ 2,587
Finance lease liability, current, consolidated condensed balance sheet location	Accrued expenses	Accrued expenses
Finance lease liabilities	$ 5,081	$ 5,035
Finance lease liability, noncurrent, consolidated condensed balance sheet location	Other long-term liabilities	Other long-term liabilities
Total finance lease liabilities	$ 7,637	$ 7,622

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Leases [Abstract]
Finance lease cost: Amortization of right-of-use assets	$ 749	$ 705	$ 1,525	$ 1,360
Finance lease cost: Interest on lease liabilities	110	85	209	145
Operating lease cost	4,822	4,698	9,811	9,401
Short-term lease cost	199	391	396	747
Variable lease cost	645	608	1,335	1,341
Total lease cost	$ 6,525	$ 6,487	$ 13,276	$ 12,994

Leases - Other Supplemental Inf

Leases - Other Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Leases [Abstract]
Operating cash flows from finance leases	$ 105	$ 55	$ 201	$ 107
Operating cash flows from operating leases	4,323	4,440	8,420	8,641
Financing cash flows from finance leases	721	665	1,437	1,308
Right-of-use assets obtained in exchange for new finance lease liabilities	1,191	479	1,581	1,036
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 634	$ 2,842	$ 899	$ 3,963

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term – finance leases (in years)	3 years 7 months 9 days	3 years 8 months 12 days
Weighted-average remaining lease term – operating leases (in years)	7 years 11 months 1 day	8 years 3 months 14 days
Weighted-average discount rate – finance leases (percentage)	6.03%	5.51%
Weighted-average discount rate – operating leases (percentage)	6.30%	6.25%

Leases - Maturity of Lease Paym

Leases - Maturity of Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024 (excluding the six months ended June 30, 2024)	$ 8,589
2025	16,410
2026	16,256
2027	13,283
2028	10,774
Thereafter	42,623
Total future minimum lease payments (undiscounted)	107,935
Less: Present value discount	(23,712)
Total lease liabilities	84,223	$ 90,616
Lessee, Finance Lease, Liability, Payment, Due [Abstract]
2024 (excluding the six months ended June 30, 2024)	1,544
2025	2,505
2026	1,976
2027	1,433
2028	763
Thereafter	328
Total future minimum lease payments (undiscounted)	8,549
Less: Present value discount	(912)
Total lease liabilities	$ 7,637	$ 7,622

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Retirement Benefits [Abstract]
Multiemployer plan, employer contribution	$ 0.6	$ 0.7	$ 1.3	$ 1.3

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Europe
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 1,702	$ 1,778	$ 3,412	$ 3,513
Expected return on plan assets	(1,955)	(2,015)	(3,921)	(3,979)
Amortization of prior service cost	44	30	89	59
Amortization of net actuarial losses (gains)	267	228	536	451
Net periodic benefit cost	58	21	116	44
Salary Continuation Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	266	284	532	567
Amortization of net actuarial losses (gains)	60	48	120	97
Net periodic benefit cost	326	332	652	664
nora Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Service cost	124	115	250	229
Interest cost	262	275	526	547
Amortization of net actuarial losses (gains)	0	(111)	0	(220)
Net periodic benefit cost	$ 386	$ 279	$ 776	$ 556

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - Operating Segments - AMS $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 105,448
Foreign currency translation	(2,951)
Balance at end of period	$ 102,497

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of intangible assets, excluding goodwill, net	$ 52.1	$ 56.3

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jul. 02, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jul. 02, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments			2
Number of reportable segments			2
Intersegment revenues	$ 24.5	$ 24.7	$ 41.3	$ 47.3

Segment Information - Operating

Segment Information - Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Segment Reporting Information [Line Items]
Net sales	$ 346,635	$ 329,582	$ 636,378	$ 625,374
Depreciation and amortization	9,728	10,155	19,344	20,146
Operating Segments | AMS
Segment Reporting Information [Line Items]
Net sales	215,012	201,281	384,927	370,522
AOI	26,947	24,034	45,027	35,303
Depreciation and amortization	4,446	4,424	8,799	8,817
Operating Segments | EAAA
Segment Reporting Information [Line Items]
Net sales	131,623	128,301	251,451	254,852
AOI	12,658	3,827	20,103	7,756
Depreciation and amortization	$ 5,282	$ 5,731	$ 10,545	$ 11,329

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,216,117	$ 1,230,095
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,200,736	1,258,721
Operating Segments | AMS
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	581,835	627,782
Operating Segments | EAAA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	618,901	630,939
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	109,939	108,673
Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (94,558)	$ (137,299)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment AOI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	$ 38,151	$ 28,908	$ 62,597	$ 38,385
Interest expense	6,173	8,318	12,596	16,823
Other expense (income), net	832	(528)	(144)	972
Income before income tax expense	31,146	21,118	50,145	20,590
Purchase accounting amortization			2,584	2,584
Operating Segments | AMS
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	26,804	24,752	44,999	33,467
Purchase accounting amortization	0	0	0	0
Cyber Event impact	21	264	(225)	492
Property casualty loss	0	(1,300)
Restructuring, asset impairment, severance, and other, net	122	318	253	1,344
AOI	26,947	24,034	45,027	35,303
Operating Segments | EAAA
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	11,347	4,156	17,598	4,918
Purchase accounting amortization	1,287	1,301	2,584	2,584
Cyber Event impact	14	173	(156)	373
Property casualty loss	0	0
Restructuring, asset impairment, severance, and other, net	10	(1,803)	77	(119)
AOI	$ 12,658	$ 3,827	$ 20,103	$ 7,756

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 11,977	$ 14,692
Cash paid for income taxes, net of refunds	$ 16,014	$ 10,101

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 8,588	$ 5,321	$ 13,408	$ 5,507
Income before income tax expense	31,146	$ 21,118	$ 50,145	$ 20,590
Effective income tax rate (percentage)			26.70%	26.70%
Pillar Two, minimum tax rate (percentage)			15%
Unrecognized tax benefits, period increase			$ 400
Unrecognized tax benefits	5,300		5,300
Reduction of deferred tax asset for unrecognized tax benefits	$ 2,800		$ 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		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Equity [Abstract]
Interest rate swap contracts loss	$ 0	$ (393)	$ 0	$ (786)
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	$ (371)	$ (195)	$ (745)	$ (387)
Total loss reclassified from accumulated other comprehensive loss	$ (371)	$ (588)	$ (745)	$ (1,173)

Assets Disposed - Narrative (De

Assets Disposed - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Assets Disposed [Line Items]
Proceeds from sale of property, plant and equipment		$ 1,040	$ 6,593
Gain on disposal of property, plant and equipment		$ 0	$ 2,541
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