Interface (TILE) 10-Q 5 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 29, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 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		58,303,571
Entity Central Index Key	0000715787
Amendment Flag	false
Current Fiscal Year End Date	--12-29
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 115,601	$ 110,498
Accounts receivable, net	173,859	163,386
Inventories, net	283,096	279,079
Prepaid expenses and other current assets	35,605	30,895
Total current assets	608,161	583,858
Property, plant and equipment, net	284,845	291,140
Operating lease right-of-use assets	81,716	87,519
Deferred tax asset	21,604	21,721
Goodwill and intangible assets, net	159,428	161,703
Other assets	87,510	84,154
Total assets	1,243,264	1,230,095
Current liabilities
Accounts payable	78,279	62,912
Accrued expenses	136,626	130,890
Current portion of operating lease liabilities	12,888	12,347
Current portion of long-term debt	8,593	8,572
Total current liabilities	236,386	214,721
Long-term debt	329,347	408,641
Operating lease liabilities	72,861	78,269
Deferred income taxes	32,945	33,832
Other long-term liabilities	70,162	68,685
Total liabilities	741,701	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 September 29, 2024 and December 31, 2023	0	0
Common stock, par value $0.10 per share; 120,000 shares authorized; 58,304 and 58,112 shares issued and outstanding at September 29, 2024 and December 31, 2023, respectively	5,830	5,811
Additional paid-in capital	257,282	252,909
Retained earnings	384,258	320,833
Accumulated other comprehensive loss – foreign currency translation	(111,573)	(119,590)
Accumulated other comprehensive loss – pension liability	(34,234)	(34,016)
Total shareholders’ equity	501,563	425,947
Total liabilities and shareholders’ equity	$ 1,243,264	$ 1,230,095

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Income Statement [Abstract]
Net sales	$ 344,270	$ 311,006	$ 980,648	$ 936,380
Cost of sales	216,645	200,748	620,005	618,463
Gross profit	127,625	110,258	360,643	317,917
Selling, general and administrative expenses	85,450	79,273	255,871	251,049
Restructuring, asset impairment, and other gains, net	0	0	0	(2,502)
Operating income	42,175	30,985	104,772	69,370
Interest expense	5,721	8,163	18,317	24,986
Other expense, net	381	6,702	237	7,674
Income before income tax expense	36,073	16,120	86,218	36,710
Income tax expense	7,630	6,241	21,038	11,748
Net income	$ 28,443	$ 9,879	$ 65,180	$ 24,962
Earnings per share – basic (in dollars per share)	$ 0.49	$ 0.17	$ 1.12	$ 0.43
Earnings per share – diluted (in dollars per share)	$ 0.48	$ 0.17	$ 1.11	$ 0.43
Common shares outstanding – basic (in shares)	58,305	58,107	58,275	58,087
Common shares outstanding – diluted (in shares)	58,871	58,342	58,754	58,233

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 28,443	$ 9,879	$ 65,180	$ 24,962
Other comprehensive income (loss), after tax:
Foreign currency translation adjustment	21,131	(9,176)	8,017	(2,885)
Pension liability adjustment	(1,210)	202	(218)	(877)
Reclassification from accumulated other comprehensive loss – discontinued cash flow hedge	0	150	0	749
Other comprehensive income (loss)	19,921	(8,824)	7,799	(3,013)
Comprehensive income	$ 48,364	$ 1,055	$ 72,979	$ 21,949

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
OPERATING ACTIVITIES:
Net income	$ 65,180	$ 24,962
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	29,246	30,591
Share-based compensation expense	9,160	7,334
Loss (gain) on disposal of property, plant and equipment, net	139	(2,531)
Loss on foreign subsidiary liquidation	0	6,221
Deferred income taxes	(1,160)	438
Other	(2,318)	(1,109)
Amortization of acquired intangible assets	3,895	3,886
Working capital changes:
Accounts receivable	(10,656)	37,396
Inventories	(2,395)	14,135
Prepaid expenses and other current assets	(4,583)	(2,842)
Accounts payable and accrued expenses	23,879	(4,264)
Cash provided by operating activities	110,387	114,217
INVESTING ACTIVITIES:
Capital expenditures	(20,108)	(17,238)
Proceeds from sale of property, plant and equipment	1,040	6,593
Insurance proceeds from property casualty loss	2,374	0
Cash used in investing activities	(16,694)	(10,645)
FINANCING ACTIVITIES:
Repayments of long-term debt	(114,241)	(149,738)
Borrowing of long-term debt	33,381	74,000
Tax withholding payments for share-based compensation	(4,770)	(1,514)
Dividends paid	(1,755)	(1,742)
Finance lease payments	(2,160)	(1,853)
Cash used in financing activities	(89,545)	(80,847)
Net cash provided by operating, investing and financing activities	4,148	22,725
Effect of exchange rate changes on cash	955	(656)
CASH AND CASH EQUIVALENTS:
Net increase	5,103	22,069
Balance, beginning of period	110,498	97,564
Balance, end of period	$ 115,601	$ 119,633

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 29, 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)	58,304,000	58,112,000
Common stock, shares outstanding (in shares)	58,304,000	58,112,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 29, 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 nine-month periods ended September 29, 2024 and October 1, 2023 both include 39 weeks. The three-month periods ended September 29, 2024 and October 1, 2023 both include 13 weeks. Risks and Uncertainties Global economic challenges, including the impacts of the Russia-Ukraine and Israel-Hamas wars or other conflicts around the globe, supply chain disruptions, and slow macro environments in certain geographical regions 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. Reclassifications Certain reclassifications to previously reported information have been made in the consolidated condensed statements of cash flows to conform to the current period presentation. The previously reported line item “deferred income taxes and other” was separated into two line items in the current period presentation of the consolidated condensed statements of cash flows to provide additional information. These reclassifications had no effect on cash provided by operating activities as previously reported. 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. We are currently assessing the updated guidance; however, it is not expected to have a material impact to our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.
Risks and Uncertainties	Risks and Uncertainties
Reclassifications	Reclassifications Certain reclassifications to previously reported information have been made in the consolidated condensed statements of cash flows to conform to the current period presentation. The previously reported line item “deferred income taxes and other” was separated into two line items in the current period presentation of the consolidated condensed statements of cash flows to provide additional information. These reclassifications had no effect on cash provided by operating activities as previously reported.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 29, 2024
Revenues [Abstract]
Revenue Recognition	REVENUE RECOGNITION The Company generates revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material, and from the installation of carpet and other flooring-related material. A summary of these revenue streams, as a percentage of net sales, for the three and nine months ended September 29, 2024 and October 1, 2023 is as follows: Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Revenue from the sale of flooring material 96 % 98 % 97 % 98 % Revenue from installation of flooring material 4 2 3 2 Disaggregation of Revenue For the three and nine months ended September 29, 2024 and October 1, 2023, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Nine Months Ended Geography September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Americas 61.0 % 57.3 % 60.7 % 58.6 % Europe 28.2 30.3 28.9 30.0 Asia-Pacific 10.8 12.4 10.4 11.4 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	9 Months Ended
	Sep. 29, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories are summarized as follows: September 29, 2024 December 31, 2023 (in thousands) Finished goods $ 207,740 $ 201,821 Work-in-process 22,853 20,892 Raw materials 52,503 56,366 Inventories, net $ 283,096 $ 279,079

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 29, 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 Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands, except per share data) Numerator: Net income $ 28,443 $ 9,879 $ 65,180 $ 24,962 Less: distributed and undistributed earnings available to participating securities (119) (117) (425) (327) Distributed and undistributed earnings available to common shareholders $ 28,324 $ 9,762 $ 64,755 $ 24,635 Denominator: Weighted average shares outstanding 58,061 57,420 57,895 57,326 Participating securities 244 687 380 761 Shares for basic EPS 58,305 58,107 58,275 58,087 Dilutive effect of non-participating securities 566 235 479 146 Shares for diluted EPS 58,871 58,342 58,754 58,233 Basic EPS $ 0.49 $ 0.17 $ 1.12 $ 0.43 Diluted EPS $ 0.48 $ 0.17 $ 1.11 $ 0.43 For both the three and nine months ended September 29, 2024, there were no securities excluded from the computation of diluted EPS that would have been antidilutive. For both the three and nine months ended October 1, 2023, 855,785 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	9 Months Ended
	Sep. 29, 2024
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT Long-term debt consisted of the following: September 29, 2024 December 31, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility (2) : Term loan borrowings $ 41,167 5.32 % $ 121,658 6.61 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 341,167 421,658 Less: Unamortized debt issuance costs (3,227) (4,445) Total debt, net 337,940 417,213 Less: Current portion of long-term debt (8,593) (8,572) Total long-term debt, net $ 329,347 $ 408,641 (1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility and the stated rate of interest for the 5.50% Senior Notes due 2028, without the effect of debt issuance costs. (2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $300.0 million. There were no revolving loan borrowings outstanding as of September 29, 2024 or December 31, 2023. Syndicated Credit Facility The Company’s Syndicated Credit Facility (the “Facility”) provides to the Company U.S. denominated and multicurrency term loans and provides to the Company and certain of its subsidiaries a multicurrency revolving credit facility. Interest on base rate loans is charged at varying rates computed by applying a margin depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on SOFR-based and alternative currency loans is charged at varying rates computed by applying a margin over the applicable SOFR rate or alternative currency rate, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. In addition, the Company pays a commitment fee per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility. Fees for commercial letters of credit are computed as a percentage of the amount available to be drawn under such letters of credit. Fees for standby letters of credit are charged at varying rates computed by applying a margin of the amount available to be drawn under such standby letters of credit, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. As of September 29, 2024 and December 31, 2023, the Company had $0.7 million and $1.6 million, respectively, in letters of credit outstanding under the Facility. As of both September 29, 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 September 29, 2024, the estimated fair value of the Senior Notes was $294.8 million, compared with a net carrying value recorded in the Company’s consolidated condensed balance sheet of $297.1 million ($300.0 million gross, excluding the impact of $2.9 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.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024 and October 1, 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 Net income — — — 28,443 — — 28,443 Issuances of stock related to restricted share units 3 — — — — — — Cash dividends declared, $0.01 per common share — — — (582) — — (582) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (2) — 2,616 — — — 2,616 Foreign currency translation adjustment — — — — 21,131 — 21,131 Pension liability adjustment — — — — — (1,210) (1,210) Balance, at September 29, 2024 58,304 $ 5,830 $ 257,282 $ 384,258 $ (111,573) $ (34,234) $ 501,563 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 Net income — — — 9,879 — — — 9,879 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 (5) — 2,182 — — — — 2,182 Foreign currency translation adjustment — — — — (9,176) — — (9,176) Pension liability adjustment — — — — — 202 — 202 Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 150 150 Balance, at October 1, 2023 58,107 $ 5,811 $ 249,979 $ 301,859 $ (141,660) $ (28,425) $ — $ 387,564 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 $1.9 million and $3.4 million for the nine months ended September 29, 2024 and October 1, 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 September 29, 2024, as well as activity during the nine 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 (2,900) 13.19 Outstanding at September 29, 2024 242,300 $ 13.92 As of September 29, 2024, the unrecognized total compensation cost related to unvested restricted stock was $0.8 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 $2.6 million and $1.5 million for the nine months ended September 29, 2024 and October 1, 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 September 29, 2024, as well as activity during the nine months then ended: Restricted Share Units Weighted Average Outstanding at December 31, 2023 583,400 $ 10.35 Granted 402,800 13.24 Vested (157,200) 10.77 Forfeited or canceled (10,200) 11.41 Outstanding at September 29, 2024 818,800 $ 11.68 As of September 29, 2024, the unrecognized total compensation cost related to unvested restricted share units was $6.7 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 September 29, 2024, as well as the activity during the nine 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 (23,900) 12.53 Outstanding at September 29, 2024 1,171,600 $ 12.23 Compensation expense related to the performance shares was $4.7 million and $2.4 million for the nine months ended September 29, 2024 and October 1, 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 $6.3 million as of September 29, 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 $1.4 million for the nine months ended September 29, 2024.

Leases

Leases	9 Months Ended
	Sep. 29, 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 September 29, 2024 and December 31, 2023: September 29, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 81,716 $ 87,519 Current portion of operating lease liabilities $ 12,888 $ 12,347 Operating lease liabilities 72,861 78,269 Total operating lease liabilities $ 85,749 $ 90,616 Property, plant and equipment, net $ 7,526 $ 7,236 Accrued expenses $ 2,577 $ 2,587 Other long-term liabilities 5,335 5,035 Total finance lease liabilities $ 7,912 $ 7,622 As of September 29, 2024, there were no significant leases that had not commenced. Lease Costs Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 766 $ 696 $ 2,291 $ 2,056 Interest on lease liabilities 119 79 328 224 Operating lease cost 4,824 4,740 14,635 14,141 Short-term lease cost 241 187 637 934 Variable lease cost 805 583 2,140 1,924 Total lease cost $ 6,755 $ 6,285 $ 20,031 $ 19,279 Other Supplemental Information Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 115 $ 60 $ 316 $ 167 Operating cash flows from operating leases 4,377 4,130 12,797 12,771 Financing cash flows from finance leases 723 545 2,160 1,853 Right-of-use assets obtained in exchange for new finance lease liabilities 780 1,414 2,361 2,450 Right-of-use assets obtained in exchange for new operating lease liabilities 2,318 236 3,217 4,199 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 September 29, 2024 and December 31, 2023: September 29, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.66 3.70 Weighted-average remaining lease term – operating leases (in years) 7.94 8.29 Weighted-average discount rate – finance leases 6.31 % 5.51 % Weighted-average discount rate – operating leases 6.37 % 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 nine months ended September 29, 2024) $ 4,423 $ 821 2025 16,995 2,754 2026 16,839 2,218 2027 13,954 1,654 2028 11,459 946 Thereafter 46,668 516 Total future minimum lease payments (undiscounted) 110,338 8,909 Less: Present value discount (24,589) (997) Total lease liabilities $ 85,749 $ 7,912
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 September 29, 2024 and December 31, 2023: September 29, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 81,716 $ 87,519 Current portion of operating lease liabilities $ 12,888 $ 12,347 Operating lease liabilities 72,861 78,269 Total operating lease liabilities $ 85,749 $ 90,616 Property, plant and equipment, net $ 7,526 $ 7,236 Accrued expenses $ 2,577 $ 2,587 Other long-term liabilities 5,335 5,035 Total finance lease liabilities $ 7,912 $ 7,622 As of September 29, 2024, there were no significant leases that had not commenced. Lease Costs Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 766 $ 696 $ 2,291 $ 2,056 Interest on lease liabilities 119 79 328 224 Operating lease cost 4,824 4,740 14,635 14,141 Short-term lease cost 241 187 637 934 Variable lease cost 805 583 2,140 1,924 Total lease cost $ 6,755 $ 6,285 $ 20,031 $ 19,279 Other Supplemental Information Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 115 $ 60 $ 316 $ 167 Operating cash flows from operating leases 4,377 4,130 12,797 12,771 Financing cash flows from finance leases 723 545 2,160 1,853 Right-of-use assets obtained in exchange for new finance lease liabilities 780 1,414 2,361 2,450 Right-of-use assets obtained in exchange for new operating lease liabilities 2,318 236 3,217 4,199 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 September 29, 2024 and December 31, 2023: September 29, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.66 3.70 Weighted-average remaining lease term – operating leases (in years) 7.94 8.29 Weighted-average discount rate – finance leases 6.31 % 5.51 % Weighted-average discount rate – operating leases 6.37 % 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 nine months ended September 29, 2024) $ 4,423 $ 821 2025 16,995 2,754 2026 16,839 2,218 2027 13,954 1,654 2028 11,459 946 Thereafter 46,668 516 Total future minimum lease payments (undiscounted) 110,338 8,909 Less: Present value discount (24,589) (997) Total lease liabilities $ 85,749 $ 7,912

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 29, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS During the three and nine months ended September 29, 2024, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.8 million and $2.1 million, respectively. During the three and nine months ended October 1, 2023, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million and $2.0 million, respectively. The following tables provide the components of net periodic benefit cost for the three and nine months ended September 29, 2024 and October 1, 2023: Three Months Ended Nine Months Ended Defined Benefit Retirement Plans (Europe) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Interest cost $ 1,746 $ 1,791 $ 5,158 $ 5,304 Expected return on plan assets (2,009) (2,030) (5,930) (6,009) Amortization of prior service cost 46 30 135 89 Amortization of net actuarial losses 274 229 810 680 Net periodic benefit cost $ 57 $ 20 $ 173 $ 64 Three Months Ended Nine Months Ended Salary Continuation Plan September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Interest cost $ 267 $ 284 $ 799 $ 851 Amortization of net actuarial losses 59 49 179 146 Net periodic benefit cost $ 326 $ 333 $ 978 $ 997 Three Months Ended Nine Months Ended nora Defined Benefit Plan September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Service cost $ 126 $ 116 $ 376 $ 345 Interest cost 268 275 794 822 Amortization of net actuarial gains — (110) — (330) Net periodic benefit cost $ 394 $ 281 $ 1,170 $ 837 In accordance with applicable accounting standards, the service cost component of net periodic benefit costs is presented within operating income in the consolidated condensed statements of operations, while all other components of net periodic benefit costs are presented within other expense, net, in the consolidated condensed statements of operations.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024 is as follows: Goodwill (1) (in thousands) Balance, at December 31, 2023 $ 105,448 Foreign currency translation (2) 1,132 Balance, at September 29, 2024 $ 106,580 (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 $52.8 million and $56.3 million at September 29, 2024 and December 31, 2023, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024, were $19.1 million and $60.4 million, respectively, and intersegment revenues for the three and nine months ended October 1, 2023, were $25.0 million and $72.3 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 nine months ended September 29, 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 nine months ended September 29, 2024 and October 1, 2023 is presented in the following table: Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Net sales AMS $ 210,155 $ 178,194 $ 595,082 $ 548,716 EAAA 134,115 132,812 385,566 387,664 Total net sales $ 344,270 $ 311,006 $ 980,648 $ 936,380 Segment AOI AMS $ 32,187 $ 23,318 $ 77,214 $ 58,621 EAAA 11,299 9,049 31,402 16,805 Depreciation and amortization AMS $ 4,453 $ 4,640 $ 13,252 $ 13,457 EAAA 5,449 5,805 15,994 17,134 Total depreciation and amortization $ 9,902 $ 10,445 $ 29,246 $ 30,591 A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: September 29, 2024 December 31, 2023 (in thousands) Assets AMS $ 628,090 $ 627,782 EAAA 640,638 630,939 Total segment assets 1,268,728 1,258,721 Corporate assets 112,674 108,673 Eliminations (138,138) (137,299) Total reported assets $ 1,243,264 $ 1,230,095 Reconciliations of operating income to income before income tax expense and segment AOI are presented as follows: Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) AMS operating income $ 31,878 $ 23,530 $ 76,877 $ 56,997 EAAA operating income 10,297 7,455 27,895 12,373 Consolidated operating income 42,175 30,985 104,772 69,370 Interest expense 5,721 8,163 18,317 24,986 Other expense, net 381 6,702 237 7,674 Income before income tax expense $ 36,073 $ 16,120 $ 86,218 $ 36,710 Three Months Ended September 29, 2024 Three Months Ended October 1, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 31,878 $ 10,297 $ 23,530 $ 7,455 Purchase accounting amortization — 1,311 — 1,302 Cyber Event impact — — 62 42 Restructuring, asset impairment, severance, and other, net 309 (309) (274) 250 AOI $ 32,187 $ 11,299 $ 23,318 $ 9,049 Nine Months Ended September 29, 2024 Nine Months Ended October 1, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 76,877 $ 27,895 $ 56,997 $ 12,373 Purchase accounting amortization — 3,895 — 3,886 Cyber Event impact (225) (156) 554 415 Restructuring, asset impairment, severance, and other, net 562 (232) 1,070 131 AOI $ 77,214 $ 31,402 $ 58,621 $ 16,805

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 29, 2024
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the nine months ended September 29, 2024 and October 1, 2023 is presented in the following table: Nine Months Ended September 29, 2024 October 1, 2023 (in thousands) Cash paid for interest $ 13,659 $ 17,603 Cash paid for income taxes, net of refunds 25,905 17,588 See Note 7 entitled “Leases” for additional supplemental disclosures related to finance and operating leases.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024, the Company recorded a total income tax provision of $21.0 million on pre-tax income of $86.2 million resulting in an effective tax rate of 24.4%, as compared to a total income tax provision of $11.7 million on pre-tax income of $36.7 million resulting in an effective tax rate of 32.0% during the nine months ended October 1, 2023. The decrease in the effective tax rate for the period ended September 29, 2024, as compared to the period ended October 1, 2023, was primarily due to the release of the valuation allowance on interest expense carryforwards, favorable changes related to the limitation on the deduction of business interest expense under Internal Revenue Code section 163(j), an increase in tax benefits related to share-based compensation, and prior period non-deductible charges related to the substantial liquidation of subsidiaries in Brazil and Russia that occurred during the nine months ended October 1, 2023. These favorable changes were partially offset by a decrease in U.S. tax benefits related to foreign tax credit utilization, foreign derived intangible income, and the repatriation of previously taxed foreign earnings realized during the nine months ended October 1, 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 nine months of 2024, the Company increased its liability for unrecognized tax benefits by $0.4 million. As of September 29, 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 September 29, 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	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024 and October 1, 2023 are reflected in the tables below: Three Months Ended Statement of Operations Location September 29, 2024 October 1, 2023 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ — $ (6,221) Interest rate swap contracts loss Interest expense — (196) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (379) (198) Total loss reclassified from AOCL $ (379) $ (6,615) Nine Months Ended Statement of Operations Location September 29, 2024 October 1, 2023 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ — $ (6,221) Interest rate swap contracts loss Interest expense — (982) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (1,124) (585) Total loss reclassified from AOCL $ (1,124) $ (7,788) (1) The Company’s foreign subsidiaries in Russia and Brazil were substantially liquidated during the three months ended October 1, 2023, and the cumulative foreign currency translation losses associated with these entities were recognized in the consolidated condensed statements of operations. The tax impact of the cumulative foreign currency translation reclassification was approximately $1.1 million.

Assets Disposed

Assets Disposed	9 Months Ended
	Sep. 29, 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 attributable to the EAAA reportable segment was recorded in restructuring, asset impairment, and other gains, net, in the consolidated condensed statements of operations. The Company determined that the Thailand facility sale did not meet the criteria for classification as discontinued operations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 29, 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						9 Months Ended
	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Sep. 29, 2024	Oct. 01, 2023
Pay vs Performance Disclosure
Net income	$ 28,443	$ 22,558	$ 14,179	$ 9,879	$ 15,797	$ (714)	$ 65,180	$ 24,962

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 29, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended September 29, 2024, one of our directors, Daniel T. Hendrix, adopted a Rule 10b5-1 trading arrangement for the potential sale of our common stock in amounts and prices determined in accordance with such plan, as outlined in the table below: Name and Title Action Date Adopted Expiration Date Aggregate Number of Securities to be Purchased / Sold Daniel T. Hendrix, Director Adoption of Rule 10b5-1 Plan (1) September 4, 2024 May 30, 2025 75,000 (1) Intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934. Transactions in our securities by directors or officers of Interface or its subsidiaries are required to be made in accordance with our Insider Trading Policy, which incorporates applicable U.S. federal securities laws that prohibit trading Interface common stock and other Company securities while aware of material non-public information about Interface.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Daniel T. Hendrix [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 4, 2024
Arrangement Duration	268 days
Aggregate Available	75,000
Daniel T. Hendrix [Member]
Trading Arrangements, by Individual
Name	Daniel T. Hendrix
Title	Director

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 29, 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 nine-month periods ended September 29, 2024 and October 1, 2023 both include 39 weeks. The three-month periods ended September 29, 2024 and October 1, 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. We are currently assessing the updated guidance; however, it is not expected to have a material impact to our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 29, 2024
Revenues [Abstract]
Revenue by Products and Services	The Company generates revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material, and from the installation of carpet and other flooring-related material. A summary of these revenue streams, as a percentage of net sales, for the three and nine months ended September 29, 2024 and October 1, 2023 is as follows: Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Revenue from the sale of flooring material 96 % 98 % 97 % 98 % Revenue from installation of flooring material 4 2 3 2
Disaggregation of Revenue	For the three and nine months ended September 29, 2024 and October 1, 2023, revenue from the Company’s customers is broken down by geography as follows: Three Months Ended Nine Months Ended Geography September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Americas 61.0 % 57.3 % 60.7 % 58.6 % Europe 28.2 30.3 28.9 30.0 Asia-Pacific 10.8 12.4 10.4 11.4

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 29, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are summarized as follows: September 29, 2024 December 31, 2023 (in thousands) Finished goods $ 207,740 $ 201,821 Work-in-process 22,853 20,892 Raw materials 52,503 56,366 Inventories, net $ 283,096 $ 279,079

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 29, 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 Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands, except per share data) Numerator: Net income $ 28,443 $ 9,879 $ 65,180 $ 24,962 Less: distributed and undistributed earnings available to participating securities (119) (117) (425) (327) Distributed and undistributed earnings available to common shareholders $ 28,324 $ 9,762 $ 64,755 $ 24,635 Denominator: Weighted average shares outstanding 58,061 57,420 57,895 57,326 Participating securities 244 687 380 761 Shares for basic EPS 58,305 58,107 58,275 58,087 Dilutive effect of non-participating securities 566 235 479 146 Shares for diluted EPS 58,871 58,342 58,754 58,233 Basic EPS $ 0.49 $ 0.17 $ 1.12 $ 0.43 Diluted EPS $ 0.48 $ 0.17 $ 1.11 $ 0.43

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 29, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Long-term debt consisted of the following: September 29, 2024 December 31, 2023 Outstanding Principal Interest Rate (1) Outstanding Principal Interest Rate (1) (in thousands) (in thousands) Syndicated Credit Facility (2) : Term loan borrowings $ 41,167 5.32 % $ 121,658 6.61 % 5.50% Senior Notes due 2028 300,000 5.50 % 300,000 5.50 % Total debt 341,167 421,658 Less: Unamortized debt issuance costs (3,227) (4,445) Total debt, net 337,940 417,213 Less: Current portion of long-term debt (8,593) (8,572) Total long-term debt, net $ 329,347 $ 408,641 (1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility and the stated rate of interest for the 5.50% Senior Notes due 2028, without the effect of debt issuance costs. (2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $300.0 million. There were no revolving loan borrowings outstanding as of September 29, 2024 or December 31, 2023.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024 and October 1, 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 Net income — — — 28,443 — — 28,443 Issuances of stock related to restricted share units 3 — — — — — — Cash dividends declared, $0.01 per common share — — — (582) — — (582) Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (2) — 2,616 — — — 2,616 Foreign currency translation adjustment — — — — 21,131 — 21,131 Pension liability adjustment — — — — — (1,210) (1,210) Balance, at September 29, 2024 58,304 $ 5,830 $ 257,282 $ 384,258 $ (111,573) $ (34,234) $ 501,563 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 Net income — — — 9,879 — — — 9,879 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 (5) — 2,182 — — — — 2,182 Foreign currency translation adjustment — — — — (9,176) — — (9,176) Pension liability adjustment — — — — — 202 — 202 Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge — — — — — — 150 150 Balance, at October 1, 2023 58,107 $ 5,811 $ 249,979 $ 301,859 $ (141,660) $ (28,425) $ — $ 387,564
Schedule of Restricted Stock Outstanding and Activity	The following table summarizes restricted stock outstanding as of September 29, 2024, as well as activity during the nine 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 (2,900) 13.19 Outstanding at September 29, 2024 242,300 $ 13.92
Schedule of Restricted Share Units Outstanding and Activity	The following table summarizes restricted share units outstanding as of September 29, 2024, as well as activity during the nine months then ended: Restricted Share Units Weighted Average Outstanding at December 31, 2023 583,400 $ 10.35 Granted 402,800 13.24 Vested (157,200) 10.77 Forfeited or canceled (10,200) 11.41 Outstanding at September 29, 2024 818,800 $ 11.68
Schedule of Performance Shares Outstanding and Activity	The following table summarizes the performance shares outstanding as of September 29, 2024, as well as the activity during the nine 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 (23,900) 12.53 Outstanding at September 29, 2024 1,171,600 $ 12.23

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 29, 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 September 29, 2024 and December 31, 2023: September 29, 2024 December 31, 2023 Balance Sheet Location Operating Leases Finance Leases Operating Leases Finance Leases (in thousands) Operating lease right-of-use assets $ 81,716 $ 87,519 Current portion of operating lease liabilities $ 12,888 $ 12,347 Operating lease liabilities 72,861 78,269 Total operating lease liabilities $ 85,749 $ 90,616 Property, plant and equipment, net $ 7,526 $ 7,236 Accrued expenses $ 2,577 $ 2,587 Other long-term liabilities 5,335 5,035 Total finance lease liabilities $ 7,912 $ 7,622
Schedule of Lease Costs	Lease Costs Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 766 $ 696 $ 2,291 $ 2,056 Interest on lease liabilities 119 79 328 224 Operating lease cost 4,824 4,740 14,635 14,141 Short-term lease cost 241 187 637 934 Variable lease cost 805 583 2,140 1,924 Total lease cost $ 6,755 $ 6,285 $ 20,031 $ 19,279
Other Supplemental Information, Lessee	Other Supplemental Information Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 115 $ 60 $ 316 $ 167 Operating cash flows from operating leases 4,377 4,130 12,797 12,771 Financing cash flows from finance leases 723 545 2,160 1,853 Right-of-use assets obtained in exchange for new finance lease liabilities 780 1,414 2,361 2,450 Right-of-use assets obtained in exchange for new operating lease liabilities 2,318 236 3,217 4,199
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 September 29, 2024 and December 31, 2023: September 29, 2024 December 31, 2023 Weighted-average remaining lease term – finance leases (in years) 3.66 3.70 Weighted-average remaining lease term – operating leases (in years) 7.94 8.29 Weighted-average discount rate – finance leases 6.31 % 5.51 % Weighted-average discount rate – operating leases 6.37 % 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 nine months ended September 29, 2024) $ 4,423 $ 821 2025 16,995 2,754 2026 16,839 2,218 2027 13,954 1,654 2028 11,459 946 Thereafter 46,668 516 Total future minimum lease payments (undiscounted) 110,338 8,909 Less: Present value discount (24,589) (997) Total lease liabilities $ 85,749 $ 7,912
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 nine months ended September 29, 2024) $ 4,423 $ 821 2025 16,995 2,754 2026 16,839 2,218 2027 13,954 1,654 2028 11,459 946 Thereafter 46,668 516 Total future minimum lease payments (undiscounted) 110,338 8,909 Less: Present value discount (24,589) (997) Total lease liabilities $ 85,749 $ 7,912

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024 and October 1, 2023: Three Months Ended Nine Months Ended Defined Benefit Retirement Plans (Europe) September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Interest cost $ 1,746 $ 1,791 $ 5,158 $ 5,304 Expected return on plan assets (2,009) (2,030) (5,930) (6,009) Amortization of prior service cost 46 30 135 89 Amortization of net actuarial losses 274 229 810 680 Net periodic benefit cost $ 57 $ 20 $ 173 $ 64 Three Months Ended Nine Months Ended Salary Continuation Plan September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Interest cost $ 267 $ 284 $ 799 $ 851 Amortization of net actuarial losses 59 49 179 146 Net periodic benefit cost $ 326 $ 333 $ 978 $ 997 Three Months Ended Nine Months Ended nora Defined Benefit Plan September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Service cost $ 126 $ 116 $ 376 $ 345 Interest cost 268 275 794 822 Amortization of net actuarial gains — (110) — (330) Net periodic benefit cost $ 394 $ 281 $ 1,170 $ 837

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The ending balance and the change in the carrying amount of goodwill for the nine months ended September 29, 2024 is as follows: Goodwill (1) (in thousands) Balance, at December 31, 2023 $ 105,448 Foreign currency translation (2) 1,132 Balance, at September 29, 2024 $ 106,580 (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)	9 Months Ended
	Sep. 29, 2024
Segment Reporting [Abstract]
Schedule of Operating Segment Information	Segment information for the three and nine months ended September 29, 2024 and October 1, 2023 is presented in the following table: Three Months Ended Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) Net sales AMS $ 210,155 $ 178,194 $ 595,082 $ 548,716 EAAA 134,115 132,812 385,566 387,664 Total net sales $ 344,270 $ 311,006 $ 980,648 $ 936,380 Segment AOI AMS $ 32,187 $ 23,318 $ 77,214 $ 58,621 EAAA 11,299 9,049 31,402 16,805 Depreciation and amortization AMS $ 4,453 $ 4,640 $ 13,252 $ 13,457 EAAA 5,449 5,805 15,994 17,134 Total depreciation and amortization $ 9,902 $ 10,445 $ 29,246 $ 30,591
Reconciliation of Assets from Segment to Consolidated	A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows: September 29, 2024 December 31, 2023 (in thousands) Assets AMS $ 628,090 $ 627,782 EAAA 640,638 630,939 Total segment assets 1,268,728 1,258,721 Corporate assets 112,674 108,673 Eliminations (138,138) (137,299) Total reported assets $ 1,243,264 $ 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 Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (in thousands) AMS operating income $ 31,878 $ 23,530 $ 76,877 $ 56,997 EAAA operating income 10,297 7,455 27,895 12,373 Consolidated operating income 42,175 30,985 104,772 69,370 Interest expense 5,721 8,163 18,317 24,986 Other expense, net 381 6,702 237 7,674 Income before income tax expense $ 36,073 $ 16,120 $ 86,218 $ 36,710 Three Months Ended September 29, 2024 Three Months Ended October 1, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 31,878 $ 10,297 $ 23,530 $ 7,455 Purchase accounting amortization — 1,311 — 1,302 Cyber Event impact — — 62 42 Restructuring, asset impairment, severance, and other, net 309 (309) (274) 250 AOI $ 32,187 $ 11,299 $ 23,318 $ 9,049 Nine Months Ended September 29, 2024 Nine Months Ended October 1, 2023 AMS EAAA AMS EAAA (in thousands) Operating income $ 76,877 $ 27,895 $ 56,997 $ 12,373 Purchase accounting amortization — 3,895 — 3,886 Cyber Event impact (225) (156) 554 415 Restructuring, asset impairment, severance, and other, net 562 (232) 1,070 131 AOI $ 77,214 $ 31,402 $ 58,621 $ 16,805

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 29, 2024
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information for the nine months ended September 29, 2024 and October 1, 2023 is presented in the following table: Nine Months Ended September 29, 2024 October 1, 2023 (in thousands) Cash paid for interest $ 13,659 $ 17,603 Cash paid for income taxes, net of refunds 25,905 17,588

Items Reclassified from Accum_2

Items Reclassified from Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 29, 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 nine months ended September 29, 2024 and October 1, 2023 are reflected in the tables below: Three Months Ended Statement of Operations Location September 29, 2024 October 1, 2023 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ — $ (6,221) Interest rate swap contracts loss Interest expense — (196) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (379) (198) Total loss reclassified from AOCL $ (379) $ (6,615) Nine Months Ended Statement of Operations Location September 29, 2024 October 1, 2023 (in thousands) Loss on foreign subsidiary liquidation (1) Other expense, net $ — $ (6,221) Interest rate swap contracts loss Interest expense — (982) Amortization of benefit plan net actuarial losses and prior service cost Other expense, net (1,124) (585) Total loss reclassified from AOCL $ (1,124) $ (7,788) (1) The Company’s foreign subsidiaries in Russia and Brazil were substantially liquidated during the three months ended October 1, 2023, and the cumulative foreign currency translation losses associated with these entities were recognized in the consolidated condensed statements of operations. The tax impact of the cumulative foreign currency translation reclassification was approximately $1.1 million.

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Products and Services (Details)	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Revenue from the Sale of Flooring Material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	96%	98%	97%	98%
Revenue from Installation of Flooring Material
Revenue from External Customer [Line Items]
Percent of revenue due to contracts with customers (percentage)	4%	2%	3%	2%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details)	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Americas
Disaggregation of Revenue [Line Items]
Percentage of net sales	61%	57.30%	60.70%	58.60%
Europe
Disaggregation of Revenue [Line Items]
Percentage of net sales	28.20%	30.30%	28.90%	30%
Asia-Pacific
Disaggregation of Revenue [Line Items]
Percentage of net sales	10.80%	12.40%	10.40%	11.40%

Inventories - Summary of Invent

Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 207,740	$ 201,821
Work-in-process	22,853	20,892
Raw materials	52,503	56,366
Inventories, net	$ 283,096	$ 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						9 Months Ended
	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Sep. 29, 2024	Oct. 01, 2023
Numerator:
Net income	$ 28,443	$ 22,558	$ 14,179	$ 9,879	$ 15,797	$ (714)	$ 65,180	$ 24,962
Distributed and undistributed earnings available to participating securities, basic	(119)			(117)			(425)	(327)
Distributed and undistributed earnings available to participating securities, diluted	(119)			(117)			(425)	(327)
Distributed and undistributed earnings available to common shareholders, basic	28,324			9,762			64,755	24,635
Distributed and undistributed earnings available to common shareholders, diluted	$ 28,324			$ 9,762			$ 64,755	$ 24,635
Denominator:
Weighted average shares outstanding (in shares)	58,061			57,420			57,895	57,326
Participating securities (in shares)	244			687			380	761
Shares for basic earnings per share (in shares)	58,305			58,107			58,275	58,087
Dilutive effect of non-participating securities (in shares)	566			235			479	146
Shares for diluted earnings per share (in shares)	58,871			58,342			58,754	58,233
Earnings per share – basic (in dollars per share)	$ 0.49			$ 0.17			$ 1.12	$ 0.43
Earnings per share – diluted (in dollars per share)	$ 0.48			$ 0.17			$ 1.11	$ 0.43

Earnings Per Share - Narrative

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

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 341,167	$ 421,658
Less: Unamortized debt issuance costs	(3,227)	(4,445)
Total debt, net	337,940	417,213
Less: Current portion of long-term debt	(8,593)	(8,572)
Long-term debt, net	329,347	408,641
Syndicated Facility Agreement
Debt Instrument [Line Items]
Revolving loan facility, maximum borrowing capacity	300,000
Syndicated Facility Agreement | Revolving Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 41,167	$ 121,658
Weighted average interest rate on borrowings outstanding (percentage)	5.32%	6.61%
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000
Less: Unamortized debt issuance costs	(2,900)
Long-term debt, net	$ 297,100
Stated interest rate (percentage)	5.50%	5.50%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, net	$ 329,347	$ 408,641
Long-term debt, gross	341,167	421,658
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	3,227	4,445
Syndicated Facility Agreement
Debt Instrument [Line Items]
Letters of credit outstanding	700	1,600
Syndicated Facility Agreement | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 41,167	$ 121,658
Senior Notes
Debt Instrument [Line Items]
Stated interest rate (percentage)	5.50%	5.50%
Long-term debt, net	$ 297,100
Long-term debt, gross	300,000	$ 300,000
Unamortized debt issuance costs, recorded as reduction of long-term debt, net	2,900
Level 2 | Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value	$ 294,800

Shareholders' Equity - Activity

Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Sep. 29, 2024	Oct. 01, 2023
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	$ 451,165	$ 428,548	$ 425,947	$ 384,908	$ 367,029	$ 361,537	$ 425,947	$ 361,537
Net income (loss)	28,443	22,558	14,179	9,879	15,797	(714)	65,180	24,962
Issuances of stock related to restricted share units and performance shares	0	0	0		0	0
Restricted stock issuances		947			707
Unrecognized compensation expense related to restricted stock awards		(946)			(708)
Cash dividends declared	(582)	(584)	(589)	(581)	(581)	(580)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	2,616	2,130	(355)	2,182	1,803	1,836
Foreign currency translation adjustment	21,131	(2,022)	(11,092)	(9,176)	1,361	4,930	8,017	(2,885)
Pension liability adjustment	(1,210)	534	458	202	(800)	(279)	(218)	(877)
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge	0			150	300	299	0	749
Balance at end of period	$ 501,563	$ 451,165	$ 428,548	$ 387,564	$ 384,908	$ 367,029	$ 501,563	$ 387,564
Cash dividends declared, per common share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
COMMON STOCK
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period (in shares)	58,303	58,273	58,112	58,112	58,053	58,106	58,112	58,106
Balance at beginning of period	$ 5,830	$ 5,827	$ 5,811	$ 5,811	$ 5,805	$ 5,811	$ 5,811	$ 5,811
Issuances of stock related to restricted share units and performance shares (in shares)	3	4	472		5	79
Issuances of stock related to restricted share units and performance shares	$ 0	$ 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)	(2)	(32)	(311)	(5)	(48)	(132)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings	$ 0	$ (3)	$ (31)	$ 0	$ (5)	$ (14)
Balance at end of period (in shares)	58,304	58,303	58,273	58,107	58,112	58,053	58,304	58,107
Balance at end of period	$ 5,830	$ 5,830	$ 5,827	$ 5,811	$ 5,811	$ 5,805	$ 5,830	$ 5,811
ADDITIONAL PAID-IN CAPITAL
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	254,666	252,538	252,909	247,797	246,001	244,159	252,909	244,159
Issuances of stock related to restricted share units and performance shares	0	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	2,616	2,133	(324)	2,182	1,808	1,850
Balance at end of period	257,282	254,666	252,538	249,979	247,797	246,001	257,282	249,979
RETAINED EARNINGS
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	356,397	334,423	320,833	292,561	277,345	278,639	320,833	278,639
Net income (loss)	28,443	22,558	14,179	9,879	15,797	(714)
Cash dividends declared	(582)	(584)	(589)	(581)	(581)	(580)
Balance at end of period	384,258	356,397	334,423	301,859	292,561	277,345	384,258	301,859
FOREIGN CURRENCY TRANSLATION ADJUSTMENT
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(132,704)	(130,682)	(119,590)	(132,484)	(133,845)	(138,775)	(119,590)	(138,775)
Foreign currency translation adjustment	21,131	(2,022)	(11,092)	(9,176)	1,361	4,930
Balance at end of period	(111,573)	(132,704)	(130,682)	(141,660)	(132,484)	(133,845)	(111,573)	(141,660)
PENSION LIABILITY
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period	(33,024)	(33,558)	(34,016)	(28,627)	(27,827)	(27,548)	(34,016)	(27,548)
Pension liability adjustment	(1,210)	534	458	202	(800)	(279)
Balance at end of period	$ (34,234)	$ (33,024)	$ (33,558)	(28,425)	(28,627)	(27,827)	$ (34,234)	(28,425)
CASH FLOW HEDGE
Increase (Decrease) in Shareholders' Equity [Roll Forward]
Balance at beginning of period				(150)	(450)	(749)		(749)
Reclassification out of accumulated other comprehensive loss – discontinued cash flow hedge				150	300	299
Balance at end of period				$ 0	$ (150)	$ (450)		$ 0

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2024	Oct. 01, 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	$ 9,160	$ 7,334
Share-based compensation expense, tax benefit	1,400
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,900	3,400
Unrecognized compensation expense related to unvested share-based awards	800
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,600	1,500
Unrecognized compensation expense related to unvested share-based awards	6,700
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	4,700	$ 2,400
Unrecognized compensation expense related to unvested share-based awards	$ 6,300

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock	9 Months Ended
	Sep. 29, 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	(2,900)
Outstanding at end of period (in shares) | shares	242,300
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	$ 13.92

Shareholders' Equity - Restri_2

Shareholders' Equity - Restricted Share Units Outstanding (Details) - Restricted Share Units	9 Months Ended
	Sep. 29, 2024 $ / shares shares
Shares
Outstanding at beginning of period (in shares) | shares	583,400
Granted (in shares) | shares	402,800
Vested (in shares) | shares	(157,200)
Forfeited or canceled (in shares) | shares	(10,200)
Outstanding at end of period (in shares) | shares	818,800
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	10.77
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares	11.41
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	9 Months Ended
	Sep. 29, 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	(23,900)
Outstanding at end of period (in shares) | shares	1,171,600
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	12.53
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	Sep. 29, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 81,716	$ 87,519
Current portion of operating lease liabilities	12,888	12,347
Operating lease liabilities	72,861	78,269
Total operating lease liabilities	85,749	90,616
Finance lease right-of-use assets, net	$ 7,526	$ 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	$ 2,577	$ 2,587
Finance lease liability, current, consolidated condensed balance sheet location	Accrued expenses	Accrued expenses
Finance lease liabilities	$ 5,335	$ 5,035
Finance lease liability, noncurrent, consolidated condensed balance sheet location	Other long-term liabilities	Other long-term liabilities
Total finance lease liabilities	$ 7,912	$ 7,622

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Leases [Abstract]
Finance lease cost: Amortization of right-of-use assets	$ 766	$ 696	$ 2,291	$ 2,056
Finance lease cost: Interest on lease liabilities	119	79	328	224
Operating lease cost	4,824	4,740	14,635	14,141
Short-term lease cost	241	187	637	934
Variable lease cost	805	583	2,140	1,924
Total lease cost	$ 6,755	$ 6,285	$ 20,031	$ 19,279

Leases - Other Supplemental Inf

Leases - Other Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Leases [Abstract]
Operating cash flows from finance leases	$ 115	$ 60	$ 316	$ 167
Operating cash flows from operating leases	4,377	4,130	12,797	12,771
Financing cash flows from finance leases	723	545	2,160	1,853
Right-of-use assets obtained in exchange for new finance lease liabilities	780	1,414	2,361	2,450
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 2,318	$ 236	$ 3,217	$ 4,199

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Sep. 29, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term – finance leases (in years)	3 years 7 months 28 days	3 years 8 months 12 days
Weighted-average remaining lease term – operating leases (in years)	7 years 11 months 8 days	8 years 3 months 14 days
Weighted-average discount rate – finance leases (percentage)	6.31%	5.51%
Weighted-average discount rate – operating leases (percentage)	6.37%	6.25%

Leases - Maturity of Lease Paym

Leases - Maturity of Lease Payments (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024 (excluding the nine months ended September 29, 2024)	$ 4,423
2025	16,995
2026	16,839
2027	13,954
2028	11,459
Thereafter	46,668
Total future minimum lease payments (undiscounted)	110,338
Less: Present value discount	(24,589)
Total lease liabilities	85,749	$ 90,616
Lessee, Finance Lease, Liability, Payment, Due [Abstract]
2024 (excluding the nine months ended September 29, 2024)	821
2025	2,754
2026	2,218
2027	1,654
2028	946
Thereafter	516
Total future minimum lease payments (undiscounted)	8,909
Less: Present value discount	(997)
Total lease liabilities	$ 7,912	$ 7,622

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Retirement Benefits [Abstract]
Multiemployer plan, employer contribution	$ 0.8	$ 0.7	$ 2.1	$ 2

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Europe
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	$ 1,746	$ 1,791	$ 5,158	$ 5,304
Expected return on plan assets	(2,009)	(2,030)	(5,930)	(6,009)
Amortization of prior service cost	46	30	135	89
Amortization of net actuarial losses (gains)	274	229	810	680
Net periodic benefit cost	57	20	173	64
Salary Continuation Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Interest cost	267	284	799	851
Amortization of net actuarial losses (gains)	59	49	179	146
Net periodic benefit cost	326	333	978	997
nora Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Service cost	126	116	376	345
Interest cost	268	275	794	822
Amortization of net actuarial losses (gains)	0	(110)	0	(330)
Net periodic benefit cost	$ 394	$ 281	$ 1,170	$ 837

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - Operating Segments - AMS $ in Thousands	9 Months Ended
	Sep. 29, 2024 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 105,448
Foreign currency translation	1,132
Balance at end of period	$ 106,580

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Sep. 29, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of intangible assets, excluding goodwill, net	$ 52.8	$ 56.3

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2024 USD ($)	Oct. 01, 2023 USD ($)	Sep. 29, 2024 USD ($)	Oct. 01, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments			2
Number of reportable segments			2
Intersegment revenues	$ 19.1	$ 25	$ 60.4	$ 72.3

Segment Information - Operating

Segment Information - Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Segment Reporting Information [Line Items]
Net sales	$ 344,270	$ 311,006	$ 980,648	$ 936,380
Depreciation and amortization	9,902	10,445	29,246	30,591
Operating Segments | AMS
Segment Reporting Information [Line Items]
Net sales	210,155	178,194	595,082	548,716
AOI	32,187	23,318	77,214	58,621
Depreciation and amortization	4,453	4,640	13,252	13,457
Operating Segments | EAAA
Segment Reporting Information [Line Items]
Net sales	134,115	132,812	385,566	387,664
AOI	11,299	9,049	31,402	16,805
Depreciation and amortization	$ 5,449	$ 5,805	$ 15,994	$ 17,134

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Sep. 29, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,243,264	$ 1,230,095
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,268,728	1,258,721
Operating Segments | AMS
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	628,090	627,782
Operating Segments | EAAA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	640,638	630,939
Corporate, Non-Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	112,674	108,673
Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ (138,138)	$ (137,299)

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment AOI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	$ 42,175	$ 30,985	$ 104,772	$ 69,370
Interest expense	5,721	8,163	18,317	24,986
Other expense, net	381	6,702	237	7,674
Income before income tax expense	36,073	16,120	86,218	36,710
Purchase accounting amortization			3,895	3,886
Operating Segments | AMS
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	31,878	23,530	76,877	56,997
Purchase accounting amortization	0	0	0	0
Cyber Event impact	0	62	(225)	554
Restructuring, asset impairment, severance, and other, net	309	(274)	562	1,070
AOI	32,187	23,318	77,214	58,621
Operating Segments | EAAA
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]
Operating income	10,297	7,455	27,895	12,373
Purchase accounting amortization	1,311	1,302	3,895	3,886
Cyber Event impact	0	42	(156)	415
Restructuring, asset impairment, severance, and other, net	(309)	250	(232)	131
AOI	$ 11,299	$ 9,049	$ 31,402	$ 16,805

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 13,659	$ 17,603
Cash paid for income taxes, net of refunds	$ 25,905	$ 17,588

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 7,630	$ 6,241	$ 21,038	$ 11,748
Income before income tax expense	36,073	$ 16,120	$ 86,218	$ 36,710
Effective income tax rate (percentage)			24.40%	32%
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		9 Months Ended
	Sep. 29, 2024	Oct. 01, 2023	Sep. 29, 2024	Oct. 01, 2023
Equity [Abstract]
Loss on foreign subsidiary liquidation	$ 0	$ (6,221)	$ 0	$ (6,221)
Interest rate swap contracts loss	$ 0	$ (196)	$ 0	$ (982)
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	$ (379)	$ (198)	$ (1,124)	$ (585)
Total loss reclassified from accumulated other comprehensive loss	$ (379)	(6,615)	$ (1,124)	(7,788)
Loss on foreign subsidiary liquidation, tax		$ (1,100)		$ (1,100)

Assets Disposed - Narrative (De

Assets Disposed - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 02, 2023	Sep. 29, 2024	Oct. 01, 2023
Assets Disposed [Line Items]
Proceeds from sale of property, plant and equipment		$ 1,040	$ 6,593
Gain (loss) on disposal of property, plant and equipment		$ (139)	$ 2,531
2021 Restructuring Plan | Operating Segments | EAAA
Assets Disposed [Line Items]
Proceeds from sale of property, plant and equipment	$ 6,600
Gain (loss) on disposal of property, plant and equipment	$ 2,700