Dorman Products (DORM) 10-Q 31 Oct 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	0-18914
Entity Registrant Name	Dorman Products, Inc.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-2078856
Entity Address, Address Line One	3400 East Walnut Street
Entity Address, City or Town	Colmar
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18915
City Area Code	215
Local Phone Number	997-1800
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	DORM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,488,115
Entity Central Index Key	0000868780
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Income Statement [Abstract]
Net sales	$ 488,186	$ 413,470	$ 1,435,492	$ 1,232,468
Cost of goods sold	304,968	281,559	944,291	825,792
Gross profit	183,218	131,911	491,201	406,676
Selling, general and administrative expenses	119,010	89,814	353,681	268,400
Income from operations	64,208	42,097	137,520	138,276
Interest expense, net	12,215	2,344	36,733	5,140
Other (income) expense, net	(605)	65	(1,358)	(130)
Income before income taxes	52,598	39,688	102,145	133,266
Provision for income taxes	12,076	9,087	23,170	29,553
Net income	40,522	30,601	78,975	103,713
Other comprehensive income:
Change in foreign currency translation adjustment	(1,214)	(2,112)	(529)	(2,415)
Comprehensive Income	$ 39,308	$ 28,489	$ 78,446	$ 101,298
Earnings per share:
Earning per share, basic (in dollars per share)	$ 1.29	$ 0.97	$ 2.51	$ 3.30
Earning per share, diluted (in dollars per share)	$ 1.28	$ 0.97	$ 2.50	$ 3.29
Weighted average shares outstanding:
Weighted average shares outstanding, basic (in shares)	31,483	31,411	31,462	31,444
Weighted average shares outstanding, diluted (in shares)	31,555	31,545	31,540	31,561

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 31,953	$ 46,034
Accounts receivable, less allowance for doubtful accounts of $1,715 and $1,363	484,447	427,385
Inventories	625,593	755,901
Prepaids and other current assets	53,363	39,800
Total current assets	1,195,356	1,269,120
Property, plant and equipment, net	157,737	148,477
Operating lease right-of-use assets	107,645	109,977
Goodwill	443,220	443,035
Intangible assets, net	306,802	322,409
Other assets	49,594	48,768
Total assets	2,260,354	2,341,786
Current liabilities:
Accounts payable	158,418	179,819
Accrued compensation	15,844	19,490
Accrued customer rebates and returns	192,014	192,116
Revolving credit facility	119,660	239,363
Current portion of long-term debt	12,500	12,500
Other accrued liabilities	34,612	35,007
Total current liabilities	533,048	678,295
Long-term debt	473,389	482,464
Long-term operating lease liabilities	95,200	98,221
Other long-term liabilities	15,484	28,349
Deferred tax liabilities, net	15,140	11,826
Commitments and contingencies (Note 7)
Shareholders’ equity:
Common stock, $0.01 par value; 50,000,000 shares authorized; 31,487,494 and 31,430,632 shares issued and outstanding in 2023 and 2022, respectively	315	314
Additional paid-in capital	97,342	88,750
Retained earnings	1,034,268	956,870
Accumulated other comprehensive loss	(3,832)	(3,303)
Total shareholders’ equity	1,128,093	1,042,631
Total liabilities and shareholders' equity	$ 2,260,354	$ 2,341,786

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts and customer credits	$ 1,715	$ 1,363
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	31,487,494	31,430,632
Common stock, shares outstanding (in shares)	31,487,494	31,430,632

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 25, 2021		31,607,509
Beginning balance at Dec. 25, 2021	$ 932,736	$ 316	$ 77,451	$ 856,409	$ (1,440)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		17,455
Exercise of stock options	971		971
Compensation expense under Incentive Stock Plan	6,742		6,742
Purchase and cancellation of common stock (in shares)		(201,135)
Purchase and cancellation of common stock	(19,717)	$ (2)	(362)	(19,353)
Issuance of non-vested stock, net of cancellations (in shares)		13,847
Issuance of non-vested stock, net of cancellations	1,189		1,189
Other stock related activity, net of tax (in shares)		(18,284)
Other stock-related activity, net of tax	(2,178)		(617)	(1,561)
Change in foreign currency translation adjustment	(2,415)				(2,415)
Net income	103,713			103,713
Ending balance (in shares) at Sep. 24, 2022		31,419,392
Ending balance at Sep. 24, 2022	1,021,041	$ 314	85,374	939,208	(3,855)
Beginning balance (in shares) at Jun. 25, 2022		31,425,224
Beginning balance at Jun. 25, 2022	990,957	$ 314	82,192	910,194	(1,743)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		169
Exercise of stock options	14		14
Compensation expense under Incentive Stock Plan	2,472		2,472
Purchase and cancellation of common stock (in shares)		(14,700)
Purchase and cancellation of common stock	(1,522)		(26)	(1,496)
Issuance of non-vested stock, net of cancellations (in shares)		9,626
Issuance of non-vested stock, net of cancellations	812		812
Other stock related activity, net of tax (in shares)		(927)
Other stock-related activity, net of tax	(181)		(90)	(91)
Change in foreign currency translation adjustment	(2,112)				(2,112)
Net income	30,601			30,601
Ending balance (in shares) at Sep. 24, 2022		31,419,392
Ending balance at Sep. 24, 2022	$ 1,021,041	$ 314	85,374	939,208	(3,855)
Beginning balance (in shares) at Dec. 31, 2022	31,430,632	31,430,632
Beginning balance at Dec. 31, 2022	$ 1,042,631	$ 314	88,750	956,870	(3,303)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		17,489
Exercise of stock options	1,167		1,167
Compensation expense under Incentive Stock Plan	8,336		8,336
Purchase and cancellation of common stock (in shares)		(11,850)
Purchase and cancellation of common stock	(1,008)		(21)	(987)
Issuance of non-vested stock, net of cancellations (in shares)		76,747
Issuance of non-vested stock, net of cancellations	1,004	$ 1	1,003
Other stock related activity, net of tax (in shares)		(25,524)
Other stock-related activity, net of tax	(2,483)		(1,893)	(590)
Change in foreign currency translation adjustment	(529)				(529)
Net income	$ 78,975			78,975
Ending balance (in shares) at Sep. 30, 2023	31,487,494	31,487,494
Ending balance at Sep. 30, 2023	$ 1,128,093	$ 315	97,342	1,034,268	(3,832)
Beginning balance (in shares) at Jul. 01, 2023		31,488,164
Beginning balance at Jul. 01, 2023	1,086,072	$ 315	94,452	993,923	(2,618)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		460
Exercise of stock options	37		37
Compensation expense under Incentive Stock Plan	2,901		2,901
Purchase and cancellation of common stock (in shares)		(2,010)
Purchase and cancellation of common stock	(180)		(3)	(177)
Issuance of non-vested stock, net of cancellations (in shares)		1,419
Issuance of non-vested stock, net of cancellations	0		0
Other stock related activity, net of tax (in shares)		(539)
Other stock-related activity, net of tax	(45)		(45)
Change in foreign currency translation adjustment	(1,214)				(1,214)
Net income	$ 40,522			40,522
Ending balance (in shares) at Sep. 30, 2023	31,487,494	31,487,494
Ending balance at Sep. 30, 2023	$ 1,128,093	$ 315	$ 97,342	$ 1,034,268	$ (3,832)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022
Cash Flows from Operating Activities:
Net income	$ 78,975	$ 103,713
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, amortization and accretion	40,786	31,131
Fair value adjustment to contingent consideration	(13,400)	0
Provision for doubtful accounts	2,721	80
Provision (benefit) for deferred income taxes	3,319	(546)
Provision for stock-based compensation	8,407	6,742
Changes in assets and liabilities:
Accounts receivable	(59,786)	39,325
Inventories	130,156	(146,278)
Prepaids and other current assets	(6,597)	(7,228)
Other assets	(3,981)	157
Accounts payable	(21,615)	17,887
Accrued customer rebates and returns	(101)	11,712
Accrued compensation and other liabilities	(9,774)	(27,351)
Cash provided by operating activities	149,110	29,344
Cash Flows from Investing Activities:
Acquisition, net of cash acquired	67	595
Property, plant and equipment additions	(32,936)	(23,780)
Cash used in investing activities	(32,869)	(23,185)
Cash Flows from Financing Activities:
Payments of revolving credit line	(119,700)	(10,000)
Payments of long-term debt	(9,375)	0
Proceeds from exercise of stock options	1,167	971
Purchase and cancellation of common stock	(1,008)	(19,717)
Other stock-related activity	(1,389)	(664)
Cash used in financing activities	(130,305)	(29,410)
Effect of exchange rate changes on Cash and Cash Equivalents	(17)	(96)
Net Decrease in Cash and Cash Equivalents	(14,081)	(23,347)
Cash and Cash Equivalents, Beginning of Period	46,034	58,782
Cash and Cash Equivalents, End of Period	31,953	35,435
Supplemental Cash Flow Information
Cash paid for interest expense	38,613	4,366
Cash paid for income taxes	$ 27,242	$ 49,670

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationAs used herein, unless the context requires otherwise, “Dorman,” the “Company,” “we,” “us,” or “our” refers to Dorman Products, Inc. and its subsidiaries. Our ticker symbol on the NASDAQ Global Select Market is “DORM.”The accompanying unaudited condensed consolidated financial statements have been prepared under U.S. generally accepted accounting principles (“GAAP”) for interim financial information and under the rules and regulations of the U.S. Securities and Exchange Commission. However, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of only normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023 or any future period. We may experience significant fluctuations from quarter to quarter in our results of operations due to the timing of orders placed by our customers and the introduction of new products and product lines to customers. These financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions On October 4, 2022 (the “Closing Date”), Dorman acquired 100% of the issued and outstanding equity interests of Super ATV, LLC ("SuperATV") (the “Transaction”), for aggregate consideration of $509.8 million (net of $6.8 million cash acquired), plus a potential earn-out payment to the sellers of SuperATV not to exceed $100 million in the aggregate, which remains subject to the achievement by SuperATV of certain revenue and gross margin targets in the years ending December 31, 2023 and December 31, 2024. In the nine months ended September 30, 2023, we received $0.3 million in cash as proceeds from the closing net working capital adjustments. SuperATV is a leading independent supplier to the powersports aftermarket with a family of highly respected brands spanning functional accessories and upgrades, as well as replacement parts for specialty vehicles. The Transaction was accounted for as a business combination under the acquisition method of accounting. We have allocated the purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. Our purchase price allocation for SuperATV assets acquired and liabilities assumed was complete as of September 30, 2023. The table below details the fair values of the assets acquired and the liabilities assumed at the acquisition date, including applicable measurement period adjustments: (in thousands) Accounts receivable $ 3,317 Inventories 90,428 Prepaids and other current assets 5,293 Property, plant and equipment 23,776 Goodwill 247,474 Identifiable intangible assets 157,500 Operating lease right-of-use assets 11,661 Other Assets 3,001 Accounts payable (7,436) Accrued compensation (2,086) Accrued customer rebates and returns (1,609) Other current liabilities (8,726) Long-term operating lease liabilities (9,508) Other long-term liabilities (3,307) Net cash consideration $ 509,778

Sales of Accounts Receivable

Sales of Accounts Receivable	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Sales of Accounts Receivable	Sales of Accounts Receivable We have entered several customer-sponsored programs administered by unrelated financial institutions that permit us to sell (factor) certain accounts receivable at discounted rates to the financial institutions. Transactions under these agreements were accounted for as sales of accounts receivable and the related accounts receivable were removed from our Condensed Consolidated Balance Sheets at the times of the sales transactions. Sales of accounts receivable under these agreements, and related factoring costs, which were included in selling, general and administrative expenses, were as follows: Three Months Ended Nine Months Ended (in thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Sales of accounts receivable $ 233,513 $ 239,926 $ 713,190 $ 778,051 Factoring costs 12,255 9,828 37,674 22,989

Inventories

Inventories	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories include the cost of material, freight, direct labor and overhead utilized in the processing of our products and are stated at the lower of cost or net realizable value. Inventories were as follows: (in thousands) September 30, 2023 December 31, 2022 Raw materials $ 30,570 $ 34,267 Bulk product 193,470 234,871 Finished product 393,271 478,032 Packaging materials 8,282 8,731 Total $ 625,593 $ 755,901

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Goodwill included the following: (in thousands) Balance at December 31, 2022 $ 443,035 Measurement period adjustments for SuperATV acquisition 233 Foreign currency translation (48) Balance at September 30, 2023 $ 443,220 Intangible Assets Intangible assets included the following: September 30, 2023 December 31, 2022 Intangible assets subject to amortization Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value (in thousands) Customer relationships $ 175,430 $ 29,388 $ 146,042 $ 175,430 $ 21,643 $ 153,787 Trade names 67,690 9,591 58,099 67,690 6,370 61,320 Product portfolio 107,800 8,012 99,788 107,800 2,953 104,847 Technology 2,167 1,006 1,161 2,167 820 1,347 Patents and other 2,230 518 1,712 1,430 322 1,108 Total $ 355,317 $ 48,515 $ 306,802 $ 354,517 $ 32,108 $ 322,409 Amortization expense was $5.5 million and $3.0 million during the three months ended September 30, 2023 and September 24, 2022, respectively, and $16.5 million and $9.1 million during the nine months ended September 30, 2023 and September 24, 2022, respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	DebtAs of September 30, 2023 and December 31, 2022, the weighted average interest rate on the outstanding borrowings under our credit facility was 6.92% and 5.78%, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Acquisitions We have contingent consideration related to acquisitions due to the uncertainty of the ultimate amount of any payments that will become due as earnout payments if performance targets are achieved. If the remaining performance targets for the acquisitions are fully achieved, the maximum additional contingent payments to be made under the transaction documents would be $102.0 million in aggregate. As of September 30, 2023 and December 31, 2022, we accrued $7.0 million and $20.0 million, respectively, representing the fair value of the estimated payments that we expect could become due in connection with the transactions. For the nine months ended September 30, 2023, we recorded a net decrease of $13.0 million to the contingent consideration liability, comprising a $13.4 million decrease in fair value based on the modeling of a range of performance outcomes relative to the achievement of targets established in the purchase agreement, partially offset by $0.4 million of accretion on the liability resulting from the passage of time. The net benefit was included in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The contingent consideration liability is measured each reporting period and recorded at fair value. The inputs used to calculate the fair value of the contingent consideration liability are considered to be Level 3 inputs due to the lack of relevant observable market activity and significant management judgment. The approach to valuing the contingent consideration uses unobservable factors such as projected revenues and cost of goods sold over the term of the earnout period, discounted for the period over which the contingent consideration is measured, and volatility rates. Based upon these assumptions, the contingent consideration is then valued using a Monte Carlo simulation. An increase in future revenue and gross profit may result in a higher estimated fair value while a decrease in future revenue and gross profit may result in a lower estimated fair value of the contingent consideration liability. Other Contingencies We are a party to or otherwise involved in legal proceedings that arise in the ordinary course of business, such as various claims and legal actions involving contracts, employment claims, competitive practices, intellectual property infringement, product liability claims and other matters arising out of the conduct of our business. In the opinion of management, none of the actions, individually or in the aggregate, taking into account relevant insurance coverage, would likely have a material financial impact on the Company and we believe the range of reasonably possible losses from current matters, taking into account relevant insurance coverage, is immaterial. However, legal matters are subject to inherent uncertainties and there exists the possibility that the ultimate resolution of any of these matters could have a material adverse impact on the Company’s cash flows, financial position or results of operations in the period in which any such effects are recorded.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables present our disaggregated revenue by type of major good / product line and geography. Three Months Ended Nine Months Ended (in thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Powertrain $ 193,493 $ 153,773 $ 546,212 $ 462,556 Chassis 181,723 174,707 559,509 513,301 Motor Vehicle body 97,843 72,717 283,468 215,764 Hardware 15,127 12,273 46,303 40,847 Total $ 488,186 $ 413,470 $ 1,435,492 $ 1,232,468 Three Months Ended Nine Months Ended (in thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Net sales to U.S. customers $ 448,360 $ 380,842 $ 1,317,353 $ 1,138,683 Net sales to non-U.S. customers 39,826 32,628 118,139 93,785 Total $ 488,186 $ 413,470 $ 1,435,492 $ 1,232,468

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Restricted Stock Awards (“RSAs”) and Restricted Stock Units (“RSUs”) We issue RSAs and RSUs to participants in our equity plans in the form of time-based RSAs and RSUs and performance-based RSAs and RSUs. Compensation cost related to RSA and RSU grants was $2.4 million and $1.8 million for the three months ended September 30, 2023 and September 24, 2022, respectively, and $6.7 million and $5.1 million for the nine months ended September 30, 2023 and September 24, 2022, respectively, and was included in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The following table summarizes our RSA and RSU activity for the nine months ended September 30, 2023: Shares Weighted Balance at December 31, 2022 238,922 $ 92.07 Granted 109,688 $ 96.01 Vested (70,550) $ 80.24 Canceled (17,692) $ 83.49 Balance at September 30, 2023 260,368 $ 97.51 For the nine months ended September 30, 2023, we granted 29,399 performance-based RSUs with a grant date fair value of $113.15 per share. For the nine months ended September 24, 2022, we granted 23,995 performance-based RSUs with a grant date fair value of $111.31 per share. As of September 30, 2023, there was $16.0 million of unrecognized compensation cost related to unvested RSA and RSU grants that is expected to be recognized over a weighted average period of 2.2 years. Stock Options We grant stock options to participants in our equity plans. Compensation cost related to stock option grants was $0.5 million and $0.5 million for the three months ended September 30, 2023 and September 24, 2022, respectively, and $1.5 million and $1.3 million for the nine months ended September 30, 2023 and September 24, 2022, respectively, and was included as selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The following table summarizes our stock option activity for the nine months ended September 30, 2023 : Shares Weighted Weighted Aggregate Balance at December 31, 2022 268,119 $ 84.03 Granted 79,404 $ 91.13 Canceled (6,510) $ 93.48 Exercised (24,297) $ 72.33 Balance at September 30, 2023 316,716 $ 86.51 5.6 $ 982 Exercisable at September 30, 2023 136,117 $ 80.50 4.6 $ 704 As of September 30, 2023, there was $4.6 million of unrecognized compensation cost related to unvested stock options that is expected to be recognized over a weighted average period of 2.8 years. Employee Stock Purchase Plan ("ESPP") During the nine months ended September 30, 2023, we issued 14,975 shares under the ESPP. During the three and nine months ended September 24, 2022, we issued 8,712 shares and 13,327 shares, respectively, under the ESPP.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share was calculated by dividing our net income by the weighted average number of common shares outstanding during the period, excluding unvested RSAs which are considered to be contingently issuable. To calculate diluted earnings per share, common share equivalents are added to the weighted average number of common shares outstanding. Common share equivalents are calculated using the treasury stock method and are computed based on outstanding stock-based awards. For the three months ended September 30, 2023 and September 24, 2022, there were approximately 294,000 shares and 31,000 shares, respectively, and for the nine months ended September 30, 2023 and September 24, 2022 there were approximately 295,000 shares and 32,000 shares, respectively, that were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive. The following table sets forth the computation of basic earnings per share and diluted earnings per share: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Net income $ 40,522 $ 30,601 $ 78,975 $ 103,713 Denominator: Weighted average basic shares outstanding 31,483 31,411 31,462 31,444 Effect of stock-based compensation awards 71 134 78 117 Weighted average diluted shares outstanding 31,555 31,545 31,540 31,561 Earnings Per Share: Basic $ 1.29 $ 0.97 $ 2.51 $ 3.30 Diluted $ 1.28 $ 0.97 $ 2.50 $ 3.29

Common Stock Repurchases

Common Stock Repurchases	9 Months Ended
	Sep. 30, 2023
Common Stock Repurchases [Abstract]
Common Stock Repurchases	Common Stock Repurchases We periodically repurchase, at the then current market price, and cancel common stock issued to the Dorman Products, Inc. 401(k) Retirement Plan and Trust (the “401(k) Plan”). 401(k) Plan participants can no longer purchase shares of Dorman common stock as an investment option under the 401(k) Plan. Shares are generally purchased by the Company from the 401(k) Plan when participants sell units as permitted by the 401(k) Plan or elect to leave the 401(k) Plan upon retirement, termination or other reasons. The following table summarizes the repurchase and cancellation of common stock by the Company for the periods indicated: Three Months Ended Nine Months Ended September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Shares repurchased and canceled 2,010 — 11,850 20,385 Total cost of shares repurchased and canceled (in thousands) $ 181 $ — $ 1,009 $ 2,140 Average price per share $ 89.99 $ — $ 85.11 $ 104.99 Separately, our Board of Directors has authorized the repurchase of up to $600 million of our common stock through December 31, 2024 under a previously announced share repurchase program and subsequent authorizations. Under this program, share repurchases may be made from time to time depending on market conditions, share price, share availability and other factors at our discretion. The share repurchase program does not obligate us to acquire any specific number of shares. At September 30, 2023, $228.0 million was available for repurchase under this share repurchase program. The following table summarizes the repurchase and cancellation of common stock under the share repurchase program: Three Months Ended Nine Months Ended September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Shares repurchased and canceled — 14,700 — 180,750 Total cost of shares repurchased and canceled (in thousands) $ — $ 1,523 $ — $ 17,577 Average price per share $ — $ 103.57 $ — $ 97.24

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes At September 30, 2023, we had $3.2 million of net unrecognized tax benefits, all of which would lower our effective tax rate if recognized. We recognize interest and penalties related to uncertain tax positions in income tax expense. As of September 30, 2023, accrued interest and penalties related to uncertain tax positions were not material. We file income tax returns in the United States, Canada, China, India, and Mexico. The statute of limitations for tax years before 2019 is closed for U.S. federal income tax purposes. The statute of limitations for tax years before 2017 is closed for the states in which we filed. The statute of limitations for tax years before 2020 is closed for income tax purposes in Canada and China. The statute of limitations for tax years before 2019 is closed for income tax purposes in India. The statute of limitations for tax years before 2018 is closed for income tax purposes in Mexico.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions We lease our Colmar, PA facility and a portion of our Lewisberry, PA facility from entities in which Steven L. Berman, our Non-Executive Chairman, and certain of his family members are owners. Each lease is a non-cancelable operating lease. Total rental payments to those entities under these lease arrangements will be $2.9 million in fiscal 2023 and were $2.5 million in fiscal 2022. The lease for our corporate headquarters in Colmar, PA was renewed in December 2022, effective as of January 1, 2023, and will expire on December 31, 2027. The lease for our Lewisberry, PA operating facility was signed in September 2020 and will expire on December 31, 2027. We also lease our facilities in Madison, IN and Shreveport, LA, from entities in which Lindsay Hunt, our President and Chief Executive Officer, Specialty Vehicles, and certain of her family members are owners. Each lease is a non-cancelable operating lease. Total rental payments to those entities under these lease arrangements will be $2.6 million in fiscal 2023. The leases for our operating facilities in Madison, IN and Shreveport, LA were renewed in October 2022 in connection with the acquisition of SuperATV and will expire on October 31, 2027. We signed a warehouse storage and services agreement with a counterparty that is majority-owned by a family member of Lindsay Hunt. The agreement provides for indoor storage space and material handling services at agreed-upon rates. Total payments under the arrangement are expected to be $0.2 million in fiscal 2023. The agreement was signed in October 2020 and expired in October 2023, but was extended on a month-to-month basis.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value DisclosuresThe carrying value of financial instruments such as cash and cash equivalents, accounts receivable, accounts payable, and other current assets and liabilities approximate their fair value based on the short-term nature of these instruments. The carrying value of borrowings under our credit facility approximates fair value because these borrowings bear interest at rates indexed to a market rate (Term SOFR).

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Pay vs Performance Disclosure
Net income	$ 40,522	$ 30,601	$ 78,975	$ 103,713

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The table below details the fair values of the assets acquired and the liabilities assumed at the acquisition date, including applicable measurement period adjustments: (in thousands) Accounts receivable $ 3,317 Inventories 90,428 Prepaids and other current assets 5,293 Property, plant and equipment 23,776 Goodwill 247,474 Identifiable intangible assets 157,500 Operating lease right-of-use assets 11,661 Other Assets 3,001 Accounts payable (7,436) Accrued compensation (2,086) Accrued customer rebates and returns (1,609) Other current liabilities (8,726) Long-term operating lease liabilities (9,508) Other long-term liabilities (3,307) Net cash consideration $ 509,778

Sale of Accounts Receivable (Ta

Sale of Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Summary of Sale of Accounts Receivable	Sales of accounts receivable under these agreements, and related factoring costs, which were included in selling, general and administrative expenses, were as follows: Three Months Ended Nine Months Ended (in thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Sales of accounts receivable $ 233,513 $ 239,926 $ 713,190 $ 778,051 Factoring costs 12,255 9,828 37,674 22,989

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories include the cost of material, freight, direct labor and overhead utilized in the processing of our products and are stated at the lower of cost or net realizable value. Inventories were as follows: (in thousands) September 30, 2023 December 31, 2022 Raw materials $ 30,570 $ 34,267 Bulk product 193,470 234,871 Finished product 393,271 478,032 Packaging materials 8,282 8,731 Total $ 625,593 $ 755,901

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill included the following: (in thousands) Balance at December 31, 2022 $ 443,035 Measurement period adjustments for SuperATV acquisition 233 Foreign currency translation (48) Balance at September 30, 2023 $ 443,220
Schedule of Intangible Assets	Intangible assets included the following: September 30, 2023 December 31, 2022 Intangible assets subject to amortization Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value (in thousands) Customer relationships $ 175,430 $ 29,388 $ 146,042 $ 175,430 $ 21,643 $ 153,787 Trade names 67,690 9,591 58,099 67,690 6,370 61,320 Product portfolio 107,800 8,012 99,788 107,800 2,953 104,847 Technology 2,167 1,006 1,161 2,167 820 1,347 Patents and other 2,230 518 1,712 1,430 322 1,108 Total $ 355,317 $ 48,515 $ 306,802 $ 354,517 $ 32,108 $ 322,409

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenue	The following tables present our disaggregated revenue by type of major good / product line and geography. Three Months Ended Nine Months Ended (in thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Powertrain $ 193,493 $ 153,773 $ 546,212 $ 462,556 Chassis 181,723 174,707 559,509 513,301 Motor Vehicle body 97,843 72,717 283,468 215,764 Hardware 15,127 12,273 46,303 40,847 Total $ 488,186 $ 413,470 $ 1,435,492 $ 1,232,468 Three Months Ended Nine Months Ended (in thousands) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Net sales to U.S. customers $ 448,360 $ 380,842 $ 1,317,353 $ 1,138,683 Net sales to non-U.S. customers 39,826 32,628 118,139 93,785 Total $ 488,186 $ 413,470 $ 1,435,492 $ 1,232,468

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of RSA and RSU Activity	The following table summarizes our RSA and RSU activity for the nine months ended September 30, 2023: Shares Weighted Balance at December 31, 2022 238,922 $ 92.07 Granted 109,688 $ 96.01 Vested (70,550) $ 80.24 Canceled (17,692) $ 83.49 Balance at September 30, 2023 260,368 $ 97.51
Summary of Stock Option Activity	The following table summarizes our stock option activity for the nine months ended September 30, 2023 : Shares Weighted Weighted Aggregate Balance at December 31, 2022 268,119 $ 84.03 Granted 79,404 $ 91.13 Canceled (6,510) $ 93.48 Exercised (24,297) $ 72.33 Balance at September 30, 2023 316,716 $ 86.51 5.6 $ 982 Exercisable at September 30, 2023 136,117 $ 80.50 4.6 $ 704

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic Earnings per Share and Diluted Earnings per Share	The following table sets forth the computation of basic earnings per share and diluted earnings per share: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Net income $ 40,522 $ 30,601 $ 78,975 $ 103,713 Denominator: Weighted average basic shares outstanding 31,483 31,411 31,462 31,444 Effect of stock-based compensation awards 71 134 78 117 Weighted average diluted shares outstanding 31,555 31,545 31,540 31,561 Earnings Per Share: Basic $ 1.29 $ 0.97 $ 2.51 $ 3.30 Diluted $ 1.28 $ 0.97 $ 2.50 $ 3.29

Common Stock Repurchases (Table

Common Stock Repurchases (Tables)	9 Months Ended
	Sep. 30, 2023
Common Stock Repurchases [Abstract]
Summary of Shares Repurchase and Cancellation	The following table summarizes the repurchase and cancellation of common stock by the Company for the periods indicated: Three Months Ended Nine Months Ended September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Shares repurchased and canceled 2,010 — 11,850 20,385 Total cost of shares repurchased and canceled (in thousands) $ 181 $ — $ 1,009 $ 2,140 Average price per share $ 89.99 $ — $ 85.11 $ 104.99 The following table summarizes the repurchase and cancellation of common stock under the share repurchase program: Three Months Ended Nine Months Ended September 30, 2023 September 24, 2022 September 30, 2023 September 24, 2022 Shares repurchased and canceled — 14,700 — 180,750 Total cost of shares repurchased and canceled (in thousands) $ — $ 1,523 $ — $ 17,577 Average price per share $ — $ 103.57 $ — $ 97.24

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
	Oct. 04, 2022	Sep. 30, 2023	Sep. 24, 2022
Business Acquisition [Line Items]
Business acquisition, purchase price		$ (67)	$ (595)
Super ATV LLC
Business Acquisition [Line Items]
Business acquisition, percentage of outstanding stock acquired	100%
Business acquisition, purchase price	$ 509,800
Business acquisition, net of acquired cash	6,800
Potential earn-out payment	$ 100,000
Cash as proceeds		$ 300

Acquisitions - Schedule of Esti

Acquisitions - Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Oct. 04, 2022
Business Acquisition [Line Items]
Goodwill	$ 443,220	$ 443,035
Super ATV LLC
Business Acquisition [Line Items]
Accounts receivable			$ 3,317
Inventories			90,428
Prepaids and other current assets			5,293
Property, plant and equipment			23,776
Goodwill			247,474
Identifiable intangible assets			157,500
Operating lease right-of-use assets			11,661
Other Assets			3,001
Accounts payable			(7,436)
Accrued compensation			(2,086)
Accrued customer rebates and returns			(1,609)
Other current liabilities			(8,726)
Long-term operating lease liabilities			(9,508)
Other long-term liabilities			(3,307)
Net cash consideration			$ 509,778

Sales of Accounts Receivable -

Sales of Accounts Receivable - Summary of Sale of Accounts Receivable (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Sale Of Accounts Receivable [Line Items]
Sales of accounts receivable	$ 233,513	$ 239,926	$ 713,190	$ 778,051
Factoring costs	119,010	89,814	353,681	268,400
Accounts Receivable Sales Programs
Sale Of Accounts Receivable [Line Items]
Factoring costs	$ 12,255	$ 9,828	$ 37,674	$ 22,989

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 30,570	$ 34,267
Bulk product	193,470	234,871
Finished product	393,271	478,032
Packaging materials	8,282	8,731
Total	$ 625,593	$ 755,901

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2022	$ 443,035
Measurement period adjustments for SuperATV acquisition	233
Foreign currency translation	(48)
Balance at September 30, 2023	$ 443,220

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 355,317	$ 354,517
Accumulated Amortization	48,515	32,108
Net Carrying Value	306,802	322,409
Customer relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	175,430	175,430
Accumulated Amortization	29,388	21,643
Net Carrying Value	146,042	153,787
Trade names
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	67,690	67,690
Accumulated Amortization	9,591	6,370
Net Carrying Value	58,099	61,320
Product portfolio
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	107,800	107,800
Accumulated Amortization	8,012	2,953
Net Carrying Value	99,788	104,847
Technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	2,167	2,167
Accumulated Amortization	1,006	820
Net Carrying Value	1,161	1,347
Patents and other
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	2,230	1,430
Accumulated Amortization	518	322
Net Carrying Value	$ 1,712	$ 1,108

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 5.5	$ 3	$ 16.5	$ 9.1

Debt - Additional Information (

Debt - Additional Information (Detail)	Sep. 30, 2023	Dec. 31, 2022
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, outstanding borrowing interest rate	6.92%	5.78%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Maximum contingency payable	$ 102,000
Estimated contingent payments	7,000		$ 20,000
Net decrease in contingent consideration liability	13,000
Fair value adjustment to contingent consideration	13,400	$ 0
Increase due to accretion as a result of the passage of time	$ 400

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregated Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Disaggregation Of Revenue [Line Items]
Total	$ 488,186	$ 413,470	$ 1,435,492	$ 1,232,468
Net sales to U.S. customers
Disaggregation Of Revenue [Line Items]
Total	448,360	380,842	1,317,353	1,138,683
Net sales to non-U.S. customers
Disaggregation Of Revenue [Line Items]
Total	39,826	32,628	118,139	93,785
Powertrain
Disaggregation Of Revenue [Line Items]
Total	193,493	153,773	546,212	462,556
Chassis
Disaggregation Of Revenue [Line Items]
Total	181,723	174,707	559,509	513,301
Motor Vehicle body
Disaggregation Of Revenue [Line Items]
Total	97,843	72,717	283,468	215,764
Hardware
Disaggregation Of Revenue [Line Items]
Total	$ 15,127	$ 12,273	$ 46,303	$ 40,847

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			109,688
Weighted-average grant-date fair value (in dollars per share)			$ 96.01
Compensation cost related to stock options	$ 0.5	$ 0.5	$ 1.5	$ 1.3
Number of common stock shares purchased (in shares)		8,712	14,975	13,327
RSA and RSU
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation cost related to restricted stock	2.4	$ 1.8	$ 6.7	$ 5.1
Unrecognized compensation cost related to non-vested restricted stock	16		$ 16
Unrecognized compensation cost related to non-vested restricted stock, weighted-average period			2 years 2 months 12 days
Performance-Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			29,399	23,995
Weighted-average grant-date fair value (in dollars per share)			$ 113.15	$ 111.31
Share-Based Payment Arrangement, Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested restricted stock	$ 4.6		$ 4.6
Unrecognized compensation cost related to non-vested restricted stock, weighted-average period			2 years 9 months 18 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of RSA and RSU Activity (Detail)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Beginning balance (in shares) | shares	238,922
Granted (in shares) | shares	109,688
Vested (in shares) | shares	(70,550)
Canceled (in shares) | shares	(17,692)
Ending balance (in shares) | shares	260,368
Weighted Average Fair Value
Beginning balance, weighted average fair value (in dollars per share) | $ / shares	$ 92.07
Granted (in dollars per share) | $ / shares	96.01
Vested (in dollars per share) | $ / shares	80.24
Canceled (in dollars per share) | $ / shares	83.49
Ending balance, weighted average fair value (in dollars per share) | $ / shares	$ 97.51

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Shares
Beginning balance (in shares) | shares	268,119
Granted (in shares) | shares	79,404
Canceled (in shares) | shares	(6,510)
Exercised (in shares) | shares	(24,297)
Ending balance (in shares) | shares	316,716
Exercisable (in shares) | shares	136,117
Weighted Average Price
Beginning balance, weighted average exercise price (in dollars per share) | $ / shares	$ 84.03
Granted (in dollars per share) | $ / shares	91.13
Canceled (in dollars per share) | $ / shares	93.48
Exercised (in dollars per share) | $ / shares	72.33
Ending balance, weighted average exercise price (in dollars per share) | $ / shares	86.51
Exercisable (in dollars per share) | $ / shares	$ 80.50
Weighted average remaining term	5 years 7 months 6 days
Weighted average remaining term, exercisable	4 years 7 months 6 days
Aggregate intrinsic value | $	$ 982
Aggregate intrinsic value, exercisable | $	$ 704

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Earnings Per Share [Abstract]
Stock-based awards considered as anti-dilutive	294,000	31,000	295,000	32,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Computation of Basic Earnings per Share and Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Earnings Per Share [Abstract]
Net income	$ 40,522	$ 30,601	$ 78,975	$ 103,713
Denominator:
Weighted average basic shares outstanding (in shares)	31,483	31,411	31,462	31,444
Effect of stock-based compensation awards (in shares)	71	134	78	117
Weighted average diluted shares outstanding (in shares)	31,555	31,545	31,540	31,561
Earnings Per Share:
Earning per share, basic (in dollars per share)	$ 1.29	$ 0.97	$ 2.51	$ 3.30
Earning per share, diluted (in dollars per share)	$ 1.28	$ 0.97	$ 2.50	$ 3.29

Common Stock Repurchases - Summ

Common Stock Repurchases - Summary of Shares Repurchase and Cancellation (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 24, 2022	Sep. 30, 2023	Sep. 24, 2022
Common Stock Repurchases
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased and canceled (in shares)	2,010	0	11,850	20,385
Total cost of shares repurchased and canceled (in thousands)	$ 181	$ 0	$ 1,009	$ 2,140
Average price per share (in dollars per share)	$ 89.99	$ 0	$ 85.11	$ 104.99
Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased and canceled (in shares)	0	14,700	0	180,750
Total cost of shares repurchased and canceled (in thousands)	$ 0	$ 1,523	$ 0	$ 17,577
Average price per share (in dollars per share)	$ 0	$ 103.57	$ 0	$ 97.24

Common Stock Repurchases - Addi

Common Stock Repurchases - Additional Information (Detail) - Share Repurchase Program	Sep. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share repurchase program shares authorized to be repurchased	$ 600,000,000
Shares available for repurchase under share repurchase program amount	$ 228,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	Sep. 30, 2023 USD ($)
Income Tax Disclosure [Abstract]
Net unrecognized tax benefits	$ 3.2

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023 Investment Supplier	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Board of Directors Chairman
Related Party Transaction [Line Items]
Rental payments based upon the terms of the lease			$ 2.5
Related Party
Related Party Transaction [Line Items]
Number of suppliers with company partners Joint Venture | Supplier	1
Minority interest investments in number of suppliers | Supplier	2
Number of investments accounted for under equity method | Investment	2
Number of investments accounted for under cost method | Investment	1
Scenario, Forecast | Board of Directors Chairman
Related Party Transaction [Line Items]
Rental payments based upon the terms of the lease		$ 2.9
Scenario, Forecast | President and Chief Executive Officer
Related Party Transaction [Line Items]
Rental payments based upon the terms of the lease		2.6
Scenario, Forecast | Immediate Family Member of President and CEO
Related Party Transaction [Line Items]
Rental payments based upon the terms of the lease		$ 0.2