Dorman Products (DORM) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 29, 2024	Jul. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
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		30,572,287
Entity Central Index Key	0000868780
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Net sales	$ 502,951	$ 480,568	$ 971,652	$ 947,306
Cost of goods sold	303,550	317,062	590,805	639,323
Gross profit	199,401	163,506	380,847	307,983
Selling, general and administrative expenses	126,949	108,308	253,957	234,671
Income from operations	72,452	55,198	126,890	73,312
Interest expense, net	10,202	12,565	20,807	24,518
Other (income) expense, net	(136)	(396)	(96)	(753)
Income before income taxes	62,386	43,029	106,179	49,547
Provision for income taxes	14,976	10,259	25,941	11,094
Net income	47,410	32,770	80,238	38,453
Other comprehensive income:
Change in foreign currency translation adjustment	(519)	566	(1,618)	685
Comprehensive Income	$ 46,891	$ 33,336	$ 78,620	$ 39,138
Earnings per share:
Earning per share, basic (in dollars per share)	$ 1.53	$ 1.04	$ 2.58	$ 1.22
Earning per share, diluted (in dollars per share)	$ 1.53	$ 1.04	$ 2.58	$ 1.22
Weighted average shares outstanding:
Weighted average shares outstanding, basic (in shares)	30,957	31,466	31,048	31,451
Weighted average shares outstanding, diluted (in shares)	31,071	31,528	31,160	31,533

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 47,467	$ 36,814
Accounts receivable, less allowance for doubtful accounts of $1,583 and $3,518	526,183	526,867
Inventories	620,371	637,375
Prepaids and other current assets	39,014	32,653
Total current assets	1,233,035	1,233,709
Property, plant and equipment, net	165,766	160,113
Operating lease right-of-use assets	102,461	103,476
Goodwill	443,020	443,889
Intangible assets, net	290,277	301,556
Other assets	51,156	49,664
Total assets	2,285,715	2,292,407
Current liabilities:
Accounts payable	164,657	176,664
Accrued compensation	22,266	23,971
Accrued customer rebates and returns	203,681	204,495
Revolving credit facility	69,460	92,760
Current portion of long-term debt	15,625	15,625
Other accrued liabilities	38,430	33,636
Total current liabilities	514,119	547,151
Long-term debt	461,188	467,239
Long-term operating lease liabilities	89,606	91,262
Other long-term liabilities	10,165	9,627
Deferred tax liabilities, net	9,317	8,925
Commitments and contingencies (Note 7)
Shareholders’ equity:
Common stock, $0.01 par value; 50,000,000 shares authorized; 30,765,672 and 31,299,770 shares issued and outstanding in 2024 and 2023, respectively	308	313
Additional paid-in capital	106,714	101,045
Retained earnings	1,098,506	1,069,435
Accumulated other comprehensive loss	(4,208)	(2,590)
Total shareholders’ equity	1,201,320	1,168,203
Total liabilities and shareholders' equity	$ 2,285,715	$ 2,292,407

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts and customer credits	$ 1,583	$ 3,518
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)	30,765,672	31,299,770
Common stock, shares outstanding (in shares)	30,765,672	31,299,770

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. 31, 2022		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)		17,029
Exercise of stock options	1,130		1,130
Compensation expense under incentive stock plans	5,435		5,435
Purchase and cancellation of common stock (in shares)		(9,840)
Purchase and cancellation of common stock	(828)		(18)	(810)
Issuance of common stock under incentive stock plans, net of cancellations (in shares)		75,328
Issuance of common stock under incentive stock plans, net of cancellations	1,004	$ 1	1,003
Other stock-related activity (in shares)		(24,985)
Other stock-related activity	(2,438)		(1,848)	(590)
Change in foreign currency translation adjustment	685				685
Net income	38,453			38,453
Ending balance (in shares) at Jul. 01, 2023		31,488,164
Ending balance at Jul. 01, 2023	1,086,072	$ 315	94,452	993,923	(2,618)
Beginning balance (in shares) at Apr. 01, 2023		31,469,310
Beginning balance at Apr. 01, 2023	1,049,144	$ 315	90,416	961,597	(3,184)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		1,399
Exercise of stock options	81		81
Compensation expense under incentive stock plans	3,123		3,123
Purchase and cancellation of common stock (in shares)		(4,715)
Purchase and cancellation of common stock	(395)		(9)	(386)
Issuance of common stock under incentive stock plans, net of cancellations (in shares)		23,177
Issuance of common stock under incentive stock plans, net of cancellations	1,004		1,004
Other stock-related activity (in shares)		(1,007)
Other stock-related activity	(221)		(163)	(58)
Change in foreign currency translation adjustment	566				566
Net income	32,770			32,770
Ending balance (in shares) at Jul. 01, 2023		31,488,164
Ending balance at Jul. 01, 2023	$ 1,086,072	$ 315	94,452	993,923	(2,618)
Beginning balance (in shares) at Dec. 31, 2023	31,299,770	31,299,770
Beginning balance at Dec. 31, 2023	$ 1,168,203	$ 313	101,045	1,069,435	(2,590)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		9,089
Exercise of stock options	559		559
Compensation expense under incentive stock plans	6,780		6,780
Purchase and cancellation of common stock (in shares)		(591,322)
Purchase and cancellation of common stock	(52,140)	$ (6)	(1,064)	(51,070)
Issuance of common stock under incentive stock plans, net of cancellations (in shares)		65,878
Issuance of common stock under incentive stock plans, net of cancellations	961	$ 1	960
Other stock-related activity (in shares)		(17,743)
Other stock-related activity	(1,663)		(1,566)	(97)
Change in foreign currency translation adjustment	(1,618)				(1,618)
Net income	$ 80,238			80,238
Ending balance (in shares) at Jun. 29, 2024	30,765,672	30,765,672
Ending balance at Jun. 29, 2024	$ 1,201,320	$ 308	106,714	1,098,506	(4,208)
Beginning balance (in shares) at Mar. 30, 2024		31,011,870
Beginning balance at Mar. 30, 2024	1,174,495	$ 310	102,211	1,075,663	(3,689)
Increase (Decrease) in Stockholders' Equity
Exercise of stock options (in shares)		3,549
Exercise of stock options	219		219
Compensation expense under incentive stock plans	3,849		3,849
Purchase and cancellation of common stock (in shares)		(273,390)
Purchase and cancellation of common stock	(25,004)	$ (3)	(492)	(24,509)
Issuance of common stock under incentive stock plans, net of cancellations (in shares)		24,521
Issuance of common stock under incentive stock plans, net of cancellations	961	$ 1	960
Other stock-related activity (in shares)		(878)
Other stock-related activity	(91)		(33)	(58)
Change in foreign currency translation adjustment	(519)				(519)
Net income	$ 47,410			47,410
Ending balance (in shares) at Jun. 29, 2024	30,765,672	30,765,672
Ending balance at Jun. 29, 2024	$ 1,201,320	$ 308	$ 106,714	$ 1,098,506	$ (4,208)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Cash Flows from Operating Activities:
Net income	$ 80,238	$ 38,453
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, amortization and accretion	28,203	26,969
Fair value adjustment to contingent consideration	0	(12,400)
Provision for doubtful accounts	(15)	2,357
Provision for deferred income taxes	472	2,980
Provision for stock-based compensation	6,780	5,435
Changes in assets and liabilities:
Accounts receivable	627	(27,522)
Inventories	16,745	113,331
Prepaids and other current assets	(5,739)	(12,229)
Other assets	(3,339)	(3,526)
Accounts payable	(12,112)	(28,028)
Accrued customer rebates and returns	(806)	(2,713)
Accrued compensation and other liabilities	4,275	(10,221)
Cash provided by operating activities	115,329	92,886
Cash Flows from Investing Activities:
Acquisition, net of cash acquired	0	67
Property, plant and equipment additions	(22,690)	(23,269)
Cash used in investing activities	(22,690)	(23,202)
Cash Flows from Financing Activities:
Payments of revolving credit line	(23,300)	(72,800)
Payments of long-term debt	(6,250)	(6,250)
Payment of deferred acquisition consideration	(200)	0
Proceeds from exercise of stock options	559	1,130
Purchase and cancellation of common stock	(52,033)	(828)
Other stock-related activity	(704)	(1,343)
Cash used in financing activities	(81,928)	(80,091)
Effect of exchange rate changes on Cash and Cash Equivalents	(58)	39
Net Increase (Decrease) in Cash and Cash Equivalents	10,653	(10,368)
Cash and Cash Equivalents, Beginning of Period	36,814	46,034
Cash and Cash Equivalents, End of Period	47,467	35,666
Supplemental Cash Flow Information
Cash paid for interest expense	20,332	26,745
Cash paid for income taxes	$ 26,374	$ 14,779

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation As 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 Stock Market LLC 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 six months ended June 29, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2024 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, 2023.

Sales of Accounts Receivable

Sales of Accounts Receivable	6 Months Ended
	Jun. 29, 2024
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 Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Sales of accounts receivable $ 251,538 $ 241,937 $ 536,756 $ 479,677 Factoring costs 12,622 11,895 26,232 25,419

Inventories

Inventories	6 Months Ended
	Jun. 29, 2024
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) June 29, 2024 December 31, 2023 Raw materials $ 29,614 $ 29,750 Bulk product 192,151 211,805 Finished product 389,412 387,668 Packaging materials 9,194 8,152 Total $ 620,371 $ 637,375

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Goodwill included the following: (in thousands) Light Duty Heavy Duty Specialty Vehicle Consolidated Balance at December 31, 2023 $ 313,704 $ 57,876 $ 72,309 $ 443,889 Foreign currency translation — (869) — (869) Balance at June 29, 2024 $ 313,704 $ 57,007 $ 72,309 $ 443,020 Intangible Assets Intangible assets included the following: June 29, 2024 December 31, 2023 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 $ 37,186 $ 138,244 $ 175,430 $ 31,678 $ 143,752 Trade names 67,690 12,797 54,893 67,690 10,676 57,014 Product portfolio 107,800 13,051 94,749 107,800 9,720 98,080 Technology 2,167 1,191 976 2,167 1,069 1,098 Patents and other 2,230 815 1,415 2,230 618 1,612 Total $ 355,317 $ 65,040 $ 290,277 $ 355,317 $ 53,761 $ 301,556 Amortization expense was $5.5 million during both the three months ended June 29, 2024 and July 1, 2023, and $11.1 million and $11.0 million during the six months ended June 29, 2024 and July 1, 2023, respectively.

Debt

Debt	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Debt	Debt As of June 29, 2024 and December 31, 2023, the interest rate on the outstanding borrowings under our credit facility was 6.82% and 6.96%, respectively.

Segment and Geographic Informat

Segment and Geographic Information	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Segment and Geographic Information	Segment and Geographic Information Segment results are as follows: For the Three Months Ended For the Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net Sales: Light Duty $ 385,358 $ 353,839 $ 744,651 $ 701,922 Heavy Duty 61,189 69,007 118,998 136,654 Specialty Vehicle 56,404 57,722 108,003 108,730 Total $ 502,951 $ 480,568 $ 971,652 $ 947,306 Segment profit: Light Duty $ 65,912 $ 41,013 $ 123,707 $ 62,460 Heavy Duty 2,721 3,386 2,730 8,734 Specialty Vehicle 10,030 9,705 17,199 16,785 Total $ 78,663 $ 54,104 $ 143,636 $ 87,979 A reconciliation of segment profit to income before income taxes is as follows: For the Three Months Ended For the Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Segment profit $ 78,663 $ 54,104 $ 143,636 $ 87,979 Acquisition-related intangible assets amortization (5,481) (5,418) (10,965) (10,851) Acquisition-related transaction and other costs (448) (5,866) (931) (14,415) Executive transition services expenses — (22) — — Pretax reduction in workforce costs (282) — (4,850) (1,801) Fair value adjustment to contingent consideration — 12,400 — 12,400 Interest expense, net (10,202) (12,565) (20,807) (24,518) Other income (expense), net 136 396 96 753 Income before income taxes $ 62,386 $ 43,029 $ 106,179 $ 49,547 The following table presents our net sales by geographic region: Three Months Ended Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales to U.S. customers $ 462,514 $ 438,300 $ 891,369 $ 868,993 Net sales to non-U.S. customers 40,437 42,268 80,283 78,313 Total $ 502,951 $ 480,568 $ 971,652 $ 947,306

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 29, 2024
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 June 29, 2024 and December 31, 2023, we estimated that no such contingent payments are expected to become due in connection with the acquisitions, and therefore accrued no liability. 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.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 29, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Restricted Stock Awards (“RSAs”) and Restricted Stock Units (“RSUs”) We grant RSUs, and prior to January 2020 we granted RSAs, to participants in our equity plans. Performance-based RSUs granted in the six months ended June 29, 2024 included certain grants that vest based on our total shareholder return ranking relative to the Nasdaq US Benchmark Auto Parts Index over a three-year performance period (market condition), and other grants that vest based upon achievement of return on invested capital targets over a three-year performance period (performance condition). Compensation cost related to RSA and RSU grants was $3.2 million and $2.6 million for the three months ended June 29, 2024 and July 1, 2023, respectively, and $5.7 million and $4.3 million for the six months ended June 29, 2024 and July 1, 2023 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 six months ended June 29, 2024: Shares Weighted Balance at December 31, 2023 257,554 $ 97.33 Granted 184,007 $ 98.95 Vested (55,401) $ 88.63 Canceled (27,523) $ 112.99 Balance at June 29, 2024 358,637 $ 98.30 For the six months ended June 29, 2024, we granted 32,109 performance-based RSUs containing a market condition with a grant date fair value of $138.58 per share. For the six months ended July 1, 2023, we granted 29,399 performance-based RSUs containing a market condition with a grant date fair value of $113.15 per share. As of June 29, 2024, there was $24.8 million of unrecognized compensation cost related to unvested RSA and RSU grants that is expected to be recognized over a weighted average period of 2.3 years. Stock Options From time to time, we grant stock options to participants in our equity plans. Compensation cost related to stock option grants was $0.4 million and $0.6 million for the three months ended June 29, 2024 and July 1, 2023, respectively, and $0.8 million and $1.0 million for the six months ended June 29, 2024 and July 1, 2023, 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 six months ended June 29, 2024 : Shares Weighted Weighted Aggregate Balance at December 31, 2023 311,217 $ 86.52 Canceled (6,416) $ 94.50 Exercised (10,311) $ 63.73 Balance at June 29, 2024 294,490 $ 87.14 4.9 $ 2,192 Exercisable at June 29, 2024 192,637 $ 83.34 4.3 $ 2,160 As of June 29, 2024, there was $2.9 million of unrecognized compensation cost related to unvested stock options that is expected to be recognized over a weighted average period of 2.2 years. Employee Stock Purchase Plan ("ESPP") During the three and six months ended June 29, 2024, we issued 13,555 shares under the ESPP. During the three and six months ended July 1, 2023, we issued 14,975 shares under the ESPP.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 29, 2024
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 June 29, 2024 and July 1, 2023, there were approximately 225,000 shares and 353,000 shares, respectively, and for the six months ended June 29, 2024 and July 1, 2023 there were approximately 272,000 shares and 295,000 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 Six Months Ended (in thousands, except per share data) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net income $ 47,410 $ 32,770 $ 80,238 $ 38,453 Denominator: Weighted average basic shares outstanding 30,957 31,466 31,048 31,451 Effect of stock-based compensation awards 114 62 112 82 Weighted average diluted shares outstanding 31,071 31,528 31,160 31,533 Earnings Per Share: Basic $ 1.53 $ 1.04 $ 2.58 $ 1.22 Diluted $ 1.53 $ 1.04 $ 2.58 $ 1.22

Common Stock Repurchases

Common Stock Repurchases	6 Months Ended
	Jun. 29, 2024
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 Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Shares repurchased and canceled 1,245 4,715 9,004 9,840 Total cost of shares repurchased and canceled (in thousands) $ 113 $ 394 $ 786 $ 828 Average price per share $ 90.86 $ 83.56 $ 87.34 $ 84.11 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 June 29, 2024, $161.3 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 Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Shares repurchased and canceled 272,145 — 582,318 — Total cost of shares repurchased and canceled (in thousands) $ 24,891 $ — $ 51,354 $ — Average price per share $ 91.46 $ — $ 88.19 $ —

Income Taxes

Income Taxes	6 Months Ended
	Jun. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 29, 2024
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Prior to December 1, 2023, we leased our Colmar, PA facility from an entity in which Steven Berman, our Non-Executive Chairman, and certain of his family members are owners. On December 1, 2023, the Colmar facility was sold to a third party, subject to our lease. We also lease a portion of our Lewisberry, PA facility from an entity in which Mr. Berman, and certain of his family members are owners. The Colmar lease was, and the Lewisberry lease is, a non-cancelable operating lease. The Lewisberry lease expires December 31, 2027. We also lease our facilities in Madison, IN and Shreveport, LA, from entities in which Lindsay Hunt, our President, Specialty Vehicle, and certain of her family members are owners. Each lease is a non-cancelable operating lease, was renewed in October 2022 in connection with the acquisition of SuperATV, LLC, a leading supplier to the powersports aftermarket ("SuperATV"), and will expire on October 31, 2027. We have service agreements with counterparties that are majority-owned by a family member of Ms. Hunt. These agreements provide for various warehouse and facility-related services at agreed-upon rates. The following table represents the estimated payments for the year ending December 31, 2024 and actual payments for the year ended December 31, 2023 under the related party agreements described above: Year Ending Year Ended (in thousands) December 31, 2024 December 31, 2023 Facility leases with Steven Berman related entities $ 715 $ 2,918 Facility leases with Lindsay Hunt related entities $ 2,757 $ 2,603 Service agreements with Lindsay Hunt related entities $ 54 $ 200

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 29, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures The 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).

New and Recently Adopted Accoun

New and Recently Adopted Accounting Pronouncements	6 Months Ended
	Jun. 29, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New and Recently Adopted Accounting Pronouncements	New and Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures. The ASU requires additional disclosures about reportable segments’ significant expenses on an interim and annual basis. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. The ASU expands disclosures in the income tax rate reconciliations table and cash taxes paid and is effective for annual periods beginning after December 15, 2024. We expect to implement these new standards by their effective dates, and do not expect their adoption to have an impact on our results of operations, financial condition or cash flows.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net income	$ 47,410	$ 32,770	$ 80,238	$ 38,453

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 29, 2024 shares	Jun. 29, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 14, 2024, Mr. Steven L. Berman, Non-Executive Chairman of our Board of Directors, adopted a Rule 10b5-1 plan (“Rule 10b5-1 Plan”) intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The Rule 10b5-1 Plan covers shares of the Company’s common stock owned (i) directly by Mr. Berman, (ii) by certain family trusts for which Mr. Berman serves as co-trustee, and (iii) by certain family trusts for the benefit of Mr. Berman’s children. Among other things, the Rule 10b5-1 Plan provides for the sale of up to 175,000 shares of the Company's common stock held directly by Mr. Berman and up to 225,000 shares of the Company’s common stock held by such trusts. The Rule 10b5-1 Plan expires on September 15, 2025, or upon the earlier completion of all authorized transactions under such Rule 10b5-1 Plan.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Steven L. Berman [Member]
Trading Arrangements, by Individual
Name	Steven L. Berman
Title	Non-Executive Chairman of our Board of Directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 14, 2024
Arrangement Duration		458 days
Steven L. Berman Trading Arrangement, Common Stock [Member] | Steven L. Berman [Member]
Trading Arrangements, by Individual
Aggregate Available	175,000	175,000
Steven L. Berman Trading Arrangement, Common Stock Held By Trust [Member] | Steven L. Berman [Member]
Trading Arrangements, by Individual
Aggregate Available	225,000	225,000

New and Recently Adopted Acco_2

New and Recently Adopted Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 29, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New and Recently Adopted Accounting Pronouncements	New and Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures. The ASU requires additional disclosures about reportable segments’ significant expenses on an interim and annual basis. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. The ASU expands disclosures in the income tax rate reconciliations table and cash taxes paid and is effective for annual periods beginning after December 15, 2024. We expect to implement these new standards by their effective dates, and do not expect their adoption to have an impact on our results of operations, financial condition or cash flows.

Sale of Accounts Receivable (Ta

Sale of Accounts Receivable (Tables)	6 Months Ended
	Jun. 29, 2024
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 Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Sales of accounts receivable $ 251,538 $ 241,937 $ 536,756 $ 479,677 Factoring costs 12,622 11,895 26,232 25,419

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 29, 2024
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) June 29, 2024 December 31, 2023 Raw materials $ 29,614 $ 29,750 Bulk product 192,151 211,805 Finished product 389,412 387,668 Packaging materials 9,194 8,152 Total $ 620,371 $ 637,375

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill included the following: (in thousands) Light Duty Heavy Duty Specialty Vehicle Consolidated Balance at December 31, 2023 $ 313,704 $ 57,876 $ 72,309 $ 443,889 Foreign currency translation — (869) — (869) Balance at June 29, 2024 $ 313,704 $ 57,007 $ 72,309 $ 443,020
Schedule of Intangible Assets	Intangible assets included the following: June 29, 2024 December 31, 2023 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 $ 37,186 $ 138,244 $ 175,430 $ 31,678 $ 143,752 Trade names 67,690 12,797 54,893 67,690 10,676 57,014 Product portfolio 107,800 13,051 94,749 107,800 9,720 98,080 Technology 2,167 1,191 976 2,167 1,069 1,098 Patents and other 2,230 815 1,415 2,230 618 1,612 Total $ 355,317 $ 65,040 $ 290,277 $ 355,317 $ 53,761 $ 301,556

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Segment results are as follows: For the Three Months Ended For the Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net Sales: Light Duty $ 385,358 $ 353,839 $ 744,651 $ 701,922 Heavy Duty 61,189 69,007 118,998 136,654 Specialty Vehicle 56,404 57,722 108,003 108,730 Total $ 502,951 $ 480,568 $ 971,652 $ 947,306 Segment profit: Light Duty $ 65,912 $ 41,013 $ 123,707 $ 62,460 Heavy Duty 2,721 3,386 2,730 8,734 Specialty Vehicle 10,030 9,705 17,199 16,785 Total $ 78,663 $ 54,104 $ 143,636 $ 87,979
Reconciliation of Operating Income from Segments to Consolidated	A reconciliation of segment profit to income before income taxes is as follows: For the Three Months Ended For the Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Segment profit $ 78,663 $ 54,104 $ 143,636 $ 87,979 Acquisition-related intangible assets amortization (5,481) (5,418) (10,965) (10,851) Acquisition-related transaction and other costs (448) (5,866) (931) (14,415) Executive transition services expenses — (22) — — Pretax reduction in workforce costs (282) — (4,850) (1,801) Fair value adjustment to contingent consideration — 12,400 — 12,400 Interest expense, net (10,202) (12,565) (20,807) (24,518) Other income (expense), net 136 396 96 753 Income before income taxes $ 62,386 $ 43,029 $ 106,179 $ 49,547
Summary of Disaggregated Revenue	The following table presents our net sales by geographic region: Three Months Ended Six Months Ended (in thousands) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales to U.S. customers $ 462,514 $ 438,300 $ 891,369 $ 868,993 Net sales to non-U.S. customers 40,437 42,268 80,283 78,313 Total $ 502,951 $ 480,568 $ 971,652 $ 947,306

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 29, 2024
Share-Based Payment Arrangement [Abstract]
Summary of RSA and RSU Activity	The following table summarizes our RSA and RSU activity for the six months ended June 29, 2024: Shares Weighted Balance at December 31, 2023 257,554 $ 97.33 Granted 184,007 $ 98.95 Vested (55,401) $ 88.63 Canceled (27,523) $ 112.99 Balance at June 29, 2024 358,637 $ 98.30
Summary of Stock Option Activity	The following table summarizes our stock option activity for the six months ended June 29, 2024 : Shares Weighted Weighted Aggregate Balance at December 31, 2023 311,217 $ 86.52 Canceled (6,416) $ 94.50 Exercised (10,311) $ 63.73 Balance at June 29, 2024 294,490 $ 87.14 4.9 $ 2,192 Exercisable at June 29, 2024 192,637 $ 83.34 4.3 $ 2,160

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 29, 2024
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 Six Months Ended (in thousands, except per share data) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net income $ 47,410 $ 32,770 $ 80,238 $ 38,453 Denominator: Weighted average basic shares outstanding 30,957 31,466 31,048 31,451 Effect of stock-based compensation awards 114 62 112 82 Weighted average diluted shares outstanding 31,071 31,528 31,160 31,533 Earnings Per Share: Basic $ 1.53 $ 1.04 $ 2.58 $ 1.22 Diluted $ 1.53 $ 1.04 $ 2.58 $ 1.22

Common Stock Repurchases (Table

Common Stock Repurchases (Tables)	6 Months Ended
	Jun. 29, 2024
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 Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Shares repurchased and canceled 1,245 4,715 9,004 9,840 Total cost of shares repurchased and canceled (in thousands) $ 113 $ 394 $ 786 $ 828 Average price per share $ 90.86 $ 83.56 $ 87.34 $ 84.11 The following table summarizes the repurchase and cancellation of common stock under the share repurchase program: Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Shares repurchased and canceled 272,145 — 582,318 — Total cost of shares repurchased and canceled (in thousands) $ 24,891 $ — $ 51,354 $ — Average price per share $ 91.46 $ — $ 88.19 $ —

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	6 Months Ended
	Jun. 29, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Agreements	The following table represents the estimated payments for the year ending December 31, 2024 and actual payments for the year ended December 31, 2023 under the related party agreements described above: Year Ending Year Ended (in thousands) December 31, 2024 December 31, 2023 Facility leases with Steven Berman related entities $ 715 $ 2,918 Facility leases with Lindsay Hunt related entities $ 2,757 $ 2,603 Service agreements with Lindsay Hunt related entities $ 54 $ 200

Sales of Accounts Receivable -

Sales of Accounts Receivable - Summary of Sale of Accounts Receivable (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Sale of Accounts Receivable [Line Items]
Sales of accounts receivable	$ 251,538	$ 241,937	$ 536,756	$ 479,677
Factoring costs	126,949	108,308	253,957	234,671
Accounts Receivable Sales Programs
Sale of Accounts Receivable [Line Items]
Factoring costs	$ 12,622	$ 11,895	$ 26,232	$ 25,419

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 29,614	$ 29,750
Bulk product	192,151	211,805
Finished product	389,412	387,668
Packaging materials	9,194	8,152
Total	$ 620,371	$ 637,375

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Detail) $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 443,889
Foreign currency translation	(869)
Balance at end of period	443,020
Light Duty
Goodwill [Roll Forward]
Balance at beginning of period	313,704
Foreign currency translation	0
Balance at end of period	313,704
Heavy Duty
Goodwill [Roll Forward]
Balance at beginning of period	57,876
Foreign currency translation	(869)
Balance at end of period	57,007
Specialty Vehicle
Goodwill [Roll Forward]
Balance at beginning of period	72,309
Foreign currency translation	0
Balance at end of period	$ 72,309

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 355,317	$ 355,317
Accumulated Amortization	65,040	53,761
Net Carrying Value	290,277	301,556
Customer relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	175,430	175,430
Accumulated Amortization	37,186	31,678
Net Carrying Value	138,244	143,752
Trade names
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	67,690	67,690
Accumulated Amortization	12,797	10,676
Net Carrying Value	54,893	57,014
Product portfolio
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	107,800	107,800
Accumulated Amortization	13,051	9,720
Net Carrying Value	94,749	98,080
Technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	2,167	2,167
Accumulated Amortization	1,191	1,069
Net Carrying Value	976	1,098
Patents and other
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	2,230	2,230
Accumulated Amortization	815	618
Net Carrying Value	$ 1,415	$ 1,612

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 5.5	$ 5.5	$ 11.1	$ 11

Debt - Additional Information (

Debt - Additional Information (Detail)	Jun. 29, 2024	Dec. 31, 2023
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, outstanding borrowing interest rate	6.82%	6.96%

Segment and Geographic Inform_3

Segment and Geographic Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Net Sales:	$ 502,951	$ 480,568	$ 971,652	$ 947,306
Segment profit:	72,452	55,198	126,890	73,312
Operating Segments
Segment Reporting Information [Line Items]
Net Sales:	502,951	480,568	971,652	947,306
Segment profit:	78,663	54,104	143,636	87,979
Light Duty | Operating Segments
Segment Reporting Information [Line Items]
Net Sales:	385,358	353,839	744,651	701,922
Segment profit:	65,912	41,013	123,707	62,460
Heavy Duty | Operating Segments
Segment Reporting Information [Line Items]
Net Sales:	61,189	69,007	118,998	136,654
Segment profit:	2,721	3,386	2,730	8,734
Specialty Vehicle | Operating Segments
Segment Reporting Information [Line Items]
Net Sales:	56,404	57,722	108,003	108,730
Segment profit:	$ 10,030	$ 9,705	$ 17,199	$ 16,785

Segment and Geographic Inform_4

Segment and Geographic Information - Reconciliation of Operating Income from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Segment profit	$ 72,452	$ 55,198	$ 126,890	$ 73,312
Acquisition-related intangible assets amortization	(5,500)	(5,500)	(11,100)	(11,000)
Interest expense, net	(10,202)	(12,565)	(20,807)	(24,518)
Other income (expense), net	136	396	96	753
Income before income taxes	62,386	43,029	106,179	49,547
Operating Segments
Segment Reporting Information [Line Items]
Segment profit	78,663	54,104	143,636	87,979
Segment Reconciling Items
Segment Reporting Information [Line Items]
Acquisition-related intangible assets amortization	(5,481)	(5,418)	(10,965)	(10,851)
Acquisition-related transaction and other costs	(448)	(5,866)	(931)	(14,415)
Executive transition services expenses	0	(22)	0	0
Pretax reduction in workforce costs	(282)	0	(4,850)	(1,801)
Fair value adjustment to contingent consideration	0	12,400	0	12,400
Interest expense, net	(10,202)	(12,565)	(20,807)	(24,518)
Other income (expense), net	$ 136	$ 396	$ 96	$ 753

Segment and Geographic Inform_5

Segment and Geographic Information - Summary of Disaggregated Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 502,951	$ 480,568	$ 971,652	$ 947,306
Net sales to U.S. customers
Disaggregation of Revenue [Line Items]
Net sales	462,514	438,300	891,369	868,993
Net sales to non-U.S. customers
Disaggregation of Revenue [Line Items]
Net sales	$ 40,437	$ 42,268	$ 80,283	$ 78,313

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 29, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Maximum contingency payable	$ 102

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term			3 years
Granted (in shares)			184,007
Weighted-average grant-date fair value (in dollars per share)			$ 98.95
Compensation cost related to stock options	$ 0.4	$ 0.6	$ 0.8	$ 1
Number of common stock shares purchased (in shares)	13,555	14,975	13,555	14,975
RSAs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term			3 years
RSA and RSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation cost related to restricted stock	$ 3.2	$ 2.6	$ 5.7	$ 4.3
Unrecognized compensation cost related to non-vested restricted stock	24.8		$ 24.8
Unrecognized compensation cost related to non-vested restricted stock, weighted-average period			2 years 3 months 18 days
Performance-Based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)			32,109	29,399
Weighted-average grant-date fair value (in dollars per share)			$ 138.58	$ 113.15
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	$ 2.9		$ 2.9
Unrecognized compensation cost related to non-vested restricted stock, weighted-average period			2 years 2 months 12 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of RSA and RSU Activity (Detail)	6 Months Ended
	Jun. 29, 2024 $ / shares shares
Shares
Beginning balance (in shares) | shares	257,554
Granted (in shares) | shares	184,007
Vested (in shares) | shares	(55,401)
Canceled (in shares) | shares	(27,523)
Ending balance (in shares) | shares	358,637
Weighted Average Fair Value
Beginning balance, weighted average fair value (in dollars per share) | $ / shares	$ 97.33
Granted (in dollars per share) | $ / shares	98.95
Vested (in dollars per share) | $ / shares	88.63
Canceled (in dollars per share) | $ / shares	112.99
Ending balance, weighted average fair value (in dollars per share) | $ / shares	$ 98.30

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($) $ / shares shares
Shares
Beginning balance (in shares) | shares	311,217
Canceled (in shares) | shares	(6,416)
Exercised (in shares) | shares	(10,311)
Ending balance (in shares) | shares	294,490
Exercisable (in shares) | shares	192,637
Weighted Average Price
Beginning balance, weighted average exercise price (in dollars per share) | $ / shares	$ 86.52
Canceled (in dollars per share) | $ / shares	94.50
Exercised (in dollars per share) | $ / shares	63.73
Ending balance, weighted average exercise price (in dollars per share) | $ / shares	87.14
Exercisable (in dollars per share) | $ / shares	$ 83.34
Weighted average remaining term	4 years 10 months 24 days
Weighted average remaining term, exercisable	4 years 3 months 18 days
Aggregate intrinsic value | $	$ 2,192
Aggregate intrinsic value, exercisable | $	$ 2,160

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Stock-based awards considered as anti-dilutive	225,000	353,000	272,000	295,000

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		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Net income	$ 47,410	$ 32,770	$ 80,238	$ 38,453
Denominator:
Weighted average basic shares outstanding (in shares)	30,957	31,466	31,048	31,451
Effect of stock-based compensation awards (in shares)	114	62	112	82
Weighted average diluted shares outstanding (in shares)	31,071	31,528	31,160	31,533
Earnings Per Share:
Earning per share, basic (in dollars per share)	$ 1.53	$ 1.04	$ 2.58	$ 1.22
Earning per share, diluted (in dollars per share)	$ 1.53	$ 1.04	$ 2.58	$ 1.22

Common Stock Repurchases - Summ

Common Stock Repurchases - Summary of Shares Repurchase and Cancellation (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Common Stock Repurchases
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased and canceled (in shares)	1,245	4,715	9,004	9,840
Total cost of shares repurchased and canceled	$ 113	$ 394	$ 786	$ 828
Average price per share (in dollars per share)	$ 90.86	$ 83.56	$ 87.34	$ 84.11
Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased and canceled (in shares)	272,145	0	582,318	0
Total cost of shares repurchased and canceled	$ 24,891	$ 0	$ 51,354	$ 0
Average price per share (in dollars per share)	$ 91.46	$ 0	$ 88.19	$ 0

Common Stock Repurchases - Addi

Common Stock Repurchases - Additional Information (Detail) - Share Repurchase Program	Jun. 29, 2024 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	$ 161,300,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	Jun. 29, 2024 USD ($)
Income Tax Disclosure [Abstract]
Net unrecognized tax benefits	$ 4.7
Unrecognized tax benefits which could lower tax rate	$ 4.4

Related-Party Transactions - Sc

Related-Party Transactions - Schedule of Related Party Agreements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Steven Berman
Related Party Transaction [Line Items]
Related party agreements		$ 2,918
Steven Berman | Scenario, Forecast
Related Party Transaction [Line Items]
Related party agreements	$ 715
Lindsay Hunt
Related Party Transaction [Line Items]
Related party agreements		2,603
Lindsay Hunt | Scenario, Forecast
Related Party Transaction [Line Items]
Related party agreements	2,757
Lindsay Hunt | Service Agreements
Related Party Transaction [Line Items]
Related party agreements		$ 200
Lindsay Hunt | Service Agreements | Scenario, Forecast
Related Party Transaction [Line Items]
Related party agreements	$ 54

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - Related Party	6 Months Ended
	Jun. 29, 2024 Investment Supplier
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