Masonite International (DOOR) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Apr. 04, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 4, 2021
Document Transition Report	false
Entity File Number	001-11796
Entity Registrant Name	Masonite International Corporation
Entity Tax Identification Number	98-0377314
Entity Address, Address Line One	2771 Rutherford Road
Entity Address, City or Town	Concord
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	L4K 2N6
Entity Address, Country	CA
City Area Code	800
Local Phone Number	895-2723
Title of 12(b) Security	Common Stock (no par value)
Trading Symbol	DOOR
Security Exchange Name	NYSE
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		24,500,806
Entity Central Index Key	0000893691
Current Fiscal Year End Date	--01-02
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	A1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Net sales	$ 646,337	$ 551,228
Cost of goods sold	487,699	416,947
Gross profit	158,638	134,281
Selling, general and administration expenses	83,631	80,333
Restructuring costs	1,643	1,941
Operating income	73,364	52,007
Interest expense, net	11,946	11,282
Other (income) expense, net	(1,343)	49
Income before income tax expense	62,761	40,676
Income tax expense	14,613	9,639
Net income	48,148	31,037
Less: net income attributable to non-controlling interests	1,167	1,152
Net income attributable to Masonite	$ 46,981	$ 29,885
Basic earnings per common share attributable to Masonite (in dollars per share)	$ 1.92	$ 1.20
Diluted earnings per common share attributable to Masonite (in dollars per share)	$ 1.89	$ 1.19
Other comprehensive income (loss):
Net income	$ 48,148	$ 31,037
Foreign currency translation gain (loss)	2,228	(38,687)
Amortization of actuarial net losses	334	173
Income tax expense related to other comprehensive income (loss)	(54)	(89)
Other comprehensive income (loss), net of tax	2,508	(38,603)
Comprehensive income (loss)	50,656	(7,566)
Less: comprehensive income attributable to non-controlling interests	1,338	573
Comprehensive income (loss) attributable to Masonite	$ 49,318	$ (8,139)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Current assets:
Cash and cash equivalents	$ 323,198	$ 364,674
Restricted cash	10,560	10,560
Accounts receivable, net	365,396	290,508
Inventories, net	267,230	260,962
Prepaid expenses and other assets	37,497	42,538
Income taxes receivable	5,498	1,124
Total current assets	1,009,379	970,366
Property, plant and equipment, net	616,872	625,126
Operating lease right-of-use assets	152,881	146,806
Investment in equity investees	14,923	14,636
Goodwill	139,728	138,692
Intangible assets, net	165,620	169,392
Deferred income taxes	20,448	25,331
Other assets	50,801	47,411
Total assets	2,170,652	2,137,760
Current liabilities:
Accounts payable	114,259	97,211
Accrued expenses	250,058	277,716
Income taxes payable	4,395	11,086
Total current liabilities	368,712	386,013
Long-term debt	791,628	792,242
Long-term operating lease liabilities	140,642	136,235
Deferred income taxes	77,967	73,073
Other liabilities	54,550	55,080
Total liabilities	1,433,499	1,442,643
Commitments and Contingencies (Note 7)
Equity:
Share capital: unlimited shares authorized, no par value, 24,500,706 and 24,422,934 shares issued and outstanding as of April 4, 2021, and January 3, 2021, respectively	561,776	552,969
Additional paid-in capital	214,689	223,666
Accumulated earnings	59,712	20,385
Accumulated other comprehensive loss	(109,726)	(112,063)
Total equity attributable to Masonite	726,451	684,957
Equity attributable to non-controlling interests	10,702	10,160
Total equity	737,153	695,117
Total liabilities and equity	$ 2,170,652	$ 2,137,760

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - shares	Apr. 04, 2021	Jan. 03, 2021
Statement of Financial Position [Abstract]
Shares issued	24,500,706	24,422,934
Shares outstanding	24,500,706	24,422,934

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Equity Attributable to Noncontrolling Interests
Opening Balance, Value at Dec. 29, 2019	$ 636,862	$ 558,514	$ 216,584	$ (20,047)	$ (130,169)	$ 11,980
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Value		5,490	(5,490)
Common shares issued under employee stock purchase plan, value		708	(311)
Common shares repurchased and retired, Value		(12,729)		(22,041)
Share based compensation expense			3,470
Common shares withheld to cover income taxes payable due to delivery of share based awards			(1,427)
Net income	31,037			29,885		1,152
Other comprehensive income (loss), net of tax	(38,603)				(38,024)	(579)
Dividends to noncontrolling interests						(710)
Ending Balance, Value at Mar. 29, 2020	596,256	$ 551,983	212,826	(12,203)	(168,193)	11,843
Opening Balance, Shares at Dec. 29, 2019		24,869,921
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Shares		134,911
Common shares issued under employee stock purchase plan		9,426
Common shares repurchased and retired, Shares		(567,271)
Ending Balance, Shares at Mar. 29, 2020		24,446,987
Opening Balance, Value at Jan. 03, 2021	695,117	$ 552,969	223,666	20,385	(112,063)	10,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Value		9,931	(9,931)
Common shares issued under employee stock purchase plan, value		824	(183)
Common shares repurchased and retired, Value		(1,948)		(7,654)
Share based compensation expense			4,418
Common shares withheld to cover income taxes payable due to delivery of share based awards			(3,281)
Net income	48,148			46,981		1,167
Other comprehensive income (loss), net of tax	2,508				2,337	171
Dividends to noncontrolling interests						(796)
Ending Balance, Value at Apr. 04, 2021	$ 737,153	$ 561,776	$ 214,689	$ 59,712	$ (109,726)	$ 10,702
Opening Balance, Shares at Jan. 03, 2021	24,422,934	24,422,934
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards, Shares		154,458
Common shares issued under employee stock purchase plan		8,297
Common shares repurchased and retired, Shares		(84,983)
Ending Balance, Shares at Apr. 04, 2021	24,500,706	24,500,706

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Cash flows from operating activities:
Net income	$ 48,148	$ 31,037
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation	18,279	16,018
Amortization	4,918	6,459
Share based compensation expense	4,418	3,470
Deferred income taxes	10,143	6,160
Unrealized foreign exchange (gain) loss	(253)	94
Share of income from equity investees, net of tax	(287)	(911)
Pension and post-retirement funding, net of expense	(1,631)	(1,900)
Non-cash accruals and interest	421	427
(Gain) loss on sale of property, plant and equipment	(597)	1,622
Accounts receivable	(74,132)	(37,990)
Inventories	(5,681)	(5,388)
Prepaid expenses and other assets	5,130	(491)
Accounts payable and accrued expenses	(9,838)	(15,163)
Other assets and liabilities	(13,363)	2,602
Net cash flow (used in) provided by operating activities	(14,325)	6,046
Cash flows from investing activities:
Additions to property, plant and equipment	(13,930)	(17,246)
Acquisition of businesses, net of cash acquired	(160)	0
Proceeds from sale of property, plant and equipment	2,335	15
Other investing activities	(559)	(587)
Net cash flow used in investing activities	(12,314)	(17,818)
Cash flows from financing activities:
Repayments of long-term debt	(945)	(57)
Tax witholding on share based awards	(3,281)	(1,427)
Distributions to non-controlling interests	(796)	(710)
Repurchases of common shares	(9,602)	(34,770)
Net cash flow used in financing activities	(14,624)	(36,964)
Net foreign currency translation adjustment on cash	(213)	(3,853)
Increase (decrease) in cash, cash equivalents and restricted cash	(41,476)	(52,589)
Cash, cash equivalents and restricted cash, beginning of period	375,234	177,608
Cash, cash equivalents and restricted cash, at end of period	$ 333,758	$ 125,019

Business Overview and Significa

Business Overview and Significant Accounting Policies	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
Business Overview and Significant Accounting Policies	Business Overview and Significant Accounting Policies Unless we state otherwise or the context otherwise requires, references to "Masonite," "we," "our," "us" and the "Company" in these notes to the condensed consolidated financial statements refer to Masonite International Corporation and its subsidiaries. Description of Business Masonite International Corporation is one of the largest manufacturers of doors in the world, with significant market share in both interior and exterior door products. Masonite operates 61 manufacturing and distribution facilities in eight countries and sells doors to customers throughout the world with our largest markets being the United States, Canada and the United Kingdom. Basis of Presentation We prepare these unaudited condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP") and applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by GAAP for annual financial statements. In the opinion of management, all adjustments consisting of normal and recurring entries considered necessary for a fair presentation of the results for the interim periods presented have been included. All significant intercompany balances and transactions have been eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts in the financial statements and accompanying notes. These estimates are based on information available as of the date of the unaudited condensed consolidated financial statements; therefore, actual results could differ from those estimates. Interim results are not necessarily indicative of the results for a full year. These unaudited condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, as filed with the SEC. Our fiscal year is the 52- or 53-week period ending on the Sunday closest to December 31. In a 52-week year, each fiscal quarter consists of 13 weeks. For ease of disclosure, the 13-week periods are referred to as three-month periods and the 52- or 53-week periods are referred to as year. Changes in Accounting Standards and Policies There have been no changes in the significant accounting policies from those that were disclosed in the fiscal year 2020 audited consolidated financial statements, other than as noted below. Adoption of Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes," as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. This standard removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. We have adopted the new guidance prospectively as of January 4, 2021, the beginning of fiscal year 2021, and the adoption did not have a material impact on our financial statements. In August 2018, the FASB issued ASU 2018-14, "Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans," which amended ASC 715, "Compensation—Retirement Benefits." This standard is applicable for employers that sponsor defined benefit pension or other postretirement plans, and eliminates disclosures no longer considered cost beneficial, clarifies specific disclosure requirements for entities that provide aggregate disclosures for two or more plans and adds requirements for explanations for significant gains and losses related to changes in benefit obligations. We adopted the new guidance using a retrospective approach as of January 3, 2021, the end of fiscal year 2020, and the adoption did not have a material impact on our financial statements or disclosures.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Apr. 04, 2021
Business Combinations [Abstract]
Acquisitions and Disposition	Acquisitions and Divestitures Acquisitions On December 4, 2020, we completed the acquisition of a Lowe's Companies, Inc. door fabrication facility in the United States for cash consideration of $3.9 million. During the first quarter of 2021, as a result of working capital adjustments we paid an additional $0.2 million. The purchase price allocation, net sales, net income (loss) attributable to Masonite and pro forma information for the acquisition are not presented as they were not material for any period presented. On August 31, 2020, we acquired intellectual property and other assets related to an interior door technology for cash consideration of $1.9 million. The purchase price allocation, net sales, net income (loss) attributable to Masonite and pro forma information for the acquisition are not presented as they were not material for any period presented. Divestitures During the second quarter of 2020, we completed the liquidation of our legal entity in India. As a result, we recognized $2.1 million in loss on disposal of subsidiaries. The total charge consists of $2.3 million relating to the recognition of cumulative translation adjustment out of accumulated other comprehensive loss and $0.2 million relating to the write-off of net assets and other professional fees.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Apr. 04, 2021
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Our customers consist mainly of retailers, distributors and contractors. Our ten largest customers accounted for 61.3% and 53.1% of total accounts receivable as of April 4, 2021, and January 3, 2021, respectively. Our largest customer, The Home Depot, Inc., accounted for more than 10% of the consolidated gross accounts receivable balance as of April 4, 2021 and January 3, 2021. In addition, we had one other retail customer that accounted for more than 10% of the consolidated gross accounts receivable balance as of April 4, 2021. The allowance for doubtful accounts balance was $2.6 million and $2.8 million as of April 4, 2021, and January 3, 2021, respectively.We maintain an accounts receivable sales program with a third party (the "AR Sales Program"). Under the AR Sales Program, we can transfer ownership of eligible trade accounts receivable of certain customers. Receivables are sold outright to a third party who assumes the full risk of collection, without recourse to us in the event of a loss. Transfers of receivables under this program are accounted for as sales. Proceeds from the transfers reflect the face value of the accounts receivable less a discount. Receivables sold under the AR Sales Program are excluded from trade accounts receivable in the condensed consolidated balance sheets and are included in cash flows from operating activities in the condensed consolidated statements of cash flows. The discounts on the sales of trade accounts receivable sold, if any, under the AR Sales Program were not material for any of the periods presented and were recorded in selling, general and administration expenses within the condensed consolidated statements of comprehensive income (loss).

Inventories

Inventories	3 Months Ended
	Apr. 04, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories The amounts of inventory on hand were as follows as of the dates indicated: (In thousands) April 4, 2021 January 3, 2021 Raw materials $ 195,119 $ 191,784 Finished goods 78,795 75,483 Provision for obsolete or aged inventory (6,684) (6,305) Inventories, net $ 267,230 $ 260,962

Accrued Expenses

Accrued Expenses	3 Months Ended
	Apr. 04, 2021
Accrued Expenses [Abstract]
Accrued expenses	Accrued Expenses The details of our accrued expenses were as follows as of the dates indicated: (In thousands) April 4, 2021 January 3, 2021 Accrued payroll $ 58,604 $ 86,517 Accrued rebates 54,384 49,531 Current portion of operating lease liabilities 24,876 22,667 Accrued interest 5,410 16,435 Accrued legal settlement 40,000 40,000 Other accruals 66,784 62,566 Total accrued expenses $ 250,058 $ 277,716

Long-Term Debt

Long-Term Debt	3 Months Ended
	Apr. 04, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt (In thousands) April 4, 2021 January 3, 2021 5.375% senior unsecured notes due 2028 $ 500,000 $ 500,000 5.750% senior unsecured notes due 2026 300,000 300,000 Debt issuance costs (8,372) (8,694) Other long-term debt — 936 Total long-term debt $ 791,628 $ 792,242 Interest expense related to our consolidated indebtedness under senior unsecured notes was $11.4 million and $11.3 million for the three months ended April 4, 2021 and March 29, 2020, respectively. 5.375% Senior Notes due 2028 On July 25, 2019, we issued $500.0 million aggregate principal senior unsecured notes (the "2028 Notes"). The 2028 Notes bear interest at 5.375%, payable in cash semiannually in arrears on February 1 and August 1 of each year and are due February 1, 2028. The 2028 Notes were issued at par. Information concerning obligations under the 2028 Notes and the indenture governing them are described in detail in our Annual Report on Form 10-K for the year ended January 3, 2021. As of April 4, 2021, we were in compliance with all covenants under the indenture governing the 2028 Notes. 5.750% Senior Notes due 2026 On August 27, 2018, we issued $300.0 million aggregate principal senior unsecured notes (the "2026 Notes"). The 2026 Notes bear interest at 5.750% per annum, payable in cash semiannually in arrears on March 15 and September 15 of each year and are due September 15, 2026. The 2026 Notes were issued at par. Information concerning obligations under the 2026 Notes and the indenture governing them are described in detail in our Annual Report on Form 10-K for the year ended January 3, 2021. As of April 4, 2021, we were in compliance with all covenants under the indenture governing the 2026 Notes. ABL Facility On January 31, 2019, we and certain of our subsidiaries entered into a $250.0 million asset-based revolving credit facility (the "ABL Facility") maturing on January 31, 2024, which replaced the previous facility. Borrowings under the ABL Facility bear interest at a rate equal to, at our option, (i) the United States, Canadian or United Kingdom Base Rate (each as defined in the credit agreement relating to the ABL Facility, the "Amended and Restated Credit Agreement") plus a margin ranging from 0.25% to 0.50% per annum, or (ii) the Adjusted LIBO Rate or BA Rate (each as defined in the Amended and Restated Credit Agreement), plus a margin ranging from 1.25% to 1.50% per annum. In addition to paying interest on any outstanding principal under the ABL Facility, a commitment fee is payable on the undrawn portion of the ABL Facility in an amount equal to 0.25% per annum of the average daily balance of unused commitments during each calendar quarter. The ABL Facility contains various customary representations, warranties by us and covenants that are described in detail in our Annual Report on Form 10-K for the year ended January 3, 2021. As of April 4, 2021, we were in compliance with all covenants under the credit agreement governing the ABL Facility. We had availability of $220.5 million under our ABL Facility and there were no amounts outstanding as of April 4, 2021.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The following discussion describes material developments in previously disclosed legal proceedings that occurred since January 3, 2021. Refer to Note 10. Commitments and Contingencies in the consolidated financial statements in our Annual Report on Form 10-K for the year ended January 3, 2021, for a full description of the previously disclosed legal proceedings. Indemnifications We have provided customary indemnifications to our landlords under certain property lease agreements for claims by third parties in connection with their use of the premises. We also have provided routine indemnifications against adverse effects related to changes in tax laws and patent infringements by third parties. The maximum amount of these indemnifications cannot be reasonably estimated due to their nature. In some cases, we have recourse against other parties to mitigate the risk of loss from these indemnifications. Historically, we have not made any significant payments relating to such indemnifications. Antitrust Class Action Proceedings - United States With respect to the putative class action antitrust cases pending in the Eastern District of Virginia, the final Court approval hearing date for the direct purchaser settlement has been set for June 1, 2021, and the final approval hearing date for the indirect purchaser settlement has been set for July 13, 2021. Class Action Proceedings - Canada With respect to the putative class action antitrust case pending in Quebec, Canada, all parties in the Quebec proceeding filed a motion with the Quebec court seeking to stay the proceeding on December 22, 2020. The Quebec Court has not yet released its decision regarding this motion. With respect to the putative class action antitrust case pending in the Federal Court of Canada, the plaintiff served its certification record on March 31, 2021. The parties will confer to prepare a mutually agreeable timeline for the steps leading up to the plaintiff's certification motion and will update the Federal Court by way of a case conference on or before May 31, 2021. We have not recognized an expense related to damages in connection with this matter because, although an adverse outcome is reasonably possible, the amount or range of any potential loss cannot be reasonably estimated. While we intend to defend against these claims vigorously, there can be no assurance that the ultimate resolution of this litigation will not have a material, adverse effect on our consolidated financial condition or results of operations. General In addition to the above, from time to time, we are involved in various claims and legal actions, including but not limited to wage and hour and labor lawsuits. In the opinion of management, the ultimate disposition of these matters, individually and in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows.

Share Based Compensation Plans

Share Based Compensation Plans	3 Months Ended
	Apr. 04, 2021
Share-based Payment Arrangement [Abstract]
Share Based Compensation Plans	Share Based Compensation Plans Share based compensation expense was $4.4 million and $3.5 million for the three months ended April 4, 2021 and March 29, 2020, respectively. As of April 4, 2021, the total remaining unrecognized compensation expense related to share based compensation amounted to $29.6 million, which will be amortized over the weighted average remaining requisite service period of 1.9 years. Equity Incentive Plans Our equity incentive plans under the 2009 Plan and the 2012 Plan are described in detail and defined in our Annual Report on Form 10-K for the year ended January 3, 2021. The aggregate number of common shares that can be issued with respect to equity awards under the 2012 Plan cannot exceed 2,000,000 shares plus the number of shares subject to existing grants under the 2009 Plan that may expire or be forfeited or canceled. As of April 4, 2021, there were 614,231 shares of common stock available for future issuance under the 2012 Plan. On March 10, 2021, the Board of Directors adopted the Masonite International Corporation 2021 Omnibus Incentive Equity Plan (the "2021 Plan"), subject to approval by our shareholders at the Annual General Meeting of Shareholders on May 13, 2021. The 2021 Plan is effective for ten years from the date of adoption. The aggregate number of common shares that can be issued with respect to equity awards under the 2021 Plan cannot exceed 880,000 shares plus the number of shares reserved for the 2012 Plan that is in excess of the number of shares outstanding plus the number of shares subject to existing grants under the 2012 Plan that may expire or be forfeited or cancelled. Deferred Compensation Plan We offer to certain of our employees and directors a Deferred Compensation Plan, which is further described in our Annual Report on Form 10-K for the year ended January 3, 2021. As of April 4, 2021, the liability and asset relating to deferred compensation had a fair value of $8.0 million and $8.3 million, respectively. As of April 4, 2021, participation in the deferred compensation plan is limited and no restricted stock awards have been deferred into the deferred compensation plan. All plan investments are categorized as having Level 1 valuation inputs as established by the FASB’s Fair Value Framework. Stock Appreciation Rights We have granted Stock Appreciation Rights ("SARs") to certain employees under both the 2009 Plan and the 2012 Plan, which entitle the recipient to the appreciation in value of a number of common shares over the exercise price over a period of time, each as specified in the applicable award agreement. The exercise price of any SAR granted may not be less than the fair market value of our common shares on the date of grant. The compensation expense for the SARs is measured based on the fair value of the SARs at the date of grant and is recognized over the requisite service period. The SARs vest over a maximum of three years, have a life of ten years and settle in common shares. It is assumed that all time-based SARs will vest. We recognize forfeitures of SARs in the period in which they occur. The total fair value of SARs vested was $0.7 million during the three months ended April 4, 2021. Three Months Ended April 4, 2021 Stock Appreciation Rights Aggregate Intrinsic Value (in thousands) Weighted Average Exercise Price Average Remaining Contractual Life (Years) Outstanding, beginning of period 207,094 $ 7,409 $ 62.56 7.5 Granted 28,707 107.68 Exercised (11,240) 664 52.32 Outstanding, end of period 224,561 $ 11,469 $ 68.84 7.7 Exercisable, end of period 120,764 $ 6,978 $ 62.14 6.7 The value of SARs granted is determined using the Black-Scholes-Merton valuation model, and the corresponding expense is expected to be recognized over the average requisite service period of 2.0 years. Expected volatility is based upon the historical volatility of our common shares amongst other considerations. The expected term is calculated using the simplified method, due to insufficient exercise activity during recent years as a basis from which to estimate future exercise patterns. The weighted average grant date assumptions used for the SARs granted were as follows for the periods indicated: 2021 Grants SAR value (model conclusion) $ 28.08 Risk-free rate 0.8 % Expected dividend yield 0.0 % Expected volatility 25.2 % Expected term (years) 6.0 Restricted Stock Units We have granted Restricted Stock Units ("RSUs") to directors and certain employees under the 2012 Plan. The RSUs confer the right to receive shares of our common stock at a specified future date or when certain conditions are met. The compensation expense for the RSUs awarded is based on the fair value of the RSUs at the date of grant, which is equal to the stock price on the date of grant, and is recognized over the requisite service period. The RSUs vest over a maximum of three years and call for the underlying shares to be delivered no later than 30 days following the vesting date unless the participant is subject to a blackout period. In such case, the shares are to be delivered once the blackout restriction has been lifted. It is assumed that all time-based RSUs will vest. We recognize forfeitures of RSUs in the period in which they occur. Three Months Ended April 4, 2021 Total Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 488,057 $ 68.15 Granted 169,790 108.99 Performance adjustment (1) 14,474 63.05 Delivered (149,818) 67.62 Withheld to cover (2) (30,177) Forfeited (2,932) 70.47 Outstanding, end of period 489,394 $ 83.00 ____________ (1) Performance-based RSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. These awards are settled with payouts ranging from zero to 200% of the target award value depending on achievement. The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target. (2) A portion of the vested RSUs delivered were net share settled to cover statutory requirements for income and other employment taxes. We remit the equivalent cash to the appropriate taxing authorities. These net share settlements had the effect of share repurchases by us as we reduced and retired the number of shares that would have otherwise been issued as a result of the vesting. Approximately two-thirds of the RSUs granted during the three months ended April 4, 2021, vest at specified future dates with only service requirements, while the remaining portion of the RSUs vest based on both performance and service requirements. The value of RSUs granted in the three months ended April 4, 2021, is being recognized over the weighted average requisite service period of 2.4 years. During the three months ended April 4, 2021, there were 179,995 RSUs vested at a fair value of $11.9 million.

Restructuring Costs

Restructuring Costs	3 Months Ended
	Apr. 04, 2021
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs In November 2020, we began implementing a plan to improve overall business performance that includes the reorganization of our manufacturing capacity and a reduction of our overhead and selling, general and administration workforce primarily in our Architectural reportable segment as well as limited actions in the North American Residential reportable segment. The reorganization of our manufacturing capacity involves specific facilities in the Architectural segment and costs associated with the closure of these facilities and related headcount reductions began taking place in the fourth quarter of 2020 (collectively, the "2020 Plan"). Costs associated with the 2020 Plan include severance and closure charges and will continue through 2021. As of April 4, 2021, we expect to incur approximately $3 million to $4 million of additional charges related to the 2020 Plan. In February 2019, we began implementing a plan to improve overall business performance that includes the reorganization of our manufacturing capacity and a reduction of our overhead and selling, general and administration workforce across all of our reportable segments and in our head offices. The reorganization of our manufacturing capacity involves specific plants in the North American Residential and Architectural segments and costs associated with the closure of these plants and related headcount reductions began taking place in the first quarter of 2019 (collectively, the "2019 Plan"). Costs associated with the 2019 Plan include severance, retention and closure charges and will continue through 2021. As of April 4, 2021, we expect to incur approximately $1 million to $2 million of additional charges related to the 2019 Plan. During the fourth quarter of 2018, we began implementing a plan to reorganize and consolidate certain aspects of our United Kingdom head office function and optimize our portfolio by divesting non-core assets to enable more effective and consistent business processes in the Europe segment. In addition, in the North American Residential segment we announced a new facility that will optimize and expand capacity through increased automation, which resulted in the closure of one existing facility and related headcount reductions beginning in the second quarter of 2019 (collectively, the “2018 Plan”). Costs associated with the 2018 Plan included severance, retention and closure charges and continued throughout 2019. As of April 4, 2021, we do not expect to incur any material future charges related to the 2018 Plan. The following tables summarize the restructuring charges recorded for the periods indicated: Three Months Ended April 4, 2021 (In thousands) North American Residential Architectural Corporate & Other Total 2020 Plan $ — $ 1,514 $ — $ 1,514 2019 Plan (361) 339 151 129 Total Restructuring Costs $ (361) $ 1,853 $ 151 $ 1,643 Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 728 $ (37) $ 862 $ 267 $ 1,820 2018 Plan 121 — — — 121 Total Restructuring Costs $ 849 $ (37) $ 862 $ 267 $ 1,941 Cumulative Amount Incurred Through April 4, 2021 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2020 Plan $ 29 $ — $ 3,247 $ — $ 3,276 2019 Plan 8,961 359 2,010 2,218 13,548 2018 Plan 2,180 2,275 — — 4,455 Total Restructuring Costs $ 11,170 $ 2,634 $ 5,257 $ 2,218 $ 21,279 The changes in the accrual for restructuring by activity were as follows for the periods indicated: (In thousands) January 3, Severance Closure Costs Cash Payments April 4, 2020 Plan $ 1,492 $ 149 $ 1,365 $ (2,296) $ 710 2019 Plan 291 85 44 (294) 126 Total $ 1,783 $ 234 $ 1,409 $ (2,590) $ 836 (In thousands) December 29, Severance Closure Costs Cash Payments March 29, 2019 Plan $ 1,535 $ 187 $ 1,633 $ (2,769) $ 586 2018 Plan — 103 18 (121) — Total $ 1,535 $ 290 $ 1,651 $ (2,890) $ 586

Income Taxes

Income Taxes	3 Months Ended
	Apr. 04, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate differs from the Canadian statutory rate of 26.5% primarily due to mix of earnings in foreign jurisdictions that are subject to tax rates which differ from the Canadian statutory rate. In addition, we recognized $2.0 million of income tax benefit due to the exercise and delivery of share-based awards during the three months ended April 4, 2021, compared to $0.7 million of income tax benefit during the three months ended March 29, 2020.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 04, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share ("EPS") is calculated by dividing earnings attributable to Masonite by the weighted average number of our common shares outstanding during the period. Diluted EPS is calculated by dividing earnings attributable to Masonite by the weighted average number of common shares plus the incremental number of shares issuable from non-vested and vested RSUs and SARs outstanding during the period. (In thousands, except share and per share information) Three Months Ended April 4, 2021 March 29, 2020 Net income attributable to Masonite $ 46,981 $ 29,885 Shares used in computing basic earnings per share 24,469,653 24,861,442 Effect of dilutive securities: Incremental shares issuable under share compensation plans 448,856 353,322 Shares used in computing diluted earnings per share 24,918,509 25,214,764 Basic earnings per common share attributable to Masonite $ 1.92 $ 1.20 Diluted earnings per common share attributable to Masonite $ 1.89 $ 1.19 Anti-dilutive instruments excluded from diluted earnings per common share 28,707 258,773

Segment Information

Segment Information	3 Months Ended
	Apr. 04, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information Our reportable segments are organized and managed principally by end market: North American Residential, Europe and Architectural. The Corporate & Other category includes unallocated corporate costs and the results of immaterial operating segments which were not aggregated into any reportable segment. In addition to similar economic characteristics we also consider the following factors in determining the reportable segments: the nature of business activities, the management structure directly accountable to our chief operating decision maker for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors and investors. Our management reviews net sales and Adjusted EBITDA (as defined below) to evaluate segment performance and allocate resources. Net assets are not allocated to the reportable segments. Adjusted EBITDA is a non-GAAP financial measure which does not have a standardized meaning under GAAP and is unlikely to be comparable to similar measures used by other companies. Adjusted EBITDA should not be considered as an alternative to either net income or operating cash flows determined in accordance with GAAP. Adjusted EBITDA is defined as net income (loss) attributable to Masonite adjusted to exclude the following items: • depreciation; • amortization; • share based compensation expense; • loss (gain) on disposal of property, plant and equipment; • registration and listing fees; • restructuring costs; • asset impairment; • loss (gain) on disposal of subsidiaries; • interest expense (income), net; • loss on extinguishment of debt; • other expense (income), net; • income tax expense (benefit); • other items; • loss (income) from discontinued operations, net of tax; and • net income (loss) attributable to non-controlling interest. This definition of Adjusted EBITDA was updated in the third quarter of 2020 to exclude other items as these charges are not part of our underlying business performance. This change had no impact to Adjusted EBITDA for the three months ended March 29, 2020. This definition of Adjusted EBITDA differs from the definitions of EBITDA contained in the indentures governing the 2028 Notes and 2026 Notes and the credit agreement governing the ABL Facility. Although Adjusted EBITDA is not a measure of financial condition or performance determined in accordance with GAAP, it is used to evaluate and compare the operating performance of the segments and it is one of the primary measures used to determine employee incentive compensation. Intersegment sales are recorded using market prices. Certain information with respect to reportable segments is as follows for the periods indicated: Three Months Ended April 4, 2021 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 477,229 $ 90,206 $ 78,074 $ 6,343 $ 651,852 Intersegment sales (765) (1,667) (3,083) — (5,515) Net sales to external customers $ 476,464 $ 88,539 $ 74,991 $ 6,343 $ 646,337 Adjusted EBITDA $ 94,482 $ 16,755 $ 1,994 $ (11,206) $ 102,025 Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 384,445 $ 71,156 $ 94,555 $ 5,427 $ 555,583 Intersegment sales (588) (430) (3,337) — (4,355) Net sales to external customers $ 383,857 $ 70,726 $ 91,218 $ 5,427 $ 551,228 Adjusted EBITDA $ 71,696 $ 9,679 $ 10,582 $ (10,440) $ 81,517 A reconciliation of our net income attributable to Masonite to consolidated Adjusted EBITDA is set forth as follows for the periods indicated: Three Months Ended (In thousands) April 4, 2021 March 29, 2020 Net income attributable to Masonite $ 46,981 $ 29,885 Plus: Depreciation 18,279 16,018 Amortization 4,918 6,459 Share based compensation expense 4,418 3,470 (Gain) loss on disposal of property, plant and equipment (597) 1,622 Restructuring costs 1,643 1,941 Interest expense, net 11,946 11,282 Other (income) expense, net (1,343) 49 Income tax expense 14,613 9,639 Net income attributable to non-controlling interest 1,167 1,152 Adjusted EBITDA $ 102,025 $ 81,517

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)	3 Months Ended
	Apr. 04, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss) A rollforward of the components of accumulated other comprehensive loss is as follows for the periods indicated: Three Months Ended (In thousands) April 4, 2021 March 29, 2020 Accumulated foreign currency translation losses, beginning of period $ (93,684) $ (113,336) Foreign currency translation gain (loss) 2,228 (38,687) Income tax benefit (expense) on foreign currency translation gain (loss) 14 (44) Less: foreign currency translation gain (loss) attributable to non-controlling interest 171 (579) Accumulated foreign currency translation losses, end of period (91,613) (151,488) Accumulated pension and other post-retirement adjustments, beginning of period (18,379) (16,833) Amortization of actuarial net losses 334 173 Income tax expense on amortization of actuarial net losses (68) (45) Accumulated pension and other post-retirement adjustments (18,113) (16,705) Accumulated other comprehensive loss $ (109,726) $ (168,193) Other comprehensive income (loss), net of tax $ 2,508 $ (38,603) Less: other comprehensive income (loss) attributable to non-controlling interest 171 (579) Other comprehensive income (loss) attributable to Masonite $ 2,337 $ (38,024) Cumulative translation adjustments are reclassified out of accumulated other comprehensive loss into loss on disposal of subsidiaries in the condensed consolidated statements of comprehensive income (loss). Actuarial net losses are reclassified out of accumulated other comprehensive loss into cost of goods sold in the condensed consolidated statements of comprehensive income (loss). Foreign currency translation gains as a result of translating our foreign assets and liabilities into U.S. dollars during the three months ended April 4, 2021, were $2.2 million, primarily driven by strengthening of the Pound Sterling and the Canadian Dollar, partially offset by weakening of the Euro in comparison to the U.S. Dollar during the period.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Apr. 04, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Certain cash and non-cash transactions were as follows for the periods indicated: Three Months Ended (In thousands) April 4, 2021 March 29, 2020 Transactions involving cash: Interest paid $ 22,247 $ 22,662 Interest received 25 641 Income taxes paid 16,076 3,030 Income tax refunds 438 392 Cash paid for operating lease liabilities 7,345 6,835 Cash paid for finance lease liabilities 327 317 Non-cash transactions from operating activities: Right-of-use assets acquired under operating leases 4,662 3,863 The following reconciles total cash, cash equivalents and restricted cash as of the dates indicated: April 4, 2021 January 3, 2021 Cash and cash equivalents $ 323,198 $ 364,674 Restricted cash 10,560 10,560 Total cash, cash equivalents and restricted cash $ 333,758 $ 375,234 Property, plant and equipment additions in accounts payable were $2.7 million and $5.6 million as of April 4, 2021, and January 3, 2021, respectively.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Apr. 04, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of our cash and cash equivalents, restricted cash, accounts receivable, income taxes receivable, accounts payable, accrued expenses and income taxes payable approximate fair value because of the short-term maturity of those instruments. The estimated fair values and carrying values of our long-term debt instruments were as follows for the periods indicated: April 4, 2021 January 3, 2021 (In thousands) Fair Value Carrying Value Fair Value Carrying Value 5.375% senior unsecured notes due 2028 $ 530,575 $ 494,579 $ 535,580 $ 494,393 5.750% senior unsecured notes due 2026 $ 313,098 $ 297,049 $ 315,972 $ 296,913 These estimates are based on market quotes and calculations based on current market rates available to us and are categorized as having Level 2 valuation inputs as established by the FASB's Fair Value Framework. Market quotes used in these calculations are based on bid prices for our debt instruments and are obtained from and corroborated with multiple independent sources. The market quotes obtained from independent sources are within the range of management's expectations.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 04, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event In May 2021, we initiated further actions to improve overall business performance that includes the reorganization of our manufacturing capacity in our Architectural reportable segment. The reorganization of our manufacturing capacity involves specific facilities in the Architectural segment and costs associated with the reorganization of these facilities and related headcount reductions began taking place in the second quarter of 2021 (collectively, the "2021 Plan").

Business Overview and Signifi_2

Business Overview and Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 04, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements	Adoption of Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes," as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. This standard removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. We have adopted the new guidance prospectively as of January 4, 2021, the beginning of fiscal year 2021, and the adoption did not have a material impact on our financial statements. In August 2018, the FASB issued ASU 2018-14, "Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans," which amended ASC 715, "Compensation—Retirement Benefits." This standard is applicable for employers that sponsor defined benefit pension or other postretirement plans, and eliminates disclosures no longer considered cost beneficial, clarifies specific disclosure requirements for entities that provide aggregate disclosures for two or more plans and adds requirements for explanations for significant gains and losses related to changes in benefit obligations. We adopted the new guidance using a retrospective approach as of January 3, 2021, the end of fiscal year 2020, and the adoption did not have a material impact on our financial statements or disclosures.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 04, 2021
Inventory Disclosure [Abstract]
Inventories	The amounts of inventory on hand were as follows as of the dates indicated: (In thousands) April 4, 2021 January 3, 2021 Raw materials $ 195,119 $ 191,784 Finished goods 78,795 75,483 Provision for obsolete or aged inventory (6,684) (6,305) Inventories, net $ 267,230 $ 260,962

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Apr. 04, 2021
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	The details of our accrued expenses were as follows as of the dates indicated: (In thousands) April 4, 2021 January 3, 2021 Accrued payroll $ 58,604 $ 86,517 Accrued rebates 54,384 49,531 Current portion of operating lease liabilities 24,876 22,667 Accrued interest 5,410 16,435 Accrued legal settlement 40,000 40,000 Other accruals 66,784 62,566 Total accrued expenses $ 250,058 $ 277,716

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Apr. 04, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt	(In thousands) April 4, 2021 January 3, 2021 5.375% senior unsecured notes due 2028 $ 500,000 $ 500,000 5.750% senior unsecured notes due 2026 300,000 300,000 Debt issuance costs (8,372) (8,694) Other long-term debt — 936 Total long-term debt $ 791,628 $ 792,242

Share Based Compensation Plans

Share Based Compensation Plans (Tables)	3 Months Ended
	Apr. 04, 2021
Share-based Payment Arrangement [Abstract]
Stock appreciation rights award activity	Three Months Ended April 4, 2021 Stock Appreciation Rights Aggregate Intrinsic Value (in thousands) Weighted Average Exercise Price Average Remaining Contractual Life (Years) Outstanding, beginning of period 207,094 $ 7,409 $ 62.56 7.5 Granted 28,707 107.68 Exercised (11,240) 664 52.32 Outstanding, end of period 224,561 $ 11,469 $ 68.84 7.7 Exercisable, end of period 120,764 $ 6,978 $ 62.14 6.7
Schedule of Share-based Compensation, Stock Appreciation Rights, Valuation Assumptions	The weighted average grant date assumptions used for the SARs granted were as follows for the periods indicated: 2021 Grants SAR value (model conclusion) $ 28.08 Risk-free rate 0.8 % Expected dividend yield 0.0 % Expected volatility 25.2 % Expected term (years) 6.0
Restricted stock units award activity	Three Months Ended April 4, 2021 Total Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 488,057 $ 68.15 Granted 169,790 108.99 Performance adjustment (1) 14,474 63.05 Delivered (149,818) 67.62 Withheld to cover (2) (30,177) Forfeited (2,932) 70.47 Outstanding, end of period 489,394 $ 83.00 ____________ (1) Performance-based RSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. These awards are settled with payouts ranging from zero to 200% of the target award value depending on achievement. The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target. (2) A portion of the vested RSUs delivered were net share settled to cover statutory requirements for income and other employment taxes. We remit the equivalent cash to the appropriate taxing authorities. These net share settlements had the effect of share repurchases by us as we reduced and retired the number of shares that would have otherwise been issued as a result of the vesting.

Restructuring Costs (Tables)

Restructuring Costs (Tables)	3 Months Ended
	Apr. 04, 2021
Restructuring and Related Activities [Abstract]
Total restructuring costs by plan	The following tables summarize the restructuring charges recorded for the periods indicated: Three Months Ended April 4, 2021 (In thousands) North American Residential Architectural Corporate & Other Total 2020 Plan $ — $ 1,514 $ — $ 1,514 2019 Plan (361) 339 151 129 Total Restructuring Costs $ (361) $ 1,853 $ 151 $ 1,643 Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2019 Plan $ 728 $ (37) $ 862 $ 267 $ 1,820 2018 Plan 121 — — — 121 Total Restructuring Costs $ 849 $ (37) $ 862 $ 267 $ 1,941 Cumulative Amount Incurred Through April 4, 2021 (In thousands) North American Residential Europe Architectural Corporate & Other Total 2020 Plan $ 29 $ — $ 3,247 $ — $ 3,276 2019 Plan 8,961 359 2,010 2,218 13,548 2018 Plan 2,180 2,275 — — 4,455 Total Restructuring Costs $ 11,170 $ 2,634 $ 5,257 $ 2,218 $ 21,279
Schedule of restructuring reserve by type of cost	The changes in the accrual for restructuring by activity were as follows for the periods indicated: (In thousands) January 3, Severance Closure Costs Cash Payments April 4, 2020 Plan $ 1,492 $ 149 $ 1,365 $ (2,296) $ 710 2019 Plan 291 85 44 (294) 126 Total $ 1,783 $ 234 $ 1,409 $ (2,590) $ 836 (In thousands) December 29, Severance Closure Costs Cash Payments March 29, 2019 Plan $ 1,535 $ 187 $ 1,633 $ (2,769) $ 586 2018 Plan — 103 18 (121) — Total $ 1,535 $ 290 $ 1,651 $ (2,890) $ 586

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 04, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	(In thousands, except share and per share information) Three Months Ended April 4, 2021 March 29, 2020 Net income attributable to Masonite $ 46,981 $ 29,885 Shares used in computing basic earnings per share 24,469,653 24,861,442 Effect of dilutive securities: Incremental shares issuable under share compensation plans 448,856 353,322 Shares used in computing diluted earnings per share 24,918,509 25,214,764 Basic earnings per common share attributable to Masonite $ 1.92 $ 1.20 Diluted earnings per common share attributable to Masonite $ 1.89 $ 1.19 Anti-dilutive instruments excluded from diluted earnings per common share 28,707 258,773

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 04, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Certain information with respect to reportable segments is as follows for the periods indicated: Three Months Ended April 4, 2021 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 477,229 $ 90,206 $ 78,074 $ 6,343 $ 651,852 Intersegment sales (765) (1,667) (3,083) — (5,515) Net sales to external customers $ 476,464 $ 88,539 $ 74,991 $ 6,343 $ 646,337 Adjusted EBITDA $ 94,482 $ 16,755 $ 1,994 $ (11,206) $ 102,025 Three Months Ended March 29, 2020 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 384,445 $ 71,156 $ 94,555 $ 5,427 $ 555,583 Intersegment sales (588) (430) (3,337) — (4,355) Net sales to external customers $ 383,857 $ 70,726 $ 91,218 $ 5,427 $ 551,228 Adjusted EBITDA $ 71,696 $ 9,679 $ 10,582 $ (10,440) $ 81,517
Reconciliation of consolidated Adjusted EBITDA to net income (loss) attributable to Masonite	A reconciliation of our net income attributable to Masonite to consolidated Adjusted EBITDA is set forth as follows for the periods indicated: Three Months Ended (In thousands) April 4, 2021 March 29, 2020 Net income attributable to Masonite $ 46,981 $ 29,885 Plus: Depreciation 18,279 16,018 Amortization 4,918 6,459 Share based compensation expense 4,418 3,470 (Gain) loss on disposal of property, plant and equipment (597) 1,622 Restructuring costs 1,643 1,941 Interest expense, net 11,946 11,282 Other (income) expense, net (1,343) 49 Income tax expense 14,613 9,639 Net income attributable to non-controlling interest 1,167 1,152 Adjusted EBITDA $ 102,025 $ 81,517

Other Comprehensive Income and

Other Comprehensive Income and Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Apr. 04, 2021
Equity [Abstract]
Schedule of components of accumulated other comprehensive income (loss)	A rollforward of the components of accumulated other comprehensive loss is as follows for the periods indicated: Three Months Ended (In thousands) April 4, 2021 March 29, 2020 Accumulated foreign currency translation losses, beginning of period $ (93,684) $ (113,336) Foreign currency translation gain (loss) 2,228 (38,687) Income tax benefit (expense) on foreign currency translation gain (loss) 14 (44) Less: foreign currency translation gain (loss) attributable to non-controlling interest 171 (579) Accumulated foreign currency translation losses, end of period (91,613) (151,488) Accumulated pension and other post-retirement adjustments, beginning of period (18,379) (16,833) Amortization of actuarial net losses 334 173 Income tax expense on amortization of actuarial net losses (68) (45) Accumulated pension and other post-retirement adjustments (18,113) (16,705) Accumulated other comprehensive loss $ (109,726) $ (168,193) Other comprehensive income (loss), net of tax $ 2,508 $ (38,603) Less: other comprehensive income (loss) attributable to non-controlling interest 171 (579) Other comprehensive income (loss) attributable to Masonite $ 2,337 $ (38,024)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Apr. 04, 2021
Supplemental Cash Flow Elements [Abstract]
Cash and non-cash transactions	Certain cash and non-cash transactions were as follows for the periods indicated: Three Months Ended (In thousands) April 4, 2021 March 29, 2020 Transactions involving cash: Interest paid $ 22,247 $ 22,662 Interest received 25 641 Income taxes paid 16,076 3,030 Income tax refunds 438 392 Cash paid for operating lease liabilities 7,345 6,835 Cash paid for finance lease liabilities 327 317 Non-cash transactions from operating activities: Right-of-use assets acquired under operating leases 4,662 3,863
Schedule of Cash, Cash Equivalents and Restricted Cash	The following reconciles total cash, cash equivalents and restricted cash as of the dates indicated: April 4, 2021 January 3, 2021 Cash and cash equivalents $ 323,198 $ 364,674 Restricted cash 10,560 10,560 Total cash, cash equivalents and restricted cash $ 333,758 $ 375,234

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Apr. 04, 2021
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The estimated fair values and carrying values of our long-term debt instruments were as follows for the periods indicated: April 4, 2021 January 3, 2021 (In thousands) Fair Value Carrying Value Fair Value Carrying Value 5.375% senior unsecured notes due 2028 $ 530,575 $ 494,579 $ 535,580 $ 494,393 5.750% senior unsecured notes due 2026 $ 313,098 $ 297,049 $ 315,972 $ 296,913

Business Overview and Signifi_3

Business Overview and Significant Accounting Policies (Details)	Apr. 04, 2021Countryfacility
Accounting Policies [Abstract]
Number of manufacturing locations | facility	61
Number of countries | Country	8

Acquisitions and Divestitures (

Acquisitions and Divestitures (Narrative) (Details) - USD ($) $ in Millions	Dec. 04, 2020	Aug. 31, 2020	Jun. 28, 2020
India
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of subsidiaries			$ 2.1
Recognition of cumulative translation adjustment ourt of accumulated other comprehensive loss			2.3
Write-off of assets and other professional fees			$ 0.2
Lowes Door Manufacturing Facility
Business Acquisition [Line Items]
Cash consideration	$ 3.9
Development Entity
Business Acquisition [Line Items]
Cash consideration		$ 1.9

Accounts Receivable (Details)

Accounts Receivable (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 04, 2021USD ($)Customer	Jan. 03, 2021USD ($)Customer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts | $	$ 2,600	$ 2,800
Accounts Receivable | Customer Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, customers | Customer	10	10
Concentration risk, percent	61.30%	53.10%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 195,119	$ 191,784
Finished goods	78,795	75,483
Provision for obsolete or aged inventory	(6,684)	(6,305)
Inventories, net	$ 267,230	$ 260,962

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Accrued Expenses [Abstract]
Accrued payroll	$ 58,604	$ 86,517
Accrued rebates	54,384	49,531
Current portion of operating lease liabilities	24,876	22,667
Accrued interest	5,410	16,435
Accrued legal settlement	40,000	40,000
Other accruals	66,784	62,566
Total accrued expenses	$ 250,058	$ 277,716

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Debt Instrument [Line Items]
Other long-term debt	$ 0	$ 936
Total long-term debt	791,628	792,242
Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	(8,372)	(8,694)
Senior Notes | Senior Notes Due 2028
Debt Instrument [Line Items]
Long-term debt	500,000	500,000
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Long-term debt	$ 300,000	$ 300,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020	Jul. 25, 2019	Jan. 31, 2019	Aug. 27, 2018
Senior Notes
Debt Instrument [Line Items]
Interest expense	$ 11,400,000	$ 11,300,000
Senior Notes | Senior Notes Due 2028
Debt Instrument [Line Items]
Aggregate principal			$ 500,000,000
Interest rate stated percentage	5.375%
Senior Notes | Senior Notes Due 2026
Debt Instrument [Line Items]
Aggregate principal					$ 300,000,000
Interest rate stated percentage	5.75%
Revolving Credit Facility | ABL Facility 2024
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 250,000,000
Revolving credit facility availability	$ 220,500,000
Revolving credit facilities	$ 0
Minimum | Revolving Credit Facility | ABL Facility 2024
Debt Instrument [Line Items]
Unutilized commitment fee percentage	0.25%
Minimum | Revolving Credit Facility | ABL Facility 2024 | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.25%
Minimum | Revolving Credit Facility | ABL Facility 2024 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%
Maximum | Revolving Credit Facility | ABL Facility 2024 | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Maximum | Revolving Credit Facility | ABL Facility 2024 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%

Share Based Compensation Plan_2

Share Based Compensation Plans Narrative (Details) - USD ($) $ in Thousands	Mar. 10, 2021	Apr. 04, 2021	Mar. 29, 2020	Jul. 12, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation		$ 4,418	$ 3,470
Share based compensation unrecognized		$ 29,600
Weighted average remaining requisite service period		1 year 10 months 24 days
Deferred compensation liability		$ 8,000
Deferred compensation asset		$ 8,300
2012 Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards not to exceed				2,000,000
Common stock available for future issuance		614,231
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plan, period in force	10 years
2021 Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards not to exceed	880,000
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Plan term		10 years
Vested, fair value		$ 700
Average requisite service period		2 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Average requisite service period		2 years 4 months 24 days
Units vested		179,995
Fair value of shares vested		$ 11,900
Service Requirement | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		65.00%
Service and Performance Requirements | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		35.00%

Share Based Compensation Plan_3

Share Based Compensation Plans (SARs) (Details) - Stock Appreciation Rights (SARs) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 04, 2021	Jan. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of period, shares	207,094
Granted, shares	28,707
Exercised, shares	(11,240)
Outstanding, end of period, shares	224,561	207,094
Exercisable, shares	120,764
Share-based Compensation Arrangement by Share-based Payment Award, Options, Aggregate Intrinsic Value & Average Remaining Contractual Life [Abstract]
Outstanding, beginning of period, aggregate intrinsic value	$ 7,409
Exercised, aggregate intrinsic value	664
Outstanding, end period, aggregate intrinsic value	11,469	$ 7,409
Exercisable, aggregate intrinsic value	$ 6,978
Outstanding, beginning of period, weighted average remaining contractual term	7 years 8 months 12 days	7 years 6 months
Outstanding, end of period, weighted average remaining contractual term	7 years 8 months 12 days	7 years 6 months
Exercisable, weighted average remaining contractual term	6 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period, weighted average exercise price	$ 62.56
Granted, weighted average exercise price	107.68
Exercised, weighted average exercise price	52.32
Outstanding, end of period, weighted average exercise price	68.84	$ 62.56
Exercisable, weighted average exercise price	$ 62.14

Share Based Compensation Plan_4

Share Based Compensation Plans (Weighted Average Grant Date Assumptions) (Details) - Stock Appreciation Rights (SARs)	3 Months Ended
	Apr. 04, 2021$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SAR Value (model conclusion)	$ 28.08
Risk-free rate	0.80%
Expected dividend yield	0.00%
Expected volatility	25.20%
Expected term (years)	6 years

Share Based Compensation Plan_5

Share Based Compensation Plans (RSUs) (Details)	3 Months Ended
	Apr. 04, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award Equity Instruments Other Than Options Vested and Undelivered Performance adjustment Weighted Average Grant Date Fair Value | $ / shares	$ 63.05
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of period (shares)	488,057
Granted (shares)	169,790
Performance adjustment (shares)	(14,474)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 67.62
Delivered (shares)	(149,818)
Withheld to cover (shares)	(30,177)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 70.47
Forfeited (shares)	(2,932)
Outstanding, end of period (shares)	489,394
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning of period (weighted average grant date fair value) | $ / shares	$ 68.15
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	108.99
Outstanding, end of period (weighted average grant date fair value) | $ / shares	$ 83

Restructuring Costs (Details)

Restructuring Costs (Details) $ in Millions	Apr. 04, 2021USD ($)
Minimum | 2020 Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost remaining	$ 3
Minimum | 2019 Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost remaining	1
Maximum | 2020 Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost remaining	4
Maximum | 2019 Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost remaining	$ 2

Restructuring Costs (Restructur

Restructuring Costs (Restructuring Costs by Plan) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020	Jan. 03, 2021	Dec. 29, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1,643	$ 1,941
Cumulative amount incurred to date	21,279
Restructuring Reserve	836	586	$ 1,783	$ 1,535
Payments for Restructuring	2,590	2,890
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	234	290
Closure Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,409	1,651
North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(361)	849
Cumulative amount incurred to date	11,170
Europe
Restructuring Cost and Reserve [Line Items]
Restructuring costs		(37)
Cumulative amount incurred to date	2,634
Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,853	862
Cumulative amount incurred to date	5,257
Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	151	267
Cumulative amount incurred to date	2,218
2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,514
Cumulative amount incurred to date	3,276
Restructuring Reserve	710		1,492
Payments for Restructuring	2,296
2020 Plan | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	149
2020 Plan | Closure Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,365
2020 Plan | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0
Cumulative amount incurred to date	29
2020 Plan | Europe
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	0
2020 Plan | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,514
Cumulative amount incurred to date	3,247
2020 Plan | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	0
Cumulative amount incurred to date	0
2019 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring costs	129	1,820
Cumulative amount incurred to date	13,548
Restructuring Reserve	126	586	$ 291	1,535
Payments for Restructuring	294	2,769
2019 Plan | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs	85	187
2019 Plan | Closure Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	44	1,633
2019 Plan | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(361)	728
Cumulative amount incurred to date	8,961
2019 Plan | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring costs		(37)
Cumulative amount incurred to date	359
2019 Plan | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs	339	862
Cumulative amount incurred to date	2,010
2019 Plan | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	151	267
Cumulative amount incurred to date	2,218
2018 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring costs		121
Cumulative amount incurred to date	4,455
Restructuring Reserve		0		$ 0
Payments for Restructuring		121
2018 Plan | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs		103
2018 Plan | Closure Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs		18
2018 Plan | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs		121
Cumulative amount incurred to date	2,180
2018 Plan | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring costs		0
Cumulative amount incurred to date	2,275
2018 Plan | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs		0
Cumulative amount incurred to date	0
2018 Plan | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 0
Cumulative amount incurred to date	$ 0

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Canadian federal statutory rate	26.50%
Income tax benefit due to the exercise and delivery of share-based awards	$ 2,000	$ 700

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to Masonite	$ 46,981	$ 29,885
Shares used in computing basic earnings per share	24,469,653	24,861,442
Effect of dilutive securities:
Incremental shares issuable under share compensation plans	448,856	353,322
Shares used in computing diluted earnings per share	24,918,509	25,214,764
Basic earnings per common share attributable to Masonite (in dollars per share)	$ 1.92	$ 1.20
Diluted earnings per common share attributable to Masonite (in dollars per share)	$ 1.89	$ 1.19
Stock Appreciation Rights (SARs)
Effect of dilutive securities:
Anti-dilutive instruments excluded from diluted earnings per common share	28,707	258,773

Segment Information (Geographic

Segment Information (Geographic Segments Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 646,337	$ 551,228
Adjusted EBITDA	102,025	81,517
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	651,852	555,583
Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(5,515)	(4,355)
North American Residential
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	476,464	383,857
Adjusted EBITDA	94,482	71,696
North American Residential | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	477,229	384,445
North American Residential | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(765)	(588)
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	88,539	70,726
Adjusted EBITDA	16,755	9,679
Europe | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	90,206	71,156
Europe | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(1,667)	(430)
Architectural
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	74,991	91,218
Adjusted EBITDA	1,994	10,582
Architectural | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	78,074	94,555
Architectural | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(3,083)	(3,337)
Corporate & Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	6,343	5,427
Adjusted EBITDA	(11,206)	(10,440)
Corporate & Other | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	6,343	5,427
Corporate & Other | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 0	$ 0

Segment Information (Reconcilia

Segment Information (Reconciliation of Consolidated Adjusted EBITDA to Net Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020
Segment Reporting [Abstract]
Adjusted EBITDA	$ 102,025	$ 81,517
Depreciation	18,279	16,018
Amortization	4,918	6,459
Share based compensation expense	4,418	3,470
(Gain) loss on disposal of property, plant and equipment	(597)	1,622
Restructuring costs	1,643	1,941
Interest expense, net	11,946	11,282
Other (income) expense, net	(1,343)	49
Income tax expense	14,613	9,639
Net income attributable to non-controlling interest	1,167	1,152
Net income attributable to Masonite	$ 46,981	$ 29,885

Other Comprehensive Income an_2

Other Comprehensive Income and Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 04, 2021	Mar. 29, 2020	Jan. 03, 2021
Accumulated Foreign Currency Translation Gains (Losses) [Roll Forward]
Accumulated foreign currency translation gains (losses), beginning of period	$ (93,684)	$ (113,336)
Foreign currency translation gain (loss)	2,228	(38,687)
Income tax benefit (expense) on foreign currency translation gain (loss)	14	(44)
Less: foreign currency translation gain (loss) attributable to non-controlling interest	171	(579)
Accumulated foreign currency translation gains (losses), end of period	(91,613)	(151,488)
Accumulated Amortization of Actuarial Net Losses [Roll Forward]
Accumulated pension and other post-retirement adjustments, beginning of period	(18,379)	(16,833)
Amortization of actuarial net losses	334	173
Income tax expense on amortization of actuarial net losses	(68)	(45)
Accumulated pension and other post-retirement adjustments	(18,113)	(16,705)
Accumulated other comprehensive loss	(109,726)	(168,193)	$ (112,063)
Other comprehensive income (loss), net of tax	2,508	(38,603)
Less: other comprehensive income (loss) attributable to non-controlling interest	171	(579)
Other comprehensive income (loss) attributable to Masonite	2,337	(38,024)
Foreign currency translation gain (loss)	$ 2,228	$ (38,687)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 04, 2021	Mar. 29, 2020	Jan. 03, 2021
Supplemental Cash Flow Elements [Abstract]
Property, Plant and Equipment, Additions	$ 2,700		$ 5,600
Transactions involving cash:
Interest paid	22,247	$ 22,662
Interest received	25	641
Income taxes paid	16,076	3,030
Income tax refunds	438	392
Cash paid for operating lease liabilities	7,345	6,835
Cash paid for finance lease liabilities	327	317
Non-cash transactions from operating activities:
Right-of-use assets acquired in under operating leases	$ 4,662	$ 3,863

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information Cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021	Mar. 29, 2020	Dec. 29, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 323,198	$ 364,674
Restricted cash	10,560	10,560
Total cash, cash equivalents and restricted cash	$ 333,758	$ 375,234	$ 125,019	$ 177,608

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Senior Notes - Fair Value, Inputs, Level 2 - USD ($) $ in Thousands	Apr. 04, 2021	Jan. 03, 2021
Senior Notes Due 2028 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	$ 530,575	$ 535,580
Senior Notes Due 2028 | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	494,579	494,393
Senior Notes Due 2026 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	313,098	315,972
Senior Notes Due 2026 | Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	$ 297,049	$ 296,913