Masonite International (DOOR) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jul. 02, 2023	Aug. 07, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 02, 2023
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		22,003,429
Entity Central Index Key	0000893691
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	A1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Statement of Comprehensive Income [Abstract]
Net sales	$ 741,884	$ 761,874	$ 1,467,868	$ 1,488,091
Cost of goods sold	563,517	582,389	1,119,010	1,124,357
Gross profit	178,367	179,485	348,858	363,734
Selling, general and administration expenses	98,746	90,330	200,451	173,576
Restructuring costs (benefit)	3,065	(61)	6,743	(80)
Operating income	76,556	89,216	141,664	190,238
Interest expense, net	13,488	10,593	27,740	20,832
Other (income) expense, net	(550)	(400)	(498)	(1,815)
Income before income tax expense	63,618	79,023	114,422	171,221
Income tax expense	14,673	19,649	26,033	43,126
Net income	48,945	59,374	88,389	128,095
Less: net income attributable to non-controlling interests	700	859	1,653	1,998
Net income attributable to Masonite	$ 48,245	$ 58,515	$ 86,736	$ 126,097
Basic earnings per common share attributable to Masonite (in dollars per share)	$ 2.19	$ 2.60	$ 3.92	$ 5.53
Diluted earnings per common share attributable to Masonite (in dollars per share)	$ 2.16	$ 2.58	$ 3.87	$ 5.47
Comprehensive income:
Net income	$ 48,945	$ 59,374	$ 88,389	$ 128,095
Other comprehensive income (loss):
Foreign currency translation gain (loss)	8,541	(28,392)	17,490	(30,497)
Amortization of actuarial net losses	192	6	383	12
Income tax (expense) benefit related to other comprehensive income (loss)	(29)	(23)	(74)	(13)
Other comprehensive income (loss), net of tax	8,704	(28,409)	17,799	(30,498)
Comprehensive income	57,649	30,965	106,188	97,597
Less: comprehensive income attributable to non-controlling interests	864	1,358	1,809	2,639
Comprehensive income attributable to Masonite	$ 56,785	$ 29,607	$ 104,379	$ 94,958

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Current assets:
Cash and cash equivalents	$ 317,157	$ 296,922
Restricted cash	11,587	11,999
Accounts receivable, net	374,794	375,918
Inventories, net	378,705	406,828
Prepaid expenses and other assets	66,982	55,051
Income taxes receivable	21,266	16,922
Total current assets	1,170,491	1,163,640
Property, plant and equipment, net	735,932	652,329
Operating lease right-of-use assets	191,190	160,695
Investment in equity investees	18,058	16,111
Goodwill	257,527	69,868
Intangible assets, net	254,156	136,056
Deferred income taxes	21,400	16,133
Other assets	34,191	33,346
Total assets	2,682,945	2,248,178
Current liabilities:
Accounts payable	137,895	111,526
Accrued expenses	227,833	223,046
Income taxes payable	6,520	14,361
Long-Term Debt, Current Maturities	37,500	0
Total current liabilities	409,748	348,933
Long-term debt	1,067,183	866,116
Long-term operating lease liabilities	178,820	151,242
Deferred income taxes	120,963	79,590
Other liabilities	76,406	59,515
Total liabilities	1,853,120	1,505,396
Commitments and Contingencies (Note 7)
Equity:
Share capital: unlimited shares authorized, no par value, 21,995,420 and 22,155,035 shares issued and outstanding as of July 2, 2023, and January 1, 2023, respectively	526,816	520,003
Additional paid-in capital	223,540	226,514
Retained earnings	193,262	127,826
Accumulated other comprehensive loss	(124,581)	(142,224)
Total equity attributable to Masonite	819,037	732,119
Equity attributable to non-controlling interests	10,788	10,663
Total equity	829,825	742,782
Total liabilities and equity	$ 2,682,945	$ 2,248,178

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - shares	Jul. 02, 2023	Jan. 01, 2023
Statement of Financial Position [Abstract]
Shares issued (in shares)	21,995,420	22,155,035
Shares outstanding (in shares)	21,995,420	22,155,035

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Equity Attributable to Noncontrolling Interests
Balance at beginning of period at Jan. 02, 2022	$ 699,778	$ 543,400	$ 222,177	$ 24,244	$ (101,582)	$ 11,539
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards		12,976	(12,976)
Common shares issued under employee stock purchase plan		797	(134)
Common shares repurchased		35,930	0	104,070
Share based compensation expense			10,695
Common shares withheld to cover income taxes payable due to delivery of share based awards			(3,109)
Net income	128,095			126,097		1,998
Other comprehensive income (loss), net of tax	(30,498)				(31,139)	641
Dividends to non-controlling interests						(2,559)
Balance at end of period at Jul. 03, 2022	663,065	$ 521,243	216,653	46,271	(132,721)	11,619
Balance at beginning of period (in shares) at Jan. 02, 2022		23,623,887
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards (in shares)		183,448
Common shares issued under employee stock purchase plan (in shares)		8,029
Common shares repurchased (in shares)		(1,556,008)
Balance at end of period (in shares) at Jul. 03, 2022		22,259,356
Balance at beginning of period at Apr. 03, 2022	626,447	$ 527,386	194,459	(2,023)	(104,810)	11,435
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards		1,346	(1,346)
Common shares issued under employee stock purchase plan		0	0
Common shares repurchased		7,489	(17,710)	10,221
Share based compensation expense			5,976
Common shares withheld to cover income taxes payable due to delivery of share based awards			(146)
Net income	59,374			58,515		859
Other comprehensive income (loss), net of tax	(28,409)				(27,911)	499
Dividends to non-controlling interests						(1,174)
Balance at end of period at Jul. 03, 2022	663,065	$ 521,243	216,653	46,271	(132,721)	11,619
Balance at beginning of period (in shares) at Apr. 03, 2022		22,564,956
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards (in shares)		14,078
Common shares issued under employee stock purchase plan (in shares)		0
Common shares repurchased (in shares)		(319,678)
Balance at end of period (in shares) at Jul. 03, 2022		22,259,356
Balance at beginning of period at Jan. 01, 2023	742,782	$ 520,003	226,514	127,826	(142,224)	10,663
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards		13,840	(13,840)
Common shares issued under employee stock purchase plan		806	(226)
Common shares repurchased		7,833	0	21,300
Share based compensation expense			13,157
Common shares withheld to cover income taxes payable due to delivery of share based awards			(2,065)
Net income	88,389			86,736		1,653
Other comprehensive income (loss), net of tax	17,799				17,643	156
Dividends to non-controlling interests						(1,684)
Balance at end of period at Jul. 02, 2023	$ 829,825	$ 526,816	223,540	193,262	(124,581)	10,788
Balance at beginning of period (in shares) at Jan. 01, 2023	22,155,035	22,155,035
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards (in shares)		159,120
Common shares issued under employee stock purchase plan (in shares)		8,933
Common shares repurchased (in shares)		(327,668)
Balance at end of period (in shares) at Jul. 02, 2023	21,995,420	21,995,420
Balance at beginning of period at Apr. 02, 2023	$ 780,724	$ 529,156	218,010	155,625	(133,121)	11,054
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards		1,468	(1,468)
Common shares issued under employee stock purchase plan		0	0
Common shares repurchased		3,808	0	10,608
Share based compensation expense			7,103
Common shares withheld to cover income taxes payable due to delivery of share based awards			(105)
Net income	48,945			48,245		700
Other comprehensive income (loss), net of tax	8,704				8,540	164
Dividends to non-controlling interests						(1,130)
Balance at end of period at Jul. 02, 2023	$ 829,825	$ 526,816	$ 223,540	$ 193,262	$ (124,581)	$ 10,788
Balance at beginning of period (in shares) at Apr. 02, 2023		22,138,282
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued for delivery of share based awards (in shares)		16,177
Common shares issued under employee stock purchase plan (in shares)		106
Common shares repurchased (in shares)		(159,145)
Balance at end of period (in shares) at Jul. 02, 2023	21,995,420	21,995,420

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022
Cash flows from operating activities:
Net income	$ 88,389	$ 128,095
Adjustments to reconcile net income to net cash flow provided by operating activities:
Depreciation	44,466	34,516
Amortization	14,463	8,908
Share based compensation expense	13,157	10,695
Deferred income taxes	(9,457)	1,042
Unrealized foreign exchange (gain) loss	(146)	356
Share of income from equity investees, net of tax	(1,990)	(2,610)
Dividend from equity investee	3,150	0
Pension and post-retirement funding, net of expense	(956)	0
Non-cash accruals and interest	1,861	(114)
Loss (gain) on sale of property, plant and equipment	1,540	(1,400)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	13,474	(67,611)
Inventories	75,709	(89,508)
Prepaid expenses and other assets	(22,152)	(4,821)
Accounts payable and accrued expenses	9,918	23,302
Other assets and liabilities	(13,614)	(6,736)
Net cash flow provided by operating activities	217,812	34,114
Cash flows from investing activities:
Additions to property, plant and equipment	(58,056)	(39,955)
Acquisition of businesses, net of cash acquired	(354,419)	0
Proceeds from sale of property, plant and equipment	13	6,394
Proceeds from repayment of note receivable	12,000	0
Other investing activities	(3,834)	(1,152)
Net cash flow used in investing activities	(404,296)	(34,713)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	250,000	0
Repayments of Long-term Debt	9,375	0
Payment of debt issuance costs	(3,628)	0
Proceeds from borrowings on revolving credit facilities	100,000	0
Repayments of borrowings on revolving credit facilities	(100,000)	0
Tax withholding on share based awards	(2,065)	(3,109)
Distributions to non-controlling interests	(1,684)	(2,559)
Repurchases of common shares	(29,133)	(140,000)
Net cash flow provided by (used in) financing activities	204,115	(145,668)
Net foreign currency translation adjustment on cash	2,192	(2,598)
Increase (decrease) in cash, cash equivalents and restricted cash	19,823	(148,865)
Cash, cash equivalents and restricted cash, beginning of period	308,921	391,505
Cash, cash equivalents and restricted cash, at end of period	$ 328,744	$ 242,640

Business Overview and Significa

Business Overview and Significant Accounting Policies	6 Months Ended
	Jul. 02, 2023
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 a leading global designer, manufacturer, marketer and distributor of interior and exterior doors, door system components and door systems for the new construction and repair, renovation and remodeling sectors of the residential and non-residential building construction markets. Masonite operates 63 manufacturing locations in seven 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 1, 2023, as filed with the SEC (the "Annual Report"). 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 a 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 2022 audited consolidated financial statements, other than as noted below. Adoption of Recent Accounting Pronouncements In December 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-10, "Government Assistance," which requires annual disclosures that increase the transparency of transactions involving government grants, including (1) the types of transactions, (2) the accounting for those transactions and (3) the effect of those transactions on an entity's financial statements. The guidance is effective for annual periods beginning after December 15, 2021, with early adoption permitted. We adopted the new guidance as of January 3, 2022, the beginning of fiscal year 2022, and the adoption did not have a material impact on our financial statements. In October 2021, the FASB issued ASU 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers," which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with ASU 2014-09, "Revenue from Contracts with Customers" as if the entity had originated the contracts. We adopted the new guidance as of January 1, 2023, the beginning of fiscal year 2023, and the adoption did not have a material impact on our financial statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jul. 02, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions On January 3, 2023, we completed the acquisition of 100% of the outstanding equity of EPI Holdings, Inc. ("Endura"), for total consideration of approximately $408.1 million, including an $18.0 million holdback which is payable 24 months after the acquisition date and was recorded in the consolidated balance sheets as a component of other liabilities. Endura is a leading innovator and manufacturer of high-performance door frames and door system components in the United States. Endura’s product offerings include engineered frames, self-adjusting sill systems, weather sealing, multi-point locks and installation accessories used by builders and contractors in residential new construction as well as repair and remodeling applications. The acquisition is intended to accelerate our Doors That Do More TM strategy and maximize our growth potential. The $187.7 million excess purchase price over the fair value of tangible and intangible assets acquired was allocated to goodwill. The goodwill principally represents anticipated synergies to be gained from the integration into our existing business and acquisition of the assembled workforce. This goodwill is not deductible for tax purposes and relates to the North American Residential segment. The Company has accounted for the acquisition as a business combination and allocated the preliminary estimated purchase price to the estimated fair values of assets acquired and liabilities assumed utilizing various valuation methods including replacement cost, market values and the income approach. The Company has not yet completed its evaluation and determination of certain assets acquired and liabilities assumed, primarily (i) the final valuation of intangible assets related to customers relationships, patents and trade names, and (ii) the final assessment and valuation of certain other assets acquired and liabilities assumed, including inventory, property, plant and equipment, leases, and deferred income taxes, which could also impact goodwill during the measurement period. The allocation of the purchase price to assets acquired and liabilities assumed is as follows: (In thousands) Initial Purchase Price Allocation Measurement Period Adjustments Preliminary Purchase Price Allocation Cash acquired $ 32,501 $ — $ 32,501 Accounts receivable, net 7,871 — 7,871 Inventories, net 44,183 35 44,218 Property, plant and equipment, net 54,373 10,576 64,949 Goodwill 189,938 (2,230) 187,708 Intangible assets 135,800 (7,400) 128,400 Accounts payable and accrued expenses (15,088) — (15,088) Deferred income taxes (44,345) (946) (45,291) Other assets and liabilities, net 2,868 (35) 2,833 Total purchase price $ 408,101 $ — $ 408,101 The fair values of intangible assets acquired are based on management's estimates and assumptions including the income approach, the cost approach and the market approach. The intangible assets acquired are not expected to have any residual value. The gross contractual value of acquired trade receivables was $8.3 million. Intangible assets acquired from the Endura acquisition consist of the following: Fair Value Expected Useful Life (Years) Customer relationships $ 108,600 10 Trademarks and trade names 6,600 10 Patents 13,200 12 Total intangible assets acquired $ 128,400 Endura's results of operations were included in the condensed consolidated statements of income and comprehensive income for the period subsequent to the acquisition date. For the three and six months ended July 2, 2023, Endura had net sales of $59.4 million and $119.2 million, respectively. For the three and six months ended July 2, 2023, Endura had $1.3 million in net income attributable to Masonite and $3.2 million in net loss attributable to Masonite, respectively. Pro Forma Information The following unaudited pro forma financial information represents the consolidated financial information as if the Endura acquisition had been included in our consolidated results beginning on January 2, 2022, the first day of the fiscal year prior to the respective acquisition date. The pro forma results have been calculated after adjusting the results of the acquired entities to remove intercompany transactions and to reflect the additional depreciation, amortization and interest expense that would have been charged assuming the fair value adjustments to property, plant and equipment and intangible assets and the additional debt incurred to fund the acquisition had been applied on the first day of the fiscal year prior to the respective acquisition date, together with the consequential tax effects. The pro forma results do not reflect any cost savings, operating synergies or revenue enhancements that the combined companies may achieve as a result of the acquisition; the costs to combine the companies' operations; or the costs necessary to achieve these costs savings, operating synergies and revenue enhancements. As a result, the pro forma information below does not purport to represent actual results had the acquisition been consummated on the date indicated and it is not necessarily indicative of future results of operations. Three Months Ended July 3, 2022 (In thousands) Masonite Endura Pro Forma Adjustments Pro Forma Net sales $ 761,874 $ 73,479 $ (3,216) $ 832,137 Net income attributable to Masonite 58,515 4,097 (7,850) 54,762 Basic earnings per common share $ 2.60 $ 2.43 Diluted earnings per common share $ 2.58 $ 2.41 Six Months Ended July 3, 2022 (In thousands) Masonite Endura Pro Forma Adjustments Pro Forma Net sales $ 1,488,091 $ 146,195 $ (5,820) $ 1,628,466 Net income attributable to Masonite 126,097 7,450 (13,731) 119,816 Basic earnings per common share $ 5.53 $ 5.25 Diluted earnings per common share $ 5.47 $ 5.20 As previously disclosed, we are actively reviewing strategic alternatives for our Architectural segment, including a potential sale of the business. There can be no assurance that a potential transaction will be consummated or

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jul. 02, 2023
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Our customers consist mainly of retailers, distributors and contractors. Our ten largest customers accounted for 57.8% and 62.3% of total accounts receivable as of July 2, 2023, and January 1, 2023, respectively. Our largest customer, The Home Depot, Inc., accounted for more than 10% of the consolidated gross accounts receivable balance as of July 2, 2023, and January 1, 2023. The allowance for doubtful accounts balance was $2.6 million and $2.5 million as of July 2, 2023, and January 1, 2023, 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 AR Sales 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 income and comprehensive income. In most countries we pay and collect Value Added Tax ("VAT") when procuring goods and services within the normal course of business. VAT receivables are established in jurisdictions where VAT paid exceeds VAT collected and are recoverable through the filing of refund claims.

Inventories

Inventories	6 Months Ended
	Jul. 02, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories The amounts of inventory on hand were as follows as of the dates indicated: (In thousands) July 2, 2023 January 1, 2023 Raw materials $ 256,799 $ 320,553 Finished goods 137,115 95,005 Provision for obsolete or aged inventory (15,209) (8,730) Inventories, net $ 378,705 $ 406,828

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jul. 02, 2023
Accrued Expenses [Abstract]
Accrued Expenses	Accrued Expenses The details of our accrued expenses were as follows as of the dates indicated: (In thousands) July 2, 2023 January 1, 2023 Accrued payroll $ 71,462 $ 69,224 Accrued rebates 56,660 50,200 Current portion of operating lease liabilities 26,397 24,372 Accrued interest 19,765 16,480 Other accruals 53,549 62,770 Total accrued expenses $ 227,833 $ 223,046

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 02, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt (In thousands) July 2, 2023 January 1, 2023 Senior unsecured notes, interest rate of 3.50% , due 2030 $ 375,000 $ 375,000 Senior unsecured notes, interest rate of 5.375% , due 2028 500,000 500,000 Term Loan Facility, interest rate of SOFR plus 2.25%, due 2027 240,625 — Debt issuance costs (10,942) (8,884) Total debt (including current portion) 1,104,683 866,116 Less: debt due within one year (37,500) — Total long-term debt (excluding current portion) $ 1,067,183 $ 866,116 Interest expense related to our consolidated indebtedness under our senior unsecured notes, Term Loan Facility and ABL Facility was $14.1 million and $29.5 million for the three and six months ended July 2, 2023, respectively, and $10.4 million and $20.7 million for the three and six months ended July 3, 2022, respectively. 3.50% Senior Notes due 2030 On July 26, 2021, we issued $375.0 million aggregate principal senior unsecured notes (the "2030 Notes"). The 2030 Notes bear interest at 3.50% per annum, payable in cash semiannually in arrears on February 15 and August 15 of each year and are due February 15, 2030. The 2030 Notes were issued at par. Information concerning obligations under the 2030 Notes and the indenture governing them are described in detail in our Annual Report. As of July 2, 2023, we were in compliance with all covenants under the indenture governing the 2030 Notes. 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. As of July 2, 2023, we were in compliance with all covenants under the indenture governing the 2028 Notes. Term Loan Facility On December 13, 2022, we and certain of our subsidiaries entered into a new delayed-draw term loan credit agreement (the "Term Loan Credit Agreement") maturing on December 12, 2027 (the "Term Loan Maturity Date"). The Term Loan Credit Agreement provides for a senior secured five-year delayed-draw term loan facility of $250.0 million (the "Term Loan Facility"). Loans under the Term Loan Facility (the "Term Loans") will bear interest at a rate equal to, at our option, (1) the Adjusted Term SOFR Rate (as defined in the Term Loan Credit Agreement) plus an applicable margin of 2.25% or (2) an alternate base rate equal to the greatest of (i) the "Prime Rate" in the U.S. last quoted by The Wall Street Journal, (ii) 0.50% above the greater of the federal funds rate and the rate comprised of both overnight federal funds and overnight eurodollar transactions denominated in U.S. dollars, (iii) 1.00% above the Adjusted Term SOFR Rate for a one month interest period and (iv) 1.00%, plus, in each case, an applicable margin of 1.25%, subject to, in each of cases (1) and (2), an agreed interest rate floor. The Term Loans are repayable in equal quarterly installments for an annual aggregate amortization payment equal to 15% of the aggregate principal amount of the Term Loans, with the balance of the principal being due on the Term Loan Maturity Date. The Borrower also pays customary agency fees. Obligations under the Term Loan Credit Agreement are fully and unconditionally guaranteed, jointly and severally, by us and by certain of our directly or indirectly wholly-owned subsidiaries organized in the U.S. and are secured by the equity in, and substantially all the assets of, such subsidiaries. The Term Loans were funded in an amount of $250.0 million and applied to finance a portion of the consideration payable in connection with the consummation of the Endura acquisition on January 3, 2023. We received net proceeds of $246.4 million after deducting $3.6 million of debt issuance costs. The debt issuance costs were capitalized as a reduction to the carrying value of debt and are being accreted to interest expense over the term of the Term Loan using the effective interest method. The Term Loan Credit Agreement contains various customary representations, warranties by us and covenants that are described in detail in our Annual Report. As of July 2, 2023, we were in compliance with all covenants under the indenture governing the Term Loan Credit Agreement. 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. On October 28, 2022, we and certain of our subsidiaries entered into an amendment which, among other things, (i) increased the revolving credit commitments available thereunder by $100.0 million to an aggregate amount of $350.0 million and (ii) replaced the LIBOR-based interest rate applicable to borrowings thereunder in U.S. dollars with an interest rate based on the sum of (x) a "Term SOFR" rate published by the CME Group Benchmark Administration Limited (CBA) plus (y) 10 basis points ("Adjusted Term SOFR"). Additionally, on December 12, 2022, we entered into an amendment to the ABL Facility, which, among other things, extended the maturity of the ABL Facility from January 31, 2024 to December 12, 2027. The terms of the ABL Facility remained otherwise substantially unchanged and are described in detail in our Annual Report. On January 3, 2023, we borrowed $100.0 million under our ABL Facility in order to fund a portion of the cash consideration paid for the acquisition of Endura. During the first quarter of 2023, we repaid all amounts outstanding under the ABL Facility. The ABL Facility contains various customary representations, warranties by us and covenants that are described in detail in our Annual Report. As of July 2, 2023, we were in compliance with all covenants under the credit agreement governing the ABL Facility. We had availability of $300.6 million under our ABL Facility, and there were no amounts outstanding as of July 2, 2023.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 02, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We may become involved from time-to-time in litigation and regulatory compliance matters incidental to our business, including employment and wage and hour claims, antitrust, tax, product liability, environmental, health and safety, commercial disputes, intellectual property, contracts and other matters arising out of the normal conduct of our business. Since litigation is inherently unpredictable and unfavorable resolutions can occur, assessing contingencies is highly subjective and requires judgments about future events. We regularly review and accrue for contingencies related to litigation and regulatory compliance matters, if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Based on current information, in the opinion of management, the ultimate resolution of these matters, individually or in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows. Antitrust Class Action Proceedings - Canada On May 19, 2020, an intended class proceeding was commenced in the Province of Québec, Canada naming as defendants Masonite Corporation, Corporation Internationale Masonite, JELD-WEN, Inc., JELD-WEN Holding, Inc. and JELD-WEN of Canada, Ltd. The plaintiff alleges that the Masonite and JELD-WEN defendants engaged in anticompetitive conduct, including price-fixing involving interior molded doors. The intended class proceeding seeks damages, punitive damages, and other relief. On December 22, 2020, the parties filed a motion with the court seeking to stay the proceeding.

Share Based Compensation Plans

Share Based Compensation Plans	6 Months Ended
	Jul. 02, 2023
Share-Based Payment Arrangement [Abstract]
Share Based Compensation Plans	Share Based Compensation Plans Share based compensation expense was $7.1 million and $13.2 million for the three and six months ended July 2, 2023, respectively, and $6.0 million and $10.7 million for the three and six months ended July 3, 2022, respectively. As of July 2, 2023, the total remaining unrecognized compensation expense related to share based compensation amounted to $40.2 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 2021 Equity Plan and 2012 Plan are described in detail and defined in our Annual Report. The aggregate number of common shares that can be issued with respect to equity awards under the 2021 Equity 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 related to outstanding grants; plus the number of shares subject to existing grants under the 2012 Plan that may expire or be forfeited or cancelled. As of July 2, 2023, there were 703,883 shares of common stock available for future issuance under the 2021 Equity Plan. Deferred Compensation Plan We offer to certain of our employees and directors a Deferred Compensation Plan, which is further described and defined in our Annual Report. As of July 2, 2023, the liability and asset relating to deferred compensation had a fair value of $7.5 million and $7.1 million, respectively. As of July 2, 2023, 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, which entitle the recipient to the appreciation in value of granted 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 six months ended July 2, 2023. Six Months Ended July 2, 2023 Stock Appreciation Rights Aggregate Intrinsic Value (in thousands) Weighted Average Exercise Price Average Remaining Contractual Life (Years) Outstanding, beginning of period 184,205 $ 2,153 $ 74.75 7.0 Granted 30,946 88.99 Exercised — — — Cancelled and forfeited — — Outstanding, end of period 215,151 $ 5,646 $ 76.79 7.0 Exercisable, end of period 153,236 $ 4,912 $ 70.93 6.1 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 based upon historical employee exercise behavior and the contractual term of the SAR amongst other considerations. The weighted average grant date assumptions used for the SARs granted were as follows for the periods indicated: 2023 Grants SAR value (model conclusion) $ 32.63 Risk-free rate 4.1 % Expected dividend yield 0.0 % Expected volatility 28.4 % Expected term (years) 6.0 Restricted Stock Units We have granted Restricted Stock Units ("RSUs") to directors and certain employees under the 2021 Equity Plan and 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 granted 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. Six Months Ended July 2, 2023 Total Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 313,753 $ 92.85 Granted 203,445 89.37 Delivered (96,879) 91.05 Withheld to cover (1) (18,620) Forfeited (23,629) 90.99 Outstanding, end of period 378,070 $ 91.64 ___________ (1) A portion of the vested RSUs delivered were net shares 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. RSUs granted during the six months ended July 2, 2023, vest at specified future dates with only service requirements. The value of RSUs granted in the six months ended July 2, 2023, was $18.2 million and is being recognized over the weighted average requisite service period of 2.0 years. During the six months ended July 2, 2023, 115,499 RSUs vested at a fair value of $10.5 million. Performance-based Restricted Stock Units We have granted certain Performance-based Restricted Stock Units ("PRSUs") under the 2021 Equity Plan and the 2012 Plan. These PRSUs are settled with payouts ranging from zero to 200% of the target award value depending on performance goal achievement. The compensation expense for the PRSUs awarded is based on the fair value of the PRSUs 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 compensation expense for certain PRSUs is determined using the Monte Carlo simulation method. The PRSUs 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. Six Months Ended July 2, 2023 Total Performance Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 310,678 $ 90.15 Granted 91,631 104.24 Performance adjustment (1) 17,139 79.25 Delivered (63,432) 79.25 Withheld to cover (2) (5,224) Forfeited (5,434) 96.37 Outstanding, end of period 345,358 $ 95.41 ___________ (1) PRSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. Certain 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 PRSUs delivered were net shares 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

Restructuring Costs	6 Months Ended
	Jul. 02, 2023
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs In December 2022, we began implementing a plan intended to improve overall business performance that includes the optimization of our manufacturing capacity and reduction of our overhead and selling, general and administration workforce primarily in our North American Residential reportable segment as well as actions in the Architectural reportable segment and in our head offices (collectively, the "2022 Plan"). The optimization of our manufacturing capacity involves specific plants in the North American Residential segment and costs associated with the closure of these plants and related headcount reductions. Costs associated with the 2022 Plan include severance and closure charges which continue throughout 2023. As of July 2, 2023, we expect to incur approximately $6 million to $11 million of additional charges related to the 2022 Plan. The following tables summarize the restructuring (benefit) costs recorded for the periods indicated: Three Months Ended July 2, 2023 (In thousands) North American Residential Architectural Corporate & Other Total 2022 Plan $ 2,875 $ 179 $ 11 $ 3,065 Total Restructuring Costs $ 2,875 $ 179 $ 11 $ 3,065 Three Months Ended July 3, 2022 (In thousands) North American Residential Architectural Corporate & Other Total Other $ (90) $ 1 $ 28 $ (61) Total Restructuring (Benefit) Costs $ (90) $ 1 $ 28 $ (61) Six Months Ended July 2, 2023 (In thousands) North American Residential Architectural Corporate & Other Total 2022 Plan $ 5,255 $ 863 $ 625 $ 6,743 Total Restructuring (Benefit) Costs $ 5,255 $ 863 $ 625 $ 6,743 Six Months Ended July 3, 2022 (In thousands) North American Residential Architectural Corporate & Other Total Other $ (181) $ 48 $ 53 $ (80) Total Restructuring (Benefit) Costs $ (181) $ 48 $ 53 $ (80) Cumulative Amount Incurred Through July 2, 2023 (In thousands) North American Residential Architectural Corporate & Other Total 2022 Plan $ 7,386 $ 863 $ 625 $ 8,874 Total Restructuring Costs $ 7,386 $ 863 $ 625 $ 8,874 The changes in the accrual for restructuring by activity were as follows for the periods indicated: (In thousands) January 1, Severance Closure Costs Cash Payments July 2, 2022 Plan $ — $ 5,852 $ 891 $ (6,473) $ 270 Total $ — $ 5,852 $ 891 $ (6,473) $ 270

Income Taxes

Income Taxes	6 Months Ended
	Jul. 02, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate differs from the Canadian statutory rate of 26.13% 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 zero income tax benefit due to the exercise and delivery of share based awards during both the three and six months ended July 2, 2023, compared to zero and $1.1 million of income tax benefit during the three and six months ended July 3, 2022, respectively. On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 ("IRA") into law. The IRA includes several changes to existing tax law, including a minimum tax on adjusted financial statement income of applicable corporations and an excise tax on certain corporate stock buybacks. The tax provisions included in the IRA were generally effective beginning January 1, 2023, and no significant impact to the consolidated financial statements resulted from their adoption as of July 2, 2023.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 02, 2023
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 Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Net income attributable to Masonite $ 48,245 $ 58,515 $ 86,736 $ 126,097 Shares used in computing basic earnings per share 22,071,667 22,525,333 22,127,368 22,803,403 Effect of dilutive securities: Incremental shares issuable under share compensation plans 277,525 179,620 292,667 254,628 Shares used in computing diluted earnings per share 22,349,192 22,704,953 22,420,035 23,058,031 Basic earnings per common share attributable to Masonite $ 2.19 $ 2.60 $ 3.92 $ 5.53 Diluted earnings per common share attributable to Masonite $ 2.16 $ 2.58 $ 3.87 $ 5.47 Anti-dilutive instruments excluded from diluted earnings per common share 180,819 104,332 180,819 79,764 The weighted average number of shares outstanding utilized for the diluted EPS calculation contemplates the exercise of all currently outstanding SARs and the conversion of all RSUs. The dilutive effect of such equity awards is calculated based on the weighted average share price for each fiscal period using the treasury stock method. The Company's Board of Directors has approved five share repurchase authorizations, the most recent being an incremental $200.0 million share repurchase program approved on February 21, 2022. Under this program, the Company may repurchase shares from time to time, depending on market conditions and alternate uses of capital. The timing and

Segment Information

Segment Information	6 Months Ended
	Jul. 02, 2023
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, as applicable: • depreciation; • amortization; • share based compensation expense; • loss (gain) on disposal of property, plant and equipment; • registration and listing fees; • restructuring costs (benefit); • 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 differs from the definitions of EBITDA contained in the indentures governing the 2030 Notes and the 2028 Notes and the credit agreements governing the Term Loan Facility and 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 our reportable 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 July 2, 2023 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 585,422 $ 66,232 $ 92,332 $ 3,087 $ 747,073 Intersegment sales (453) (222) (4,514) — (5,189) Net sales to external customers $ 584,969 $ 66,010 $ 87,818 $ 3,087 $ 741,884 Adjusted EBITDA $ 117,571 $ 2,691 $ 7,286 $ (9,091) $ 118,457 Three Months Ended July 3, 2022 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 608,483 $ 74,172 $ 79,894 $ 4,820 $ 767,369 Intersegment sales (707) (319) (4,469) — (5,495) Net sales to external customers $ 607,776 $ 73,853 $ 75,425 $ 4,820 $ 761,874 Adjusted EBITDA $ 124,974 $ 8,566 $ 78 $ (15,493) $ 118,125 Six Months Ended July 2, 2023 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 1,154,851 $ 129,948 $ 185,193 $ 8,436 $ 1,478,428 Intersegment sales (843) (244) (9,473) — (10,560) Net sales to external customers $ 1,154,008 $ 129,704 $ 175,720 $ 8,436 $ 1,467,868 Adjusted EBITDA $ 225,452 $ 7,842 $ 12,636 $ (21,308) $ 224,622 Six Months Ended July 3, 2022 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 1,177,912 $ 156,011 $ 154,553 $ 11,016 $ 1,499,492 Intersegment sales (1,572) (1,690) (8,139) — (11,401) Net sales to external customers $ 1,176,340 $ 154,321 $ 146,414 $ 11,016 $ 1,488,091 Adjusted EBITDA $ 252,641 $ 20,409 $ (2,820) $ (27,353) $ 242,877 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 Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Net income attributable to Masonite $ 48,245 $ 58,515 $ 86,736 $ 126,097 Plus: Depreciation 22,981 17,244 44,466 34,516 Amortization 7,042 4,296 14,463 8,908 Share based compensation expense 7,103 5,976 13,157 10,695 Loss (gain) on disposal of property, plant and equipment 502 1,454 1,540 (1,400) Restructuring costs (benefit) 3,065 (61) 6,743 (80) Interest expense, net 13,488 10,593 27,740 20,832 Other (income) expense, net (550) (400) (498) (1,815) Income tax expense 14,673 19,649 26,033 43,126 Other items (1) 1,208 — 2,589 — Net income attributable to non-controlling interest 700 859 1,653 1,998 Adjusted EBITDA $ 118,457 $ 118,125 $ 224,622 $ 242,877

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss and Other Comprehensive (Loss) Income	6 Months Ended
	Jul. 02, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss and Other Comprehensive (Loss) Income	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 Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Accumulated foreign currency translation losses, beginning of period $ (123,044) $ (100,152) $ (132,001) $ (96,919) Foreign currency translation gain (loss) 8,541 (28,392) 17,490 (30,497) Income tax expense (benefit) on foreign currency translation loss 10 (24) 10 (13) Less: foreign currency translation (loss) gain attributable to non-controlling interest 164 (498) 156 641 Accumulated foreign currency translation losses, end of period (114,657) (128,070) (114,657) (128,070) Accumulated pension and other post-retirement adjustments, beginning of period (10,077) (4,658) (10,223) (4,663) Amortization of actuarial net losses 192 6 383 12 Income tax expense on amortization of actuarial net losses (39) 1 (84) — Accumulated pension and other post-retirement adjustments (9,924) (4,651) (9,924) (4,651) Accumulated other comprehensive loss $ (124,581) $ (132,721) $ (124,581) $ (132,721) Other comprehensive income (loss), net of tax $ 8,704 $ (28,409) $ 17,799 $ (30,498) Less: other comprehensive income (loss) attributable to non-controlling interest 164 (498) 156 641 Other comprehensive income (loss) attributable to Masonite $ 8,540 $ (27,911) $ 17,643 $ (31,139) Cumulative translation adjustments are reclassified out of accumulated other comprehensive loss into loss on disposal of subsidiaries in the condensed consolidated statements of income and comprehensive income. Actuarial net losses are reclassified out of accumulated other comprehensive loss into cost of goods sold in the condensed consolidated statements of income and comprehensive income.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jul. 02, 2023
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: Six Months Ended (In thousands) July 2, 2023 July 3, 2022 Transactions involving cash: Interest paid $ 26,855 $ 20,500 Interest received 4,281 404 Income taxes paid 49,551 47,453 Income tax refunds 3,569 919 Cash paid for operating lease liabilities 19,189 16,430 Cash paid for finance lease liabilities 709 654 Non-cash transactions: Right-of-use assets acquired under operating leases 48,425 2,931 Holdback of portion of Endura purchase payable 18,000 — The following reconciles total cash, cash equivalents and restricted cash as of the dates indicated: July 2, 2023 January 1, 2023 Cash and cash equivalents $ 317,157 $ 296,922 Restricted cash 11,587 11,999 Total cash, cash equivalents and restricted cash $ 328,744 $ 308,921 Property, plant and equipment additions in accounts payable were $11.3 million and $10.4 million as of July 2, 2023, and January 1, 2023, respectively. During the fourth quarter of 2018, we provided debt financing to a distribution company via an interest-bearing note that was scheduled to mature in 2028. The interest-bearing note receivable was carried at amortized cost, with the interest payable in kind at the election of the borrower. The note receivable balance was $12.6 million as of January 1, 2023, and was recorded in the consolidated balance sheets as a component of prepaid expenses and other assets. On January 26, 2023, the note receivable was redeemed and fully repaid.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jul. 02, 2023
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 carrying amount of our Term Loan Facility approximates fair value as the interest rates are variable and reflective of market rates. The estimated fair values and carrying values of our long-term senior note debt instruments were as follows for the periods indicated: July 2, 2023 January 1, 2023 (In thousands) Fair Value Carrying Value Fair Value Carrying Value 3.50% senior unsecured notes due 2030 $ 315,874 $ 371,407 $ 303,870 $ 371,136 5.375% senior unsecured notes due 2028 $ 475,735 $ 496,238 $ 462,495 $ 495,868 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Pay vs Performance Disclosure
Net income attributable to Masonite	$ 48,245	$ 58,515	$ 86,736	$ 126,097

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jul. 02, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business Overview and Signifi_2

Business Overview and Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 02, 2023
Accounting Policies [Abstract]
Adoption of Recent Accounting Pronouncements	Adoption of Recent Accounting Pronouncements In December 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2021-10, "Government Assistance," which requires annual disclosures that increase the transparency of transactions involving government grants, including (1) the types of transactions, (2) the accounting for those transactions and (3) the effect of those transactions on an entity's financial statements. The guidance is effective for annual periods beginning after December 15, 2021, with early adoption permitted. We adopted the new guidance as of January 3, 2022, the beginning of fiscal year 2022, and the adoption did not have a material impact on our financial statements. In October 2021, the FASB issued ASU 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers," which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with ASU 2014-09, "Revenue from Contracts with Customers" as if the entity had originated the contracts. We adopted the new guidance as of January 1, 2023, the beginning of fiscal year 2023, and the adoption did not have a material impact on our financial statements.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jul. 02, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The allocation of the purchase price to assets acquired and liabilities assumed is as follows: (In thousands) Initial Purchase Price Allocation Measurement Period Adjustments Preliminary Purchase Price Allocation Cash acquired $ 32,501 $ — $ 32,501 Accounts receivable, net 7,871 — 7,871 Inventories, net 44,183 35 44,218 Property, plant and equipment, net 54,373 10,576 64,949 Goodwill 189,938 (2,230) 187,708 Intangible assets 135,800 (7,400) 128,400 Accounts payable and accrued expenses (15,088) — (15,088) Deferred income taxes (44,345) (946) (45,291) Other assets and liabilities, net 2,868 (35) 2,833 Total purchase price $ 408,101 $ — $ 408,101
Schedule of Finite-Lived Intangible Assets	Intangible assets acquired from the Endura acquisition consist of the following: Fair Value Expected Useful Life (Years) Customer relationships $ 108,600 10 Trademarks and trade names 6,600 10 Patents 13,200 12 Total intangible assets acquired $ 128,400
Schedule of Pro Forma Information	The following unaudited pro forma financial information represents the consolidated financial information as if the Endura acquisition had been included in our consolidated results beginning on January 2, 2022, the first day of the fiscal year prior to the respective acquisition date. The pro forma results have been calculated after adjusting the results of the acquired entities to remove intercompany transactions and to reflect the additional depreciation, amortization and interest expense that would have been charged assuming the fair value adjustments to property, plant and equipment and intangible assets and the additional debt incurred to fund the acquisition had been applied on the first day of the fiscal year prior to the respective acquisition date, together with the consequential tax effects. The pro forma results do not reflect any cost savings, operating synergies or revenue enhancements that the combined companies may achieve as a result of the acquisition; the costs to combine the companies' operations; or the costs necessary to achieve these costs savings, operating synergies and revenue enhancements. As a result, the pro forma information below does not purport to represent actual results had the acquisition been consummated on the date indicated and it is not necessarily indicative of future results of operations. Three Months Ended July 3, 2022 (In thousands) Masonite Endura Pro Forma Adjustments Pro Forma Net sales $ 761,874 $ 73,479 $ (3,216) $ 832,137 Net income attributable to Masonite 58,515 4,097 (7,850) 54,762 Basic earnings per common share $ 2.60 $ 2.43 Diluted earnings per common share $ 2.58 $ 2.41 Six Months Ended July 3, 2022 (In thousands) Masonite Endura Pro Forma Adjustments Pro Forma Net sales $ 1,488,091 $ 146,195 $ (5,820) $ 1,628,466 Net income attributable to Masonite 126,097 7,450 (13,731) 119,816 Basic earnings per common share $ 5.53 $ 5.25 Diluted earnings per common share $ 5.47 $ 5.20

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 02, 2023
Inventory Disclosure [Abstract]
Inventories	The amounts of inventory on hand were as follows as of the dates indicated: (In thousands) July 2, 2023 January 1, 2023 Raw materials $ 256,799 $ 320,553 Finished goods 137,115 95,005 Provision for obsolete or aged inventory (15,209) (8,730) Inventories, net $ 378,705 $ 406,828

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jul. 02, 2023
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	The details of our accrued expenses were as follows as of the dates indicated: (In thousands) July 2, 2023 January 1, 2023 Accrued payroll $ 71,462 $ 69,224 Accrued rebates 56,660 50,200 Current portion of operating lease liabilities 26,397 24,372 Accrued interest 19,765 16,480 Other accruals 53,549 62,770 Total accrued expenses $ 227,833 $ 223,046

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jul. 02, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	(In thousands) July 2, 2023 January 1, 2023 Senior unsecured notes, interest rate of 3.50% , due 2030 $ 375,000 $ 375,000 Senior unsecured notes, interest rate of 5.375% , due 2028 500,000 500,000 Term Loan Facility, interest rate of SOFR plus 2.25%, due 2027 240,625 — Debt issuance costs (10,942) (8,884) Total debt (including current portion) 1,104,683 866,116 Less: debt due within one year (37,500) — Total long-term debt (excluding current portion) $ 1,067,183 $ 866,116

Share Based Compensation Plans

Share Based Compensation Plans (Tables)	6 Months Ended
	Jul. 02, 2023
Share-Based Payment Arrangement [Abstract]
Stock Appreciation Rights Award Activity	Six Months Ended July 2, 2023 Stock Appreciation Rights Aggregate Intrinsic Value (in thousands) Weighted Average Exercise Price Average Remaining Contractual Life (Years) Outstanding, beginning of period 184,205 $ 2,153 $ 74.75 7.0 Granted 30,946 88.99 Exercised — — — Cancelled and forfeited — — Outstanding, end of period 215,151 $ 5,646 $ 76.79 7.0 Exercisable, end of period 153,236 $ 4,912 $ 70.93 6.1
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: 2023 Grants SAR value (model conclusion) $ 32.63 Risk-free rate 4.1 % Expected dividend yield 0.0 % Expected volatility 28.4 % Expected term (years) 6.0
Restricted Stock Units Award Activity	Six Months Ended July 2, 2023 Total Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 313,753 $ 92.85 Granted 203,445 89.37 Delivered (96,879) 91.05 Withheld to cover (1) (18,620) Forfeited (23,629) 90.99 Outstanding, end of period 378,070 $ 91.64 ___________ (1) A portion of the vested RSUs delivered were net shares 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.
Share-Based Payment Arrangement, Performance Shares, Activity	Six Months Ended July 2, 2023 Total Performance Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Outstanding, beginning of period 310,678 $ 90.15 Granted 91,631 104.24 Performance adjustment (1) 17,139 79.25 Delivered (63,432) 79.25 Withheld to cover (2) (5,224) Forfeited (5,434) 96.37 Outstanding, end of period 345,358 $ 95.41 ___________ (1) PRSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. Certain 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 PRSUs delivered were net shares 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)	6 Months Ended
	Jul. 02, 2023
Restructuring and Related Activities [Abstract]
Summary of Restructuring (Benefit) Costs by Plan	The following tables summarize the restructuring (benefit) costs recorded for the periods indicated: Three Months Ended July 2, 2023 (In thousands) North American Residential Architectural Corporate & Other Total 2022 Plan $ 2,875 $ 179 $ 11 $ 3,065 Total Restructuring Costs $ 2,875 $ 179 $ 11 $ 3,065 Three Months Ended July 3, 2022 (In thousands) North American Residential Architectural Corporate & Other Total Other $ (90) $ 1 $ 28 $ (61) Total Restructuring (Benefit) Costs $ (90) $ 1 $ 28 $ (61) Six Months Ended July 2, 2023 (In thousands) North American Residential Architectural Corporate & Other Total 2022 Plan $ 5,255 $ 863 $ 625 $ 6,743 Total Restructuring (Benefit) Costs $ 5,255 $ 863 $ 625 $ 6,743 Six Months Ended July 3, 2022 (In thousands) North American Residential Architectural Corporate & Other Total Other $ (181) $ 48 $ 53 $ (80) Total Restructuring (Benefit) Costs $ (181) $ 48 $ 53 $ (80) Cumulative Amount Incurred Through July 2, 2023 (In thousands) North American Residential Architectural Corporate & Other Total 2022 Plan $ 7,386 $ 863 $ 625 $ 8,874 Total Restructuring Costs $ 7,386 $ 863 $ 625 $ 8,874
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 1, Severance Closure Costs Cash Payments July 2, 2022 Plan $ — $ 5,852 $ 891 $ (6,473) $ 270 Total $ — $ 5,852 $ 891 $ (6,473) $ 270

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 02, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	(In thousands, except share and per share information) Three Months Ended Six Months Ended July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Net income attributable to Masonite $ 48,245 $ 58,515 $ 86,736 $ 126,097 Shares used in computing basic earnings per share 22,071,667 22,525,333 22,127,368 22,803,403 Effect of dilutive securities: Incremental shares issuable under share compensation plans 277,525 179,620 292,667 254,628 Shares used in computing diluted earnings per share 22,349,192 22,704,953 22,420,035 23,058,031 Basic earnings per common share attributable to Masonite $ 2.19 $ 2.60 $ 3.92 $ 5.53 Diluted earnings per common share attributable to Masonite $ 2.16 $ 2.58 $ 3.87 $ 5.47 Anti-dilutive instruments excluded from diluted earnings per common share 180,819 104,332 180,819 79,764

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jul. 02, 2023
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 July 2, 2023 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 585,422 $ 66,232 $ 92,332 $ 3,087 $ 747,073 Intersegment sales (453) (222) (4,514) — (5,189) Net sales to external customers $ 584,969 $ 66,010 $ 87,818 $ 3,087 $ 741,884 Adjusted EBITDA $ 117,571 $ 2,691 $ 7,286 $ (9,091) $ 118,457 Three Months Ended July 3, 2022 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 608,483 $ 74,172 $ 79,894 $ 4,820 $ 767,369 Intersegment sales (707) (319) (4,469) — (5,495) Net sales to external customers $ 607,776 $ 73,853 $ 75,425 $ 4,820 $ 761,874 Adjusted EBITDA $ 124,974 $ 8,566 $ 78 $ (15,493) $ 118,125 Six Months Ended July 2, 2023 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 1,154,851 $ 129,948 $ 185,193 $ 8,436 $ 1,478,428 Intersegment sales (843) (244) (9,473) — (10,560) Net sales to external customers $ 1,154,008 $ 129,704 $ 175,720 $ 8,436 $ 1,467,868 Adjusted EBITDA $ 225,452 $ 7,842 $ 12,636 $ (21,308) $ 224,622 Six Months Ended July 3, 2022 (In thousands) North American Residential Europe Architectural Corporate & Other Total Net sales $ 1,177,912 $ 156,011 $ 154,553 $ 11,016 $ 1,499,492 Intersegment sales (1,572) (1,690) (8,139) — (11,401) Net sales to external customers $ 1,176,340 $ 154,321 $ 146,414 $ 11,016 $ 1,488,091 Adjusted EBITDA $ 252,641 $ 20,409 $ (2,820) $ (27,353) $ 242,877
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 Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Net income attributable to Masonite $ 48,245 $ 58,515 $ 86,736 $ 126,097 Plus: Depreciation 22,981 17,244 44,466 34,516 Amortization 7,042 4,296 14,463 8,908 Share based compensation expense 7,103 5,976 13,157 10,695 Loss (gain) on disposal of property, plant and equipment 502 1,454 1,540 (1,400) Restructuring costs (benefit) 3,065 (61) 6,743 (80) Interest expense, net 13,488 10,593 27,740 20,832 Other (income) expense, net (550) (400) (498) (1,815) Income tax expense 14,673 19,649 26,033 43,126 Other items (1) 1,208 — 2,589 — Net income attributable to non-controlling interest 700 859 1,653 1,998 Adjusted EBITDA $ 118,457 $ 118,125 $ 224,622 $ 242,877

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss and Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jul. 02, 2023
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive (Loss) Income	A rollforward of the components of accumulated other comprehensive loss is as follows for the periods indicated: Three Months Ended Six Months Ended (In thousands) July 2, 2023 July 3, 2022 July 2, 2023 July 3, 2022 Accumulated foreign currency translation losses, beginning of period $ (123,044) $ (100,152) $ (132,001) $ (96,919) Foreign currency translation gain (loss) 8,541 (28,392) 17,490 (30,497) Income tax expense (benefit) on foreign currency translation loss 10 (24) 10 (13) Less: foreign currency translation (loss) gain attributable to non-controlling interest 164 (498) 156 641 Accumulated foreign currency translation losses, end of period (114,657) (128,070) (114,657) (128,070) Accumulated pension and other post-retirement adjustments, beginning of period (10,077) (4,658) (10,223) (4,663) Amortization of actuarial net losses 192 6 383 12 Income tax expense on amortization of actuarial net losses (39) 1 (84) — Accumulated pension and other post-retirement adjustments (9,924) (4,651) (9,924) (4,651) Accumulated other comprehensive loss $ (124,581) $ (132,721) $ (124,581) $ (132,721) Other comprehensive income (loss), net of tax $ 8,704 $ (28,409) $ 17,799 $ (30,498) Less: other comprehensive income (loss) attributable to non-controlling interest 164 (498) 156 641 Other comprehensive income (loss) attributable to Masonite $ 8,540 $ (27,911) $ 17,643 $ (31,139)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jul. 02, 2023
Supplemental Cash Flow Elements [Abstract]
Cash and Non-Cash Transactions	Certain cash and non-cash transactions were as follows for the periods indicated: Six Months Ended (In thousands) July 2, 2023 July 3, 2022 Transactions involving cash: Interest paid $ 26,855 $ 20,500 Interest received 4,281 404 Income taxes paid 49,551 47,453 Income tax refunds 3,569 919 Cash paid for operating lease liabilities 19,189 16,430 Cash paid for finance lease liabilities 709 654 Non-cash transactions: Right-of-use assets acquired under operating leases 48,425 2,931 Holdback of portion of Endura purchase payable 18,000 —
Schedule of Cash, Cash Equivalents and Restricted Cash	The following reconciles total cash, cash equivalents and restricted cash as of the dates indicated: July 2, 2023 January 1, 2023 Cash and cash equivalents $ 317,157 $ 296,922 Restricted cash 11,587 11,999 Total cash, cash equivalents and restricted cash $ 328,744 $ 308,921

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jul. 02, 2023
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 senior note debt instruments were as follows for the periods indicated: July 2, 2023 January 1, 2023 (In thousands) Fair Value Carrying Value Fair Value Carrying Value 3.50% senior unsecured notes due 2030 $ 315,874 $ 371,407 $ 303,870 $ 371,136 5.375% senior unsecured notes due 2028 $ 475,735 $ 496,238 $ 462,495 $ 495,868

Business Overview and Signifi_3

Business Overview and Significant Accounting Policies (Details)	Jul. 02, 2023 facility Country
Accounting Policies [Abstract]
Number of manufacturing locations | facility	63
Number of countries | Country	7

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Jan. 03, 2023	Jul. 02, 2023	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Business Acquisition [Line Items]
Holdback of portion of Endura purchase payable				$ 0
Goodwill		$ 257,527	$ 257,527		$ 69,868
Endura
Business Acquisition [Line Items]
Acquired equity interests, percent	100%
Business combination, consideration transferred	$ 408,100
Holdback of portion of Endura purchase payable			18,000
Goodwill	189,938	187,708	187,708
Gross contractual value of acquired trade receivables	$ 8,300
Net sales attributable to Masonite		59,400	119,200
Net income (loss) attributable to Masonite		$ 1,300	$ (3,200)

Acquisitions and Divestitures_3

Acquisitions and Divestitures (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2023	Jan. 03, 2023	Jan. 01, 2023
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill	$ 257,527		$ 69,868
Endura
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash acquired	32,501	$ 32,501
Accounts receivable, net	7,871	7,871
Inventories, net	44,218	44,183
Property, plant and equipment, net	64,949	54,373
Goodwill	187,708	189,938
Intangible assets	128,400	135,800
Accounts payable and accrued expenses	(15,088)	(15,088)
Deferred income taxes	(45,291)	(44,345)
Other assets and liabilities, net	2,833	2,868
Total purchase price	408,101	$ 408,101
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments [Abstract]
Inventories, net	35
Property, plant and equipment, net	10,576
Goodwill	(2,230)
Intangible assets	(7,400)
Deferred income taxes	(946)
Other assets and liabilities, net	(35)
Total purchase price	$ 0

Acquisitions and Divestitures_4

Acquisitions and Divestitures (Schedule of Finite-Lived Intangible Assets) (Details) - Endura $ in Thousands	Jan. 03, 2023 USD ($)
Business Acquisition [Line Items]
Fair value	$ 128,400
Customer relationships
Business Acquisition [Line Items]
Fair value	$ 108,600
Expected useful life	10 years
Trademarks and trade names
Business Acquisition [Line Items]
Fair value	$ 6,600
Expected useful life	10 years
Patents
Business Acquisition [Line Items]
Fair value	$ 13,200
Expected useful life	12 years

Acquisitions and Divestitures_5

Acquisitions and Divestitures (Schedule of Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net sales	$ 741,884	$ 761,874	$ 1,467,868	$ 1,488,091
Net income attributable to Masonite	$ 48,245	$ 58,515	$ 86,736	$ 126,097
Basic earnings per common share attributable to Masonite (in dollars per share)	$ 2.19	$ 2.60	$ 3.92	$ 5.53
Diluted earnings per common share attributable to Masonite (in dollars per share)	$ 2.16	$ 2.58	$ 3.87	$ 5.47
Endura
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net sales		$ 73,479	$ 146,195
Net income attributable to Masonite		4,097	7,450
Pro forma revenue		832,137	1,628,466
Pro forma net income		$ 54,762	$ 119,816
Pro forma earnings per share, basic (in dollars per share)		$ 2.43	$ 5.25
Pro forma earnings per share, diluted (in dollars per share)		$ 2.41	$ 5.20
Endura | Intercompany Eliminations
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net sales		$ (3,216)	$ (5,820)
Net income attributable to Masonite		$ (7,850)	$ (13,731)

Accounts Receivable (Details)

Accounts Receivable (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 02, 2023 USD ($) Customer	Jan. 01, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts | $	$ 2,600	$ 2,500
Accounts Receivable | Customer Concentration Risk | Ten Largest Customers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, customers | Customer	10
Concentration risk, percent	57.80%	62.30%
Accounts Receivable | Customer Concentration Risk | The Home Depot, Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percent	10%	10%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 256,799	$ 320,553
Finished goods	137,115	95,005
Provision for obsolete or aged inventory	(15,209)	(8,730)
Inventories, net	$ 378,705	$ 406,828

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023
Accrued Expenses [Abstract]
Accrued payroll	$ 71,462	$ 69,224
Accrued rebates	56,660	50,200
Current portion of operating lease liabilities	26,397	24,372
Accrued interest	19,765	16,480
Other accruals	53,549	62,770
Total accrued expenses	$ 227,833	$ 223,046

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023	Jul. 26, 2021	Jul. 25, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ 10,942	$ 8,884
Total debt (including current portion)	1,104,683	866,116
Less: debt due within one year	(37,500)	0
Total long-term debt (excluding current portion)	1,067,183	866,116
Senior Notes | Senior Notes 2030
Debt Instrument [Line Items]
Long-term debt, gross	375,000	375,000
Interest rate stated percentage			3.50%
Senior Notes | Senior Notes Due 2028
Debt Instrument [Line Items]
Long-term debt, gross	500,000	500,000
Interest rate stated percentage				5.375%
Line of Credit | Term Loan A | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross	240,625	$ 0
Debt issuance costs	$ 3,600

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) - USD ($)				3 Months Ended		6 Months Ended
	Jan. 03, 2023	Dec. 13, 2022	Oct. 28, 2022	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jul. 26, 2021	Jul. 25, 2019	Jan. 31, 2019
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt						$ 250,000,000	$ 0
Revolving Credit Facility | ABL Facility 2024
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 250,000,000
Line of credit facility, increase (decrease), net			$ 100,000,000
Revolving credit facility availability				$ 300,600,000		300,600,000
Revolving credit facilities				0		0
Revolving Credit Facility | ABL Facility 2027
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 350,000,000
Proceeds from borrowings on revolving credit facilities	$ 100,000,000
Senior Notes
Debt Instrument [Line Items]
Interest expense				$ 14,100,000	$ 10,400,000	$ 29,500,000	$ 20,700,000
Senior Notes | Senior Notes 2030
Debt Instrument [Line Items]
Interest rate stated percentage								3.50%
Aggregate principal								$ 375,000,000
Senior Notes | Senior Notes Due 2028
Debt Instrument [Line Items]
Interest rate stated percentage									5.375%
Aggregate principal									$ 500,000,000
Line of Credit | Secured Debt | Term Loan A
Debt Instrument [Line Items]
Aggregate principal		$ 250,000,000
Debt instrument, term		5 years
Maximum borrowing capacity		$ 250,000,000
Annual principal payment, percentage		15%
Proceeds from issuance of long-term debt		$ 246,400,000
Line of Credit | Secured Debt | Term Loan A | Adjusted Term Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Line of Credit | Secured Debt | Term Loan A | Adjusted Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Line of Credit | Secured Debt | Term Loan A | Premium Adjusted Term Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		1%
Line of Credit | Secured Debt | Term Loan A | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1%
Line of Credit | Secured Debt | Term Loan A | Applicable Margin
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%

Share Based Compensation Plan_2

Share Based Compensation Plans (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Mar. 10, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 7,103	$ 5,976	$ 13,157	$ 10,695
Share based compensation unrecognized	40,200		$ 40,200
Weighted average remaining requisite service period			1 year 10 months 24 days
Deferred compensation liability	7,500		$ 7,500
Deferred compensation asset	$ 7,100		$ 7,100
2021 Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards not to exceed (in shares)					880,000
Common stock available for future issuance (in shares)	703,883		703,883
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]
Average requisite service period			2 years
Units vested (in shares)			115,499
Fair value of shares vested			$ 10,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value			$ 18,200
Restricted Stock Units (RSUs) | Service Requirement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			65%
Restricted Stock Units (RSUs) | Service and Performance Requirements
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			35%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Average requisite service period			3 years
Units vested (in shares)			68,656
Fair value of shares vested			$ 5,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Fair Value			$ 9,600

Share Based Compensation Plan_3

Share Based Compensation Plans (SARs) (Details) - Stock Appreciation Rights (SARs) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 02, 2023	Jan. 01, 2023
Stock Appreciation Rights
Outstanding, beginning of period (in shares)	184,205
Granted (in shares)	30,946
Exercised (in shares)	0
Forfeited (in shares)	0
Outstanding, end of period (in shares)	215,151	184,205
Exercisable, shares	153,236
Aggregate Intrinsic Value & Average Remaining Contractual Life
Outstanding, beginning of period, aggregate intrinsic value	$ 2,153
Exercised, aggregate intrinsic value	0
Outstanding, end period, aggregate intrinsic value	5,646	$ 2,153
Exercisable, aggregate intrinsic value	$ 4,912
Outstanding, beginning of period, weighted average remaining contractual term	7 years	7 years
Outstanding, end of period, weighted average remaining contractual term	7 years	7 years
Exercisable, weighted average remaining contractual term	6 years 1 month 6 days
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 74.75
Granted (in dollars per share)	88.99
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Outstanding, end of period (in dollars per share)	76.79	$ 74.75
Exercisable, end of period (in dollars per share)	$ 70.93

Share Based Compensation Plan_4

Share Based Compensation Plans (Weighted Average Grant Date Assumptions) (Details) - Stock Appreciation Rights (SARs)	6 Months Ended
	Jul. 02, 2023 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SAR value (model conclusion)	$ 32.63
Risk-free rate	4.10%
Expected dividend yield	0%
Expected volatility	28.40%
Expected term (years)	6 years

Share Based Compensation Plan_5

Share Based Compensation Plans (RSUs) (Details)	6 Months Ended
	Jul. 02, 2023 $ / shares shares
Restricted Stock Units (RSUs)
Total Restricted Stock Units Outstanding
Outstanding, beginning of period (in shares)	313,753
Granted (in shares)	203,445
Delivered (in shares)	(96,879)
Withheld to cover (in shares)	(18,620)
Forfeited (in shares)	(23,629)
Outstanding, end of period (in shares)	378,070
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 92.85
Granted (in dollars per share) | $ / shares	89.37
Delivered (in dollars per share) | $ / shares	91.05
Forfeited (in dollars per share) | $ / shares	90.99
Outstanding, end of period (in dollars per share) | $ / shares	$ 91.64
Performance Shares
Total Restricted Stock Units Outstanding
Outstanding, beginning of period (in shares)	310,678
Granted (in shares)	91,631
Performance adjustment (in shares)	17,139
Delivered (in shares)	(63,432)
Withheld to cover (in shares)	(5,224)
Forfeited (in shares)	(5,434)
Outstanding, end of period (in shares)	345,358
Weighted Average Grant Date Fair Value
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 90.15
Granted (in dollars per share) | $ / shares	104.24
Performance adjustment (in dollars per share) | $ / shares	79.25
Delivered (in dollars per share) | $ / shares	79.25
Forfeited (in dollars per share) | $ / shares	96.37
Outstanding, end of period (in dollars per share) | $ / shares	$ 95.41

Restructuring Costs (Narrative)

Restructuring Costs (Narrative) (Details) $ in Millions	Jul. 02, 2023 USD ($)
Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost remaining	$ 6
Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring cost remaining	$ 11

Restructuring Costs (Schedule o

Restructuring Costs (Schedule of Restructuring Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	$ 3,065	$ (61)	$ 6,743	$ (80)
Cumulative amount incurred to date	8,874		8,874
Restructuring reserve	(270)		(270)		$ 0
Cash payments			(6,473)
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)			5,852
Closure Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)			891
North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	2,875		5,255
Cumulative amount incurred to date	7,386		7,386
Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	179		863
Cumulative amount incurred to date	863		863
Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	11		625
Cumulative amount incurred to date	625		625
Twenty Twenty Two Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	3,065		6,743
Cumulative amount incurred to date	8,874		8,874
Restructuring reserve	(270)		(270)		$ 0
Cash payments			(6,473)
Twenty Twenty Two Restructuring Plans | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)			5,852
Twenty Twenty Two Restructuring Plans | Closure Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)			891
Twenty Twenty Two Restructuring Plans | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	2,875		5,255
Cumulative amount incurred to date	7,386		7,386
Twenty Twenty Two Restructuring Plans | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	179		863
Cumulative amount incurred to date	863		863
Twenty Twenty Two Restructuring Plans | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)	11		625
Cumulative amount incurred to date	$ 625		$ 625
2018 - 2021 Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)		(61)		(80)
2018 - 2021 Restructuring Plans | North American Residential
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)		(90)		(181)
2018 - 2021 Restructuring Plans | Architectural
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)		1		48
2018 - 2021 Restructuring Plans | Corporate & Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefit)		$ 28		$ 53

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Income Tax Disclosure [Abstract]
Canadian federal statutory rate		26.13%
Income tax benefit due to the exercise and delivery of share-based awards	$ 0	$ 0	$ 1.1

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to Masonite	$ 48,245	$ 58,515	$ 86,736	$ 126,097
Shares used in computing basic earnings per share	22,071,667	22,525,333	22,127,368	22,803,403
Effect of dilutive securities:
Incremental shares issuable under share compensation plans	277,525	179,620	292,667	254,628
Shares used in computing diluted earnings per share	22,349,192	22,704,953	22,420,035	23,058,031
Basic earnings per common share attributable to Masonite (in dollars per share)	$ 2.19	$ 2.60	$ 3.92	$ 5.53
Diluted earnings per common share attributable to Masonite (in dollars per share)	$ 2.16	$ 2.58	$ 3.87	$ 5.47
Stock Appreciation Rights (SARs)
Effect of dilutive securities:
Anti-dilutive instruments excluded from diluted earnings per common share (in shares)	180,819	104,332	180,819	79,764

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details)	3 Months Ended		12 Months Ended
	Jul. 03, 2022 shares	Apr. 03, 2022 USD ($) shares	Jan. 01, 2023 authorization $ / shares shares	Feb. 21, 2022 shares
Equity, Class of Treasury Stock [Line Items]
Number of share repurchase authorizations | authorization			5
Number of shares authorized to be repurchased (in shares) | shares				200,000,000
Accelerated Share Repurchase
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount | $		$ 100,000,000
Share repurchases, settlement (payment) | $		$ 100,000,000
Treasury stock, acquired (in shares) | shares	319,678	848,087	1,167,765
Treasury stock, acquired (in dollars per share) | $ / shares			$ 85.63

Segment Information (Geographic

Segment Information (Geographic Segments Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 741,884	$ 761,874	$ 1,467,868	$ 1,488,091
Adjusted EBITDA	118,457	118,125	224,622	242,877
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	747,073	767,369	1,478,428	1,499,492
Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(5,189)	(5,495)	(10,560)	(11,401)
North American Residential
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	584,969	607,776	1,154,008	1,176,340
Adjusted EBITDA	117,571	124,974	225,452	252,641
North American Residential | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	585,422	608,483	1,154,851	1,177,912
North American Residential | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(453)	(707)	(843)	(1,572)
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	66,010	73,853	129,704	154,321
Adjusted EBITDA	2,691	8,566	7,842	20,409
Europe | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	66,232	74,172	129,948	156,011
Europe | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(222)	(319)	(244)	(1,690)
Architectural
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	87,818	75,425	175,720	146,414
Adjusted EBITDA	7,286	78	12,636	(2,820)
Architectural | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	92,332	79,894	185,193	154,553
Architectural | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	(4,514)	(4,469)	(9,473)	(8,139)
Corporate & Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	3,087	4,820	8,436	11,016
Adjusted EBITDA	(9,091)	(15,493)	(21,308)	(27,353)
Corporate & Other | Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	3,087	4,820	8,436	11,016
Corporate & Other | Intersegment Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Segment Information (Reconcilia

Segment Information (Reconciliation of Consolidated Adjusted EBITDA to Net Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022
Segment Reporting [Abstract]
Net income attributable to Masonite	$ 48,245	$ 58,515	$ 86,736	$ 126,097
Depreciation	22,981	17,244	44,466	34,516
Amortization	7,042	4,296	14,463	8,908
Share based compensation expense	7,103	5,976	13,157	10,695
Loss (gain) on disposal of property, plant and equipment	502	1,454	1,540	(1,400)
Restructuring costs (benefit)	3,065	(61)	6,743	(80)
Interest expense, net	13,488	10,593	27,740	20,832
Other (income) expense, net	(550)	(400)	(498)	(1,815)
Income tax expense	14,673	19,649	26,033	43,126
Other items	1,208	0	2,589	0
Net income attributable to non-controlling interest	700	859	1,653	1,998
Adjusted EBITDA	$ 118,457	$ 118,125	$ 224,622	$ 242,877

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss and Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022	Jul. 02, 2023	Jul. 03, 2022	Jan. 01, 2023
Accumulated Foreign Currency Translation Gains (Losses) [Roll Forward]
Accumulated foreign currency translation losses, beginning of period	$ (123,044)	$ (100,152)	$ (132,001)	$ (96,919)
Foreign currency translation gain (loss)	8,541	(28,392)	17,490	(30,497)
Income tax expense (benefit) on foreign currency translation loss	10	(24)	10	(13)
Less: foreign currency translation (loss) gain attributable to non-controlling interest	164	(498)	156	641
Accumulated foreign currency translation losses, end of period	(114,657)	(128,070)	(114,657)	(128,070)
Accumulated Amortization of Actuarial Net Losses [Roll Forward]
Accumulated pension and other post-retirement adjustments, beginning of period	(10,077)	(4,658)	(10,223)	(4,663)
Amortization of actuarial net losses	192	6	383	12
Income tax expense on amortization of actuarial net losses	39	(1)	84	0
Accumulated pension and other post-retirement adjustments	(9,924)	(4,651)	(9,924)	(4,651)
Accumulated other comprehensive loss	(124,581)	(132,721)	(124,581)	(132,721)	$ (142,224)
Other comprehensive income (loss), net of tax	8,704	(28,409)	17,799	(30,498)
Less: other comprehensive income (loss) attributable to non-controlling interest	164	(498)	156	641
Other comprehensive income (loss) attributable to Masonite	$ 8,540	$ (27,911)	$ 17,643	$ (31,139)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Cash and Non-Cash Transactions) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2023	Jul. 03, 2022
Transactions involving cash:
Interest paid	$ 26,855	$ 20,500
Interest received	4,281	404
Income taxes paid	49,551	47,453
Income tax refunds	3,569	919
Cash paid for operating lease liabilities	19,189	16,430
Cash paid for finance lease liabilities	709	654
Non-cash transactions:
Right-of-use assets acquired under operating leases	$ 48,425	2,931
Holdback of portion of Endura purchase payable		$ 0

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023	Jul. 03, 2022	Jan. 02, 2022
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 317,157	$ 296,922
Restricted cash	11,587	11,999
Total cash, cash equivalents and restricted cash	$ 328,744	$ 308,921	$ 242,640	$ 391,505

Supplemental Cash Flow Inform_5

Supplemental Cash Flow Information (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jul. 02, 2023	Jan. 01, 2023
Cash and Cash Equivalents [Abstract]
Property, plant and equipment, additions	$ 11.3	$ 10.4
Financing Receivable, after Allowance for Credit Loss, Current		$ 12.6

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - Senior Notes - USD ($) $ in Thousands	Jul. 02, 2023	Jan. 01, 2023	Jul. 26, 2021	Jul. 25, 2019
Senior Notes 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate stated percentage			3.50%
Senior Notes 2030 | Fair Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	$ 315,874	$ 303,870
Senior Notes 2030 | Carrying Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	371,407	371,136
Senior Notes Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate stated percentage				5.375%
Senior Notes Due 2028 | Fair Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	475,735	462,495
Senior Notes Due 2028 | Carrying Value | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair value of senior notes	$ 496,238	$ 495,868