v3.22.4
Stockholder's Equity/Members' Interest
 12 Months Ended
Dec. 31, 2022
Schedule of Capitalization, Equity [Line Items]  
Stockholder's Equity Stockholders’ Equity
 
Our capital stock consists of 1.0 billion shares of $0.01 par value Class A common stock authorized, of which 118,408,655 shares were issued and outstanding as of December 31, 2022. We also have authorized 250 million shares of $0.01 par value Class B common stock, of which 99 shares were issued and outstanding as of December 31, 2022. The Class B common stock entitles holders thereof, who are also holders of LP Units, with a number of votes that is equal to the number of LP Units they hold. The Class B common stock does not participate in dividends and does not have any liquidation rights.

In March 2022, our Board of Directors authorized a share repurchase program, whereby we can repurchase up to $250 million of our Class A common stock. During the nine months ended October 1, 2022, we repurchased 3.4 million shares of Class A common stock for $101 million. These shares were retired upon purchase.
 
From time to time, limited partners of Summit Holdings exchange their LP Units for shares of Class A common stock of Summit Inc. The following table summarizes the changes in our ownership of Summit Holdings:
 Summit Inc. Shares (Class A)LP UnitsTotalSummit Inc. Ownership Percentage
Balance — January 2, 2021 (1)116,369,809 2,873,170 119,242,979 97.6 %
Exchanges during period1,559,164 (1,559,164)— 
Stock option exercises1,745,940 — 1,745,940 
Other equity transactions1,009,409 — 1,009,409 
Balance — January 1, 2022 (1)120,684,322 1,314,006 121,998,328 98.9 %
Exchanges during period2,002 (2,002)— 
Stock option exercises10,691 — 10,691 
Repurchases of common stock(3,427,510)— (3,427,510)
Other equity transactions1,139,150 — 1,139,150 
Balance — December 31, 2022118,408,655 1,312,004 119,720,659 98.9 %
______________________
(1)The December 28, 2019 and January 1, 2022 balances of Summit Inc. Class A Shares of 116,369,809 and 120,684,322, respectively, are shown to reflect the retroactive application of 1,979,214 shares of Class A common stock issued as a stock dividend on December 29, 2022.

Accumulated other comprehensive income (loss) - The changes in each component of accumulated other comprehensive income (loss) consisted of the following:
   Accumulated
  Foreign currencyother
 Change intranslationcomprehensive
 retirement plansadjustmentsincome (loss)
Balance — January 2, 2021$533 $4,670 $5,203 
Postretirement liability adjustment, net of tax975 — 975 
Foreign currency translation adjustment, net of tax— 905 905 
Balance — January 1, 2022$1,508 $5,575 $7,083 
Postretirement liability adjustment, net of tax4,848 — 4,848 
Foreign currency translation adjustment, net of tax— (8,847)(8,847)
Balance — December 31, 2022$6,356 $(3,272)$3,084 
Summit Materials, LLC  
Schedule of Capitalization, Equity [Line Items]  
Members' Interest Members’ Interest
 
Summit LLC is a wholly owned indirect subsidiary of Summit Holdings, whose primary owner is Summit Inc. Summit Inc. was formed as a Delaware corporation on September 23, 2014. Its sole material asset is a controlling equity interest in Summit Holdings. Pursuant to a reorganization into a holding company structure (the “Reorganization”) in connection with Summit Inc.’s March 2015 initial public offering, Summit Inc. became a holding corporation operating and controlling all of the business and affairs of Summit Holdings and its subsidiaries, including Summit LLC.
  
Accumulated other comprehensive income (loss) - The changes in each component of accumulated other comprehensive income (loss) consisted of the following:
   Accumulated
  Foreign currencyother
 Change intranslationcomprehensive
 retirement plansadjustmentsincome (loss)
Balance — January 2, 2021$(8,546)$(10,037)$(18,583)
Postretirement liability adjustment1,303 — 1,303 
Foreign currency translation adjustment— 1,254 1,254 
Balance — January 1, 2022$(7,243)$(8,783)$(16,026)
Postretirement liability adjustment6,481 — 6,481 
Foreign currency translation adjustment— (11,831)(11,831)
Balance — December 31, 2022$(762)$(20,614)$(21,376)