Capital Stock |
6 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Equity [Abstract] | |
| Capital Stock | Capital Stock Preferred Stock - Our Board of Directors is authorized to issue Preferred Stock from time to time in one or more series and with such rights, privileges, and preferences as the Board of Directors shall from time to time determine. We have not issued any shares of Preferred Stock. Common Stock - Common Stock includes the basis of outstanding shares plus amounts recorded as additional paid-in capital. Shares outstanding exclude the shares issued to the Employee Benefit Trust that are considered similar to treasury shares and total 193,941 shares at both June 28, 2025 and December 31, 2024, with a total original issuance value of $12.4 million. We record share repurchases on their trade date and reduce shareholders’ equity and increase accounts payable. Repurchased shares are retired, and the excess of the repurchase price over the par value of the shares is charged to retained earnings. On July 28, 2022, the Board of Directors reduced our previous repurchase authorization of $400.0 million to a total aggregate value of $200.0 million with no expiration date. As of June 28, 2025, $175.7 million remained under the repurchase program. During the three and six months ended June 28, 2025, we did not repurchase any shares of our Common Stock. During the three and six months ended June 29, 2024, we repurchased 1,600,000 shares of our Common Stock at an average price of $15.18.
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