STOCKHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCKHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION | STOCKHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION Income Per Share The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income per share:
The weighted-average number of restricted stock units, performance stock units and stock options excluded from the computation of diluted income per share because the assumed proceeds for these instruments exceed the average market value of the underlying common stock for the related period were 0.110 and 0.182, respectively, for the three months ended June 27, 2026, and 0.093 and 0.170, respectively, for the six months ended June 27, 2026. The weighted-average number of restricted stock units, performance stock units and stock options excluded from the computation of diluted income per share because the assumed proceeds for these instruments exceed the average market value of the underlying common stock for the related period were 0.151 and 0.265, respectively, for the three months ended June 28, 2025, and 0.133 and 0.251, respectively, for the six months ended June 28, 2025. Long-Term Incentive Compensation Long-term incentive compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2026 is included in our 2025 Annual Report on Form 10-K. Awards granted on March 2, 2026 to executive officers and other members of senior management were comprised of performance stock units (“PSU’s”), stock options, and time-based restricted stock units (“RSU’s”), while other eligible employees were granted PSU’s and RSU’s. The PSU’s are eligible to vest at the end of a three-year performance period, with performance based on the total return of our stock over the three-year performance period against a peer group within the combined S&P 600 Small Cap Capital Goods Index and S&P 400 Mid Cap Capital Goods Index. Stock options and RSU’s vest ratably over the three-year period subsequent to the date of grant. Effective May 12, 2026, we granted 0.006 RSU’s to our non-employee directors, which vest in their entirety immediately prior to the annual meeting of stockholders in May 2027. Compensation expense within income from continuing operations related to long-term incentive awards totaled $4.3 and $3.9 for the three months ended June 27, 2026 and June 28, 2025, respectively, and $8.0 and $7.6 for the six months ended June 27, 2026 and June 28, 2025, respectively. The related tax benefit was $0.7 for the three months ended June 27, 2026 and June 28, 2025, respectively, and $1.3 for the six months ended June 27, 2026 and June 28, 2025, respectively. Repurchases of Common Stock On May 12, 2026, our Board of Directors authorized management, in its sole discretion, to repurchase, in any fiscal year, up to $100.0 of our common stock, subject to maintaining compliance with all covenants of our senior credit agreement. No share repurchases were effected pursuant to this and prior authorizations during the three and six months ended June 27, 2026. Accumulated Other Comprehensive Income The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended June 27, 2026 were as follows:
__________________________ (1)Net of tax provision of $0.1 and $0.0 as of June 27, 2026 and March 28, 2026, respectively. (2)Net of tax provision of $0.0 as of June 27, 2026 and March 28, 2026. The balances as of June 27, 2026 and March 28, 2026 include unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the six months ended June 27, 2026 were as follows:
__________________________ (1)Net of tax provision of $0.1 and $0.0 as of June 27, 2026 and December 31, 2025, respectively. (2)Net of tax provision of $0.0 as of June 27, 2026 and December 31, 2025. The balances as of June 27, 2026 and December 31, 2025 include unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended June 28, 2025 were as follows:
(1)Net of tax provision of $0.5 and $0.4 as of June 28, 2025 and March 29, 2025, respectively. (2)Net of tax provision of $0.5 and $0.8 as of June 28, 2025 and March 29, 2025, respectively. The balances as of June 28, 2025 and March 29, 2025 include unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the six months ended June 28, 2025 were as follows:
(1)Net of tax provision of $0.5 and $0.7 as of June 28, 2025 and December 31, 2024, respectively. (2)Net of tax provision of $0.5 and $1.0 as of June 28, 2025 and December 31, 2024, respectively. The balances as of June 28, 2025 and December 31, 2024 include unamortized prior service credits. The following summarizes amounts reclassified from each component of accumulated other comprehensive income for the three months ended June 27, 2026 and June 28, 2025:
The following summarizes amounts reclassified from each component of accumulated other comprehensive income for the six months ended June 27, 2026 and June 28, 2025:
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