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Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity
 6 Months Ended
Jul. 04, 2026
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity Accumulated Other Comprehensive Income (Loss) and Shareholders’ Equity
The following tables summarize the components of accumulated other comprehensive income (loss) and the changes in accumulated other comprehensive income (loss), net of tax, as applicable:
Foreign Currency Translation AdjustmentUnrealized Gains (Losses) on Debt SecuritiesPension and Post-retirement LiabilitiesDerivative Financial InstrumentAccumulated Other Comprehensive Income (Loss)
Balance as of January 3, 2026$1.6 $0.1 $3.3 $(1.5)$3.5 
Other comprehensive income (loss) before reclassifications(7.2)(0.2)— 0.7 (6.7)
Tax (expense) or benefit— 0.0 — (0.2)(0.1)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax— — — 0.4 0.4 
Balance as of July 4, 2026$(5.6)$(0.0)$3.3 $(0.5)$(2.9)
Amounts in parentheses indicate reductions to equity.

Foreign Currency Translation AdjustmentUnrealized Gains (Losses) on Debt SecuritiesPension and Post-retirement LiabilitiesDerivative Financial InstrumentAccumulated Other Comprehensive Income (Loss)
Balance as of December 28, 2024$(6.9)$(0.1)$(0.1)$(1.1)$(8.3)
Other comprehensive income (loss) before reclassifications0.5 0.2 — (1.0)(0.3)
Tax (expense) or benefit— (0.0)— 0.2 0.2 
Amounts reclassified from accumulated other comprehensive income (loss), net of tax5.7 — 2.0 0.1 7.9 
Balance as of June 28, 2025$(0.6)$0.0 $2.0 $(1.8)$(0.4)
Amounts in parentheses indicate reductions to equity.

Interest Rate Swap

During the normal course of business, the Corporation is subject to market risk associated with interest rate movements. Interest rate risk arises from variable interest debt obligations. Interest rate swap derivative instruments are periodically held and used by the Corporation as a tool for managing interest rate risk. They are not used for trading or speculative purposes.

In November 2023, the Corporation entered into an interest rate swap transaction to hedge $100 million of outstanding variable-rate borrowings against future interest rate volatility. Under the terms of this interest rate swap, the Corporation pays a fixed rate of 4.7 percent and receives a one-month Secured Overnight Financing Rate (SOFR) on a $100 million notional value expiring June 14, 2027. As of July 4, 2026, the fair value of the Corporation’s interest rate swap liability was $0.8 million. See "Note 9. Fair Value Measurements of Financial Instruments." The unrealized change in value of the interest rate swap is reported net of tax as $0.5 million in "Accumulated other comprehensive income (loss)" in the Condensed Consolidated Balance Sheets.
The following table details the reclassifications from accumulated other comprehensive income (loss):
Three Months EndedSix Months Ended
Details about Accumulated Other Comprehensive Income (Loss) ComponentsAffected Line Item in the Statement Where Net Income is PresentedJuly 4,
2026		June 28,
2025		July 4,
2026		June 28,
2025
Derivative financial instrument
Interest rate swapInterest expense, net$(0.3)$(0.1)$(0.5)$(0.2)
Income taxes0.1 0.0 0.1 0.0 
Pension and post-retirement liabilities
Pension settlementSelling and administrative expenses— (2.7)— (2.7)
Income taxes— 0.7 — 0.7 
Foreign currency translation
HNI India divestitureRestructuring, impairment, and loss on divestiture— (5.7)— (5.7)
Net of tax$(0.2)$(7.9)$(0.4)$(7.9)
Amounts in parentheses indicate reductions to profit.

Dividend

The Corporation declared and paid cash dividends per common share as follows:
Six Months Ended
July 4,
2026		June 28,
2025
Dividends per common share$0.69 $0.67 

Stock Repurchase

The following table summarizes shares repurchased and settled by the Corporation:
Six Months Ended
July 4,
2026		June 28,
2025
Shares repurchased— 1.7 
Average price per share$— $45.75 
Cash purchase price$— $(79.9)
Purchases unsettled as of quarter end— 0.4 
Prior year purchases settled in current year— (0.2)
Shares repurchased per cash flow$— $(79.8)

There was no stock repurchase activity during the three and six months ended July 4, 2026. As of July 4, 2026, $84.3 million of the Corporation’s stock repurchase authorization by the board of directors remained available.