INTERFACE INC, 10-Q filed on 5/6/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 30, 2025
May 01, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 30, 2025  
Document Transition Report false  
Entity File Number 001-33994  
Entity Registrant Name INTERFACE INC  
Entity Incorporation, State or Country Code GA  
Entity Tax Identification Number 58-1451243  
Entity Address, Address Line One 1280 West Peachtree Street  
Entity Address, City or Town Atlanta  
Entity Address, State or Province GA  
Entity Address, Postal Zip Code 30309  
City Area Code 770  
Local Phone Number 437-6800  
Title of 12(b) Security Common Stock, $0.10 Par Value Per Share  
Trading Symbol TILE  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   58,610,658
Entity Central Index Key 0000715787  
Amendment Flag false  
Current Fiscal Year End Date --12-28  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2025  
v3.25.1
Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Current assets    
Cash and cash equivalents $ 97,757 $ 99,226
Accounts receivable, net 162,754 171,135
Inventories, net 281,741 260,581
Prepaid expenses and other current assets 37,185 33,355
Total current assets 579,437 564,297
Property, plant and equipment, net 283,783 282,374
Operating lease right-of-use assets 77,845 76,815
Deferred tax asset 25,033 24,624
Goodwill and intangible assets, net 152,282 148,160
Other assets 73,418 74,546
Total assets 1,191,798 1,170,816
Current liabilities    
Accounts payable 82,958 68,943
Accrued expenses 114,009 134,996
Current portion of operating lease liabilities 12,718 12,296
Current portion of long-term debt 487 482
Total current liabilities 210,172 216,717
Long-term debt 302,390 302,275
Operating lease liabilities 69,160 68,092
Deferred income taxes 32,557 31,822
Other long-term liabilities 64,452 62,762
Total liabilities 678,731 681,668
Commitments and contingencies (Note 14)
Shareholders’ equity    
Preferred stock, par value $1.00 per share; 5,000 shares authorized; none issued or outstanding at March 30, 2025 and December 29, 2024 0 0
Common stock, par value $0.10 per share; 120,000 shares authorized; 58,610 and 58,304 shares issued and outstanding at March 30, 2025 and December 29, 2024, respectively 5,861 5,830
Additional paid-in capital 257,416 261,028
Retained earnings 417,802 405,441
Accumulated other comprehensive loss – foreign currency translation (127,483) (143,317)
Accumulated other comprehensive loss – pension liability (40,529) (39,834)
Total shareholders’ equity 513,067 489,148
Total liabilities and shareholders’ equity $ 1,191,798 $ 1,170,816
v3.25.1
Consolidated Condensed Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Net sales $ 297,413 $ 289,743
Cost of sales 186,450 179,338
Gross profit 110,963 110,405
Selling, general and administrative expenses 87,736 85,959
Operating income 23,227 24,446
Interest expense 4,415 6,423
Other expense (income), net 1,703 (976)
Income before income tax expense 17,109 18,999
Income tax expense 4,107 4,820
Net income $ 13,002 $ 14,179
Earnings (loss) per share – basic (in dollars per share) $ 0.22 $ 0.24
Earnings (loss) per share – diluted (in dollars per share) $ 0.22 $ 0.24
Common shares outstanding – basic (in shares) 58,434 58,238
Common shares outstanding – diluted (in shares) 59,173 58,714
v3.25.1
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 13,002 $ 14,179
Other comprehensive income (loss), after tax:    
Foreign currency translation adjustment 15,834 (11,092)
Pension liability adjustment (695) 458
Other comprehensive income (loss) 15,139 (10,634)
Comprehensive income $ 28,141 $ 3,545
v3.25.1
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
OPERATING ACTIVITIES:    
Net income $ 13,002 $ 14,179
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 9,401 9,616
Share-based compensation expense 4,145 3,915
Deferred income taxes (837) (678)
Other 3,070 (3,708)
Amortization of acquired intangible assets 1,255 1,297
Working capital changes:    
Accounts receivable 10,675 13,837
Inventories (16,339) (20,477)
Prepaid expenses and other current assets (3,438) (2,193)
Accounts payable and accrued expenses (9,195) (3,169)
Cash provided by operating activities 11,739 12,619
INVESTING ACTIVITIES:    
Capital expenditures (7,467) (4,033)
Proceeds from sale of property, plant and equipment 0 1,040
Insurance proceeds from property casualty loss 0 1,000
Cash used in investing activities (7,467) (1,993)
FINANCING ACTIVITIES:    
Repayments of long-term debt (122) (34,783)
Borrowing of long-term debt 0 10,000
Tax withholding payments for share-based compensation (7,730) (4,271)
Dividends paid (54) (6)
Finance lease payments (762) (716)
Cash used in financing activities (8,668) (29,776)
Net cash used in operating, investing and financing activities (4,396) (19,150)
Effect of exchange rate changes on cash 2,927 (1,574)
CASH AND CASH EQUIVALENTS:    
Net decrease (1,469) (20,724)
Balance, beginning of period 99,226 110,498
Balance, end of period $ 97,757 $ 89,774
v3.25.1
Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares
Mar. 30, 2025
Dec. 29, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 1.00 $ 1.00
Preferred stock, shares authorized (in shares) 5,000,000 5,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares issued (in shares) 58,610,000 58,304,000
Common stock, shares outstanding (in shares) 58,610,000 58,304,000
v3.25.1
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 30, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
References in this Quarterly Report on Form 10-Q to “Interface,” “the Company,” “we,” “our,” “ours” and “us” refer to Interface, Inc. and its subsidiaries or any of them, unless the context requires otherwise.
As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10-Q, the following footnotes have been condensed and, therefore, do not contain all disclosures required in connection with annual financial statements. Reference should be made to the Company’s year-end financial statements and notes thereto contained in its Annual Report on Form 10-K for the fiscal year ended December 29, 2024, as filed with the Commission.
The financial information included in this report has been prepared by the Company. In the opinion of management, the financial information included in this report contains all adjustments necessary for a fair presentation of the results for the interim periods. All such adjustments are of a normal recurring nature unless otherwise disclosed. Nevertheless, the results shown for interim periods are not necessarily indicative of results to be expected for the full year. The December 29, 2024, consolidated condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States (“GAAP”).
The three-month periods ended March 30, 2025 and March 31, 2024 both include 13 weeks.
Risks and Uncertainties
Global economic challenges including but not limited to the potential impacts of government-imposed tariffs and retaliatory tariffs, inflation, supply chain disruptions, the Russia-Ukraine war and the conflicts in the Middle East, and slow market conditions in certain parts of the globe could cause economic uncertainty and volatility. The Company considered these impacts and subsequent general uncertainties and volatility in the global economy on the assumptions and estimates used herein. These uncertainties could result in a future material adverse effect to the amounts reported within the Company’s consolidated condensed financial statements if actual results differ from these estimates.
Reclassifications
Certain reclassifications to prior year information have been made in the consolidated condensed statements of cash flows to conform to the current period presentation. The previously reported line item “deferred income taxes and other” was separated into two line items in the current period presentation of the consolidated condensed statements of cash flows to provide additional information. These reclassifications had no effect on cash provided by operating activities as previously reported.
Recently Issued Accounting Pronouncements – Not Yet Adopted
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement Reporting - Comprehensive Income - Expense Disaggregation (Topic 220-40)”. This ASU requires public entities to provide additional footnote disclosures to disaggregate the cost and expense line items presented in the income statement into specific categories including (a) purchases of inventory; (b) employee compensation; (c) depreciation; and (d) intangible asset amortization. The ASU also requires qualitative disclosure of other relevant expense categories not separately disclosed, the total amount of selling expenses, and the definition of selling expenses in annual reporting periods. The new guidance in ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU to its consolidated financial statements.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU requires public entities on an annual basis to disclose a rate reconciliation with explicit categories, as outlined in the ASU, and requires additional disclosures for reconciling items that meet certain quantitative thresholds. Other disclosures include disaggregation of income taxes paid, pre-tax income, and income tax expense. The new guidance is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently assessing the updated guidance; however, it is not expected to have a material impact to our consolidated financial statements.
Risks and Uncertainties
Risks and Uncertainties
Global economic challenges including but not limited to the potential impacts of government-imposed tariffs and retaliatory tariffs, inflation, supply chain disruptions, the Russia-Ukraine war and the conflicts in the Middle East, and slow market conditions in certain parts of the globe could cause economic uncertainty and volatility. The Company considered these impacts and subsequent general uncertainties and volatility in the global economy on the assumptions and estimates used herein. These uncertainties could result in a future material adverse effect to the amounts reported within the Company’s consolidated condensed financial statements if actual results differ from these estimates.
v3.25.1
Revenue Recognition
 3 Months Ended
Mar. 30, 2025
Revenues [Abstract]  
Revenue Recognition REVENUE RECOGNITION
The Company generates revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material, and from the installation of carpet and other flooring-related material. A summary of these revenue streams, as a percentage of net sales, for the three months ended March 30, 2025 and March 31, 2024 is as follows:
Three Months Ended
March 30, 2025March 31, 2024
Revenue from the sale of flooring material
98 %99 %
Revenue from installation of flooring material
2 %1 %
Disaggregation of Revenue
For the three months ended March 30, 2025 and March 31, 2024, revenue from the Company’s customers is broken down by geography as follows:
Three Months Ended
GeographyMarch 30, 2025March 31, 2024
Americas60.5 %58.6 %
Europe29.7 %31.6 %
Asia-Pacific9.8 %9.8 %
Revenue from the Company’s customers in the Americas corresponds to the AMS reportable segment, and the EAAA reportable segment includes revenue from the Europe and Asia-Pacific geographies. See Note 10 entitled “Segment Information” for additional information.
v3.25.1
Inventories
 3 Months Ended
Mar. 30, 2025
Inventory Disclosure [Abstract]  
Inventories INVENTORIES
Inventories are summarized as follows:
March 30, 2025December 29, 2024
(in thousands)
Finished goods$207,419 $192,705 
Work-in-process21,182 18,552 
Raw materials53,140 49,324 
Inventories, net$281,741 $260,581 
v3.25.1
Earnings Per Share
 3 Months Ended
Mar. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
The Company computes basic earnings per share (“EPS”) by dividing net income by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings.
The Company includes all unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding for basic EPS as these awards are considered participating securities. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock and are considered participating securities. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Any unvested share-based awards considered non-participating securities (restricted share units and performance shares) are included in diluted EPS calculations when the inclusion of these shares would be dilutive. The following table shows the computation of basic and diluted EPS:
Three Months Ended
March 30, 2025March 31, 2024
(in thousands, except per share data)
Numerator:
Net income(1)
$13,002 $14,179 
 
Denominator:
Weighted average shares outstanding58,325 57,623 
Participating securities109 615 
Shares for basic EPS58,434 58,238 
Dilutive effect of non-participating securities739 476 
Shares for diluted EPS59,173 58,714 
 
Basic EPS$0.22 $0.24 
Diluted EPS$0.22 $0.24 
(1) Including income attributable to participating securities, which was not material for the three months ended March 30, 2025 and was $0.2 million for the three months ended March 31, 2024.
For the three months ended March 30, 2025, there were no securities excluded from the computation of diluted EPS that would have been antidilutive. For the three months ended March 31, 2024, 1,049,405 non-participating securities (restricted share units and performance shares) were excluded from the computation of diluted EPS as these securities would have been antidilutive for the period.
v3.25.1
Long-Term Debt
 3 Months Ended
Mar. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt LONG-TERM DEBT
Long-term debt consisted of the following:
March 30, 2025December 29, 2024
Outstanding Principal
Interest Rate(1)
Outstanding Principal
Interest Rate(1)
(in thousands)(in thousands)
Syndicated Credit Facility(2):
Term loan borrowings$5,505 5.40 %$5,564 5.62 %
5.50% Senior Notes due 2028300,000 5.50 %300,000 5.50 %
 
Total debt305,505 305,564 
Less: Unamortized debt issuance costs(2,628)(2,807)
 
Total debt, net302,877 302,757 
Less: Current portion of long-term debt(487)(482)
 
Total long-term debt, net$302,390 $302,275 
(1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility and the stated rate of interest for the 5.50% Senior Notes due 2028, without the effect of debt issuance costs.
(2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $300.0 million. There were no revolving loan borrowings outstanding as of March 30, 2025 or December 29, 2024.
Syndicated Credit Facility
The Company’s Syndicated Credit Facility (the “Facility”) provides to the Company U.S. denominated and multicurrency term loans and provides to the Company and certain of its subsidiaries a multicurrency revolving credit facility. Interest on base rate loans is charged at varying rates computed by applying a margin depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on secured overnight financing rate based (“SOFR”) and alternative currency loans is charged at varying rates computed by applying a margin over the applicable SOFR rate or alternative currency rate, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. In addition, the Company pays a commitment fee per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility.
Fees for commercial letters of credit are computed as a percentage of the amount available to be drawn under such letters of credit. Fees for standby letters of credit are charged at varying rates computed by applying a margin of the amount available to be drawn under such standby letters of credit, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. As of March 30, 2025 and December 29, 2024, the Company had $0.5 million and $0.7 million, respectively, in letters of credit outstanding under the Facility.
Under the Facility, the Company is required to make quarterly amortization payments of the term loan borrowings, which are due on the last day of the calendar quarter.
The Company is in compliance with all covenants under the Facility and anticipates that it will remain in compliance with the covenants for the foreseeable future.
Senior Notes due 2028
The 5.50% Senior Notes due 2028 (the “Senior Notes”) bear an interest rate at 5.50% per annum and mature on December 1, 2028. Interest is paid semi-annually on June 1 and December 1 of each year. The Senior Notes are unsecured and are guaranteed, jointly and severally, by each of the Company’s material domestic subsidiaries, all of which also guarantee the obligations of the Company under the Facility.
The Company is in compliance with all covenants under the indenture governing the Senior Notes and anticipates that it will remain in compliance with the covenants for the foreseeable future.
v3.25.1
Shareholders' Equity
 3 Months Ended
Mar. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity SHAREHOLDERS’ EQUITY
The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended March 30, 2025 and March 31, 2024:
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS		PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENT
TOTAL
(in thousands, except per share data)
Balance, at December 29, 202458,304 $5,830 $261,028 $405,441 $(39,834)$(143,317)$489,148 
Net income
— — — 13,002 — — 13,002 
Issuances of stock related to restricted share units and performance shares
658 66 (66)— — — — 
Cash dividends declared, $0.01 per common share
— — — (641)— — (641)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings
(352)(35)(3,546)— — — (3,581)
Pension liability adjustment— — — — (695)— (695)
Foreign currency translation adjustment— — — — — 15,834 15,834 
Balance, at March 30, 202558,610 $5,861 $257,416 $417,802 $(40,529)$(127,483)$513,067 
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS		PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENT
TOTAL
(in thousands, except per share data)
Balance, at December 31, 202358,112 $5,811 $252,909 $320,833 $(34,016)$(119,590)$425,947 
Net income
— — — 14,179 — — 14,179 
Issuances of stock related to restricted share units and performance shares
472 47 (47)— — — — 
Cash dividends declared, $0.01 per common share
— — — (589)— — (589)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings
(311)(31)(324)— — — (355)
Pension liability adjustment— — — — 458 — 458 
Foreign currency translation adjustment— — — — — (11,092)(11,092)
Balance, at March 31, 202458,273 $5,827 $252,538 $334,423 $(33,558)$(130,682)$428,548 
The Company has share-based employee compensation plans, which are described more fully in Note 14 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 29, 2024.
Restricted Stock Awards
Compensation expense related to restricted stock grants was $0.3 million and $0.9 million for the three months ended March 30, 2025 and March 31, 2024, respectively. The Company has reduced its expense for any restricted stock forfeited during the period.
The following table summarizes restricted stock outstanding as of March 30, 2025, as well as activity during the three months then ended:
Restricted Stock
Weighted Average
Grant Date
Fair Value
Outstanding at December 29, 2024242,300 $13.92 
Granted— — 
Vested(184,000)13.19 
Forfeited or canceled— — 
Outstanding at March 30, 202558,300 $16.22 
As of March 30, 2025, the unrecognized total compensation cost related to unvested restricted stock was $0.1 million. That cost is expected to be recognized during the second quarter of 2025.
Restricted Share Unit Awards
Compensation expense related to the restricted share units was $1.8 million and $0.9 million for the three months ended March 30, 2025 and March 31, 2024, respectively. The Company has reduced its expense for any restricted share units forfeited during the period.
The following table summarizes restricted share units outstanding as of March 30, 2025, as well as activity during the three months then ended:
Restricted Share UnitsWeighted Average
Grant Date
Fair Value
Outstanding at December 29, 2024823,300 $11.76 
Granted247,200 21.46 
Vested(283,100)11.95 
Forfeited or canceled(900)10.80 
Outstanding at March 30, 2025786,500 $14.75 
As of March 30, 2025, the unrecognized total compensation cost related to unvested restricted share units was $9.5 million. That cost is expected to be recognized by the first quarter of 2028.
Performance Share Awards
The following table summarizes the performance shares outstanding as of March 30, 2025, as well as the activity during the three months then ended:
Performance SharesWeighted Average
Grant Date
Fair Value
Outstanding at December 29, 20241,171,700 $12.23 
Granted300,700 19.96 
Vested(375,500)12.99 
Forfeited or canceled(2,000)12.20 
Outstanding at March 30, 20251,094,900 $14.09 
Compensation expense related to the performance shares was $2.0 million and $2.1 million for the three months ended March 30, 2025 and March 31, 2024, respectively. The Company has reduced its expense for any performance shares forfeited during the period. Unrecognized compensation expense related to these performance shares was approximately $11.2 million as of March 30, 2025. The amount and timing of future compensation expense will depend on the performance of the Company. The compensation expense related to these outstanding performance shares is expected to be recognized by the first quarter of 2028.
The tax benefit recognized with respect to restricted stock, restricted share units and performance shares was approximately $0.4 million for the three months ended March 30, 2025.
v3.25.1
Leases
 3 Months Ended
Mar. 30, 2025
Leases [Abstract]  
Leases LEASES
The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of March 30, 2025 and December 29, 2024:
March 30, 2025December 29, 2024
Balance Sheet LocationOperating LeasesFinance LeasesOperating LeasesFinance Leases
(in thousands)
Operating lease right-of-use assets$77,845 $76,815 
 
Current portion of operating lease liabilities$12,718 $12,296 
Operating lease liabilities69,160 68,092 
Total operating lease liabilities$81,878 $80,388 
 
Property, plant and equipment, net$8,034 $8,079 
 
Accrued expenses$2,658 $2,657 
Other long-term liabilities5,757 5,797 
Total finance lease liabilities$8,415 $8,454 
As of March 30, 2025, there were no significant leases that had not commenced.
Lease Costs
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Finance lease cost:
Amortization of right-of-use assets$848 $776 
Interest on lease liabilities137 99 
Operating lease cost4,993 4,989 
Short-term lease cost171 197 
Variable lease cost773 690 
Total lease cost$6,922 $6,751 
Other Supplemental Information
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$131 $96 
Operating cash flows from operating leases4,437 4,097 
Financing cash flows from finance leases762 716 
Right-of-use assets obtained in exchange for new finance lease liabilities548 390 
Right-of-use assets obtained in exchange for new operating lease liabilities2,929 265 
Lease Term and Discount Rate
The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of March 30, 2025 and December 29, 2024:
 March 30, 2025December 29, 2024
Weighted-average remaining lease term – finance leases (in years)3.613.61
Weighted-average remaining lease term – operating leases (in years)7.577.68
Weighted-average discount rate – finance leases6.54 %6.44 %
Weighted-average discount rate – operating leases6.41 %6.39 %
Maturity Analysis
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2025 (excluding the three months ended March 30, 2025)
$13,018 $2,379 
202617,593 2,784 
202714,658 2,159 
202811,669 1,267 
202910,060 607 
Thereafter37,213 276 
Total future minimum lease payments (undiscounted)104,211 9,472 
Less: Present value discount(22,333)(1,057)
Total lease liabilities
$81,878 $8,415 
Leases LEASES
The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of March 30, 2025 and December 29, 2024:
March 30, 2025December 29, 2024
Balance Sheet LocationOperating LeasesFinance LeasesOperating LeasesFinance Leases
(in thousands)
Operating lease right-of-use assets$77,845 $76,815 
 
Current portion of operating lease liabilities$12,718 $12,296 
Operating lease liabilities69,160 68,092 
Total operating lease liabilities$81,878 $80,388 
 
Property, plant and equipment, net$8,034 $8,079 
 
Accrued expenses$2,658 $2,657 
Other long-term liabilities5,757 5,797 
Total finance lease liabilities$8,415 $8,454 
As of March 30, 2025, there were no significant leases that had not commenced.
Lease Costs
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Finance lease cost:
Amortization of right-of-use assets$848 $776 
Interest on lease liabilities137 99 
Operating lease cost4,993 4,989 
Short-term lease cost171 197 
Variable lease cost773 690 
Total lease cost$6,922 $6,751 
Other Supplemental Information
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$131 $96 
Operating cash flows from operating leases4,437 4,097 
Financing cash flows from finance leases762 716 
Right-of-use assets obtained in exchange for new finance lease liabilities548 390 
Right-of-use assets obtained in exchange for new operating lease liabilities2,929 265 
Lease Term and Discount Rate
The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of March 30, 2025 and December 29, 2024:
 March 30, 2025December 29, 2024
Weighted-average remaining lease term – finance leases (in years)3.613.61
Weighted-average remaining lease term – operating leases (in years)7.577.68
Weighted-average discount rate – finance leases6.54 %6.44 %
Weighted-average discount rate – operating leases6.41 %6.39 %
Maturity Analysis
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2025 (excluding the three months ended March 30, 2025)
$13,018 $2,379 
202617,593 2,784 
202714,658 2,159 
202811,669 1,267 
202910,060 607 
Thereafter37,213 276 
Total future minimum lease payments (undiscounted)104,211 9,472 
Less: Present value discount(22,333)(1,057)
Total lease liabilities
$81,878 $8,415 
v3.25.1
Employee Benefit Plans
 3 Months Ended
Mar. 30, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
The Company has defined benefit and multi-employer pension plans, which are described more fully in Note 19 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 29, 2024.
During the three-month periods ended March 30, 2025 and March 31, 2024, the Company recorded multi-employer pension expense related to multi-employer contributions of $0.7 million for both periods, respectively.
The following tables provide the components of net periodic benefit cost for the three months ended March 30, 2025 and March 31, 2024:
Three Months Ended
Defined Benefit Retirement Plans (Europe)
March 30, 2025March 31, 2024
(in thousands)
Interest cost$1,813 $1,710 
Expected return on plan assets(1,938)(1,966)
Amortization of prior service cost44 45 
Amortization of net actuarial losses375 269 
Net periodic benefit cost$294 $58 
Three Months Ended
Salary Continuation PlanMarch 30, 2025March 31, 2024
(in thousands)
Interest cost$275 $266 
Amortization of net actuarial losses47 60 
Net periodic benefit cost$322 $326 
Three Months Ended
nora Defined Benefit Plan
March 30, 2025March 31, 2024
(in thousands)
Service cost$103 $126 
Interest cost253 264 
Amortization of net actuarial gains
(82)— 
Net periodic benefit cost$274 $390 
The service cost component of net periodic benefit costs is presented within operating income in the consolidated condensed statements of operations, while all other components of net periodic benefit costs are presented within other expense (income), net, in the consolidated condensed statements of operations.
v3.25.1
Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
The ending balance and the change in the carrying amount of goodwill for the three months ended March 30, 2025 is as follows:
Goodwill(1)
(in thousands)
Balance, at December 29, 2024$99,887 
Foreign currency translation(2)
3,656 
Balance, at March 30, 2025$103,543 
(1) The goodwill balance is allocated entirely to the AMS reportable segment.
(2) A portion of the goodwill balance is comprised of goodwill denominated in foreign currency attributable to the nora acquisition.
The net carrying value of intangible assets other than goodwill was $48.7 million and $48.3 million at March 30, 2025 and December 29, 2024, respectively.
v3.25.1
Segment Information
 3 Months Ended
Mar. 30, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
The Company determines that an operating segment exists if a component (i) engages in business activities from which it earns revenues and incurs expenses, (ii) has operating results that are regularly reviewed by the chief operating decision maker (“CODM”), and (iii) has discrete financial information. Additionally, accounting standards require the utilization of a “management approach” to report the financial results of operating segments, which is based on information used by the CODM to assess performance and make operating and resource allocation decisions. The Company determined that it has two operating segments organized by geographical area – namely (a) Americas (“AMS”) and (b) Europe, Africa, Asia and Australia (collectively “EAAA”). The AMS operating segment includes the United States, Canada and Latin America geographic areas.
Pursuant to the management approach discussed above, the Company’s CODM, our chief executive officer, evaluates performance at the AMS and EAAA operating segment levels and makes operating and resource allocation decisions based on segment operating income (“AOI”). The CODM uses AOI to evaluate segment operating results compared to expectations. AOI is also used by the CODM to develop variable compensation targets and make capital spend decisions. AOI excludes: nora purchase accounting amortization; restructuring, asset impairment, severance, and other, net, and the impact of a cyber event. Intersegment revenues for the three months ended March 30, 2025 and March 31, 2024 were $28.0 million and $16.8 million, respectively. Intersegment revenues are eliminated from net sales presented below since these amounts are not included in the information provided to the CODM.
The Company has determined that it has two reportable segments – AMS and EAAA, as each operating segment meets the quantitative thresholds defined in the accounting guidance.
The following table outlines information by reportable segment including net sales, significant segment expenses, and AOI. The table also includes a reconciliation to income before taxes for the three months ended March 30, 2025 and March 31, 2024.
Three Months Ended
March 30, 2025March 31, 2024
AMSEAAATOTALAMSEAAATOTAL
(in thousands)
Net sales$179,937 $117,476 $297,413 $169,915 $119,828 $289,743 
Less: significant segment expenses (1)
   Adjusted cost of sales (2)
108,527 76,668 101,605 76,435 
   Adjusted selling, general, & administrative expenses(3)
51,547 35,217 50,230 35,948 
Segment AOI19,863 5,591 25,454 18,080 7,445 25,525 
Reconciliation of AOI to income before taxes
Restructuring, severance, asset impairment and other, net973 198 
Purchasing accounting amortization1,255 1,297 
Cyber event impact
— (416)
Interest expense4,415 6,423 
Other expense (income), net
1,703 (976)
Income before taxes$17,109 $18,999 
(1) Significant segment expense categories and amounts align with segment level information that is regularly provided to the CODM, included in the measure of segment profit, and considered to be significant. Amounts include allocation of corporate overhead and global support costs. Intersegment expenses are excluded.
(2) Adjusted cost of sales excludes purchase accounting amortization.
(3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net and the impact of a cyber event.
Segment depreciation and amortization for the three months ended March 30, 2025 and March 31, 2024 is presented as follows:
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
 
Depreciation and amortization
AMS$4,587 $4,353 
EAAA4,814 5,263 
Total depreciation and amortization$9,401 $9,616 

A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:
March 30, 2025December 29, 2024
(in thousands)
Assets
AMS$546,021 $644,085 
EAAA617,445 587,639 
Total segment assets1,163,466 1,231,724 
Corporate assets101,208 111,761 
Eliminations(72,876)(172,669)
Total reported assets$1,191,798 $1,170,816 
v3.25.1
Supplemental Cash Flow Information
 3 Months Ended
Mar. 30, 2025
Supplemental Cash Flow Information [Abstract]  
Supplemental Cash Flow Information SUPPLEMENTAL CASH FLOW INFORMATION
Supplemental cash flow information for the three months ended March 30, 2025 and March 31, 2024 is presented in the following table:
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Cash paid for interest
$169 $2,099 
Cash paid for income taxes, net of refunds
5,756 7,161 
See Note 7 entitled “Leases” for additional supplemental disclosures related to finance and operating leases.
Non-Cash Financing Activities
On March 11, 2025, the Company declared cash dividends on its common stock of $0.6 million, which were paid during the second quarter of 2025 to shareholders of record as of March 28, 2025. At March 30, 2025, the dividends were recorded within accrued expenses in the consolidated condensed balance sheet.
v3.25.1
Income Taxes
 3 Months Ended
Mar. 30, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
The Company determines its provision for income taxes for interim periods using an estimate of its annual effective tax rate (“AETR”) and records any changes affecting the estimated AETR in the interim period in which the change occurs, including discrete tax items.
During the three months ended March 30, 2025, the Company recorded a total income tax provision of $4.1 million on pre-tax income of $17.1 million resulting in an effective tax rate of 24.0%, as compared to a total income tax provision of $4.8 million on pre-tax income of $19.0 million resulting in an effective tax rate of 25.4% during the three months ended March 31, 2024. The decrease in the effective tax rate for the three months ended March 30, 2025 as compared to the three months ended March 31, 2024, was primarily due to an increase in tax benefits related to share-based compensation. This favorable change was partially offset by an unfavorable change related to the cash surrender value of Company-owned life insurance.
On December 20, 2021, the Organization for Economic Co-operation and Development (“OECD”) published Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD has since issued administrative guidance providing transition and safe harbor rules around the implementation of the Pillar Two global minimum tax. Many non-U.S. tax jurisdictions have either recently enacted legislation to adopt certain components of the Pillar Two Model Rules beginning in 2024 (including the European Union Member States) with the adoption of additional components in later years or announced their plans to enact legislation in future years. For fiscal year 2025, we expect to meet the Transitional Country-by-Country (CbCR) Safe Harbor rules for most if not all jurisdictions and do not expect these provisions to have a material impact on the Company’s financial statements. We will continue to closely monitor ongoing developments and evaluate any potential impact on future periods.
In the first three months of 2025, the Company increased its liability for unrecognized tax benefits by $0.3 million. As of March 30, 2025, the Company had accrued approximately $5.1 million for unrecognized tax benefits. The Company’s deferred tax asset as of March 30, 2025 reflects a reduction for $2.6 million of these unrecognized tax benefits.
Unrecognized tax benefits are reviewed on an ongoing basis and are adjusted for changing facts and circumstances, including the progress of tax audits and the closing of statutes of limitations. While it is reasonably possible that some of the unrecognized tax benefits will be recognized within the next 12 months, the Company does not expect the recognition of such amounts will have a material impact on the Company’s financial results.
v3.25.1
Items Reclassified from Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 30, 2025
Equity [Abstract]  
Items Reclassified from Accumulated Other Comprehensive Loss ITEMS RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS
Amounts reclassified out of accumulated other comprehensive loss (“AOCL”), before tax, to the consolidated condensed statements of operations during the three months ended March 30, 2025 and March 31, 2024 are reflected in the table below:
Three Months Ended
Statement of Operations LocationMarch 30, 2025March 31, 2024
(in thousands)
Amortization of benefit plan net actuarial losses and prior service cost
Other expense (income), net
$(384)$(374)
Total loss reclassified from AOCL
$(384)$(374)
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
From time to time, we are a party to legal proceedings, whether arising in the ordinary course of business or otherwise. See disclosure under the heading “Lawsuit by Former CEO in Connection with Termination” set forth in Note 18 to the consolidated financial statements included in Item 8 of the Annual Report on Form 10-K for the fiscal year ended December 29, 2024. There have been no material changes since December 29, 2024.
v3.25.1
Fair Value Measures and Disclosures
 3 Months Ended
Mar. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Disclosures FAIR VALUE OF FINANCIAL INSTRUMENTS
 
Accounting standards establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure estimated fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under applicable accounting standards are described below:

Level 1    Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.  

Level 2    Inputs to the valuation methodology include:
•quoted prices for similar assets in active markets;
•quoted prices for identical or similar assets in inactive markets;
•inputs other than quoted prices that are observable for the asset; and
•inputs that are derived principally or corroborated by observable data by correlation or other.

Level 3    Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The following table presents the carrying values and estimated fair values, including the level within the fair value hierarchy, of certain financial instruments:

March 30, 2025December 29, 2024
Carrying ValueFair Value (Level 1)Fair Value (Level 2)Carrying ValueFair Value (Level 1)Fair Value (Level 2)
(in thousands)
Assets:
Company-owned life insurance$22,948 $— $22,948 $22,911 $— $22,911 
Deferred compensation investments28,476 7,263 21,213 30,521 8,697 21,824 
 
Liabilities(1):
Borrowings under Syndicated Credit Facility(2)
5,505 — 5,505 5,564 — 5,564 
5.50% Senior Notes due 2028(3)
300,000 — 292,140 300,000 — 294,738 

(1) Carrying values are presented gross, excluding the impact of unamortized debt issuance costs and including amounts presented as current liabilities on the consolidated balance sheets.
(2) The carrying value of borrowings under the Facility approximates fair value as the Facility bears variable interest rates that are similar to existing market rates. The fair value of borrowings under the Facility is estimated using observable market rates.
(3) Unamortized debt issuance costs associated with the Senior Notes, recorded as a reduction of long-term debt in the consolidated balance sheets, were $2.6 million and $2.8 million as of March 30, 2025 and December 29, 2024, respectively. Fair value of the Senior Notes is derived using quoted prices for similar instruments.

The fair value of Company-owned life insurance is measured on a readily determinable cash surrender value on a recurring basis.

Assets associated with the Company’s nonqualified savings plans are held in a rabbi trust and consist of investments in mutual funds and insurance contracts. The fair value of the mutual funds is derived from quoted prices in active markets. The fair value of the insurance contracts is based on observable inputs related to the performance measurement funds that shadow the deferral investment allocations made by participants in the nonqualified savings plans.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net income $ 13,002 $ 14,179
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 30, 2025
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
v3.25.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
References in this Quarterly Report on Form 10-Q to “Interface,” “the Company,” “we,” “our,” “ours” and “us” refer to Interface, Inc. and its subsidiaries or any of them, unless the context requires otherwise.
As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10-Q, the following footnotes have been condensed and, therefore, do not contain all disclosures required in connection with annual financial statements. Reference should be made to the Company’s year-end financial statements and notes thereto contained in its Annual Report on Form 10-K for the fiscal year ended December 29, 2024, as filed with the Commission.
The financial information included in this report has been prepared by the Company. In the opinion of management, the financial information included in this report contains all adjustments necessary for a fair presentation of the results for the interim periods. All such adjustments are of a normal recurring nature unless otherwise disclosed. Nevertheless, the results shown for interim periods are not necessarily indicative of results to be expected for the full year. The December 29, 2024, consolidated condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States (“GAAP”).
The three-month periods ended March 30, 2025 and March 31, 2024 both include 13 weeks.
Recent Accounting Pronouncements Recently Issued Accounting Pronouncements – Not Yet Adopted
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement Reporting - Comprehensive Income - Expense Disaggregation (Topic 220-40)”. This ASU requires public entities to provide additional footnote disclosures to disaggregate the cost and expense line items presented in the income statement into specific categories including (a) purchases of inventory; (b) employee compensation; (c) depreciation; and (d) intangible asset amortization. The ASU also requires qualitative disclosure of other relevant expense categories not separately disclosed, the total amount of selling expenses, and the definition of selling expenses in annual reporting periods. The new guidance in ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU to its consolidated financial statements.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This ASU requires public entities on an annual basis to disclose a rate reconciliation with explicit categories, as outlined in the ASU, and requires additional disclosures for reconciling items that meet certain quantitative thresholds. Other disclosures include disaggregation of income taxes paid, pre-tax income, and income tax expense. The new guidance is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently assessing the updated guidance; however, it is not expected to have a material impact to our consolidated financial statements.
v3.25.1
Revenue Recognition (Tables)
 3 Months Ended
Mar. 30, 2025
Revenues [Abstract]  
Revenue by Products and Services
The Company generates revenue from sales of modular carpet, resilient flooring, rubber flooring, and other flooring-related material, and from the installation of carpet and other flooring-related material. A summary of these revenue streams, as a percentage of net sales, for the three months ended March 30, 2025 and March 31, 2024 is as follows:
Three Months Ended
March 30, 2025March 31, 2024
Revenue from the sale of flooring material
98 %99 %
Revenue from installation of flooring material
2 %1 %
Disaggregation of Revenue
For the three months ended March 30, 2025 and March 31, 2024, revenue from the Company’s customers is broken down by geography as follows:
Three Months Ended
GeographyMarch 30, 2025March 31, 2024
Americas60.5 %58.6 %
Europe29.7 %31.6 %
Asia-Pacific9.8 %9.8 %
v3.25.1
Inventories (Tables)
 3 Months Ended
Mar. 30, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories are summarized as follows:
March 30, 2025December 29, 2024
(in thousands)
Finished goods$207,419 $192,705 
Work-in-process21,182 18,552 
Raw materials53,140 49,324 
Inventories, net$281,741 $260,581 
v3.25.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted The following table shows the computation of basic and diluted EPS:
Three Months Ended
March 30, 2025March 31, 2024
(in thousands, except per share data)
Numerator:
Net income(1)
$13,002 $14,179 
 
Denominator:
Weighted average shares outstanding58,325 57,623 
Participating securities109 615 
Shares for basic EPS58,434 58,238 
Dilutive effect of non-participating securities739 476 
Shares for diluted EPS59,173 58,714 
 
Basic EPS$0.22 $0.24 
Diluted EPS$0.22 $0.24 
(1) Including income attributable to participating securities, which was not material for the three months ended March 30, 2025 and was $0.2 million for the three months ended March 31, 2024.
v3.25.1
Long-Term Debt (Tables)
 3 Months Ended
Mar. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
Long-term debt consisted of the following:
March 30, 2025December 29, 2024
Outstanding Principal
Interest Rate(1)
Outstanding Principal
Interest Rate(1)
(in thousands)(in thousands)
Syndicated Credit Facility(2):
Term loan borrowings$5,505 5.40 %$5,564 5.62 %
5.50% Senior Notes due 2028300,000 5.50 %300,000 5.50 %
 
Total debt305,505 305,564 
Less: Unamortized debt issuance costs(2,628)(2,807)
 
Total debt, net302,877 302,757 
Less: Current portion of long-term debt(487)(482)
 
Total long-term debt, net$302,390 $302,275 
(1) Represents the weighted average rate of interest for borrowings under the Syndicated Credit Facility and the stated rate of interest for the 5.50% Senior Notes due 2028, without the effect of debt issuance costs.
(2) The Syndicated Credit Facility also includes a multicurrency revolving loan facility up to $300.0 million. There were no revolving loan borrowings outstanding as of March 30, 2025 or December 29, 2024.
v3.25.1
Shareholders' Equity (Tables)
 3 Months Ended
Mar. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Shareholders' Equity
The following tables depict the activity in the accounts which make up shareholders’ equity for the three months ended March 30, 2025 and March 31, 2024:
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS		PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENT
TOTAL
(in thousands, except per share data)
Balance, at December 29, 202458,304 $5,830 $261,028 $405,441 $(39,834)$(143,317)$489,148 
Net income
— — — 13,002 — — 13,002 
Issuances of stock related to restricted share units and performance shares
658 66 (66)— — — — 
Cash dividends declared, $0.01 per common share
— — — (641)— — (641)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings
(352)(35)(3,546)— — — (3,581)
Pension liability adjustment— — — — (695)— (695)
Foreign currency translation adjustment— — — — — 15,834 15,834 
Balance, at March 30, 202558,610 $5,861 $257,416 $417,802 $(40,529)$(127,483)$513,067 
SHARESCOMMON STOCKADDITIONAL PAID-IN CAPITALRETAINED
EARNINGS		PENSION LIABILITYFOREIGN CURRENCY TRANSLATION ADJUSTMENT
TOTAL
(in thousands, except per share data)
Balance, at December 31, 202358,112 $5,811 $252,909 $320,833 $(34,016)$(119,590)$425,947 
Net income
— — — 14,179 — — 14,179 
Issuances of stock related to restricted share units and performance shares
472 47 (47)— — — — 
Cash dividends declared, $0.01 per common share
— — — (589)— — (589)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings
(311)(31)(324)— — — (355)
Pension liability adjustment— — — — 458 — 458 
Foreign currency translation adjustment— — — — — (11,092)(11,092)
Balance, at March 31, 202458,273 $5,827 $252,538 $334,423 $(33,558)$(130,682)$428,548 
Schedule of Restricted Stock Outstanding and Activity
The following table summarizes restricted stock outstanding as of March 30, 2025, as well as activity during the three months then ended:
Restricted Stock
Weighted Average
Grant Date
Fair Value
Outstanding at December 29, 2024242,300 $13.92 
Granted— — 
Vested(184,000)13.19 
Forfeited or canceled— — 
Outstanding at March 30, 202558,300 $16.22 
Schedule of Restricted Share Units Outstanding and Activity
The following table summarizes restricted share units outstanding as of March 30, 2025, as well as activity during the three months then ended:
Restricted Share UnitsWeighted Average
Grant Date
Fair Value
Outstanding at December 29, 2024823,300 $11.76 
Granted247,200 21.46 
Vested(283,100)11.95 
Forfeited or canceled(900)10.80 
Outstanding at March 30, 2025786,500 $14.75 
Schedule of Performance Shares Outstanding and Activity
The following table summarizes the performance shares outstanding as of March 30, 2025, as well as the activity during the three months then ended:
Performance SharesWeighted Average
Grant Date
Fair Value
Outstanding at December 29, 20241,171,700 $12.23 
Granted300,700 19.96 
Vested(375,500)12.99 
Forfeited or canceled(2,000)12.20 
Outstanding at March 30, 20251,094,900 $14.09 
v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 30, 2025
Leases [Abstract]  
Balance Sheet Information, Lessee
The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of March 30, 2025 and December 29, 2024:
March 30, 2025December 29, 2024
Balance Sheet LocationOperating LeasesFinance LeasesOperating LeasesFinance Leases
(in thousands)
Operating lease right-of-use assets$77,845 $76,815 
 
Current portion of operating lease liabilities$12,718 $12,296 
Operating lease liabilities69,160 68,092 
Total operating lease liabilities$81,878 $80,388 
 
Property, plant and equipment, net$8,034 $8,079 
 
Accrued expenses$2,658 $2,657 
Other long-term liabilities5,757 5,797 
Total finance lease liabilities$8,415 $8,454 
Schedule of Lease Costs
Lease Costs
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Finance lease cost:
Amortization of right-of-use assets$848 $776 
Interest on lease liabilities137 99 
Operating lease cost4,993 4,989 
Short-term lease cost171 197 
Variable lease cost773 690 
Total lease cost$6,922 $6,751 
Other Supplemental Information, Lessee
Other Supplemental Information
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$131 $96 
Operating cash flows from operating leases4,437 4,097 
Financing cash flows from finance leases762 716 
Right-of-use assets obtained in exchange for new finance lease liabilities548 390 
Right-of-use assets obtained in exchange for new operating lease liabilities2,929 265 
Weighted Average Lease Term and Discount Rate, Lessee
The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of March 30, 2025 and December 29, 2024:
 March 30, 2025December 29, 2024
Weighted-average remaining lease term – finance leases (in years)3.613.61
Weighted-average remaining lease term – operating leases (in years)7.577.68
Weighted-average discount rate – finance leases6.54 %6.44 %
Weighted-average discount rate – operating leases6.41 %6.39 %
Lease Liability Maturity Schedule
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2025 (excluding the three months ended March 30, 2025)
$13,018 $2,379 
202617,593 2,784 
202714,658 2,159 
202811,669 1,267 
202910,060 607 
Thereafter37,213 276 
Total future minimum lease payments (undiscounted)104,211 9,472 
Less: Present value discount(22,333)(1,057)
Total lease liabilities
$81,878 $8,415 
Lease Liability Maturity Schedule
A maturity analysis of lease payments under non-cancellable leases is presented as follows:
Fiscal YearOperating LeasesFinance Leases
(in thousands)
2025 (excluding the three months ended March 30, 2025)
$13,018 $2,379 
202617,593 2,784 
202714,658 2,159 
202811,669 1,267 
202910,060 607 
Thereafter37,213 276 
Total future minimum lease payments (undiscounted)104,211 9,472 
Less: Present value discount(22,333)(1,057)
Total lease liabilities
$81,878 $8,415 
v3.25.1
Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Cost
The following tables provide the components of net periodic benefit cost for the three months ended March 30, 2025 and March 31, 2024:
Three Months Ended
Defined Benefit Retirement Plans (Europe)
March 30, 2025March 31, 2024
(in thousands)
Interest cost$1,813 $1,710 
Expected return on plan assets(1,938)(1,966)
Amortization of prior service cost44 45 
Amortization of net actuarial losses375 269 
Net periodic benefit cost$294 $58 
Three Months Ended
Salary Continuation PlanMarch 30, 2025March 31, 2024
(in thousands)
Interest cost$275 $266 
Amortization of net actuarial losses47 60 
Net periodic benefit cost$322 $326 
Three Months Ended
nora Defined Benefit Plan
March 30, 2025March 31, 2024
(in thousands)
Service cost$103 $126 
Interest cost253 264 
Amortization of net actuarial gains
(82)— 
Net periodic benefit cost$274 $390 
v3.25.1
Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The ending balance and the change in the carrying amount of goodwill for the three months ended March 30, 2025 is as follows:
Goodwill(1)
(in thousands)
Balance, at December 29, 2024$99,887 
Foreign currency translation(2)
3,656 
Balance, at March 30, 2025$103,543 
(1) The goodwill balance is allocated entirely to the AMS reportable segment.
(2) A portion of the goodwill balance is comprised of goodwill denominated in foreign currency attributable to the nora acquisition.
v3.25.1
Segment Information (Tables)
 3 Months Ended
Mar. 30, 2025
Segment Reporting [Abstract]  
Schedule of Operating Segment Information
Segment depreciation and amortization for the three months ended March 30, 2025 and March 31, 2024 is presented as follows:
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
 
Depreciation and amortization
AMS$4,587 $4,353 
EAAA4,814 5,263 
Total depreciation and amortization$9,401 $9,616 
Reconciliation of Assets from Segment to Consolidated
A reconciliation of the Company’s total operating segment assets to the corresponding consolidated amounts follows:
March 30, 2025December 29, 2024
(in thousands)
Assets
AMS$546,021 $644,085 
EAAA617,445 587,639 
Total segment assets1,163,466 1,231,724 
Corporate assets101,208 111,761 
Eliminations(72,876)(172,669)
Total reported assets$1,191,798 $1,170,816 
Reconciliation of Operating Income to Income (Loss) Before Income Tax Expense and Segment AOI
The following table outlines information by reportable segment including net sales, significant segment expenses, and AOI. The table also includes a reconciliation to income before taxes for the three months ended March 30, 2025 and March 31, 2024.
Three Months Ended
March 30, 2025March 31, 2024
AMSEAAATOTALAMSEAAATOTAL
(in thousands)
Net sales$179,937 $117,476 $297,413 $169,915 $119,828 $289,743 
Less: significant segment expenses (1)
   Adjusted cost of sales (2)
108,527 76,668 101,605 76,435 
   Adjusted selling, general, & administrative expenses(3)
51,547 35,217 50,230 35,948 
Segment AOI19,863 5,591 25,454 18,080 7,445 25,525 
Reconciliation of AOI to income before taxes
Restructuring, severance, asset impairment and other, net973 198 
Purchasing accounting amortization1,255 1,297 
Cyber event impact
— (416)
Interest expense4,415 6,423 
Other expense (income), net
1,703 (976)
Income before taxes$17,109 $18,999 
(1) Significant segment expense categories and amounts align with segment level information that is regularly provided to the CODM, included in the measure of segment profit, and considered to be significant. Amounts include allocation of corporate overhead and global support costs. Intersegment expenses are excluded.
(2) Adjusted cost of sales excludes purchase accounting amortization.
(3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net and the impact of a cyber event.
Segment, Reconciliation of Other Items from Segments to Consolidated
The following table outlines information by reportable segment including net sales, significant segment expenses, and AOI. The table also includes a reconciliation to income before taxes for the three months ended March 30, 2025 and March 31, 2024.
Three Months Ended
March 30, 2025March 31, 2024
AMSEAAATOTALAMSEAAATOTAL
(in thousands)
Net sales$179,937 $117,476 $297,413 $169,915 $119,828 $289,743 
Less: significant segment expenses (1)
   Adjusted cost of sales (2)
108,527 76,668 101,605 76,435 
   Adjusted selling, general, & administrative expenses(3)
51,547 35,217 50,230 35,948 
Segment AOI19,863 5,591 25,454 18,080 7,445 25,525 
Reconciliation of AOI to income before taxes
Restructuring, severance, asset impairment and other, net973 198 
Purchasing accounting amortization1,255 1,297 
Cyber event impact
— (416)
Interest expense4,415 6,423 
Other expense (income), net
1,703 (976)
Income before taxes$17,109 $18,999 
(1) Significant segment expense categories and amounts align with segment level information that is regularly provided to the CODM, included in the measure of segment profit, and considered to be significant. Amounts include allocation of corporate overhead and global support costs. Intersegment expenses are excluded.
(2) Adjusted cost of sales excludes purchase accounting amortization.
(3) Adjusted selling, general, and administrative expenses exclude restructuring, asset impairment, severance, and other, net and the impact of a cyber event.
v3.25.1
Supplemental Cash Flow Information (Tables)
 3 Months Ended
Mar. 30, 2025
Supplemental Cash Flow Information [Abstract]  
Schedule of Supplemental Cash Flow Information
Supplemental cash flow information for the three months ended March 30, 2025 and March 31, 2024 is presented in the following table:
Three Months Ended
March 30, 2025March 31, 2024
(in thousands)
Cash paid for interest
$169 $2,099 
Cash paid for income taxes, net of refunds
5,756 7,161 
v3.25.1
Items Reclassified from Accumulated Other Comprehensive Loss (Tables)
 3 Months Ended
Mar. 30, 2025
Equity [Abstract]  
Schedule of Items Reclassified out of Accumulated Other Comprehensive Loss
Amounts reclassified out of accumulated other comprehensive loss (“AOCL”), before tax, to the consolidated condensed statements of operations during the three months ended March 30, 2025 and March 31, 2024 are reflected in the table below:
Three Months Ended
Statement of Operations LocationMarch 30, 2025March 31, 2024
(in thousands)
Amortization of benefit plan net actuarial losses and prior service cost
Other expense (income), net
$(384)$(374)
Total loss reclassified from AOCL
$(384)$(374)
v3.25.1
Fair Value Measures and Disclosures (Tables)
 3 Months Ended
Mar. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
The following table presents the carrying values and estimated fair values, including the level within the fair value hierarchy, of certain financial instruments:

March 30, 2025December 29, 2024
Carrying ValueFair Value (Level 1)Fair Value (Level 2)Carrying ValueFair Value (Level 1)Fair Value (Level 2)
(in thousands)
Assets:
Company-owned life insurance$22,948 $— $22,948 $22,911 $— $22,911 
Deferred compensation investments28,476 7,263 21,213 30,521 8,697 21,824 
 
Liabilities(1):
Borrowings under Syndicated Credit Facility(2)
5,505 — 5,505 5,564 — 5,564 
5.50% Senior Notes due 2028(3)
300,000 — 292,140 300,000 — 294,738 

(1) Carrying values are presented gross, excluding the impact of unamortized debt issuance costs and including amounts presented as current liabilities on the consolidated balance sheets.
(2) The carrying value of borrowings under the Facility approximates fair value as the Facility bears variable interest rates that are similar to existing market rates. The fair value of borrowings under the Facility is estimated using observable market rates.
(3) Unamortized debt issuance costs associated with the Senior Notes, recorded as a reduction of long-term debt in the consolidated balance sheets, were $2.6 million and $2.8 million as of March 30, 2025 and December 29, 2024, respectively. Fair value of the Senior Notes is derived using quoted prices for similar instruments.
v3.25.1
Revenue Recognition - Revenue by Products and Services (Details)
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Revenue from the Sale of Flooring Material    
Revenue from External Customer [Line Items]    
Percent of revenue due to contracts with customers (percentage) 98.00% 99.00%
Revenue from Installation of Flooring Material    
Revenue from External Customer [Line Items]    
Percent of revenue due to contracts with customers (percentage) 2.00% 1.00%
v3.25.1
Revenue Recognition - Disaggregation of Revenue (Details)
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Americas    
Disaggregation of Revenue [Line Items]    
Percentage of net sales 60.50% 58.60%
Europe    
Disaggregation of Revenue [Line Items]    
Percentage of net sales 29.70% 31.60%
Asia-Pacific    
Disaggregation of Revenue [Line Items]    
Percentage of net sales 9.80% 9.80%
v3.25.1
Inventories - Summary of Inventories (Details) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Inventory Disclosure [Abstract]    
Finished goods $ 207,419 $ 192,705
Work-in-process 21,182 18,552
Raw materials 53,140 49,324
Inventories, net $ 281,741 $ 260,581
v3.25.1
Earnings Per Share - Basic and Diluted (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Numerator:    
Net income $ 13,002 $ 14,179
Distributed and undistributed earnings available to participating securities, basic   (200)
Distributed and undistributed earnings available to participating securities, diluted   $ (200)
Denominator:    
Weighted average shares outstanding (in shares) 58,325 57,623
Participating securities (in shares) 109 615
Shares for basic earnings (loss) per share (in shares) 58,434 58,238
Dilutive effect of non-participating securities (in shares) 739 476
Shares for diluted earnings (loss) per share (in shares) 59,173 58,714
Earnings (loss) per share – basic (in dollars per share) $ 0.22 $ 0.24
Earnings (loss) per share – diluted (in dollars per share) $ 0.22 $ 0.24
v3.25.1
Earnings Per Share - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
USD ($)
shares
Earnings Per Share [Abstract]  
Antidilutive securities excluded from computation of EPS (in shares) | shares 1,049,405
Distributed and undistributed earnings attributable to participating securities, diluted | $ $ 200
v3.25.1
Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Debt Instrument [Line Items]    
Long-term debt, gross $ 305,505 $ 305,564
Less: Unamortized debt issuance costs (2,628) (2,807)
Total debt, net 302,877 302,757
Less: Current portion of long-term debt (487) (482)
Long-term debt, net 302,390 302,275
Syndicated Facility Agreement    
Debt Instrument [Line Items]    
Long-term debt, gross 5,505 5,564
Revolving loan facility, maximum borrowing capacity 300,000  
Syndicated Facility Agreement | Revolving Loan Facility    
Debt Instrument [Line Items]    
Long-term debt, gross 0 0
Syndicated Facility Agreement | Term Loan    
Debt Instrument [Line Items]    
Long-term debt, gross $ 5,505 $ 5,564
Weighted average interest rate on borrowings outstanding (percentage) 5.40% 5.62%
Senior Notes    
Debt Instrument [Line Items]    
Long-term debt, gross $ 300,000 $ 300,000
Less: Unamortized debt issuance costs $ (2,600) $ (2,800)
Stated interest rate (percentage) 5.50% 5.50%
v3.25.1
Long-Term Debt - Narrative (Details) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Debt Instrument [Line Items]    
Long-term debt, net $ 302,390 $ 302,275
Long-term debt, gross 305,505 305,564
Unamortized debt issuance costs, recorded as reduction of long-term debt, net 2,628 2,807
Syndicated Facility Agreement    
Debt Instrument [Line Items]    
Letters of credit outstanding 500 700
Long-term debt, gross 5,505 5,564
Syndicated Facility Agreement | Term Loan    
Debt Instrument [Line Items]    
Long-term debt, gross $ 5,505 $ 5,564
Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate (percentage) 5.50% 5.50%
Long-term debt, gross $ 300,000 $ 300,000
Unamortized debt issuance costs, recorded as reduction of long-term debt, net $ 2,600 $ 2,800
v3.25.1
Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 11, 2025
Mar. 30, 2025
Mar. 31, 2024
Increase (Decrease) in Shareholders' Equity [Roll Forward]      
Balance at beginning of period   $ 489,148 $ 425,947
Net income   13,002 14,179
Issuances of stock related to restricted share units and performance shares   0 0
Cash dividends declared $ (600) (641) (589)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings   (3,581) (355)
Pension liability adjustment   (695) 458
Foreign currency translation adjustment   15,834 (11,092)
Balance at end of period   $ 513,067 $ 428,548
Cash dividends declared, per common share (in dollars per share)   $ 0.01 $ 0.01
COMMON STOCK      
Increase (Decrease) in Shareholders' Equity [Roll Forward]      
Balance at beginning of period (in shares)   58,304 58,112
Balance at beginning of period   $ 5,830 $ 5,811
Issuances of stock related to restricted share units and performance shares (in shares)   658 472
Issuances of stock related to restricted share units and performance shares   $ 66 $ 47
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings (in shares)   (352) (311)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings   $ (35) $ (31)
Balance at end of period (in shares)   58,610 58,273
Balance at end of period   $ 5,861 $ 5,827
ADDITIONAL PAID-IN CAPITAL      
Increase (Decrease) in Shareholders' Equity [Roll Forward]      
Balance at beginning of period   261,028 252,909
Issuances of stock related to restricted share units and performance shares   (66) (47)
Compensation expense related to share-based plans, net of forfeitures and shares received for tax withholdings   (3,546) (324)
Balance at end of period   257,416 252,538
RETAINED EARNINGS      
Increase (Decrease) in Shareholders' Equity [Roll Forward]      
Balance at beginning of period   405,441 320,833
Net income   13,002 14,179
Cash dividends declared   (641) (589)
Balance at end of period   417,802 334,423
PENSION LIABILITY      
Increase (Decrease) in Shareholders' Equity [Roll Forward]      
Balance at beginning of period   (39,834) (34,016)
Pension liability adjustment   (695) 458
Balance at end of period   (40,529) (33,558)
FOREIGN CURRENCY TRANSLATION ADJUSTMENT      
Increase (Decrease) in Shareholders' Equity [Roll Forward]      
Balance at beginning of period   (143,317) (119,590)
Foreign currency translation adjustment   15,834 (11,092)
Balance at end of period   $ (127,483) $ (130,682)
v3.25.1
Shareholders' Equity - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense $ 4,145 $ 3,915
Share-based compensation expense, tax benefit 400  
Restricted Stock    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense 300 900
Unrecognized compensation expense related to unvested share-based awards 100  
Restricted Share Units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense 1,800 900
Unrecognized compensation expense related to unvested share-based awards 9,500  
Performance Shares    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense 2,000 $ 2,100
Unrecognized compensation expense related to unvested share-based awards $ 11,200  
v3.25.1
Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock
 3 Months Ended
Mar. 30, 2025
$ / shares
shares
Shares  
Outstanding at beginning of period (in shares) | shares 242,300
Granted (in shares) | shares 0
Vested (in shares) | shares (184,000)
Forfeited or canceled (in shares) | shares 0
Outstanding at end of period (in shares) | shares 58,300
Weighted Average Grant Date Fair Value  
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares $ 13.92
Granted, weighted average grant date fair value (in dollars per share) | $ / shares 0
Vested, weighted average grant date fair value (in dollars per share) | $ / shares 13.19
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares 0
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares $ 16.22
v3.25.1
Shareholders' Equity - Restricted Share Units Outstanding (Details) - Restricted Share Units
 3 Months Ended
Mar. 30, 2025
$ / shares
shares
Shares  
Outstanding at beginning of period (in shares) | shares 823,300
Granted (in shares) | shares 247,200
Vested (in shares) | shares (283,100)
Forfeited or canceled (in shares) | shares (900)
Outstanding at end of period (in shares) | shares 786,500
Weighted Average Grant Date Fair Value  
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares $ 11.76
Granted, weighted average grant date fair value (in dollars per share) | $ / shares 21.46
Vested, weighted average grant date fair value (in dollars per share) | $ / shares 11.95
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares 10.80
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares $ 14.75
v3.25.1
Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares
 3 Months Ended
Mar. 30, 2025
$ / shares
shares
Shares  
Outstanding at beginning of period (in shares) | shares 1,171,700
Granted (in shares) | shares 300,700
Vested (in shares) | shares (375,500)
Forfeited or canceled (in shares) | shares (2,000)
Outstanding at end of period (in shares) | shares 1,094,900
Weighted Average Grant Date Fair Value  
Outstanding at beginning of period, weighted average grant date fair value (in dollars per share) | $ / shares $ 12.23
Granted, weighted average grant date fair value (in dollars per share) | $ / shares 19.96
Vested, weighted average grant date fair value (in dollars per share) | $ / shares 12.99
Forfeited or canceled, weighted average grant date fair value (in dollars per share) | $ / shares 12.20
Outstanding at end of period, weighted average grant date fair value (in dollars per share) | $ / shares $ 14.09
v3.25.1
Leases - Balance Sheet Information (Details) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Leases [Abstract]    
Operating lease right-of-use assets $ 77,845 $ 76,815
Current portion of operating lease liabilities 12,718 12,296
Operating lease liabilities 69,160 68,092
Total operating lease liabilities 81,878 80,388
Finance lease right-of-use assets, net $ 8,034 $ 8,079
Finance lease right-of-use asset, consolidated condensed balance sheet location Property, plant and equipment, net Property, plant and equipment, net
Current portion of finance lease liabilities $ 2,658 $ 2,657
Finance lease liability, current, consolidated condensed balance sheet location Accrued expenses Accrued expenses
Finance lease liabilities $ 5,757 $ 5,797
Finance lease liability, noncurrent, consolidated condensed balance sheet location Other long-term liabilities Other long-term liabilities
Total finance lease liabilities $ 8,415 $ 8,454
v3.25.1
Leases - Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Leases [Abstract]    
Finance lease cost: Amortization of right-of-use assets $ 848 $ 776
Finance lease cost: Interest on lease liabilities 137 99
Operating lease cost 4,993 4,989
Short-term lease cost 171 197
Variable lease cost 773 690
Total lease cost $ 6,922 $ 6,751
v3.25.1
Leases - Other Supplemental Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Leases [Abstract]    
Operating cash flows from finance leases $ 131 $ 96
Operating cash flows from operating leases 4,437 4,097
Financing cash flows from finance leases 762 716
Right-of-use assets obtained in exchange for new finance lease liabilities 548 390
Right-of-use assets obtained in exchange for new operating lease liabilities $ 2,929 $ 265
v3.25.1
Leases - Lease Term and Discount Rate (Details)
Mar. 30, 2025
Dec. 29, 2024
Leases [Abstract]    
Weighted-average remaining lease term – finance leases (in years) 3 years 7 months 9 days 3 years 7 months 9 days
Weighted-average remaining lease term – operating leases (in years) 7 years 6 months 25 days 7 years 8 months 4 days
Weighted-average discount rate – finance leases (percentage) 6.54% 6.44%
Weighted-average discount rate – operating leases (percentage) 6.41% 6.39%
v3.25.1
Leases - Maturity of Lease Payments (Details) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Lessee, Operating Lease, Liability, Payment, Due [Abstract]    
2025 (excluding the three months ended March 30, 2025) $ 13,018  
2026 17,593  
2027 14,658  
2028 11,669  
2029 10,060  
Thereafter 37,213  
Total future minimum lease payments (undiscounted) 104,211  
Less: Present value discount (22,333)  
Total lease liabilities 81,878 $ 80,388
Lessee, Finance Lease, Liability, Payment, Due [Abstract]    
2025 (excluding the three months ended March 30, 2025) 2,379  
2026 2,784  
2027 2,159  
2028 1,267  
2029 607  
Thereafter 276  
Total future minimum lease payments (undiscounted) 9,472  
Less: Present value discount (1,057)  
Total lease liabilities $ 8,415 $ 8,454
v3.25.1
Employee Benefit Plans - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Retirement Benefits [Abstract]    
Multiemployer plan, employer contribution $ 0.7  
Multiemployer Plan, Pension, Insignificant, Plan Contribution   $ 0.7
v3.25.1
Employee Benefit Plans - Schedule of Net Periodic Benefit Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Europe    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Interest cost $ 1,813 $ 1,710
Expected return on plan assets (1,938) (1,966)
Amortization of prior service cost 44 45
Amortization of net actuarial losses (gains) 375 269
Net periodic benefit cost 294 58
Salary Continuation Plan | United States    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Interest cost 275 266
Amortization of net actuarial losses (gains) 47 60
Net periodic benefit cost 322 326
nora Defined Benefit Plan    
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]    
Service cost 103 126
Interest cost 253 264
Amortization of net actuarial losses (gains) (82) 0
Net periodic benefit cost $ 274 $ 390
v3.25.1
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - Operating Segments - AMS
$ in Thousands
 3 Months Ended
Mar. 30, 2025
USD ($)
Goodwill [Roll Forward]  
Balance at beginning of period $ 99,887
Foreign currency translation 3,656
Balance at end of period $ 103,543
v3.25.1
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
Mar. 30, 2025
Dec. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Carrying value of intangible assets, excluding goodwill, net $ 48.7 $ 48.3
v3.25.1
Segment Information - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 30, 2025
USD ($)
Mar. 31, 2024
USD ($)
Segment Reporting [Abstract]    
Number of operating segments 2  
Number of reportable segments 2  
Intersegment revenues $ 28.0 $ 16.8
v3.25.1
Segment Information - Operating Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Net sales $ 297,413 $ 289,743
AOI 25,454 25,525
Depreciation and amortization 9,401 9,616
Operating Segments | AMS    
Segment Reporting Information [Line Items]    
Depreciation and amortization 4,587 4,353
Operating Segments | EAAA    
Segment Reporting Information [Line Items]    
Depreciation and amortization $ 4,814 $ 5,263
v3.25.1
Segment Information - Reconciliation of Segment Assets (Details) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets $ 1,191,798 $ 1,170,816
Operating Segments    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 1,163,466 1,231,724
Operating Segments | AMS    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 546,021 644,085
Operating Segments | EAAA    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 617,445 587,639
Segment Reporting, Reconciling Item, Corporate Nonsegment    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 101,208 111,761
Eliminations    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets $ (72,876) $ (172,669)
v3.25.1
Segment Information - Reconciliation of Segment AOI (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]    
Net sales $ 297,413 $ 289,743
Operating income 23,227 24,446
Interest expense 4,415 6,423
Other expense (income), net 1,703 (976)
Income (loss) before income tax expense 17,109 18,999
AOI 25,454 25,525
Restructuring, severance, asset impairment and other, net 973 198
Purchase accounting amortization 1,255 1,297
Cyber event impact 0 (416)
Operating Segments | AMS    
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]    
Net sales 179,937 169,915
Adjusted selling, general, and administrative expenses 51,547 50,230
Adjusted cost of sales 108,527 101,605
AOI 19,863 18,080
Operating Segments | EAAA    
Segment Reporting, Reconciling Item for Operating Income from Segment to Consolidated [Line Items]    
Net sales 117,476 119,828
Adjusted selling, general, and administrative expenses 35,217 35,948
Adjusted cost of sales 76,668 76,435
AOI $ 5,591 $ 7,445
v3.25.1
Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Supplemental Cash Flow Information [Abstract]    
Cash paid for interest $ 169 $ 2,099
Cash paid for income taxes, net of refunds $ 5,756 $ 7,161
v3.25.1
Supplemental Cash Flow Information - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 11, 2025
Mar. 30, 2025
Mar. 31, 2024
Supplemental Cash Flow Information [Abstract]      
Cash dividends declared on common stock $ 600 $ 641 $ 589
v3.25.1
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Income Tax Disclosure [Abstract]    
Income tax expense $ 4,107 $ 4,820
Income (loss) before income tax expense $ 17,109 $ 18,999
Effective income tax rate (percentage) 24.00% 25.40%
Pillar Two, minimum tax rate (percentage) 15.00%  
Unrecognized tax benefits, period increase $ 300  
Unrecognized tax benefits 5,100  
Reduction of deferred tax asset for unrecognized tax benefits $ 2,600  
v3.25.1
Items Reclassified from Accumulated Other Comprehensive Loss - Schedule of Items Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 30, 2025
Mar. 31, 2024
Equity [Abstract]    
Amortization of benefit plan net actuarial losses and prior service cost $ (384) $ (374)
Total loss reclassified from accumulated other comprehensive loss $ (384) $ (374)
v3.25.1
Fair Value Measures and Disclosures (Details) - USD ($)
$ in Thousands
Mar. 30, 2025
Dec. 29, 2024
Fair Value Disclosures [Abstract]    
Cash Surrender Value, Fair Value Disclosure $ 22,948 $ 22,911
Long-term debt, gross 305,505 305,564
Cash Surrender Value of Life Insurance 22,948 22,911
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unamortized debt issuance costs, recorded as reduction of long-term debt, net 2,628 2,807
Cash Surrender Value of Life Insurance 22,948 22,911
Cash Surrender Value, Fair Value Disclosure 22,948 22,911
Long-term debt, gross 305,505 305,564
Senior Notes    
Fair Value Disclosures [Abstract]    
Long-term debt, gross 300,000 300,000
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Unamortized debt issuance costs, recorded as reduction of long-term debt, net 2,600 2,800
Long-term debt, gross 300,000 300,000
Syndicated Facility Agreement    
Fair Value Disclosures [Abstract]    
Long-term debt, gross 5,505 5,564
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term debt, gross 5,505 5,564
Level 2 | Senior Notes    
Fair Value Disclosures [Abstract]    
Long-term debt, fair value 292,140 294,738
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term debt, fair value 292,140 294,738
Level 2 | Syndicated Facility Agreement    
Fair Value Disclosures [Abstract]    
Long-term debt, fair value 5,505 5,564
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Long-term debt, fair value 5,505 5,564
Deferred Compensation, Excluding Share-Based Payments and Retirement Benefits    
Fair Value Disclosures [Abstract]    
Deferred Compensation Plan Assets 28,476 30,521
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred Compensation Plan Assets 28,476 30,521
Deferred Compensation, Excluding Share-Based Payments and Retirement Benefits | Fair Value, Inputs, Level 1 | Mutual Fund    
Fair Value Disclosures [Abstract]    
Investments, Fair Value Disclosure 7,263 8,697
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments, Fair Value Disclosure 7,263 8,697
Deferred Compensation, Excluding Share-Based Payments and Retirement Benefits | Level 2 | Insurance, Other    
Fair Value Disclosures [Abstract]    
Investments, Fair Value Disclosure 21,213 21,824
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Investments, Fair Value Disclosure $ 21,213 $ 21,824