JELD-WEN HOLDING, INC., 10-Q filed on 5/8/2025
Quarterly Report
v3.25.1
Cover - shares
 3 Months Ended
Mar. 29, 2025
May 02, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 29, 2025  
Document Transition Report false  
Entity File Number 001-38000  
Entity Registrant Name JELD-WEN Holding, Inc.  
Entity Incorporation, State DE  
Entity Tax Identification Number 93-1273278  
Entity Address, Street Name 2645 Silver Crescent Drive  
Entity Address, City Charlotte  
Entity Address, State NC  
Entity Address, Postal Zip Code 28273  
City Area Code 704  
Local Phone Number 378-5700  
Title of each class Common Stock (par value $0.01 per share)  
Trading Symbol JELD  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   85,298,995
Entity Central Index Key 0001674335  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Income Statement [Abstract]    
Net revenues $ 776,006 $ 959,126
Cost of sales 663,923 786,546
Gross margin 112,083 172,580
Selling, general and administrative 144,767 182,804
Goodwill impairment (Note 6) 137,721 0
Restructuring and asset-related charges (Note 16) 14,546 18,059
Operating loss (184,951) (28,283)
Interest expense, net 14,918 15,692
Loss on extinguishment and refinancing of debt (Note 10) 237 1,449
Other income, net (Note 18) (10,586) (14,263)
Loss before taxes (189,520) (31,161)
Income tax expense (benefit) (Note 11) 618 (3,431)
Net loss $ (190,138) $ (27,730)
Weighted average common shares outstanding (Note 14):    
Basic (in shares) 84,917,294 85,520,145
Diluted (in shares) 84,917,294 85,520,145
Net loss per share    
Basic (usd per share) $ (2.24) $ (0.32)
Diluted (usd per share) $ (2.24) $ (0.32)
v3.25.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Comprehensive Income [Abstract]    
Net loss $ (190,138) $ (27,730)
Other comprehensive income (loss), net of tax:    
Foreign currency translation adjustments, net of tax expense of $0 and $1,147, respectively. 20,813 (18,298)
Foreign currency hedge adjustments, net of tax benefit of $(597) and $0, respectively. (1,300) 0
Interest rate hedge adjustments, net of tax (benefit) expense of $(12) and $85, respectively. (35) 252
Commodity hedge adjustments, net of tax expense of $51 and $0, respectively. 149 0
Defined benefit pension plans, net of tax (benefit) expense of $(9) and $2, respectively. (19) 6
Total other comprehensive income (loss), net of tax 19,608 (18,040)
Comprehensive loss $ (170,530) $ (45,770)
v3.25.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Statement of Comprehensive Income [Abstract]    
Foreign currency translation adjustments, net of tax (benefit) expense $ 0 $ 1,147
Net investment hedge adjustments, net of tax expense (597) 0
Interest rate hedge adjustments, net of tax expense (benefit) (12) 85
Commodity hedge adjustments, net of tax expense 51 0
Defined benefit pension plans, net of tax (benefit) expense $ (9) $ 2
v3.25.1
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 132,469 $ 150,337
Restricted cash 703 710
Accounts receivable, net (Note 3) 453,602 388,415
Inventories (Note 4) 444,425 460,107
Other current assets 77,379 73,413
Assets held for sale (Note 17) 0 126,912
Total current assets 1,108,578 1,199,894
Property and equipment, net (Note 5) 699,752 681,439
Deferred tax assets 147,379 143,284
Goodwill (Note 6) 185,165 315,167
Intangible assets, net (Note 7) 100,554 101,987
Operating lease assets, net 120,766 126,256
Other assets 56,721 52,142
Total assets 2,418,915 2,620,169
Current liabilities    
Accounts payable 269,178 264,947
Accrued payroll and benefits 82,622 89,600
Accrued expenses and other current liabilities (Note 8) 216,489 224,209
Current maturities of long-term debt (Note 10) 25,088 30,927
Liabilities held for sale (Note 17) 0 15,308
Total current liabilities 593,377 624,991
Long-term debt (Note 10) 1,157,121 1,152,449
Unfunded pension liability 23,857 21,615
Operating lease liability 99,249 105,499
Deferred credits and other liabilities 87,513 89,854
Deferred tax liabilities 5,659 5,699
Total liabilities 1,966,776 2,000,107
Commitments and contingencies (Note 21)
Shareholders’ equity    
Preferred Stock, par value $0.01 per share, 90,000,000 shares authorized; no shares issued and outstanding 0 0
Common Stock: 900,000,000 shares authorized, par value $0.01 per share, 85,217,425 and 84,653,408 shares issued and outstanding, respectively 851 846
Additional paid-in capital 771,666 769,064
Accumulated deficit (210,491) (20,353)
Accumulated other comprehensive loss (109,887) (129,495)
Total shareholders’ equity 452,139 620,062
Total liabilities and shareholders’ equity $ 2,418,915 $ 2,620,169
v3.25.1
CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares
Mar. 29, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (usd per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 90,000,000 90,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock authorized (in shares) 900,000,000 900,000,000
Common stock, par value (usd per share) $ 0.01 $ 0.01
Common stock, shares outstanding (in shares) 85,217,425 84,653,408
Common stock, shares issued (in shares) 85,217,425 84,653,408
v3.25.1
CONSOLIDATED STATEMENTS OF EQUITY (unaudited) - USD ($)
$ in Thousands
Total
Preferred stock
Common stock
Additional paid-in capital
Other additional paid in capital
Other additional paid in capital
Employee stock notes
Accumulated deficit
Accumulated other comprehensive loss
Foreign currency adjustments
Unrealized loss on net investment hedges
Unrealized loss on interest rate hedges
Net actuarial pension (loss) gain
Balance at beginning of period at Dec. 31, 2023     $ 853   $ 752,844 $ (673) $ 192,931 $ (95,310)        
Balance at beginning of period (in shares) at Dec. 31, 2023     85,309,220                  
Increase (Decrease) in Stockholders' Equity                        
Shares issued for exercise/vesting of share-based compensation awards (in shares)     613,331                  
Shares issued for exercise/vesting of share-based compensation awards     $ 7   2,012              
Shares surrendered for tax obligations for employee share-based transactions (in shares)     (21,008)                  
Shares surrendered for tax obligations for employee share-based transactions     $ (1)   (402)              
Amortization of share-based compensation         5,059              
Net loss $ (27,730)           (27,730)          
Foreign currency adjustments (18,298)               $ (18,298)      
Unrealized (loss) gain on interest rate hedges                     $ 252  
Net actuarial pension (loss) gain 6                     $ 6
Balance at period end (in shares) at Mar. 30, 2024   0                    
Balance at end of period at Mar. 30, 2024 $ 811,550 $ 0 $ 859 $ 758,840 759,513 (673) 165,201 (113,350)        
Balance at period end (in shares) at Mar. 30, 2024     85,901,543                  
Balance at beginning of period (in shares) at Dec. 31, 2024 0                      
Balance at beginning of period at Dec. 31, 2024 $ 620,062   $ 846   769,737 (673) (20,353) (129,495)        
Balance at beginning of period (in shares) at Dec. 31, 2024 84,653,408   84,653,408                  
Increase (Decrease) in Stockholders' Equity                        
Shares issued for exercise/vesting of share-based compensation awards (in shares)     619,074                  
Shares issued for exercise/vesting of share-based compensation awards     $ 6   (4)              
Shares surrendered for tax obligations for employee share-based transactions (in shares)     (55,057)                  
Shares surrendered for tax obligations for employee share-based transactions     $ (1)   (622)              
Amortization of share-based compensation         3,228              
Net loss $ (190,138)           (190,138)          
Foreign currency adjustments 20,813               $ 20,813      
Unrealized loss on foreign currency hedges                   $ (1,300)    
Unrealized (loss) gain on interest rate hedges                     (35)  
Unrealized gain on commodity hedges                     $ 149  
Net actuarial pension (loss) gain $ (19)                     $ (19)
Balance at period end (in shares) at Mar. 29, 2025 0 0                    
Balance at end of period at Mar. 29, 2025 $ 452,139 $ 0 $ 851 $ 771,666 $ 772,339 $ (673) $ (210,491) $ (109,887)        
Balance at period end (in shares) at Mar. 29, 2025 85,217,425   85,217,425                  
v3.25.1
CONSOLIDATED STATEMENTS OF EQUITY (unaudited) (Parenthetical) - $ / shares
Mar. 29, 2025
Dec. 31, 2024
Mar. 30, 2024
Statement of Stockholders' Equity [Abstract]      
Preferred stock, par value (usd per share) $ 0.01 $ 0.01 $ 0.01
Common stock, par value (usd per share) $ 0.01 $ 0.01 $ 0.01
v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
OPERATING ACTIVITIES    
Net loss $ (190,138) $ (27,730)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 27,295 41,429
Deferred income taxes (3,123) (7,395)
Net gain on sale of business, property and equipment (599) (2,865)
Goodwill impairment 137,721 0
Adjustment to carrying value of assets 2,279 2,919
Amortization of deferred financing costs 535 434
Loss on extinguishment and refinancing of debt 237 787
Loss on foreign currency translation adjustment related to the substantial liquidation of a foreign subsidiary 0 4,290
Share-based compensation expense 3,228 5,059
Recovery of cost from receipts on impaired notes 0 (1,389)
Other items, net (1,034) (2,465)
Net change in operating assets and liabilities:    
Accounts receivable (58,130) (17,599)
Inventories 21,295 (13,776)
Other assets (3,151) (9,514)
Accounts payable and accrued expenses (14,969) 22,910
Change in short-term and long-term tax liabilities (4,940) (6,093)
Net cash used in operating activities (83,494) (10,998)
INVESTING ACTIVITIES    
Purchases of property and equipment (36,763) (31,210)
Proceeds from sale of property and equipment 162 3,266
Purchase of intangible assets (5,191) (3,502)
Proceeds related to the court-ordered divestiture of Towanda 112,105 0
Recovery of cost from receipts on impaired notes 0 1,389
Cash received for notes receivable 7 0
Cash received from insurance proceeds 0 1,655
Purchase of securities for deferred compensation plan (273) (2,112)
Net cash provided by (used in) investing activities 70,047 (30,514)
FINANCING ACTIVITIES    
Change in long-term debt and payments of debt extinguishment costs (6,064) (7,710)
Common stock issued for exercise of options 2 2,019
Payments to tax authorities for employee share-based compensation 0 (403)
Payments related to the sale of JW Australia (540) (714)
Net cash used in financing activities (6,602) (6,808)
Effect of foreign currency exchange rates on cash 2,174 (5,617)
Net decrease in cash and cash equivalents (17,875) (53,937)
Cash, cash equivalents and restricted cash, beginning 151,047 289,147
Cash, cash equivalents and restricted cash, ending $ 133,172 $ 235,210
v3.25.1
Description of Company and Summary of Significant Accounting Policies
 3 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Description of Company and Summary of Significant Accounting Policies Description of Company and Summary of Significant Accounting Policies
Nature of Business – JELD-WEN Holding, Inc., along with its subsidiaries, is a vertically integrated global manufacturer and distributor of windows, doors, and other building products that derives substantially all its revenues from the sale of its door and window products. Unless otherwise specified or the context otherwise requires, all references in these notes to “JELD-WEN,” “we,” “us,” “our,” or the “Company” are to JELD-WEN Holding, Inc. and its subsidiaries.
Our continuing operations include facilities located in the U.S., Canada, and Europe. Our products are marketed primarily under the JELD-WEN brand name in the U.S. and Canada and under JELD-WEN and a variety of acquired brand names in Europe.
Our revenues are affected by the level of new housing starts, residential and non-residential building construction, and repair and remodeling activity in each of our markets. Our sales typically follow seasonal new construction and repair and remodeling industry patterns. The peak season for home construction and remodeling in many of our markets generally corresponds with the second and third calendar quarters, and therefore, sales volume is typically higher during those quarters. Our first and fourth quarter sales volumes are generally lower due to reduced repair and remodeling activity and reduced activity in the building and construction industry as a result of colder and more inclement weather in certain areas of our geographic end markets.
Basis of Presentation – The accompanying unaudited consolidated financial statements as of March 29, 2025, and for the three months ended March 29, 2025 and March 30, 2024, respectively, have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the SEC. In the opinion of management, the unaudited consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company’s financial position for the periods presented. The results for the three months ended March 29, 2025, are not necessarily indicative of the results to be expected for the year ending December 31, 2025, or any other period. The accompanying consolidated balance sheet as of December 31, 2024, was derived from audited financial statements included in our Annual Report on Form 10-K. The accompanying consolidated financial statements do not include all the information and footnotes required by GAAP for annual financial statements. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024.
All U.S. dollar and other currency amounts, except per share amounts, are presented in thousands unless otherwise noted.
Fiscal Year – We operate on a fiscal calendar year, and each interim quarter is comprised of two 4-week periods and one 5-week period, with each week ending on a Saturday. Our fiscal year always begins on January 1 and ends on December 31. As a result, our first and fourth quarters may have more, or fewer days included than a traditional 91-day fiscal quarter.
Use of Estimates – The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions, and allocations that affect amounts reported in the consolidated financial statements and related notes. Significant items that are subject to such estimates and assumptions include, but are not limited to, long-lived assets including goodwill and other intangible assets, employee benefit obligations, income tax uncertainties, contingent assets and liabilities, provisions for bad debt, inventory, warranty liabilities, legal claims, valuation of derivatives, environmental remediation, and claims relating to self-insurance. Actual results could differ due to the uncertainty inherent in the nature of these estimates.
CARES Act – In March 2020, the United States government enacted the CARES Act to provide certain relief as a result of the COVID-19 pandemic. The CARES Act provided tax relief, along with other stimulus measures, including a provision for an ERC designed to encourage businesses to retain employees during the COVID-19 pandemic. We recorded a receivable for an ERC from the U.S. government of $6.1 million in other income, net in the fourth quarter of 2023. The balance is included in other current assets in the accompanying consolidated balance sheets as of March 29, 2025 and December 31, 2024, respectively.
Recent Accounting Standards Not Yet Adopted – In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted, and should be applied either prospectively to financial statements issued for reporting dates after the effective date or retrospectively to any or all prior periods presented in the financial statements. We have not elected to early adopt this standard. We are currently evaluating the impact of this guidance on the Company’s disclosures.
In November 2024, the FASB issued ASU 2024-03, Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of disaggregated information about specific natural expense categories underlying certain income statement expense line items that are considered relevant. The FASB also issued ASU 2025-01, Expense Disaggregation Disclosures: Clarifying the Effective Date, which clarifies the adoption date of ASU 2024-03 as annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted, and the guidance should be applied either prospectively to financial statements issued for reporting dates after the effective date or retrospectively to any or all prior periods presented in the financial statements. We are currently evaluating the impact of this guidance on the Company’s disclosures.
We have considered the applicability and impact of all ASUs. We have assessed the ASUs not listed above and determined that they were either not applicable or were not expected to have a material impact on our financial statements.
v3.25.1
Divestiture
 3 Months Ended
Mar. 29, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Divestiture Divestiture
Divestiture of Towanda
On January 17, 2025, pursuant to an order issued by the United States District Court for the Eastern District of Virginia, Richmond Division, and the previously announced Asset Purchase Agreement dated October 11, 2024 and effective December 13, 2024, JWI completed the sale of its Towanda, PA operations to WG Towanda LLC, a wholly owned subsidiary of Woodgrain Inc. Towanda was previously included within the North America segment.
Since the Company will continue manufacturing door skins for its internal needs, the court-ordered divestiture decision did not represent a strategic shift thereby precluding the court-ordered divestiture as qualifying as a discontinued operation.
The selling price of Towanda was $115.0 million, subject to certain adjustments and closing conditions, paid in cash during the first quarter of 2025. In connection with the Asset Purchase Agreement, the Company recognized a $31.4 million goodwill impairment charge during the fourth quarter of 2024. We recorded a $0.7 million pre-tax gain on the sale of Towanda, within SG&A in our consolidated statements of operations for the quarter ended March 29, 2025. The gain is driven by a post-close net working capital adjustment. Towanda had a net carrying value of $110.8 million, which included property and equipment, net of $65.4 million, inventory of $16.7 million, trade receivables of $8.8 million, operating lease assets of $2.2 million, intangible assets, net of $1.5 million and goodwill of $33.6 million. The goodwill is not deductible for tax purposes. The assets were partially offset by accounts payable of $9.2 million and other liabilities which were individually immaterial. We recorded $8.5 million in tax expense related to the gain from the sale within income tax expense in our consolidated statements of operations for the quarter ended March 29, 2025.
Held for Sale
During 2021, the Company ceased the appeal process for its litigation with Steves further described in Note 21 - Commitments and Contingencies. As a result, we were required to divest Towanda. Effective January 17, 2025, pursuant to an order issued by the United States District Court for the Eastern District of Virginia, Richmond Division, and the previously announced Asset Purchase Agreement, JWI completed the sale of Towanda.
As of December 31, 2024, the assets and liabilities associated with the court-ordered divestiture of Towanda qualified as held for sale and were included in assets held for sale and liabilities held for sale in the accompanying consolidated balance sheets.
(amounts in thousands)December 31, 2024
Assets:
Accounts receivable, net$9,072 
Inventories16,319 
Other current assets84 
Property and equipment, net64,661 
Intangible assets, net1,471 
Goodwill33,644 
Operating lease assets, net2,411 
Allowance to reduce assets to estimated fair value, less costs to sell(750)
Assets held for sale$126,912 
Liabilities:
Accounts payable$7,431 
Accrued payroll and benefits1,013 
Accrued expenses and other current liabilities5,959 
Operating lease liability905 
Liabilities held for sale$15,308 
v3.25.1
Accounts Receivable
 3 Months Ended
Mar. 29, 2025
Receivables [Abstract]  
Accounts Receivable Accounts Receivable
We sell our manufactured products to a large number of customers, primarily in the residential housing construction and remodel sectors, broadly dispersed across many domestic and foreign geographic regions. We assess the credit risk relating to our accounts receivable based on quantitative and qualitative factors, including historical credit collections within each region where we have operations. We perform ongoing credit evaluations of our customers to minimize credit risk. We do not usually require collateral for accounts receivable, but do require advance payment, guarantees, a security interest in the products sold to a customer, and/or letters of credit in certain situations. Customer accounts receivable converted to notes receivable are collateralized by inventory or other collateral.
At March 29, 2025 and December 31, 2024, we had an allowance for credit losses of $10.0 million and $9.6 million, respectively.
v3.25.1
Inventories
 3 Months Ended
Mar. 29, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories are stated at the lower of cost or net realizable value. Finished goods and work-in-process inventories include material, labor, and manufacturing overhead costs.
(amounts in thousands)March 29, 2025December 31, 2024
Raw materials$359,888 $380,277 
Work in process20,977 19,763 
Finished goods86,847 82,615 
Inventory valuation reserves(23,287)(22,548)
Total inventories$444,425 $460,107 
v3.25.1
Property and Equipment, Net
 3 Months Ended
Mar. 29, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
(amounts in thousands)March 29, 2025December 31, 2024
Property and equipment$2,033,822 $1,991,145 
Accumulated depreciation(1,334,070)(1,309,706)
Total property and equipment, net$699,752 $681,439 
The effect on our carrying value of property and equipment due to currency translations for foreign property and equipment, net, was an increase of $7.8 million as of March 29, 2025 compared to December 31, 2024.
Depreciation expense was recorded as follows:
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Cost of sales$19,172 $19,998 
Selling, general and administrative1,178 1,121 
Total depreciation expense$20,350 $21,119 
v3.25.1
Goodwill
 3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
Goodwill is tested for impairment on an annual basis during the fourth quarter and between annual tests if indicators of potential impairment exist. Between annual testing dates, the Company monitors factors such as its market capitalization, comparable company market multiples, macroeconomic conditions and individual reporting unit financial performance to identify conditions that could impact the Company’s assumptions utilized in the determination of the estimated fair values of the Company’s reporting units and indefinite-lived intangible assets significantly enough to trigger an interim impairment test.
The goodwill impairment tests are based on determining the fair value of the specified reporting units based on management judgments and assumptions using the discounted cash flows under the income approach classified in Level 3 of the fair value hierarchy and comparable company market valuation classified in Level 2 of the fair value hierarchy approaches. The valuation approaches are subject to key judgments and assumptions that are sensitive to change such as judgments and assumptions including revenue growth rates, expected EBITDA margins, market multiples, discount rates, capital expenditures and terminal growth rates.
As previously disclosed, following our 2024 annual impairment test for our North America reporting unit, we concluded that, while no impairment existed as of the test date, the fair value of our reporting unit exceeded its carrying value by less than 10%. During the first quarter of 2025, the Company determined that a triggering event occurred, requiring an interim goodwill impairment test for its North America reporting unit as of March 29, 2025. This was due to factors that increased short term sales and EBITDA volatility, reflecting anticipated economic headwinds, deterioration of market demand versus previous expectations, and uncertainty around how potential increases in inflationary pressures on imports will impact customer demand. These factors include a decrease in the US GDP growth consensus estimate for 2025 by approximately 40 basis points from the end of 2024. Further, the National Association of Homebuilders reported that single-family starts are projected to grow 70 basis points less than previously estimated, and multifamily starts are expected to decline 6.0% in 2025, down from a 3.5% decline cited in previous reports. Additionally, during the quarter, we saw a continued decline in the market price of our common stock, resulting in a decrease in our market capitalization. The impairment test indicated a non-cash goodwill impairment charge related to the North America reporting unit of $137.7 million, which the Company recorded in the consolidated statements of operations during the three months ended March 29, 2025. Following this impairment charge to our North America reporting unit, the fair values of both of our reporting units approximate their carrying value.
A significant or prolonged deterioration in economic conditions, a further decline in projected future cash flows, or increases in the discount rates, could impact the Company’s assumptions and require a reassessment of goodwill for possible impairment in future periods. Future declines in estimated after tax cash flows, increases in the discount rates or a decline in market capitalization could result in an additional indication of impairment in one or more of the Company’s reporting units.
The following table summarizes the changes in goodwill by reportable segment:
(amounts in thousands)North
America		EuropeTotal
Reportable
Segments
Gross carrying amount at December 31, 2024
$181,025 $250,636 $431,661 
Currency translation23 11,977 12,000 
Gross carrying amount at March 29, 2025
$181,048 $262,613 $443,661 
Accumulated impairment losses at December 31, 2024
$— $(116,494)$(116,494)
Impairment(137,721)— (137,721)
Currency translation— (4,281)(4,281)
Accumulated impairment losses at March 29, 2025
$(137,721)$(120,775)$(258,496)
Balance, net of impairment at March 29, 2025
$43,327 $141,838 $185,165 
v3.25.1
Intangible Assets, Net
 3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
The cost and accumulated amortization values of our intangible assets were as follows:
March 29, 2025
(amounts in thousands)CostAccumulated
Amortization		Net
Book Value
Customer relationships and agreements$122,215 $(94,660)$27,555 
Software78,835 (32,616)46,219 
Trademarks and trade names31,843 (12,734)19,109 
Patents, licenses and rights13,524 (5,853)7,671 
Total amortizable intangibles$246,417 $(145,863)$100,554 
December 31, 2024
(amounts in thousands)CostAccumulated
Amortization		Net
Book Value
Customer relationships and agreements$119,674 $(90,073)$29,601 
Software76,048 (30,021)46,027 
Trademarks and trade names31,384 (12,113)19,271 
Patents, licenses and rights12,627 (5,539)7,088 
Total amortizable intangibles$239,733 $(137,746)$101,987 
We recorded accelerated amortization of $14.1 million during the three months ended March 30, 2024, for an ERP that we are no longer utilizing after we completed our related obligations under the JW Australia Transition Services Agreement during the first quarter of 2024. The expense was recorded within SG&A expense in the accompanying consolidated statements of operations.
The effect on our carrying value of intangible assets due to currency translations for foreign intangible assets was an increase of $0.6 million as of March 29, 2025 compared to December 31, 2024.
Amortization expense was recorded as follows:
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Amortization expense$5,493 $18,916 
v3.25.1
Accrued Expenses and Other Current Liabilities
 3 Months Ended
Mar. 29, 2025
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
(amounts in thousands)March 29, 2025December 31, 2024
Accrued sales and advertising rebates$55,897 $74,043 
Current portion of operating lease liability32,922 32,738 
Non-income related taxes23,693 19,952 
Current portion of warranty liability (Note 9)
18,759 18,394 
Accrued freight16,351 15,174 
Current portion of accrued claim costs relating to self-insurance programs14,540 15,254 
Current portion of restructuring accrual (Note 16)
11,573 7,605 
Accrued expenses10,108 10,783 
Accrued interest payable9,806 9,846 
Current portion of derivative liability (Note 19)
9,138 2,905 
Legal claims provision (Note 21)
5,059 4,678 
Deferred revenue and customer deposits4,463 5,404 
Accrued income taxes payable4,180 7,433 
Total accrued expenses and other current liabilities$216,489 $224,209 
The accrued sales and advertising rebates, accrued interest payable, accrued freight, and non-income related taxes can significantly fluctuate period-over-period due to timing of payments.
v3.25.1
Warranty Liability
 3 Months Ended
Mar. 29, 2025
Product Warranties Disclosures [Abstract]  
Warranty Liability Warranty Liability
Warranty terms range from one year to lifetime on certain window and door components. Warranties are normally limited to servicing or replacing defective components for the original customer. Product defects arising within six months of sale are classified as manufacturing defects and are not included in the current period expense below. Some warranties are transferable to subsequent owners and are either limited to 10 years from the date of manufacture or require pro rata payments from the customer. Estimated warranty costs based on historical experience are recorded as a provision at the time of sale. The provision is adjusted periodically to reflect actual experience.
An analysis of our warranty liability is as follows:
(amounts in thousands)March 29, 2025March 30, 2024
Balance as of January 1$47,289 $53,247 
Current period charges2,943 6,027 
Experience adjustments— 394 
Payments(5,820)(6,760)
Currency translation295 (330)
Balance at period end$44,707 $52,578 
Current portion(18,759)(22,201)
Long-term portion$25,948 $30,377 
The most significant component of our warranty liability was in the North America segment. As of March 29, 2025, the warranty liability in the North America segment totaled $38.4 million, after discounting future estimated cash flows at rates between 4.30% and 4.57%. Without discounting, the liability would have increased by approximately $3.3 million.
v3.25.1
Long-Term Debt
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Our long-term debt, net of original issue discounts and unamortized debt issuance costs, consisted of the following:
March 29, 2025March 29, 2025December 31, 2024
(amounts in thousands)Interest Rate
Senior Notes
4.88% - 7.00%
$750,000 $750,000 
Term Loan Facility
6.44%(1)
380,888 380,888 
Finance leases and other financing arrangements
1.00% - 8.28%(1)
59,445 61,071 
Total Debt
$1,190,333 $1,191,959 
Unamortized debt issuance costs and original issue discounts(8,124)(8,583)
Current maturities of long-term debt(25,088)(30,927)
Long-term debt$1,157,121 $1,152,449 
(1)Term Loan Facility and certain finance leases and other financing arrangements are subject to variable interest rates.
Summaries of our significant changes to outstanding debt agreements as of March 29, 2025, are as follows:
Senior Secured Notes and Senior Notes
In December 2017, we issued $800.0 million of Senior Notes in two tranches: $400.0 million bearing interest at 4.63% and maturing in December 2025, and $400.0 million bearing interest at 4.88% and maturing in December 2027 in a private placement for resale to qualified institutional buyers pursuant to Rule 144A under the Securities Act.
In May 2020, we issued $250.0 million of Senior Secured Notes bearing interest at 6.25% and maturing in May 2025 in a private placement for resale to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The proceeds were net of fees and expenses associated with debt issuance, including an underwriting fee of 1.25%. Interest is payable semiannually, in arrears, each May and November.
In August 2023, we redeemed all $250.0 million of our 6.25% Senior Secured Notes and $200.0 million of our 4.63% Senior Notes. The Company recognized a pre-tax loss of $6.5 million on the redemption in the third quarter of 2023, consisting of $3.9 million in call premium and $2.6 million in accelerated amortization of debt issuance costs.
In August 2024, we issued $350.0 million of Senior Notes bearing interest at 7.00% and maturing September 2032 in a private placement for resale to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The proceeds were net of fees and expenses associated with debt issuance including an underwriting fee of 1.25%. We incurred debt issuance costs of $5.5 million which will be amortized to interest expense over the life of the notes using the effective interest method. Interest is payable semiannually, in arrears, each March and September.
In September 2024, we utilized a portion of the proceeds from the issuance of our 7.00% Senior Notes described above to redeem the remaining $200.0 million of our 4.63% Senior Notes. The Company recognized a pre-tax loss of $0.5 million on the redemption in the third quarter of 2024, consisting entirely in accelerated amortization of debt issuance costs.
Term Loan Facility
U.S. Facility - Initially executed in October 2014, we amended the Term Loan Facility in July 2021 to, among other things, extend the maturity date from December 2024 to July 2028 and provide additional covenant flexibility. Pursuant to the amendment, certain existing and new lenders advanced $550.0 million of replacement term loans, the proceeds of which were used to prepay in full the amount outstanding under the previously existing term loans. The replacement term loans originally bore interest at LIBOR (subject to a floor of 0.00%) plus a margin of 2.00% to 2.25% depending on JWI’s corporate credit ratings. In addition, the amendment also modified certain other terms and provisions of the Term Loan Facility and added language to address the replacement of LIBOR with a SOFR basis upon June 30, 2023, cessation of the publication of LIBOR. Voluntary prepayments of the replacement term loans are permitted at any time, in certain minimum principal amounts, but were subject to a 1.00% premium during the first six months. The amendment requires 0.25% of the initial principal to be repaid quarterly until maturity. As a result of this amendment, we recognized debt extinguishment costs of $1.3 million, which included $1.0 million of unamortized debt issuance costs and original discount fees.
In January 2024, we amended the Term Loan Facility to lower the applicable margin for replacement term loans, remove certain provisions no longer relevant to the parties, and make certain other technical amendments and related conforming changes. Pursuant to the amendment, replacement term loans bear interest at SOFR plus a margin of 1.75% to 2.00% depending on JWI’s corporate credit ratings, compared to a margin of 2.00% to 2.25% under the previous amendment. All other material terms and conditions of the Term Loan Agreement were unchanged. As a result of this amendment, we recognized debt extinguishment and refinancing costs of $1.4 million, which included $0.8 million of unamortized debt issuance costs and original discount fees.
In February 2024, we entered into interest rate collar agreements with a cap rate of 4.50% paid against one-month USD-SOFR CME Term floored at 3.982% and 3.895% with outstanding notional amounts aggregating to $100.0 million corresponding to that amount of the debt outstanding under our Term Loan Facility. The interest rate collar agreements were designated as cash flow hedges of a portion of the interest obligations on our Term Loan Facility borrowings and mature in February 2026. Refer to Note 19 - Derivative Financial Instruments for more information on our derivative assets and liabilities.
In August 2024, we utilized a portion of the proceeds received from our issuance of $350.0 million of Senior Notes to repay $150.0 million of the outstanding balance of our Term Loan Facility. As of March 29, 2025, the outstanding principal balance, net of original issue discount, was $380.5 million.
Revolving Credit Facility
ABL Facility - Initially executed in 2014, extensions of credit under our ABL Facility are limited by a borrowing base calculated based on specified percentages of the value of eligible accounts receivable and inventory, subject to certain reserves and other adjustments. We pay a fee of 0.25% on the unused portion of the commitments. The ABL Facility has a minimum fixed charge coverage ratio that we are obligated to comply with under certain circumstances. The ABL Facility has various non-financial covenants, including restrictions on liens, indebtedness, dividends, customary representations and warranties, and customary events of defaults and remedies.
In March 2025, we amended the ABL Facility to extend the maturity date from July 2026 to March 2028, replace the CDOR as the applicable rate with respect to loans denominated in Canadian Dollars with the CORRA, and make certain other technical amendments and related conforming changes. All other material terms and conditions of the Credit Agreement were unchanged including the aggregate commitment, which remained at $500.0 million. As a result of this amendment, the Company recognized a pre-tax loss of $0.2 million in the three months ended March 29, 2025, consisting of unamortized issuance costs.
As of March 29, 2025, we had no outstanding borrowings under the ABL Facility, $2.8 million in letters of credit and $366.9 million available under the ABL Facility.
Mortgage Notes
In December 2007, we entered into thirty-year mortgage notes secured by land and buildings in Denmark with principal payments which began in 2018. In October 2024, we repaid the entire remaining principal balance of the mortgage notes of DKK 142.5 million ($20.7 million).
Finance leases and other financing arrangements
In addition to finance leases, we include loans secured by equipment in this category. As of March 29, 2025, we had $59.4 million outstanding in this category, with maturities ranging from 2025 to 2031.
As of March 29, 2025, we were in compliance with the terms of all our Credit Facilities and the indentures governing the Senior Notes.
v3.25.1
Income Taxes
 3 Months Ended
Mar. 29, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The effective income tax rate was (0.3)% and 11.0% for the three months ended March 29, 2025 and March 30, 2024, respectively. In accordance with ASC 740-270, we recorded an income tax expense of $0.6 million and an income tax benefit of $3.4 million in the three months ended March 29, 2025 and March 30, 2024, respectively. We applied our estimated annual effective tax rate to year-to-date income for includable entities during the respective periods. Entities that are currently generating losses and for which there is a full valuation allowance are excluded from the worldwide effective tax rate calculation and are calculated separately.
The impact of significant discrete items is separately recognized in the quarter in which they occur. The tax expense for discrete items included in the tax provision for the three months ended March 29, 2025, was $14.4 million, compared to a tax expense of $2.6 million for the three months ended March 30, 2024. The discrete tax expense amounts for the three months ended March 29, 2025 comprised primarily of $14.2 million attributable to the valuation allowance on state tax attributes, $9.8 million tax benefit due to goodwill impairment, $8.5 million of tax expense related to the court-ordered divestiture of Towanda and $1.1 million of tax expense attributable to share-based compensation. The discrete tax expense amounts for the three months ended March 30, 2024 comprised primarily of a net $2.0 million of tax expense due to changes in UTPs and a $0.4 million increase to the valuation allowance.
A valuation allowance is recorded when it is more likely than not that some portion of the deferred tax assets will not be realized. In making this determination, we consider all available positive and negative evidence and make certain assumptions. We consider, among other things, our deferred tax liabilities, the overall business environment, our historical earnings and losses, current industry trends, and our outlook for future periods including consideration of certain strategic actions and tax planning opportunities we expect to consummate within the year.
Under ASC 740-10, we provide for UTPs and the related interest expense by adjusting unrecognized tax benefits and accrued interest accordingly. We recognize potential interest and penalties related to unrecognized tax benefits in income tax expense. As of March 29, 2025 and December 31, 2024, we had a liability for unrecognized tax benefits without regard to accrued interest of $45.3 million and $43.7 million, respectively.
The U.S. Congress, the OECD, the EU and other government agencies in jurisdictions in which we and our affiliates do business have maintained a focus on the taxation of multinational companies. During 2023, the OECD issued administrative guidance for Pillar Two, which generally imposes a 15% global minimum tax on multinational companies. Many Pillar Two rules are effective for fiscal years beginning on January 1, 2024, with other aspects to be effective from 2025. We regularly monitor developments in our jurisdictions and consider the impact of the tax-related proposals as they arise. We have included the estimated impacts of Pillar Two rules in our estimated annual effective tax rate.
As of March 29, 2025, the Company maintained a partial indefinite reinvestment assertion on its post-2017 undistributed foreign earnings.
v3.25.1
Segment Information
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We report our segment information in the same way management internally organizes the business to assess performance and make decisions regarding allocation of resources in accordance with ASC 280-10 - Segment Reporting. Management, inclusive of the CODM, reviews net revenues and Adjusted EBITDA to evaluate segment performance and allocate resources. We define Adjusted EBITDA as income (loss), net of tax, adjusted for the following items: income tax expense (benefit); depreciation and amortization; interest expense (income), net; and certain special items consisting of non-recurring net legal and professional expenses and settlements; goodwill impairment; restructuring and asset-related charges; M&A related costs; net (gain) loss on sale of business, property and equipment; loss on extinguishment and refinancing of debt; share-based compensation expense; non-cash foreign exchange transaction/translation (gain) loss; and other special items. We use Adjusted EBITDA because we believe this measure assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. For each of our segments, our CODM uses Adjusted EBITDA to measure operational performance by comparing historical, actual and forecasted amounts on a regular basis, and to allocate resources in the annual budget and forecasting process. Adjusted EBITDA is also a significant performance measure in our annual incentive compensation.
We have two reportable segments, organized and managed principally in geographic regions: North America and Europe. We report all other business activities in Corporate and unallocated costs. The Company’s two reportable segments are defined as follows:
North America – Within our North America segment, the Company supplies windows and doors for residential and commercial markets, serving both new construction and repair & remodel projects. These products reach builders, repair and replacement contractors, architects, and homebuilders through direct and indirect channels, including dealer and distribution networks.
Europe – Within our Europe segment, the Company manufactures and supplies to retailers, merchants, housebuilders and construction companies’ interior doors, doorsets and door kits, in wood and steel, with both standard and high-performance features.
Factors considered in determining the two reportable segments include the nature of business activities, the management structure accountable directly to the CODM, the discrete financial information regularly provided to the CODM, and information presented to the Board of Directors and investors. The CODM is the CEO. No operating segments have been aggregated for our presentation of reportable segments.
The following tables set forth certain information relating to our segments’ operations:
Three Months Ended March 29, 2025
(amounts in thousands)North
America 		EuropeTotal
Revenues from external customers$530,561 $245,445 $776,006 
Intersegment net revenues33 489 522 
Total segment net revenues$530,594 $245,934 $776,528 
Reconciliation of Revenue
Elimination of intersegment net revenues(522)
Total consolidated net revenues$776,006 
Less:
Adjusted cost of sales$465,648 $197,854 $663,502 
Adjusted selling, general and administrative69,499 44,261 113,760 
Other segment items(1)
(20,110)(7,327)(27,437)
Adjusted EBITDA$15,524 $10,657 $26,181 
Total Reportable Segment Adjusted EBITDA $26,181 
Less:
Depreciation and amortization27,295 
Interest expense, net14,918 
Corporate and unallocated costs4,312 
Special items:
Net legal and professional expenses and settlements11,882 
Goodwill impairment137,721 
Restructuring and asset-related charges14,546 
M&A related costs(613)
Net gain on sale of business, property and equipment(653)
Loss on extinguishment and refinancing of debt237 
Share-based compensation expense3,228 
Other special items2,828 
Loss, before tax$(189,520)
(1)Other segment items included depreciation and amortization, which are included as a component of the significant expense categories regularly provided to the CODM above but are not included in the measure of segment profit, as well as other items, which are excluded from the categories regularly provided to the CODM, which primarily included:
North America - Refund of deposits for antidumping and countervailing duties on wood mouldings and millwork products purchased from China from 2022 to 2023.
Europe - Pension expense and foreign currency gains.
Three Months Ended March 29, 2025
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Depreciation and amortization
$17,325 $7,565 $2,405 $27,295 
Capital expenditures27,736 10,290 3,928 41,954 
Segment assets
1,349,336 774,988 294,591 2,418,915 
Three Months Ended March 30, 2024
(amounts in thousands)North
America 		EuropeTotal
Revenues from external customers$679,994 $279,132 $959,126 
Intersegment net revenues8 666 674 
Total segment net revenues$680,002 $279,798 $959,800 
Reconciliation of Revenue
Elimination of intersegment net revenues(674)
Total consolidated net revenues$959,126 
Less:
Adjusted cost of sales$562,164 $223,053 $785,217 
Adjusted selling, general and administrative77,706 48,746 126,452 
Other segment items(1)
(21,074)(7,170)(28,244)
Adjusted EBITDA$61,198 $14,503 $75,701 
Total Reportable Segment Adjusted EBITDA $75,701 
Less:
Depreciation and amortization41,429 
Interest expense, net15,692 
Corporate and unallocated costs6,993 
Special items:
Net legal and professional expenses and settlements17,190 
Restructuring and asset-related charges18,059 
M&A related costs1,125 
Net gain on sale of business, property and equipment(2,865)
Loss on extinguishment and refinancing of debt1,449 
Share-based compensation expense5,059 
Non-cash foreign exchange transaction/translation gain(1,546)
Other special items4,277 
Loss, before tax$(31,161)
(1)Other segment items included depreciation and amortization, which are included as a component of the significant expense categories regularly provided to the CODM above but are not included in the measure of segment profit, as well as other items, which are excluded from the categories regularly provided to the CODM, which primarily included:
North America - Refund of deposits for antidumping and countervailing duties on wood mouldings and millwork products purchased from China from 2020 to 2022.
Europe - Pension expense and foreign currency losses.
Three Months Ended March 30, 2024
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Depreciation and amortization
$17,991 $7,493 $15,945 $41,429 
Capital expenditures21,324 10,914 2,474 34,712 
Segment assets
1,683,330 936,605 313,831 2,933,766 
v3.25.1
Capital Stock
 3 Months Ended
Mar. 29, 2025
Equity [Abstract]  
Capital Stock Capital Stock
Preferred Stock - Our Board of Directors is authorized to issue Preferred Stock from time to time in one or more series and with such rights, privileges, and preferences as the Board of Directors shall from time to time determine. We have not issued any shares of Preferred Stock.
Common Stock - Common Stock includes the basis of outstanding shares plus amounts recorded as additional paid-in capital. Shares outstanding exclude the shares issued to the Employee Benefit Trust that are considered similar to treasury shares and total 193,941 shares at both March 29, 2025 and December 31, 2024, with a total original issuance value of $12.4 million.
We record share repurchases on their trade date and reduce shareholders’ equity and increase accounts payable. Repurchased shares are retired, and the excess of the repurchase price over the par value of the shares is charged to retained earnings.
On July 28, 2022, the Board of Directors reduced our previous repurchase authorization of $400.0 million to a total aggregate value of $200.0 million with no expiration date. As of March 29, 2025, $175.7 million remained under the repurchase program.
During the three months ended March 29, 2025 and March 30, 2024, we did not repurchase shares of our Common Stock.
v3.25.1
Loss Per Share
 3 Months Ended
Mar. 29, 2025
Earnings Per Share [Abstract]  
Loss Per Share Loss Per Share
The basic and diluted loss per share calculations were determined based on the following share data:
Three Months Ended
March 29, 2025March 30, 2024
Weighted average outstanding shares of Common Stock basic84,917,294 85,520,145 
Restricted stock units, performance share units and options to purchase Common Stock— — 
Weighted average outstanding shares of Common Stock diluted
84,917,294 85,520,145 
For the three months ended March 29, 2025 and March 30, 2024, we had net losses from operations. As a result, no potentially dilutive securities were included in the denominator for computing diluted loss per share as their inclusion would have been antidilutive.
The following table provides the securities that could potentially dilute basic earnings per share in the future but were not included in the computation of diluted income per share as their inclusion would be anti-dilutive:
Three Months Ended
March 29, 2025March 30, 2024
Common Stock options1,558,883 1,230,888 
Restricted stock units1,205,152 1,304,172 
Performance share units64,781 355,467 
v3.25.1
Stock Compensation
 3 Months Ended
Mar. 29, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Compensation Stock Compensation
The activity under our incentive plans for the periods presented is reflected in the following tables:
Three Months Ended
March 29, 2025March 30, 2024
SharesWeighted Average Exercise Price Per ShareSharesWeighted Average Exercise Price Per Share
Options granted536,432 $9.05 365,412 $18.52 
Options cancelled41,989 $22.28 9,140 $27.37 
Options exercised— $— 143,180 $14.09 
SharesWeighted Average Grant Date Fair ValueSharesWeighted Average Grant Date Fair Value
RSUs granted1,386,301 $9.02 835,911 $18.52 
PSUs granted620,673 $9.47 417,347 $22.60 
Share-based compensation expense was $3.2 million and $5.1 million for the three months ended March 29, 2025 and March 30, 2024, respectively. As of March 29, 2025, we had $25.8 million of total unrecognized compensation expense related to non-vested share-based compensation arrangements. This cost is expected to be recognized over the remaining weighted-average vesting period of 1.9 years.
v3.25.1
Restructuring and Asset-Related Charges
 3 Months Ended
Mar. 29, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Asset-Related Charges Restructuring and Asset-Related Charges
We engage in restructuring activities focused on improving productivity and operating margins. Restructuring costs primarily relate to costs associated with workforce reductions, plant consolidations and closures, and changes to the management structure to align with our operations. Other restructuring associated costs primarily consist of equipment relocation and facility restoration costs. Asset-related charges consist of accelerated depreciation and amortization of assets due to changes in asset useful lives.
The following table summarizes the restructuring and asset-related charges for the periods indicated:
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Three Months Ended March 29, 2025
Restructuring severance and employee-related charges(1)
$10,019 $1,850 $736 $12,605 
Other restructuring associated costs, net644 1,131 — 1,775 
Asset-related charges— 166 — 166 
Other restructuring associated costs and asset-related charges, net644 1,297 — 1,941 
Total restructuring and asset-related charges, net$10,663 $3,147 $736 $14,546 
Three Months Ended March 30, 2024
Restructuring severance and employee-related charges$8,889 $3,398 $205 $12,492 
Other restructuring associated costs, net2,090 558 — 2,648 
Asset-related charges2,919 — — 2,919 
Other restructuring associated costs and asset-related charges, net5,009 558 — 5,567 
Total restructuring and asset-related charges, net$13,898 $3,956 $205 $18,059 
(1)In the first quarter of fiscal 2025, the Company implemented a reduction in force, which is substantially complete as of March 29, 2025. The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges, net in the accompanying consolidated statement of operations and include $2.8 million related to North America and $0.7 million related to Corporate.
The following is a summary of the restructuring accruals recorded, and charges incurred:
(amounts in thousands)March 29, 2025December 31, 2024
Balance as of January 1$7,605 $3,375 
Current period charges, net14,380 45,377 
Payments(10,585)(40,879)
Currency translation173 (268)
Balance at period end$11,573 $7,605 
Restructuring accruals are expected to be paid within the next 12 months and are included within accrued expenses and other current liabilities in the consolidated balance sheets.
In the second quarter of 2024, we announced plans to close two manufacturing facilities, located in Vista, California and Hawkins, Wisconsin in a continuing effort to simplify our footprint and drive operational efficiencies. As of March 29, 2025, the remaining restructuring accrual for these plans is $0.3 million and the remaining cash outlay is expected to be $4.1 million. We are substantially complete with the facility closures as of March 29, 2025.
Costs and cash outlays associated with the plans:
North America: Vista, California (Vista Composite Facility) and Hawkins, Wisconsin Total Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Restructuring severance and employee-related charges, net(1)
$7,000 $6,986 $161 $8,820 
Other restructuring associated costs(1)
7,000 4,564 53 — 
Product-related cash charges(2)
6,100 6,119 134 — 
Total cash charges$20,100 $17,669 $348 $8,820 
Asset-related charges12,300 12,261 — — 
Inventory and other product-related non-cash charges3,700 3,706 — — 
Total non-cash charges16,000 15,967 — — 
Total costs$36,100 $33,636 $348 $8,820 
Total cash outlays(3)
$26,600 $22,527 $675 $— 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges, net in the accompanying consolidated statements of operations.
(2)The product-related cash charges incurred in the three months ended March 29, 2025, were detrimental to net sales in the accompanying consolidated statement of operations.
(3)Total cash outlays include $5.5 million of cash payments related to debt repayment for financed equipment.
During 2023 and 2024, we announced plans to transform our European operations by changing the operating structure, eliminating certain roles and rationalizing our manufacturing footprint. We plan to close two manufacturing facilities and transfer production to other facilities within Europe. During the three months ended March 29, 2025, we announced additional plans, increasing the total estimated costs by approximately $2.9 million to $27.0 million, after identifying additional opportunities to optimize our European operating structure. As of March 29, 2025, the remaining restructuring accrual for these plans is $3.0 million and the remaining cash outlay is expected to be $5.1 million. We expect to substantially complete these initiatives by the end of 2025.
Costs and cash outlays associated with the plans:
EuropeTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Restructuring severance and employee-related charges(1)
$21,100 $19,321 $1,956 $3,469 
Other restructuring associated costs(1)
5,300 5,182 33 486 
Total cash charges$26,400 $24,503 $1,989 $3,955 
Asset-related non-cash charges600 573 — — 
Total costs$27,000 $25,076 $1,989 $3,955 
Total cash outlays$26,400 $21,300 $3,100 $2,816 
(1)The charges incurred in the three months ended March 29, 2025 and March 30, 2024, were included in restructuring and asset-related charges in the accompanying consolidated statements of operations.
In the third quarter of 2024, we announced plans to close two additional manufacturing facilities in Europe as part of our footprint rationalization activities. As of March 29, 2025, the remaining restructuring accrual for these plans is $0.7 million and the remaining cash outlay is expected to be $7.5 million. We expect to substantially complete the facility closures by the end of 2026.
Costs and cash outlays associated with the plans:
Europe: Sheffield, England and Logstor, DenmarkTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025
Restructuring severance and employee-related charges(1)
$3,200 $2,037 $(105)
Other restructuring associated costs(1)
7,400 1,763 1,098 
Total cash charges$10,600 $3,800 $993 
Asset-related non-cash charges(1)
1,700 1,003 166 
Total costs$12,300 $4,803 $1,159 
Total cash outlays$10,600 $3,100 $1,500 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges in the accompanying consolidated statement of operations.
During 2023, we announced plans to close two manufacturing facilities, located in Tijuana, Mexico and Vista, California as part of our footprint rationalization activities. As of March 29, 2025, the remaining restructuring accrual for these plans is $0.4 million and the remaining cash outlay is expected to be $0.5 million. We were substantially complete with the facility closures at the end of 2024.
Costs and cash outlays associated with the plans:
North America: Tijuana, Mexico and Vista, California (Vista Vinyl Facility)Total Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Restructuring severance and employee-related charges(1)
$7,800 $7,638 $7 $(325)
Other restructuring associated costs(1)
2,700 2,645 12 1,622 
Total cash charges$10,500 $10,283 $19 $1,297 
Asset-related charges(1)
6,600 6,628 — 2,919 
Inventory and other product-related non-cash charges1,500 1,466 — — 
Total non-cash charges8,100 8,094 — 2,919 
Total costs$18,600 $18,377 $19 $4,216 
Total cash outlays$10,400 $9,943 $12 $2,089 
(1)The charges incurred in the three months ended March 29, 2025 and March 30, 2024, were included in restructuring and asset-related charges in the accompanying consolidated statements of operations.
In the third quarter of 2024, we announced to employees a restructuring plan to close a manufacturing facility in Wedowee, Alabama in a continuing effort to simplify our footprint and drive operational efficiencies. We are substantially complete with the facility closure as of March 29, 2025.
Costs and cash outlays associated with the plans:
North America: Wedowee, AlabamaTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025
Restructuring severance and employee-related charges(1)
$1,100 $1,094 $108 
Other restructuring associated costs(1)
600537288
Total cash charges$1,700 $1,631 $396 
Inventory non-cash charges2,1002,112 — 
Total costs$3,800 $3,743 $396 
Total cash outlays$1,700 $1,631 $519 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges in the accompanying consolidated statement of operations.
In the first quarter of 2025, we announced to employees a restructuring plan to close two manufacturing facilities, located in Grinnell, Iowa and Coppell, Texas in a continuing effort to simplify our footprint and drive operational efficiencies. As of March 29, 2025, the remaining restructuring accrual for this plan is $4.3 million and the remaining cash outlay is expected to be $5.1 million. We expect to substantially complete the facility closures by the second quarter of 2025.
Costs and cash outlays associated with the plans:
North America: Grinnell, Iowa and Coppell, TexasTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025
Restructuring severance and employee-related charges(1)
$8,100 $8,101 $6,923 
Other restructuring associated costs(1)
1,100 339 268 
Total cash charges$9,200 $8,440 $7,191 
Inventory non-cash charges(2)
1,300 1,230 1,121 
Total costs$10,500 $9,670 $8,312 
Total cash outlays$9,200 $4,133 $2,885 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges in the accompanying consolidated statement of operations.
(2)The inventory and other product-related non-cash charges in the three months ended March 29, 2025, were included in cost of sales in the accompanying consolidated statement of operations.
v3.25.1
Held for Sale
 3 Months Ended
Mar. 29, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Held for Sale Divestiture
Divestiture of Towanda
On January 17, 2025, pursuant to an order issued by the United States District Court for the Eastern District of Virginia, Richmond Division, and the previously announced Asset Purchase Agreement dated October 11, 2024 and effective December 13, 2024, JWI completed the sale of its Towanda, PA operations to WG Towanda LLC, a wholly owned subsidiary of Woodgrain Inc. Towanda was previously included within the North America segment.
Since the Company will continue manufacturing door skins for its internal needs, the court-ordered divestiture decision did not represent a strategic shift thereby precluding the court-ordered divestiture as qualifying as a discontinued operation.
The selling price of Towanda was $115.0 million, subject to certain adjustments and closing conditions, paid in cash during the first quarter of 2025. In connection with the Asset Purchase Agreement, the Company recognized a $31.4 million goodwill impairment charge during the fourth quarter of 2024. We recorded a $0.7 million pre-tax gain on the sale of Towanda, within SG&A in our consolidated statements of operations for the quarter ended March 29, 2025. The gain is driven by a post-close net working capital adjustment. Towanda had a net carrying value of $110.8 million, which included property and equipment, net of $65.4 million, inventory of $16.7 million, trade receivables of $8.8 million, operating lease assets of $2.2 million, intangible assets, net of $1.5 million and goodwill of $33.6 million. The goodwill is not deductible for tax purposes. The assets were partially offset by accounts payable of $9.2 million and other liabilities which were individually immaterial. We recorded $8.5 million in tax expense related to the gain from the sale within income tax expense in our consolidated statements of operations for the quarter ended March 29, 2025.
Held for Sale
During 2021, the Company ceased the appeal process for its litigation with Steves further described in Note 21 - Commitments and Contingencies. As a result, we were required to divest Towanda. Effective January 17, 2025, pursuant to an order issued by the United States District Court for the Eastern District of Virginia, Richmond Division, and the previously announced Asset Purchase Agreement, JWI completed the sale of Towanda.
As of December 31, 2024, the assets and liabilities associated with the court-ordered divestiture of Towanda qualified as held for sale and were included in assets held for sale and liabilities held for sale in the accompanying consolidated balance sheets.
(amounts in thousands)December 31, 2024
Assets:
Accounts receivable, net$9,072 
Inventories16,319 
Other current assets84 
Property and equipment, net64,661 
Intangible assets, net1,471 
Goodwill33,644 
Operating lease assets, net2,411 
Allowance to reduce assets to estimated fair value, less costs to sell(750)
Assets held for sale$126,912 
Liabilities:
Accounts payable$7,431 
Accrued payroll and benefits1,013 
Accrued expenses and other current liabilities5,959 
Operating lease liability905 
Liabilities held for sale$15,308 
v3.25.1
Other Income, Net
 3 Months Ended
Mar. 29, 2025
Other Income and Expenses [Abstract]  
Other Income, Net Other Income, Net
The table below summarizes the amounts included in other income, net in the accompanying consolidated statements of operations:
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Cash received on real estate investments$(7,567)$— 
Income from refund of deposits for China antidumping and countervailing duties(1)
(2,859)(2,947)
Pension expense867 515 
Gain on commodity derivatives(361)— 
Foreign currency gains, net(209)(1,467)
Governmental assistance(3)(657)
Cash received on impaired notes— (3,537)
JW Australia Transition Services Agreements cost recovery— (4,140)
Insurance reimbursement— (1,655)
Other items, net(454)(375)
Total other income, net$(10,586)$(14,263)
(1)Represents the refund of deposits for antidumping and countervailing duties on wood mouldings and millwork products purchased from China from 2020 to 2023.
v3.25.1
Derivative Financial Instruments
 3 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Foreign currency derivatives not designated as hedges – As a multinational corporation, we are exposed to the impact of foreign currency fluctuations. To the extent borrowings, sales, purchases, or other transactions are not executed in the local currency of the operating unit, we are exposed to foreign currency risk. In most of the countries in which we operate, the exposure to foreign currency movements is limited because the operating revenues and expenses of our business units are substantially denominated in the local currency. To mitigate the exposure, we may enter into a variety of foreign currency derivative contracts. To manage the effect of exchange fluctuations on certain intercompany transactions and intercompany loans and interest that are denominated in foreign currencies, we have foreign currency derivative contracts with a total notional amount of $182.2 million as of March 29, 2025. We do not use derivative financial instruments for trading or speculative purposes. We record mark-to-market changes in the values of these derivatives in other income, net. We recorded mark-to-market losses of $0.8 million and gains of $1.7 million relating to foreign currency derivatives in the three months ended March 29, 2025 and March 30, 2024, respectively.
Foreign currency derivatives designated as cash flow hedges – At the end of 2024 we implemented a hedging program to manage the potential changes in value associated with the amounts payable on raw material purchases that are denominated in foreign currencies to minimize the impact of the changes in foreign currencies. We have foreign currency derivative contracts, which qualify as cash flow hedges, with a total notional amount of $125.5 million. We record gains and losses for these contracts in AOCL to the extent that these hedges are effective and until we recognize the underlying transactions in net earnings, at which time we recognize these gains and losses in cost of sales on our consolidated statements of operations.
No portion of these derivative contracts were deemed ineffective during the three months ended March 29, 2025. In other comprehensive income (loss), we recorded pre-tax mark-to-market losses of $1.6 million for the three months ended March 29, 2025. We reclassified nominal gains previously recorded in other comprehensive income (loss) to cost of sales during the three months ended March 29, 2025.
As of March 29, 2025, approximately $1.6 million in losses is expected to be reclassified to earnings over the next 12 months.
Commodity derivatives not designated as hedges – As part of our operations, we are exposed to the price changes of certain commodities used in the production of some of our finished products. To limit the effects of fluctuations in the future market price paid, the Company has entered into non-designated derivative contracts to manage the cost of anticipated purchases. We have commodity forward swap contracts with a total notional amount of $3.9 million as of March 29, 2025. We do not use derivative financial instruments for trading or speculative purposes. We record mark-to-market changes in the values of these derivatives in other income, net. We recorded mark-to-market gains of $0.4 million relating to commodity derivatives in the three months ended March 29, 2025.
Commodity derivatives designated as cash flow hedges – As part of our operations, we are exposed to the price changes of certain commodities used in the production of some of our finished products. To limit the effects of fluctuations in the future market price paid and related volatility in cash flows, the Company enters into commodity forward swap contracts. These contracts are designated as cash flow hedges; therefore, the related gains or losses are reported in AOCL and reclassified into earnings, to cost of sales, in the periods in which the hedged transactions affect earnings. We have commodity derivative contracts, which qualify as cash flow hedges, with a total notional amount of $6.0 million.
No portion of these derivative contracts were deemed ineffective during the three months ended March 29, 2025. In other comprehensive income (loss), we recorded pre-tax mark-to-market gains of $0.2 million for the three months ended March 29, 2025. We reclassified nominal gains previously recorded in other comprehensive income (loss) to cost of sales during the three months ended March 29, 2025.
As of March 29, 2025, approximately $0.2 million in gains is expected to be reclassified to earnings over the next 12 months.
Interest rate derivatives – We are exposed to interest rate risk in connection with our variable rate long-term debt. In February 2024, we entered into interest rate collar agreements with a cap rate of 4.50% paid against one-month USD-SOFR CME Term floored at 3.982% and 3.895% with outstanding notional amounts aggregating to $100.0 million corresponding to that amount of the debt outstanding under our Term Loan Facility. The interest rate collar agreements were designated as cash flow hedges of a portion of the interest obligations on our Term Loan Facility borrowings and are set to mature in February 2026.
No portion of these interest rate contracts were deemed ineffective during the three months ended March 29, 2025. In other comprehensive income (loss), we recorded pre-tax mark-to-market losses of $0.2 million and gains of $0.4 million during the three months ended March 29, 2025 and March 30, 2024, respectively. There were no gains or losses previously recorded in other comprehensive income (loss) that were reclassified to interest income during the three months ended March 29, 2025. We reclassified gains of $0.1 million previously recorded in other comprehensive income (loss) to interest income during the three months ended March 30, 2024.
As of March 29, 2025, approximately $0.1 million in gains is expected to be reclassified to earnings over the next 12 months.
The fair values of derivative instruments held are as follows:
Derivative assets
(amounts in thousands)Balance Sheet LocationMarch 29, 2025December 31, 2024
Derivatives designated as hedging instruments:
Foreign currency forward contractsOther current assets$4,670 $469 
Commodity contractsOther current assets201 — 
Derivatives not designated as hedging instruments:
Foreign currency forward contractsOther current assets$858 $1,302 
Commodity contractsOther current assets289 — 
Derivative liabilities
(amounts in thousands)Balance Sheet LocationMarch 29, 2025December 31, 2024
Derivatives designated as hedging instruments:
Foreign currency forward contractsAccrued expenses and other current liabilities$6,189 $135 
Interest rate contractsAccrued expenses and other current liabilities185 101 
Interest rate contractsDeferred credits and other liabilities— 36 
Commodity contractsAccrued expenses and other current liabilities— 185 
Derivatives not designated as hedging instruments:
Foreign currency forward contractsAccrued expenses and other current liabilities$2,764 $2,411 
Commodity contractsAccrued expenses and other current liabilities— 73 
v3.25.1
Fair Value of Financial Instruments
 3 Months Ended
Mar. 29, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
We record financial assets and liabilities at fair value based on FASB guidance related to fair value measurements. The guidance requires fair value to be determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Three levels of inputs may be used to measure fair value:
Level 1 – Quoted prices in active markets for identical assets or liabilities.
Level 2 – Quoted market-based inputs or unobservable inputs that are corroborated by market data.
Level 3 – Unobservable inputs that are not corroborated by market data.
The recorded carrying amounts and fair values of these instruments were as follows:
March 29, 2025
(amounts in thousands)Carrying AmountTotal
Fair Value		Level 1Level 2Level 3
Assets:
Cash equivalents$62,171 $62,171 $62,171 $— $— 
Derivative assets, recorded in other current assets6,018 6,018 — 6,018 — 
Deferred compensation plan assets, recorded in other assets5,043 5,043 — 5,043 — 
Liabilities:
Debt, recorded in long-term debt and current maturities of long-term debt$1,190,333 $1,124,976 $— $1,124,976 $— 
Derivative liabilities, recorded in accrued expenses and other current liabilities9,138 9,138 — 9,138 — 
December 31, 2024
(amounts in thousands)Carrying AmountTotal
Fair Value		Level 1Level 2Level 3
Assets:
Cash equivalents$53,935 $53,935 $53,935 $— $— 
Derivative assets, recorded in other current assets1,771 1,771 — 1,771 — 
Deferred compensation plan assets, recorded in other assets5,074 5,074 — 5,074 — 
Liabilities:
Debt, recorded in long-term debt and current maturities of long-term debt$1,191,959 $1,145,817 $— $1,145,817 $— 
Derivative liabilities, recorded in accrued expenses and other current liabilities2,905 2,905 — 2,905 — 
Derivative liabilities, recorded in deferred credits and other liabilities36 36 — 36 — 
Derivative assets and liabilities reported in level 2 primarily include: (1) as of March 29, 2025, foreign currency derivative contracts, commodity derivative contracts and interest rate collar agreements; (2) as of December 31, 2024, foreign currency derivative contracts and interest rate collar agreements. Refer to Note 19 - Derivative Financial Instruments for more information about our derivative assets and liabilities.
Deferred compensation plan assets reported in level 2 consist of mutual funds and corporate-owned life insurance.
There are no material non-financial assets or liabilities as of March 29, 2025 or December 31, 2024.
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 29, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation – We are involved in various legal proceedings, claims, and government audits arising in the ordinary course of business. We record our best estimate of a loss when the loss is considered probable, and the amount of such loss can be reasonably estimated. When a loss is probable and there is a range of estimated loss with no best estimate within the range, we record the minimum estimated liability related to the lawsuit or claim. As additional information becomes available, we reassess the potential liability and revise our accruals, if necessary. Because of uncertainties related to the resolution of lawsuits and claims, the ultimate outcome may differ materially from our estimates.
Other than the matters described below, there were no proceedings or litigation matters involving the Company or its property as of March 29, 2025, that we believe would have a material adverse effect on our consolidated financial position or cash flows, although they could have a material adverse effect on our operating results for a particular reporting period.
Steves & Sons, Inc. v JELD-WEN, Inc. – We sell molded door skins to certain customers pursuant to long-term contracts, and these customers in turn use the molded door skins to manufacture interior doors and compete directly against us in the marketplace. We gave notice of termination of one of these contracts and, on June 29, 2016, the counterparty to the agreement, Steves filed a claim against JWI in the U.S. District Court for the Eastern District of Virginia, Richmond Division (the “Eastern District of Virginia”). The complaint alleged that our acquisition of CMI, a competitor in the molded door skins market, together with subsequent price increases and other alleged acts and omissions, violated antitrust laws, and constituted a breach of contract and breach of warranty. Specifically, the complaint alleged that our acquisition of CMI substantially lessened competition in the molded door skins market. The complaint sought declaratory relief, ordinary and treble damages, and injunctive relief, including divestiture of certain assets acquired in the CMI acquisition.
In February 2018, a jury in the Eastern District of Virginia returned a verdict that was unfavorable to JWI with respect to Steves’ claims that our acquisition of CMI violated Section 7 of the Clayton Act and found that JWI breached the supply agreement between the parties (the “Original Action”). The verdict awarded Steves $12.2 million for past damages under both the Clayton Act and breach of contract claims and $46.5 million in future lost profits under the Clayton Act claim.
During the course of the proceedings in the Eastern District of Virginia, we discovered certain facts that led us to conclude that Steves, its principals, and certain former employees of the Company had misappropriated Company trade secrets, violated the terms of various agreements between the Company and those parties, and violated other laws. On May 11, 2018, a jury in the Eastern District of Virginia returned a verdict on our trade secrets claims against Steves and awarded damages in the amount of $1.2 million. The presiding judge entered a judgment in our favor for those damages, and the entire amount has been paid by Steves. On August 16, 2019, the presiding judge granted Steves’ request for an injunction, prohibiting us from pursuing certain claims against individual defendants pending in Bexar County, Texas (the “Steves Texas Trade Secret Theft Action”). On September 11, 2019, JWI filed a notice of appeal of the Eastern District of Virginia’s injunction to the Fourth Circuit Court of Appeals (the “Fourth Circuit”).
On March 13, 2019, the presiding judge entered an Amended Final Judgment Order in the Original Action, awarding $36.5 million in past damages under the Clayton Act (representing a trebling of the jury’s verdict) and granted divestiture of certain assets acquired in the CMI acquisition, subject to appeal. The judgment also conditionally awarded damages in the event the judgment was overturned on appeal. Specifically, the court awarded $139.4 million as future antitrust damages in the event the divestiture order was overturned on appeal and $9.9 million as past contract damages in the event both the divestiture and antitrust claims were overturned on appeal.
On April 12, 2019, Steves filed a petition requesting an award of its fees and a bill of costs, seeking $28.4 million in attorneys’ fees and $1.7 million in costs in connection with the Original Action. On November 19, 2019, the presiding judge entered an order for further relief awarding Steves an additional $7.1 million in damages for pricing differences from the date of the underlying jury verdict through May 31, 2019 (the “Pricing Action”). We also appealed that ruling. On April 14, 2020, Steves filed a motion for further supplemental relief for pricing differences from the date of the prior order and going forward through the end of the parties’ current supply agreement (the “Future Pricing Action”). We opposed that request for further relief.
JWI filed a supersedeas bond and notice of appeal of the judgment, which was heard by the Fourth Circuit on May 29, 2020. On February 18, 2021, the Fourth Circuit issued its decision on appeal in the Original Action, affirming the Amended Final Judgment Order in part and vacating and remanding in part. The Fourth Circuit vacated the Eastern District of Virginia’s alternative $139.4 million lost-profits award, holding that award was premature because Steves has not suffered the purported injury on which its claim for future lost profits rests. The Fourth Circuit also vacated the Eastern District of Virginia’s judgment for Sam Steves, Edward Steves, and John Pierce on JWI’s trade secrets claims. The Fourth Circuit affirmed the Eastern District of Virginia’s finding of antitrust injury and its award of $36.5 million in past antitrust damages. It also affirmed the Eastern District of Virginia’s divestiture order, while clarifying that JWI retains the right to challenge the terms of any divestiture, including whether a sale to any particular buyer will serve the public interest, and made clear that the Eastern District of Virginia may need to revisit its divestiture order if the special master who has been appointed by the presiding judge cannot locate a satisfactory buyer. JWI then filed a motion for rehearing en banc with the Fourth Circuit that was denied on March 22, 2021.
On May 1, 2024, JWI filed a motion to modify the Amended Final Judgment (the “Motion”) with the Eastern District of Virginia to vacate all court orders requiring divestiture of the Company’s Towanda operations and certain related assets (“Towanda”) in light of changed industry and market factors and conditions. The court-mandated divestiture process continued while the court reviewed the Motion. On October 25, 2024, the Special Master submitted a Report and Recommendation to the court recommending that the court approve the divestiture of Towanda to Woodgrain Inc. (“Woodgrain”) for approximately $115 million, subject to customary closing adjustments. On November 14, 2024, JWI and Steves each filed certain objections to the Report and Recommendation. On December 13, 2024, the court adopted the Special Master’s Report and Recommendation, denying JWI’s Motion, overruling JWI’s objections, and sustaining in part and overruling in part Steves’ objections. The court-ordered divestiture closed on January 17, 2025. On February 6, 2025, JELD-WEN filed a notice of appeal.
During the pendency of the Original Action, on February 14, 2020, Steves filed a complaint and motion for preliminary injunction in the Eastern District of Virginia alleging that we breached the long-term supply agreement between the parties, including, among other claims, by incorrectly calculating the allocation of door skins owed to Steves (the “Allocation Action”). Steves sought an additional allotment of door skins and damages for violation of antitrust laws, tortious interference, and breach of contract. On April 10, 2020, the presiding judge granted Steves’ motion for preliminary injunction, and the parties settled the issues underlying the preliminary injunction on April 30, 2020, and the Company reserved the right to appeal the ruling in the Fourth Circuit. The Company believed all the claims lacked merit and moved to dismiss the antitrust and tortious interference claims.
On June 2, 2020, we entered into a settlement agreement with Steves to resolve the Pricing Action, the Future Pricing Action, and the Allocation Action. As a result of the settlement, Steves filed a notice of satisfaction of judgment in the Pricing Action, withdrew its Future Pricing Action with prejudice, and filed a stipulated dismissal with prejudice in the Allocation Action. The Company also withdrew its appeal of the Pricing Action. The parties agreed to bear their own respective attorneys’ fees and costs in these actions. In partial consideration of the settlement, JWI and Steves entered into an amended supply agreement satisfactory to both parties that, by its terms, ended on September 10, 2021. This settlement had no effect on the Original Action between the parties except to agree that certain specific terms of the Amended Final Judgment Order in the Original Action would apply to the amended supply agreement during the pendency of the appeal of the Original Action. On April 2, 2021, JWI and Steves filed a stipulation regarding the amended supply agreement in the Original Action, stating that regardless of whether the case remains on appeal as of September 10, 2021, and absent further order of the court, the amended supply agreement would be extended until the divestiture of Towanda is complete and Steves’ new supply agreement with the company that acquires Towanda is in effect.
We continue to believe the claims in the settled actions lacked merit and made no admission of liability in these matters.
On October 7, 2021, we entered into a settlement agreement with Steves to resolve the following: (i) Steves’ past and any future claims for attorneys’ fees, expenses, and costs in connection with the Original Action, except that Steves and JWI each reserved the right to seek attorneys’ fees arising out of any challenge of the divestiture process or the final divestiture order; (ii) the Steves Texas Trade Secret Theft Action and the related Fourth Circuit appeal of the Eastern District of Virginia’s injunction in the Original Action; (iii) the past damages award in the Original Action; and (iv) any and all claims and counterclaims, known or unknown, that were asserted or could have been asserted against each other from the beginning of time through the date of the settlement agreement. As a result of the settlement, the parties filed a stipulated notice of satisfaction of the past antitrust damages judgment and a stipulated notice of settlement of Steves’ claim for attorneys’ fees, expenses, and costs against JWI in the Original Action, and Steves filed a notice of withdrawal of its motion for attorneys’ fees and expenses and bill of costs in the Original Action. The Company also filed a notice of dismissal with prejudice and agreed to take no judgment in the Steves Texas Trade Secret Theft Action, and the parties filed a joint agreement for dismissal of the injunction appeal in the Fourth Circuit. On November 3, 2021, we paid $66.4 million to Steves under the settlement agreement.
In re JELD-WEN Holding, Inc. Derivative Litigation – On February 2, 2021, Jason Aldridge, on behalf of the Company, filed a derivative action in the U.S. District Court for the District of Delaware against certain current and former executives and directors of the Company, alleging that the individual defendants breached their fiduciary duties by allowing the wrongful acts alleged in the Steves and Cambridge actions, as well as violations of Section 14(a) and 20(a) of the Exchange Act, unjust enrichment, and waste of corporate assets among other allegations (the “Aldridge Action”). The lawsuit sought compensatory damages, equitable relief, and an award of attorneys’ fees and costs. The plaintiff filed an amended complaint on May 10, 2021.
On June 21, 2021, prior to a response from the Company in the Aldridge Action, Shieta Black and the Board of Trustees of the City of Miami General Employees’ & Sanitation Employees’ Retirement Trust, on behalf of the Company, filed a derivative action in the U.S. District Court for the District of Delaware against certain current and former executives and directors of the Company and Onex, alleging that the defendants breached their fiduciary duties by allowing the wrongful acts alleged in the Steves and Cambridge actions, as well as insider trading, and unjust enrichment among other allegations (the “Black Action”). The lawsuit sought compensatory damages, corporate governance reforms, restitution, equitable relief, and an award of attorneys’ fees and costs. The court granted the Black and Aldridge plaintiffs in motion to consolidate the lawsuits on July 16, 2021.
On June 20, 2022, the parties entered into a settlement agreement of the consolidated matters, which was approved by the Court on approval of the December 20, 2022, and the cases were dismissed with prejudice. In January 2023, the Company, as putative plaintiff, received approximately $10.5 million after attorneys’ fees and costs were deducted as part of the settlement.
Canadian Antitrust Litigation – On May 15, 2020, Développement Émeraude Inc., on behalf of itself and others similarly situated, filed a putative class action lawsuit against the Company and Masonite in the Superior Court of the Province of Quebec, Canada, which was served on us on September 18, 2020 (“the Quebec Action”). The putative class consists of any person in Canada who, since October 2012, purchased one or more interior molded doors from the Company or Masonite. The suit alleges an illegal conspiracy between the Company and Masonite to agree on prices, the distribution of market shares and/or the production levels of interior molded doors and that the plaintiffs suffered damages in that they were charged and paid higher prices for interior molded doors than they would have had to pay but for the alleged anti-competitive conduct. The plaintiffs are seeking compensatory and punitive damages, attorneys’ fees and costs. On September 9, 2020, Kate O’Leary Swinkels, on behalf of herself and others similarly situated, filed a putative class action against the Company and Masonite in the Federal Court of Canada, which was served on us on September 29, 2020 (the “Federal Court Action”). The Federal Court Action makes substantially similar allegations to the Quebec Action and the putative class is represented by the same counsel. In February 2021, the plaintiff in the Federal Court Action issued a proposed Amended Statement of Claim that replaced the named plaintiff, Kate O’Leary Swinkels, with David Regan. The plaintiff has sought a stay of the Quebec Action while the Federal Court Action proceeds. On July 14, 2023, the Company entered into an agreement in principle with class counsel to resolve both actions for an immaterial amount, which the Company recorded in the second quarter of 2023. A formal settlement agreement was executed as of March 27, 2024, and remains subject to court approval. The Company continues to believe the plaintiffs’ claims lack merit and denies any liability or wrongdoing for the claims made against the Company.
We have evaluated the claims against us and recorded provisions based on management’s judgment about the probable outcome of the litigation and have included our estimates in accrued expenses in the accompanying balance sheets. Refer to Note 8 - Accrued Expenses and Other Current Liabilities for more information. While we expect a favorable resolution to these matters, the dispute resolution process could be lengthy, and if the plaintiffs were to prevail completely or substantially in the respective matters described above, such an outcome could have a material adverse effect on our operating results, consolidated financial position, or cash flows.
Self-Insured Risk – We self-insure substantially all our domestic business liability risks including general liability, product liability, warranty, personal injury, auto liability, workers’ compensation, and employee medical benefits. Excess insurance policies from independent insurance companies generally cover exposures between $5.0 million and $200.0 million for domestic product liability risk and exposures between $3.0 million and $200.0 million for auto, general liability, personal injury, and workers’ compensation. We estimate our provision for self-insured losses based upon an evaluation of current claim exposure and historical loss experience. Actual self-insurance losses may vary significantly from these estimates. At March 29, 2025 and December 31, 2024, our accrued liability for self-insured risks was $79.5 million and $83.3 million, respectively.
Indemnifications – At March 29, 2025, we had commitments related to certain representations made in contracts for sale of businesses or property, including the divestiture of JW Australia and the court-ordered divestiture of Towanda. Our indemnity obligations under the relevant agreements may be limited in terms of time, amount or scope. These representations primarily relate to past actions such as responsibility for transfer taxes if they should be claimed, and the adequacy of recorded liabilities, warranty matters, employment benefit plans, income tax matters, or environmental exposures. As it relates to certain income tax related liabilities, the relevant agreements may not provide any cap for such liabilities, and the period in which we would be liable would lapse upon expiration of the statute of limitation for assessment of the underlying taxes. Because of the conditional nature of these obligations and the unique facts and circumstances involved in each particular agreement, we are unable to reasonably estimate the potential maximum exposure associated with these items. We are not aware of any material amounts claimed or expected to be claimed under these indemnities.
From time to time and in limited geographic areas, we have entered into agreements for the sale of our products to certain customers that provide additional indemnifications for liabilities arising from construction or product defects. We cannot estimate the potential magnitude of such exposures, but to the extent specific liabilities have been identified related to product sales, liabilities have been provided in the warranty accrual in the accompanying consolidated balance sheets.
Other Financing Arrangements – At times we are required to provide letters of credit, surety bonds, or guarantees to meet various performance, legal, warranty, environmental, workers compensation, licensing, utility, and governmental requirements. Stand-by letters of credit are provided to certain customers and counterparties in the ordinary course of business as credit support for contractual performance guarantees, advanced payments received from customers, and future funding commitments. The stated values of these letters of credit agreements, surety bonds, and guarantees were $62.7 million and $70.3 million at March 29, 2025 and December 31, 2024, respectively.
Environmental Contingencies – We periodically incur environmental liabilities associated with remediating our current and former manufacturing sites as well as penalties for not complying with environmental rules and regulations. We record a liability for remediation costs when it is probable that we will be responsible for such costs and the costs can be reasonably estimated. These environmental liabilities are estimated based on current available facts and current laws and regulations. Accordingly, it is likely that adjustments to the estimated liabilities will be necessary as additional information becomes available. Short-term environmental liabilities and settlements are recorded in accrued expenses and other current liabilities in the accompanying consolidated balance sheets and totaled $0.1 million at December 31, 2024. There were no short-term environmental liabilities and settlements recorded at March 29, 2025. Long-term environmental liabilities are recorded in deferred credits and other liabilities in the accompanying consolidated balance sheets and totaled $11.8 million at March 29, 2025 and December 31, 2024.
Everett, Washington WADOE Action – In 2007, we were identified by the WADOE as a PLP with respect to our former manufacturing site in Everett, Washington. In 2008, we entered into an Agreed Order with the WADOE to assess historic environmental contamination and remediation feasibility at the site. As part of the order, we agreed to develop a CAP, arising from the feasibility assessment. In December 2020, we submitted to the WADOE a draft feasibility assessment with an array of remedial alternatives, which we considered substantially complete. During 2021, several comment rounds were completed as well as the identification of the Port of Everett and W&W Everett Investment LLC as additional PLPs, with respect to this matter with each PLP being jointly and severally liable for the cleanup costs. The WADOE received the final feasibility assessment on December 31, 2021, containing various remedial alternatives with its preferred remedial alternatives totaling $23.4 million. Based on this study, we determined our range of possible outcomes to be $11.8 million to $33.4 million. On March 1, 2022, we delivered a draft CAP consistent with the preferred alternatives which was approved by WADOE in August 2023. The existing Agreed Order of 2008 was also modified with WADOE in July 2023 to support the development of the associated CAP investigation, sampling and design components. With additional information gathered from the CAP investigation during 2024, we determined the total range of possible remediation cost outcomes to be between $17.4 million to $33.6 million. We retained a provision of $11.8 million within our financial statements which considers the range of possible outcome costs and potential allocation of the responsibility between the identified PLPs, both of which could vary materially from our estimates.
Towanda, Pennsylvania Consent Order – In December 2020, we entered into a COA with the PaDEP to remove a pile of wood fiber waste from our site in Towanda, Pennsylvania, which we acquired in connection with our acquisition of CMI in 2012, by using it as fuel for a boiler at that site. The COA replaced a 2018 Consent Decree between the Company and PaDEP. Under the COA, we are required to achieve certain periodic removal objectives and ultimately remove the entire pile by August 31, 2025. As of December 31, 2024, there was $1.4 million in bonds posted in connection with these obligations. Failure to remove the pile by August 31, 2025, would have resulted in forfeiture of the bonds and penalties by PaDEP. During December 2024, we removed the wood fiber waste pile from the site and our removal obligations under the COA closed.
v3.25.1
Supplemental Cash Flow Information
 3 Months Ended
Mar. 29, 2025
Supplemental Cash Flow Elements [Abstract]  
Supplemental Cash Flow Information Supplemental Cash Flow Information
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Cash Operating Activities:
Operating leases$12,403 $13,144 
Interest payments on financing lease obligations194 110 
Cash paid for amounts included in the measurement of lease liabilities$12,597 $13,254 
Cash Investing Activities:
Purchases of securities for deferred compensation plan(273)(2,112)
Change in securities for deferred compensation plan$(273)$(2,112)
Cash received on notes receivable7 — 
Change in notes receivable$7 $— 
Non-cash Investing Activities:
Property, equipment and intangibles purchased in accounts payable$7,417 $9,956 
Property, equipment and intangibles purchased with debt2,653 1,617 
Customer accounts receivable converted to notes receivable 3 — 
Cash Financing Activities:
Borrowings on long-term debt$— $1,279 
Payments of long-term debt(5,254)(8,791)
Payments of debt issuance and extinguishment costs, including underwriting fees(810)(198)
Change in long-term debt and payments of debt extinguishment costs$(6,064)$(7,710)
Cash paid for amounts included in the measurement of finance lease liabilities $284 $591 
Non-cash Financing Activities:
Debt issuance costs in accounts payable$245 $— 
Shares surrendered for tax obligations for employee share-based transactions in accrued liabilities623 — 
Accounts payable converted to installment notes— 5 
Other Supplemental Cash Flow Information:
Cash taxes paid, net of refunds$8,805 $9,760 
Cash interest paid17,209 11,933 
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Pay vs Performance Disclosure    
Net loss $ (190,138) $ (27,730)
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 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
Description of Company and Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 29, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation – The accompanying unaudited consolidated financial statements as of March 29, 2025, and for the three months ended March 29, 2025 and March 30, 2024, respectively, have been prepared in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the SEC. In the opinion of management, the unaudited consolidated financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company’s financial position for the periods presented. The results for the three months ended March 29, 2025, are not necessarily indicative of the results to be expected for the year ending December 31, 2025, or any other period. The accompanying consolidated balance sheet as of December 31, 2024, was derived from audited financial statements included in our Annual Report on Form 10-K. The accompanying consolidated financial statements do not include all the information and footnotes required by GAAP for annual financial statements. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024.
All U.S. dollar and other currency amounts, except per share amounts, are presented in thousands unless otherwise noted.
Fiscal Year
Fiscal Year – We operate on a fiscal calendar year, and each interim quarter is comprised of two 4-week periods and one 5-week period, with each week ending on a Saturday. Our fiscal year always begins on January 1 and ends on December 31. As a result, our first and fourth quarters may have more, or fewer days included than a traditional 91-day fiscal quarter.
Use of Estimates
Use of Estimates – The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, assumptions, and allocations that affect amounts reported in the consolidated financial statements and related notes. Significant items that are subject to such estimates and assumptions include, but are not limited to, long-lived assets including goodwill and other intangible assets, employee benefit obligations, income tax uncertainties, contingent assets and liabilities, provisions for bad debt, inventory, warranty liabilities, legal claims, valuation of derivatives, environmental remediation, and claims relating to self-insurance. Actual results could differ due to the uncertainty inherent in the nature of these estimates.
Recent Accounting Standards Not Yet Adopted
Recent Accounting Standards Not Yet Adopted – In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted, and should be applied either prospectively to financial statements issued for reporting dates after the effective date or retrospectively to any or all prior periods presented in the financial statements. We have not elected to early adopt this standard. We are currently evaluating the impact of this guidance on the Company’s disclosures.
In November 2024, the FASB issued ASU 2024-03, Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses. ASU 2024-03 requires disclosure of disaggregated information about specific natural expense categories underlying certain income statement expense line items that are considered relevant. The FASB also issued ASU 2025-01, Expense Disaggregation Disclosures: Clarifying the Effective Date, which clarifies the adoption date of ASU 2024-03 as annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted, and the guidance should be applied either prospectively to financial statements issued for reporting dates after the effective date or retrospectively to any or all prior periods presented in the financial statements. We are currently evaluating the impact of this guidance on the Company’s disclosures.
We have considered the applicability and impact of all ASUs. We have assessed the ASUs not listed above and determined that they were either not applicable or were not expected to have a material impact on our financial statements.
v3.25.1
Inventories (Tables)
 3 Months Ended
Mar. 29, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories are stated at the lower of cost or net realizable value. Finished goods and work-in-process inventories include material, labor, and manufacturing overhead costs.
(amounts in thousands)March 29, 2025December 31, 2024
Raw materials$359,888 $380,277 
Work in process20,977 19,763 
Finished goods86,847 82,615 
Inventory valuation reserves(23,287)(22,548)
Total inventories$444,425 $460,107 
v3.25.1
Property and Equipment, Net (Tables)
 3 Months Ended
Mar. 29, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
(amounts in thousands)March 29, 2025December 31, 2024
Property and equipment$2,033,822 $1,991,145 
Accumulated depreciation(1,334,070)(1,309,706)
Total property and equipment, net$699,752 $681,439 
Depreciation expense was recorded as follows:
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Cost of sales$19,172 $19,998 
Selling, general and administrative1,178 1,121 
Total depreciation expense$20,350 $21,119 
v3.25.1
Goodwill (Tables)
 3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table summarizes the changes in goodwill by reportable segment:
(amounts in thousands)North
America		EuropeTotal
Reportable
Segments
Gross carrying amount at December 31, 2024
$181,025 $250,636 $431,661 
Currency translation23 11,977 12,000 
Gross carrying amount at March 29, 2025
$181,048 $262,613 $443,661 
Accumulated impairment losses at December 31, 2024
$— $(116,494)$(116,494)
Impairment(137,721)— (137,721)
Currency translation— (4,281)(4,281)
Accumulated impairment losses at March 29, 2025
$(137,721)$(120,775)$(258,496)
Balance, net of impairment at March 29, 2025
$43,327 $141,838 $185,165 
v3.25.1
Intangible Assets, Net (Tables)
 3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The cost and accumulated amortization values of our intangible assets were as follows:
March 29, 2025
(amounts in thousands)CostAccumulated
Amortization		Net
Book Value
Customer relationships and agreements$122,215 $(94,660)$27,555 
Software78,835 (32,616)46,219 
Trademarks and trade names31,843 (12,734)19,109 
Patents, licenses and rights13,524 (5,853)7,671 
Total amortizable intangibles$246,417 $(145,863)$100,554 
December 31, 2024
(amounts in thousands)CostAccumulated
Amortization		Net
Book Value
Customer relationships and agreements$119,674 $(90,073)$29,601 
Software76,048 (30,021)46,027 
Trademarks and trade names31,384 (12,113)19,271 
Patents, licenses and rights12,627 (5,539)7,088 
Total amortizable intangibles$239,733 $(137,746)$101,987 
Schedule of Finite-lived Intangible Assets Amortization Expense
Amortization expense was recorded as follows:
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Amortization expense$5,493 $18,916 
v3.25.1
Accrued Expenses and Other Current Liabilities (Tables)
 3 Months Ended
Mar. 29, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
(amounts in thousands)March 29, 2025December 31, 2024
Accrued sales and advertising rebates$55,897 $74,043 
Current portion of operating lease liability32,922 32,738 
Non-income related taxes23,693 19,952 
Current portion of warranty liability (Note 9)
18,759 18,394 
Accrued freight16,351 15,174 
Current portion of accrued claim costs relating to self-insurance programs14,540 15,254 
Current portion of restructuring accrual (Note 16)
11,573 7,605 
Accrued expenses10,108 10,783 
Accrued interest payable9,806 9,846 
Current portion of derivative liability (Note 19)
9,138 2,905 
Legal claims provision (Note 21)
5,059 4,678 
Deferred revenue and customer deposits4,463 5,404 
Accrued income taxes payable4,180 7,433 
Total accrued expenses and other current liabilities$216,489 $224,209 
v3.25.1
Warranty Liability (Tables)
 3 Months Ended
Mar. 29, 2025
Product Warranties Disclosures [Abstract]  
Schedule of Analysis of Warranty Liability
An analysis of our warranty liability is as follows:
(amounts in thousands)March 29, 2025March 30, 2024
Balance as of January 1$47,289 $53,247 
Current period charges2,943 6,027 
Experience adjustments— 394 
Payments(5,820)(6,760)
Currency translation295 (330)
Balance at period end$44,707 $52,578 
Current portion(18,759)(22,201)
Long-term portion$25,948 $30,377 
v3.25.1
Long-Term Debt (Tables)
 3 Months Ended
Mar. 29, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
Our long-term debt, net of original issue discounts and unamortized debt issuance costs, consisted of the following:
March 29, 2025March 29, 2025December 31, 2024
(amounts in thousands)Interest Rate
Senior Notes
4.88% - 7.00%
$750,000 $750,000 
Term Loan Facility
6.44%(1)
380,888 380,888 
Finance leases and other financing arrangements
1.00% - 8.28%(1)
59,445 61,071 
Total Debt
$1,190,333 $1,191,959 
Unamortized debt issuance costs and original issue discounts(8,124)(8,583)
Current maturities of long-term debt(25,088)(30,927)
Long-term debt$1,157,121 $1,152,449 
(1)Term Loan Facility and certain finance leases and other financing arrangements are subject to variable interest rates.
v3.25.1
Segment Information (Tables)
 3 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reportable Segments, by Segment
The following tables set forth certain information relating to our segments’ operations:
Three Months Ended March 29, 2025
(amounts in thousands)North
America 		EuropeTotal
Revenues from external customers$530,561 $245,445 $776,006 
Intersegment net revenues33 489 522 
Total segment net revenues$530,594 $245,934 $776,528 
Reconciliation of Revenue
Elimination of intersegment net revenues(522)
Total consolidated net revenues$776,006 
Less:
Adjusted cost of sales$465,648 $197,854 $663,502 
Adjusted selling, general and administrative69,499 44,261 113,760 
Other segment items(1)
(20,110)(7,327)(27,437)
Adjusted EBITDA$15,524 $10,657 $26,181 
Total Reportable Segment Adjusted EBITDA $26,181 
Less:
Depreciation and amortization27,295 
Interest expense, net14,918 
Corporate and unallocated costs4,312 
Special items:
Net legal and professional expenses and settlements11,882 
Goodwill impairment137,721 
Restructuring and asset-related charges14,546 
M&A related costs(613)
Net gain on sale of business, property and equipment(653)
Loss on extinguishment and refinancing of debt237 
Share-based compensation expense3,228 
Other special items2,828 
Loss, before tax$(189,520)
(1)Other segment items included depreciation and amortization, which are included as a component of the significant expense categories regularly provided to the CODM above but are not included in the measure of segment profit, as well as other items, which are excluded from the categories regularly provided to the CODM, which primarily included:
North America - Refund of deposits for antidumping and countervailing duties on wood mouldings and millwork products purchased from China from 2022 to 2023.
Europe - Pension expense and foreign currency gains.
Three Months Ended March 29, 2025
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Depreciation and amortization
$17,325 $7,565 $2,405 $27,295 
Capital expenditures27,736 10,290 3,928 41,954 
Segment assets
1,349,336 774,988 294,591 2,418,915 
Three Months Ended March 30, 2024
(amounts in thousands)North
America 		EuropeTotal
Revenues from external customers$679,994 $279,132 $959,126 
Intersegment net revenues8 666 674 
Total segment net revenues$680,002 $279,798 $959,800 
Reconciliation of Revenue
Elimination of intersegment net revenues(674)
Total consolidated net revenues$959,126 
Less:
Adjusted cost of sales$562,164 $223,053 $785,217 
Adjusted selling, general and administrative77,706 48,746 126,452 
Other segment items(1)
(21,074)(7,170)(28,244)
Adjusted EBITDA$61,198 $14,503 $75,701 
Total Reportable Segment Adjusted EBITDA $75,701 
Less:
Depreciation and amortization41,429 
Interest expense, net15,692 
Corporate and unallocated costs6,993 
Special items:
Net legal and professional expenses and settlements17,190 
Restructuring and asset-related charges18,059 
M&A related costs1,125 
Net gain on sale of business, property and equipment(2,865)
Loss on extinguishment and refinancing of debt1,449 
Share-based compensation expense5,059 
Non-cash foreign exchange transaction/translation gain(1,546)
Other special items4,277 
Loss, before tax$(31,161)
(1)Other segment items included depreciation and amortization, which are included as a component of the significant expense categories regularly provided to the CODM above but are not included in the measure of segment profit, as well as other items, which are excluded from the categories regularly provided to the CODM, which primarily included:
North America - Refund of deposits for antidumping and countervailing duties on wood mouldings and millwork products purchased from China from 2020 to 2022.
Europe - Pension expense and foreign currency losses.
Three Months Ended March 30, 2024
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Depreciation and amortization
$17,991 $7,493 $15,945 $41,429 
Capital expenditures21,324 10,914 2,474 34,712 
Segment assets
1,683,330 936,605 313,831 2,933,766 
v3.25.1
Loss Per Share (Tables)
 3 Months Ended
Mar. 29, 2025
Earnings Per Share [Abstract]  
Schedule of Weighted Average Shares Outstanding, Basic and Diluted
The basic and diluted loss per share calculations were determined based on the following share data:
Three Months Ended
March 29, 2025March 30, 2024
Weighted average outstanding shares of Common Stock basic84,917,294 85,520,145 
Restricted stock units, performance share units and options to purchase Common Stock— — 
Weighted average outstanding shares of Common Stock diluted
84,917,294 85,520,145 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table provides the securities that could potentially dilute basic earnings per share in the future but were not included in the computation of diluted income per share as their inclusion would be anti-dilutive:
Three Months Ended
March 29, 2025March 30, 2024
Common Stock options1,558,883 1,230,888 
Restricted stock units1,205,152 1,304,172 
Performance share units64,781 355,467 
v3.25.1
Stock Compensation (Tables)
 3 Months Ended
Mar. 29, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The activity under our incentive plans for the periods presented is reflected in the following tables:
Three Months Ended
March 29, 2025March 30, 2024
SharesWeighted Average Exercise Price Per ShareSharesWeighted Average Exercise Price Per Share
Options granted536,432 $9.05 365,412 $18.52 
Options cancelled41,989 $22.28 9,140 $27.37 
Options exercised— $— 143,180 $14.09 
SharesWeighted Average Grant Date Fair ValueSharesWeighted Average Grant Date Fair Value
RSUs granted1,386,301 $9.02 835,911 $18.52 
PSUs granted620,673 $9.47 417,347 $22.60 
Schedule of RSU and PSU Activity
The activity under our incentive plans for the periods presented is reflected in the following tables:
Three Months Ended
March 29, 2025March 30, 2024
SharesWeighted Average Exercise Price Per ShareSharesWeighted Average Exercise Price Per Share
Options granted536,432 $9.05 365,412 $18.52 
Options cancelled41,989 $22.28 9,140 $27.37 
Options exercised— $— 143,180 $14.09 
SharesWeighted Average Grant Date Fair ValueSharesWeighted Average Grant Date Fair Value
RSUs granted1,386,301 $9.02 835,911 $18.52 
PSUs granted620,673 $9.47 417,347 $22.60 
v3.25.1
Restructuring and Asset-Related Charges (Tables)
 3 Months Ended
Mar. 29, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Asset Related Costs
The following table summarizes the restructuring and asset-related charges for the periods indicated:
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Three Months Ended March 29, 2025
Restructuring severance and employee-related charges(1)
$10,019 $1,850 $736 $12,605 
Other restructuring associated costs, net644 1,131 — 1,775 
Asset-related charges— 166 — 166 
Other restructuring associated costs and asset-related charges, net644 1,297 — 1,941 
Total restructuring and asset-related charges, net$10,663 $3,147 $736 $14,546 
Three Months Ended March 30, 2024
Restructuring severance and employee-related charges$8,889 $3,398 $205 $12,492 
Other restructuring associated costs, net2,090 558 — 2,648 
Asset-related charges2,919 — — 2,919 
Other restructuring associated costs and asset-related charges, net5,009 558 — 5,567 
Total restructuring and asset-related charges, net$13,898 $3,956 $205 $18,059 
(1)In the first quarter of fiscal 2025, the Company implemented a reduction in force, which is substantially complete as of March 29, 2025. The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges, net in the accompanying consolidated statement of operations and include $2.8 million related to North America and $0.7 million related to Corporate.
Costs and cash outlays associated with the plans:
North America: Vista, California (Vista Composite Facility) and Hawkins, Wisconsin Total Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Restructuring severance and employee-related charges, net(1)
$7,000 $6,986 $161 $8,820 
Other restructuring associated costs(1)
7,000 4,564 53 — 
Product-related cash charges(2)
6,100 6,119 134 — 
Total cash charges$20,100 $17,669 $348 $8,820 
Asset-related charges12,300 12,261 — — 
Inventory and other product-related non-cash charges3,700 3,706 — — 
Total non-cash charges16,000 15,967 — — 
Total costs$36,100 $33,636 $348 $8,820 
Total cash outlays(3)
$26,600 $22,527 $675 $— 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges, net in the accompanying consolidated statements of operations.
(2)The product-related cash charges incurred in the three months ended March 29, 2025, were detrimental to net sales in the accompanying consolidated statement of operations.
(3)Total cash outlays include $5.5 million of cash payments related to debt repayment for financed equipment.
Costs and cash outlays associated with the plans:
EuropeTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Restructuring severance and employee-related charges(1)
$21,100 $19,321 $1,956 $3,469 
Other restructuring associated costs(1)
5,300 5,182 33 486 
Total cash charges$26,400 $24,503 $1,989 $3,955 
Asset-related non-cash charges600 573 — — 
Total costs$27,000 $25,076 $1,989 $3,955 
Total cash outlays$26,400 $21,300 $3,100 $2,816 
(1)The charges incurred in the three months ended March 29, 2025 and March 30, 2024, were included in restructuring and asset-related charges in the accompanying consolidated statements of operations.
Costs and cash outlays associated with the plans:
Europe: Sheffield, England and Logstor, DenmarkTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025
Restructuring severance and employee-related charges(1)
$3,200 $2,037 $(105)
Other restructuring associated costs(1)
7,400 1,763 1,098 
Total cash charges$10,600 $3,800 $993 
Asset-related non-cash charges(1)
1,700 1,003 166 
Total costs$12,300 $4,803 $1,159 
Total cash outlays$10,600 $3,100 $1,500 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges in the accompanying consolidated statement of operations.
Costs and cash outlays associated with the plans:
North America: Tijuana, Mexico and Vista, California (Vista Vinyl Facility)Total Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Restructuring severance and employee-related charges(1)
$7,800 $7,638 $7 $(325)
Other restructuring associated costs(1)
2,700 2,645 12 1,622 
Total cash charges$10,500 $10,283 $19 $1,297 
Asset-related charges(1)
6,600 6,628 — 2,919 
Inventory and other product-related non-cash charges1,500 1,466 — — 
Total non-cash charges8,100 8,094 — 2,919 
Total costs$18,600 $18,377 $19 $4,216 
Total cash outlays$10,400 $9,943 $12 $2,089 
(1)The charges incurred in the three months ended March 29, 2025 and March 30, 2024, were included in restructuring and asset-related charges in the accompanying consolidated statements of operations.
Costs and cash outlays associated with the plans:
North America: Wedowee, AlabamaTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025
Restructuring severance and employee-related charges(1)
$1,100 $1,094 $108 
Other restructuring associated costs(1)
600537288
Total cash charges$1,700 $1,631 $396 
Inventory non-cash charges2,1002,112 — 
Total costs$3,800 $3,743 $396 
Total cash outlays$1,700 $1,631 $519 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges in the accompanying consolidated statement of operations.
Costs and cash outlays associated with the plans:
North America: Grinnell, Iowa and Coppell, TexasTotal Estimated CostsCumulative Costs to-dateCosts in the Three Months Ended
(amounts in thousands)March 29, 2025
Restructuring severance and employee-related charges(1)
$8,100 $8,101 $6,923 
Other restructuring associated costs(1)
1,100 339 268 
Total cash charges$9,200 $8,440 $7,191 
Inventory non-cash charges(2)
1,300 1,230 1,121 
Total costs$10,500 $9,670 $8,312 
Total cash outlays$9,200 $4,133 $2,885 
(1)The charges incurred in the three months ended March 29, 2025, were included in restructuring and asset-related charges in the accompanying consolidated statement of operations.
(2)The inventory and other product-related non-cash charges in the three months ended March 29, 2025, were included in cost of sales in the accompanying consolidated statement of operations.
Schedule of Restructuring Reserve by Type of Cost
The following is a summary of the restructuring accruals recorded, and charges incurred:
(amounts in thousands)March 29, 2025December 31, 2024
Balance as of January 1$7,605 $3,375 
Current period charges, net14,380 45,377 
Payments(10,585)(40,879)
Currency translation173 (268)
Balance at period end$11,573 $7,605 
v3.25.1
Held for Sale (Tables)
 3 Months Ended
Mar. 29, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Accompanying Balance Sheet
As of December 31, 2024, the assets and liabilities associated with the court-ordered divestiture of Towanda qualified as held for sale and were included in assets held for sale and liabilities held for sale in the accompanying consolidated balance sheets.
(amounts in thousands)December 31, 2024
Assets:
Accounts receivable, net$9,072 
Inventories16,319 
Other current assets84 
Property and equipment, net64,661 
Intangible assets, net1,471 
Goodwill33,644 
Operating lease assets, net2,411 
Allowance to reduce assets to estimated fair value, less costs to sell(750)
Assets held for sale$126,912 
Liabilities:
Accounts payable$7,431 
Accrued payroll and benefits1,013 
Accrued expenses and other current liabilities5,959 
Operating lease liability905 
Liabilities held for sale$15,308 
v3.25.1
Other Income, Net (Tables)
 3 Months Ended
Mar. 29, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Income, Net
The table below summarizes the amounts included in other income, net in the accompanying consolidated statements of operations:
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Cash received on real estate investments$(7,567)$— 
Income from refund of deposits for China antidumping and countervailing duties(1)
(2,859)(2,947)
Pension expense867 515 
Gain on commodity derivatives(361)— 
Foreign currency gains, net(209)(1,467)
Governmental assistance(3)(657)
Cash received on impaired notes— (3,537)
JW Australia Transition Services Agreements cost recovery— (4,140)
Insurance reimbursement— (1,655)
Other items, net(454)(375)
Total other income, net$(10,586)$(14,263)
(1)Represents the refund of deposits for antidumping and countervailing duties on wood mouldings and millwork products purchased from China from 2020 to 2023.
v3.25.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The fair values of derivative instruments held are as follows:
Derivative assets
(amounts in thousands)Balance Sheet LocationMarch 29, 2025December 31, 2024
Derivatives designated as hedging instruments:
Foreign currency forward contractsOther current assets$4,670 $469 
Commodity contractsOther current assets201 — 
Derivatives not designated as hedging instruments:
Foreign currency forward contractsOther current assets$858 $1,302 
Commodity contractsOther current assets289 — 
Derivative liabilities
(amounts in thousands)Balance Sheet LocationMarch 29, 2025December 31, 2024
Derivatives designated as hedging instruments:
Foreign currency forward contractsAccrued expenses and other current liabilities$6,189 $135 
Interest rate contractsAccrued expenses and other current liabilities185 101 
Interest rate contractsDeferred credits and other liabilities— 36 
Commodity contractsAccrued expenses and other current liabilities— 185 
Derivatives not designated as hedging instruments:
Foreign currency forward contractsAccrued expenses and other current liabilities$2,764 $2,411 
Commodity contractsAccrued expenses and other current liabilities— 73 
v3.25.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 29, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The recorded carrying amounts and fair values of these instruments were as follows:
March 29, 2025
(amounts in thousands)Carrying AmountTotal
Fair Value		Level 1Level 2Level 3
Assets:
Cash equivalents$62,171 $62,171 $62,171 $— $— 
Derivative assets, recorded in other current assets6,018 6,018 — 6,018 — 
Deferred compensation plan assets, recorded in other assets5,043 5,043 — 5,043 — 
Liabilities:
Debt, recorded in long-term debt and current maturities of long-term debt$1,190,333 $1,124,976 $— $1,124,976 $— 
Derivative liabilities, recorded in accrued expenses and other current liabilities9,138 9,138 — 9,138 — 
December 31, 2024
(amounts in thousands)Carrying AmountTotal
Fair Value		Level 1Level 2Level 3
Assets:
Cash equivalents$53,935 $53,935 $53,935 $— $— 
Derivative assets, recorded in other current assets1,771 1,771 — 1,771 — 
Deferred compensation plan assets, recorded in other assets5,074 5,074 — 5,074 — 
Liabilities:
Debt, recorded in long-term debt and current maturities of long-term debt$1,191,959 $1,145,817 $— $1,145,817 $— 
Derivative liabilities, recorded in accrued expenses and other current liabilities2,905 2,905 — 2,905 — 
Derivative liabilities, recorded in deferred credits and other liabilities36 36 — 36 — 
v3.25.1
Supplemental Cash Flow Information (Tables)
 3 Months Ended
Mar. 29, 2025
Supplemental Cash Flow Elements [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures
Three Months Ended
(amounts in thousands)March 29, 2025March 30, 2024
Cash Operating Activities:
Operating leases$12,403 $13,144 
Interest payments on financing lease obligations194 110 
Cash paid for amounts included in the measurement of lease liabilities$12,597 $13,254 
Cash Investing Activities:
Purchases of securities for deferred compensation plan(273)(2,112)
Change in securities for deferred compensation plan$(273)$(2,112)
Cash received on notes receivable7 — 
Change in notes receivable$7 $— 
Non-cash Investing Activities:
Property, equipment and intangibles purchased in accounts payable$7,417 $9,956 
Property, equipment and intangibles purchased with debt2,653 1,617 
Customer accounts receivable converted to notes receivable 3 — 
Cash Financing Activities:
Borrowings on long-term debt$— $1,279 
Payments of long-term debt(5,254)(8,791)
Payments of debt issuance and extinguishment costs, including underwriting fees(810)(198)
Change in long-term debt and payments of debt extinguishment costs$(6,064)$(7,710)
Cash paid for amounts included in the measurement of finance lease liabilities $284 $591 
Non-cash Financing Activities:
Debt issuance costs in accounts payable$245 $— 
Shares surrendered for tax obligations for employee share-based transactions in accrued liabilities623 — 
Accounts payable converted to installment notes— 5 
Other Supplemental Cash Flow Information:
Cash taxes paid, net of refunds$8,805 $9,760 
Cash interest paid17,209 11,933 
v3.25.1
Description of Company and Summary of Significant Accounting Policies (Details)
$ in Millions
 3 Months Ended
Dec. 31, 2023
USD ($)
Cares Act, Deferral of Social Security Tax  
Unusual or Infrequent Item, or Both [Line Items]  
Other operating income (expense), net $ 6.1
v3.25.1
Divestiture (Details) - Disposed of by sale - Towanda - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Jan. 17, 2025
Dec. 31, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Adjustment of purchase price $ 115.0    
Goodwill impairment   $ 33.6 $ 31.4
Pre-tax gain on the sale 0.7    
Liabilities held for sale   110.8  
Property and equipment, net   65.4  
Inventory   16.7  
Trade receivable   8.8  
Lease assets   2.2  
Intangible assets   1.5  
Accounts payable   $ 9.2  
Tax expense related to gain $ 8.5    
v3.25.1
Accounts Receivable (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Dec. 31, 2024
Receivables [Abstract]    
Allowance for credit losses $ 10.0 $ 9.6
v3.25.1
Inventories (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials $ 359,888 $ 380,277
Work in process 20,977 19,763
Finished goods 86,847 82,615
Inventory valuation reserves (23,287) (22,548)
Total inventories $ 444,425 $ 460,107
v3.25.1
Property and Equipment, Net - Summary (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Property, Plant and Equipment [Abstract]    
Property and equipment $ 2,033,822 $ 1,991,145
Accumulated depreciation (1,334,070) (1,309,706)
Total property and equipment, net $ 699,752 $ 681,439
v3.25.1
Property and Equipment, Net - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 29, 2025
USD ($)
Property, Plant and Equipment [Abstract]  
Gain due to currency translations for foreign assets $ 7.8
v3.25.1
Property and Equipment, Net - Depreciation (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Property, Plant and Equipment [Line Items]    
Depreciation $ 20,350 $ 21,119
Cost of sales    
Property, Plant and Equipment [Line Items]    
Depreciation 19,172 19,998
Selling, general and administrative    
Property, Plant and Equipment [Line Items]    
Depreciation $ 1,178 $ 1,121
v3.25.1
Goodwill - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
USD ($)
Mar. 30, 2024
USD ($)
Goodwill [Line Items]    
Estimated decline in GDP 0.0040  
Goodwill impairment $ 137,721 $ 0
Single Family    
Goodwill [Line Items]    
Decline in business (as a percent) 0.0070  
Multifamily | Maximum    
Goodwill [Line Items]    
Decline in business (as a percent) 0.060  
Multifamily | Minimum    
Goodwill [Line Items]    
Decline in business (as a percent) 0.035  
Europe    
Goodwill [Line Items]    
Fair value in excess of carrying amount (as a percent) 10.00%  
v3.25.1
Goodwill - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 31, 2024
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]      
Impairment $ (137,721) $ 0  
Balance, net of impairment at March 29, 2025 185,165   $ 315,167
Operating segments      
Goodwill, Gross [Roll Forward]      
Goodwill, gross beginning balance 431,661    
Currency translation 12,000    
Goodwill, gross ending balance 443,661    
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]      
Goodwill, accumulated impairment loss beginning balance (116,494)    
Impairment (137,721)    
Currency translation (4,281)    
Goodwill, accumulated impairment loss ending balance (258,496)    
Balance, net of impairment at March 29, 2025 185,165    
North America | Operating segments      
Goodwill, Gross [Roll Forward]      
Goodwill, gross beginning balance 181,025    
Currency translation 23    
Goodwill, gross ending balance 181,048    
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]      
Goodwill, accumulated impairment loss beginning balance 0    
Impairment (137,721)    
Currency translation 0    
Goodwill, accumulated impairment loss ending balance (137,721)    
Balance, net of impairment at March 29, 2025 43,327    
Europe | Operating segments      
Goodwill, Gross [Roll Forward]      
Goodwill, gross beginning balance 250,636    
Currency translation 11,977    
Goodwill, gross ending balance 262,613    
Goodwill, Impaired, Accumulated Impairment Loss [Roll Forward]      
Goodwill, accumulated impairment loss beginning balance (116,494)    
Impairment 0    
Currency translation (4,281)    
Goodwill, accumulated impairment loss ending balance (120,775)    
Balance, net of impairment at March 29, 2025 $ 141,838    
v3.25.1
Intangible Assets, Net - Cost and Accumulated Amortization (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets    
Cost $ 246,417 $ 239,733
Accumulated Amortization (145,863) (137,746)
Net Book Value 100,554 101,987
Customer relationships and agreements    
Finite-Lived Intangible Assets    
Cost 122,215 119,674
Accumulated Amortization (94,660) (90,073)
Net Book Value 27,555 29,601
Software    
Finite-Lived Intangible Assets    
Cost 78,835 76,048
Accumulated Amortization (32,616) (30,021)
Net Book Value 46,219 46,027
Trademarks and trade names    
Finite-Lived Intangible Assets    
Cost 31,843 31,384
Accumulated Amortization (12,734) (12,113)
Net Book Value 19,109 19,271
Patents, licenses and rights    
Finite-Lived Intangible Assets    
Cost 13,524 12,627
Accumulated Amortization (5,853) (5,539)
Net Book Value $ 7,671 $ 7,088
v3.25.1
Intangible Assets, Net - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Finite-Lived Intangible Assets    
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] Selling, general and administrative  
Currency translation increase (decrease) $ 0.6  
Software    
Finite-Lived Intangible Assets    
Finite lived intangible assets written off   $ 14.1
v3.25.1
Intangible Assets, Net - Amortization Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Amortization expense $ 5,493 $ 18,916
v3.25.1
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Mar. 30, 2024
Accounts Payable and Accrued Liabilities, Current      
Accrued sales and advertising rebates $ 55,897 $ 74,043  
Current portion of operating lease liability 32,922 32,738  
Non-income related taxes 23,693 19,952  
Current portion of warranty liability (Note 9) 18,759 18,394 $ 22,201
Accrued freight 16,351 15,174  
Current portion of accrued claim costs relating to self-insurance programs 14,540 15,254  
Current portion of restructuring accrual (Note 16) 11,573 7,605  
Accrued expenses 10,108 10,783  
Accrued interest payable 9,806 9,846  
Current portion of derivative liability (Note 19) 9,138 2,905  
Legal claims provision (Note 21) 5,059 4,678  
Deferred revenue and customer deposits 4,463 5,404  
Accrued income taxes payable 4,180 7,433  
Total accrued expenses and other current liabilities $ 216,489 $ 224,209  
v3.25.1
Warranty Liability - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Dec. 31, 2024
Mar. 30, 2024
Dec. 31, 2023
Product Warranty Liability        
Accrued warranty liability $ 44,707 $ 47,289 $ 52,578 $ 53,247
Product warranty, discount adjustment 3,300      
North America        
Product Warranty Liability        
Accrued warranty liability $ 38,400      
Minimum        
Product Warranty Liability        
Product warranty term (in years) 1 year      
Product warranty discount rate (as a percent) 4.30%      
Maximum        
Product Warranty Liability        
Product warranty term (in years) 10 years      
Product warranty discount rate (as a percent) 4.57%      
v3.25.1
Warranty Liability - Analysis of Warranty Liability (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 31, 2024
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease)      
Balance at beginning balance $ 47,289 $ 53,247  
Current period charges 2,943 6,027  
Experience adjustments 0 394  
Payments (5,820) (6,760)  
Currency translation 295 (330)  
Balance at ending balance 44,707 52,578  
Current portion (18,759) (22,201) $ (18,394)
Long-term portion $ 25,948 $ 30,377  
v3.25.1
Long-Term Debt - Long Term Debt (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Debt Instrument    
Total Debt $ 1,190,333 $ 1,191,959
Unamortized debt issuance costs and original issue discounts (8,124) (8,583)
Current maturities of long-term debt (25,088) (30,927)
Long-term debt 1,157,121 1,152,449
Senior Notes    
Debt Instrument    
Long-term debt, gross $ 750,000 750,000
Senior Notes | Minimum    
Debt Instrument    
Effective interest rate (as a percent) 4.88%  
Senior Notes | Maximum    
Debt Instrument    
Effective interest rate (as a percent) 7.00%  
Term Loan Facility | Term Loans    
Debt Instrument    
Effective interest rate (as a percent) 6.44%  
Long-term debt, gross $ 380,888 380,888
Finance leases and other financing arrangements    
Debt Instrument    
Finance leases and other financing arrangements $ 59,445 $ 61,071
Finance leases and other financing arrangements | Minimum    
Debt Instrument    
Finance lease, rate (as a percent) 1.00%  
Finance leases and other financing arrangements | Maximum    
Debt Instrument    
Finance lease, rate (as a percent) 8.28%  
v3.25.1
Long-Term Debt - Narrative (Details)
kr in Millions
 1 Months Ended 3 Months Ended
Sep. 30, 2024
USD ($)
Aug. 31, 2024
USD ($)
Jan. 31, 2024
USD ($)
Jul. 31, 2021
USD ($)
Dec. 31, 2007
Mar. 29, 2025
USD ($)
Mar. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Oct. 31, 2024
USD ($)
Oct. 31, 2024
DKK (kr)
Feb. 29, 2024
USD ($)
Aug. 31, 2023
USD ($)
May 31, 2020
USD ($)
Dec. 31, 2017
USD ($)
tranche
Debt Instrument                                
Amortization of deferred financing costs           $ 535,000 $ 434,000                  
Loss on extinguishment and refinancing of debt (Note 10)           237,000 $ 1,449,000                  
Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate cap                                
Debt Instrument                                
Derivative fixed interest rate (as a percent)                         4.50%      
Notional amount                         $ 100,000,000      
Minimum | Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate cap                                
Debt Instrument                                
Derivative variable interest rate (as a percent)                         3.982%      
Minimum | SOFR | Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate cap                                
Debt Instrument                                
Derivative variable interest rate (as a percent)                         3.982%      
Maximum | Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate cap                                
Debt Instrument                                
Derivative variable interest rate (as a percent)                         3.895%      
Maximum | SOFR | Cash flow hedge | Derivatives designated as hedging instruments: | Interest rate cap                                
Debt Instrument                                
Derivative variable interest rate (as a percent)                         3.895%      
Senior Notes                                
Debt Instrument                                
Debt instrument face amount                               $ 800,000,000.0
Number of tranches (in tranches) | tranche                               2
Debt instrument stated interest rate (as a percent) 7.00%                              
Pre-tax loss redemption amount $ 500,000             $ 6,500,000                
In call premium           3,900,000                    
Amortization of deferred financing costs           2,600,000                    
Long-term debt $ 200,000,000                              
Long-term debt, gross           750,000,000       $ 750,000,000            
Senior Notes | Minimum                                
Debt Instrument                                
Debt instrument face amount                           $ 250,000,000    
Senior Notes | Maximum                                
Debt Instrument                                
Debt instrument face amount                           $ 200,000,000    
Letter of credit | Revolving credit facility                                
Debt Instrument                                
Letters of credit           (2,800,000)                    
Mortgage notes                                
Debt Instrument                                
Debt instrument term (in years)         30 years                      
Long-term debt, gross                     $ 20,700,000 kr 142.5        
Finance leases and other financing arrangements                                
Debt Instrument                                
Finance leases and other financing arrangements           59,445,000       61,071,000            
Senior Note Maturing December 2025 | Senior Notes                                
Debt Instrument                                
Debt instrument face amount                               $ 400,000,000.0
Senior Secured Notes Maturing May 2025 | Senior Notes                                
Debt Instrument                                
Debt instrument stated interest rate (as a percent)                           6.25% 6.25% 4.63%
Senior secured notes                             $ 250,000,000  
Debt instrument discount rate (as a percent)                             1.25%  
Senior Note Maturing December 2027 | Senior Notes                                
Debt Instrument                                
Debt instrument face amount                               $ 400,000,000.0
Debt instrument stated interest rate (as a percent)                               4.88%
Senior Note Maturing September 2032 | Senior Notes                                
Debt Instrument                                
Debt instrument face amount   $ 350,000,000                            
Debt instrument stated interest rate (as a percent) 4.63% 7.00%                            
Debt instrument discount rate (as a percent)   1.25%                            
Debt issuance costs   $ 5,500,000                            
Repayments of debt   $ 150,000,000                            
U.S. Facility | Mortgage notes                                
Debt Instrument                                
Debt instrument face amount       $ 550,000,000.0                        
U.S. Facility | Mortgage notes | Corporate credit rating                                
Debt Instrument                                
Derivative variable interest rate (as a percent)       0.00%                        
U.S. Facility | Minimum | Mortgage notes | Corporate credit rating                                
Debt Instrument                                
Debt instrument, variable rate (as a percent)     2.00%                          
U.S. Facility | Maximum | Mortgage notes | Corporate credit rating                                
Debt Instrument                                
Debt instrument, variable rate (as a percent)     2.25%                          
Term Loans                                
Debt Instrument                                
Unamortized debt issuance costs     $ 800,000 $ 1,000,000                        
Term Loans | Minimum | SOFR                                
Debt Instrument                                
Debt instrument, variable rate (as a percent)     1.75%                          
Term Loans | Maximum | SOFR                                
Debt Instrument                                
Debt instrument, variable rate (as a percent)     2.00%                          
Term Loans | Term Loan Facility                                
Debt Instrument                                
Long-term debt           380,500,000                    
Premium payable (as a percent)       1.00%                        
Repayment (as a percent)       0.25%                        
Loss on extinguishment and refinancing of debt (Note 10)     $ 1,400,000 $ 1,300,000                        
Long-term debt, gross           $ 380,888,000       $ 380,888,000            
ABL Facility | Revolving credit facility                                
Debt Instrument                                
Line fee (as a percent)           0.25%                    
ABL Facility | Revolving credit facility | Subsequent event                                
Debt Instrument                                
Maximum borrowing capacity                 $ 500,000,000              
ABL Facility | Letter of credit | Revolving credit facility                                
Debt Instrument                                
Long-term debt           $ 0                    
Borrowing availability           $ 366,900,000                    
v3.25.1
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 31, 2024
Income Tax Disclosure [Abstract]      
Effective tax rate (as a percent) (0.30%) 11.00%  
Income tax expense (benefit) $ 618 $ (3,431)  
Discrete adjustment expense (benefit) 14,400 2,600  
Adjustments and settlements, expense (benefit) 14,200    
Goodwill, Impairment Loss, Net of Tax 9,800    
Tax expense related to the divestiture 8,500    
Increase for tax positions taken during the prior period   1,100  
Increase in uncertain tax positions   2,000  
Foreign tax rate differential   $ 400  
Balance at period end - unrecognized tax benefit $ 45,300   $ 43,700
v3.25.1
Segment Information - Narrative (Details)
 3 Months Ended
Mar. 29, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 2
v3.25.1
Segment Information - Reportable Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Segment Reporting Information [Line Items]    
Net revenues $ 776,006 $ 959,126
Adjusted cost of sales 663,502 785,217
Adjusted selling, general and administrative 113,760 126,452
Other segment items (27,437) (28,244)
Adjusted EBITDA 26,181 75,701
Total Reportable Segment Adjusted EBITDA 26,181 75,701
Depreciation and amortization 27,295 41,429
Capital expenditures 41,954 34,712
Segment assets 2,418,915 2,933,766
Interest expense, net 14,918 15,692
Corporate and unallocated costs 4,312 6,993
Net legal and professional expenses and settlements 11,882 17,190
Goodwill impairment 137,721 0
Restructuring and asset-related charges 14,546 18,059
M&A related costs (613) 1,125
Net gain on sale of business, property and equipment (653) (2,865)
Loss on extinguishment and refinancing of debt (Note 10) 237 1,449
Share-based compensation expense 3,228 5,059
Non-cash foreign exchange transaction/translation loss (gain)   (1,546)
Loss, before tax (189,520) (31,161)
Operating segments    
Segment Reporting Information [Line Items]    
Net revenues 776,006 959,126
Goodwill impairment 137,721  
Operating segments | North America    
Segment Reporting Information [Line Items]    
Net revenues 530,561 679,994
Adjusted cost of sales 465,648 562,164
Adjusted selling, general and administrative 69,499 77,706
Other segment items (20,110) (21,074)
Adjusted EBITDA 15,524 61,198
Depreciation and amortization 17,325 17,991
Capital expenditures 27,736 21,324
Segment assets 1,349,336 1,683,330
Goodwill impairment 137,721  
Restructuring and asset-related charges 10,663 13,898
Operating segments | Europe    
Segment Reporting Information [Line Items]    
Net revenues 245,445 279,132
Adjusted cost of sales 197,854 223,053
Adjusted selling, general and administrative 44,261 48,746
Other segment items (7,327) (7,170)
Adjusted EBITDA 10,657 14,503
Depreciation and amortization 7,565 7,493
Capital expenditures 10,290 10,914
Segment assets 774,988 936,605
Goodwill impairment 0  
Restructuring and asset-related charges 3,147 3,956
Intersegment Eliminations    
Segment Reporting Information [Line Items]    
Net revenues 522 674
Intersegment Eliminations | North America    
Segment Reporting Information [Line Items]    
Net revenues 33 8
Intersegment Eliminations | Europe    
Segment Reporting Information [Line Items]    
Net revenues 489 666
Corporate and reconciling items    
Segment Reporting Information [Line Items]    
Net revenues 776,528 959,800
Corporate and reconciling items | North America    
Segment Reporting Information [Line Items]    
Net revenues 530,594 680,002
Corporate and reconciling items | Europe    
Segment Reporting Information [Line Items]    
Net revenues 245,934 279,798
Corporate and Unallocated Costs    
Segment Reporting Information [Line Items]    
Depreciation and amortization 2,405 15,945
Capital expenditures 3,928 2,474
Segment assets 294,591 313,831
Restructuring and asset-related charges 736 205
Other special items $ 2,828 $ 4,277
v3.25.1
Capital Stock (Details) - USD ($)
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 31, 2024
Jul. 28, 2022
Jul. 27, 2022
Equity [Abstract]          
Shares held in employee trust (in shares) 193,941   193,941    
Shares held in employee trust $ 12,400,000   $ 12,400,000    
Share authorized for repurchase 175,700,000     $ 200,000,000.0 $ 400,000,000.0
Common stock repurchased $ 0 $ 0      
v3.25.1
Loss Per Share - Basic and Diluted Income Per Share Calculations (Details) - shares
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Earnings Per Share [Abstract]    
Weighted average outstanding shares of Common Stock basic (in shares) 84,917,294 85,520,145
Restricted stock units, performance share units and options to purchase Common Stock (in shares) 0 0
Weighted average outstanding shares of Common Stock diluted (in shares) 84,917,294 85,520,145
v3.25.1
Loss Per Share - Potentially Dilutive Securities (Details) - shares
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Common Stock options    
Incremental Weighted Average Shares Attributable to Dilutive Effect    
Antidilutive securities excluded from computation of diluted earnings per share (in shares) 1,558,883 1,230,888
Restricted stock units    
Incremental Weighted Average Shares Attributable to Dilutive Effect    
Antidilutive securities excluded from computation of diluted earnings per share (in shares) 1,205,152 1,304,172
Performance share units    
Incremental Weighted Average Shares Attributable to Dilutive Effect    
Antidilutive securities excluded from computation of diluted earnings per share (in shares) 64,781 355,467
v3.25.1
Stock Compensation - Activity (Details) - $ / shares
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Shares    
Options granted (in shares) 536,432 365,412
Options canceled (in shares) 41,989 9,140
Options exercised (in shares) 0 143,180
Weighted Average Exercise Price Per Share    
Options granted (usd per share) $ 9.05 $ 18.52
Options canceled (usd per share) 22.28 27.37
Options exercised (usd per share) $ 0 $ 14.09
RSUs    
Weighted Average Grant-Date Fair Value Per Share    
Equity instruments granted (in shares) 1,386,301 835,911
Equity instruments granted, weighted average exercise price (usd per share) $ 9.02 $ 18.52
PSU's    
Weighted Average Grant-Date Fair Value Per Share    
Equity instruments granted (in shares) 620,673 417,347
Equity instruments granted, weighted average exercise price (usd per share) $ 9.47 $ 22.60
v3.25.1
Stock Compensation - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award    
Stock-based compensation $ 3.2 $ 5.1
Performance share units    
Share-based Compensation Arrangement by Share-based Payment Award    
Stock compensation not yet recognized $ 25.8  
Recognition period for stock compensation not yet recognized (in years) 1 year 10 months 24 days  
v3.25.1
Restructuring and Asset-Related Charges - Impairment by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Restructuring Cost and Reserve    
Restructuring severance and employee-related charges $ 12,605 $ 12,492
Other restructuring associated costs, net 1,775 2,648
Asset-related charges 166 2,919
Other restructuring associated costs and asset-related charges, net 1,941 5,567
Total restructuring and asset-related charges, net 14,546 18,059
Operating segments | North America    
Restructuring Cost and Reserve    
Restructuring severance and employee-related charges 10,019 8,889
Other restructuring associated costs, net 644 2,090
Asset-related charges 0 2,919
Other restructuring associated costs and asset-related charges, net 644 5,009
Total restructuring and asset-related charges, net 10,663 13,898
Restructuring and asset-related charges, net 2,800  
Operating segments | Europe    
Restructuring Cost and Reserve    
Restructuring severance and employee-related charges 1,850 3,398
Other restructuring associated costs, net 1,131 558
Asset-related charges 166 0
Other restructuring associated costs and asset-related charges, net 1,297 558
Total restructuring and asset-related charges, net 3,147 3,956
Corporate and Unallocated Costs    
Restructuring Cost and Reserve    
Restructuring severance and employee-related charges 736 205
Other restructuring associated costs, net 0 0
Asset-related charges 0 0
Other restructuring associated costs and asset-related charges, net 0 0
Total restructuring and asset-related charges, net 736 $ 205
Restructuring and asset-related charges, net $ 700  
v3.25.1
Restructuring and Asset-Related Charges - Restructuring Accrual (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 29, 2025
Dec. 31, 2024
Restructuring Reserve    
Restructuring reserve, beginning balance $ 7,605 $ 3,375
Current period charges, net 14,380 45,377
Payments (10,585) (40,879)
Currency translation 173 (268)
Restructuring reserve, ending balance $ 11,573 $ 7,605
v3.25.1
Restructuring and Asset-Related Charges - Narrative (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 29, 2025
USD ($)
Sep. 28, 2024
manufacturingFacility
Jun. 29, 2024
manufacturingFacility
Mar. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
manufacturingFacility
Dec. 31, 2023
USD ($)
manufacturingFacility
Restructuring Cost and Reserve            
Restructuring reserve $ 11,573       $ 7,605 $ 3,375
Current portion of restructuring accrual (Note 16) 11,573       $ 7,605  
European Operation Transformation            
Restructuring Cost and Reserve            
Restructuring costs 1,989     $ 3,955    
Restructuring reserve 3,000          
Current portion of restructuring accrual (Note 16) 5,100          
Footprint Rationalization Restructuring Plan | Tijuana, Mexico and Vista, California            
Restructuring Cost and Reserve            
Number of manufacturing facilities to close | manufacturingFacility           2
Restructuring reserve 500          
Current portion of restructuring accrual (Note 16) 400          
Footprint And Drive Operations            
Restructuring Cost and Reserve            
Restructuring costs 396          
Footprint Rationalization Efforts            
Restructuring Cost and Reserve            
Restructuring costs 19     $ 4,216    
Footprint Rationalization Efforts | Europe            
Restructuring Cost and Reserve            
Restructuring reserve 7,500          
Current portion of restructuring accrual (Note 16) 700          
Europe | European Operation Transformation            
Restructuring Cost and Reserve            
Number of manufacturing facilities to close | manufacturingFacility         2 2
Facility Closing            
Restructuring Cost and Reserve            
Restructuring reserve 300          
Current portion of restructuring accrual (Note 16) 4,100          
Facility Closing | Footprint And Drive Operations | Grinnell, Iowa and Coppell, Texas            
Restructuring Cost and Reserve            
Restructuring reserve 4,300          
Restructuring and related cost, expected cost remaining 5,100          
Facility Closing | Footprint Rationalization Efforts | Europe            
Restructuring Cost and Reserve            
Number of manufacturing facilities to close | manufacturingFacility   2        
Facility Closing | North America            
Restructuring Cost and Reserve            
Number of manufacturing facilities to close | manufacturingFacility     2      
Severance And Termination Charges | Europe | European Operation Transformation            
Restructuring Cost and Reserve            
Restructuring costs 2,900          
Severance And Termination Charges | Europe | European Operation Transformation | Maximum            
Restructuring Cost and Reserve            
Restructuring costs $ 27,000          
v3.25.1
Restructuring and Asset-Related Charges - Summary of Costs and Cash Outlays (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Dec. 31, 2024
Restructuring Cost and Reserve      
Total cash outlays $ 10,585   $ 40,879
Sales      
Restructuring Cost and Reserve      
Total cash outlays 5,500    
Manufacturing Facility Closure Plan      
Restructuring Cost and Reserve      
Restructuring expected cost 36,100    
Cost incurred to date 33,636    
Restructuring Costs 348 $ 8,820  
Total cash outlays 26,600    
Cumulative costs 22,527    
Total cash outlays 675 0  
Manufacturing Facility Closure Plan | Total cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 20,100    
Cost incurred to date 17,669    
Restructuring Costs 348 8,820  
Manufacturing Facility Closure Plan | Restructuring severance and employee-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 7,000    
Cost incurred to date 6,986    
Restructuring Costs 161 8,820  
Manufacturing Facility Closure Plan | Other restructuring associated costs      
Restructuring Cost and Reserve      
Restructuring expected cost 7,000    
Cost incurred to date 4,564    
Restructuring Costs 53 0  
Manufacturing Facility Closure Plan | Product-related cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 6,100    
Cost incurred to date 6,119    
Restructuring Costs 134 0  
Manufacturing Facility Closure Plan | Total non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 16,000    
Cost incurred to date 15,967    
Restructuring Costs 0 0  
Manufacturing Facility Closure Plan | Asset-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 12,300    
Cost incurred to date 12,261    
Restructuring Costs 0 0  
Manufacturing Facility Closure Plan | Inventory and other product-related non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 3,700    
Cost incurred to date 3,706    
Restructuring Costs 0 0  
European Operation Transformation      
Restructuring Cost and Reserve      
Restructuring expected cost 27,000    
Cost incurred to date 25,076    
Restructuring Costs 1,989 3,955  
Total cash outlays 26,400    
Cumulative costs 21,300    
Total cash outlays 3,100 2,816  
European Operation Transformation | Total cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 26,400    
Cost incurred to date 24,503    
Restructuring Costs 1,989 3,955  
European Operation Transformation | Restructuring severance and employee-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 21,100    
Cost incurred to date 19,321    
Restructuring Costs 1,956 3,469  
European Operation Transformation | Other restructuring associated costs      
Restructuring Cost and Reserve      
Restructuring expected cost 5,300    
Cost incurred to date 5,182    
Restructuring Costs 33 486  
European Operation Transformation | Asset-related non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 600    
Cost incurred to date 573    
Restructuring Costs 0 0  
European Manufacturing Facility Closure Plan      
Restructuring Cost and Reserve      
Restructuring expected cost 12,300    
Cost incurred to date 4,803    
Restructuring Costs 1,159    
Total cash outlays 10,600    
Cumulative costs 3,100    
Total cash outlays 1,500    
European Manufacturing Facility Closure Plan | Total cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 10,600    
Cost incurred to date 3,800    
Restructuring Costs 993    
European Manufacturing Facility Closure Plan | Restructuring severance and employee-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 3,200    
Cost incurred to date 2,037    
Restructuring Costs (105)    
European Manufacturing Facility Closure Plan | Other restructuring associated costs      
Restructuring Cost and Reserve      
Restructuring expected cost 7,400    
Cost incurred to date 1,763    
Restructuring Costs 1,098    
European Manufacturing Facility Closure Plan | Asset-related non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 1,700    
Cost incurred to date 1,003    
Restructuring Costs 166    
Footprint Rationalization Efforts      
Restructuring Cost and Reserve      
Restructuring expected cost 18,600    
Cost incurred to date 18,377    
Restructuring Costs 19 4,216  
Total cash outlays 10,400    
Cumulative costs 9,943    
Total cash outlays 12 2,089  
Footprint Rationalization Efforts | Total cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 10,500    
Cost incurred to date 10,283    
Restructuring Costs 19 1,297  
Footprint Rationalization Efforts | Restructuring severance and employee-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 7,800    
Cost incurred to date 7,638    
Restructuring Costs 7 (325)  
Footprint Rationalization Efforts | Other restructuring associated costs      
Restructuring Cost and Reserve      
Restructuring expected cost 2,700    
Cost incurred to date 2,645    
Restructuring Costs 12 1,622  
Footprint Rationalization Efforts | Total non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 8,100    
Cost incurred to date 8,094    
Restructuring Costs 0 2,919  
Footprint Rationalization Efforts | Asset-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 6,600    
Cost incurred to date 6,628    
Restructuring Costs 0 2,919  
Footprint Rationalization Efforts | Inventory and other product-related non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 1,500    
Cost incurred to date 1,466    
Restructuring Costs 0 $ 0  
Footprint And Drive Operations      
Restructuring Cost and Reserve      
Restructuring expected cost 3,800    
Cost incurred to date 3,743    
Restructuring Costs 396    
Total cash outlays 1,700    
Cumulative costs 1,631    
Total cash outlays 519    
Footprint And Drive Operations | Total cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 1,700    
Cost incurred to date 1,631    
Restructuring Costs 396    
Footprint And Drive Operations | Restructuring severance and employee-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 1,100    
Cost incurred to date 1,094    
Restructuring Costs 108    
Footprint And Drive Operations | Other restructuring associated costs      
Restructuring Cost and Reserve      
Restructuring expected cost 600    
Cost incurred to date 537    
Restructuring Costs 288    
Footprint And Drive Operations | Inventory and other product-related non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 2,100    
Cost incurred to date 2,112    
Restructuring Costs 0    
North America Drive Operational Efforts      
Restructuring Cost and Reserve      
Restructuring expected cost 10,500    
Cost incurred to date 9,670    
Restructuring Costs 8,312    
Total cash outlays 9,200    
Cumulative costs 4,133    
Total cash outlays 2,885    
North America Drive Operational Efforts | Total cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 9,200    
Cost incurred to date 8,440    
Restructuring Costs 7,191    
North America Drive Operational Efforts | Restructuring severance and employee-related charges      
Restructuring Cost and Reserve      
Restructuring expected cost 8,100    
Cost incurred to date 8,101    
Restructuring Costs 6,923    
North America Drive Operational Efforts | Other restructuring associated costs      
Restructuring Cost and Reserve      
Restructuring expected cost 1,100    
Cost incurred to date 339    
Restructuring Costs 268    
North America Drive Operational Efforts | Inventory and other product-related non-cash charges      
Restructuring Cost and Reserve      
Restructuring expected cost 1,300    
Cost incurred to date 1,230    
Restructuring Costs $ 1,121    
v3.25.1
Held for Sale (Details) - Towanda
$ in Thousands
Dec. 31, 2024
USD ($)
Assets:  
Allowance to reduce assets to estimated fair value, less costs to sell $ (750)
Held-for-sale  
Assets:  
Accounts receivable, net 9,072
Inventories 16,319
Other current assets 84
Property and equipment, net 64,661
Intangible assets, net 1,471
Goodwill 33,644
Operating lease assets, net 2,411
Assets held for sale 126,912
Liabilities:  
Accounts payable 7,431
Accrued payroll and benefits 1,013
Accrued expenses and other current liabilities 5,959
Operating lease liability 905
Liabilities held for sale $ 15,308
v3.25.1
Other Income, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Other Income and Expenses [Abstract]    
Cash received on real estate investments $ (7,567) $ 0
Income from refund of deposits for China antidumping and countervailing duties (2,859) (2,947)
Pension expense 867 515
Gain on commodity derivatives (361) 0
Foreign currency gains, net (209) (1,467)
Governmental assistance (3) (657)
Cash received on impaired notes 0 (3,537)
JW Australia Transition Services Agreements cost recovery 0 (4,140)
Insurance reimbursement 0 (1,655)
Other items, net (454) (375)
Total other income, net $ (10,586) $ (14,263)
v3.25.1
Derivative Financial Instruments - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Feb. 29, 2024
Derivative [Line Items]      
Realized gain (loss) on hedges $ (200,000) $ 400,000  
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax  
Foreign exchange, forecasted transactions | Derivatives not designated as hedging instruments:      
Derivative [Line Items]      
Notional $ 182,200,000    
Foreign exchange, forecasted transactions | Derivatives designated as hedging instruments: | Cash flow hedge      
Derivative [Line Items]      
AOCI, cash flow hedge cumulative gain (loss), after tax (1,600,000)    
Foreign currency forward contracts | Derivatives not designated as hedging instruments:      
Derivative [Line Items]      
Realized gain (loss) on hedges (800,000) $ 1,700,000  
Foreign currency loans and interest | Derivatives designated as hedging instruments:      
Derivative [Line Items]      
Notional 125,500,000    
Foreign currency loans and interest | Derivatives designated as hedging instruments: | Cash flow hedge      
Derivative [Line Items]      
AOCI, cash flow hedge cumulative gain (loss), after tax (1,600,000)    
Commodity exchange contracts, forecasted | Derivatives not designated as hedging instruments:      
Derivative [Line Items]      
Notional 3,900,000    
Commodity contract | Derivatives not designated as hedging instruments:      
Derivative [Line Items]      
Realized gain (loss) on hedges 400,000    
Commodity contract | Derivatives designated as hedging instruments: | Cash flow hedge      
Derivative [Line Items]      
AOCI, cash flow hedge cumulative gain (loss), after tax 200,000    
Commodity exchange contracts, foreign currency loans and interest | Derivatives designated as hedging instruments:      
Derivative [Line Items]      
Notional 6,000,000    
Commodity exchange contracts, foreign currency loans and interest | Derivatives designated as hedging instruments: | Cash flow hedge      
Derivative [Line Items]      
AOCI, cash flow hedge cumulative gain (loss), after tax 200,000    
Interest rate cap | Derivatives designated as hedging instruments: | Cash flow hedge      
Derivative [Line Items]      
AOCI, cash flow hedge cumulative gain (loss), after tax 100,000    
Derivative fixed interest rate (as a percent)     4.50%
Notional amount     $ 100,000,000
Interest rate cap | Derivatives designated as hedging instruments: | Cash flow hedge | Minimum      
Derivative [Line Items]      
Derivative variable interest rate (as a percent)     3.982%
Interest rate cap | Derivatives designated as hedging instruments: | Cash flow hedge | Maximum      
Derivative [Line Items]      
Derivative variable interest rate (as a percent)     3.895%
Interest rate swap | Derivatives designated as hedging instruments: | Cash flow hedge      
Derivative [Line Items]      
Gains reclassified $ 0 $ (100,000)  
v3.25.1
Derivative Financial Instruments - Fair Value (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Other current assets | Foreign currency forward contracts | Derivatives designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative assets $ 4,670 $ 469
Other current assets | Foreign currency forward contracts | Derivatives not designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative assets 858 1,302
Other current assets | Commodity contracts | Derivatives designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative assets 201 0
Other current assets | Commodity contracts | Derivatives not designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative assets 289 0
Accrued expenses and other current liabilities | Foreign currency forward contracts | Derivatives designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative liabilities 6,189 135
Accrued expenses and other current liabilities | Foreign currency forward contracts | Derivatives not designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative liabilities 2,764 2,411
Accrued expenses and other current liabilities | Commodity contracts | Derivatives designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative liabilities 0 185
Accrued expenses and other current liabilities | Commodity contracts | Derivatives not designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative liabilities 0 73
Accrued expenses and other current liabilities | Interest rate contracts | Derivatives designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative liabilities 185 101
Deferred credits and other liabilities | Interest rate contracts | Derivatives designated as hedging instruments:    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral    
Derivative liabilities $ 0 $ 36
v3.25.1
Fair Value of Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 29, 2025
Dec. 31, 2024
Assets:    
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Other current assets Other current assets
Liabilities:    
Derivative liabilities, recorded in accrued expenses and other current liabilities $ 9,138 $ 2,905
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities (Note 8) Accrued expenses and other current liabilities (Note 8)
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]   Deferred credits and other liabilities
Carrying Amount | Recurring    
Assets:    
Cash equivalents $ 62,171 $ 53,935
Derivative assets, recorded in other current assets 6,018 1,771
Deferred compensation plan assets, recorded in other assets 5,043 5,074
Liabilities:    
Debt, recorded in long-term debt and current maturities of long-term debt 1,190,333 1,191,959
Derivative liabilities, recorded in accrued expenses and other current liabilities 9,138 2,905
Derivative liability   36
Total Fair Value | Recurring    
Assets:    
Cash equivalents 62,171 53,935
Derivative assets, recorded in other current assets 6,018 1,771
Deferred compensation plan assets, recorded in other assets 5,043 5,074
Liabilities:    
Debt, recorded in long-term debt and current maturities of long-term debt 1,124,976 1,145,817
Derivative liabilities, recorded in accrued expenses and other current liabilities 9,138 2,905
Derivative liability   36
Total Fair Value | Recurring | Level 1    
Assets:    
Cash equivalents 62,171 53,935
Derivative assets, recorded in other current assets 0 0
Deferred compensation plan assets, recorded in other assets 0 0
Liabilities:    
Debt, recorded in long-term debt and current maturities of long-term debt 0 0
Derivative liabilities, recorded in accrued expenses and other current liabilities 0 0
Derivative liability   0
Total Fair Value | Recurring | Level 2    
Assets:    
Cash equivalents 0 0
Derivative assets, recorded in other current assets 6,018 1,771
Deferred compensation plan assets, recorded in other assets 5,043 5,074
Liabilities:    
Debt, recorded in long-term debt and current maturities of long-term debt 1,124,976 1,145,817
Derivative liabilities, recorded in accrued expenses and other current liabilities 9,138 2,905
Derivative liability   36
Total Fair Value | Recurring | Level 3    
Assets:    
Cash equivalents 0 0
Derivative assets, recorded in other current assets 0 0
Deferred compensation plan assets, recorded in other assets 0 0
Liabilities:    
Debt, recorded in long-term debt and current maturities of long-term debt 0 0
Derivative liabilities, recorded in accrued expenses and other current liabilities $ 0 0
Derivative liability   $ 0
v3.25.1
Commitments and Contingencies (Details) - USD ($)
 1 Months Ended 3 Months Ended 12 Months Ended
Oct. 25, 2024
Nov. 03, 2021
Feb. 18, 2021
Nov. 19, 2019
Apr. 12, 2019
Mar. 13, 2019
May 11, 2018
Jan. 31, 2023
Feb. 28, 2018
Mar. 29, 2025
Dec. 31, 2024
Dec. 31, 2021
Loss Contingencies                        
Accrued self-insurance liability                   $ 79,500,000 $ 83,300,000  
Financing bonds and letters of credit                   $ 62,700,000 $ 70,300,000  
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration]                   Accrued expenses and other current liabilities (Note 8) Accrued expenses and other current liabilities (Note 8)  
Environmental loss contingencies, current                   $ 0 $ 100,000  
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration]                   Deferred credits and other liabilities Deferred credits and other liabilities  
Environmental loss contingencies, non-current                   $ 11,800,000 $ 11,800,000  
Preferred remedial alternatives totaling                       $ 23,400,000
Remediation cost outcome                     11,800,000  
PaDEP                        
Loss Contingencies                        
Collateralized bond                   1,400,000 1,400,000  
Minimum                        
Loss Contingencies                        
Environmental remedial feasibility alternative                       11,800,000
Remediation cost outcome                     17,400,000  
Minimum | Domestic Product Liability                        
Loss Contingencies                        
Concentration risk, auto, employee and general liability                   5,000,000    
Minimum | Auto, General Liability, Personal Injury and Workers Compensation                        
Loss Contingencies                        
Concentration risk, auto, employee and general liability                   3,000,000    
Maximum                        
Loss Contingencies                        
Environmental remedial feasibility alternative                       $ 33,400,000
Remediation cost outcome                     $ 33,600,000  
Maximum | Domestic Product Liability                        
Loss Contingencies                        
Concentration risk, auto, employee and general liability                   200,000,000    
Maximum | Auto, General Liability, Personal Injury and Workers Compensation                        
Loss Contingencies                        
Concentration risk, auto, employee and general liability                   $ 200,000,000    
Steve and Sons                        
Loss Contingencies                        
Damages awarded to plaintiff     $ 36,500,000 $ 7,100,000   $ 36,500,000            
Settlement proceeds awarded $ 115,000,000           $ 1,200,000          
Damages sought     $ 139,400,000                  
Steve and Sons | Attorney Fees                        
Loss Contingencies                        
Damages sought         $ 28,400,000              
Steve and Sons | Legal Cost                        
Loss Contingencies                        
Damages sought         $ 1,700,000              
Direct Purchaser Action                        
Loss Contingencies                        
Damages sought               $ 10,500,000        
Past Damages | Steve and Sons                        
Loss Contingencies                        
Damages awarded to plaintiff           9,900,000     $ 12,200,000      
Future Damages | Steve and Sons                        
Loss Contingencies                        
Damages awarded to plaintiff           $ 139,400,000     $ 46,500,000      
Loss contingency accrual, payments   $ 66,400,000                    
v3.25.1
Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2025
Mar. 30, 2024
Cash Operating Activities:    
Operating leases $ 12,403 $ 13,144
Interest payments on financing lease obligations 194 110
Cash paid for amounts included in the measurement of lease liabilities 12,597 13,254
Cash Investing Activities:    
Purchases of securities for deferred compensation plan (273) (2,112)
Purchase of securities for deferred compensation plan (273) (2,112)
Cash received on notes receivable 7 0
Change in notes receivable 7 0
Non-cash Investing Activities:    
Property, equipment and intangibles purchased in accounts payable 7,417 9,956
Property, equipment and intangibles purchased with debt 2,653 1,617
Customer accounts receivable converted to notes receivable 3 0
Cash Financing Activities:    
Borrowings on long-term debt 0 1,279
Payments of long-term debt (5,254) (8,791)
Payments of debt issuance and extinguishment costs, including underwriting fees (810) (198)
Change in long-term debt and payments of debt extinguishment costs (6,064) (7,710)
Cash paid for amounts included in the measurement of finance lease liabilities 284 591
Non-cash Financing Activities:    
Debt issuance costs in accounts payable 245 0
Shares surrendered for tax obligations for employee share-based transactions in accrued liabilities 623 0
Accounts payable converted to installment notes 0 5
Other Supplemental Cash Flow Information:    
Cash taxes paid, net of refunds 8,805 9,760
Cash interest paid $ 17,209 $ 11,933