Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Stockholders??? Equity

v3.23.3
Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($)
$ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
 [1]
Preferred Stock
Class A Preferred
Common Stock
Treasury Stock
Additional paid-in capital
Accumulated Other Comprehensive Loss
Retained Earnings (Accumulated Deficit)
Retained Earnings (Accumulated Deficit)
Cumulative Effect, Period of Adoption, Adjustment
 [1]
Beginning balance (in shares) at Jan. 01, 2022     0            
Common stock, beginning balance (in shares) at Jan. 01, 2022       146,561,717          
Beginning balance at Jan. 01, 2022 $ 268.3 $ (0.9) $ 0.0 $ 0.0   $ 277.8 $ (0.9) $ (8.6) $ (0.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Share-based compensation 0.6         0.6      
Foreign currency translation adjustment (0.5)           (0.5)    
Net income 19.7             19.7  
Common stock, ending balance (in shares) at Apr. 02, 2022       146,561,717          
Ending balance (in shares) at Apr. 02, 2022     0            
Ending balance at Apr. 02, 2022 287.2   $ 0.0 $ 0.0   278.4 (1.4) 10.2  
Beginning balance (in shares) at Jan. 01, 2022     0            
Common stock, beginning balance (in shares) at Jan. 01, 2022       146,561,717          
Beginning balance at Jan. 01, 2022 268.3 $ (0.9) $ 0.0 $ 0.0   277.8 (0.9) (8.6) $ (0.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Shares withheld for taxes upon vesting of restricted units 0.0                
Net income 75.0                
Common stock, ending balance (in shares) at Oct. 01, 2022       146,647,275          
Ending balance (in shares) at Oct. 01, 2022     0            
Ending balance at Oct. 01, 2022 337.5   $ 0.0 $ 0.0   279.9 (7.8) 65.4  
Beginning balance (in shares) at Apr. 02, 2022     0            
Common stock, beginning balance (in shares) at Apr. 02, 2022       146,561,717          
Beginning balance at Apr. 02, 2022 287.2   $ 0.0 $ 0.0   278.4 (1.4) 10.2  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of restricted units (in shares)       77,660          
Share-based compensation 0.9         0.9      
Foreign currency translation adjustment (3.4)           (3.4)    
Net income 22.8             22.8  
Common stock, ending balance (in shares) at Jul. 02, 2022       146,639,377          
Ending balance (in shares) at Jul. 02, 2022     0            
Ending balance at Jul. 02, 2022 307.5   $ 0.0 $ 0.0   279.3 (4.8) 33.0  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of restricted units (in shares)       7,898          
Share-based compensation 0.6         0.6      
Foreign currency translation adjustment (3.0)           (3.0)    
Net income 32.4             32.4  
Common stock, ending balance (in shares) at Oct. 01, 2022       146,647,275          
Ending balance (in shares) at Oct. 01, 2022     0            
Ending balance at Oct. 01, 2022 $ 337.5   $ 0.0 $ 0.0   279.9 (7.8) 65.4  
Beginning balance (in shares) at Dec. 31, 2022     0            
Common stock, beginning balance (in shares) at Dec. 31, 2022 146,703,894     146,703,894          
Beginning balance (in shares) at Dec. 31, 2022 0       0        
Beginning balance at Dec. 31, 2022 $ 375.3   $ 0.0 $ 0.0 $ 0.0 281.9 (4.8) 98.2  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of restricted units (in shares)       58,790          
Shares withheld for taxes upon vesting of restricted units (in shares)       18,520 18,520        
Shares withheld for taxes upon vesting of restricted units (0.2)       $ 0.2        
Share-based compensation 1.8         1.8      
Foreign currency translation adjustment 0.7           0.7    
Net income 26.0             26.0  
Common stock, ending balance (in shares) at Apr. 01, 2023       146,744,164          
Ending balance (in shares) at Apr. 01, 2023     0            
Ending balance (in shares) at Apr. 01, 2023         18,520        
Ending balance at Apr. 01, 2023 $ 403.6   $ 0.0 $ 0.0 $ (0.2) 283.7 (4.1) 124.2  
Beginning balance (in shares) at Dec. 31, 2022     0            
Common stock, beginning balance (in shares) at Dec. 31, 2022 146,703,894     146,703,894          
Beginning balance (in shares) at Dec. 31, 2022 0       0        
Beginning balance at Dec. 31, 2022 $ 375.3   $ 0.0 $ 0.0 $ 0.0 281.9 (4.8) 98.2  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Shares withheld for taxes upon vesting of restricted units (0.2)                
Net income $ 100.0                
Common stock, ending balance (in shares) at Sep. 30, 2023 146,828,032     146,828,032          
Ending balance (in shares) at Sep. 30, 2023     0            
Ending balance (in shares) at Sep. 30, 2023 19,833       19,833        
Ending balance at Sep. 30, 2023 $ 480.1   $ 0.0 $ 0.0 $ (0.2) 287.3 (5.2) 198.2  
Beginning balance (in shares) at Apr. 01, 2023     0            
Common stock, beginning balance (in shares) at Apr. 01, 2023       146,744,164          
Beginning balance (in shares) at Apr. 01, 2023         18,520        
Beginning balance at Apr. 01, 2023 403.6   $ 0.0 $ 0.0 $ (0.2) 283.7 (4.1) 124.2  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of restricted units (in shares)       81,448          
Shares withheld for taxes upon vesting of restricted units (in shares)       118 118        
Share-based compensation 1.8         1.8      
Foreign currency translation adjustment 0.6           0.6    
Net income 37.0             37.0  
Common stock, ending balance (in shares) at Jul. 01, 2023       146,825,494          
Ending balance (in shares) at Jul. 01, 2023     0            
Ending balance (in shares) at Jul. 01, 2023         18,638        
Ending balance at Jul. 01, 2023 443.0   $ 0.0 $ 0.0 $ (0.2) 285.5 (3.5) 161.2  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of restricted units (in shares)       3,733          
Shares withheld for taxes upon vesting of restricted units (in shares)       1,195 1,195        
Share-based compensation 1.8         1.8      
Foreign currency translation adjustment (1.7)           (1.7)    
Net income $ 37.0             37.0  
Common stock, ending balance (in shares) at Sep. 30, 2023 146,828,032     146,828,032          
Ending balance (in shares) at Sep. 30, 2023     0            
Ending balance (in shares) at Sep. 30, 2023 19,833       19,833        
Ending balance at Sep. 30, 2023 $ 480.1   $ 0.0 $ 0.0 $ (0.2) $ 287.3 $ (5.2) $ 198.2  
[1] (a)    Effective January 2, 2022, the Company adopted the provisions of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326) and ASU 2016-02, Leases (Topic 842). We have elected to adopt each of the two standards using the modified retrospective approach through a cumulative-effect adjustment to the opening balance of accumulated deficit for both. See Note 2 in the Annual Report on Form 10-K, for the year ended December 31, 2022, for further details of the impact of each standard.