Hillman Solutions (HLMN) 10-Q7 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 30, 2024	May 06, 2024	Dec. 30, 2023	Apr. 01, 2023	Dec. 31, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-39609
Entity Registrant Name	Hillman Solutions Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-2096734
Entity Address, Address Line One	1280 Kemper Meadow Drive
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45240
City Area Code	513
Local Phone Number	851-4900
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
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	HLMN
Security Exchange Name	NASDAQ
Amendment Flag	false
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001822492
Current Fiscal Year End Date	--12-30
Common stock, shares issued	195,942,200		194,913,124
Common stock, shares outstanding	195,942,200		194,913,124	194,548,000	194,548,000
Document Period End Date	Mar. 30, 2024
Document Fiscal Year Focus	2024
Entity Common Stock, Shares Outstanding		196,040,729

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 30,672	$ 38,553
Accounts receivable, net of allowances of $2,433 ($2,770 - 2023)	127,332	103,482
Inventories, net	404,060	382,710
Other current assets	25,130	23,235
Total current assets	587,194	547,980
Property and equipment, net of accumulated depreciation of $345,363 ($333,875 - 2023)	205,025	200,553
Goodwill	828,279	825,042
Other intangibles, net of accumulated amortization of $485,751 ($470,791 - 2023)	643,359	655,293
Operating lease right of use assets	87,334	87,479
Other assets	15,155	14,754
Total assets	2,366,346	2,331,101
Current liabilities:
Accounts payable	156,827	140,290
Current portion of debt and finance lease liabilities	10,061	9,952
Current portion of operating lease liabilities	15,288	14,407
Accrued expenses:
Salaries and wages	16,083	22,548
Pricing allowances	8,002	8,145
Income and other taxes	5,981	6,469
Interest	864	343
Other accrued liabilities	23,059	20,966
Total current liabilities	236,165	223,120
Long-term debt	751,315	731,708
Deferred tax liabilities	131,636	131,552
Operating lease liabilities	78,852	10,198
Other non-current liabilities	7,086	79,994
Total liabilities	1,205,054	1,176,572
Commitments and contingencies (Note 6)
Stockholders' equity:
Common stock, $0.0001 par, 500,000,000 shares authorized, 195,942,200 issued and outstanding at March 30, 2024 and 194,913,124 issued and outstanding at December 30, 2023	20	20
Additional paid-in capital	1,427,120	1,418,535
Accumulated deficit	(237,698)	(236,206)
Accumulated other comprehensive loss	(28,150)	(27,820)
Total stockholders' equity	1,161,292	1,154,529
Total liabilities and stockholders' equity	$ 2,366,346	$ 2,331,101
Common stock, shares outstanding	195,942,200	194,913,124

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	195,942,200	194,913,124
Common stock, shares outstanding	195,942,200	194,913,124
Accounts receivable, allowances	$ 2,433	$ 2,770
Property and equipment, accumulated depreciation	345,363	333,875
Less: Accumulated amortization	$ 485,751	$ 470,791

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Income Statement [Abstract]
Net sales	$ 350,305	$ 349,707
Cost of sales (exclusive of depreciation and amortization shown separately below)	183,434	204,509
Selling, warehouse, general and administrative expenses	118,565	111,065
Depreciation	16,338	16,705
Amortization	15,254	15,572
Other expense, net	410	767
Income from operations	16,304	1,089
Interest expense, net	15,271	18,077
Loss on debt restructuring	3,008	0
Loss before income taxes	(1,975)	(16,988)
Income tax benefit	(483)	(7,856)
Net loss	$ (1,492)	$ (9,132)
Basic income (loss) per share (in usd per share)	$ (0.01)	$ (0.05)
Weighted average basic shares outstanding	195,365	194,548
Diluted income (loss) per share (in usd per share)	$ (0.01)	$ (0.05)
Weighted average diluted shares outstanding	195,365	194,548
Net loss from above	$ (1,492)	$ (9,132)
Other comprehensive loss:
Foreign currency translation adjustments	1,487	959
Hedging activity	(1,817)	(5,142)
Total other comprehensive loss	(330)	(4,183)
Comprehensive loss	$ (1,822)	$ (13,315)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Cash flows from operating activities:
Net loss	$ (1,492)	$ (9,132)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	31,592	32,277
Deferred income taxes	(386)	(2,594)
Deferred financing and original issue discount amortization	1,330	1,332
Stock-based compensation expense	2,829	2,637
Loss on debt restructuring	(3,008)	0
Refinancing costs	1,554	0
Loss on disposal of property and equipment	(56)	(82)
Change in fair value of contingent consideration	332	1,715
Changes in operating items:
Increase (Decrease) in Accounts Receivable	(25,095)	(33,963)
Increase (Decrease) in Inventories	2,341	(38,871)
Increase (Decrease) in Other Operating Assets	4,014	5,934
Accounts payable	14,632	11,406
Other accrued liabilities	(7,221)	(5,190)
Net cash provided by operating activities	11,676	31,507
Cash flows from investing activities:
Payments to Acquire Businesses, Net of Cash Acquired	(23,956)	(300)
Payments to Acquire Productive Assets	17,759	18,111
Other investing activities	(67)	(113)
Net cash used for investing activities	(41,782)	(18,524)
Cash flows from financing activities:
Repayments of senior term loans	(2,128)	(2,128)
Financing fees	(33)	0
Borrowings on revolving credit loans	45,000	39,000
Repayments of revolving credit loans	(27,000)	(44,000)
Finance Lease, Principal Payments	(875)	(494)
Proceeds from exercise of stock options	5,899	0
Payments of contingent consideration	(72)	(1,079)
Other financing activities	(380)	(58)
Net cash provided by (used for) financing activities	20,411	(8,759)
Effect of exchange rate changes on cash	1,814	(555)
Net (decrease) increase in cash and cash equivalents	(7,881)	3,669
Cash and cash equivalents at beginning of period	38,553	31,081
Cash and cash equivalents at end of period	30,672	34,750
Supplemental disclosure of cash flow information:
Interest paid	11,213	15,059
Income taxes paid	871	472
Capital expenditures in accounts payable	$ 3,093	$ 2,818

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-in-Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022	194,548,000
Beginning balance at Dec. 31, 2022	$ 1,156,739,000	$ 20,000	$ 1,404,360,000	$ (226,617,000)	$ (21,024,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(9,132,000)			(9,132,000)
Stock option activity, stock awards and employee stock purchase plan	$ 2,708,000		2,708,000
Stock Issued During Period, Shares, Employee Stock Ownership Plan	0
Hedging activity	$ (5,142,000)
Change in cumulative foreign currency translation adjustment	$ 959,000				959,000
Ending balance (in shares) at Apr. 01, 2023	194,548,000
Ending balance at Apr. 01, 2023	$ 1,146,132,000	$ 20,000	1,407,068,000	(235,749,000)	(25,207,000)
Beginning balance (in shares) at Dec. 30, 2023	194,913,124	194,913,000
Beginning balance at Dec. 30, 2023	$ 1,154,529,000	$ 20,000	1,418,535,000	(236,206,000)	(27,820,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,492,000)			(1,492,000)
Stock option activity, stock awards and employee stock purchase plan	$ 8,585,000		8,585,000
Stock Issued During Period, Shares, Employee Stock Ownership Plan	1,029,000
Hedging activity	$ (1,817,000)
Change in cumulative foreign currency translation adjustment	$ 1,487,000				1,487,000
Ending balance (in shares) at Mar. 30, 2024	195,942,200	195,942,000
Ending balance at Mar. 30, 2024	$ 1,161,292,000	$ 20,000	$ 1,427,120,000	$ (237,698,000)	$ (28,150,000)

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Hillman Solutions Corp. and its wholly-owned subsidiaries (collectively “Hillman” or the “Company”). The accompanying unaudited financial statements include the condensed consolidated accounts of the Company for the thirteen weeks ended March 30, 2024. Unless the context requires otherwise, references to "Hillman," "we," "us," "our," or "our Company" refer to Hillman Solutions Corp. and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated. The accompanying unaudited Condensed Consolidated Financial Statements present information in accordance with accounting principles generally accepted in the United States for interim financial information and the instructions to Form 10-Q and applicable rules of Regulation S-X. Accordingly, they do not include all information or footnotes required by U.S. generally accepted accounting principles for complete financial statements. Operating results for the thirteen weeks ended March 30, 2024 do not necessarily indicate the results that may be expected for the full year. For further information, refer to the Consolidated Financial Statements for the year ended December 30, 2023 and notes thereto included in the Form 10-K filed on February 22, 2024 with the Securities and Exchange Commission (“SEC”). “Hillman Solutions Corp.," "HMAN Group Holdings Inc.," and "The Hillman Companies, Inc." are holding companies with no other operations, cash flows, material assets or liabilities other than the equity interests in "The Hillman Group, Inc.,", which is the borrower under the credit facility. Nature of Operations: The Company is comprised of three separate operating business segments: (1) Hardware and Protective Solutions, (2) Robotics and Digital Solutions, and (3) Canada.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	The significant accounting policies should be read in conjunction with the significant accounting policies included in the Form 10-K filed on February 22, 2024 with the SEC. Use of Estimates in the Preparation of Financial Statements: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses for the reporting periods. Actual results may differ from these estimates. Revenue Recognition: Revenue is recognized when control of goods or services is transferred to our customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company offers a variety of sales incentives to its customers primarily in the form of discounts and rebates. Discounts are recognized in the Condensed Consolidated Financial Statements at the date of the related sale. Rebates are based on the revenue to date and the contractual rebate percentage to be paid. A portion of the cost of the rebate is allocated to each underlying sales transaction. Discounts and rebates are included in the determination of net sales. The Company also establishes reserves for customer returns and allowances. The reserve is established based on historical rates of returns and allowances. The reserve is adjusted quarterly based on actual experience. Returns and allowances are included in the determination of net sales. The following tables display our disaggregated revenue by product category. Thirteen weeks ended March 30, 2024 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue Fastening and Hardware $ 214,390 $ — $ 31,589 $ 245,979 Personal Protective 45,484 — 1,408 46,892 Keys and Key Accessories — 43,637 1,952 45,589 Engraving and Resharp — 11,835 10 11,845 Total Revenue $ 259,874 $ 55,472 $ 34,959 $ 350,305 Thirteen weeks ended April 1, 2023 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue Fastening and Hardware $ 204,974 $ — $ 31,221 $ 236,195 Personal Protective 48,877 — 1,613 50,490 Keys and Key Accessories — 48,548 1,941 50,489 Engraving and Resharp — 12,518 15 12,533 Total Revenue $ 253,851 $ 61,066 $ 34,790 $ 349,707 The following tables disaggregate our revenue by geographic location. Thirteen weeks ended March 30, 2024 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue United States $ 255,492 $ 55,472 $ — $ 310,964 Canada — — 34,959 34,959 Mexico 4,382 — — 4,382 Consolidated $ 259,874 $ 55,472 $ 34,959 $ 350,305 Thirteen weeks ended April 1, 2023 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue United States $ 249,468 $ 61,066 $ — $ 310,534 Canada — — 34,790 34,790 Mexico 4,383 — — 4,383 Consolidated $ 253,851 $ 61,066 $ 34,790 $ 349,707 The Company's revenue by geography is allocated based on the location of its sales operations. Hardware and Protective Solutions revenues consist primarily of the delivery of fasteners, anchors, specialty fastening products, and personal protective equipment such as gloves and eyewear, as well as in-store merchandising services for the related product category. Robotics and Digital Solutions revenues consist primarily of sales of keys and identification tags through self-service key duplication and engraving kiosks. It also includes our associate-assisted key duplication systems and key accessories. Canada revenues consist primarily of the delivery to Canadian customers of fasteners and related hardware items, threaded rod, keys, key duplicating systems, accessories, personal protective equipment, and identification items as well as in-store merchandising services for the related product category. The Company’s performance obligations under its arrangements with customers are providing products, in-store merchandising services, and access to key duplicating and engraving equipment. Generally, the price of the merchandising services and the access to the key duplicating and engraving equipment is included in the price of the related products. Control of products is transferred at the point in time when the customer accepts the goods, which occurs upon delivery of the products. Judgment is required in determining the time at which to recognize revenue for the in-store services and the access to key duplicating and engraving equipment. Revenue is recognized for in-store service and access to key duplicating and engraving equipment as the related products are delivered, which approximates a time-based recognition pattern. Therefore, the entire amount of consideration related to the sale of products, in-store merchandising services, and access to key duplicating and engraving equipment is recognized upon the delivery of the products. The costs to obtain a contract are insignificant, and generally contract terms do not extend beyond one year. Therefore, these costs are expensed as incurred. Freight and shipping costs and the cost of our in-store merchandising services teams are recognized in selling, warehouse, general, and administrative expense when control over products is transferred to the customer. The Company used the practical expedient regarding the existence of a significant financing component as payments are due in less than one year after delivery of the products.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
Goodwill and Other Intangible Assets	Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill amounts by reportable segment are summarized as follows: Goodwill at Acquisitions Dispositions Other (1) Goodwill at December 30, 2023 March 30, 2024 Hardware and Protective Solutions $ 575,298 $ 3,821 $ — $ 105 $ 579,224 Robotics and Digital Solutions 220,936 — — — 220,936 Canada 28,808 — — (689) 28,119 Total $ 825,042 $ 3,821 $ — $ (584) $ 828,279 (1) The "Other" change to goodwill relates to adjustments resulting from fluctuations in foreign currency exchange rates for the Canada and Hardware Solutions reporting units . Other intangibles, net, as of March 30, 2024 and December 30, 2023 consist of the following: Estimated March 30, 2024 December 30, 2023 Customer relationships 13 - 20 $ 947,517 $ 944,713 Trademarks - indefinite Indefinite 85,387 85,520 Trademarks - other 7 - 15 29,449 31,665 Technology and patents 5 - 12 66,757 64,186 Intangible assets, gross 1,129,110 1,126,084 Less: Accumulated amortization 485,751 470,791 Other intangibles, net $ 643,359 $ 655,293 The amortization expense for intangible assets, including the adjustments resulting from fluctuations in foreign currency exchange rates for the thirteen weeks ended March 30, 2024 was $15,254. Amortization expense for the thirteen weeks ended April 1, 2023 was $15,572.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Insurance Coverage The Company self-insures its general liability including product liability, automotive and workers' compensation losses up to $500 per occurrence. Catastrophic coverage has been purchased from third party insurers for occurrences up to $60,000. The two risk areas involving the most significant accounting estimates are workers' compensation and automotive liability. Actuarial valuations performed by the Company's outside risk insurance expert were used by the Company's management to form the basis for workers' compensation and automotive liability loss reserves. The actuary contemplated the Company's specific loss history, actual claims reported, and industry trends among statistical and other factors to estimate the range of reserves required. Risk insurance reserves are comprised of specific reserves for individual claims and additional amounts expected for development of these claims, as well as for incurred but not yet reported claims. The Company believes that the liability of approximately $2,593 recorded for such risks is adequate as of March 30, 2024. As of March 30, 2024, the Company has provided certain vendors and insurers letters of credit aggregating to $40,890 related to our product purchases and insurance coverage for product liability, workers’ compensation, and general liability. The Company self-insures group health claims up to an annual stop loss limit of $300 per participant. Historical group insurance loss experience forms the basis for the recognition of group health insurance reserves. Provisions for losses expected under these programs are recorded based on an analysis of historical insurance claim data and certain actuarial assumptions. The Company believes that the liability of approximately $3,001 recorded for such risks is adequate as of March 30, 2024. Import Duties The Company imports large quantities of fastener products which are subject to customs requirements and to tariffs and quotas set by governments through mutual agreements and bilateral actions. The Company could be subject to the assessment of additional duties and interest if it or its suppliers fail to comply with customs regulations or similar laws. The U.S. Department of Commerce (the "Department”) has received requests from petitioners to conduct administrative reviews of compliance with anti-dumping duty and countervailing duty laws for certain nail products sourced from Asian countries. The Company sourced products under review from vendors in China and Taiwan during the periods selected for review. The Company accrues for the duty expense once it is determined to be probable and the amount can be reasonably estimated. Litigation We are involved in litigation arising in the normal course of business. In management’s opinion, any such litigation is not expected to have a material adverse effect on our consolidated financial condition, results of operations, or cash flows.

Related Party Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Hillman, Jefferies Financial Group Inc., certain other financial sponsors, CCMP Investors and the Oak Hill Investors entered into the Amended and Restated Registration Rights Agreement (the “A&R Registration Rights Agreement”), pursuant to which, among other things, the parties to the A&R Registration Rights Agreement agreed not to effect any sale or distribution of any equity securities of Hillman held by any of them during the lock-up period described therein and were granted certain registration rights with respect to their respective shares of Hillman common stock, in each case, on the terms and subject to the conditions therein. Richard Zannino and Joe Scharfenberger, both partners at CCMP, were members of our Board at the time Hillman entered into the A&R Registration Rights Agreement. Mr. Zannino and Mr. Scharfenberger each resigned from the Hillman Board in May 2023 following CCMP's complete exit of its investment in Hillman during the second quarter of 2023. Another director, Teresa Gendron, was the CFO of Jefferies Financial Group until March 2023.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	ASC 740 requires companies to apply their estimated annual effective tax rate on a year-to-date basis in each interim period. These rates are derived, in part, from expected annual pre-tax income or loss. In the thirteen weeks ended March 30, 2024 and the thirteen weeks ended April 1, 2023, the Company applied an estimated annual effective tax rate based on expected annual pre-tax income to the interim period pre-tax loss to calculate the income tax benefit. Given that the Company is forecasting positive income for the full fiscal year, the Company anticipates that the income tax benefit recorded as of March 30, 2024 will reverse to an income tax provision by the end of the fiscal year. For the thirteen weeks ended March 30, 2024, the effective income tax rate was 24.5%. The Company recorded an income tax benefit for the thirteen weeks ended March 30, 2024 of $483. The effective tax rate for the thirteen weeks ended March 30, 2024 was the result of certain non-deductible expenses and state and foreign income taxes. For the thirteen weeks ended April 1, 2023, the effective income tax rate was 46.2%. The Company recorded an income tax benefit for the thirteen weeks ended April 1, 2023 of $7,856. The effective tax rate for the thirteen weeks ended April 1, 2023 was the result of GILTI from the Company's Canadian operations, certain non-deductible expenses, and state and foreign income taxes.

Long Term Debt

Long Term Debt	3 Months Ended
Long Term Debt	Mar. 30, 2024
Debt Disclosure [Abstract]
Long Term Debt	The following table summarizes the Company’s debt: March 30, 2024 December 30, 2023 Revolving loans $ 18,000 $ — Senior Term Loan, due 2028 749,725 751,852 Finance lease & other obligations 10,453 9,097 778,178 760,949 Unamortized discount on Senior Term Loan (3,549) (4,087) Current portion of long-term debt and finance leases (10,061) (9,952) Deferred financing fees (13,253) (15,202) Total long-term debt, net $ 751,315 $ 731,708 As of March 30, 2024, the Asset-Backed Loan ("ABL") Revolver had an outstanding amount of $18,000 and outstanding letters of credit of $40,890. The Company has $211,619 of available borrowings under the revolving credit facility as a source of liquidity as of March 30, 2024 based on the customary ABL borrowing base and availability provisions.

Leases

Leases	3 Months Ended
Leases	Mar. 30, 2024
Leases [Abstract]
Finance Leases	Lessee The Company determines if a contract is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both 1) the right to obtain substantially all of the economic benefits from the use of the asset and 2) the right to direct the use of the asset. The Company leases certain distribution center locations, vehicles, forklifts, computer equipment, and its corporate headquarters with expiration dates through 2033. Certain lease arrangements include escalating rent payments and options to extend the lease term. Expected lease terms include these options to extend or terminate the lease when it is reasonably certain the Company will exercise the option. The Company's leasing arrangements do not contain material residual value guarantees, nor material restrictive covenants. The components of operating and finance lease costs for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023 were as follows: Thirteen Weeks Ended Thirteen Weeks Ended Operating lease costs $ 5,214 $ 5,447 Short term lease costs 1,231 1,349 Variable lease costs 517 335 Finance lease costs: Amortization of right of use assets 939 505 Interest on lease liabilities 128 36 Rent expense is recognized on a straight-line basis over the expected lease term. Rent expense totaled $6,962 in the thirteen weeks ended March 30, 2024 and $7,131 in the thirteen weeks ended April 1, 2023. Rent expense includes operating lease costs as well as expenses for non-lease components such as common area maintenance, real estate taxes, real estate insurance, variable costs related to our leased vehicles and also short-term rental expenses. The implicit rate is not determinable in most of the Company’s leases, as such management uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of March 30, 2024 and December 30, 2023: March 30, 2024 December 30, 2023 Operating Leases Finance Leases Operating Leases Finance Leases Weighted average remaining lease term 6.07 3.06 6.33 2.95 Weighted average discount rate 6.95 % 5.64 % 7.04 % 5.38 % Supplemental balance sheet information related to the Company's finance leases was as follows as of March 30, 2024 and December 30, 2023: March 30, 2024 December 30, 2023 Finance lease assets, net, included in property plant and equipment $ 8,835 $ 7,166 Current portion of long-term debt 3,288 2,800 Long-term debt, less current portion 5,759 4,512 Total principal payable on finance leases $ 9,047 $ 7,312 Supplemental cash flow information related to the Company's operating and finance leases was as follows for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023: Thirteen Weeks Ended Thirteen Weeks Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 5,270 $ 4,872 Operating cash outflow from finance leases 124 34 Financing cash outflow from finance leases 875 494 As of March 30, 2024, our future minimum rental commitments are immaterial for lease agreements beginning after the current reporting period. Maturities of our lease liabilities for all operating and finance leases are as follows as of March 30, 2024: Operating Leases Finance Leases Less than one year $ 21,134 $ 3,717 1 to 2 years 20,312 3,053 2 to 3 years 19,475 1,962 3 to 4 years 17,079 876 4 to 5 years 14,482 272 After 5 years 22,363 11 Total future minimum rental commitments 114,845 9,891 Less - amounts representing interest (20,705) (844) Present value of lease liabilities $ 94,140 $ 9,047 Lessor The Company has certain arrangements for key duplication equipment under which we are the lessor. These leases meet the criteria for operating lease classification. Lease income associated with these leases is not material.
Operating Leases	Lessee The Company determines if a contract is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both 1) the right to obtain substantially all of the economic benefits from the use of the asset and 2) the right to direct the use of the asset. The Company leases certain distribution center locations, vehicles, forklifts, computer equipment, and its corporate headquarters with expiration dates through 2033. Certain lease arrangements include escalating rent payments and options to extend the lease term. Expected lease terms include these options to extend or terminate the lease when it is reasonably certain the Company will exercise the option. The Company's leasing arrangements do not contain material residual value guarantees, nor material restrictive covenants. The components of operating and finance lease costs for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023 were as follows: Thirteen Weeks Ended Thirteen Weeks Ended Operating lease costs $ 5,214 $ 5,447 Short term lease costs 1,231 1,349 Variable lease costs 517 335 Finance lease costs: Amortization of right of use assets 939 505 Interest on lease liabilities 128 36 Rent expense is recognized on a straight-line basis over the expected lease term. Rent expense totaled $6,962 in the thirteen weeks ended March 30, 2024 and $7,131 in the thirteen weeks ended April 1, 2023. Rent expense includes operating lease costs as well as expenses for non-lease components such as common area maintenance, real estate taxes, real estate insurance, variable costs related to our leased vehicles and also short-term rental expenses. The implicit rate is not determinable in most of the Company’s leases, as such management uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of March 30, 2024 and December 30, 2023: March 30, 2024 December 30, 2023 Operating Leases Finance Leases Operating Leases Finance Leases Weighted average remaining lease term 6.07 3.06 6.33 2.95 Weighted average discount rate 6.95 % 5.64 % 7.04 % 5.38 % Supplemental balance sheet information related to the Company's finance leases was as follows as of March 30, 2024 and December 30, 2023: March 30, 2024 December 30, 2023 Finance lease assets, net, included in property plant and equipment $ 8,835 $ 7,166 Current portion of long-term debt 3,288 2,800 Long-term debt, less current portion 5,759 4,512 Total principal payable on finance leases $ 9,047 $ 7,312 Supplemental cash flow information related to the Company's operating and finance leases was as follows for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023: Thirteen Weeks Ended Thirteen Weeks Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 5,270 $ 4,872 Operating cash outflow from finance leases 124 34 Financing cash outflow from finance leases 875 494 As of March 30, 2024, our future minimum rental commitments are immaterial for lease agreements beginning after the current reporting period. Maturities of our lease liabilities for all operating and finance leases are as follows as of March 30, 2024: Operating Leases Finance Leases Less than one year $ 21,134 $ 3,717 1 to 2 years 20,312 3,053 2 to 3 years 19,475 1,962 3 to 4 years 17,079 876 4 to 5 years 14,482 272 After 5 years 22,363 11 Total future minimum rental commitments 114,845 9,891 Less - amounts representing interest (20,705) (844) Present value of lease liabilities $ 94,140 $ 9,047 Lessor The Company has certain arrangements for key duplication equipment under which we are the lessor. These leases meet the criteria for operating lease classification. Lease income associated with these leases is not material.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
Stock Based Compensation	Mar. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	2014 Equity Incentive Plan The 2014 Equity Incentive Plan may grant options, stock appreciation rights, restricted stock, and other stock-based awards for up to an aggregate of 14,523,510 shares of its common stock. The 2014 Equity Incentive Plan had stock compensation expense of $407 recognized in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss) for the thirteen weeks ended March 30, 2024 and $1,291 for the thirteen weeks ended April 1, 2023. Stock Options The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The time-based stock option awards generally vest evenly over four years from the grant date and performance-based options vest based Company stock price hurdles. Restricted Stock The Company granted restricted stock at the grant date fair value of the underlying common stock securities. The restrictions lapse in one quarter increments on each of the three Restricted Stock Units The Restricted Stock Units ("RSUs") granted to employees for service generally vest after three years, subject to continued employment. Exercise of Stock Options During the thirteen weeks ended March 30, 2024, 847,779 outstanding options under the 2014 were exercised providing aggregate proceeds to the Company of approximately $5,899. There were not any options exercised in the thirteen weeks ended April 1, 2023. 2021 Equity Incentive Plan Effective July 14, 2021, the Company established the 2021 Equity Incentive Plan. Under the 2021 Equity Incentive Plan (the “2021 Plan”), the maximum number of shares of common stock that may be delivered in satisfaction of awards under the 2021 Plan as of the Effective Date is (i) 7,150,814 shares, plus (ii) the number of shares of stock underlying awards under the 2014 Equity Incentive Plan that on or after the Effective Date expire or become unexercisable, or are forfeited, cancelled or otherwise terminated, in each case, without delivery of shares or cash therefore, and would have become available again for grant under the Prior Plan in accordance with its terms (not to exceed 14,523,510 shares of common stock in the aggregate). The 2021 Equity Incentive Plan had stock compensation expense of $2,303 and $1,266 recognized in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss) for the thirteen weeks ended March 30, 2024 and for the thirteen weeks ended April 1, 2023, respectfully. Stock Options The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The time-based stock option awards generally vest evenly over four years from the grant date and performance-based options vest based on specified targets such as Company performance and Company stock price hurdles. Restricted Stock Units The RSUs granted to employees for service generally vest after three years, subject to continued employment. The RSUs granted to non-employee directors generally vest in full on sooner of the first anniversary of the grant date or the Company's next annual meeting of stockholders. 2021 Employee Stock Purchase Plan Our Employee Stock Purchase Plan ("ESPP") became effective on July 14, 2021, in which 1,140,754 shares of common stock were available for issuance under the ESPP. Under the ESPP, eligible employees are granted options to purchase shares of common stock at 85% of the fair market value at the time of exercise. Options to purchase shares are granted four times a year on the first payroll date in January, April, July, and October of each year and ending approximately three months later on the last business day in March, June, September or December. No employee may be granted an option under the Plan if, immediately after the option is granted, the employee would own stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company. Compensation expense associated with ESPP purchase rights is recognized on a straight-line basis over the vesting period. As of the thirteen weeks ended March 30, 2024, there was approximately $119, and as of thirteen weeks ended April 1, 2023, there was approximately $80 of compensation expense related to the ESPP, respectfully.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share include the dilutive effect of stock options and restricted stock awards and units. The following is a reconciliation of the basic and diluted earnings per share ("EPS") computations for both the numerator and denominator (in thousands, except per share data): Thirteen weeks ended March 30, 2024 Earnings Shares Per Share Net loss $ (1,492) 195,365 $ (0.01) Dilutive effect of stock options and awards — — — Net loss per diluted common share $ (1,492) 195,365 $ (0.01) Thirteen weeks ended April 1, 2023 Earnings Shares Per Share Net loss $ (9,132) 194,548 (0.05) Dilutive effect of stock options and awards — — — Net loss per diluted common share $ (9,132) 194,548 (0.05)

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
Derivatives and Hedging	Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	FASB ASC 815, Derivatives and Hedging ("ASC 815"), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity's financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company's objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments. The Company uses derivative financial instruments to manage its exposures to (1) interest rate fluctuations on its floating rate senior term loan and (2) fluctuations in foreign currency exchange rates. The Company measures those instruments at fair value and recognizes changes in the fair value of derivatives in earnings in the period of change, unless the derivative qualifies as an effective hedge that offsets certain exposures. The Company does not enter into derivative transactions for speculative purposes and, therefore, holds no derivative instruments for trading purposes. Interest Rate Swap Agreements On July 9, 2021, the Company entered into an interest swap agreement ("2021 Swap 1") for a notional amount of $144,000. The forward start date of the 2021 Swap 1 was July 30, 2021 and the termination date is July 31, 2024. Originally, the 2021 Swap 1 had a determined pay fixed interest rate of 0.75%. As of June 30, 2023 the Company modified the terms of the swaps to replace the LIBOR-based reference rates with SOFR-based reference rates, in accordance with the respective swap agreements and market conventions. This modification resulted in a determined pay fixed interest rate of 0.74%. In accordance with ASC 815, the Company determined the 2021 Swap 1 constituted an effective cash flow hedge and therefore changes in fair value are recorded within other comprehensive loss within the Company's Statement of Comprehensive Income (Loss) and the deferred gains or losses are reclassified out of other comprehensive loss into interest expense in the same period during which the hedged transactions affect earnings. On July 9, 2021, the Company entered into an interest swap agreement ("2021 Swap 2") for a notional amount of $216,000. The forward start date of the 2021 Swap 2 was July 30, 2021 and the termination date is July 31, 2024. Originally, the 2021 Swap 2 had a determined pay fixed interest rate of 0.76%. As of June 30, 2023 the Company modified the terms of the swaps to replace the LIBOR-based reference rates with SOFR-based reference rates, in accordance with the respective swap agreements and market conventions. This modification resulted in a determined pay fixed interest rate of 0.74%. In accordance with ASC 815, the Company determined the 2021 Swap 2 constituted an effective cash flow hedge and therefore changes in fair value are recorded within other comprehensive loss within the Company's Statement of Comprehensive Income (Loss) and the deferred gains or losses are reclassified out of other comprehensive loss into interest expense in the same period during which the hedged transactions affect earnings. On December 19, 2023, the Company entered into an interest swap agreement ("2024 Swap 1") for a notional amount of $144,000. The forward start date of the 2024 Swap 1 is July 21, 2024 and the termination date is January 31, 2027. The 2024 Swap 1 has a determined pay fixed interest rate of 3.8%. In accordance with ASC 815, the Company determined the 2024 Swap 1 constituted an effective cash flow hedge and therefore changes in fair value are recorded within other comprehensive loss within the Company's Statement of Comprehensive Income (Loss) and the deferred gains or losses are reclassified out of other comprehensive loss into interest expense in the same period during which the hedged transactions affect earnings. On December 19, 2023, the Company entered into an interest swap agreement ("2024 Swap 2") for a notional amount of $216,000. The forward start date of the 2024 Swap 2 is July 21, 2024 and the termination date is January 31, 2027. The 2024 Swap 2 has a determined pay fixed interest rate of 3.62%. In accordance with ASC 815, the Company determined the 2024 Swap 2 constituted an effective cash flow hedge and therefore changes in fair value are recorded within other comprehensive loss within the Company's Statement of Comprehensive Income (Loss) and the deferred gains or losses are reclassified out of other comprehensive loss into interest expense in the same period during which the hedged transactions affect earnings. As of March 30, 2024 the Company did not hold any derivative liabilities. The following table summarizes the Company's derivative financial instruments: Asset Derivatives Liability Derivatives As of March 30, 2024 As of December 30, 2023 As of March 30, 2024 As of December 30, 2023 Balance Sheet Fair Value Fair Value Balance Sheet Fair Value Fair Value Derivatives designated as hedging instruments: 2021 Swap 1 Other current/other non-current assets $ 2,179 $ 3,560 Other accrued expenses $ — $ — 2021 Swap 2 Other current/other non-current assets 3,266 5,336 Other accrued expenses — — 2024 Swap 1 Other current/other non-current assets 938 207 Other non-current liabilities — (1,613) 2024 Swap 2 Other current/other non-current assets 2,307 436 Other non-current liabilities — (1,660) Total hedging instruments: $ 8,690 $ 9,539 $ — $ (3,273) Additional information with respect to the fair value of derivative instruments is included in Note 15 - Fair Value Measurements.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	The Company uses the accounting guidance that applies to all assets and liabilities that are being measured and reported on a fair value basis. The guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions. The accounting guidance establishes a hierarchy which requires an entity to maximize the use of quoted market prices and minimize the use of unobservable inputs. An asset or liability's level is based on the lowest level of input that is significant to the fair value measurement. The following tables set forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis during the period, by level, within the fair value hierarchy: As of March 30, 2024 Level 1 Level 2 Level 3 Total Trading securities $ 875 $ — $ — $ 875 Interest rate swaps — 8,690 — 8,690 Contingent consideration payable — — 5,155 5,155 As of December 30, 2023 Level 1 Level 2 Level 3 Total Trading securities $ 818 $ — $ — $ 818 Interest rate swaps — 6,266 — 6,266 Contingent consideration payable — — 4,895 4,895 Trading securities are valued using quoted prices on an active exchange. Trading securities represent assets held in a Rabbi Trust to fund deferred compensation liabilities and are included as Other assets on the accompanying Condensed Consolidated Balance Sheets. The Company utilizes interest rate swap contracts to manage our targeted mix of fixed and floating rate debt, and these contracts are valued using observable benchmark rates at commonly quoted intervals for the full term of the swap contracts. As of March 30, 2024 and December 30, 2023, the Company's interest rate swaps were recorded on the accompanying Condensed Consolidated Balance Sheets in accordance with ASC 815. The contingent consideration represents future potential earn-out payments related to the Resharp acquisition in fiscal 2019 and the Instafob acquisition in the first quarter of 2020. The estimated fair value of the contingent earn-outs was determined using a Monte Carlo analysis examining the frequency and mean value of the resulting earn-out payments. The resulting value captures the risk associated with the form of the payout structure. The risk neutral method is applied, resulting in a value that captures the risk associated with the form of the payout structure and the projection risk. The carrying amount of the liability may fluctuate significantly and actual amounts paid may be materially different from the estimated value of the liability. The current and non-current portions of these obligations are reported separately on the Condensed Consolidated Balance Sheets as other accrued expense and other non-current liabilities, respectively. Subsequent changes in the fair value of the contingent consideration liabilities, as determined by using a simulation model of the Monte Carlo analysis that includes updated projections applicable to the liability, are recorded within other income (expense) in the Condensed Consolidated Statements of Comprehensive Income (Loss). The table below provides a summary of the changes in fair value of the Company’s contingent consideration (Level 3) for Resharp and Instafob as of March 30, 2024. Resharp Instafob Other accrued expense Other non-current liabilities Other accrued expense Other non-current liabilities Total Fair value as of December 30, 2023 $ 200 $ 4,600 $ 16 $ 79 $ 4,895 Fair value of cash consideration paid (69) — (3) — (72) Change in fair value of contingent consideration 70 300 (3) (35) 332 Fair value as of March 30, 2024 $ 201 $ 4,900 $ 10 $ 44 $ 5,155 Cash, accounts receivable, short-term borrowings and accounts payable are reflected in the Condensed Consolidated Balance Sheets at book value, which approximates fair value, due to the short-term nature of these instruments. The carrying amounts of the long-term debt under the revolving credit facility and term loan approximate the fair value at March 30, 2024 and December 30, 2023 as the interest rate is variable and approximates current market rates of debt based on observable market transactions with similar terms and comparable credit risk.

Segment Reporting

Segment Reporting	3 Months Ended
Segment Reporting	Mar. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	The Company’s segment reporting structure uses the Company’s management reporting structure as the foundation for how the Company manages its business. The Company periodically evaluates its segment reporting structure in accordance with ASC 350-20-55 and has concluded that it has three reportable segments as of March 30, 2024: Hardware and Protective Solutions, Robotics and Digital Solutions, and Canada. The Company evaluates the performance of its segments based on revenue and income from operations, and does not include segment assets nor non-operating income/expense items for management reporting purposes. The table below presents revenues and income from operations for our reportable segments for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023. Thirteen Weeks Ended Thirteen Weeks Ended Revenues Hardware and Protective Solutions $ 259,874 $ 253,851 Robotics and Digital Solutions 55,472 61,066 Canada 34,959 34,790 Total revenues $ 350,305 $ 349,707 Segment Income from Operations Hardware and Protective Solutions $ 9,248 $ (3,836) Robotics and Digital Solutions 5,757 4,462 Canada 1,299 463 Total segment income from operations $ 16,304 $ 1,089

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 30, 2024
Accounting Policies [Abstract]
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses for the reporting periods. Actual results may differ from these estimates.
Revenue Recognition	Revenue Recognition: Revenue is recognized when control of goods or services is transferred to our customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company offers a variety of sales incentives to its customers primarily in the form of discounts and rebates. Discounts are recognized in the Condensed Consolidated Financial Statements at the date of the related sale. Rebates are based on the revenue to date and the contractual rebate percentage to be paid. A portion of the cost of the rebate is allocated to each underlying sales transaction. Discounts and rebates are included in the determination of net sales. The Company also establishes reserves for customer returns and allowances. The reserve is established based on historical rates of returns and allowances. The reserve is adjusted quarterly based on actual experience. Returns and allowances are included in the determination of net sales. The following tables display our disaggregated revenue by product category. Thirteen weeks ended March 30, 2024 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue Fastening and Hardware $ 214,390 $ — $ 31,589 $ 245,979 Personal Protective 45,484 — 1,408 46,892 Keys and Key Accessories — 43,637 1,952 45,589 Engraving and Resharp — 11,835 10 11,845 Total Revenue $ 259,874 $ 55,472 $ 34,959 $ 350,305 Thirteen weeks ended April 1, 2023 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue Fastening and Hardware $ 204,974 $ — $ 31,221 $ 236,195 Personal Protective 48,877 — 1,613 50,490 Keys and Key Accessories — 48,548 1,941 50,489 Engraving and Resharp — 12,518 15 12,533 Total Revenue $ 253,851 $ 61,066 $ 34,790 $ 349,707 The following tables disaggregate our revenue by geographic location. Thirteen weeks ended March 30, 2024 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue United States $ 255,492 $ 55,472 $ — $ 310,964 Canada — — 34,959 34,959 Mexico 4,382 — — 4,382 Consolidated $ 259,874 $ 55,472 $ 34,959 $ 350,305 Thirteen weeks ended April 1, 2023 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue United States $ 249,468 $ 61,066 $ — $ 310,534 Canada — — 34,790 34,790 Mexico 4,383 — — 4,383 Consolidated $ 253,851 $ 61,066 $ 34,790 $ 349,707 The Company's revenue by geography is allocated based on the location of its sales operations. Hardware and Protective Solutions revenues consist primarily of the delivery of fasteners, anchors, specialty fastening products, and personal protective equipment such as gloves and eyewear, as well as in-store merchandising services for the related product category. Robotics and Digital Solutions revenues consist primarily of sales of keys and identification tags through self-service key duplication and engraving kiosks. It also includes our associate-assisted key duplication systems and key accessories. Canada revenues consist primarily of the delivery to Canadian customers of fasteners and related hardware items, threaded rod, keys, key duplicating systems, accessories, personal protective equipment, and identification items as well as in-store merchandising services for the related product category. The Company’s performance obligations under its arrangements with customers are providing products, in-store merchandising services, and access to key duplicating and engraving equipment. Generally, the price of the merchandising services and the access to the key duplicating and engraving equipment is included in the price of the related products. Control of products is transferred at the point in time when the customer accepts the goods, which occurs upon delivery of the products. Judgment is required in determining the time at which to recognize revenue for the in-store services and the access to key duplicating and engraving equipment. Revenue is recognized for in-store service and access to key duplicating and engraving equipment as the related products are delivered, which approximates a time-based recognition pattern. Therefore, the entire amount of consideration related to the sale of products, in-store merchandising services, and access to key duplicating and engraving equipment is recognized upon the delivery of the products. The costs to obtain a contract are insignificant, and generally contract terms do not extend beyond one year. Therefore, these costs are expensed as incurred. Freight and shipping costs and the cost of our in-store merchandising services teams are recognized in selling, warehouse, general, and administrative expense when control over products is transferred to the customer. The Company used the practical expedient regarding the existence of a significant financing component as payments are due in less than one year after delivery of the products.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 30, 2024
Accounting Policies [Abstract]
Recent Accounting Pronouncements	On November 27, 2023, the FASB ("Financial Accounting Standards Board") issued ASU ("Accounting Standards Update") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments is to enable investors to better understand an entity’s overall performance and assists in assessing potential future cash flows. The amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 and should be applied retrospectively to all prior periods presented. The Company is currently evaluating the impact provided by the new standard. On December 14, 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. The amendments in this update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The amendments on Income Tax Disclosures are effective for fiscal years beginning after December 15, 2024, and should be applied retrospectively to all prior periods presented. The Company is currently evaluating the impact provided by the new standard.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 30, 2024
Accounting Policies [Abstract]
Disaggregation of Revenue	The following tables display our disaggregated revenue by product category. Thirteen weeks ended March 30, 2024 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue Fastening and Hardware $ 214,390 $ — $ 31,589 $ 245,979 Personal Protective 45,484 — 1,408 46,892 Keys and Key Accessories — 43,637 1,952 45,589 Engraving and Resharp — 11,835 10 11,845 Total Revenue $ 259,874 $ 55,472 $ 34,959 $ 350,305 Thirteen weeks ended April 1, 2023 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue Fastening and Hardware $ 204,974 $ — $ 31,221 $ 236,195 Personal Protective 48,877 — 1,613 50,490 Keys and Key Accessories — 48,548 1,941 50,489 Engraving and Resharp — 12,518 15 12,533 Total Revenue $ 253,851 $ 61,066 $ 34,790 $ 349,707 The following tables disaggregate our revenue by geographic location. Thirteen weeks ended March 30, 2024 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue United States $ 255,492 $ 55,472 $ — $ 310,964 Canada — — 34,959 34,959 Mexico 4,382 — — 4,382 Consolidated $ 259,874 $ 55,472 $ 34,959 $ 350,305 Thirteen weeks ended April 1, 2023 Hardware and Protective Solutions Robotics and Digital Solutions Canada Total Revenue United States $ 249,468 $ 61,066 $ — $ 310,534 Canada — — 34,790 34,790 Mexico 4,383 — — 4,383 Consolidated $ 253,851 $ 61,066 $ 34,790 $ 349,707

Business Combinations, Asset Ac

Business Combinations, Asset Acquisitions, and Joint Venture Formation (Tables)	3 Months Ended
	Mar. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table reconciles the fair value of the acquired assets and assumed liabilities to the total purchase price of Koch. Inventory $ 20,194 Other current assets 275 Property and equipment 586 Goodwill 3,821 Customer relationships 3,400 Trade names 300 Total assets acquired $ 28,576 Less: Liabilities assumed (4,620) Total purchase price $ 23,956 Net sales and operating income from Koch included in the Company's Condensed Consolidated Statement of Comprehensive Income (Loss) for the period ended March 30, 2024 was approximately $9,164 and $836, respectively. Pro forma financial information has not been presented for Koch as the financial results of Koch were insignificant to the financial results of the Company on a standalone basis.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
Goodwill and Other Intangible Assets (Tables)	Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill Amounts by Operating Segment	Goodwill amounts by reportable segment are summarized as follows: Goodwill at Acquisitions Dispositions Other (1) Goodwill at December 30, 2023 March 30, 2024 Hardware and Protective Solutions $ 575,298 $ 3,821 $ — $ 105 $ 579,224 Robotics and Digital Solutions 220,936 — — — 220,936 Canada 28,808 — — (689) 28,119 Total $ 825,042 $ 3,821 $ — $ (584) $ 828,279 (1) The "Other" change to goodwill relates to adjustments resulting from fluctuations in foreign currency exchange rates for the Canada and Hardware Solutions reporting units .
Schedule of Finite-Lived Intangible Assets	Other intangibles, net, as of March 30, 2024 and December 30, 2023 consist of the following: Estimated March 30, 2024 December 30, 2023 Customer relationships 13 - 20 $ 947,517 $ 944,713 Trademarks - indefinite Indefinite 85,387 85,520 Trademarks - other 7 - 15 29,449 31,665 Technology and patents 5 - 12 66,757 64,186 Intangible assets, gross 1,129,110 1,126,084 Less: Accumulated amortization 485,751 470,791 Other intangibles, net $ 643,359 $ 655,293
Schedule of Indefinite-Lived Intangible Assets	Other intangibles, net, as of March 30, 2024 and December 30, 2023 consist of the following: Estimated March 30, 2024 December 30, 2023 Customer relationships 13 - 20 $ 947,517 $ 944,713 Trademarks - indefinite Indefinite 85,387 85,520 Trademarks - other 7 - 15 29,449 31,665 Technology and patents 5 - 12 66,757 64,186 Intangible assets, gross 1,129,110 1,126,084 Less: Accumulated amortization 485,751 470,791 Other intangibles, net $ 643,359 $ 655,293

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Mar. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the Company’s debt: March 30, 2024 December 30, 2023 Revolving loans $ 18,000 $ — Senior Term Loan, due 2028 749,725 751,852 Finance lease & other obligations 10,453 9,097 778,178 760,949 Unamortized discount on Senior Term Loan (3,549) (4,087) Current portion of long-term debt and finance leases (10,061) (9,952) Deferred financing fees (13,253) (15,202) Total long-term debt, net $ 751,315 $ 731,708

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 30, 2024
Leases [Abstract]
Lease, Cost	The components of operating and finance lease costs for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023 were as follows: Thirteen Weeks Ended Thirteen Weeks Ended Operating lease costs $ 5,214 $ 5,447 Short term lease costs 1,231 1,349 Variable lease costs 517 335 Finance lease costs: Amortization of right of use assets 939 505 Interest on lease liabilities 128 36 March 30, 2024 December 30, 2023 Operating Leases Finance Leases Operating Leases Finance Leases Weighted average remaining lease term 6.07 3.06 6.33 2.95 Weighted average discount rate 6.95 % 5.64 % 7.04 % 5.38 % Supplemental cash flow information related to the Company's operating and finance leases was as follows for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023: Thirteen Weeks Ended Thirteen Weeks Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflow from operating leases $ 5,270 $ 4,872 Operating cash outflow from finance leases 124 34 Financing cash outflow from finance leases 875 494
Assets and Liabilities, Lessee	Supplemental balance sheet information related to the Company's finance leases was as follows as of March 30, 2024 and December 30, 2023: March 30, 2024 December 30, 2023 Finance lease assets, net, included in property plant and equipment $ 8,835 $ 7,166 Current portion of long-term debt 3,288 2,800 Long-term debt, less current portion 5,759 4,512 Total principal payable on finance leases $ 9,047 $ 7,312
Lessee, Operating Lease, Liability Maturity	Maturities of our lease liabilities for all operating and finance leases are as follows as of March 30, 2024: Operating Leases Finance Leases Less than one year $ 21,134 $ 3,717 1 to 2 years 20,312 3,053 2 to 3 years 19,475 1,962 3 to 4 years 17,079 876 4 to 5 years 14,482 272 After 5 years 22,363 11 Total future minimum rental commitments 114,845 9,891 Less - amounts representing interest (20,705) (844) Present value of lease liabilities $ 94,140 $ 9,047
Lessee, Financing Lease, Liability Maturity	Maturities of our lease liabilities for all operating and finance leases are as follows as of March 30, 2024: Operating Leases Finance Leases Less than one year $ 21,134 $ 3,717 1 to 2 years 20,312 3,053 2 to 3 years 19,475 1,962 3 to 4 years 17,079 876 4 to 5 years 14,482 272 After 5 years 22,363 11 Total future minimum rental commitments 114,845 9,891 Less - amounts representing interest (20,705) (844) Present value of lease liabilities $ 94,140 $ 9,047

Equity and Accumulated Other Co

Equity and Accumulated Other Comprehensive Income (Tables)	3 Months Ended
Equity and Accumulated Other Comprehensive Income (Tables)	Mar. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Common Stock Hillman Solutions Corp. has one class of common stock. Accumulated Other Comprehensive Income (Loss) The following is detail of the changes in the Company's accumulated other comprehensive income (loss) from December 31, 2022 to March 30, 2024, including the effect of significant reclassifications out of accumulated other comprehensive income (loss) (net of tax): Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2022 $ (21,024) Other comprehensive income before reclassifications 8,812 Amounts reclassified from other comprehensive income (15,608) Net current period other comprehensive income (1) (6,796) Balance at December 30, 2023 (27,820) Other comprehensive income before reclassifications (4,517) Amounts reclassified from other comprehensive income 4,187 Net current period other comprehensive loss ( 2) (330) Balance at March 30, 2024 $ (28,150) 1. During the year ended December 30, 2023, the Company deferred a gain of $125, reclassified a gain of $15,608 net of tax of $3,886 into other comprehensive loss due to hedging activities. The amounts reclassified out of other comprehensive loss were recorded as interest expense. See Note 14 - Derivatives and Hedging for additional information on the interest rate swaps. 2. During the thirteen weeks ended March 30, 2024, the Company deferred a loss of $6,613, reclassified a loss of $4,187 net of tax of $609 into other comprehensive loss due to hedging activities. The amounts reclassified out of other comprehensive loss were recorded as interest expense. See Note 14 - Derivatives and Hedging for additional information on the interest rate swaps.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 30, 2024
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share	The following is a reconciliation of the basic and diluted earnings per share ("EPS") computations for both the numerator and denominator (in thousands, except per share data): Thirteen weeks ended March 30, 2024 Earnings Shares Per Share Net loss $ (1,492) 195,365 $ (0.01) Dilutive effect of stock options and awards — — — Net loss per diluted common share $ (1,492) 195,365 $ (0.01) Thirteen weeks ended April 1, 2023 Earnings Shares Per Share Net loss $ (9,132) 194,548 (0.05) Dilutive effect of stock options and awards — — — Net loss per diluted common share $ (9,132) 194,548 (0.05)

Derivative and Hedging (Tables)

Derivative and Hedging (Tables)	3 Months Ended
Derivative and Hedging (Tables)	Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Financial Instruments	The following table summarizes the Company's derivative financial instruments: Asset Derivatives Liability Derivatives As of March 30, 2024 As of December 30, 2023 As of March 30, 2024 As of December 30, 2023 Balance Sheet Fair Value Fair Value Balance Sheet Fair Value Fair Value Derivatives designated as hedging instruments: 2021 Swap 1 Other current/other non-current assets $ 2,179 $ 3,560 Other accrued expenses $ — $ — 2021 Swap 2 Other current/other non-current assets 3,266 5,336 Other accrued expenses — — 2024 Swap 1 Other current/other non-current assets 938 207 Other non-current liabilities — (1,613) 2024 Swap 2 Other current/other non-current assets 2,307 436 Other non-current liabilities — (1,660) Total hedging instruments: $ 8,690 $ 9,539 $ — $ (3,273)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 30, 2024
Fair Value Disclosures [Abstract]
Measurement of Assets and Liabilities at Fair Value on Recurring Basis	The following tables set forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis during the period, by level, within the fair value hierarchy: As of March 30, 2024 Level 1 Level 2 Level 3 Total Trading securities $ 875 $ — $ — $ 875 Interest rate swaps — 8,690 — 8,690 Contingent consideration payable — — 5,155 5,155 As of December 30, 2023 Level 1 Level 2 Level 3 Total Trading securities $ 818 $ — $ — $ 818 Interest rate swaps — 6,266 — 6,266 Contingent consideration payable — — 4,895 4,895
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	The table below provides a summary of the changes in fair value of the Company’s contingent consideration (Level 3) for Resharp and Instafob as of March 30, 2024. Resharp Instafob Other accrued expense Other non-current liabilities Other accrued expense Other non-current liabilities Total Fair value as of December 30, 2023 $ 200 $ 4,600 $ 16 $ 79 $ 4,895 Fair value of cash consideration paid (69) — (3) — (72) Change in fair value of contingent consideration 70 300 (3) (35) 332 Fair value as of March 30, 2024 $ 201 $ 4,900 $ 10 $ 44 $ 5,155

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Mar. 30, 2024
Segment Reporting [Abstract]
Revenues and Income from Operations for Reportable Segments	The table below presents revenues and income from operations for our reportable segments for the thirteen weeks ended March 30, 2024 and thirteen weeks ended April 1, 2023. Thirteen Weeks Ended Thirteen Weeks Ended Revenues Hardware and Protective Solutions $ 259,874 $ 253,851 Robotics and Digital Solutions 55,472 61,066 Canada 34,959 34,790 Total revenues $ 350,305 $ 349,707 Segment Income from Operations Hardware and Protective Solutions $ 9,248 $ (3,836) Robotics and Digital Solutions 5,757 4,462 Canada 1,299 463 Total segment income from operations $ 16,304 $ 1,089

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 350,305	$ 349,707
Fastening and Hardware
Disaggregation of Revenue [Line Items]
Net sales	245,979	236,195
Personal Protection Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	46,892	50,490
Key and Key Accessories [Member]
Disaggregation of Revenue [Line Items]
Net sales	45,589	50,489
Engraving [Member]
Disaggregation of Revenue [Line Items]
Net sales	11,845	12,533
Hardware and Protective Solutions
Disaggregation of Revenue [Line Items]
Net sales	259,874	253,851
Hardware and Protective Solutions \| Fastening and Hardware
Disaggregation of Revenue [Line Items]
Net sales	214,390	204,974
Hardware and Protective Solutions \| Personal Protection Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	45,484	48,877
Hardware and Protective Solutions \| Key and Key Accessories [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Hardware and Protective Solutions \| Engraving [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Robotics and Digital Solutions
Disaggregation of Revenue [Line Items]
Net sales	55,472	61,066
Robotics and Digital Solutions \| Fastening and Hardware
Disaggregation of Revenue [Line Items]
Net sales	0	0
Robotics and Digital Solutions \| Personal Protection Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Robotics and Digital Solutions \| Key and Key Accessories [Member]
Disaggregation of Revenue [Line Items]
Net sales	43,637	48,548
Robotics and Digital Solutions \| Engraving [Member]
Disaggregation of Revenue [Line Items]
Net sales	11,835	12,518
Canada
Disaggregation of Revenue [Line Items]
Net sales	34,959	34,790
Canada \| Fastening and Hardware
Disaggregation of Revenue [Line Items]
Net sales	31,589	31,221
Canada \| Personal Protection Solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,408	1,613
Canada \| Key and Key Accessories [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,952	1,941
Canada \| Engraving [Member]
Disaggregation of Revenue [Line Items]
Net sales	10	15
United States
Disaggregation of Revenue [Line Items]
Net sales	310,964	310,534
United States \| Hardware and Protective Solutions
Disaggregation of Revenue [Line Items]
Net sales	255,492	249,468
United States \| Robotics and Digital Solutions
Disaggregation of Revenue [Line Items]
Net sales	55,472	61,066
United States \| Canada
Disaggregation of Revenue [Line Items]
Net sales	0	0
Canada
Disaggregation of Revenue [Line Items]
Net sales	34,959	34,790
Canada \| Hardware and Protective Solutions
Disaggregation of Revenue [Line Items]
Net sales	0	0
Canada \| Robotics and Digital Solutions
Disaggregation of Revenue [Line Items]
Net sales	0	0
Canada \| Canada
Disaggregation of Revenue [Line Items]
Net sales	34,959	34,790
Mexico
Disaggregation of Revenue [Line Items]
Net sales	4,382	4,383
Mexico \| Hardware and Protective Solutions
Disaggregation of Revenue [Line Items]
Net sales	4,382	4,383
Mexico \| Robotics and Digital Solutions
Disaggregation of Revenue [Line Items]
Net sales	0	0
Mexico \| Canada
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Apr. 01, 2023	Jan. 11, 2024	Dec. 30, 2023	Dec. 05, 2023
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 23,956	$ 300
Goodwill	828,279			$ 825,042
Ajustlock
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation					$ 1,400
Payments to Acquire Businesses, Net of Cash Acquired	$ 100
Koch
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation			$ 23,956
Accounts receivable			20,194
Other current assets			275
Property and equipment			586
Goodwill			3,821
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Assets Acquired Including Goodwill			28,576
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities			(4,620)
Total purchase price			23,956
Koch \| Customer relationships
Business Acquisition [Line Items]
Intangible assets			3,400
Koch \| Trade names
Business Acquisition [Line Items]
Intangible assets			$ 300

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Goodwill Amounts by Operating Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 825,042
Dispositions	0
Other	(584)
Ending balance	828,279
Goodwill, Purchase Accounting Adjustments	3,821
Hardware and Protective Solutions
Goodwill [Roll Forward]
Beginning balance	575,298
Acquisitions	3,821
Dispositions	0
Other	105
Ending balance	579,224
Robotics and Digital Solutions
Goodwill [Roll Forward]
Beginning balance	220,936
Acquisitions	0
Dispositions	0
Other	0
Ending balance	220,936
Canada
Goodwill [Roll Forward]
Beginning balance	28,808
Acquisitions	0
Dispositions	0
Other	(689)
Ending balance	$ 28,119

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Components of Other Intangibles, Net (Detail) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 1,129,110	$ 1,126,084
Less: Accumulated amortization	485,751	470,791
Other intangibles, net	643,359	655,293
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite Intangible assets, gross	85,387	85,520
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 947,517	944,713
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	13 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	20 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 29,449	31,665
Trademarks \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	7 years
Trademarks \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	15 years
Technology and patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 66,757	$ 64,186
Technology and patents \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Technology and patents \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	12 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 15,254	$ 15,572

Commitments and Contingencies (

Commitments and Contingencies (Detail) $ in Thousands	3 Months Ended
Commitments and Contingencies (Detail) $ in Thousands	Mar. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Losses up to per occurrence related to product liability, automotive and workers' compensation	$ 500
Letters of credit, outstanding	40,890
Maximum
Loss Contingencies [Line Items]
Occurrences in excess for purchased catastrophic coverage	60,000
Insurance Claims
Loss Contingencies [Line Items]
Liability recorded for such risk insurance reserves	2,593
Group Health Insurance Claims
Loss Contingencies [Line Items]
Losses up to per occurrence related to product liability, automotive and workers' compensation	300
Liability recorded for such risk insurance reserves	$ 3,001

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Ollies Bargain Outlet Sales [Member]
Related Party Transaction [Line Items]
Related Part Transaction, Sales to Related Party	$ 18	$ 265

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Apr. 01, 2023
Income Tax Disclosure [Abstract]
Effective income tax rates	24.50%	46.20%
Income tax benefit	$ (483)	$ (7,856)

Long Term Debt - Summary of Lon

Long Term Debt - Summary of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Debt Instrument [Line Items]
Finance Lease, Liability, and Other Obligations	$ 10,453	$ 9,097
Long-term debt, capital and finance leases	778,178	760,949
Unamortized discount on Senior Term Loan	(3,549)	(4,087)
Current portion of long-term debt and finance leases	(10,061)	(9,952)
Deferred financing fees	(13,253)	(15,202)
Long-term debt	751,315	731,708
Revolving loans
Debt Instrument [Line Items]
Long-term debt, gross	18,000	0
Term loans \| Senior Term Loan, due 2028
Debt Instrument [Line Items]
Long-term debt, gross	$ 749,725	$ 751,852

Long Term Debt - Narrative (Det

Long Term Debt - Narrative (Detail) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Debt Instrument [Line Items]
Letters of credit, outstanding	$ 40,890
Discount	3,549	$ 4,087
Term loans \| Senior Term Loan, due 2028
Debt Instrument [Line Items]
Long-term debt, gross	749,725	751,852
Revolving loans
Debt Instrument [Line Items]
Long-term debt, gross	18,000	$ 0
Remaining borrowing capacity	$ 211,619

Long Term Debt - (Loss) Gain on

Long Term Debt - (Loss) Gain on Extinguishment of Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Debt Instrument [Line Items]
Loss on debt restructuring	$ (3,008)	$ 0
Financing fees	$ (33)	$ 0

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Apr. 01, 2023
Leases [Abstract]
Operating lease costs	$ 5,214	$ 5,447
Short term lease costs	1,231	1,349
Variable lease costs	517	335
Finance lease costs:
Amortization of right of use assets	939	505
Interest on lease liabilities	$ 128	$ 36

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Apr. 01, 2023
Leases [Abstract]
Rent expense	$ 6,962	$ 7,131

Leases - Weighted Average Assum

Leases - Weighted Average Assumptions (Details)	Mar. 30, 2024	Dec. 30, 2023
Leases [Abstract]
Operating leases, weighted average remaining term	6 years 25 days	6 years 3 months 29 days
Finance lease, weighted average remaining term	3 years 21 days	2 years 11 months 12 days
Operating lease, weighted average discount rate	6.95%	7.04%
Finance lease, weighted average discount rate	5.64%	5.38%

Leases - Finance Lease Balance

Leases - Finance Lease Balance Sheet Locations (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Leases [Abstract]
Finance lease assets, net, included in property plant and equipment	$ 8,835	$ 7,166
Current portion of long-term debt	3,288	2,800
Long-term debt, less current portion	5,759	4,512
Total principal payable on finance leases	$ 9,047	$ 7,312

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflow from operating leases	$ 5,270	$ 4,872
Operating cash outflow from finance leases	124	34
Financing cash outflow from finance leases	$ 875	$ 494

Leases - Lease Maturities (Deta

Leases - Lease Maturities (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Operating Leases
Less than one year	$ 21,134
1 to 2 years	20,312
2 to 3 years	19,475
3 to 4 years	17,079
4 to 5 years	14,482
After 5 years	22,363
Total future minimum rental commitments	114,845
Less - amounts representing interest	(20,705)
Present value of lease liabilities	94,140
Finance Leases
Less than one year	3,717
1 to 2 years	3,053
2 to 3 years	1,962
3 to 4 years	876
4 to 5 years	272
After 5 years	11
Total future minimum rental commitments	9,891
Less - amounts representing interest	(844)
Present value of lease liabilities	$ 9,047	$ 7,312

Equity and Accumulated Other _2

Equity and Accumulated Other Comprehensive Income (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 30, 2024	Dec. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 1,154,529,000	$ 1,156,739,000
Other comprehensive income before reclassifications	(4,517,000)	8,812,000
Amounts reclassified from other comprehensive income	4,187,000	(15,608,000)
Net current period other comprehensive income (1)	(330,000)	(6,796,000)
Ending balance	1,161,292,000	1,154,529,000
Deferred gain	(6,613,000)	125
Reclassified loss	4,187,000	15,608
Tax provision	(609,000)	3,886
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(27,820,000)	(21,024,000)
Ending balance	$ (28,150,000)	$ (27,820,000)

Stock Based Compensation - Narr

Stock Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Jul. 14, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from exercise of stock options	$ 5,899	$ 0
2014 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized			14,523,510
Stock compensation expense	$ 407	1,291
Stock Options Exercised	847,779
2014 Equity Incentive Plan \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
2014 Equity Incentive Plan \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized			7,150,814
Stock compensation expense	$ 2,303	1,266
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 119	$ 80

Earnings Per Share - Computatio

Earnings Per Share - Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Earnings Per Share [Abstract]
Earnings, basic	$ (1,492)	$ (9,132)
Earnings, diluted	$ (1,492)	$ (9,132)
Weighted average basic shares outstanding	195,365	194,548
Dilutive effect of stock options (in shares)	0	0
Weighted Average Number of Shares Outstanding, Diluted, Total	195,365	194,548
Basic income (loss) per share (in usd per share)	$ (0.01)	$ (0.05)
Diluted income (loss) per share (in usd per share)	$ (0.01)	$ (0.05)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
Earnings Per Share - Narrative (Details) - shares	Mar. 30, 2024	Apr. 01, 2023
Stock options and awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	2,976,000	9,618,000

Derivatives and Hedging - Narra

Derivatives and Hedging - Narrative (Details) - USD ($) $ in Thousands	Dec. 19, 2023	Nov. 08, 2018	Jan. 08, 2018
2021 Swap 1
Derivative [Line Items]
Notional amount			$ 144
Fixed interest rate			0.74%
2021 Swap 2
Derivative [Line Items]
Notional amount		$ 216
Fixed interest rate		0.74%
Interest Rate Swap Agreement - 2024 Swap 1
Derivative [Line Items]
Notional amount	$ 144
Fixed interest rate	3.80%
Interest Rate Swap Agreement - 2024 Swap 2
Derivative [Line Items]
Notional amount	$ 216
Fixed interest rate	3.62%

Derivatives and Hedging - Deriv

Derivatives and Hedging - Derivative Financial Instruments (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Derivative assets	$ 8,690	$ 9,539
Derivative liabilities	0	(3,273)
2021 Swap 1 \| Other current/other non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets	2,179	3,560
2021 Swap 1 \| Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	0
2021 Swap 2 \| Other current/other non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets	3,266	5,336
2021 Swap 2 \| Other accrued expenses
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	0
Interest Rate Swap Agreement - 2024 Swap 1 \| Other current/other non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets	938	207
Interest Rate Swap Agreement - 2024 Swap 1 \| Other Accrued Expenses And Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	(1,613)
Interest Rate Swap Agreement - 2024 Swap 2 \| Other current/other non-current assets
Derivatives, Fair Value [Line Items]
Derivative assets	2,307	436
Interest Rate Swap Agreement - 2024 Swap 2 \| Other Accrued Expenses And Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 0	$ (1,660)

Fair Value Measurements - Measu

Fair Value Measurements - Measurement of Assets and Liabilities at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments of contingent consideration	$ (72)	$ (1,079)
Change in fair value of contingent consideration	332	$ 1,715
Other accrued expenses \| Instafob
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, current	10		$ 16
Payments of contingent consideration	(3)
Change in fair value of contingent consideration	(3)
Other accrued expenses \| Resharp [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, current	201		200
Payments of contingent consideration	(69)
Change in fair value of contingent consideration	70
Other non-current liabilities \| Instafob
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, non-current	44		79
Payments of contingent consideration	0
Change in fair value of contingent consideration	(35)
Other non-current liabilities \| Resharp [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, non-current	4,900		4,600
Payments of contingent consideration	0
Change in fair value of contingent consideration	300
Fair Value Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	875		818
Business Combination, Contingent Consideration, Liability	5,155		4,895
Fair Value Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	875		818
Business Combination, Contingent Consideration, Liability	0		0
Fair Value Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0		0
Business Combination, Contingent Consideration, Liability	0		0
Fair Value Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	0		0
Business Combination, Contingent Consideration, Liability	5,155		4,895
Interest rate swaps \| Fair Value Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	8,690		6,266
Interest rate swaps \| Fair Value Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	0		0
Interest rate swaps \| Fair Value Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	8,690		6,266
Interest rate swaps \| Fair Value Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability	$ 0		$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of contingent consideration	$ 332	$ 1,715
Payment for Contingent Consideration Liability, Financing Activities	72	$ 1,079
Other accrued expenses \| Instafob
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, current	10		$ 16
Change in fair value of contingent consideration	(3)
Payment for Contingent Consideration Liability, Financing Activities	3
Other accrued expenses \| Resharp [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, current	201		200
Change in fair value of contingent consideration	70
Payment for Contingent Consideration Liability, Financing Activities	69
Other non-current liabilities \| Instafob
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, non-current	44		79
Change in fair value of contingent consideration	(35)
Payment for Contingent Consideration Liability, Financing Activities	0
Other non-current liabilities \| Resharp [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, non-current	4,900		$ 4,600
Change in fair value of contingent consideration	300
Payment for Contingent Consideration Liability, Financing Activities	$ 0

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	3 Months Ended
Segment Reporting - Narrative (Details)	Mar. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Revenues an

Segment Reporting - Revenues and Income from Operations for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Revenues
Net sales	$ 350,305	$ 349,707
Segment Income from Operations
Total segment income from operations	16,304	1,089
Hardware and Protective Solutions
Revenues
Net sales	259,874	253,851
Segment Income from Operations
Total segment income from operations	9,248	(3,836)
Robotics and Digital Solutions
Revenues
Net sales	55,472	61,066
Segment Income from Operations
Total segment income from operations	5,757	4,462
Canada
Revenues
Net sales	34,959	34,790
Segment Income from Operations
Total segment income from operations	$ 1,299	$ 463