Pay vs Performance Disclosure
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12 Months Ended |
Dec. 31, 2023
USD ($)
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Dec. 31, 2022
USD ($)
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Dec. 31, 2021
USD ($)
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Dec. 31, 2020
USD ($)
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Pay vs Performance Disclosure |
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Pay vs Performance Disclosure, Table |
| Year (a) | | | Summary Compensation Table (“SCT”) Total for Stephen Bratspies(1) ($) (b) | | | Compensation Actually Paid to Stephen Bratspies(1)(2)(3) ($) (c) | | | SCT Total for Gerald W. Evans, Jr.(1) ($) (b) | | | Compensation Actually Paid to Gerald W. Evans, Jr.(1)(2)(3) ($) (c) | | | Average SCT Total for Non-PEO NEOs(1) ($) (d) | | | Average Compensation Actually Paid to Non-PEO NEOs(1)(2)(3) ($) (e) | | | Value of Initial Fixed $100 Investment based on:(4) | | | Net Income ($ Millions) (h) | | | Net Organic Sales(5) ($ Millions) (i) | | | TSR ($) (f) | | | Peer Group TSR ($) (g) | | | 2023 | | | | | 9,814,076 | | | | | | 5,413,551 | | | | | | — | | | | | | — | | | | | | 2,105,256 | | | | | | 1,310,293 | | | | | | 34.57 | | | | | | 71.93 | | | | | | (17.7) | | | | | | 5,645 | | | | 2022 | | | | | 9,219,614 | | | | | | (2,040,239) | | | | | | — | | | | | | — | | | | | | 2,482,996 | | | | | | 608,021 | | | | | | 49.30 | | | | | | 67.96 | | | | | | (127.2) | | | | | | 6,178 | | | | 2021 | | | | | 11,031,249 | | | | | | 15,420,100 | | | | | | — | | | | | | — | | | | | | 2,635,061 | | | | | | 3,264,430 | | | | | | 122.09 | | | | | | 104.02 | | | | | | 77.2 | | | | | | 6,745 | | | | 2020 | | | | | 4,829,065 | | | | | | 3,570,261 | | | | | | 9,469,457 | | | | | | 6,310,590 | | | | | | 2,249,254 | | | | | | 1,760,286 | | | | | | 103.10 | | | | | | 92.47 | | | | | | (75.6) | | | | | | 6,087 | | |
(1)
Stephen Bratspies was our PEO from August 3, 2020 to present. Gerald W. Evans, Jr. was our PEO until August 2, 2020. The individuals comprising the Non-PEO NEOs for each year presented are listed below.
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2020
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2021
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2022
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2023
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M. Scott Lewis
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M. Scott Lewis
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Michael E. Faircloth
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M. Scott Lewis
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W. Howard Upchurch
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Michael E. Faircloth
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Michael P. Dastugue
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Michael P. Dastugue
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Joia M. Johnson
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Michael P. Dastugue
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Joseph W. Cavaliere
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Joseph W. Cavaliere
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Michael E. Faircloth
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Joseph W. Cavaliere
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Kristin L. Oliver
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Vanessa LeFebvre
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Jonathan Ram
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Michael E. Faircloth
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(2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K, and therefore use hypothetical values and points in time when pay may not actually have been earned by or delivered to the NEOs. These amounts reflect total compensation as reported in the Summary Compensation Table with certain adjustments (which are described in footnote 3 below with respect to 2023).
(3)
Compensation Actually Paid for fiscal 2023 reflects the exclusions and inclusions of certain amounts for the PEOs and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. For unvested awards subject to performance-based vesting conditions, the fair values were based on the probable outcome of such performance-based vesting conditions as of the last day of the applicable year. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year.
Stephen Bratspies
| Year | | | Summary Compensation Table Total ($) | | | Exclusion of Change in Pension Value ($) | | | Exclusion of Stock Awards and Option Awards ($) | | | Inclusion of Pension Service Cost ($) | | | Inclusion of Equity Values ($) | | | Compensation Actually Paid ($) | | | 2023 | | | | | 9,814,076 | | | | | | — | | | | | | (7,749,995) | | | | | | — | | | | | | 3,349,469 | | | | | | 5,413,551 | | |
Non-PEO NEOs (Average)
| Year | | | Average Summary Compensation Table Total ($) | | | Average Exclusion of Change in Pension Value ($) | | | Average Exclusion of Stock Awards and Option Awards ($) | | | Average Inclusion of Pension Service Cost ($) | | | Average Inclusion of Equity Values ($) | | | Average Compensation Actually Paid ($) | | | 2023 | | | | | 2,105,256 | | | | | | (2,085) | | | | | | (1,213,898) | | | | | | — | | | | | | 421,020 | | | | | | 1,310,293 | | |
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Stephen Bratspies
| Year | | | Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year ($) | | | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards ($) | | | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year ($) | | | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year ($) | | | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year ($) | | | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included ($) | | | Total — Inclusion of Equity Values ($) | | | 2023 | | | | | 4,184,622 | | | | | | (1,075,604) | | | | | | — | | | | | | 240,451 | | | | | | — | | | | | | — | | | | | | 3,349,469 | | |
Non-PEO NEOs (Average)
| Year | | | Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year ($) | | | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards ($) | | | Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year ($) | | | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year ($) | | | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year ($) | | | Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included ($) | | | Total — Average Inclusion of Equity Values ($) | | | 2023 | | | | | 705,873 | | | | | | (96,930) | | | | | | — | | | | | | 20,494 | | | | | | (208,416) | | | | | | — | | | | | | 421,020 | | |
(4)
”TSR” stands for “total shareholder return.” The Peer Group TSR shown in this table utilizes the S&P 1500 Apparel, Accessories & Luxury Goods Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K, for the years reflected in the table above. The comparison assumes $100 was invested for the period starting December 28, 2019, through the end of the listed year in the Company and in the S&P 1500 Apparel, Accessories & Luxury Goods Index, respectively. The historical stock price performance of our common stock shown is not necessarily indicative of future stock price performance.
(5)
We determined net organic sales to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2023. This performance measure may not have been the most important financial performance measure for previous years, and we may determine a different financial performance measure to be the most important measure in future years. Net organic sales is a non-GAAP financial measure. For purposes of this disclosure, net organic sales was calculated substantially as described above in our Compensation Discussion and Analysis on page 52.
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Company Selected Measure Name |
Net Organic Sales
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Named Executive Officers, Footnote |
(1) Stephen Bratspies was our PEO from August 3, 2020 to present. Gerald W. Evans, Jr. was our PEO until August 2, 2020. The individuals comprising the Non-PEO NEOs for each year presented are listed below.
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2020
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2021
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2022
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2023
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M. Scott Lewis
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M. Scott Lewis
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Michael E. Faircloth
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M. Scott Lewis
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W. Howard Upchurch
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Michael E. Faircloth
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Michael P. Dastugue
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Michael P. Dastugue
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Joia M. Johnson
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Michael P. Dastugue
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Joseph W. Cavaliere
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Joseph W. Cavaliere
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Michael E. Faircloth
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Joseph W. Cavaliere
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Kristin L. Oliver
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Vanessa LeFebvre
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Jonathan Ram
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Michael E. Faircloth
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Peer Group Issuers, Footnote |
”TSR” stands for “total shareholder return.” The Peer Group TSR shown in this table utilizes the S&P 1500 Apparel, Accessories & Luxury Goods Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K, for the years reflected in the table above. The comparison assumes $100 was invested for the period starting December 28, 2019, through the end of the listed year in the Company and in the S&P 1500 Apparel, Accessories & Luxury Goods Index, respectively. The historical stock price performance of our common stock shown is not necessarily indicative of future stock price performance.
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Adjustment To PEO Compensation, Footnote |
(3)
Compensation Actually Paid for fiscal 2023 reflects the exclusions and inclusions of certain amounts for the PEOs and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. For unvested awards subject to performance-based vesting conditions, the fair values were based on the probable outcome of such performance-based vesting conditions as of the last day of the applicable year. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year.
Stephen Bratspies | Year | | | Summary Compensation Table Total ($) | | | Exclusion of Change in Pension Value ($) | | | Exclusion of Stock Awards and Option Awards ($) | | | Inclusion of Pension Service Cost ($) | | | Inclusion of Equity Values ($) | | | Compensation Actually Paid ($) | | | 2023 | | | | | 9,814,076 | | | | | | — | | | | | | (7,749,995) | | | | | | — | | | | | | 3,349,469 | | | | | | 5,413,551 | | | The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables: Stephen Bratspies | Year | | | Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year ($) | | | Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards ($) | | | Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year ($) | | | Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year ($) | | | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year ($) | | | Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included ($) | | | Total — Inclusion of Equity Values ($) | | | 2023 | | | | | 4,184,622 | | | | | | (1,075,604) | | | | | | — | | | | | | 240,451 | | | | | | — | | | | | | — | | | | | | 3,349,469 | | |
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Non-PEO NEO Average Total Compensation Amount |
$ 2,105,256
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$ 2,482,996
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$ 2,635,061
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$ 2,249,254
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Non-PEO NEO Average Compensation Actually Paid Amount |
$ 1,310,293
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608,021
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3,264,430
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1,760,286
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Adjustment to Non-PEO NEO Compensation Footnote |
(3)
Compensation Actually Paid for fiscal 2023 reflects the exclusions and inclusions of certain amounts for the PEOs and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. For unvested awards subject to performance-based vesting conditions, the fair values were based on the probable outcome of such performance-based vesting conditions as of the last day of the applicable year. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year.
Non-PEO NEOs (Average) | Year | | | Average Summary Compensation Table Total ($) | | | Average Exclusion of Change in Pension Value ($) | | | Average Exclusion of Stock Awards and Option Awards ($) | | | Average Inclusion of Pension Service Cost ($) | | | Average Inclusion of Equity Values ($) | | | Average Compensation Actually Paid ($) | | | 2023 | | | | | 2,105,256 | | | | | | (2,085) | | | | | | (1,213,898) | | | | | | — | | | | | | 421,020 | | | | | | 1,310,293 | | | Non-PEO NEOs (Average) | Year | | | Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year ($) | | | Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards ($) | | | Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year ($) | | | Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year ($) | | | Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year ($) | | | Average Value of Dividends or Other Earnings Paid on Equity Awards Not Otherwise Included ($) | | | Total — Average Inclusion of Equity Values ($) | | | 2023 | | | | | 705,873 | | | | | | (96,930) | | | | | | — | | | | | | 20,494 | | | | | | (208,416) | | | | | | — | | | | | | 421,020 | | |
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Compensation Actually Paid vs. Total Shareholder Return |
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Compensation Actually Paid vs. Net Income |
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Compensation Actually Paid vs. Company Selected Measure |
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Total Shareholder Return Vs Peer Group |
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Tabular List, Table |
Tabular List of Most Important Financial and Non-Financial Performance Measures
The following table presents the financial and non-financial performance measures that the Company considers to have been the most important in linking Compensation Actually Paid to our PEOs and Non-PEO NEOs for 2023 to Company performance. The measures in this table are not ranked.
| | Adjusted EPS | | | | | Adjusted Operating Income | | | | | Cash Flow from Operations | | | | | Net Inventory | | | | | Net Organic Sales | | |
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Total Shareholder Return Amount |
$ 34.57
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49.3
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122.09
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103.1
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Peer Group Total Shareholder Return Amount |
71.93
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67.96
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104.02
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92.47
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Net Income (Loss) |
$ (17.7)
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$ (127.2)
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$ 77.2
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$ (75.6)
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Company Selected Measure Amount |
5,645
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6,178
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6,745
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6,087
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PEO Name |
Stephen Bratspies
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Measure:: 1 |
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Pay vs Performance Disclosure |
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Name |
Adjusted EPS
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Measure:: 2 |
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Pay vs Performance Disclosure |
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Name |
Adjusted Operating Income
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Measure:: 3 |
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Pay vs Performance Disclosure |
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Name |
Cash Flow from Operations
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Measure:: 4 |
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Pay vs Performance Disclosure |
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Name |
Net Inventory
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Measure:: 5 |
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Pay vs Performance Disclosure |
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Name |
Net Organic Sales
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Non-GAAP Measure Description |
(5)
We determined net organic sales to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2023. This performance measure may not have been the most important financial performance measure for previous years, and we may determine a different financial performance measure to be the most important measure in future years. Net organic sales is a non-GAAP financial measure. For purposes of this disclosure, net organic sales was calculated substantially as described above in our Compensation Discussion and Analysis on page 52.
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Stephen Bratspies [Member] |
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Pay vs Performance Disclosure |
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PEO Total Compensation Amount |
$ 9,814,076
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$ 9,219,614
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$ 11,031,249
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$ 4,829,065
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PEO Actually Paid Compensation Amount |
5,413,551
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(2,040,239)
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15,420,100
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3,570,261
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Gerald W. Evans, Jr [Member] |
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Pay vs Performance Disclosure |
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PEO Total Compensation Amount |
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9,469,457
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PEO Actually Paid Compensation Amount |
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$ 6,310,590
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PEO | Stephen Bratspies [Member] | Pension Adjustments Pension Value In Summary Compensation Table [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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PEO | Stephen Bratspies [Member] | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(7,749,995)
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PEO | Stephen Bratspies [Member] | Pension Adjustments Service Cost [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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PEO | Stephen Bratspies [Member] | Total Equity Awards Adjustments [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
3,349,469
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PEO | Stephen Bratspies [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
4,184,622
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PEO | Stephen Bratspies [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(1,075,604)
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PEO | Stephen Bratspies [Member] | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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PEO | Stephen Bratspies [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
240,451
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PEO | Stephen Bratspies [Member] | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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PEO | Stephen Bratspies [Member] | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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Non-PEO NEO | Pension Adjustments Pension Value In Summary Compensation Table [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(2,085)
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Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(1,213,898)
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Non-PEO NEO | Pension Adjustments Service Cost [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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Non-PEO NEO | Total Equity Awards Adjustments [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
421,020
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Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
705,873
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Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(96,930)
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Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
20,494
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Non-PEO NEO | Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
(208,416)
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Non-PEO NEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member] |
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Pay vs Performance Disclosure |
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Adjustment to Compensation, Amount |
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