4 unchanged sentences
Future declaration and payment of dividends is at the discretion of our Board, and depends upon, among other things, our investment policy and opportunities, results of operations, financial condition, cash requirements, future prospects, and other factors that may be considered relevant by our Board at the time of its determination.
−Removed: Such other factors include limitations contained in the agreement for our Syndicated Credit Facility, which specifies conditions as to when any dividend payments may be made.
+Added: Such other factors include limitations contained in the agreement for our Syndicated Credit Facility and the indenture for our Senior Notes, each of which specify conditions as to when any dividend payments may be made.
As such, we may discontinue our dividend payments in the future if our Board determines that a cessation of dividend payments is proper in light of the factors indicated above.
Stock Performance
−Removed: The following graph and table compare, for the five-year period ended December 29, 2019, the Company’s total returns to shareholders (stock price plus dividends, divided by beginning stock price) with that of (i) all companies listed on the Nasdaq Composite Index and (ii) our self-determined peer group, assuming an initial investment of $100 in each on December 28, 2014 (the last day of the fiscal year 2014).
+Added: The following graph and table compare, for the five-year period ended January 3, 2021, the Company’s total returns to shareholders (assuming all dividends were reinvested) with that of (i) all companies listed on the Nasdaq Composite Index and (ii) our self-determined peer group, assuming an initial investment of $100 in each on January 3, 2016 (the last day of the fiscal year 2015).
In determining its peer group companies, the Company considered various factors, including the potential peer’s industry, business model, size and complexity.
The Company chose a peer group that it believes provides a robust sample size with minimal revenue dispersion, with companies in similar industries or lines of business or subject to similar economic and business cycles, including companies with a significant international presence that are also focused on sustainability.
+Added: January 3, 2016 January 1, 2017 December 31, 2017 December 30, 2018 December 29, 2019 January 3, 2021
Interface, Inc.
+Added: $100 $98 $134 $77 $91 $58
NASDAQ Composite Index $100 $109 $141 $136 $188 $271
1 unchanged sentence
Notes to Performance Graph
−Removed: The lines represent annual index levels derived from compound daily returns that include all dividends.
−Removed: The indices are re-weighted daily, using the market capitalization on the previous trading day.
(1) If the annual interval, based on the fiscal year-end, is not a trading day, the preceding trading day is used.
−Removed: The index level was set to $100 as of December 28, 2014 (the last day of fiscal year 2014).
+Added: (2) The index level was set to $100 as of January 3, 2016 (the last day of fiscal year 2015).
(3) The Company’s fiscal year ends on the Sunday nearest December 31.
21 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: The following table contains information with respect to purchases made by or on behalf of the Company, or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of our common stock during our fourth quarter ended December 29, 2019 :
+Added: The following table contains information with respect to purchases made by or on behalf of the Company, or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of our common stock during our fourth quarter ended January 3, 2021:
+Added: Purchased Average
+Added: Per Share Total Number
of Shares Purchased
1 unchanged sentence
Announced Plans or
−Removed: Approximate Dollar
+Added: Programs Approximate Dollar
Value of Shares that
1 unchanged sentence
Plans or Programs
−Removed: September 30 - October 31, 2019
−Removed: November 1 – 30, 2019 (2)
−Removed: December 1 – 29, 2019 (2)
−Removed: The monthly periods identified above correspond to the Company’s fiscal fourth quarter of 2019 , which commenced September 30, 2019 and ended December 29, 2019.
−Removed: Includes shares acquired by the Company from employees to satisfy income tax withholding obligations in connection with the vesting of previous equity awards.
+Added: October 5 – November 1, 2020 (2)
+Added: 49 $ 6.90 — $ —
+Added: November 2 – December 6, 2020 (2)
+Added: December 7, 2020 – January 3, 2021 (2)
+Added: 2,024 10.50 — —
+Added: Total 2,761 $ 9.86 — $ —
+Added: (1) The monthly periods identified above correspond to the Company’s fiscal fourth quarter of 2020, which commenced October 5, 2020 and ended January 3, 2021.
+Added: (2) Represents shares acquired by the Company from employees to satisfy income tax withholding obligations in connection with the vesting of previous equity awards.
SELECTED FINANCIAL DATA
−Removed: We derived the summary consolidated financial data presented below from our audited consolidated financial statements and the notes thereto for the years indicated.
−Removed: You should read the summary financial data presented below together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the audited consolidated financial statements and notes thereto included within this document.
−Removed: Amounts for all periods presented have been adjusted for discontinued operations.
−Removed: Cost of sales
−Removed: Operating income (1)
−Removed: Net income (2)
−Removed: Income from continuing operations per common share attributable to Interface, Inc.
−Removed: Average Shares Outstanding
−Removed: Cash dividends per common share
−Removed: Property additions
−Removed: Depreciation and amortization
−Removed: Working capital
−Removed: Total long-term debt
−Removed: Shareholders’ equity
−Removed: Current ratio (4)
−Removed: The following charges and items are included in our operating income.
−Removed: In 2019 we recorded restructuring and other charges of $12.9 million and purchase accounting amortization of $5.9 million.
−Removed: In 2018, we recorded restructuring and asset impairment charges of $20.5 million, purchase accounting amortization of $32.1 million in connection with the nora acquisition, and nora transaction costs of $5.3 million.
−Removed: In 2017, we recorded restructuring and asset impairment charges of $7.3 million.
−Removed: In 2016, we recorded restructuring and asset impairment charges of $19.8 million.
−Removed: Included in 2018 net income are tax benefits of $6.7 million due to the finalization of our analysis of the U.S.
−Removed: Tax Cuts and Jobs Act.
−Removed: Included in 2017 net income are provisional tax charges of $15.2 million due to the U.S.
−Removed: Tax Cuts and Jobs Act.
−Removed: Please see Item 8, Note 16 “ Income Taxes ” for further discussion of these charges.
−Removed: Also included in 2018 net income is $4.2 million in other expense for nora transaction costs.
−Removed: 2019 includes stock compensation amortization of $8.7 million and excludes purchase accounting amortization of $5.9 million.
−Removed: 2018 includes stock compensation amortization of $14.5 million and excludes purchase accounting amortization of $32.1 million.
−Removed: Current ratio is the ratio of current assets to current liabilities.
+Added: This item is no longer required, as we have elected to early adopt the changes to Item 301 of Regulation S-K contained in SEC Release No.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.