Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Jan. 25, 2014 | Jun. 29, 2013 | |
Entity Information [Line Items] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 28-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'IM | ' | ' |
Entity Registrant Name | 'INGRAM MICRO INC | ' | ' |
Entity Central Index Key | '0001018003 | ' | ' |
Current Fiscal Year End Date | '--12-28 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding (Class A) | ' | 154,558,016 | ' |
Entity Public Float | ' | ' | $2,799,244,706 |
CONSOLIDATED_BALANCE_SHEET
CONSOLIDATED BALANCE SHEET (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $674,390 | $595,147 |
Trade accounts receivable (less allowances of $69,533 and $78,034) | 5,454,832 | 5,457,299 |
Inventory | 3,724,447 | 3,591,543 |
Other current assets | 521,902 | 522,390 |
Total current assets | 10,375,571 | 10,166,379 |
Property and equipment, net | 488,699 | 481,324 |
Goodwill | 527,526 | 428,401 |
Intangible assets, net | 375,423 | 372,482 |
Other assets | 23,976 | 31,862 |
Total assets | 11,791,195 | 11,480,448 |
Current liabilities: | ' | ' |
Accounts payable | 6,175,604 | 6,065,159 |
Accrued expenses | 710,040 | 585,404 |
Short-term debt and current maturities of long-term debt | 48,772 | 111,268 |
Total current liabilities | 6,934,416 | 6,761,831 |
Long-term debt, less current maturities | 797,454 | 943,275 |
Other liabilities | 109,700 | 164,089 |
Total liabilities | 7,841,570 | 7,869,195 |
Commitments and contingencies (Note 10) | ' | ' |
Stockholders’ equity: | ' | ' |
Preferred Stock, $0.01 par value, 25,000 shares authorized; no shares issued and outstanding | ' | ' |
Additional paid-in capital | 1,413,949 | 1,361,650 |
Treasury stock, 37,521 and 38,029 shares in 2013 and 2012, respectively | -639,300 | -648,066 |
Retained earnings | 3,061,487 | 2,750,904 |
Accumulated other comprehensive income | 111,570 | 144,882 |
Total stockholders’ equity | 3,949,625 | 3,611,253 |
Total liabilities and stockholders’ equity | 11,791,195 | 11,480,448 |
Class A Common Stock | ' | ' |
Stockholders’ equity: | ' | ' |
Common Stock | 1,919 | 1,883 |
Total stockholders’ equity | 1,919 | 1,883 |
Class B Common Stock [Member] | ' | ' |
Stockholders’ equity: | ' | ' |
Common Stock | $0 | $0 |
CONSOLIDATED_BALANCE_SHEET_Par
CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowances for trade accounts receivable | $69,553 | $78,034 |
Preferred Stock, par value | $0.01 | $0.01 |
Preferred Stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Treasury stock, shares | 37,521,000 | 38,029,000 |
Class A Common Stock | ' | ' |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 500,000,000 | 500,000,000 |
Common Stock, shares issued | 191,877,000 | 188,349,000 |
Common Stock, shares outstanding | 154,356,000 | 150,320,000 |
Class B Common Stock [Member] | ' | ' |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 135,000,000 | 135,000,000 |
Common Stock, shares issued | 0 | 0 |
Common Stock, shares outstanding | 0 | 0 |
CONSOLIDATED_STATEMENT_OF_INCO
CONSOLIDATED STATEMENT OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $42,553,918 | $37,827,299 | $36,328,701 |
Cost of sales | 40,064,361 | 35,791,910 | 34,420,419 |
Gross profit | 2,489,557 | 2,035,389 | 1,908,282 |
Operating expenses: | ' | ' | ' |
Selling, general and administrative | 1,891,573 | 1,542,650 | 1,431,955 |
Amortization of intangible assets | 48,480 | 20,711 | 12,550 |
Reorganization costs | 34,629 | 9,676 | 5,131 |
Total operating expenses | 1,974,682 | 1,573,037 | 1,449,636 |
Income from operations | 514,875 | 462,352 | 458,646 |
Other expense (income): | ' | ' | ' |
Interest income | -7,652 | -10,216 | -5,673 |
Interest expense | 59,165 | 55,690 | 52,509 |
Net foreign currency exchange loss | 11,578 | 10,546 | 4,789 |
Loss from settlement of interest rate swap and senior unsecured term loan | 0 | 0 | 5,624 |
Other | 15,685 | 10,148 | 13,526 |
Total other expense (income) | 78,776 | 66,168 | 70,775 |
Income before income taxes | 436,099 | 396,184 | 387,871 |
Provision for income taxes | 125,516 | 90,275 | 143,631 |
Net income | $310,583 | $305,909 | $244,240 |
Basic earnings per share (in dollars per share) | $2.03 | $2.03 | $1.57 |
Diluted earnings per share (in dollars per share) | $1.99 | $1.99 | $1.53 |
CONSOLIDATED_STATEMENT_OF_COMP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $310,583 | $305,909 | $244,240 |
Other comprehensive income (loss), net of tax | ' | ' | ' |
Foreign currency translation adjustment | -33,312 | 31,216 | -63,601 |
Unrealized holding gain on interest rate swap agreement designated as a cash flow hedge | 0 | 0 | 9,254 |
Other comprehensive income (loss), net of tax | -33,312 | 31,216 | -54,347 |
Comprehensive income | $277,271 | $337,125 | $189,893 |
CONSOLIDATED_STATEMENT_OF_STOC
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $) | Total | Class A Common Stock | Additional Paid-in Capital | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
In Thousands, unless otherwise specified | ||||||
Beginning Balance at Jan. 01, 2011 | $3,241,182 | $1,825 | $1,259,406 | ($388,817) | $2,200,755 | $168,013 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Stock options exercised and shares issued under the stock plan, net of shares withheld for employee taxes | 33,171 | 26 | 33,145 | ' | ' | ' |
Income tax benefits for stock plan awards | 3,625 | ' | 3,625 | ' | ' | ' |
Stock-based compensation expense | 30,811 | ' | 30,811 | ' | ' | ' |
Repurchase of Class A Common Stock | -225,905 | ' | ' | -225,905 | ' | ' |
Issuance of treasury shares, net of shares withheld for employee taxes | 10,391 | ' | -10,391 | 10,391 | ' | ' |
Comprehensive income | 189,893 | ' | ' | ' | 244,240 | -54,347 |
Ending Balance at Dec. 31, 2011 | 3,272,777 | 1,851 | 1,316,596 | -604,331 | 2,444,995 | 113,666 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Stock options exercised and shares issued under the stock plan, net of shares withheld for employee taxes | 18,323 | 32 | 18,291 | ' | ' | ' |
Income tax benefits for stock plan awards | 5,810 | ' | 5,810 | ' | ' | ' |
Stock-based compensation expense | 27,218 | ' | 27,218 | ' | ' | ' |
Repurchase of Class A Common Stock | -50,000 | ' | ' | -50,000 | ' | ' |
Issuance of treasury shares, net of shares withheld for employee taxes | 6,265 | ' | -6,265 | 6,265 | ' | ' |
Comprehensive income | 337,125 | ' | ' | ' | 305,909 | 31,216 |
Ending Balance at Dec. 29, 2012 | 3,611,253 | 1,883 | 1,361,650 | -648,066 | 2,750,904 | 144,882 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Stock options exercised and shares issued under the stock plan, net of shares withheld for employee taxes | 30,339 | 36 | 30,303 | ' | ' | ' |
Income tax benefits for stock plan awards | 422 | ' | 422 | ' | ' | ' |
Stock-based compensation expense | 30,340 | ' | 30,340 | ' | ' | ' |
Issuance of treasury shares, net of shares withheld for employee taxes | 8,766 | ' | -8,766 | 8,766 | ' | ' |
Comprehensive income | 277,271 | ' | ' | ' | 310,583 | -33,312 |
Ending Balance at Dec. 28, 2013 | $3,949,625 | $1,919 | $1,413,949 | ($639,300) | $3,061,487 | $111,570 |
CONSOLIDATED_STATEMENT_OF_CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $310,583 | $305,909 | $244,240 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 128,915 | 70,416 | 57,282 |
Stock-based compensation | 30,340 | 27,218 | 30,811 |
Excess tax benefit from stock-based compensation | -1,944 | -6,252 | -3,133 |
Loss from settlement of interest rate swap and senior unsecured term loan | 0 | 0 | 5,624 |
Loss on disposal of property and equipment | 8,399 | 0 | 0 |
Gain on sale of land and building | -1,045 | 0 | -474 |
Noncash charges for interest and bond discount amortization | 2,554 | 2,017 | 2,065 |
Deferred income taxes | -33,087 | -5,917 | 28,825 |
Changes in operating assets and liabilities, net of effects of acquisitions: | ' | ' | ' |
Trade accounts receivable | -66,400 | -438,642 | -425,690 |
Inventory | 159,779 | 200,351 | 79,137 |
Other current assets | -13,654 | 22,552 | 53,947 |
Accounts payable | 234,913 | 468,961 | 407,477 |
Change in book overdrafts | -67,370 | -95,965 | -5,935 |
Accrued expenses | 93,615 | -104,225 | -20,043 |
Cash provided by operating activities | 466,040 | 45,721 | 295,859 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -95,639 | -92,300 | -122,188 |
Sale of (investment in) marketable trading securities, net | 1,877 | 2,735 | -1,426 |
Proceeds from sale of land and building | 1,169 | 0 | 1,100 |
Acquisitions and earn-out payments, net of cash acquired | -135,763 | -899,464 | -2,106 |
Cash used by investing activities | -228,356 | -989,029 | -124,620 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from exercise of stock options | 43,384 | 31,335 | 39,465 |
Repurchase of Class A Common Stock | 0 | -50,000 | -225,905 |
Excess tax benefit from stock-based compensation | 1,944 | 6,252 | 3,133 |
Net proceeds from issuance of senior unsecured notes | 0 | 296,256 | 0 |
Repayment of senior unsecured term loan | 0 | 0 | -239,752 |
Fees associated with the amendment and extension of credit facilities | -1,086 | 0 | 0 |
Net proceeds (repayments) on revolving credit facilities | -195,729 | 355,918 | 9,017 |
Other | -4,423 | 0 | 0 |
Cash provided (used) by financing activities | -155,910 | 639,761 | -414,042 |
Effect of exchange rate changes on cash and cash equivalents | -2,531 | 7,291 | -21,345 |
Increase (decrease) in cash and cash equivalents | 79,243 | -296,256 | -264,148 |
Cash and cash equivalents, beginning of year | 595,147 | 891,403 | 1,155,551 |
Cash and cash equivalents, end of year | 674,390 | 595,147 | 891,403 |
Cash payments during the year: | ' | ' | ' |
Interest | 57,492 | 53,286 | 51,703 |
Income taxes | $144,978 | $103,616 | $110,336 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 12 Months Ended |
Dec. 28, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization and Basis of Presentation | ' |
Organization and Basis of Presentation | |
Ingram Micro Inc. and its subsidiaries are primarily engaged in the distribution of information technology (“IT”) products, supply chain services and mobile device lifecycle services worldwide. Ingram Micro Inc. and its subsidiaries operate in North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. Beginning in 2012, we added a reportable segment for mobility which reflects our acquisition of Brightpoint, Inc. (“BrightPoint”). |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Significant Accounting Policies | ' | |||||||||||||||
Significant Accounting Policies | ||||||||||||||||
Basis of Consolidation | ||||||||||||||||
The consolidated financial statements include the accounts of Ingram Micro Inc. and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Unless the context otherwise requires, the use of the terms “Ingram Micro,” “we,” “us” and “our” in these notes to the consolidated financial statements refers to Ingram Micro Inc. and its subsidiaries. | ||||||||||||||||
Fiscal Year | ||||||||||||||||
Our fiscal year is a 52- or 53-week period ending on the Saturday nearest to December 31. All references herein to “2013,” “2012,” and “2011” represent the 52-week fiscal years ended December 28, 2013, December 29, 2012 and December 31, 2011, respectively. | ||||||||||||||||
Use of Estimates | ||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S.”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the financial statement date, and reported amounts of revenue and expenses during the reporting period. We review our estimates and assumptions on an on-going basis. Significant estimates primarily relate to the realizable value of accounts receivable, vendor programs, inventory, goodwill, intangible and other long-lived assets, income taxes and contingencies and litigation. Actual results could differ from these estimates. | ||||||||||||||||
Revenue Recognition | ||||||||||||||||
Revenue is recognized when: an arrangement exists; delivery has occurred, including transfer of title and risk of loss for product sales, or services have been rendered for service revenues; the price to the buyer is fixed or determinable; and collection is reasonably assured. Service revenues represent less than 10% of total net sales for 2013, 2012 and 2011. We, under specific conditions, permit our customers to return or exchange products. The provision for estimated sales returns is recorded concurrently with the recognition of revenue. The net impact on gross margin from estimated sales returns is included in allowances against trade accounts receivable in the consolidated balance sheet. We also have limited contractual relationships with certain of our customers and suppliers whereby we assume an agency relationship in the transaction. In such arrangements, we recognize as revenues the net fee associated with serving as an agent. | ||||||||||||||||
Vendor Programs | ||||||||||||||||
Funds received from vendors for price protection, product rebates, marketing/promotion, infrastructure reimbursement and meet-competition programs are recorded as adjustments to product costs, revenue, or selling, general and administrative (“SG&A”) expenses according to the nature of the program. Some of these programs may extend over one or more quarterly reporting periods. We accrue rebates or other vendor incentives as earned based on sales of qualifying products or as services are provided in accordance with the terms of the related program. | ||||||||||||||||
We sell products purchased from many vendors, but generated approximately 15%, 18% and 21% of our net sales in 2013, 2012 and 2011, respectively, from products purchased from Hewlett-Packard Company, and approximately 10% of our consolidated net sales in 2012 from products purchased from Apple Inc. The year-over-year decreases in products purchased from these vendors, as a percentage of net sales, for the periods discussed above reflects the higher mix of products purchased from other vendors as a result of changes in the market in general and our acquisition of BrightPoint which does not have significant products purchased from these vendors. There were no other vendors whose products represented 10% or more of our net sales for each of the last three fiscal years. | ||||||||||||||||
Warranties | ||||||||||||||||
Our suppliers generally warrant the products distributed by us and allow returns of defective products, including those that have been returned to us by our customers. We generally do not independently warrant the products we distribute; however, local laws might impose warranty obligations upon distributors (such as in the case of supplier liquidation). We are obligated to provide warranty protection for sales of certain IT products within the European Union (“EU”) for up to two years as required under the EU directive where vendors have not affirmatively agreed to provide pass-through protection. In addition, we warrant the services we provide, products that we build-to-order from components purchased from other sources, and our own branded products. Provision for estimated warranty costs is recorded at the time of sale and periodically adjusted to reflect actual experience. Warranty expense and the related obligations are not material to our consolidated financial statements. | ||||||||||||||||
Foreign Currency Translation and Remeasurement | ||||||||||||||||
Financial statements of our foreign subsidiaries, for which the functional currency is the local currency, are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and a weighted average exchange rate for each period for statement of income items. Translation adjustments are recorded in accumulated other comprehensive income, a component of stockholders’ equity. The functional currency of a few operations within our Europe, Asia-Pacific and Latin America regions is the U.S. dollar; accordingly, the monetary assets and liabilities of these subsidiaries are remeasured into U.S. dollars at the exchange rate in effect at the balance sheet date. Revenues, expenses, gains or losses are remeasured at the average exchange rate for the period, and nonmonetary assets and liabilities are remeasured at historical rates. The resultant remeasurement gains and losses of these operations as well as gains and losses from foreign currency transactions are included in the consolidated statement of income. | ||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
We consider all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents. | ||||||||||||||||
Book overdrafts of $347,837 and $415,207 as of December 28, 2013 and December 29, 2012, respectively, represent checks issued on disbursement bank accounts but not yet paid by such banks. These amounts are classified as accounts payable in our consolidated balance sheet. We typically fund these overdrafts through normal collections of funds or transfers from bank balances at other financial institutions. Under the terms of our facilities with the banks, the respective financial institutions are not legally obligated to honor the book overdraft balances as of December 28, 2013 and December 29, 2012, or any balance on any given date. | ||||||||||||||||
Trade Accounts Receivable Factoring Programs | ||||||||||||||||
We have several uncommitted factoring programs under which trade accounts receivable of two large customers may be sold, without recourse, to financial institutions. Available capacity under these programs is dependent on the level of our trade accounts receivable eligible to be sold into these programs and the financial institutions’ willingness to purchase such receivables. At December 28, 2013 and December 29, 2012, we had a total of $381,451 and $242,626, respectively, of trade accounts receivable sold to and held by the financial institutions under these programs. Factoring fees of $2,851, $3,822 and $3,068 incurred in 2013, 2012 and 2011, respectively, related to the sale of trade accounts receivable under both facilities are included in “other” in the other expense (income) section of our consolidated statement of income. | ||||||||||||||||
Inventory | ||||||||||||||||
Our inventory consists of finished goods purchased from various vendors for resale. Inventory is stated at the lower of average cost or market, and is determined from the price we pay vendors, including freight and duties. We do not include labor, overhead or other general or administrative costs in our inventory. | ||||||||||||||||
Property and Equipment | ||||||||||||||||
Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives noted below. We also capitalize computer software costs that meet both the definition of internal-use software and defined criteria for capitalization. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life. Depreciable lives of property and equipment are as follows: | ||||||||||||||||
Buildings | 30-40 years | |||||||||||||||
Leasehold improvements | 3-17 years | |||||||||||||||
Distribution equipment | 5-10 years | |||||||||||||||
Computer equipment and software | 3-10 years | |||||||||||||||
Maintenance, repairs and minor renewals are charged to expense as incurred. Additions, major renewals and betterments to property and equipment are capitalized. | ||||||||||||||||
Long-Lived and Intangible Assets | ||||||||||||||||
We assess potential impairments to our long-lived and intangible assets when events or changes in circumstances indicate that the carrying amount may not be fully recoverable. If required, an impairment loss is recognized as the difference between the carrying value and the fair value of the assets. The gross carrying amounts of finite-lived identifiable intangible assets of $496,789 and $445,385 at December 28, 2013 and December 29, 2012, respectively, are amortized over their remaining estimated lives ranging up to 20 years with the predominant amounts having lives of 3 to 10 years. The net carrying amount was $375,423 and $372,482 at December 28, 2013 and December 29, 2012, respectively. Amortization expense was $48,480, $20,711 and $12,550 for 2013, 2012 and 2011, respectively. Future minimum amortization expense of finite-lived identifiable intangible assets that we expect to recognize over the next five years and thereafter are as follows: | ||||||||||||||||
2014 | $ | 57,038 | ||||||||||||||
2015 | 54,702 | |||||||||||||||
2016 | 48,189 | |||||||||||||||
2017 | 48,094 | |||||||||||||||
2018 | 47,259 | |||||||||||||||
Thereafter | 120,141 | |||||||||||||||
$ | 375,423 | |||||||||||||||
There were no impairments to our long-lived and other identifiable intangible assets in 2013, 2012 and 2011. | ||||||||||||||||
Goodwill | ||||||||||||||||
Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets acquired in an acquisition and is reviewed annually for potential impairment, or when circumstances warrant. | ||||||||||||||||
Additions to goodwill in 2013 were due to our acquisitions of SoftCom, Inc. ("SoftCom"), CloudBlue Technologies, Inc. ("CloudBlue") and Shipwire, Inc. ("Shipwire") in North America during the third and fourth quarters of 2013. Additionally, we adjusted goodwill in 2013 to reflect the finalization of the allocation of purchase price related to the fourth quarter 2012 acquisitions of BrightPoint, Aptec Holdings Ltd. ("Aptec") and Promark Technology Inc. ("Promark"). The adjustments include the finalization of the valuation of a noncontrolling interest in one of the acquired BrightPoint subsidiaries as well as the assessment of certain tax matters (see Note 4 "Acquisitions, Goodwill and Intangible Assets"). | ||||||||||||||||
Goodwill is required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that goodwill may be impaired. We perform our annual goodwill impairment review during our fiscal fourth quarter, using a combination of the income and market approach. Our annual review indicated that we had no impairment of goodwill, and all of our reporting units had estimated fair values that were in excess of their carrying values, including goodwill. In addition, we regularly evaluate whether events and circumstances have occurred that may indicate a potential change in recoverability of goodwill, including a deterioration in general economic conditions, an increased competitive environment, a change in management, key personnel, strategy, vendors, or customers, negative or declining cash flows, or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods. | ||||||||||||||||
The changes in the carrying amount of goodwill for 2013 are as follows: | ||||||||||||||||
North | Asia- | BrightPoint | Total | |||||||||||||
America | Pacific | |||||||||||||||
Balance at December 31, 2011 | $ | — | $ | — | $ | — | $ | — | ||||||||
Acquisitions | 4,555 | 4,951 | 418,895 | 428,401 | ||||||||||||
Balance at December 29, 2012 | $ | 4,555 | $ | 4,951 | $ | 418,895 | $ | 428,401 | ||||||||
Acquisitions | 105,064 | — | — | 105,064 | ||||||||||||
Adjustments/reclassifications | (800 | ) | 1,671 | (6,810 | ) | (5,939 | ) | |||||||||
Balance at December 28, 2013 | $ | 108,819 | $ | 6,622 | $ | 412,085 | $ | 527,526 | ||||||||
Concentration of Credit Risk | ||||||||||||||||
Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and cash equivalents, trade accounts receivable from customers and vendors, and derivative financial instruments. Our cash and cash equivalents are deposited and/or invested with various financial institutions globally that are monitored by us regularly for credit quality. Our trade accounts receivable reflect a large number of customers and dispersed across wide geographic areas, none of which has accounted for 10% or more of our consolidated net sales in 2013, 2012 and 2011 and no customer accounts receivable balance was greater than 10% of our total trade accounts receivable at December 28, 2013 nor December 29, 2012. We perform ongoing credit evaluations of our customers’ financial conditions, obtain credit insurance in many locations and require collateral in certain circumstances. We maintain an allowance for estimated credit losses. | ||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||
We operate in various locations around the world. We reduce our exposure to fluctuations in foreign exchange rates by creating offsetting positions through the use of derivative financial instruments in situations where there are not offsetting balances that create a natural hedge. The market risk related to the foreign exchange agreements is offset by changes in the valuation of the underlying items being hedged. In accordance with our policy, we do not use derivative financial instruments for trading or speculative purposes, nor are we a party to leveraged derivatives. | ||||||||||||||||
Foreign exchange risk is managed primarily by using forward contracts to hedge foreign currency-denominated receivables, payables and intercompany loans and expenses. Interest rate swaps and forward contracts are used to hedge foreign currency-denominated principal and interest payments related to intercompany loans. | ||||||||||||||||
All derivatives are recorded in our consolidated balance sheet at fair value. The estimated fair value of derivative financial instruments represents the amount required to enter into similar offsetting contracts with similar remaining maturities based on market-derived prices. Changes in the fair value of derivatives not designated as hedging instruments are recorded in current earnings. Changes in the fair value of derivatives designated as hedging instruments are reflected in accumulated other comprehensive income. | ||||||||||||||||
The notional amount of forward exchange contracts is the amount of foreign currency bought or sold at maturity. The notional amount of interest rate swaps is the underlying principal amount used in determining the interest payments exchanged over the life of the swap. Notional amounts are indicative of the extent of our involvement in the various types and uses of derivative financial instruments but are not a measure of our exposure to credit or market risks through our use of derivatives. | ||||||||||||||||
Credit exposure for derivative financial instruments is limited to the amounts, if any, by which the counterparties’ obligations under the contracts exceed our obligations to the counterparties. We manage the potential risk of credit losses through careful evaluation of counterparty credit standing, selection of counterparties from a limited group of financial institutions and other contract provisions including collateral deposits. | ||||||||||||||||
Treasury Stock | ||||||||||||||||
We account for repurchased shares of common stock as treasury stock. Treasury shares are recorded at cost and are included as a component of stockholders’ equity in our consolidated balance sheet. | ||||||||||||||||
Comprehensive Income | ||||||||||||||||
Comprehensive income consists primarily of our net income, foreign currency translation adjustments and, fair value adjustments to our interest rate swap agreement designated as a cash flow hedge, which we settled in September 2011. | ||||||||||||||||
Earnings Per Share | ||||||||||||||||
We report a dual presentation of Basic Earnings Per Share (“Basic EPS”) and Diluted Earnings Per Share (“Diluted EPS”). Basic EPS excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding during the reported period. Diluted EPS uses the treasury stock method to compute the potential dilution that could occur if stock-based awards and other commitments to issue common stock were exercised. | ||||||||||||||||
The computation of Basic EPS and Diluted EPS is as follows: | ||||||||||||||||
Fiscal Year Ended | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Net income | $ | 310,583 | $ | 305,909 | $ | 244,240 | ||||||||||
Weighted average shares | 152,900 | 150,654 | 155,882 | |||||||||||||
Basic earnings per share | $ | 2.03 | $ | 2.03 | $ | 1.57 | ||||||||||
Weighted average shares including the dilutive effect of stock-based awards (3,372, 3,063 and 3,706 for 2013, 2012 and 2011, respectively) | 156,272 | 153,717 | 159,588 | |||||||||||||
Diluted earnings per share | $ | 1.99 | $ | 1.99 | $ | 1.53 | ||||||||||
There were approximately 2,069, 3,487 and 2,671 stock-based awards in 2013, 2012 and 2011, respectively, which were not included in the computation of Diluted EPS because the exercise price was greater than the average market price of the Class A Common Stock, thereby resulting in an antidilutive effect. | ||||||||||||||||
Income Taxes | ||||||||||||||||
We estimate income taxes in each of the taxing jurisdictions in which we operate. This process involves estimating our actual current tax expense together with assessing the future tax impact of any differences resulting from the different treatment of certain items, such as the timing for recognizing revenues and expenses for tax versus financial reporting purposes. These differences may result in deferred tax assets and liabilities, which are included in our consolidated balance sheet. We are required to assess the likelihood that our deferred tax assets, which include net operating loss carryforwards, tax credits and temporary differences that are expected to be deductible in future years, will be recoverable from future taxable income. In making that assessment, we consider the nature of the deferred tax assets and related statutory limits on utilization, recent operating results, future market growth, forecasted earnings, future taxable income, the mix of earnings in the jurisdictions in which we operate and prudent and feasible tax planning strategies. If, based upon available evidence, recovery of the full amount of the deferred tax assets is not likely; we provide a valuation allowance on any amount not likely to be realized. | ||||||||||||||||
Our effective tax rate includes the impact of not providing taxes on undistributed foreign earnings considered indefinitely reinvested. Material changes in our estimates of cash, working capital and long-term investment requirements in the various jurisdictions in which we do business could impact our effective tax rate if we no longer consider our foreign earnings to be indefinitely reinvested. | ||||||||||||||||
The provision for tax liabilities and recognition of tax benefits involves evaluations and judgments of uncertainties in the interpretation of complex tax regulations by various taxing authorities. In situations involving uncertain tax positions related to income tax matters, we do not recognize benefits unless their sustainability is deemed more likely than not. As additional information becomes available, or these uncertainties are resolved with the taxing authorities, revisions to these liabilities or benefits may be required, resulting in additional provision for or benefit from income taxes reflected in our consolidated statement of income. | ||||||||||||||||
Accounting for Stock-Based Compensation | ||||||||||||||||
We use the Black-Scholes option-pricing model to determine the fair value of stock options and the closing market price of our common stock on the date of the grant to determine the fair value of our restricted stock and restricted stock units. Stock-based compensation expense is recorded for all stock options, restricted stock and restricted stock units that are ultimately expected to vest as the requisite service is rendered. We recognize these compensation costs, net of an estimated forfeiture rate, on a straight-line basis over the requisite service period of the award, which is the vesting term of outstanding stock-based awards. We estimate the forfeiture rate based on our historical experience during the preceding five fiscal years. | ||||||||||||||||
New Accounting Standards | ||||||||||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which requires a reporting entity to present an unrecognized tax benefit as a liability in the financial statements separate from deferred tax assets if a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available as of the reporting date to settle taxes that would result from the disallowance of the tax position or if a reporting entity does not intend to use the deferred tax asset for such purpose. This guidance will be effective for us beginning December 29, 2013, the first day of fiscal year 2014 and is not expected to have a material impact on our consolidated financial statements. |
Reorganization_Costs
Reorganization Costs | 12 Months Ended | ||||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||||||||
Reorganization Costs | ' | ||||||||||||||||||||||
Reorganization Costs | |||||||||||||||||||||||
2013 Actions | |||||||||||||||||||||||
In 2013, we incurred net reorganization costs primarily relating to a number of key initiatives, including: (a) the integration of BrightPoint operations into Ingram Micro, resulting in headcount reductions and the closure of certain BrightPoint facilities, and the exit of a portion of our Australian offices in Asia-Pacific; (b) headcount reductions in Europe to respond to the current market environment, and (c) the transition of certain transaction-oriented service and support functions to shared services centers. | |||||||||||||||||||||||
2012 Actions | |||||||||||||||||||||||
In 2012, we implemented headcount reductions primarily in Australia and New Zealand to better align our operating expenses with each country’s lower sales volumes. Additionally, we moved certain transactions-oriented service and support functions to global shared service centers located in Asia-Pacific and Europe. We closed our in-country Argentina operations in Latin America and are now servicing this market through our export operations in Miami. Associated with these actions, we incurred net reorganization costs related to employee termination benefits. | |||||||||||||||||||||||
2011 and Prior Actions | |||||||||||||||||||||||
In 2011, we implemented a cost-reduction program related to our Australian operations in Asia-Pacific primarily to align our level of operating expenses with declines in sales volume and the loss of market share in that country. We also implemented headcount reductions in certain operations in North America, Europe and Latin America. | |||||||||||||||||||||||
In 2009 and earlier, we incurred costs to integrate past acquisitions, and launched various other outsourcing and optimization plans, to improve operating efficiencies and better align our level of operating expenses with the decline in sales volumes resulting from the economic downturn in that period. | |||||||||||||||||||||||
While these reorganization actions were completed prior to the periods included herein, future cash outlays are required for future lease payments related to exited facilities. | |||||||||||||||||||||||
A summary of the reorganization and expense-reduction program costs incurred in 2013, 2012 and 2011 are as follows: | |||||||||||||||||||||||
Reorganization costs | |||||||||||||||||||||||
Headcount Reduction | Employee Termination Benefits | Facility Costs | Total Reorganization Costs | Adjustments to Prior Year Costs | Total Costs | ||||||||||||||||||
Fiscal year ended December 28, 2013 | |||||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||||
North America | $ | 3,698 | $ | — | $ | 3,698 | $ | 173 | $ | 3,871 | |||||||||||||
Europe | 11,316 | — | 11,316 | (188 | ) | 11,128 | |||||||||||||||||
Asia-Pacific | 952 | 4,259 | 5,211 | (12 | ) | 5,199 | |||||||||||||||||
Latin America | — | — | — | — | — | ||||||||||||||||||
BrightPoint | 9,361 | 5,070 | 14,431 | — | 14,431 | ||||||||||||||||||
Total | 628 | $ | 25,327 | $ | 9,329 | $ | 34,656 | $ | (27 | ) | $ | 34,629 | |||||||||||
Fiscal year ended December 29, 2012 | |||||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||||
North America | $ | 34 | $ | — | $ | 34 | $ | 779 | $ | 813 | |||||||||||||
Europe | 3,087 | — | 3,087 | (32 | ) | 3,055 | |||||||||||||||||
Asia-Pacific | 4,523 | — | 4,523 | (115 | ) | 4,408 | |||||||||||||||||
Latin America | 432 | — | 432 | — | 432 | ||||||||||||||||||
BrightPoint | 668 | 300 | 968 | — | 968 | ||||||||||||||||||
Total | 359 | $ | 8,744 | $ | 300 | $ | 9,044 | $ | 632 | $ | 9,676 | ||||||||||||
Fiscal year ended December 31, 2011 | |||||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||||
North America | $ | 1,216 | $ | — | $ | 1,216 | $ | (467 | ) | $ | 749 | ||||||||||||
Europe | 2,070 | — | 2,070 | (617 | ) | 1,453 | |||||||||||||||||
Asia-Pacific | 2,730 | — | 2,730 | — | 2,730 | ||||||||||||||||||
Latin America | 199 | — | 199 | — | 199 | ||||||||||||||||||
Total | 123 | $ | 6,215 | $ | — | $ | 6,215 | $ | (1,084 | ) | $ | 5,131 | |||||||||||
Adjustments in the table above primarily reflect increases or decreases in estimated costs for employee terminations or to exit facilities. | |||||||||||||||||||||||
The remaining liabilities and 2013 activities associated with the aforementioned actions are summarized in the table below: | |||||||||||||||||||||||
Reorganization Liability | |||||||||||||||||||||||
Remaining Liability at December 29, 2012 | Expenses (Income), Net | Amounts Paid | Foreign Currency Translation (a) | Remaining Liability at December 28, 2013 | |||||||||||||||||||
and Charged | |||||||||||||||||||||||
Against the | |||||||||||||||||||||||
Liability | |||||||||||||||||||||||
2013 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | $ | — | $ | 25,327 | $ | (12,615 | ) | $ | 177 | $ | 12,889 | ||||||||||||
Facility Costs | — | 9,329 | (3,438 | ) | (385 | ) | $ | 5,506 | |||||||||||||||
Subtotal | — | 34,656 | (16,053 | ) | (208 | ) | 18,395 | (b) | |||||||||||||||
2012 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | 1,826 | (200 | ) | (604 | ) | 37 | 1,059 | (c) | |||||||||||||||
2011 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | 79 | — | (79 | ) | — | — | |||||||||||||||||
2009 and prior reorganization actions | |||||||||||||||||||||||
Facility Costs | 6,214 | 173 | (3,137 | ) | (230 | ) | $ | 3,020 | (d) | ||||||||||||||
$ | 8,119 | $ | 34,629 | $ | (19,873 | ) | $ | (401 | ) | $ | 22,474 | ||||||||||||
(a)Reflects the net foreign currency impact on the U.S. dollar liability. | |||||||||||||||||||||||
(b)We expect the remaining liabilities to be substantially utilized by the end of 2016. | |||||||||||||||||||||||
(c)We expect the remaining liabilities to be substantially utilized by the end of 2014. | |||||||||||||||||||||||
(d)We expect the remaining liabilities to be fully utilized by the end of 2015. |
Acquisitions_Goodwill_and_Inta
Acquisitions, Goodwill and Intangible Assets | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Acquisitions, Goodwill and Intangible Assets | ' | |||||||
Acquisitions, Goodwill and Intangible Assets | ||||||||
2013 Acquisitions | ||||||||
On December 2, 2013, we acquired all of the issued and outstanding shares of Shipwire, a global provider of e-commerce fulfillment services for small-to-medium-sized business worldwide for cash of $86,000. The major classes of assets and liabilities to which we preliminarily allocated the purchase price were goodwill of $65,000, and identifiable intangible assets of $25,000, primarily consisting of software, trade name and customer relationships with estimated lives of five years. The goodwill recognized in connection with the acquisition is primarily attributable to the assembled workforce and our expectation of extending Shipwire's brand and the reach of its networked platform, while enhancing our existing portfolio of products and services. This acquisition will expand our solutions offerings into the large and growing e-commerce fulfillment market. | ||||||||
On September 30, 2013, we completed the acquisition of Norcross, Georgia-based CloudBlue, a provider of enterprise IT asset disposition, on-site data destruction and e-waste recycling services to large enterprise customers for cash of $38,500. We have preliminarily allocated the purchase price to the identifiable assets acquired and liabilities assumed at their estimated fair values which included approximately $15,000 of intangible assets and approximately $25,000 of goodwill. The identifiable intangible assets primarily consisted of customer relationships, software and trade name with estimated useful lives up to five years. The goodwill recognized is primarily attributable to the assembled workforce and our expectation of expanding our supply chain solutions portfolio with a full suite of in-demand services. | ||||||||
On September 12, 2013, we acquired all of the outstanding shares of Canada-based SoftCom, a cloud marketplace and global service provider, for cash of $11,000 and payment of outstanding debt of $3,400. In addition, the purchase price includes a deferred payment of $5,000, payable over three years and a $3,650 three-year performance-based earn-out. We have preliminarily allocated the purchase price to the identifiable assets acquired and liabilities assumed at their estimated fair values which included approximately $9,000 of intangible assets and approximately $15,000 of goodwill. The identifiable intangible assets primarily consisted of domain names and software with estimated useful lives of six years. The goodwill recognized is primarily attributable to the assembled workforce and the enhancement of cloud offerings road map and aggregation platform to our reseller partners. | ||||||||
These entities have been included in our consolidated results of operations since their respective acquisition dates. | ||||||||
Pro forma results of operations have not been presented for the 2013 acquisitions because the effects of the business combinations for these acquisitions, individually and in aggregate, were not material to our consolidated results of operations. | ||||||||
2012 Acquisitions | ||||||||
On October 15, 2012, we completed the acquisition of BrightPoint, a U.S. publicly traded company and a global leader in providing device lifecycle services to the wireless industry for cash and the assumption of its debt. The results of operations of BrightPoint are included in our consolidated financial statements from the date of the merger. The consideration paid was $868,192, net of cash acquired, primarily comprised of $9.00 cash per share of BrightPoint’s outstanding common stock (including common stock underlying restricted stock units and shares issued pursuant to restricted stock awards accelerated upon closing of the transaction) and payment of BrightPoint’s outstanding debt of $260,257 as of October 15, 2012. | ||||||||
We are realizing operational benefits by leveraging existing channel relationships and utilizing the assembled workforce. We also have achieved significant savings in corporate and operational overhead costs. We anticipate continued opportunities for growth through our entry into the global wireless industry, expansion of our geographic reach and customer segment diversity, and the ability to leverage additional products and capabilities. These factors, among others, contributed to a purchase price in excess of the estimated fair value of BrightPoint’s net identifiable assets acquired, and, as a result, we have recorded goodwill in connection with this transaction. | ||||||||
The following table summarizes the allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of October 15, 2012: | ||||||||
Tangible assets (includes trade accounts receivable, inventory, property and equipment and other assets) | $ | 1,158,450 | ||||||
Goodwill | 412,085 | |||||||
Identifiable intangible assets | 309,000 | |||||||
Liabilities (includes accounts payable, accrued expenses and other liabilities) | (1,011,343 | ) | ||||||
$ | 868,192 | |||||||
The components of identifiable intangible assets acquired in connection with the BrightPoint acquisition were as follows: | ||||||||
Fair Value | Estimated | |||||||
Useful Life | ||||||||
Logistics customer relationships | $ | 237,000 | 10 years | |||||
Distribution customer relationships | 59,000 | 7 years | ||||||
Trade name | 13,000 | 3 years | ||||||
Total identifiable intangible assets | $ | 309,000 | ||||||
The following represents unaudited pro forma operating results for the years ended December 29, 2012 and December 31, 2011 as if BrightPoint had been included in our consolidated statement of income as of the first day of fiscal year 2011 and includes business combination accounting effects from our acquisition including amortization of acquired intangible assets and increase in interest expense associated with the issuance of our senior unsecured notes due in 2022 and additional borrowings from our revolving senior unsecured credit facility debt to fund the acquisition. | ||||||||
Fiscal Year | ||||||||
2012 | 2011 | |||||||
Net sales | $ | 41,802,220 | $ | 41,573,084 | ||||
Net income | $ | 310,791 | $ | 282,901 | ||||
Earnings per share | ||||||||
Basic | $ | 2.06 | $ | 1.81 | ||||
Diluted | $ | 2.02 | $ | 1.77 | ||||
The above unaudited pro forma results have been prepared for informational purposes only and do not purport to represent what the results of operations would have been had the acquisition occurred as of those dates, nor of future results of operations. | ||||||||
In the fourth quarter of 2012, we acquired Aptec, excluding its Saudi Arabia business, for a cash price of approximately $16,302. The purchase price has been allocated to the assets acquired and liabilities assumed based on their estimated fair values on the transaction dates, resulting in the recording of goodwill of $6,622 and identifiable intangible assets of $1,834, primarily related to vendor and customer relationships and trademarks with estimated useful lives of 10 and 3 years, respectively. | ||||||||
On November 30, 2012, we acquired all of the outstanding shares of Promark for an initial cash payment of $7,707; payment of its outstanding debt of $4,675; a hold-back amount of $2,250, and a maximum potential earn-out of $1,000 to be paid out by the first quarter of 2015 based upon the achievement of certain pre-defined targets. We have allocated the purchase price to the identifiable assets acquired and liabilities assumed at their estimated fair values with $3,755 recorded as goodwill. This acquisition further strengthens our position in higher value products and solutions and extends our reach within the public sector in the North American region. | ||||||||
Pro forma results of operations of Aptec and Promark have not been presented because the effects of the business combinations of these acquisitions, individually and in the aggregate, were not material to our consolidated results of operations. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property and Equipment | ' | |||||||
Property and Equipment | ||||||||
Property and equipment consist of the following: | ||||||||
Fiscal Year End | ||||||||
2013 | 2012 | |||||||
Land | $ | 11,614 | $ | 11,706 | ||||
Buildings and leasehold improvements | 190,604 | 186,934 | ||||||
Distribution equipment | 286,902 | 278,064 | ||||||
Computer equipment and software | 690,841 | 636,723 | ||||||
1,179,961 | 1,113,427 | |||||||
Accumulated depreciation | (691,262 | ) | (632,103 | ) | ||||
$ | 488,699 | $ | 481,324 | |||||
Debt
Debt | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Debt | ' | |||||||
Debt | ||||||||
The carrying value of our outstanding debt consists of the following: | ||||||||
Fiscal Year End | ||||||||
2013 | 2012 | |||||||
Senior unsecured notes, 5.25% due 2017 | $ | 300,000 | $ | 300,000 | ||||
Senior unsecured notes, 5.00% due 2022, net of unamortized discount of $1,546 and $1,725, respectively | 298,454 | 298,275 | ||||||
North America revolving trade accounts receivable-backed financing program | 199,000 | 345,000 | ||||||
Lines of credit and other debt | 48,772 | 111,268 | ||||||
846,226 | 1,054,543 | |||||||
Short-term debt and current maturities of long-term debt | (48,772 | ) | (111,268 | ) | ||||
$ | 797,454 | $ | 943,275 | |||||
In August 2012, we issued through a public offering $300,000 of 5.00% senior unsecured notes due 2022, resulting in cash proceeds of approximately $296,256, net of discount and issuance costs of $1,794 and $1,950, respectively. Interest on the notes is payable semiannually in arrears on February 10 and August 10, commencing February 10, 2013. We also have $300,000 of 5.25% senior unsecured notes due 2017. Interest on the notes is payable semiannually in arrears on March 1 and September 1 of each year. These notes may be redeemed by us in whole at any time or in part from time to time, at our option, at redemption prices that are designated in the terms and conditions of the respective notes. | ||||||||
We have a revolving trade accounts receivable-backed financing program in North America which provides for up to $675,000 in borrowing capacity. This financing program matures in November 2015. This financing program, subject to the financial institutions’ approval and availability of eligible receivables, may be increased to $900,000 in accordance with the extended terms of the program. The interest rate of this program is dependent on designated commercial paper rates (or, in certain circumstances, an alternate rate) plus a predetermined margin. We had borrowings of $199,000 and $345,000 at December 28, 2013 and December 29, 2012, respectively, under this North American financing program. | ||||||||
We have three revolving trade accounts receivable-backed financing programs in Europe and in Asia-Pacific: | ||||||||
a) | a program which provides for a borrowing capacity of up to €105,000, or approximately $145,000 at December 28, 2013 exchange rates. In June 2013, we entered into an agreement to increase the borrowing capacity of this program to €105,000 from the previous amount of €100,000 and to extend its maturity to January 2017. | |||||||
b) | A program which provides for a maximum borrowing capacity of up to €45,000, or approximately $62,000 at December 28, 2013 exchange rates. In May 2013, this program was extended and in June 2013, we entered into an agreement to reduce the borrowing capacity of this program to €45,000 from the previous amount of €90,000 and to extend its maturity to May 2016. | |||||||
c) | A program which provides for a maximum borrowing capacity of up to 160,000 Australian dollars, or approximately $142,000 at December 28, 2013 exchange rates, maturing in May 2014. | |||||||
The current programs require certain commitment fees, and borrowings under this program incur financing costs based on the local short-term bank indicator rate for the currency in which the drawing is made plus a predetermined margin. We had no borrowings at December 28, 2013 or December 29, 2012 under any of these three financing program. | ||||||||
Our ability to access financing under all our trade accounts receivable-backed financing programs in North America, Europe and Asia-Pacific, as discussed above, is dependent upon the level of eligible trade accounts receivable as well as continued covenant compliance. We may lose access to all or part of our financing under these programs under certain circumstances, including: (a) a reduction in sales volumes leading to related lower levels of eligible trade accounts receivable; (b) failure to meet certain defined eligibility criteria for the trade accounts receivable, such as receivables remaining assignable and free of liens and dispute or set-off rights; (c) performance of our trade accounts receivable; and/or (d) loss of credit insurance coverage for our European and Asia-Pacific facilities. At December 28, 2013, our actual aggregate capacity under these programs was approximately $997,000 based on eligible trade accounts receivable available, of which $199,000 of such capacity was used. Even if we do not borrow, or choose not to borrow to the full available capacity of certain programs, most of our trade accounts receivable-backed financing programs prohibit us from assigning, transferring or pledging the underlying eligible receivables as collateral for other financing programs. At December 28, 2013, the amount of trade accounts receivable which would be restricted in this regard totaled approximately $1,525,000. | ||||||||
We have a $940,000 revolving senior unsecured credit facility from a syndicate of multinational banks, which was scheduled to mature in September 2016. In August 2013, we entered into an amendment of this facility to extend its maturity to September 30, 2018. In addition, the amendment provides an option to increase the total commitment by $310,000, subject to certain conditions. The interest rate on this facility is based on LIBOR, plus a predetermined margin that is based on our debt ratings and leverage ratio. We had no borrowings at December 28, 2013 and December 29, 2012, under this credit facility. This credit facility may also be used to issue letters of credit. At December 28, 2013 and December 29, 2012, letters of credit of $7,996 and $4,491, respectively, were issued to certain vendors and financial institutions to support purchases by our subsidiaries, payment of insurance premiums and flooring arrangements. Our available capacity under the agreement is reduced by the amount of any outstanding letters of credit. | ||||||||
We also have additional lines of credit, short-term overdraft facilities and other credit facilities with various financial institutions worldwide, which provide for borrowing capacity aggregating approximately $969,000 at December 28, 2013. Most of these arrangements are on an uncommitted basis and are reviewed periodically for renewal. At December 28, 2013 and December 29, 2012, respectively, we had $48,772 and $111,268 outstanding under these facilities. The weighted average interest rate on the outstanding borrowings under these facilities, which may fluctuate depending on geographic mix, was 9.0% and 7.9% per annum at December 28, 2013 and December 29, 2012, respectively. At December 28, 2013 and December 29, 2012, letters of credit totaling $31,636 and $30,829, respectively, were issued to various customs agencies and landlords to support our subsidiaries. The issuance of these letters of credit reduces our available capacity under these agreements by the same amount. | ||||||||
We are required to comply with certain financial covenants under the terms of certain of our financing facilities, including restrictions on funded debt and liens and covenants related to tangible net worth, leverage and interest coverage ratios and trade accounts receivable portfolio performance including metrics related to receivables and payables. We are also restricted by other covenants, including, but not limited to, restrictions on the amount of additional indebtedness we can incur, dividends we can pay, and the amount of common stock that we can repurchase annually. At December 28, 2013, we were in compliance with all material covenants or other material requirements set forth in our trade accounts receivable-backed programs, senior unsecured notes due 2017 and 2022, revolving senior unsecured credit facility and other credit agreements, as discussed above. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The estimates and assumptions we use in computing the income taxes reflected in our consolidated financial statements could differ from the actual results reflected in our income tax returns filed during the subsequent year. We record adjustments based on filed returns as such returns are finalized and resultant adjustments are identified. | ||||||||||||
The components of income before income taxes consist of the following: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
United States | $ | 200,663 | $ | 156,134 | $ | 129,412 | ||||||
Foreign | 235,436 | 240,050 | 258,459 | |||||||||
Total | $ | 436,099 | $ | 396,184 | $ | 387,871 | ||||||
The provision for income taxes consists of the following: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 80,910 | $ | 13,642 | $ | 29,238 | ||||||
State | 8,225 | 2,547 | 3,951 | |||||||||
Foreign | 69,468 | 80,003 | 81,617 | |||||||||
158,603 | 96,192 | 114,806 | ||||||||||
Deferred: | ||||||||||||
Federal | (13,894 | ) | (20,738 | ) | 23,772 | |||||||
State | (1,776 | ) | 1,161 | 707 | ||||||||
Foreign | (17,417 | ) | 13,660 | 4,346 | ||||||||
(33,087 | ) | (5,917 | ) | 28,825 | ||||||||
Provision for income taxes | $ | 125,516 | $ | 90,275 | $ | 143,631 | ||||||
The reconciliation of the statutory U.S. federal income tax rate to our effective tax rate is as follows: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal income tax benefit | 1.5 | 1.2 | 1.5 | |||||||||
U.S. tax on foreign earnings, net of foreign tax credits | (4.6 | ) | 0.6 | 0.2 | ||||||||
Effect of international operations | (5.6 | ) | (7.7 | ) | (9.7 | ) | ||||||
Effect of change in valuation allowances | 2.9 | 2.6 | 8.7 | |||||||||
Effect of worthless stock deduction | — | (9.0 | ) | — | ||||||||
Other | (0.4 | ) | 0.1 | 1.3 | ||||||||
Effective tax rate | 28.8 | % | 22.8 | % | 37 | % | ||||||
Deferred income taxes reflect the tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our net deferred tax assets and liabilities are as follows: | ||||||||||||
Fiscal Year End | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Net operating loss carryforwards | $ | 293,514 | $ | 223,790 | ||||||||
Tax credit carryforwards | 134,573 | 94,732 | ||||||||||
Employee benefits, including stock-based compensation | 51,764 | 60,292 | ||||||||||
Reorganization and restructuring reserves | 3,138 | 4,410 | ||||||||||
Inventory | 32,627 | 31,999 | ||||||||||
Depreciation and amortization | 38,899 | 69,264 | ||||||||||
Allowance on trade accounts receivable | 12,991 | 13,476 | ||||||||||
Reserves and accruals not currently deductible for income tax purposes | 27,545 | 26,478 | ||||||||||
Other | 33,308 | 17,700 | ||||||||||
Total deferred tax assets | 628,359 | 542,141 | ||||||||||
Valuation allowance | (315,312 | ) | (241,095 | ) | ||||||||
Subtotal | 313,047 | 301,046 | ||||||||||
Deferred tax liabilities: | — | |||||||||||
Depreciation and amortization | (154,079 | ) | (166,239 | ) | ||||||||
Outside basis difference on earnings of foreign subsidiaries | (60,345 | ) | (61,560 | ) | ||||||||
Other | (15,250 | ) | (17,272 | ) | ||||||||
Total deferred tax liabilities | (229,674 | ) | (245,071 | ) | ||||||||
Net deferred tax assets | $ | 83,373 | $ | 55,975 | ||||||||
Out of the amounts shown above, net current deferred tax assets of $83,001 and $106,986 are included in other current assets at December 28, 2013 and December 29, 2012, respectively. Net non-current deferred tax assets of $372 as of December 28, 2013 are included in other non-current assets and net non-current deferred tax liabilities of $51,011 as of December 29, 2012 are included in deferred income taxes. | ||||||||||||
We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including the nature of the deferred tax assets and related statutory limits on utilization, recent operating results, future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. In the event we were to determine that we would be able to realize our deferred income tax assets in the future in excess of or less than the net recorded amount, we would make an adjustment to the valuation allowance which would reduce or increase the provision for income taxes. | ||||||||||||
At December 28, 2013, we had deferred tax assets related to net operating loss carryforwards of $293,514, along with a valuation allowance of $235,757, with the net amount reflecting the amount more likely than not to be realized. Of the remaining $57,757 of net deferred tax assets associated with NOL carryforwards, $22,001 has no expiration date. Included in the amounts noted above at December 28, 2013 is $59,494 of deferred tax assets for local statutory losses that were generated by our Luxembourg subsidiary during 2013, along with an offsetting valuation allowance. A portion of the carryforwards may expire before being applied to reduce future income tax liabilities. We monitor all of our other deferred tax assets for realizability in a similar manner to those described above and will record or release valuation allowances as required to reflect the amount more likely than not to be realized. | ||||||||||||
At December 28, 2013, our total deferred tax assets related to foreign tax credit carryforwards in the U.S. was $134,342 and our total valuation allowance related to such credit carryforwards was $55,508, with the net amount reflecting the amount more likely than not to be realized based on our current ability to generate the character of income required to utilize these credits prior to expiry through 2021. | ||||||||||||
The valuation allowance increased by a net $74,217 during 2013, driven largely by the increase in the valuation allowance on deferred tax assets related to the net operating losses in Luxembourg and the foreign tax credit carryforwards, as noted above. The remaining increase relates primarily to book operating losses in certain subsidiaries that are currently not expected to be realized through future taxable income in these entities, partially offset by previously reserved amounts which became realizable based on taxable income generated in the current year, as well as the impacts of translation adjustments for previously established valuation allowances in currencies other than the U.S. dollar. | ||||||||||||
We have not provided deferred taxes on undistributed earnings from certain of our foreign subsidiaries that are indefinitely reinvested. These undistributed earnings may become taxable upon an actual or deemed repatriation of assets from the subsidiaries or a sale or liquidation of the subsidiaries. We estimate that our total net undistributed earnings upon which we have not provided deferred tax total approximately $2,000,000 at December 28, 2013, and $2,100,000 at December 29, 2012. A determination of the deferred tax liability on such earnings is not practicable as such liability is dependent upon our U.S. foreign tax credit position that would exist at the time any remittance would occur. | ||||||||||||
Tax benefits claimed from the exercise of employee stock options and other employee stock programs that are in excess of (less than) the amount recorded upon grant are recorded as an increase (decrease) in stockholders’ equity. In 2013, 2012 and 2011, these amounts totaled $422, $5,810 and $3,625, respectively. | ||||||||||||
The total amount of gross unrecognized tax benefits is $35,398 as of December 28, 2013, substantially all of which would impact the effective tax rate if recognized. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Gross unrecognized tax benefits at beginning of the year | $ | 38,790 | $ | 24,888 | $ | 23,641 | ||||||
Increases in tax positions for prior years | 4,918 | 17,281 | 3,953 | |||||||||
Decreases in tax positions for prior years | (61 | ) | (900 | ) | (1,221 | ) | ||||||
Increases in tax positions for current year | 737 | 2,716 | 1,197 | |||||||||
Decreases in tax positions for current year | — | — | — | |||||||||
Settlements | (1,078 | ) | (343 | ) | (789 | ) | ||||||
Lapse in statute of limitations | (7,908 | ) | (4,852 | ) | (1,893 | ) | ||||||
Gross unrecognized tax benefits at end of the year | $ | 35,398 | $ | 38,790 | $ | 24,888 | ||||||
We recognize interest and penalties related to unrecognized tax benefits in income tax expense. As of December 28, 2013, the total accrual for interest and penalties on our unrecognized tax benefits is $7,333. | ||||||||||||
We conduct business globally and, as a result, we and/or one or more of our subsidiaries file income tax returns in the U.S. federal and various state jurisdictions and in over thirty foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities in many of the jurisdictions in which we operate. In the U.S., the IRS has concluded its examination for the years prior to 2010. In our material tax jurisdictions, the statute of limitations is open, in general, for three - five years. | ||||||||||||
It is possible that within the next twelve months, ongoing tax examinations in the U.S. states and several of our foreign jurisdictions may be resolved, that new tax exams may commence and that other issues may be effectively settled. However, we do not expect our assessment of unrecognized tax benefits to change significantly over that time. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||
Derivative Financial Instruments | ' | |||||||||||||||
Derivative Financial Instruments | ||||||||||||||||
Our derivatives designated as hedging instruments have consisted primarily of foreign currency forward contracts to hedge certain foreign currency-denominated intercompany management fees. We also use foreign currency forward contracts that are not designated as hedges primarily to manage currency risk associated with foreign currency-denominated trade accounts receivable, accounts payable and intercompany loans. At December 28, 2013 and December 29, 2012, we had no derivatives that are designated as hedging instruments. | ||||||||||||||||
The notional amounts and fair values of derivative instruments in our consolidated balance sheet were as follows: | ||||||||||||||||
Notional Amounts(1) | Fair Value | |||||||||||||||
December 28, | December 29, | December 28, | December 29, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives not receiving hedge accounting treatment recorded in: | ||||||||||||||||
Other current assets | ||||||||||||||||
Foreign exchange contracts | $ | 334,519 | $ | 817,172 | $ | 2,942 | $ | 2,897 | ||||||||
Accrued expenses | ||||||||||||||||
Foreign exchange contracts | 1,486,407 | 607,836 | (8,887 | ) | (3,776 | ) | ||||||||||
Total | $ | 1,820,926 | $ | 1,425,008 | $ | (5,945 | ) | $ | (879 | ) | ||||||
(1) Notional amounts represent the gross amount of foreign currency bought or sold at maturity for foreign exchange contracts. | ||||||||||||||||
Fiscal Year Ended | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Net gain (loss) recognized in earnings | (11,657 | ) | (35,181 | ) | 1,799 | |||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
Our 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 and liabilities; Level 2 — observable market-based inputs or unobservable inputs that are corroborated by market data; and Level 3 — unobservable inputs that are not corroborated by market data. | ||||||||||||||||||||
As of December 28, 2013, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 50,735 | $ | 50,735 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 53,856 | 53,856 | — | — | ||||||||||||||||
Derivative assets | 2,942 | — | 2,942 | — | ||||||||||||||||
Total assets at fair value | $ | 107,533 | $ | 104,591 | $ | 2,942 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 8,887 | $ | — | $ | 8,887 | $ | — | ||||||||||||
Contingent consideration | 3,650 | — | — | 3,650 | ||||||||||||||||
Total liabilities at fair value | $ | 12,537 | $ | — | $ | 8,887 | $ | 3,650 | ||||||||||||
(a) Included in other current assets in our consolidated balance sheet. | ||||||||||||||||||||
As of December 29, 2012, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
December 29, 2012 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 189,381 | $ | 189,381 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 46,938 | 46,938 | — | — | ||||||||||||||||
Derivative assets | 2,897 | — | 2,897 | — | ||||||||||||||||
Total assets at fair value | $ | 239,216 | $ | 236,319 | $ | 2,897 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 3,776 | $ | — | $ | 3,776 | $ | — | ||||||||||||
Total liabilities at fair value | $ | 3,776 | $ | — | $ | 3,776 | $ | — | ||||||||||||
(a) Included in other current assets in our consolidated balance sheet. | ||||||||||||||||||||
The fair value of the cash equivalents approximated cost and the gain or loss on the marketable trading securities was recognized in the consolidated statement of income to reflect these investments at fair value. | ||||||||||||||||||||
Our senior unsecured notes due in 2022 and 2017 are stated at amortized cost, and their respective fair values were determined based on Level 2 criteria. The fair values and carrying values of these notes are shown in the table below: | ||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 300,000 | $ | 318,000 | $ | — | $ | 318,000 | $ | — | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 298,454 | 301,200 | — | 301,200 | — | |||||||||||||||
$ | 598,454 | $ | 619,200 | $ | — | $ | 619,200 | $ | — | |||||||||||
December 29, 2012 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 300,000 | $ | 326,000 | $ | — | $ | 326,000 | $ | — | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 298,275 | 307,000 | — | 307,000 | — | |||||||||||||||
$ | 598,275 | $ | 633,000 | $ | — | $ | 633,000 | $ | — | |||||||||||
The carrying amounts of our trade accounts receivable, accounts payable and other accrued expenses approximate fair value because of the short maturity of these items. Our North American, European and Asia-Pacific revolving trade accounts receivable-backed financing programs bear interest at variable rates based on designated commercial paper rates and local reference rates, respectively, plus a predetermined fixed margin. The interest rates of our revolving unsecured credit facilities and other debt are dependent upon the local short-term bank indicator rate for a particular currency, which also resets regularly. The carrying amounts of all these facilities approximate their fair value because of the revolving nature of the borrowings and because the all-in rate (consisting of variable rates and fixed margin) adjusts regularly to reflect current market rates with appropriate consideration for our credit profile. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
Our Brazilian subsidiary has received a number of tax assessments including the following: (1) a 2005 Federal import tax assessment claiming certain commercial taxes totaling Brazilian Reais 12,714 ($5,401 at December 28, 2013 exchange rates) were due on the import of software acquired from international vendors for the period January through September of 2002; (2) a 2007 Sao Paulo Municipal tax assessment claiming Brazilian Reais 29,111 ($12,368 at December 28, 2013 exchange rates) of service taxes were due on the resale of acquired software covering years 2002 through 2006, plus Brazilian Reais 25,972 ($11,034 at December 28, 2013 exchange rates) of associated penalties; (3) a 2011 Federal income tax assessment, a portion of which claims statutory penalties totaling Brazilian Reais 15,900 ($6,755 at December 28, 2013 exchange rates) for delays in providing certain electronic files during the audit of tax years 2008 and 2009, which was conducted through the course of 2011; (4) a 2012 Sao Paulo municipal tax assessment claiming Brazilian Reais 2,996 ($1,272 at December 28, 2013 exchange rates) of service taxes due on the importation of software covering the year 2007 plus Brazilian Reais 1,498 ($636 at December 28, 2013 exchange rates) of associated penalties; and (5) a 2013 Sao Paulo municipal tax assessment claiming Brazilian Reais 10,725 ($4,556 at December 28, 2013 exchange rates) of service taxes due on the importation of software covering the years 2008, 2009, 2010 and January through May 2011 plus Brazilian Reais 5,362 ($2,278 at December 28, 2013 exchange rates) of associated penalties. While we will continue to vigorously pursue administrative and, if applicable, judicial action in defending against the 2005 Federal import tax assessment, we continue to maintain a reserve for the full tax amount assessed at December 28, 2013 in item (1) above. After working with our advisors, we believe the other matters noted above do not represent a probable loss. | ||||
In addition to the amounts described above, incremental charges for possible penalties, interest and inflationary adjustments could be imposed in an amount up to Brazilian Reais 206,701 ($87,815 at December 28, 2013 exchange rates) for these matters. We believe we have good defenses against each matter and do not believe it is probable that we will suffer a material loss for these matters. | ||||
There are various other claims, lawsuits and pending actions against us incidental to our operations. It is the opinion of management that the ultimate resolution of these matters will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. However, we can make no assurances that we will ultimately be successful in our defense of any of these matters. | ||||
As is customary in the IT distribution industry, we have arrangements with certain finance companies that provide inventory-financing facilities for our customers. In conjunction with certain of these arrangements, we have agreements with the finance companies that would require us to repurchase certain inventory, which might be repossessed from the customers by the finance companies. Due to various reasons, including among other items, the lack of information regarding the amount of saleable inventory purchased from us still on hand with the customer at any point in time, repurchase obligations relating to inventory cannot be reasonably estimated. Repurchases of inventory by us under these arrangements have been insignificant to date. | ||||
We have guarantees to third parties that provide financing to a limited number of our customers. Net sales under these arrangements accounted for less than one percent of our consolidated net sales for 2013, 2012 and 2011. The guarantees require us to reimburse the third party for defaults by these customers up to an aggregate of $5,600. The fair value of these guarantees has been recognized as cost of sales to these customers and is included in other accrued liabilities. | ||||
We lease the majority of our facilities and certain equipment under noncancelable operating leases. Rental expense, including obligations related to IT outsourcing services, for the years ended 2013, 2012 and 2011 was $113,709, $96,669 and $93,725, respectively. | ||||
Future minimum rental commitments on operating leases that have remaining noncancelable lease terms as of December 28, 2013 are as follows: | ||||
2014 | $ | 102,351 | ||
2015 | 71,865 | |||
2016 | 59,779 | |||
2017 | 50,019 | |||
2018 | 41,983 | |||
Thereafter | 96,450 | |||
$ | 422,447 | |||
The above minimum payments have not been reduced by minimum sublease rental income of $6,980 due in the future under noncancelable sublease agreements as follows: $4,277 and $2,703 in 2014 and 2015, respectively. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||
Segment Information | |||||||||||||||||||||
Subsequent to our acquisition of BrightPoint, we have operated predominantly in the following industry segments: (1) distribution of IT products and supply chain solutions worldwide and (2) distribution of mobile devices as well as device lifecycle services and logistics solutions. Our IT distribution reporting segments are based on geographic location, and the measure of segment profit is income from operations. | |||||||||||||||||||||
Geographic areas in which we operated our IT distribution reporting segments during 2013 include North America (the United States and Canada), Europe (Austria, Belgium, France, Germany, Hungary, Italy, Israel, the Netherlands, Spain, Sweden, Switzerland and the United Kingdom), Asia-Pacific (Australia, the People’s Republic of China including Hong Kong, India, Indonesia, Malaysia, New Zealand, Singapore, Thailand, Lebanon, United Arab Emirates, Turkey, Egypt and South Africa), and Latin America (Brazil, Chile, Colombia, Mexico, Peru, and our Latin American export operations in Miami). | |||||||||||||||||||||
Our BrightPoint reporting segment has operations in the following geographic areas: the United States, Denmark, Finland, Germany, Norway, Poland, Portugal, Senegal, Slovakia, South Africa, Spain, Sweden, Switzerland, the United Arab Emirates, the United Kingdom, Australia, Hong Kong, India, Malaysia, New Zealand and Singapore. | |||||||||||||||||||||
We do not allocate stock-based compensation recognized (see Note 12) to our operating units; therefore, we are reporting this as a separate amount. | |||||||||||||||||||||
Financial information by reporting segment is as follows: | |||||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net sales | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 16,433,994 | $ | 15,880,103 | $ | 15,250,560 | |||||||||||||||
Europe | 10,843,514 | 10,614,811 | 11,371,043 | ||||||||||||||||||
Asia-Pacific | 8,698,116 | 8,347,170 | 7,920,649 | ||||||||||||||||||
Latin America | 2,051,899 | 1,943,841 | 1,786,449 | ||||||||||||||||||
BrightPoint | 4,526,395 | 1,041,374 | — | ||||||||||||||||||
Total | $ | 42,553,918 | $ | 37,827,299 | $ | 36,328,701 | |||||||||||||||
Income from operations | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 296,263 | $ | 283,689 | $ | 281,155 | |||||||||||||||
Europe | 84,966 | 103,278 | 136,306 | ||||||||||||||||||
Asia-Pacific | 74,394 | 53,613 | 46,508 | ||||||||||||||||||
Latin America | 43,080 | 37,700 | 25,488 | ||||||||||||||||||
BrightPoint | 46,512 | 11,290 | — | ||||||||||||||||||
Stock-based compensation expense | (30,340 | ) | (27,218 | ) | (30,811 | ) | |||||||||||||||
Total | $ | 514,875 | $ | 462,352 | $ | 458,646 | |||||||||||||||
Capital expenditures | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 62,513 | $ | 64,529 | $ | 91,873 | |||||||||||||||
Europe | 6,498 | 4,420 | 8,745 | ||||||||||||||||||
Asia-Pacific | 10,164 | 17,945 | 21,100 | ||||||||||||||||||
Latin America | 1,516 | 1,161 | 470 | ||||||||||||||||||
BrightPoint | 14,948 | 4,245 | — | ||||||||||||||||||
Total | $ | 95,639 | $ | 92,300 | $ | 122,188 | |||||||||||||||
Depreciation | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 34,282 | $ | 26,677 | $ | 27,520 | |||||||||||||||
Europe | 9,702 | 10,133 | 10,892 | ||||||||||||||||||
Asia-Pacific | 7,570 | 6,987 | 4,759 | ||||||||||||||||||
Latin America | 1,356 | 1,265 | 1,561 | ||||||||||||||||||
BrightPoint | 27,525 | 4,643 | — | ||||||||||||||||||
Total | $ | 80,435 | $ | 49,705 | $ | 44,732 | |||||||||||||||
Amortization of intangible assets | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 8,374 | $ | 6,706 | $ | 7,539 | |||||||||||||||
Europe | 2,002 | 3,857 | 2,313 | ||||||||||||||||||
Asia-Pacific | 830 | 1,079 | 1,797 | ||||||||||||||||||
Latin America | 887 | 902 | 901 | ||||||||||||||||||
BrightPoint | 36,387 | 8,167 | — | ||||||||||||||||||
Total | $ | 48,480 | $ | 20,711 | $ | 12,550 | |||||||||||||||
The integration, transition and other costs included in income from operations by reporting segments are as follows: | |||||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Integration, transition and other costs (a) | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | (17,123 | ) | $ | 8,515 | $ | — | ||||||||||||||
Europe | 5,839 | — | — | ||||||||||||||||||
Asia-Pacific | 2,210 | 43 | — | ||||||||||||||||||
Latin America | (1,033 | ) | 1,923 | — | |||||||||||||||||
BrightPoint | 10,546 | 5,884 | — | ||||||||||||||||||
Total | $ | 439 | $ | 16,365 | $ | — | |||||||||||||||
(a) Costs are primarily for legal, consulting and other costs associated with the integration of BrightPoint, acquisitions-related costs and other transition costs incurred for certain executives, charged to SG&A expenses. For the fiscal year ended December 28, 2013, also included is a gain of $28,461 and $1,033 related to the settlement of legal matters in North America and Latin America, respectively. For the fiscal year ended December 29, 2012, it also included asset impairments of $1,923 associated with our closure of in-country Argentina operations in Latin America, charged to SG&A expenses. | |||||||||||||||||||||
For a segment breakdown of reorganization costs, refer to Note 3. | |||||||||||||||||||||
Fiscal Year End | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Identifiable assets | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 3,965,210 | $ | 4,103,657 | |||||||||||||||||
Europe | 3,630,667 | 2,883,678 | |||||||||||||||||||
Asia-Pacific | 1,429,984 | 1,880,431 | |||||||||||||||||||
Latin America | 836,188 | 652,552 | |||||||||||||||||||
BrightPoint | 1,929,146 | 1,960,130 | |||||||||||||||||||
Total | $ | 11,791,195 | $ | 11,480,448 | |||||||||||||||||
Long-lived assets | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 402,823 | $ | 329,175 | |||||||||||||||||
Europe | 45,951 | 50,498 | |||||||||||||||||||
Asia-Pacific | 42,548 | 45,898 | |||||||||||||||||||
Latin America | 8,447 | 9,415 | |||||||||||||||||||
BrightPoint | 364,353 | 418,820 | |||||||||||||||||||
Total | $ | 864,122 | $ | 853,806 | |||||||||||||||||
Net sales and long-lived assets for the United States, which is our country of domicile, are as follows: | |||||||||||||||||||||
Fiscal Year End | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net sales | |||||||||||||||||||||
United States | $ | 15,667,744 | 37 | % | $ | 14,464,308 | 38 | % | $ | 13,385,690 | 37 | % | |||||||||
Outside of the United States | 26,886,174 | 63 | 23,362,991 | 62 | 22,943,011 | 63 | |||||||||||||||
Total | $ | 42,553,918 | 100 | % | $ | 37,827,299 | 100 | % | $ | 36,328,701 | 100 | % | |||||||||
Fiscal Year End | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Long-lived assets: | |||||||||||||||||||||
United States | $ | 625,719 | 72 | % | $ | 595,949 | 70 | % | |||||||||||||
Outside of the United States | 238,403 | 28 | 257,857 | 30 | |||||||||||||||||
Total | $ | 864,122 | 100 | % | $ | 853,806 | 100 | % | |||||||||||||
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||
Stock-Based Compensation | ||||||||||||||||
Our stock-based compensation expense for 2013, 2012 and 2011 was $30,340, $27,218 and $30,811, respectively, and the related income tax benefits were $9,161, $8,075 and $8,760, respectively. | ||||||||||||||||
We have elected to use the Black-Scholes option-pricing model to determine the fair value of stock options. The Black-Scholes model incorporates various assumptions including volatility, expected life, and interest rates. The expected volatility is based on the historical volatility of our common stock over the most recent period commensurate with the estimated expected life of our stock options. The expected life of an award is based on historical experience and the terms and conditions of the stock-based awards granted to employees. The fair value of options granted in 2013, 2012 and 2011 was estimated assuming no dividends and using the following weighted average assumptions: | ||||||||||||||||
Fiscal Year Ended | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Expected life of stock options | 3.1 years | 5.0 years | 5.0 years | |||||||||||||
Risk-free interest rate | 0.57% | 0.89% | 2.11% | |||||||||||||
Expected stock volatility | 25.90% | 34.60% | 32.70% | |||||||||||||
Fair value of options granted | $3.62 | $5.79 | $6.35 | |||||||||||||
Equity Incentive Plan | ||||||||||||||||
We currently have a single stock incentive plan, the Ingram Micro Inc. 2011 Incentive Plan, for the granting of equity-based incentive awards including incentive stock options, non-qualified stock options, restricted stock, restricted stock units and stock appreciation rights, among others, to key employees and members of our Board of Directors. During the second quarter of 2013, our stockholders approved an amendment of the Ingram Micro Inc. 2011 Incentive Plan (the “2011 Amended Plan”), which increased the number of shares that we may issue by 12,000. The authorized pool of shares available for grant is a fungible pool. The authorized share limit is reduced by one share for every share subject to a stock option or stock appreciation right granted and 2.37 shares for every share granted after June 8, 2011 (2.29 shares after June 7, 2013) under any award other than an option or stock appreciation right for awards. | ||||||||||||||||
We grant time- and/or performance-vested restricted stock and/or restricted stock units, in addition to stock options, to key employees and members of our Board of Directors. Options granted generally vest over a period of up to three years and have expiration dates not longer than 10 years. In 2013, a majority of the options granted had a contractual term of four years. A portion of the restricted stock and restricted stock units vest over a time period of one to three years. The remainder of the restricted stock and restricted stock units vests upon achievement of certain performance measures over a time period of one to three years. In 2013, 2012 and 2011, the performance measures for restricted stock and restricted stock units for grants to management were based on earnings growth, return on invested capital total shareholder return and profit before tax. As of December 28, 2013, approximately 13,805 shares were available for grant under the 2011 Amended Plan, taking into account granted options, time-vested restricted stock units/awards and performance-vested restricted stock units assuming maximum achievement. | ||||||||||||||||
During 2013, 2012 and 2011 previously granted restricted stock units of 2,101, 2,132 and 1,144, respectively, were converted to Class A Common Stock. Approximately 684, 683 and 326 shares, respectively, were withheld to satisfy the employees’ minimum statutory obligation for the applicable taxes and cash was remitted to the appropriate taxing authorities. Total payments for the employees’ tax obligations to the taxing authorities were approximately $13,045, $13,011 and $6,294 in 2013, 2012 and 2011, respectively. The withheld shares had the effect of share repurchases by us as they reduced and retired the number of shares that would have otherwise been issued as a result of the vesting. Of the restricted stock and/or units that were converted to Class A Common Stock, there were 1,535, 1,495 and 133 in 2013, 2012 and 2011, respectively, based on performance-based grants previously approved by the Human Resources Committee of the Board of Directors. In 2011, the Human Resources Committee of the Board of Directors determined that the performance measures for certain performance-based grants were not met, resulting in the cancellation of approximately 772 restricted stock units. | ||||||||||||||||
Stock Award Activity | ||||||||||||||||
Stock option activity under the 2011 Amended Plan was as follows for the three years ended December 28, 2013: | ||||||||||||||||
No. of Shares | Weighted- | Weighted-Average | Aggregate | |||||||||||||
Average | Remaining | Intrinsic | ||||||||||||||
Price | Contractual | Value | ||||||||||||||
Term | ||||||||||||||||
(in Years) | ||||||||||||||||
Outstanding at January 1, 2011 | 10,415 | $ | 16.41 | 3.7 | ||||||||||||
Granted | 40 | 19.62 | ||||||||||||||
Exercised | (2,397 | ) | 15.44 | |||||||||||||
Forfeited/cancelled/expired | (42 | ) | 16.25 | |||||||||||||
Outstanding at December 31, 2011 | 8,016 | 16.72 | 2.8 | |||||||||||||
Granted | 51 | 18.31 | ||||||||||||||
Exercised | (2,116 | ) | 14.8 | |||||||||||||
Forfeited/cancelled/expired | (306 | ) | 18.37 | |||||||||||||
Outstanding at December 29, 2012 | 5,645 | 17.36 | 2.7 | |||||||||||||
Granted | 1,452 | 25.7 | ||||||||||||||
Exercised | (2,619 | ) | 16.56 | |||||||||||||
Forfeited/cancelled/expired | (291 | ) | 20.14 | |||||||||||||
Outstanding at December 28, 2013 | 4,187 | 20.56 | 3.1 | $ | 15,469 | |||||||||||
Vested and expected to vest at December 28, 2013 | 4,022 | 20.34 | 3.1 | $ | 15,469 | |||||||||||
Exercisable at December 28, 2013 | 2,783 | 17.83 | 2.7 | $ | 15,444 | |||||||||||
The aggregate intrinsic value in the table above represents the difference between our closing stock price on December 28, 2013 and the option exercise price, multiplied by the number of in-the-money options on December 28, 2013. This amount changes based on the fair market value of our common stock. Total intrinsic value of stock options exercised in 2013, 2012 and 2011 was $11,655, $8,273 and $9,999, respectively. Total fair value of stock options expensed was $458, $298 and $251 for 2013, 2012 and 2011, respectively. As of December 28, 2013, the unrecognized stock-based compensation costs related to stock options was $4,803. We expect this cost to be recognized over a remaining weighted-average period of approximately 2.9 years. | ||||||||||||||||
Cash received from stock option exercises in 2013, 2012 and 2011 was $43,384, $31,335 and $39,465, respectively, and the actual benefit realized for the tax deduction from stock option exercises of the share-based payment awards totaled $3,785, $2,975 and $3,248 in 2013, 2012 and 2011, respectively. | ||||||||||||||||
The following table summarizes information about stock options outstanding and exercisable at December 28, 2013: | ||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Range of Exercise Prices | Number | Weighted- | Weighted- | Number | Weighted- | |||||||||||
Outstanding at | Average | Average | Exercisable at | Average | ||||||||||||
December 28, | Remaining | Exercise | December 28, | Exercise | ||||||||||||
2013 | Life | Price | 2013 | Price | ||||||||||||
$10.62 – $17.80 | 1,296 | 2.8 | $ | 15.96 | 1,292 | $ | 15.96 | |||||||||
$17.92 – $20.70 | 1,474 | 2.6 | 19.43 | 1,474 | 19.43 | |||||||||||
$20.80 – $21.60 | 17 | 3.2 | 21.5 | 17 | 21.5 | |||||||||||
$26.00 – $26.00 | 1,400 | 3.9 | 26 | — | — | |||||||||||
4,187 | 3.1 | 20.56 | 2,783 | 17.83 | ||||||||||||
Activity related to restricted stock and restricted stock units was as follows for the three years ended December 28, 2013: | ||||||||||||||||
Number of | Weighted- | |||||||||||||||
Shares | Average | |||||||||||||||
Grant Date | ||||||||||||||||
Fair Value | ||||||||||||||||
Non-vested at January 1, 2011 | 5,110 | $ | 10.84 | |||||||||||||
Granted | 1,961 | 19.37 | ||||||||||||||
Vested | (1,145 | ) | 9.92 | |||||||||||||
Forfeited | (1,006 | ) | 18.02 | |||||||||||||
Non-vested at December 31, 2011 | 4,920 | 12.98 | ||||||||||||||
Granted | 2,866 | 17.21 | ||||||||||||||
Vested | (2,132 | ) | 12.79 | |||||||||||||
Forfeited | (147 | ) | 17.66 | |||||||||||||
Non-vested at December 29, 2012 | 5,507 | 15.13 | ||||||||||||||
Granted | 4,071 | 19.26 | ||||||||||||||
Vested | (2,101 | ) | 18.34 | |||||||||||||
Forfeited | (447 | ) | 17.74 | |||||||||||||
Non-vested at December 28, 2013 | 7,030 | 16.39 | ||||||||||||||
As of December 28, 2013, the unrecognized stock-based compensation cost related to non-vested restricted stock and restricted stock units was $57,513. We expect this cost to be recognized over a remaining weighted-average period of approximately 1.5 years. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 28, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Employee Benefit Plans | ' |
Employee Benefit Plans | |
Our U.S.-based employee benefit plans permit eligible employees to make contributions up to certain limits, which are matched by us at stipulated percentages. Our contributions charged to expense were $4,891, $4,350 and $3,859 in 2013, 2012 and 2011, respectively. |
Common_Stock
Common Stock | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Equity [Abstract] | ' | ||||||||||
Common Stock | ' | ||||||||||
Common Stock | |||||||||||
Share Repurchase Program | |||||||||||
In October 2010, our Board of Directors authorized a $400,000 share repurchase program that has been extended to October 27, 2015, of which $124,095 was remaining for repurchase at December 28, 2013. Under the program, we may repurchase shares in the open market and through privately negotiated transactions. Our repurchases are funded with available borrowing capacity and cash. The timing and amount of specific repurchase transactions will depend upon market conditions, corporate considerations and applicable legal and regulatory requirements. Treasury shares are recorded at cost and are included as a component of stockholders’ equity in our consolidated balance sheet. We have issued shares of common stock out of our cumulative balance of treasury shares. Such shares are issued to certain of our associates upon the exercise of their options or vesting of their equity awards under the Ingram Micro Inc. 2011 Incentive Plan, as amended (see Note 12). We did not repurchase shares during the year ended December 28, 2013. | |||||||||||
Our stock repurchase and issuance activity for 2013, 2012 and 2011 are summarized as follows: | |||||||||||
Shares | Weighted- | Net Amount | |||||||||
Repurchased | Average | Repurchased | |||||||||
Price Per Share | |||||||||||
Cumulative balance at January 1, 2011 | 23,713 | $ | 16.4 | $ | 388,817 | ||||||
Repurchase of Class A Common Stock | 12,476 | 18.11 | 225,905 | ||||||||
Issuance of Class A Common Stock | (546 | ) | 19.01 | (10,391 | ) | ||||||
Cumulative balance at December 31, 2011 | 35,643 | 16.96 | 604,331 | ||||||||
Repurchase of Class A Common Stock | 2,729 | 18.32 | 50,000 | ||||||||
Issuance of Class A Common Stock | (343 | ) | 18.27 | (6,265 | ) | ||||||
Cumulative balance at December 29, 2012 | 38,029 | 17.04 | 648,066 | ||||||||
Issuance of Class A Common Stock | (508 | ) | 17.24 | (8,766 | ) | ||||||
Cumulative balance at December 28, 2013 | 37,521 | 17.04 | $ | 639,300 | |||||||
Classes of Common Stock | |||||||||||
We have two classes of Common Stock, consisting of 500,000 authorized shares of $0.01 par value Class A Common Stock and 135,000 authorized shares of $0.01 par value Class B Common Stock, and 25,000 authorized shares of $0.01 par value Preferred Stock. | |||||||||||
There were no issued and outstanding shares of Class B Common Stock or Preferred Stock during the three-year period ended December 28, 2013. The detail of changes in the number of outstanding shares of Class A Common Stock for the three-year period ended December 28, 2013, is as follows: | |||||||||||
Class A | |||||||||||
Common Stock | |||||||||||
January 1, 2011 | 158,745 | ||||||||||
Stock options exercised | 2,397 | ||||||||||
Release of restricted stock units, net of shares withheld for employee taxes | 791 | ||||||||||
Grant of restricted Class A Common Stock | 27 | ||||||||||
Repurchase of Class A Common Stock | (12,476 | ) | |||||||||
December 31, 2011 | 149,484 | ||||||||||
Stock options exercised | 2,116 | ||||||||||
Release of restricted stock units, net of shares withheld for employee taxes | 1,432 | ||||||||||
Grant of restricted Class A Common Stock | 17 | ||||||||||
Repurchase of Class A Common Stock | (2,729 | ) | |||||||||
29-Dec-12 | 150,320 | ||||||||||
Stock options exercised | 2,619 | ||||||||||
Release of restricted stock units, net of shares withheld for employee taxes | 1,402 | ||||||||||
Grant of restricted Class A Common Stock | 15 | ||||||||||
Repurchase of Class A Common Stock | — | ||||||||||
28-Dec-13 | 154,356 | ||||||||||
Legal_Settlement
Legal Settlement | 12 Months Ended |
Dec. 28, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Legal Settlement | ' |
Note 15 - Legal Settlement | |
We have been a claimant in a class action proceeding seeking damages from certain manufacturers of LCD flat panel displays. On July 12, 2013, the federal district judge overseeing the proceeding issued an order approving a plan of distribution to the class claimants. In July 2013, we received a distribution of $29,494, net of all attorney fees and expenses, which was reflected as a reduction of selling, general and administrative expenses in 2013. In January 2014, the federal district judge overseeing the proceeding issued an order approving a final distribution which entitles us to an incremental award of approximately $6,500, net of all attorney fees and expenses, which is expected to be received and recognized in the first quarter of 2014. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | |||||||||||||||||||
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||||
(In 000s) | ||||||||||||||||||||
Description | Balance at | Charged to | Deductions | Other(*) | Balance | |||||||||||||||
Beginning | Costs and | at End of | ||||||||||||||||||
of Year | Expenses | Year | ||||||||||||||||||
Allowance for doubtful accounts: | ||||||||||||||||||||
2013 | $ | 63,815 | $ | 13,564 | $ | (21,217 | ) | $ | 297 | $ | 56,459 | |||||||||
2012 | 50,635 | 18,054 | (19,177 | ) | 14,303 | 63,815 | ||||||||||||||
2011 | 67,006 | 7,960 | (21,841 | ) | (2,490 | ) | 50,635 | |||||||||||||
Allowance for sales returns: | ||||||||||||||||||||
2013 | $ | 14,219 | $ | 202,674 | $ | (204,133 | ) | $ | 332 | $ | 13,092 | |||||||||
2012 | 9,601 | 170,608 | (169,483 | ) | 3,493 | 14,219 | ||||||||||||||
2011 | 8,788 | 203,567 | (202,532 | ) | (222 | ) | 9,601 | |||||||||||||
(*) | “Other” includes recoveries, acquisitions, and the effect of fluctuation in foreign currency. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Basis of Consolidation | ' | |||||||||||||||
Basis of Consolidation | ||||||||||||||||
The consolidated financial statements include the accounts of Ingram Micro Inc. and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Unless the context otherwise requires, the use of the terms “Ingram Micro,” “we,” “us” and “our” in these notes to the consolidated financial statements refers to Ingram Micro Inc. and its subsidiaries. | ||||||||||||||||
Fiscal Year | ' | |||||||||||||||
Fiscal Year | ||||||||||||||||
Our fiscal year is a 52- or 53-week period ending on the Saturday nearest to December 31. All references herein to “2013,” “2012,” and “2011” represent the 52-week fiscal years ended December 28, 2013, December 29, 2012 and December 31, 2011, respectively. | ||||||||||||||||
Use of Estimates | ' | |||||||||||||||
Use of Estimates | ||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S.”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the financial statement date, and reported amounts of revenue and expenses during the reporting period. We review our estimates and assumptions on an on-going basis. Significant estimates primarily relate to the realizable value of accounts receivable, vendor programs, inventory, goodwill, intangible and other long-lived assets, income taxes and contingencies and litigation. Actual results could differ from these estimates. | ||||||||||||||||
Revenue Recognition | ' | |||||||||||||||
Revenue Recognition | ||||||||||||||||
Revenue is recognized when: an arrangement exists; delivery has occurred, including transfer of title and risk of loss for product sales, or services have been rendered for service revenues; the price to the buyer is fixed or determinable; and collection is reasonably assured. Service revenues represent less than 10% of total net sales for 2013, 2012 and 2011. We, under specific conditions, permit our customers to return or exchange products. The provision for estimated sales returns is recorded concurrently with the recognition of revenue. The net impact on gross margin from estimated sales returns is included in allowances against trade accounts receivable in the consolidated balance sheet. We also have limited contractual relationships with certain of our customers and suppliers whereby we assume an agency relationship in the transaction. In such arrangements, we recognize as revenues the net fee associated with serving as an agent. | ||||||||||||||||
Vendor Programs | ' | |||||||||||||||
Vendor Programs | ||||||||||||||||
Funds received from vendors for price protection, product rebates, marketing/promotion, infrastructure reimbursement and meet-competition programs are recorded as adjustments to product costs, revenue, or selling, general and administrative (“SG&A”) expenses according to the nature of the program. Some of these programs may extend over one or more quarterly reporting periods. We accrue rebates or other vendor incentives as earned based on sales of qualifying products or as services are provided in accordance with the terms of the related program. | ||||||||||||||||
We sell products purchased from many vendors, but generated approximately 15%, 18% and 21% of our net sales in 2013, 2012 and 2011, respectively, from products purchased from Hewlett-Packard Company, and approximately 10% of our consolidated net sales in 2012 from products purchased from Apple Inc. The year-over-year decreases in products purchased from these vendors, as a percentage of net sales, for the periods discussed above reflects the higher mix of products purchased from other vendors as a result of changes in the market in general and our acquisition of BrightPoint which does not have significant products purchased from these vendors. There were no other vendors whose products represented 10% or more of our net sales for each of the last three fiscal years. | ||||||||||||||||
Warranties | ' | |||||||||||||||
Warranties | ||||||||||||||||
Our suppliers generally warrant the products distributed by us and allow returns of defective products, including those that have been returned to us by our customers. We generally do not independently warrant the products we distribute; however, local laws might impose warranty obligations upon distributors (such as in the case of supplier liquidation). We are obligated to provide warranty protection for sales of certain IT products within the European Union (“EU”) for up to two years as required under the EU directive where vendors have not affirmatively agreed to provide pass-through protection. In addition, we warrant the services we provide, products that we build-to-order from components purchased from other sources, and our own branded products. Provision for estimated warranty costs is recorded at the time of sale and periodically adjusted to reflect actual experience. Warranty expense and the related obligations are not material to our consolidated financial statements. | ||||||||||||||||
Foreign Currency Translation and Remeasurement | ' | |||||||||||||||
Foreign Currency Translation and Remeasurement | ||||||||||||||||
Financial statements of our foreign subsidiaries, for which the functional currency is the local currency, are translated into U.S. dollars using the exchange rate at each balance sheet date for assets and liabilities and a weighted average exchange rate for each period for statement of income items. Translation adjustments are recorded in accumulated other comprehensive income, a component of stockholders’ equity. The functional currency of a few operations within our Europe, Asia-Pacific and Latin America regions is the U.S. dollar; accordingly, the monetary assets and liabilities of these subsidiaries are remeasured into U.S. dollars at the exchange rate in effect at the balance sheet date. Revenues, expenses, gains or losses are remeasured at the average exchange rate for the period, and nonmonetary assets and liabilities are remeasured at historical rates. The resultant remeasurement gains and losses of these operations as well as gains and losses from foreign currency transactions are included in the consolidated statement of income. | ||||||||||||||||
Cash and Cash Equivalents | ' | |||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
We consider all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents. | ||||||||||||||||
Book overdrafts of $347,837 and $415,207 as of December 28, 2013 and December 29, 2012, respectively, represent checks issued on disbursement bank accounts but not yet paid by such banks. These amounts are classified as accounts payable in our consolidated balance sheet. We typically fund these overdrafts through normal collections of funds or transfers from bank balances at other financial institutions. Under the terms of our facilities with the banks, the respective financial institutions are not legally obligated to honor the book overdraft balances as of December 28, 2013 and December 29, 2012, or any balance on any given date. | ||||||||||||||||
Trade Accounts Receivable Factoring Programs | ' | |||||||||||||||
Trade Accounts Receivable Factoring Programs | ||||||||||||||||
We have several uncommitted factoring programs under which trade accounts receivable of two large customers may be sold, without recourse, to financial institutions. Available capacity under these programs is dependent on the level of our trade accounts receivable eligible to be sold into these programs and the financial institutions’ willingness to purchase such receivables. At December 28, 2013 and December 29, 2012, we had a total of $381,451 and $242,626, respectively, of trade accounts receivable sold to and held by the financial institutions under these programs. Factoring fees of $2,851, $3,822 and $3,068 incurred in 2013, 2012 and 2011, respectively, related to the sale of trade accounts receivable under both facilities are included in “other” in the other expense (income) section of our consolidated statement of income. | ||||||||||||||||
Inventory | ' | |||||||||||||||
Inventory | ||||||||||||||||
Our inventory consists of finished goods purchased from various vendors for resale. Inventory is stated at the lower of average cost or market, and is determined from the price we pay vendors, including freight and duties. We do not include labor, overhead or other general or administrative costs in our inventory. | ||||||||||||||||
Property and Equipment | ' | |||||||||||||||
Property and Equipment | ||||||||||||||||
Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives noted below. We also capitalize computer software costs that meet both the definition of internal-use software and defined criteria for capitalization. Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life. Depreciable lives of property and equipment are as follows: | ||||||||||||||||
Buildings | 30-40 years | |||||||||||||||
Leasehold improvements | 3-17 years | |||||||||||||||
Distribution equipment | 5-10 years | |||||||||||||||
Computer equipment and software | 3-10 years | |||||||||||||||
Maintenance, repairs and minor renewals are charged to expense as incurred. Additions, major renewals and betterments to property and equipment are capitalized. | ||||||||||||||||
Long-Lived and Intangible Assets | ' | |||||||||||||||
Long-Lived and Intangible Assets | ||||||||||||||||
We assess potential impairments to our long-lived and intangible assets when events or changes in circumstances indicate that the carrying amount may not be fully recoverable. If required, an impairment loss is recognized as the difference between the carrying value and the fair value of the assets. The gross carrying amounts of finite-lived identifiable intangible assets of $496,789 and $445,385 at December 28, 2013 and December 29, 2012, respectively, are amortized over their remaining estimated lives ranging up to 20 years with the predominant amounts having lives of 3 to 10 years. The net carrying amount was $375,423 and $372,482 at December 28, 2013 and December 29, 2012, respectively. Amortization expense was $48,480, $20,711 and $12,550 for 2013, 2012 and 2011, respectively. Future minimum amortization expense of finite-lived identifiable intangible assets that we expect to recognize over the next five years and thereafter are as follows: | ||||||||||||||||
2014 | $ | 57,038 | ||||||||||||||
2015 | 54,702 | |||||||||||||||
2016 | 48,189 | |||||||||||||||
2017 | 48,094 | |||||||||||||||
2018 | 47,259 | |||||||||||||||
Thereafter | 120,141 | |||||||||||||||
$ | 375,423 | |||||||||||||||
There were no impairments to our long-lived and other identifiable intangible assets in 2013, 2012 and 2011. | ||||||||||||||||
Goodwill | ' | |||||||||||||||
Goodwill | ||||||||||||||||
Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets acquired in an acquisition and is reviewed annually for potential impairment, or when circumstances warrant. | ||||||||||||||||
Additions to goodwill in 2013 were due to our acquisitions of SoftCom, Inc. ("SoftCom"), CloudBlue Technologies, Inc. ("CloudBlue") and Shipwire, Inc. ("Shipwire") in North America during the third and fourth quarters of 2013. Additionally, we adjusted goodwill in 2013 to reflect the finalization of the allocation of purchase price related to the fourth quarter 2012 acquisitions of BrightPoint, Aptec Holdings Ltd. ("Aptec") and Promark Technology Inc. ("Promark"). The adjustments include the finalization of the valuation of a noncontrolling interest in one of the acquired BrightPoint subsidiaries as well as the assessment of certain tax matters (see Note 4 "Acquisitions, Goodwill and Intangible Assets"). | ||||||||||||||||
Goodwill is required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that goodwill may be impaired. We perform our annual goodwill impairment review during our fiscal fourth quarter, using a combination of the income and market approach. Our annual review indicated that we had no impairment of goodwill, and all of our reporting units had estimated fair values that were in excess of their carrying values, including goodwill. In addition, we regularly evaluate whether events and circumstances have occurred that may indicate a potential change in recoverability of goodwill, including a deterioration in general economic conditions, an increased competitive environment, a change in management, key personnel, strategy, vendors, or customers, negative or declining cash flows, or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods. | ||||||||||||||||
The changes in the carrying amount of goodwill for 2013 are as follows: | ||||||||||||||||
North | Asia- | BrightPoint | Total | |||||||||||||
America | Pacific | |||||||||||||||
Balance at December 31, 2011 | $ | — | $ | — | $ | — | $ | — | ||||||||
Acquisitions | 4,555 | 4,951 | 418,895 | 428,401 | ||||||||||||
Balance at December 29, 2012 | $ | 4,555 | $ | 4,951 | $ | 418,895 | $ | 428,401 | ||||||||
Acquisitions | 105,064 | — | — | 105,064 | ||||||||||||
Adjustments/reclassifications | (800 | ) | 1,671 | (6,810 | ) | (5,939 | ) | |||||||||
Balance at December 28, 2013 | $ | 108,819 | $ | 6,622 | $ | 412,085 | $ | 527,526 | ||||||||
Concentration of Credit Risk | ' | |||||||||||||||
Concentration of Credit Risk | ||||||||||||||||
Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and cash equivalents, trade accounts receivable from customers and vendors, and derivative financial instruments. Our cash and cash equivalents are deposited and/or invested with various financial institutions globally that are monitored by us regularly for credit quality. Our trade accounts receivable reflect a large number of customers and dispersed across wide geographic areas, none of which has accounted for 10% or more of our consolidated net sales in 2013, 2012 and 2011 and no customer accounts receivable balance was greater than 10% of our total trade accounts receivable at December 28, 2013 nor December 29, 2012. We perform ongoing credit evaluations of our customers’ financial conditions, obtain credit insurance in many locations and require collateral in certain circumstances. We maintain an allowance for estimated credit losses. | ||||||||||||||||
Derivative Financial Instruments | ' | |||||||||||||||
Derivative Financial Instruments | ||||||||||||||||
We operate in various locations around the world. We reduce our exposure to fluctuations in foreign exchange rates by creating offsetting positions through the use of derivative financial instruments in situations where there are not offsetting balances that create a natural hedge. The market risk related to the foreign exchange agreements is offset by changes in the valuation of the underlying items being hedged. In accordance with our policy, we do not use derivative financial instruments for trading or speculative purposes, nor are we a party to leveraged derivatives. | ||||||||||||||||
Foreign exchange risk is managed primarily by using forward contracts to hedge foreign currency-denominated receivables, payables and intercompany loans and expenses. Interest rate swaps and forward contracts are used to hedge foreign currency-denominated principal and interest payments related to intercompany loans. | ||||||||||||||||
All derivatives are recorded in our consolidated balance sheet at fair value. The estimated fair value of derivative financial instruments represents the amount required to enter into similar offsetting contracts with similar remaining maturities based on market-derived prices. Changes in the fair value of derivatives not designated as hedging instruments are recorded in current earnings. Changes in the fair value of derivatives designated as hedging instruments are reflected in accumulated other comprehensive income. | ||||||||||||||||
The notional amount of forward exchange contracts is the amount of foreign currency bought or sold at maturity. The notional amount of interest rate swaps is the underlying principal amount used in determining the interest payments exchanged over the life of the swap. Notional amounts are indicative of the extent of our involvement in the various types and uses of derivative financial instruments but are not a measure of our exposure to credit or market risks through our use of derivatives. | ||||||||||||||||
Credit exposure for derivative financial instruments is limited to the amounts, if any, by which the counterparties’ obligations under the contracts exceed our obligations to the counterparties. We manage the potential risk of credit losses through careful evaluation of counterparty credit standing, selection of counterparties from a limited group of financial institutions and other contract provisions including collateral deposits. | ||||||||||||||||
Treasury Stock | ' | |||||||||||||||
Treasury Stock | ||||||||||||||||
We account for repurchased shares of common stock as treasury stock. Treasury shares are recorded at cost and are included as a component of stockholders’ equity in our consolidated balance sheet. | ||||||||||||||||
Comprehensive Income | ' | |||||||||||||||
Comprehensive Income | ||||||||||||||||
Comprehensive income consists primarily of our net income, foreign currency translation adjustments and, fair value adjustments to our interest rate swap agreement designated as a cash flow hedge, which we settled in September 2011. | ||||||||||||||||
Earnings Per Share | ' | |||||||||||||||
Earnings Per Share | ||||||||||||||||
We report a dual presentation of Basic Earnings Per Share (“Basic EPS”) and Diluted Earnings Per Share (“Diluted EPS”). Basic EPS excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding during the reported period. Diluted EPS uses the treasury stock method to compute the potential dilution that could occur if stock-based awards and other commitments to issue common stock were exercised. | ||||||||||||||||
The computation of Basic EPS and Diluted EPS is as follows: | ||||||||||||||||
Fiscal Year Ended | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Net income | $ | 310,583 | $ | 305,909 | $ | 244,240 | ||||||||||
Weighted average shares | 152,900 | 150,654 | 155,882 | |||||||||||||
Basic earnings per share | $ | 2.03 | $ | 2.03 | $ | 1.57 | ||||||||||
Weighted average shares including the dilutive effect of stock-based awards (3,372, 3,063 and 3,706 for 2013, 2012 and 2011, respectively) | 156,272 | 153,717 | 159,588 | |||||||||||||
Diluted earnings per share | $ | 1.99 | $ | 1.99 | $ | 1.53 | ||||||||||
There were approximately 2,069, 3,487 and 2,671 stock-based awards in 2013, 2012 and 2011, respectively, which were not included in the computation of Diluted EPS because the exercise price was greater than the average market price of the Class A Common Stock, thereby resulting in an antidilutive effect. | ||||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ||||||||||||||||
We estimate income taxes in each of the taxing jurisdictions in which we operate. This process involves estimating our actual current tax expense together with assessing the future tax impact of any differences resulting from the different treatment of certain items, such as the timing for recognizing revenues and expenses for tax versus financial reporting purposes. These differences may result in deferred tax assets and liabilities, which are included in our consolidated balance sheet. We are required to assess the likelihood that our deferred tax assets, which include net operating loss carryforwards, tax credits and temporary differences that are expected to be deductible in future years, will be recoverable from future taxable income. In making that assessment, we consider the nature of the deferred tax assets and related statutory limits on utilization, recent operating results, future market growth, forecasted earnings, future taxable income, the mix of earnings in the jurisdictions in which we operate and prudent and feasible tax planning strategies. If, based upon available evidence, recovery of the full amount of the deferred tax assets is not likely; we provide a valuation allowance on any amount not likely to be realized. | ||||||||||||||||
Our effective tax rate includes the impact of not providing taxes on undistributed foreign earnings considered indefinitely reinvested. Material changes in our estimates of cash, working capital and long-term investment requirements in the various jurisdictions in which we do business could impact our effective tax rate if we no longer consider our foreign earnings to be indefinitely reinvested. | ||||||||||||||||
The provision for tax liabilities and recognition of tax benefits involves evaluations and judgments of uncertainties in the interpretation of complex tax regulations by various taxing authorities. In situations involving uncertain tax positions related to income tax matters, we do not recognize benefits unless their sustainability is deemed more likely than not. As additional information becomes available, or these uncertainties are resolved with the taxing authorities, revisions to these liabilities or benefits may be required, resulting in additional provision for or benefit from income taxes reflected in our consolidated statement of income. | ||||||||||||||||
Accounting for Stock-Based Compensation | ' | |||||||||||||||
Accounting for Stock-Based Compensation | ||||||||||||||||
We use the Black-Scholes option-pricing model to determine the fair value of stock options and the closing market price of our common stock on the date of the grant to determine the fair value of our restricted stock and restricted stock units. Stock-based compensation expense is recorded for all stock options, restricted stock and restricted stock units that are ultimately expected to vest as the requisite service is rendered. We recognize these compensation costs, net of an estimated forfeiture rate, on a straight-line basis over the requisite service period of the award, which is the vesting term of outstanding stock-based awards. We estimate the forfeiture rate based on our historical experience during the preceding five fiscal years. | ||||||||||||||||
New Accounting Standards Policy [Text Block] | ' | |||||||||||||||
New Accounting Standards | ||||||||||||||||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which requires a reporting entity to present an unrecognized tax benefit as a liability in the financial statements separate from deferred tax assets if a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available as of the reporting date to settle taxes that would result from the disallowance of the tax position or if a reporting entity does not intend to use the deferred tax asset for such purpose. This guidance will be effective for us beginning December 29, 2013, the first day of fiscal year 2014 and is not expected to have a material impact on our consolidated financial statements. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Depreciable Lives of Property and Equipment | ' | |||||||||||||||
Depreciable lives of property and equipment are as follows: | ||||||||||||||||
Buildings | 30-40 years | |||||||||||||||
Leasehold improvements | 3-17 years | |||||||||||||||
Distribution equipment | 5-10 years | |||||||||||||||
Computer equipment and software | 3-10 years | |||||||||||||||
Schedule of Finite-Lived Identifiable Intangible Assets Future Minimum Amortization Expense | ' | |||||||||||||||
Future minimum amortization expense of finite-lived identifiable intangible assets that we expect to recognize over the next five years and thereafter are as follows: | ||||||||||||||||
2014 | $ | 57,038 | ||||||||||||||
2015 | 54,702 | |||||||||||||||
2016 | 48,189 | |||||||||||||||
2017 | 48,094 | |||||||||||||||
2018 | 47,259 | |||||||||||||||
Thereafter | 120,141 | |||||||||||||||
$ | 375,423 | |||||||||||||||
Schedule of Changes in Carrying Amount of Goodwill | ' | |||||||||||||||
The changes in the carrying amount of goodwill for 2013 are as follows: | ||||||||||||||||
North | Asia- | BrightPoint | Total | |||||||||||||
America | Pacific | |||||||||||||||
Balance at December 31, 2011 | $ | — | $ | — | $ | — | $ | — | ||||||||
Acquisitions | 4,555 | 4,951 | 418,895 | 428,401 | ||||||||||||
Balance at December 29, 2012 | $ | 4,555 | $ | 4,951 | $ | 418,895 | $ | 428,401 | ||||||||
Acquisitions | 105,064 | — | — | 105,064 | ||||||||||||
Adjustments/reclassifications | (800 | ) | 1,671 | (6,810 | ) | (5,939 | ) | |||||||||
Balance at December 28, 2013 | $ | 108,819 | $ | 6,622 | $ | 412,085 | $ | 527,526 | ||||||||
Computation of Basic EPS and Diluted EPS | ' | |||||||||||||||
The computation of Basic EPS and Diluted EPS is as follows: | ||||||||||||||||
Fiscal Year Ended | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Net income | $ | 310,583 | $ | 305,909 | $ | 244,240 | ||||||||||
Weighted average shares | 152,900 | 150,654 | 155,882 | |||||||||||||
Basic earnings per share | $ | 2.03 | $ | 2.03 | $ | 1.57 | ||||||||||
Weighted average shares including the dilutive effect of stock-based awards (3,372, 3,063 and 3,706 for 2013, 2012 and 2011, respectively) | 156,272 | 153,717 | 159,588 | |||||||||||||
Diluted earnings per share | $ | 1.99 | $ | 1.99 | $ | 1.53 | ||||||||||
Reorganization_Costs_Tables
Reorganization Costs (Tables) | 12 Months Ended | ||||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||||
Remaining Liabilities and Payment Activities | ' | ||||||||||||||||||||||
The remaining liabilities and 2013 activities associated with the aforementioned actions are summarized in the table below: | |||||||||||||||||||||||
Reorganization Liability | |||||||||||||||||||||||
Remaining Liability at December 29, 2012 | Expenses (Income), Net | Amounts Paid | Foreign Currency Translation (a) | Remaining Liability at December 28, 2013 | |||||||||||||||||||
and Charged | |||||||||||||||||||||||
Against the | |||||||||||||||||||||||
Liability | |||||||||||||||||||||||
2013 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | $ | — | $ | 25,327 | $ | (12,615 | ) | $ | 177 | $ | 12,889 | ||||||||||||
Facility Costs | — | 9,329 | (3,438 | ) | (385 | ) | $ | 5,506 | |||||||||||||||
Subtotal | — | 34,656 | (16,053 | ) | (208 | ) | 18,395 | (b) | |||||||||||||||
2012 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | 1,826 | (200 | ) | (604 | ) | 37 | 1,059 | (c) | |||||||||||||||
2011 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | 79 | — | (79 | ) | — | — | |||||||||||||||||
2009 and prior reorganization actions | |||||||||||||||||||||||
Facility Costs | 6,214 | 173 | (3,137 | ) | (230 | ) | $ | 3,020 | (d) | ||||||||||||||
$ | 8,119 | $ | 34,629 | $ | (19,873 | ) | $ | (401 | ) | $ | 22,474 | ||||||||||||
(a)Reflects the net foreign currency impact on the U.S. dollar liability. | |||||||||||||||||||||||
(b)We expect the remaining liabilities to be substantially utilized by the end of 2016. | |||||||||||||||||||||||
(c)We expect the remaining liabilities to be substantially utilized by the end of 2014. | |||||||||||||||||||||||
(d)We expect the remaining liabilities to be fully utilized by the end of 2015. | |||||||||||||||||||||||
Cost Reduction Program [Member] | ' | ||||||||||||||||||||||
Reorganization Costs and Activities | ' | ||||||||||||||||||||||
A summary of the reorganization and expense-reduction program costs incurred in 2013, 2012 and 2011 are as follows: | |||||||||||||||||||||||
Reorganization costs | |||||||||||||||||||||||
Headcount Reduction | Employee Termination Benefits | Facility Costs | Total Reorganization Costs | Adjustments to Prior Year Costs | Total Costs | ||||||||||||||||||
Fiscal year ended December 28, 2013 | |||||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||||
North America | $ | 3,698 | $ | — | $ | 3,698 | $ | 173 | $ | 3,871 | |||||||||||||
Europe | 11,316 | — | 11,316 | (188 | ) | 11,128 | |||||||||||||||||
Asia-Pacific | 952 | 4,259 | 5,211 | (12 | ) | 5,199 | |||||||||||||||||
Latin America | — | — | — | — | — | ||||||||||||||||||
BrightPoint | 9,361 | 5,070 | 14,431 | — | 14,431 | ||||||||||||||||||
Total | 628 | $ | 25,327 | $ | 9,329 | $ | 34,656 | $ | (27 | ) | $ | 34,629 | |||||||||||
Fiscal year ended December 29, 2012 | |||||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||||
North America | $ | 34 | $ | — | $ | 34 | $ | 779 | $ | 813 | |||||||||||||
Europe | 3,087 | — | 3,087 | (32 | ) | 3,055 | |||||||||||||||||
Asia-Pacific | 4,523 | — | 4,523 | (115 | ) | 4,408 | |||||||||||||||||
Latin America | 432 | — | 432 | — | 432 | ||||||||||||||||||
BrightPoint | 668 | 300 | 968 | — | 968 | ||||||||||||||||||
Total | 359 | $ | 8,744 | $ | 300 | $ | 9,044 | $ | 632 | $ | 9,676 | ||||||||||||
Fiscal year ended December 31, 2011 | |||||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||||
North America | $ | 1,216 | $ | — | $ | 1,216 | $ | (467 | ) | $ | 749 | ||||||||||||
Europe | 2,070 | — | 2,070 | (617 | ) | 1,453 | |||||||||||||||||
Asia-Pacific | 2,730 | — | 2,730 | — | 2,730 | ||||||||||||||||||
Latin America | 199 | — | 199 | — | 199 | ||||||||||||||||||
Total | 123 | $ | 6,215 | $ | — | $ | 6,215 | $ | (1,084 | ) | $ | 5,131 | |||||||||||
Acquisitions_Goodwill_and_Inta1
Acquisitions, Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Schedule of Business Acquisitions, by Acquisition | ' | |||||||
The following table summarizes the allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of October 15, 2012: | ||||||||
Tangible assets (includes trade accounts receivable, inventory, property and equipment and other assets) | $ | 1,158,450 | ||||||
Goodwill | 412,085 | |||||||
Identifiable intangible assets | 309,000 | |||||||
Liabilities (includes accounts payable, accrued expenses and other liabilities) | (1,011,343 | ) | ||||||
$ | 868,192 | |||||||
Components of Intangible Assets Acquired | ' | |||||||
The components of identifiable intangible assets acquired in connection with the BrightPoint acquisition were as follows: | ||||||||
Fair Value | Estimated | |||||||
Useful Life | ||||||||
Logistics customer relationships | $ | 237,000 | 10 years | |||||
Distribution customer relationships | 59,000 | 7 years | ||||||
Trade name | 13,000 | 3 years | ||||||
Total identifiable intangible assets | $ | 309,000 | ||||||
Summary of Pro-Forma Operating Results | ' | |||||||
Fiscal Year | ||||||||
2012 | 2011 | |||||||
Net sales | $ | 41,802,220 | $ | 41,573,084 | ||||
Net income | $ | 310,791 | $ | 282,901 | ||||
Earnings per share | ||||||||
Basic | $ | 2.06 | $ | 1.81 | ||||
Diluted | $ | 2.02 | $ | 1.77 | ||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property and Equipment | ' | |||||||
Property and equipment consist of the following: | ||||||||
Fiscal Year End | ||||||||
2013 | 2012 | |||||||
Land | $ | 11,614 | $ | 11,706 | ||||
Buildings and leasehold improvements | 190,604 | 186,934 | ||||||
Distribution equipment | 286,902 | 278,064 | ||||||
Computer equipment and software | 690,841 | 636,723 | ||||||
1,179,961 | 1,113,427 | |||||||
Accumulated depreciation | (691,262 | ) | (632,103 | ) | ||||
$ | 488,699 | $ | 481,324 | |||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Carrying Value of Outstanding Debt | ' | |||||||
The carrying value of our outstanding debt consists of the following: | ||||||||
Fiscal Year End | ||||||||
2013 | 2012 | |||||||
Senior unsecured notes, 5.25% due 2017 | $ | 300,000 | $ | 300,000 | ||||
Senior unsecured notes, 5.00% due 2022, net of unamortized discount of $1,546 and $1,725, respectively | 298,454 | 298,275 | ||||||
North America revolving trade accounts receivable-backed financing program | 199,000 | 345,000 | ||||||
Lines of credit and other debt | 48,772 | 111,268 | ||||||
846,226 | 1,054,543 | |||||||
Short-term debt and current maturities of long-term debt | (48,772 | ) | (111,268 | ) | ||||
$ | 797,454 | $ | 943,275 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Components of Income Before Income Taxes | ' | |||||||||||
The components of income before income taxes consist of the following: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
United States | $ | 200,663 | $ | 156,134 | $ | 129,412 | ||||||
Foreign | 235,436 | 240,050 | 258,459 | |||||||||
Total | $ | 436,099 | $ | 396,184 | $ | 387,871 | ||||||
Provision for Income Taxes | ' | |||||||||||
The provision for income taxes consists of the following: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 80,910 | $ | 13,642 | $ | 29,238 | ||||||
State | 8,225 | 2,547 | 3,951 | |||||||||
Foreign | 69,468 | 80,003 | 81,617 | |||||||||
158,603 | 96,192 | 114,806 | ||||||||||
Deferred: | ||||||||||||
Federal | (13,894 | ) | (20,738 | ) | 23,772 | |||||||
State | (1,776 | ) | 1,161 | 707 | ||||||||
Foreign | (17,417 | ) | 13,660 | 4,346 | ||||||||
(33,087 | ) | (5,917 | ) | 28,825 | ||||||||
Provision for income taxes | $ | 125,516 | $ | 90,275 | $ | 143,631 | ||||||
Reconciliation of Statutory U.S. Federal Income Tax Rate to Our Effective Tax Rate | ' | |||||||||||
The reconciliation of the statutory U.S. federal income tax rate to our effective tax rate is as follows: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal income tax benefit | 1.5 | 1.2 | 1.5 | |||||||||
U.S. tax on foreign earnings, net of foreign tax credits | (4.6 | ) | 0.6 | 0.2 | ||||||||
Effect of international operations | (5.6 | ) | (7.7 | ) | (9.7 | ) | ||||||
Effect of change in valuation allowances | 2.9 | 2.6 | 8.7 | |||||||||
Effect of worthless stock deduction | — | (9.0 | ) | — | ||||||||
Other | (0.4 | ) | 0.1 | 1.3 | ||||||||
Effective tax rate | 28.8 | % | 22.8 | % | 37 | % | ||||||
Significant Components of Net Deferred Tax Assets and Liabilities | ' | |||||||||||
Significant components of our net deferred tax assets and liabilities are as follows: | ||||||||||||
Fiscal Year End | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Net operating loss carryforwards | $ | 293,514 | $ | 223,790 | ||||||||
Tax credit carryforwards | 134,573 | 94,732 | ||||||||||
Employee benefits, including stock-based compensation | 51,764 | 60,292 | ||||||||||
Reorganization and restructuring reserves | 3,138 | 4,410 | ||||||||||
Inventory | 32,627 | 31,999 | ||||||||||
Depreciation and amortization | 38,899 | 69,264 | ||||||||||
Allowance on trade accounts receivable | 12,991 | 13,476 | ||||||||||
Reserves and accruals not currently deductible for income tax purposes | 27,545 | 26,478 | ||||||||||
Other | 33,308 | 17,700 | ||||||||||
Total deferred tax assets | 628,359 | 542,141 | ||||||||||
Valuation allowance | (315,312 | ) | (241,095 | ) | ||||||||
Subtotal | 313,047 | 301,046 | ||||||||||
Deferred tax liabilities: | — | |||||||||||
Depreciation and amortization | (154,079 | ) | (166,239 | ) | ||||||||
Outside basis difference on earnings of foreign subsidiaries | (60,345 | ) | (61,560 | ) | ||||||||
Other | (15,250 | ) | (17,272 | ) | ||||||||
Total deferred tax liabilities | (229,674 | ) | (245,071 | ) | ||||||||
Net deferred tax assets | $ | 83,373 | $ | 55,975 | ||||||||
Amounts of Gross Unrecognized Tax Benefits | ' | |||||||||||
A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows: | ||||||||||||
Fiscal Year Ended | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Gross unrecognized tax benefits at beginning of the year | $ | 38,790 | $ | 24,888 | $ | 23,641 | ||||||
Increases in tax positions for prior years | 4,918 | 17,281 | 3,953 | |||||||||
Decreases in tax positions for prior years | (61 | ) | (900 | ) | (1,221 | ) | ||||||
Increases in tax positions for current year | 737 | 2,716 | 1,197 | |||||||||
Decreases in tax positions for current year | — | — | — | |||||||||
Settlements | (1,078 | ) | (343 | ) | (789 | ) | ||||||
Lapse in statute of limitations | (7,908 | ) | (4,852 | ) | (1,893 | ) | ||||||
Gross unrecognized tax benefits at end of the year | $ | 35,398 | $ | 38,790 | $ | 24,888 | ||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||
Notional Amounts and Fair Values of Derivative Instruments | ' | |||||||||||||||
The notional amounts and fair values of derivative instruments in our consolidated balance sheet were as follows: | ||||||||||||||||
Notional Amounts(1) | Fair Value | |||||||||||||||
December 28, | December 29, | December 28, | December 29, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives not receiving hedge accounting treatment recorded in: | ||||||||||||||||
Other current assets | ||||||||||||||||
Foreign exchange contracts | $ | 334,519 | $ | 817,172 | $ | 2,942 | $ | 2,897 | ||||||||
Accrued expenses | ||||||||||||||||
Foreign exchange contracts | 1,486,407 | 607,836 | (8,887 | ) | (3,776 | ) | ||||||||||
Total | $ | 1,820,926 | $ | 1,425,008 | $ | (5,945 | ) | $ | (879 | ) | ||||||
(1) Notional amounts represent the gross amount of foreign currency bought or sold at maturity for foreign exchange contracts. | ||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | ' | |||||||||||||||
Fiscal Year Ended | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Net gain (loss) recognized in earnings | (11,657 | ) | (35,181 | ) | 1,799 | |||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||||||||||
Our senior unsecured notes due in 2022 and 2017 are stated at amortized cost, and their respective fair values were determined based on Level 2 criteria. The fair values and carrying values of these notes are shown in the table below: | ||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 300,000 | $ | 318,000 | $ | — | $ | 318,000 | $ | — | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 298,454 | 301,200 | — | 301,200 | — | |||||||||||||||
$ | 598,454 | $ | 619,200 | $ | — | $ | 619,200 | $ | — | |||||||||||
December 29, 2012 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Carrying Value | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 300,000 | $ | 326,000 | $ | — | $ | 326,000 | $ | — | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 298,275 | 307,000 | — | 307,000 | — | |||||||||||||||
$ | 598,275 | $ | 633,000 | $ | — | $ | 633,000 | $ | — | |||||||||||
As of December 28, 2013, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 50,735 | $ | 50,735 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 53,856 | 53,856 | — | — | ||||||||||||||||
Derivative assets | 2,942 | — | 2,942 | — | ||||||||||||||||
Total assets at fair value | $ | 107,533 | $ | 104,591 | $ | 2,942 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 8,887 | $ | — | $ | 8,887 | $ | — | ||||||||||||
Contingent consideration | 3,650 | — | — | 3,650 | ||||||||||||||||
Total liabilities at fair value | $ | 12,537 | $ | — | $ | 8,887 | $ | 3,650 | ||||||||||||
(a) Included in other current assets in our consolidated balance sheet. | ||||||||||||||||||||
As of December 29, 2012, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
December 29, 2012 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 189,381 | $ | 189,381 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 46,938 | 46,938 | — | — | ||||||||||||||||
Derivative assets | 2,897 | — | 2,897 | — | ||||||||||||||||
Total assets at fair value | $ | 239,216 | $ | 236,319 | $ | 2,897 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 3,776 | $ | — | $ | 3,776 | $ | — | ||||||||||||
Total liabilities at fair value | $ | 3,776 | $ | — | $ | 3,776 | $ | — | ||||||||||||
(a) Included in other current assets in our consolidated balance sheet. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Future Minimum Rental Commitments on Operating Leases | ' | |||
Future minimum rental commitments on operating leases that have remaining noncancelable lease terms as of December 28, 2013 are as follows: | ||||
2014 | $ | 102,351 | ||
2015 | 71,865 | |||
2016 | 59,779 | |||
2017 | 50,019 | |||
2018 | 41,983 | |||
Thereafter | 96,450 | |||
$ | 422,447 | |||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 28, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Financial Information by Reporting Segments | ' | ||||||||||||||||||||
Fiscal Year End | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Identifiable assets | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 3,965,210 | $ | 4,103,657 | |||||||||||||||||
Europe | 3,630,667 | 2,883,678 | |||||||||||||||||||
Asia-Pacific | 1,429,984 | 1,880,431 | |||||||||||||||||||
Latin America | 836,188 | 652,552 | |||||||||||||||||||
BrightPoint | 1,929,146 | 1,960,130 | |||||||||||||||||||
Total | $ | 11,791,195 | $ | 11,480,448 | |||||||||||||||||
Long-lived assets | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 402,823 | $ | 329,175 | |||||||||||||||||
Europe | 45,951 | 50,498 | |||||||||||||||||||
Asia-Pacific | 42,548 | 45,898 | |||||||||||||||||||
Latin America | 8,447 | 9,415 | |||||||||||||||||||
BrightPoint | 364,353 | 418,820 | |||||||||||||||||||
Total | $ | 864,122 | $ | 853,806 | |||||||||||||||||
Financial information by reporting segment is as follows: | |||||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net sales | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 16,433,994 | $ | 15,880,103 | $ | 15,250,560 | |||||||||||||||
Europe | 10,843,514 | 10,614,811 | 11,371,043 | ||||||||||||||||||
Asia-Pacific | 8,698,116 | 8,347,170 | 7,920,649 | ||||||||||||||||||
Latin America | 2,051,899 | 1,943,841 | 1,786,449 | ||||||||||||||||||
BrightPoint | 4,526,395 | 1,041,374 | — | ||||||||||||||||||
Total | $ | 42,553,918 | $ | 37,827,299 | $ | 36,328,701 | |||||||||||||||
Income from operations | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 296,263 | $ | 283,689 | $ | 281,155 | |||||||||||||||
Europe | 84,966 | 103,278 | 136,306 | ||||||||||||||||||
Asia-Pacific | 74,394 | 53,613 | 46,508 | ||||||||||||||||||
Latin America | 43,080 | 37,700 | 25,488 | ||||||||||||||||||
BrightPoint | 46,512 | 11,290 | — | ||||||||||||||||||
Stock-based compensation expense | (30,340 | ) | (27,218 | ) | (30,811 | ) | |||||||||||||||
Total | $ | 514,875 | $ | 462,352 | $ | 458,646 | |||||||||||||||
Capital expenditures | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 62,513 | $ | 64,529 | $ | 91,873 | |||||||||||||||
Europe | 6,498 | 4,420 | 8,745 | ||||||||||||||||||
Asia-Pacific | 10,164 | 17,945 | 21,100 | ||||||||||||||||||
Latin America | 1,516 | 1,161 | 470 | ||||||||||||||||||
BrightPoint | 14,948 | 4,245 | — | ||||||||||||||||||
Total | $ | 95,639 | $ | 92,300 | $ | 122,188 | |||||||||||||||
Depreciation | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 34,282 | $ | 26,677 | $ | 27,520 | |||||||||||||||
Europe | 9,702 | 10,133 | 10,892 | ||||||||||||||||||
Asia-Pacific | 7,570 | 6,987 | 4,759 | ||||||||||||||||||
Latin America | 1,356 | 1,265 | 1,561 | ||||||||||||||||||
BrightPoint | 27,525 | 4,643 | — | ||||||||||||||||||
Total | $ | 80,435 | $ | 49,705 | $ | 44,732 | |||||||||||||||
Amortization of intangible assets | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | 8,374 | $ | 6,706 | $ | 7,539 | |||||||||||||||
Europe | 2,002 | 3,857 | 2,313 | ||||||||||||||||||
Asia-Pacific | 830 | 1,079 | 1,797 | ||||||||||||||||||
Latin America | 887 | 902 | 901 | ||||||||||||||||||
BrightPoint | 36,387 | 8,167 | — | ||||||||||||||||||
Total | $ | 48,480 | $ | 20,711 | $ | 12,550 | |||||||||||||||
The integration, transition and other costs included in income from operations by reporting segments are as follows: | |||||||||||||||||||||
Fiscal Year Ended | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Integration, transition and other costs (a) | |||||||||||||||||||||
IT Distribution: | |||||||||||||||||||||
North America | $ | (17,123 | ) | $ | 8,515 | $ | — | ||||||||||||||
Europe | 5,839 | — | — | ||||||||||||||||||
Asia-Pacific | 2,210 | 43 | — | ||||||||||||||||||
Latin America | (1,033 | ) | 1,923 | — | |||||||||||||||||
BrightPoint | 10,546 | 5,884 | — | ||||||||||||||||||
Total | $ | 439 | $ | 16,365 | $ | — | |||||||||||||||
(a) Costs are primarily for legal, consulting and other costs associated with the integration of BrightPoint, acquisitions-related costs and other transition costs incurred for certain executives, charged to SG&A expenses. For the fiscal year ended December 28, 2013, also included is a gain of $28,461 and $1,033 related to the settlement of legal matters in North America and Latin America, respectively. For the fiscal year ended December 29, 2012, it also included asset impairments of $1,923 associated with our closure of in-country Argentina operations in Latin America, charged to SG&A expenses. | |||||||||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | ' | ||||||||||||||||||||
Net sales and long-lived assets for the United States, which is our country of domicile, are as follows: | |||||||||||||||||||||
Fiscal Year End | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Net sales | |||||||||||||||||||||
United States | $ | 15,667,744 | 37 | % | $ | 14,464,308 | 38 | % | $ | 13,385,690 | 37 | % | |||||||||
Outside of the United States | 26,886,174 | 63 | 23,362,991 | 62 | 22,943,011 | 63 | |||||||||||||||
Total | $ | 42,553,918 | 100 | % | $ | 37,827,299 | 100 | % | $ | 36,328,701 | 100 | % | |||||||||
Fiscal Year End | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Long-lived assets: | |||||||||||||||||||||
United States | $ | 625,719 | 72 | % | $ | 595,949 | 70 | % | |||||||||||||
Outside of the United States | 238,403 | 28 | 257,857 | 30 | |||||||||||||||||
Total | $ | 864,122 | 100 | % | $ | 853,806 | 100 | % | |||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Weighted Average Assumptions of Options Granted | ' | |||||||||||||||
The fair value of options granted in 2013, 2012 and 2011 was estimated assuming no dividends and using the following weighted average assumptions: | ||||||||||||||||
Fiscal Year Ended | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Expected life of stock options | 3.1 years | 5.0 years | 5.0 years | |||||||||||||
Risk-free interest rate | 0.57% | 0.89% | 2.11% | |||||||||||||
Expected stock volatility | 25.90% | 34.60% | 32.70% | |||||||||||||
Fair value of options granted | $3.62 | $5.79 | $6.35 | |||||||||||||
Stock Option Activity | ' | |||||||||||||||
Stock option activity under the 2011 Amended Plan was as follows for the three years ended December 28, 2013: | ||||||||||||||||
No. of Shares | Weighted- | Weighted-Average | Aggregate | |||||||||||||
Average | Remaining | Intrinsic | ||||||||||||||
Price | Contractual | Value | ||||||||||||||
Term | ||||||||||||||||
(in Years) | ||||||||||||||||
Outstanding at January 1, 2011 | 10,415 | $ | 16.41 | 3.7 | ||||||||||||
Granted | 40 | 19.62 | ||||||||||||||
Exercised | (2,397 | ) | 15.44 | |||||||||||||
Forfeited/cancelled/expired | (42 | ) | 16.25 | |||||||||||||
Outstanding at December 31, 2011 | 8,016 | 16.72 | 2.8 | |||||||||||||
Granted | 51 | 18.31 | ||||||||||||||
Exercised | (2,116 | ) | 14.8 | |||||||||||||
Forfeited/cancelled/expired | (306 | ) | 18.37 | |||||||||||||
Outstanding at December 29, 2012 | 5,645 | 17.36 | 2.7 | |||||||||||||
Granted | 1,452 | 25.7 | ||||||||||||||
Exercised | (2,619 | ) | 16.56 | |||||||||||||
Forfeited/cancelled/expired | (291 | ) | 20.14 | |||||||||||||
Outstanding at December 28, 2013 | 4,187 | 20.56 | 3.1 | $ | 15,469 | |||||||||||
Vested and expected to vest at December 28, 2013 | 4,022 | 20.34 | 3.1 | $ | 15,469 | |||||||||||
Exercisable at December 28, 2013 | 2,783 | 17.83 | 2.7 | $ | 15,444 | |||||||||||
Stock Options Outstanding and Exercisable | ' | |||||||||||||||
The following table summarizes information about stock options outstanding and exercisable at December 28, 2013: | ||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Range of Exercise Prices | Number | Weighted- | Weighted- | Number | Weighted- | |||||||||||
Outstanding at | Average | Average | Exercisable at | Average | ||||||||||||
December 28, | Remaining | Exercise | December 28, | Exercise | ||||||||||||
2013 | Life | Price | 2013 | Price | ||||||||||||
$10.62 – $17.80 | 1,296 | 2.8 | $ | 15.96 | 1,292 | $ | 15.96 | |||||||||
$17.92 – $20.70 | 1,474 | 2.6 | 19.43 | 1,474 | 19.43 | |||||||||||
$20.80 – $21.60 | 17 | 3.2 | 21.5 | 17 | 21.5 | |||||||||||
$26.00 – $26.00 | 1,400 | 3.9 | 26 | — | — | |||||||||||
4,187 | 3.1 | 20.56 | 2,783 | 17.83 | ||||||||||||
Activity Related to Restricted Stock and Restricted Stock Units | ' | |||||||||||||||
Activity related to restricted stock and restricted stock units was as follows for the three years ended December 28, 2013: | ||||||||||||||||
Number of | Weighted- | |||||||||||||||
Shares | Average | |||||||||||||||
Grant Date | ||||||||||||||||
Fair Value | ||||||||||||||||
Non-vested at January 1, 2011 | 5,110 | $ | 10.84 | |||||||||||||
Granted | 1,961 | 19.37 | ||||||||||||||
Vested | (1,145 | ) | 9.92 | |||||||||||||
Forfeited | (1,006 | ) | 18.02 | |||||||||||||
Non-vested at December 31, 2011 | 4,920 | 12.98 | ||||||||||||||
Granted | 2,866 | 17.21 | ||||||||||||||
Vested | (2,132 | ) | 12.79 | |||||||||||||
Forfeited | (147 | ) | 17.66 | |||||||||||||
Non-vested at December 29, 2012 | 5,507 | 15.13 | ||||||||||||||
Granted | 4,071 | 19.26 | ||||||||||||||
Vested | (2,101 | ) | 18.34 | |||||||||||||
Forfeited | (447 | ) | 17.74 | |||||||||||||
Non-vested at December 28, 2013 | 7,030 | 16.39 | ||||||||||||||
Common_Stock_Tables
Common Stock (Tables) | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Equity [Abstract] | ' | ||||||||||
Stock Repurchase and Issuance Activity | ' | ||||||||||
Our stock repurchase and issuance activity for 2013, 2012 and 2011 are summarized as follows: | |||||||||||
Shares | Weighted- | Net Amount | |||||||||
Repurchased | Average | Repurchased | |||||||||
Price Per Share | |||||||||||
Cumulative balance at January 1, 2011 | 23,713 | $ | 16.4 | $ | 388,817 | ||||||
Repurchase of Class A Common Stock | 12,476 | 18.11 | 225,905 | ||||||||
Issuance of Class A Common Stock | (546 | ) | 19.01 | (10,391 | ) | ||||||
Cumulative balance at December 31, 2011 | 35,643 | 16.96 | 604,331 | ||||||||
Repurchase of Class A Common Stock | 2,729 | 18.32 | 50,000 | ||||||||
Issuance of Class A Common Stock | (343 | ) | 18.27 | (6,265 | ) | ||||||
Cumulative balance at December 29, 2012 | 38,029 | 17.04 | 648,066 | ||||||||
Issuance of Class A Common Stock | (508 | ) | 17.24 | (8,766 | ) | ||||||
Cumulative balance at December 28, 2013 | 37,521 | 17.04 | $ | 639,300 | |||||||
Changes in Number of Outstanding Shares of Class A Common Stock | ' | ||||||||||
The detail of changes in the number of outstanding shares of Class A Common Stock for the three-year period ended December 28, 2013, is as follows: | |||||||||||
Class A | |||||||||||
Common Stock | |||||||||||
January 1, 2011 | 158,745 | ||||||||||
Stock options exercised | 2,397 | ||||||||||
Release of restricted stock units, net of shares withheld for employee taxes | 791 | ||||||||||
Grant of restricted Class A Common Stock | 27 | ||||||||||
Repurchase of Class A Common Stock | (12,476 | ) | |||||||||
December 31, 2011 | 149,484 | ||||||||||
Stock options exercised | 2,116 | ||||||||||
Release of restricted stock units, net of shares withheld for employee taxes | 1,432 | ||||||||||
Grant of restricted Class A Common Stock | 17 | ||||||||||
Repurchase of Class A Common Stock | (2,729 | ) | |||||||||
29-Dec-12 | 150,320 | ||||||||||
Stock options exercised | 2,619 | ||||||||||
Release of restricted stock units, net of shares withheld for employee taxes | 1,402 | ||||||||||
Grant of restricted Class A Common Stock | 15 | ||||||||||
Repurchase of Class A Common Stock | — | ||||||||||
28-Dec-13 | 154,356 | ||||||||||
Significant_Accounting_Policie3
Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Fiscal Year Period | '364 days | ' | ' |
Service revenues as a percentage of total net sales | 'Less than 10% | 'Less than 10% | 'Less than 10% |
Percentage of sales from products purchased from other individual vendors | 'Less than 10% | 'Less than 10% | 'Less than 10% |
Period to provide warranty protection for certain IT products within the European Union | 'up to two years | ' | ' |
Book overdrafts | $347,837 | $415,207 | ' |
Trade accounts receivable sold to and held by financial institutions under uncommitted factoring programs | 381,451 | 242,626 | ' |
Factoring fees | 2,851 | 3,822 | 3,068 |
Identifiable intangible assets | 496,789 | 445,385 | ' |
Amortization period for finite-lived identifiable intangible assets | '10 years | ' | ' |
Net carrying amounts of finite-lived identifiable intangible assets | 375,423 | 372,482 | ' |
Amortization of intangible assets | 48,480 | 20,711 | 12,550 |
Impairments of long-lived and other intangible assets | $0 | $0 | $0 |
Percentage of consolidated net sales not exceeded by any single customer | '10% or more | '10% or more | '10% or more |
Percentage of total accounts receivable not exceeded by any single customer | 'Greater than 10% | 'Greater than 10% | ' |
Stock-based awards excluded from the computation of Diluted Earnings Per Share | 2,069 | 3,487 | 2,671 |
Period used to estimate the forfeiture rate for stock-based compensation | 'preceding five fiscal years | ' | ' |
Minimum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Fiscal Year Period | '364 days | '364 days | '364 days |
Amortization period for finite-lived identifiable intangible assets | '3 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Fiscal Year Period | '371 days | '371 days | '371 days |
Amortization period for finite-lived identifiable intangible assets | '20 years | ' | ' |
Hewlett-Packard [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percentage of sales from products purchased | 15.00% | 18.00% | 21.00% |
Apple Inc [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percentage of sales from products purchased | ' | 10.00% | ' |
Significant_Accounting_Policie4
Significant Accounting Policies - Depreciable Lives of Property and Equipment (Detail) | 12 Months Ended |
Dec. 28, 2013 | |
Minimum [Member] | Buildings [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '30 years |
Minimum [Member] | Leasehold improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '3 years |
Minimum [Member] | Distribution equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '5 years |
Minimum [Member] | Computer equipment and software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '3 years |
Maximum [Member] | Buildings [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '40 years |
Maximum [Member] | Leasehold improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '17 years |
Maximum [Member] | Distribution equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '10 years |
Maximum [Member] | Computer equipment and software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable lives of property and equipment | '10 years |
Significant_Accounting_Policie5
Significant Accounting Policies - Schedule of Finite-Lived Identifiable Intangible Assets Future Minimum Amortization Expense (Detail) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Accounting Policies [Abstract] | ' | ' |
2014 | $57,038 | ' |
2015 | 54,702 | ' |
2016 | 48,189 | ' |
2017 | 48,094 | ' |
2018 | 47,259 | ' |
Thereafter | 120,141 | ' |
Total | $375,423 | $372,482 |
Significant_Accounting_Policie6
Significant Accounting Policies - Schedule of Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Goodwill [Line Items] | ' | ' |
Beginning balance | $428,401 | ' |
Acquisitions | 105,064 | 428,401 |
Adjustments/reclassifications | -5,939 | ' |
Ending balance | 527,526 | 428,401 |
North America [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Beginning balance | 4,555 | ' |
Acquisitions | 105,064 | 4,555 |
Adjustments/reclassifications | -800 | ' |
Ending balance | 108,819 | 4,555 |
Asia-Pacific [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Beginning balance | 4,951 | ' |
Acquisitions | 0 | 4,951 |
Adjustments/reclassifications | 1,671 | ' |
Ending balance | 6,622 | 4,951 |
BrightPoint [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Beginning balance | 418,895 | ' |
Acquisitions | 0 | 418,895 |
Adjustments/reclassifications | -6,810 | ' |
Ending balance | $412,085 | $418,895 |
Significant_Accounting_Policie7
Significant Accounting Policies - Computation of Basic EPS and Diluted EPS (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Accounting Policies [Abstract] | ' | ' | ' |
Net income | $310,583 | $305,909 | $244,240 |
Weighted average shares | 152,900 | 150,654 | 155,882 |
Basic earnings per share (in dollars per share) | $2.03 | $2.03 | $1.57 |
Weighted average shares including the dilutive effect of stock-based awards (3,372, 3,063 and 3,706 for 2013, 2012 and 2011, respectively) | 156,272 | 153,717 | 159,588 |
Diluted earnings per share (in dollars per share) | $1.99 | $1.99 | $1.53 |
Significant_Accounting_Policie8
Significant Accounting Policies - Computation of Basic EPS and Diluted EPS (Parenthetical) (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Accounting Policies [Abstract] | ' | ' | ' |
Dilutive effect of stock-based awards | 3,372 | 3,063 | 3,706 |
Reorganization_Costs_Reorganiz
Reorganization Costs - Reorganization Costs and Activities (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Employees | Employees | Employees | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Number of employee terminations | 628 | 359 | 123 |
Employee Termination Benefits | $25,327 | $8,744 | $6,215 |
Facility Costs | 9,329 | 300 | 0 |
Total Reorganization Costs | 34,656 | 9,044 | 6,215 |
Adjustments to Prior Year Costs | -27 | 632 | -1,084 |
Reorganization costs | 34,629 | 9,676 | 5,131 |
North America [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Employee Termination Benefits | 3,698 | 34 | 1,216 |
Facility Costs | 0 | 0 | 0 |
Total Reorganization Costs | 3,698 | 34 | 1,216 |
Adjustments to Prior Year Costs | 173 | 779 | -467 |
Reorganization costs | 3,871 | 813 | 749 |
Europe [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Employee Termination Benefits | 11,316 | 3,087 | 2,070 |
Facility Costs | 0 | 0 | 0 |
Total Reorganization Costs | 11,316 | 3,087 | 2,070 |
Adjustments to Prior Year Costs | -188 | -32 | -617 |
Reorganization costs | 11,128 | 3,055 | 1,453 |
Asia-Pacific [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Employee Termination Benefits | 952 | 4,523 | 2,730 |
Facility Costs | 4,259 | 0 | 0 |
Total Reorganization Costs | 5,211 | 4,523 | 2,730 |
Adjustments to Prior Year Costs | -12 | -115 | 0 |
Reorganization costs | 5,199 | 4,408 | 2,730 |
Latin America [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Employee Termination Benefits | 0 | 432 | 199 |
Facility Costs | 0 | 0 | 0 |
Total Reorganization Costs | 0 | 432 | 199 |
Adjustments to Prior Year Costs | 0 | 0 | 0 |
Reorganization costs | 0 | 432 | 199 |
Brightpoint Transaction [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Employee Termination Benefits | 9,361 | 668 | ' |
Facility Costs | 5,070 | 300 | ' |
Total Reorganization Costs | 14,431 | 968 | ' |
Adjustments to Prior Year Costs | 0 | 0 | ' |
Reorganization costs | $14,431 | $968 | ' |
Reorganization_Costs_Summary_o
Reorganization Costs - Summary of Remaining Liabilities and Payment Activities (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Remaining Liability at December 29, 2012 | $8,119 | ' | ' | |
Expenses (Income), Net | 34,629 | 9,676 | 5,131 | |
Amounts Paid and Charged Against the Liability | -19,873 | ' | ' | |
Foreign Currency Translation | -401 | [1] | ' | ' |
Remaining Liability at December 28, 2013 | 22,474 | 8,119 | ' | |
2013 Actions [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Remaining Liability at December 29, 2012 | 0 | [2] | ' | ' |
Expenses (Income), Net | 34,656 | [2] | ' | ' |
Amounts Paid and Charged Against the Liability | -16,053 | [2] | ' | ' |
Foreign Currency Translation | -208 | [1],[2] | ' | ' |
Remaining Liability at December 28, 2013 | 18,395 | [2] | ' | ' |
Employee Severance [Member] | 2013 Actions [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Remaining Liability at December 29, 2012 | 0 | ' | ' | |
Expenses (Income), Net | 25,327 | ' | ' | |
Amounts Paid and Charged Against the Liability | -12,615 | ' | ' | |
Foreign Currency Translation | 177 | [1] | ' | ' |
Remaining Liability at December 28, 2013 | 12,889 | ' | ' | |
Employee Severance [Member] | 2012 Actions [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Remaining Liability at December 29, 2012 | 1,826 | [3] | ' | ' |
Expenses (Income), Net | -200 | [3] | ' | ' |
Amounts Paid and Charged Against the Liability | -604 | [3] | ' | ' |
Foreign Currency Translation | 37 | [1],[3] | ' | ' |
Remaining Liability at December 28, 2013 | 1,059 | [3] | ' | ' |
Employee Severance [Member] | 2011 Actions [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Remaining Liability at December 29, 2012 | 79 | ' | ' | |
Expenses (Income), Net | 0 | ' | ' | |
Amounts Paid and Charged Against the Liability | -79 | ' | ' | |
Foreign Currency Translation | 0 | [1] | ' | ' |
Remaining Liability at December 28, 2013 | 0 | ' | ' | |
Facility Closing [Member] | 2013 Actions [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Remaining Liability at December 29, 2012 | 0 | ' | ' | |
Expenses (Income), Net | 9,329 | ' | ' | |
Amounts Paid and Charged Against the Liability | -3,438 | ' | ' | |
Foreign Currency Translation | -385 | [1] | ' | ' |
Remaining Liability at December 28, 2013 | 5,506 | ' | ' | |
Facility Closing [Member] | 2009 and Prior Actions [Member] | ' | ' | ' | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | |
Remaining Liability at December 29, 2012 | 6,214 | [4] | ' | ' |
Expenses (Income), Net | 173 | [4] | ' | ' |
Amounts Paid and Charged Against the Liability | -3,137 | [4] | ' | ' |
Foreign Currency Translation | -230 | [1],[4] | ' | ' |
Remaining Liability at December 28, 2013 | $3,020 | [4] | ' | ' |
[1] | Reflects the net foreign currency impact on the U.S. dollar liability. | |||
[2] | We expect the remaining liabilities to be substantially utilized by the end of 2016. | |||
[3] | We expect the remaining liabilities to be substantially utilized by the end of 2014. | |||
[4] | We expect the remaining liabilities to be fully utilized by the end of 2015. |
Acquisitions_Goodwill_and_Inta2
Acquisitions, Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||
Sep. 12, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 02, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Sep. 30, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Sep. 12, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Oct. 15, 2012 | Aug. 13, 2012 | Aug. 13, 2012 | Aug. 13, 2012 | Nov. 30, 2012 | Dec. 28, 2013 | |
Shipwire, Inc. [Member] | Shipwire, Inc. [Member] | Shipwire, Inc. [Member] | Shipwire, Inc. [Member] | CloudBlue Technologies, Inc. [Member] | CloudBlue Technologies, Inc. [Member] | CloudBlue Technologies, Inc. [Member] | CloudBlue Technologies, Inc. [Member] | SoftCom [Member] | SoftCom [Member] | SoftCom [Member] | BrightPoint [Member] | Aptec Holdings Ltd [Member] | Aptec Holdings Ltd [Member] | Aptec Holdings Ltd [Member] | Promark Technology Inc. [Member] | Promark Technology Inc. [Member] | |||||
Software [Member] | Trade Names [Member] | Customer Relationships [Member] | Software [Member] | Trade Names [Member] | Customer Relationships [Member] | Software [Member] | Domain Names [Member] | Vendor and customer relationships [Member] | Trademarks [Member] | ||||||||||||
Acquisitions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration paid | ' | ' | ' | ' | $86,000,000 | ' | ' | ' | $38,500,000 | ' | ' | ' | $11,000,000 | ' | ' | ' | ' | ' | ' | $7,707,000 | ' |
Goodwill | ' | 527,526,000 | 428,401,000 | ' | 65,000,000 | ' | ' | ' | 25,000,000 | ' | ' | ' | 15,000,000 | ' | ' | 412,085,000 | 6,622,000 | ' | ' | ' | 3,755,000 |
Identifiable intangible assets | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | 15,000,000 | ' | ' | ' | 9,000,000 | ' | ' | 309,000,000 | 1,834,000 | ' | ' | ' | ' |
Payment of outstanding debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,400,000 | ' | ' | 260,257,000 | ' | ' | ' | 4,675,000 | ' |
Other Payments to Acquire Businesses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination, deferred payment period | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Performance based earn-out | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,650,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Oct-12 | ' | ' | ' | 30-Nov-12 | ' |
Purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 868,192,000 | 16,302,000 | ' | ' | ' | ' |
Cash paid per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9 | ' | ' | ' | ' | ' |
Estimated useful lives of Identifiable intangible assets | ' | ' | ' | ' | ' | '5 years | '5 years | '5 years | ' | '6 years | '6 years | '6 years | ' | '6 years | '6 years | ' | ' | '10 years | '3 years | ' | ' |
Hold-back amount to be released upon settlement of certain closing matters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,250,000 | ' |
Maximum potential earn-out, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' |
Acquisitions_Goodwill_and_Inta3
Acquisitions, Goodwill and Intangible Assets - Purchase Price Allocation to Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Oct. 15, 2012 |
In Thousands, unless otherwise specified | BrightPoint [Member] | |||
Schedule Of Business Acquisitions Purchase Price Allocation [Line Items] | ' | ' | ' | ' |
Tangible assets (includes trade accounts receivable, inventory, property and equipment and other assets) | ' | ' | ' | $1,158,450 |
Goodwill | 527,526 | 428,401 | ' | 412,085 |
Identifiable intangible assets | ' | ' | ' | 309,000 |
Liabilities (includes accounts payable, accrued expenses and other liabilities) | ' | ' | ' | -1,011,343 |
Fair value of assets acquired and liabilities assumed | ' | ' | ' | $868,192 |
Acquisitions_Goodwill_and_Inta4
Acquisitions, Goodwill and Intangible Assets - Components of Intangible Assets Acquired (Detail) (BrightPoint [Member], USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Oct. 15, 2012 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Fair value, intangible assets | $309,000 |
Logistics customer relationships [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Fair value, intangible assets | 237,000 |
Intangible assets acquired, estimated useful life | '10 years |
Distribution customer relationships [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Fair value, intangible assets | 59,000 |
Intangible assets acquired, estimated useful life | '7 years |
Trade name [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Fair value, intangible assets | $13,000 |
Intangible assets acquired, estimated useful life | '3 years |
Acquisitions_Goodwill_and_Inta5
Acquisitions, Goodwill and Intangible Assets - Pro-Forma Operating Results (Detail) (BrightPoint [Member], USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 29, 2012 | Dec. 31, 2011 |
BrightPoint [Member] | ' | ' |
Business Acquisition Pro Forma Information [Line Items] | ' | ' |
Net sales | $41,802,220 | $41,573,084 |
Net income | $310,791 | $282,901 |
Earnings per share | ' | ' |
Basic (in dollars per share) | $2.06 | $1.81 |
Diluted (in dollars per share) | $2.02 | $1.77 |
Property_and_Equipment_Propert
Property and Equipment - Property and Equipment (Detail) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | $1,179,961 | $1,113,427 |
Accumulated depreciation | -691,262 | -632,103 |
Property and equipment, net | 488,699 | 481,324 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 11,614 | 11,706 |
Buildings and leasehold improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 190,604 | 186,934 |
Distribution equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 286,902 | 278,064 |
Computer equipment and software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | $690,841 | $636,723 |
Debt_Carrying_Value_of_Outstan
Debt - Carrying Value of Outstanding Debt (Detail) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
Standby Letters of Credit [Line Items] | ' | ' |
Total debt, current and non-current | $846,226,000 | $1,054,543,000 |
Short-term debt and current maturities of long-term debt | -48,772,000 | -111,268,000 |
Long-term debt, less current maturities | 797,454,000 | 943,275,000 |
Senior unsecured notes, 5.25% due 2017 [Member] | ' | ' |
Standby Letters of Credit [Line Items] | ' | ' |
Total debt, current and non-current | 300,000,000 | 300,000,000 |
Senior unsecured notes, 5.00% due 2022, net of unamortized discount of $1,546 and $1,725, respectively [Member] | ' | ' |
Standby Letters of Credit [Line Items] | ' | ' |
Total debt, current and non-current | 298,454,000 | 298,275,000 |
North America revolving trade accounts receivable-backed financing program [Member] | ' | ' |
Standby Letters of Credit [Line Items] | ' | ' |
Total debt, current and non-current | 199,000,000 | 345,000,000 |
Lines of credit and other debt [Member] | ' | ' |
Standby Letters of Credit [Line Items] | ' | ' |
Total debt, current and non-current | $48,772,000 | $111,268,000 |
Debt_Carrying_Value_of_Outstan1
Debt - Carrying Value of Outstanding Debt (Parenthetical) (Detail) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Aug. 10, 2012 |
In Thousands, unless otherwise specified | |||
Senior unsecured notes, 5.25% due 2017 [Member] | ' | ' | ' |
Standby Letters of Credit [Line Items] | ' | ' | ' |
Debt instrument, interest rate | 5.25% | 5.25% | ' |
Debt Instrument Maturity Period | '2017 | '2017 | ' |
Senior unsecured notes, 5.00% due 2022, net of unamortized discount of $1,546 and $1,725, respectively [Member] | ' | ' | ' |
Standby Letters of Credit [Line Items] | ' | ' | ' |
Debt instrument, interest rate | 5.00% | 5.00% | 5.00% |
Unamortized Discount | $1,546 | $1,725 | ' |
Debt Instrument Maturity Period | '2022 | '2022 | ' |
Debt_Additional_Information_De
Debt - Additional Information (Detail) | Dec. 28, 2013 | Dec. 29, 2012 | Aug. 10, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Aug. 31, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Jun. 29, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Jun. 28, 2013 | Jun. 29, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Jun. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 29, 2012 |
USD ($) | USD ($) | Senior unsecured notes, 5.00% due 2022 [Member] | Senior unsecured notes, 5.00% due 2022 [Member] | Senior unsecured notes, 5.00% due 2022 [Member] | Senior unsecured notes, 5.25% due 2017 [Member] | Senior unsecured notes, 5.25% due 2017 [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Lines of Credit, Short-term Overdraft Facilities and Other Facilities [Member] | Lines of Credit, Short-term Overdraft Facilities and Other Facilities [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | Accounts Receivable-Backed Financing Program [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Senior Unsecured Credit Facility [Member] | Senior Unsecured Credit Facility [Member] | Senior Unsecured Credit Facility [Member] | Additional Debt Instruments [Member] | Additional Debt Instruments [Member] | Additional Debt Instruments [Member] | Additional Debt Instruments [Member] | USD ($) | Financing Program North America [Member] | Financing Program North America [Member] | Financing Program, Europe, Maturing January 2017 [Member] | Financing Program, Europe, Maturing January 2017 [Member] | Financing Program, Europe, Maturing January 2017 [Member] | Financing Program, Europe, Maturing January 2017 [Member] | Financing Program, Europe, Maturing May 2016 [Member] | Financing Program, Europe, Maturing May 2016 [Member] | Financing Program, Europe, Maturing May 2016 [Member] | Financing Program, Europe, Maturing May 2016 [Member] | Financing Program, Europe, Maturing May 2016 [Member] | Financing Program Asia-Pacific [Member] | Financing Program Asia-Pacific [Member] | Financing Program Asia-Pacific [Member] | |||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | program | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | EUR (€) | EUR (€) | USD ($) | EUR (€) | EUR (€) | USD ($) | USD ($) | AUD | USD ($) | ||||||||
Line Of Credit Facility Covenant Compliance [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior unsecured notes issued | ' | ' | $300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate of senior unsecured notes | ' | ' | 5.00% | 5.00% | 5.00% | 5.25% | 5.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of senior unsecured notes, net of bond discount and issuance costs | ' | ' | 296,256,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount cost of debt | ' | ' | 1,794,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Issuance cost | ' | ' | 1,950,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior unsecured note carrying value | 846,226,000 | 1,054,543,000 | ' | 298,454,000 | 298,275,000 | 300,000,000 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net unamortized discount | ' | ' | ' | 1,546,000 | 1,725,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing capacity of various debt instruments | ' | ' | ' | ' | ' | ' | ' | ' | 940,000,000 | ' | 969,000,000 | ' | ' | ' | ' | 675,000,000 | ' | 105,000,000 | 145,000,000 | 105,000,000 | 100,000,000 | 45,000,000 | 62,000,000 | 45,000,000 | 90,000,000 | ' | 142,000,000 | 160,000,000 | ' |
Line of Credit Facility, Maximum Borrowing Capacity, Conditional | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate borrowing capacity of various debt instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 997,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding under various debt instruments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 48,772,000 | 111,268,000 | ' | ' | 199,000,000 | 199,000,000 | 345,000,000 | ' | 0 | ' | ' | ' | 0 | ' | ' | 0 | 0 | ' | 0 |
Number of Financing Programs, Europe and Asia-Pacific | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of restricted trade accounts receivable under trade accounts receivable-backed financing programs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,525,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving trade accounts receivable-backed financing program mature date | ' | ' | ' | ' | ' | ' | ' | 30-Sep-18 | 30-Sep-16 | ' | ' | ' | ' | ' | ' | ' | ' | 28-Jan-17 | ' | ' | ' | 28-May-16 | ' | ' | ' | ' | 24-May-14 | 24-May-14 | ' |
Line of Credit Facility, Additional Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | 310,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of letters of credit under credit facility | ' | ' | ' | ' | ' | ' | ' | ' | $7,996,000 | $4,491,000 | ' | ' | $31,636,000 | $30,829,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate on outstanding borrowings under lines of credit, short-term overdraft facilities and other credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | 7.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior unsecured notes maturity period | ' | ' | '2022 | ' | ' | '2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income (Loss) Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | $200,663 | $156,134 | $129,412 |
Foreign | 235,436 | 240,050 | 258,459 |
Income before income taxes | $436,099 | $396,184 | $387,871 |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | $80,910 | $13,642 | $29,238 |
State | 8,225 | 2,547 | 3,951 |
Foreign | 69,468 | 80,003 | 81,617 |
Current Income Tax Expense (Benefit), Total | 158,603 | 96,192 | 114,806 |
Deferred: | ' | ' | ' |
Federal | -13,894 | -20,738 | 23,772 |
State | -1,776 | 1,161 | 707 |
Foreign | -17,417 | 13,660 | 4,346 |
Deferred Income Tax Expense (Benefit), Total | -33,087 | -5,917 | 28,825 |
Provision for income taxes | $125,516 | $90,275 | $143,631 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Statutory U.S. Federal Income Tax Rate to Our Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal income tax benefit | 1.50% | 1.20% | 1.50% |
U.S. tax on foreign earnings, net of foreign tax credits | -4.60% | 0.60% | 0.20% |
Effect of international operations | 5.60% | 7.70% | 9.70% |
Effect of change in valuation allowances | 2.90% | 2.60% | 8.70% |
Effect of worthless stock deduction | 0.00% | 9.00% | 0.00% |
Other | -0.40% | 0.10% | 1.30% |
Effective tax rate | 28.80% | 22.80% | 37.00% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 | |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Net current deferred tax assets | $83,001,000 | $106,986,000 | ' | ' |
Net non-current deferred tax assets | 372,000 | ' | ' | ' |
Deferred tax liabilities, net, noncurrent | ' | 51,011,000 | ' | ' |
Net operating loss carryforwards | 293,514,000 | 223,790,000 | ' | ' |
Valuation allowance related to net operating loss carryforwards | 235,757,000 | ' | ' | ' |
Deferred tax assets on net operating loss carryforwards, net of valuation allowance | 57,757,000 | ' | ' | ' |
Deferred tax assets on net operating loss carryforwards with no expiration date | 22,001,000 | ' | ' | ' |
Deferred Tax Assets, Local Statutory Losses | 59,494,000 | ' | ' | ' |
Deferred tax assets related to foreign tax credit carryforwards | 134,342,000 | ' | ' | ' |
Valuation allowance related to foreign tax credit carryforwards | 55,508,000 | ' | ' | ' |
Tax credit carryforward, expiration period | '2021 | ' | ' | ' |
Increase in valuation allowance | 74,217,000 | ' | ' | ' |
Net undistributed earnings on which deferred tax is not provided | 2,000,000,000 | 2,100,000,000 | ' | ' |
Tax benefits claimed from exercise of employee stock options and other employee stock programs | 422,000 | 5,810,000 | 3,625,000 | ' |
Gross unrecognized tax benefits | 35,398,000 | 38,790,000 | 24,888,000 | 23,641,000 |
Interest and penalties on unrecognized tax benefits | $7,333,000 | ' | ' | ' |
Minimum [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Time limits for closings unrecognized tax benefits settlements and expiration of applicable statutes of limitations | '3 years | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Time limits for closings unrecognized tax benefits settlements and expiration of applicable statutes of limitations | '5 years | ' | ' | ' |
Income_Taxes_Significant_Compo
Income Taxes - Significant Components of Net Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Net operating loss carryforwards | $293,514 | $223,790 |
Tax credit carryforwards | 134,573 | 94,732 |
Employee benefits, including stock-based compensation | 51,764 | 60,292 |
Reorganization and restructuring reserves | 3,138 | 4,410 |
Inventory | 32,627 | 31,999 |
Depreciation and amortization | 38,899 | 69,264 |
Allowance on trade accounts receivable | 12,991 | 13,476 |
Reserves and accruals not currently deductible for income tax purposes | 27,545 | 26,478 |
Other | 33,308 | 17,700 |
Total deferred tax assets | 628,359 | 542,141 |
Valuation allowance | -315,312 | -241,095 |
Subtotal | 313,047 | 301,046 |
Deferred tax liabilities: | ' | ' |
Depreciation and amortization | -154,079 | -166,239 |
Outside basis difference on earnings of foreign subsidiaries | -60,345 | -61,560 |
Other | -15,250 | -17,272 |
Total deferred tax liabilities | 229,674 | 245,071 |
Net deferred tax assets | $83,373 | $55,975 |
Income_Taxes_Amounts_of_Gross_
Income Taxes - Amounts of Gross Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Gross unrecognized tax benefits at beginning of the year | $38,790 | $24,888 | $23,641 |
Increases in tax positions for prior years | 4,918 | 17,281 | 3,953 |
Decreases in tax positions for prior years | -61 | -900 | -1,221 |
Increases in tax positions for current year | 737 | 2,716 | 1,197 |
Decreases in tax positions for current year | 0 | 0 | 0 |
Settlements | -1,078 | -343 | -789 |
Lapse in statute of limitations | -7,908 | -4,852 | -1,893 |
Gross unrecognized tax benefits at end of the year | $35,398 | $38,790 | $24,888 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Notional Amounts and Fair Values of Derivative Instruments (Detail) (Not Designated as Hedging Instrument [Member], USD $) | Dec. 28, 2013 | Dec. 29, 2012 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivatives not receiving hedge accounting treatment, notional amount | $1,820,926 | [1] | $1,425,008 | [1] |
Derivatives not receiving hedge accounting treatment, fair value | -5,945 | -879 | ||
Other current assets [Member] | Foreign exchange contracts [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative asset, notional amount | 334,519 | [1] | 817,172 | [1] |
Derivatives not receiving hedge accounting treatment, fair value | 2,942 | 2,897 | ||
Accrued expenses [Member] | Foreign exchange contracts [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative liability, notional amount | 1,486,407 | [1] | 607,836 | [1] |
Derivatives not receiving hedge accounting treatment, fair value | ($8,887) | ($3,776) | ||
[1] | Notional amounts represent the gross amount of foreign currency bought or sold at maturity for foreign exchange contracts. |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Amounts Recognized in Earnings (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ' | ' |
Net gain (loss) recognized in earnings from derivative instruments including ineffectiveness | ($11,657) | ($35,181) | $1,799 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Detail) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 28, 2013 | Dec. 29, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $50,735 | $189,381 | ||
Marketable trading securities | 53,856 | [1] | 46,938 | [1] |
Derivative assets | 2,942 | 2,897 | ||
Total assets at fair value | 107,533 | 239,216 | ||
Derivative liabilities | 8,887 | 3,776 | ||
Contingent consideration | 3,650 | ' | ||
Total liabilities at fair value | 12,537 | 3,776 | ||
Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | 50,735 | 189,381 | ||
Marketable trading securities | 53,856 | [1] | 46,938 | [1] |
Total assets at fair value | 104,591 | 236,319 | ||
Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative assets | 2,942 | 2,897 | ||
Total assets at fair value | 2,942 | 2,897 | ||
Derivative liabilities | 8,887 | 3,776 | ||
Total liabilities at fair value | 8,887 | 3,776 | ||
Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Contingent consideration | 3,650 | 0 | ||
Total liabilities at fair value | $3,650 | $0 | ||
[1] | Included in other current assets in our consolidated balance sheet. |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements - Debt Information (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Aug. 10, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value, Measurements, Recurring [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 619,200 | 633,000 | ' |
Fair Value, Measurements, Recurring [Member] | Reported Value Measurement [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 598,454 | 598,275 | ' |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 619,200 | 633,000 | ' |
Senior unsecured notes, 5.25% due 2017 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Debt instrument, maturity date | '2017 | '2017 | ' |
Debt instrument, interest rate | 5.25% | 5.25% | ' |
Senior unsecured notes, 5.25% due 2017 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 318,000 | 326,000 | ' |
Senior unsecured notes, 5.25% due 2017 [Member] | Fair Value, Measurements, Recurring [Member] | Reported Value Measurement [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 300,000 | 300,000 | ' |
Senior unsecured notes, 5.25% due 2017 [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 318,000 | 326,000 | ' |
Senior unsecured notes, 5.00% due 2022 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Debt instrument, maturity date | '2022 | '2022 | ' |
Debt instrument, interest rate | 5.00% | 5.00% | 5.00% |
Senior unsecured notes, 5.00% due 2022 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 301,200 | 307,000 | ' |
Senior unsecured notes, 5.00% due 2022 [Member] | Fair Value, Measurements, Recurring [Member] | Reported Value Measurement [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 298,454 | 298,275 | ' |
Senior unsecured notes, 5.00% due 2022 [Member] | Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Fair value of senior unsecured notes issued | 301,200 | 307,000 | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 |
USD ($) | USD ($) | USD ($) | BRL | 2005 Federal import tax assessment [Member] | 2005 Federal import tax assessment [Member] | 2007 Sao Paulo Municipal tax assessment [Member] | 2007 Sao Paulo Municipal tax assessment [Member] | 2011 Federal income tax assessment [Member] | 2011 Federal income tax assessment [Member] | 2012 Sao Paulo Municipal tax assessment [Member] | 2012 Sao Paulo Municipal tax assessment [Member] | Two Thousand Thirteen Sao Paulo Municipal Tax Assessment [Member] | Two Thousand Thirteen Sao Paulo Municipal Tax Assessment [Member] | |
USD ($) | BRL | USD ($) | BRL | USD ($) | BRL | USD ($) | BRL | USD ($) | BRL | |||||
Contingencies And Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of commercial taxes due on the import of software acquired | ' | ' | ' | ' | $5,401 | 12,714 | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of service taxes due on the resale of software | ' | ' | ' | ' | ' | ' | 12,368 | 29,111 | ' | ' | ' | ' | ' | ' |
Amount of penalties on service taxes | ' | ' | ' | ' | ' | ' | 11,034 | 25,972 | ' | ' | 636 | 1,498 | 2,278 | 5,362 |
Amount of statutory penalties for delays in providing certain electronic files | ' | ' | ' | ' | ' | ' | ' | ' | 6,755 | 15,900 | ' | ' | ' | ' |
Amount of service taxes due on the importation of software | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,272 | 2,996 | 4,556 | 10,725 |
Amount of penalties and interest likely to be assessed | 87,815 | ' | ' | 206,701 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum amount of reimbursement to third party | 5,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rental expense including obligations relating to IT outsourcing services | 113,709 | 96,669 | 93,725 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future minimum sublease rental income under noncancelable sublease agreements | 6,980 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum sublease rental income under noncancelable sublease agreements in 2014 | 4,277 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum sublease rental income under noncancelable sublease agreements in 2015 | $2,703 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Rental Commitments on Operating Leases (Detail) (USD $) | Dec. 28, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2013 | $102,351 |
2014 | 71,865 |
2015 | 59,779 |
2016 | 50,019 |
2017 | 41,983 |
Thereafter | 96,450 |
Total | $422,447 |
Segment_Information_Financial_
Segment Information - Financial Information by Reporting Segments (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | $42,553,918 | $37,827,299 | $36,328,701 |
Income from operations | 514,875 | 462,352 | 458,646 |
Stock-based compensation expense | -30,340 | -27,218 | -30,811 |
Capital expenditures | 95,639 | 92,300 | 122,188 |
Depreciation | 80,435 | 49,705 | 44,732 |
Amortization of intangible assets | 48,480 | 20,711 | 12,550 |
Identifiable assets | 11,791,195 | 11,480,448 | ' |
Long-lived assets | 864,122 | 853,806 | ' |
Brightpoint Transaction [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 4,526,395 | 1,041,374 | 0 |
Income from operations | 46,512 | 11,290 | 0 |
Capital expenditures | 14,948 | 4,245 | 0 |
Depreciation | 27,525 | 4,643 | 0 |
Amortization of intangible assets | 36,387 | 8,167 | 0 |
Identifiable assets | 1,929,146 | 1,960,130 | ' |
Long-lived assets | 364,353 | 418,820 | ' |
North America [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 16,433,994 | 15,880,103 | 15,250,560 |
Income from operations | 296,263 | 283,689 | 281,155 |
Capital expenditures | 62,513 | 64,529 | 91,873 |
Depreciation | 34,282 | 26,677 | 27,520 |
Amortization of intangible assets | 8,374 | 6,706 | 7,539 |
Identifiable assets | 3,965,210 | 4,103,657 | ' |
Long-lived assets | 402,823 | 329,175 | ' |
Europe [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 10,843,514 | 10,614,811 | 11,371,043 |
Income from operations | 84,966 | 103,278 | 136,306 |
Capital expenditures | 6,498 | 4,420 | 8,745 |
Depreciation | 9,702 | 10,133 | 10,892 |
Amortization of intangible assets | 2,002 | 3,857 | 2,313 |
Identifiable assets | 3,630,667 | 2,883,678 | ' |
Long-lived assets | 45,951 | 50,498 | ' |
Asia-Pacific [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 8,698,116 | 8,347,170 | 7,920,649 |
Income from operations | 74,394 | 53,613 | 46,508 |
Capital expenditures | 10,164 | 17,945 | 21,100 |
Depreciation | 7,570 | 6,987 | 4,759 |
Amortization of intangible assets | 830 | 1,079 | 1,797 |
Identifiable assets | 1,429,984 | 1,880,431 | ' |
Long-lived assets | 42,548 | 45,898 | ' |
Latin America [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 2,051,899 | 1,943,841 | 1,786,449 |
Income from operations | 43,080 | 37,700 | 25,488 |
Capital expenditures | 1,516 | 1,161 | 470 |
Depreciation | 1,356 | 1,265 | 1,561 |
Amortization of intangible assets | 887 | 902 | 901 |
Identifiable assets | 836,188 | 652,552 | ' |
Long-lived assets | $8,447 | $9,415 | ' |
Segment_Information_Integratio
Segment Information - Integration, Transition and Other Costs (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Integration, transition and other costs | $439 | [1] | $16,365 | [1] | $0 | [1] |
Brightpoint Transaction [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Integration, transition and other costs | 10,546 | [1] | 5,884 | [1] | 0 | [1] |
North America [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Integration, transition and other costs | -17,123 | [1] | 8,515 | [1] | 0 | [1] |
Europe [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Integration, transition and other costs | 5,839 | [1] | 0 | [1] | 0 | [1] |
Asia-Pacific [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Integration, transition and other costs | 2,210 | [1] | 43 | [1] | 0 | [1] |
Latin America [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Integration, transition and other costs | ($1,033) | [1] | $1,923 | [1] | $0 | [1] |
[1] | Costs are primarily for legal, consulting and other costs associated with the integration of BrightPoint, acquisitions-related costs and other transition costs incurred for certain executives, charged to SG&A expenses. For the fiscal year ended December 28, 2013, also included is a gain of $28,461 and $1,033 related to the settlement of legal matters in North America and Latin America, respectively. For the fiscal year ended December 29, 2012, it also included asset impairments of $1,923 associated with our closure of in-country Argentina operations in Latin America, charged to SG&A expenses. |
Segment_Information_Schedule_o
Segment Information - Schedule of Revenue and Long-lived Assets by Geographic Location (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | $42,553,918 | $37,827,299 | $36,328,701 |
Net sales, percentage | 100.00% | 100.00% | 100.00% |
Long-lived assets | 864,122 | 853,806 | ' |
Long-lived assets, percentage | 100.00% | 100.00% | ' |
UNITED STATES | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | 15,667,744 | 14,464,308 | 13,385,690 |
Net sales, percentage | 37.00% | 38.00% | 37.00% |
Long-lived assets | 625,719 | 595,949 | ' |
Long-lived assets, percentage | 72.00% | 70.00% | ' |
Areas Outside of the United States [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Net sales | 26,886,174 | 23,362,991 | 22,943,011 |
Net sales, percentage | 63.00% | 62.00% | 63.00% |
Long-lived assets | $238,403 | $257,857 | ' |
Long-lived assets, percentage | 28.00% | 30.00% | ' |
Segment_Information_Additional
Segment Information - Additional Information (Details) (Details) (USD $) | 1 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Jul. 31, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | |||
Litigation Settlement, Amount | $29,494 | ' | ' | ' | |||
Integration, Transition And Other Costs | ' | 439 | [1] | 16,365 | [1] | 0 | [1] |
Latin America [Member] | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | |||
Litigation Settlement, Amount | 1,033 | ' | ' | ' | |||
Integration, Transition And Other Costs | ' | -1,033 | [1] | 1,923 | [1] | 0 | [1] |
North America [Member] | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | |||
Litigation Settlement, Amount | 28,461 | ' | ' | ' | |||
Integration, Transition And Other Costs | ' | ($17,123) | [1] | $8,515 | [1] | $0 | [1] |
[1] | Costs are primarily for legal, consulting and other costs associated with the integration of BrightPoint, acquisitions-related costs and other transition costs incurred for certain executives, charged to SG&A expenses. For the fiscal year ended December 28, 2013, also included is a gain of $28,461 and $1,033 related to the settlement of legal matters in North America and Latin America, respectively. For the fiscal year ended December 29, 2012, it also included asset impairments of $1,923 associated with our closure of in-country Argentina operations in Latin America, charged to SG&A expenses. |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Share data, unless otherwise specified | Jun. 29, 2013 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jul. 02, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jun. 08, 2013 | Jun. 09, 2011 |
Restricted stock and restricted stock units [Member] | Restricted stock and restricted stock units [Member] | Restricted stock and restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Performance-based grants [Member] | Performance-based grants [Member] | Performance-based grants [Member] | Performance-based grants [Member] | Stock Compensation Plan [Member] | Stock Compensation Plan [Member] | |||||
Other Award Types [Member] | Other Award Types [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | $30,340 | $27,218 | $30,811 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax benefit related to stock-based compensation expense | ' | 9,161 | 8,075 | 8,760 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in number of shares to be issued under the 2011 Incentive Plan | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in authorized share limit for every share subject to a stock option or stock appreciation right granted | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Authorized Share Limit Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.29 | 2.37 |
Maximum vesting period of options granted to employees | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum expiration period of stock options granted | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted contractual term | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of restricted stock and restricted stock units vest over time period, Minimum | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of restricted stock and restricted stock units vest over time period, Maximum | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum vesting period of remainder of restricted stock and restricted stock units vests upon achievement of certain performance measures | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum vesting period of remainder of restricted stock and restricted stock units vests upon achievement of certain performance measures | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Approximate number of shares available for grant under the 2011 Incentive Plan | ' | 13,805,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units converted to Class A Common Stock | ' | ' | ' | ' | ' | ' | ' | 2,101,000 | 2,132,000 | 1,144,000 | ' | 1,535,000 | 1,495,000 | 133,000 | ' | ' |
Shares withheld to satisfy the employees' minimum statutory obligation for the applicable taxes | ' | ' | ' | ' | ' | ' | ' | 684,000 | 683,000 | 326,000 | ' | ' | ' | ' | ' | ' |
Payment for employees' minimum statutory obligation for taxes | ' | ' | ' | ' | ' | ' | ' | 13,045 | 13,011 | 6,294 | ' | ' | ' | ' | ' | ' |
Number of shares, forfeited | ' | ' | ' | ' | 447,000 | 147,000 | 1,006,000 | ' | ' | ' | 772,000 | ' | ' | ' | ' | ' |
Total intrinsic value of stock options exercised | ' | 11,655 | 8,273 | 9,999 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of stock options vested and expensed | ' | 458 | 298 | 251 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | ' | 4,803 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received from stock option exercises | ' | 43,384 | 31,335 | 39,465 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefit realized for tax deduction from stock option exercises | ' | 3,785 | 2,975 | 3,248 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation cost related to non-vested restricted stock | ' | ' | ' | ' | ' | ' | ' | $57,513 | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining weighted-average period to recognize the unrecognized stock-based compensation cost, years | ' | '2 years 10 months 8 days | ' | ' | ' | ' | ' | '1 year 6 months 0 days | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Weight
Stock-Based Compensation - Weighted Average Assumptions of Options Granted (Detail) (USD $) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Expected life of stock options | '3 years 1 month 6 days | '5 years | '5 years |
Risk-free interest rate | 0.57% | 0.89% | 2.11% |
Expected stock volatility | 25.90% | 34.60% | 32.70% |
Fair value of options granted | $3.62 | $5.79 | $6.35 |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Award Activity (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 02, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Stock option, outstanding shares, beginning balance | 5,645 | 8,016 | ' | ' |
Stock option, granted, shares | 1,452 | 51 | 40 | ' |
Stock option, exercised, shares | -2,619 | -2,116 | -2,397 | ' |
Stock option, forfeited/cancelled/expired, shares | -291 | -306 | -42 | ' |
Stock option, outstanding shares, ending balance | 4,187 | 5,645 | 8,016 | 10,415 |
Stock option, vested and expected to vest, shares | 4,022 | ' | ' | ' |
Stock option, exercisable, shares | 2,783 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ' | ' | ' | ' |
Stock option, weighted-Average price, beginning balance | $17.36 | $16.72 | ' | ' |
Stock option, granted, weighted-average Price | $25.70 | $18.31 | $19.62 | ' |
Stock option, exercised, weighted-average price | $16.56 | $14.80 | $15.44 | ' |
Stock option, forfeited/cancelled/expired, weighted-average price | $20.14 | $18.37 | $16.25 | ' |
Stock option, weighted-average price, ending balance | $20.56 | $17.36 | $16.72 | $16.41 |
Stock option, vested and expected to vest, weighted-average price | $20.34 | ' | ' | ' |
Stock option, exercisable, weighted-average price | $17.83 | ' | ' | ' |
Stock option, weighted-average remaining contractual term, beginning balance | '3 years 1 month 6 days | '2 years 8 months 12 days | '2 years 9 months 18 days | '3 years 8 months 12 days |
Stock option, vested and expected to vest, weighted-average remaining contractual term | '3 years 1 month 6 days | ' | ' | ' |
Stock option, exercisable, weighted-average remaining contractual term | '2 years 8 months 12 days | ' | ' | ' |
Stock option, vested and expected to vest, aggregate intrinsic value | $15,469 | ' | ' | ' |
Stock option, aggregate intrinsic value | 15,469 | ' | ' | ' |
Stock option, exercisable, aggregate intrinsic value | $15,444 | ' | ' | ' |
StockBased_Compensation_Stock_1
Stock-Based Compensation - Stock Options Outstanding and Exercisable (Detail) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock options outstanding, number outstanding | 4,187 |
Stock options outstanding, weighted-average remaining life | '3 years 1 month 6 days |
Stock options outstanding, weighted-average exercise price | $20.56 |
Stock options exercisable, number exercisable | 2,783 |
Stock options exercisable, weighted-average exercise price | $17.83 |
$10.62 - $17.80 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock options, range of exercise prices, lower range | $10.62 |
Stock options, range of exercise prices, upper range | $17.80 |
Stock options outstanding, number outstanding | 1,296 |
Stock options outstanding, weighted-average remaining life | '2 years 9 months 18 days |
Stock options outstanding, weighted-average exercise price | $15.96 |
Stock options exercisable, number exercisable | 1,292 |
Stock options exercisable, weighted-average exercise price | $15.96 |
$17.92 - $20.70 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock options, range of exercise prices, lower range | $17.92 |
Stock options, range of exercise prices, upper range | $20.70 |
Stock options outstanding, number outstanding | 1,474 |
Stock options outstanding, weighted-average remaining life | '2 years 7 months 6 days |
Stock options outstanding, weighted-average exercise price | $19.43 |
Stock options exercisable, number exercisable | 1,474 |
Stock options exercisable, weighted-average exercise price | $19.43 |
$20.80 - $21.60 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock options, range of exercise prices, lower range | $20.80 |
Stock options, range of exercise prices, upper range | $21.60 |
Stock options outstanding, number outstanding | 17 |
Stock options outstanding, weighted-average remaining life | '3 years 2 months 12 days |
Stock options outstanding, weighted-average exercise price | $21.50 |
Stock options exercisable, number exercisable | 17 |
Stock options exercisable, weighted-average exercise price | $21.50 |
$26.00 - $26.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Stock options, range of exercise prices, lower range | $26 |
Stock options, range of exercise prices, upper range | $26 |
Stock options outstanding, number outstanding | 1,400 |
Stock options outstanding, weighted-average remaining life | '3 years 10 months 24 days |
Stock options outstanding, weighted-average exercise price | $26 |
Stock options exercisable, number exercisable | 0 |
Stock options exercisable, weighted-average exercise price | $0 |
StockBased_Compensation_Activi
Stock-Based Compensation - Activity Related to Restricted Stock and Restricted Stock Units (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 02, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ' | ' | ' | ' |
Weighted-average grant date fair value, non-vested, beginning balance | $15.13 | $12.98 | ' | $10.84 |
Weighted-average grant date fair value, granted | $19.26 | $17.21 | $19.37 | ' |
Weighted-average grant date fair value, vested | $18.34 | $12.79 | $9.92 | ' |
Weighted-average grant date fair value, forfeited | $17.74 | $17.66 | $18.02 | ' |
Weighted-average grant date fair value, non-vested, ending balance | $16.39 | $15.13 | $12.98 | $10.84 |
Restricted stock and restricted stock units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' |
Number of shares, non-vested, beginning balance | 5,507 | 4,920 | ' | 5,110 |
Number of shares, granted | 4,071 | 2,866 | 1,961 | ' |
Number of shares, vested | -2,101 | -2,132 | -1,145 | ' |
Number of shares, forfeited | -447 | -147 | -1,006 | ' |
Number of shares, non-vested, ending balance | 7,030 | 5,507 | 4,920 | 5,110 |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Contributions charged to expense | $4,891 | $4,350 | $3,859 |
Common_Stock_Additional_Inform
Common Stock - Additional Information (Detail) (USD $) | 1 Months Ended | ||||||||||
Oct. 31, 2010 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Class A Common Stock | Class A Common Stock | Class A Common Stock | Class A Common Stock | Class B Common Stock [Member] | Class B Common Stock [Member] | Class B Common Stock [Member] | |||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares authorized for repurchase program | $400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock to be repurchased under share repurchase program | ' | $124,095,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | ' | ' | ' | 500,000,000 | 500,000,000 | ' | ' | 135,000,000 | 135,000,000 | ' |
Common stock, par value | ' | ' | ' | ' | $0.01 | $0.01 | ' | ' | $0.01 | $0.01 | ' |
Preferred stock, shares authorized | ' | 25,000,000 | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | ' | ' | ' | ' | 191,877,000 | 188,349,000 | ' | ' | 0 | 0 | 0 |
Common stock, shares outstanding | ' | ' | ' | ' | 154,356,000 | 150,320,000 | 149,484,000 | 158,745,000 | 0 | 0 | 0 |
Preferred stock, shares issued | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares outstanding | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' |
Common_Stock_Stock_Repurchase_
Common Stock - Stock Repurchase and Issuance Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Equity [Abstract] | ' | ' | ' |
Cumulative balance, shares, beginning balance | 38,029 | 35,643 | 23,713 |
Repurchase of Class A Common Stock (in shares) | ' | 2,729 | 12,476 |
Issuance of Class A Common Stock (in shares) | -508 | -343 | -546 |
Cumulative balance, shares, ending balance | 37,521 | 38,029 | 35,643 |
Cumulative balance, weighted-average price per share, beginning balance | $17.04 | $16.96 | $16.40 |
Repurchase of Class A Common Stock, weighted-average price per share | ' | $18.32 | $18.11 |
Issuance of Class A Common Stock, weighted-average price per share | $17.24 | $18.27 | $19.01 |
Cumulative balance, weighted-average price per share, ending balance | $17.04 | $17.04 | $16.96 |
Cumulative balance, net amount, beginning balance | $648,066 | $604,331 | $388,817 |
Repurchase of Class A Common Stock | 0 | 50,000 | 225,905 |
Issuance of Class A Common Stock, net amount repurchased | -8,766 | -6,265 | -10,391 |
Cumulative balance, net amount, ending balance | $639,300 | $648,066 | $604,331 |
Common_Stock_Changes_in_Number
Common Stock - Changes in Number of Outstanding Shares of Class A Common Stock (Detail) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Stock options exercised | 2,619,000 | 2,116,000 | 2,397,000 |
Repurchase of Class A Common Stock | ' | -2,729,000 | -12,476,000 |
Class A Common Stock [Member] | ' | ' | ' |
Common stock, shares, outstanding, beginning balance | 150,320,000 | 149,484,000 | 158,745,000 |
Stock options exercised | 2,619,000 | 2,116,000 | 2,397,000 |
Release of restricted stock units, net of shares withheld for employee taxes | 1,402,000 | 1,432,000 | 791,000 |
Grant of restricted Class A Common Stock | 15,000 | 17,000 | 27,000 |
Repurchase of Class A Common Stock | 0 | -2,729,000 | -12,476,000 |
Common stock, shares, outstanding, ending balance | 154,356,000 | 150,320,000 | 149,484,000 |
Legal_Settlement_Details
Legal Settlement (Details) (USD $) | 1 Months Ended | |
In Thousands, unless otherwise specified | Jul. 31, 2013 | Jan. 31, 2014 |
Subsequent Event [Member] | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Litigation Settlement, Amount | $29,494 | ' |
Subsequent Event [Line Items] | ' | ' |
Litigation Settlement, Additional Contingent Amount | ' | $6,500 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||
Allowance for doubtful accounts [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Valuation Allowances and Reserves, Balance at Beginning of Year | $63,815 | $50,635 | $67,006 | |||
Valuation Allowances and Reserves, Charged to Costs and Expenses | 13,564 | 18,054 | 7,960 | |||
Valuation Allowances and Reserves, Deductions | -21,217 | -19,177 | -21,841 | |||
Valuation Allowances and Reserves, Other | 297 | [1] | 14,303 | [1] | -2,490 | [1] |
Valuation Allowances and Reserves, Balance at End of Year | 56,459 | 63,815 | 50,635 | |||
Allowance for sales returns [Member] | ' | ' | ' | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | |||
Valuation Allowances and Reserves, Balance at Beginning of Year | 14,219 | 9,601 | 8,788 | |||
Valuation Allowances and Reserves, Charged to Costs and Expenses | 202,674 | 170,608 | 203,567 | |||
Valuation Allowances and Reserves, Deductions | -204,133 | -169,483 | -202,532 | |||
Valuation Allowances and Reserves, Other | 332 | [1] | 3,493 | [1] | -222 | [1] |
Valuation Allowances and Reserves, Balance at End of Year | $13,092 | $14,219 | $9,601 | |||
[1] | “Other†includes recoveries, acquisitions, and the effect of fluctuation in foreign currency. |