Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Apr. 04, 2015 | |
Document And Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | FALSE |
Document Period End Date | 4-Apr-15 |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | Q1 |
Trading Symbol | IM |
Entity Registrant Name | INGRAM MICRO INC |
Entity Central Index Key | 1018003 |
Current Fiscal Year End Date | -1 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 156,263,977 |
CONSOLIDATED_BALANCE_SHEET
CONSOLIDATED BALANCE SHEET (USD $) | Apr. 04, 2015 | Jan. 03, 2015 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $509,883 | $692,777 |
Trade accounts receivable (less allowances of $65,066 and $70,716 at April 4, 2015 and January 3, 2015, respectively) | 5,015,639 | 6,115,328 |
Inventory | 4,252,845 | 4,145,012 |
Other current assets | 609,549 | 532,406 |
Total current assets | 10,387,916 | 11,485,523 |
Property and equipment, net | 439,290 | 432,430 |
Goodwill | 553,802 | 532,483 |
Intangible assets, net | 340,161 | 318,689 |
Other assets | 52,495 | 62,318 |
Total assets | 11,773,664 | 12,831,443 |
Current liabilities: | ||
Accounts payable | 5,558,643 | 6,522,369 |
Accrued expenses | 501,854 | 542,038 |
Short-term debt and current maturities of long-term debt | 158,589 | 372,026 |
Total current liabilities | 6,219,086 | 7,436,433 |
Long-term debt, less current maturities | 1,256,978 | 1,096,889 |
Other liabilities | 123,871 | 132,295 |
Total liabilities | 7,599,935 | 8,665,617 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred Stock, $0.01 par value, 25,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Additional paid-in capital | 1,467,335 | 1,461,705 |
Treasury stock, 37,349 and 37,349 shares at April 4, 2015 and January 3, 2015, respectively | -636,382 | -636,493 |
Retained earnings | 3,371,453 | 3,328,178 |
Accumulated other comprehensive income (loss) | -30,613 | 10,501 |
Total stockholders’ equity | 4,173,729 | 4,165,826 |
Total liabilities and stockholders’ equity | 11,773,664 | 12,831,443 |
Class A Common Stock | ||
Stockholders’ equity: | ||
Common Stock | 1,936 | 1,935 |
Class B Common Stock | ||
Stockholders’ equity: | ||
Common Stock | $0 | $0 |
CONSOLIDATED_BALANCE_SHEET_Par
CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $) | Apr. 04, 2015 | Jan. 03, 2015 |
In Thousands, except Share data, unless otherwise specified | ||
Allowances for trade accounts receivable | $65,066 | $70,716 |
Preferred Stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred Stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | 0 | 0 |
Treasury stock, shares (in shares) | 37,349,000 | 37,349,000 |
Class A Common Stock | ||
Common Stock, par value (in dollars per share) | $0.01 | $0.01 |
Common Stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common Stock, shares issued (in shares) | 193,613,000 | 193,563,000 |
Common Stock, shares outstanding (in shares) | 156,264,000 | 156,214,000 |
Class B Common Stock | ||
Common Stock, par value (in dollars per share) | $0.01 | $0.01 |
Common Stock, shares authorized (in shares) | 135,000,000 | 135,000,000 |
Common Stock, shares issued (in shares) | 0 | 0 |
Common Stock, shares outstanding (in shares) | 0 | 0 |
CONSOLIDATED_STATEMENT_OF_INCO
CONSOLIDATED STATEMENT OF INCOME (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
Income Statement [Abstract] | ||
Net sales | $10,644,426 | $10,383,989 |
Cost of sales | 10,026,965 | 9,773,409 |
Gross profit | 617,461 | 610,580 |
Operating expenses: | ||
Selling, general and administrative | 499,775 | 489,644 |
Amortization of intangible assets | 15,931 | 14,152 |
Reorganization costs | 4,040 | 38,424 |
Total operating expenses | 519,746 | 542,220 |
Income from operations | 97,715 | 68,360 |
Other expense (income): | ||
Interest income | -458 | -1,425 |
Interest expense | 22,158 | 19,322 |
Net foreign exchange loss (gain) | 7,538 | 1,588 |
Other | 3,462 | 4,983 |
Total other expense (income) | 32,700 | 24,468 |
Income before income taxes | 65,015 | 43,892 |
Provision for income taxes | 21,740 | 19,059 |
Net income | $43,275 | $24,833 |
Basic earnings per share (in dollars per share) | $0.28 | $0.16 |
Diluted earnings per share (in dollars per share) | $0.27 | $0.16 |
CONSOLIDATED_STATEMENT_OF_COMP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
Statement of Comprehensive Income [Abstract] | ||
Net income | $43,275 | $24,833 |
Other comprehensive loss, net of tax: | ||
Foreign currency translation adjustment | -41,114 | -4,974 |
Other comprehensive loss, net of tax | -41,114 | -4,974 |
Comprehensive income | $2,161 | $19,859 |
CONSOLIDATED_STATEMENT_OF_CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
Cash flows from operating activities: | ||
Net income | $43,275 | $24,833 |
Adjustments to reconcile net income to cash provided (used) by operating activities: | ||
Depreciation and amortization | 37,321 | 34,219 |
Stock-based compensation | 6,514 | 7,886 |
Excess tax benefit from stock-based compensation | -59 | -2,210 |
Gain on sale of property and equipment | -62 | 0 |
Noncash charges for interest and bond discount amortization | 792 | 587 |
Deferred income taxes | 19,653 | 4,526 |
Changes in operating assets and liabilities, net of effects of acquisitions: | ||
Trade accounts receivable | 1,070,791 | 896,266 |
Inventory | -132,717 | -184,173 |
Other current assets | -83,217 | -107,723 |
Accounts payable | -695,593 | -985,564 |
Change in book overdrafts | -136,837 | 32,255 |
Accrued expenses | -70,890 | -147,332 |
Cash provided (used) by operating activities | 58,971 | -426,430 |
Cash flows from investing activities: | ||
Capital expenditures | -21,767 | -22,320 |
Sale of marketable securities, net | 0 | -50 |
Proceeds from sale of property and equipment | 111 | 0 |
Cost-based investment | 0 | -10,000 |
Acquisitions, net of cash acquired | -88,561 | |
Cash used by investing activities | -110,217 | -32,370 |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options | 704 | 23,014 |
Excess tax benefit from stock-based compensation | 59 | 2,210 |
Net proceeds from (repayments of) revolving credit facilities | -123,676 | 173,075 |
Cash provided (used) by financing activities | -122,913 | 198,299 |
Effect of exchange rate changes on cash and cash equivalents | -8,735 | 10,622 |
Decrease in cash and cash equivalents | -182,894 | -249,879 |
Cash and cash equivalents, beginning of period | 692,777 | 674,390 |
Cash and cash equivalents, end of period | $509,883 | $424,511 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 3 Months Ended |
Apr. 04, 2015 | |
Accounting Policies [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 (which includes Middle East and Africa); and Latin America. | |
The consolidated financial statements include the accounts of Ingram Micro Inc. and its subsidiaries. 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. These consolidated financial statements have been prepared by us, without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). In the opinion of management, the accompanying unaudited consolidated financial statements contain all material adjustments (consisting of only normal, recurring adjustments) necessary to fairly state our consolidated financial position as of April 4, 2015, our consolidated results of operations and comprehensive income for the thirteen weeks ended April 4, 2015 and March 29, 2014 and our consolidated cash flows for the thirteen weeks ended April 4, 2015 and March 29, 2014. All significant intercompany accounts and transactions have been eliminated in consolidation. As permitted under the applicable rules and regulations of the SEC, these consolidated financial statements do not include all disclosures and footnotes normally included with annual consolidated financial statements and, accordingly, should be read in conjunction with the consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K filed with the SEC for the year ended January 3, 2015. The consolidated results of operations for the thirteen weeks ended April 4, 2015 may not be indicative of the consolidated results of operations that can be expected for the full year. | |
Historically, our reporting units coincided with the geographic operating segments of our IT product distribution business, including North America, Europe, Asia-Pacific and Latin America. In the fourth quarter of 2012, we acquired BrightPoint Inc., or BrightPoint, a global leader in providing devices lifecycle services to the wireless industry, and added this as a reportable segment. Since the acquisition of BrightPoint, we have continued to integrate the BrightPoint operations into our existing infrastructure, including distribution centers, offices, ERP systems and shared service centers. As we approach completion of this integration, discrete financial information for the legacy BrightPoint operations is no longer available and, therefore, we have included the results of BrightPoint into our geographic segments of North America, Europe, Asia-Pacific and Latin America, beginning in the second quarter of 2014. As a result, we have retrospectively reclassified the segment information included in Note 11 to conform to the new presentation. The measure of segment profit is income from operations. | |
Book Overdrafts | |
Book overdrafts of $263,486 and $400,323 as of April 4, 2015 and January 3, 2015, 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 other 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 April 4, 2015 and January 3, 2015, or any balance on any given date. | |
Trade Accounts Receivable Factoring Programs | |
We have several uncommitted factoring programs under which trade accounts receivable of several large customers may be sold, without recourse, to financial institutions. Available capacity under these programs is dependent on the amount of trade accounts receivable already sold into these programs and the financial institutions’ willingness to purchase such receivables. At April 4, 2015 and January 3, 2015, we had a total of $220,057, and $276,808, respectively, of trade accounts receivable sold to and held by financial institutions under these programs. Factoring fees of $1,320 and $956 incurred for the thirteen weeks ended April 4, 2015 and March 29, 2014, respectively, related to the sale of trade accounts receivable under these facilities are included in “other” in the other expense (income) section of our consolidated statement of income. |
Share_Repurchase_Program
Share Repurchase Program | 3 Months Ended | ||||||||||
Apr. 04, 2015 | |||||||||||
Equity [Abstract] | |||||||||||
Share Repurchase Program | Share Repurchase Program | ||||||||||
Our Board of Directors has authorized a $400,000 share repurchase program that expires on October 27, 2015, of which $124,095 was remaining for repurchase at April 4, 2015. Under this 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. 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. 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 (the "2011 Incentive Plan") (see Note 4). We did not repurchase shares during the thirteen weeks ended April 4, 2015. Our treasury stock issuance activity for the thirteen weeks ended April 4, 2015 is summarized in the table below: | |||||||||||
Shares | Weighted | Amount | |||||||||
Average Price | |||||||||||
Per Share | |||||||||||
Cumulative balance of treasury stock at January 3, 2015 | 37,349 | $ | 17.04 | $ | 636,493 | ||||||
Issuance of Class A Common Stock | — | 16.77 | (111 | ) | |||||||
Cumulative balance of treasury stock at April 4, 2015 | 37,349 | $ | 17.04 | $ | 636,382 | ||||||
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Earnings Per Share [Abstract] | ||||||||
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: | ||||||||
Thirteen Weeks Ended | ||||||||
April 4, 2015 | March 29, 2014 | |||||||
Net income | $ | 43,275 | $ | 24,833 | ||||
Weighted average shares | 156,244 | 154,771 | ||||||
Basic EPS | $ | 0.28 | $ | 0.16 | ||||
Weighted average shares, including the dilutive effect of stock-based awards (3,959 and 4,229 for the thirteen weeks ended April 4, 2015 and March 29, 2014, respectively) | 160,203 | 159,000 | ||||||
Diluted EPS | $ | 0.27 | $ | 0.16 | ||||
There were approximately 2,083 and 1,466 stock-based awards for the thirteen weeks ended April 4, 2015 and March 29, 2014, respectively, that 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 during the respective periods, thereby having an antidilutive effect. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||
Stock-Based Compensation | Stock-Based Compensation | |||||||
We currently have a single stock incentive plan, the 2011 Incentive Plan, amended during the second quarter of 2013, for the granting of equity-based incentive 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. The performance measures for vesting of restricted stock and restricted stock units for grants to management for the periods presented are based on earnings growth, return on invested capital, total shareholder return, income from operations as a percent of revenue and income before tax. Awards granted under the 2011 Incentive Plan were as follows: | ||||||||
Thirteen Weeks Ended | ||||||||
April 4, 2015 | March 29, 2014 | |||||||
Stock options granted (a) | — | 61 | ||||||
Restricted stock and restricted stock units granted (a) | 18 | 87 | ||||||
Stock-based compensation expense | $ | 6,514 | $ | 7,886 | ||||
Related income tax benefit | $ | 2,181 | $ | 2,706 | ||||
Exercised stock options | 38 | 546 | ||||||
Vested restricted stock and/or restricted stock units (b) | 15 | 427 | ||||||
(a) As of April 4, 2015, approximately 13,277 shares were available for grant under the 2011 Incentive Plan, taking into account granted options, time-vested restricted stock units/awards and performance-vested restricted stock units assuming maximum achievement. | ||||||||
(b) Includes 0 and 247 shares, for thirteen weeks ended April 4, 2015 and March 29, 2014, respectively, which were issued based on performance-based grants previously approved by the Human Resources Committee of the Board of Directors. The remainder of the shares are time-based grants. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 3 Months Ended | |||||||||||||||
Apr. 04, 2015 | ||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||
Derivative Financial Instruments | Derivative Financial Instruments | |||||||||||||||
We 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. | ||||||||||||||||
The notional amounts and fair values of derivative instruments in our consolidated balance sheet were as follows: | ||||||||||||||||
Notional Amounts (1) | Fair Value | |||||||||||||||
April 4, | January 3, | April 4, | January 3, | |||||||||||||
2015 | 2015 | 2015 | 2015 | |||||||||||||
Derivatives not receiving hedge accounting treatment recorded in: | ||||||||||||||||
Other current assets | ||||||||||||||||
Foreign exchange contracts | $ | 1,630,482 | $ | 1,863,626 | $ | 39,420 | $ | 31,213 | ||||||||
Accrued expenses | ||||||||||||||||
Foreign exchange contracts | 634,562 | 450,352 | (8,008 | ) | (1,793 | ) | ||||||||||
Total | $ | 2,265,044 | $ | 2,313,978 | $ | 31,412 | $ | 29,420 | ||||||||
(1) Notional amounts represent the gross amount of foreign currency bought or sold at maturity for foreign exchange contracts. | ||||||||||||||||
The amount recognized in earnings from our derivative instruments not receiving hedge accounting treatment, including ineffectiveness, is recorded in net foreign exchange loss (gain) as follows and was largely offset by the change in fair value of the underlying hedged assets or liabilities: | ||||||||||||||||
Thirteen Weeks Ended | ||||||||||||||||
4-Apr-15 | 29-Mar-14 | |||||||||||||||
Net gain (loss) recognized in earnings | $ | 103,723 | $ | (14,667 | ) | |||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||||||
Apr. 04, 2015 | ||||||||||||||||||||
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 April 4, 2015, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
April 4, 2015 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 266 | $ | 266 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 52,857 | 52,857 | — | — | ||||||||||||||||
Derivative assets | 39,420 | — | 39,420 | — | ||||||||||||||||
Total assets at fair value | $ | 92,543 | $ | 53,123 | $ | 39,420 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 8,008 | $ | — | $ | 8,008 | $ | — | ||||||||||||
Contingent consideration | 7,096 | — | — | 7,096 | ||||||||||||||||
Total liabilities at fair value | $ | 15,104 | $ | — | $ | 8,008 | $ | 7,096 | ||||||||||||
(a) | Included in other current assets in our consolidated balance sheet. | |||||||||||||||||||
As of January 3, 2015, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
3-Jan-15 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 90 | $ | 90 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 56,616 | 56,616 | — | — | ||||||||||||||||
Derivative assets | 31,213 | — | 31,213 | — | ||||||||||||||||
Total assets at fair value | $ | 87,919 | $ | 56,706 | $ | 31,213 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 1,793 | $ | — | $ | 1,793 | $ | — | ||||||||||||
Contingent consideration | 7,647 | — | — | 7,647 | ||||||||||||||||
Total liabilities at fair value | $ | 9,440 | $ | — | $ | 1,793 | $ | 7,647 | ||||||||||||
(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 2024, 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: | ||||||||||||||||||||
April 4, 2015 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Carrying Value | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 323,291 | $ | — | $ | 323,291 | $ | — | $ | 300,000 | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 319,328 | — | 319,328 | — | 298,679 | |||||||||||||||
Senior unsecured notes, 4.95% due 2024 | 520,273 | — | 520,273 | — | 498,299 | |||||||||||||||
$ | 1,162,892 | $ | — | $ | 1,162,892 | $ | — | $ | 1,096,978 | |||||||||||
3-Jan-15 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Carrying Value | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 323,527 | $ | — | $ | 323,527 | $ | — | $ | 300,000 | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 314,954 | — | 314,954 | — | 298,634 | |||||||||||||||
Senior unsecured notes, 4.95% due 2024 | 499,923 | — | 499,923 | — | 498,255 | |||||||||||||||
$ | 1,138,404 | $ | — | $ | 1,138,404 | $ | — | $ | 1,096,889 | |||||||||||
Acquisitions_Goodwill_and_Inta
Acquisitions, Goodwill and Intangible Assets | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Business Combinations [Abstract] | ||||||||
Acquisitions, Goodwill and Intangible Assets | Acquisitions, Goodwill and Intangible Assets | |||||||
On February 27, 2015, we acquired 97.5% of the outstanding shares of Anovo Expansion SAS ("Anovo"), a leading global provider of device lifecycle services for a payment of $68,123, net of cash acquired, plus assumption of debt of $32,486. The major classes of assets and liabilities to which we preliminarily allocated the purchase price were $41,200 to acquired intangible assets, and $33,359 to goodwill. The identifiable intangible assets primarily consist of developed technology, trade name and customer relationships. The goodwill recognized in connection with these acquisitions is primarily attributable to the assembled workforce. As of April 4, 2015, we recorded minority interest of $1,391 in other liabilities on the consolidated balance sheet for the remaining 2.5% of the outstanding shares. | ||||||||
On March 16, 2015, we acquired all of the outstanding shares of Tech Data Peru S.A.C. and Tech Data Chile S.A. for a payment of $12,588, net of cash acquired, plus the assumption of debt of $43,658. The consideration paid reflects the fair value of net tangible assets, which primarily consist of accounts receivable, inventory and accounts payable. The purchase price is subject to a true up, if necessary, relating to the final closing balance sheet. | ||||||||
The acquired entities have been included in our consolidated results of operations since the respective acquisition dates. Pro forma results of operations have not been presented for the 2015 acquisitions because the historical results of these acquisitions, individually and in aggregate, were not material to our consolidated results of operations. | ||||||||
During the three months ended April 4, 2015, we acquired an additional 19% of the outstanding shares of Armada Computer Systems for $7,850. As of April 4, 2015, we owned 77% of the outstanding shares, and we recorded minority interest of $10,114 in other liabilities on the consolidated balance sheet for the remaining 23% of the outstanding shares. | ||||||||
Finite-lived identifiable intangible assets are amortized over their remaining estimated lives ranging up to 13 years with the predominant amounts having lives of 3 to 10 years. The gross and net carrying amounts of finite-lived identifiable intangible assets are as follows: | ||||||||
April 4, | January 3, | |||||||
2015 | 2015 | |||||||
Gross carrying amount of finite-lived intangible assets | $ | 521,282 | $ | 488,753 | ||||
Net carrying amount of finite-lived intangible assets | $ | 340,161 | $ | 318,689 | ||||
Reorganization_Costs
Reorganization Costs | 3 Months Ended | ||||||||||||||||||||||
Apr. 04, 2015 | |||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||
Reorganization Costs | Reorganization Costs | ||||||||||||||||||||||
2015 and 2014 Actions | |||||||||||||||||||||||
On February 13, 2014 we announced a plan to proceed with a global organizational effectiveness program that involved aligning and leveraging our infrastructure globally with our evolving businesses, opportunities and resources, and de-layering and simplifying the organization. | |||||||||||||||||||||||
As a result of the organizational effectiveness program and continued acquisition integration activities, we recognized reorganization charges of $4,040 and $38,424 for the thirteen weeks ended April 4, 2015 and March 29, 2014, respectively, primarily related to employee termination benefits. | |||||||||||||||||||||||
2013 and Prior 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 and Asia-Pacific to respond to the current market environment, and (c) the transition of certain transaction-oriented service and support functions to shared service centers. | |||||||||||||||||||||||
A summary of the reorganization and expense-reduction program costs incurred in the thirteen weeks ended April 4, 2015 and March 29, 2014, are as follows: | |||||||||||||||||||||||
Reorganization Costs | |||||||||||||||||||||||
Headcount Reduction | Employee Termination Benefits | Facility and Other Costs | Total Reorganization Costs | Adjustments to Prior Year Costs | Total Costs | ||||||||||||||||||
Thirteen weeks ended April 4, 2015 | |||||||||||||||||||||||
North America | $ | 789 | $ | 33 | $ | 822 | $ | — | $ | 822 | |||||||||||||
Europe | 1,958 | 221 | 2,179 | — | 2,179 | ||||||||||||||||||
Asia-Pacific | 511 | 511 | — | 511 | |||||||||||||||||||
Latin America | 29 | 499 | 528 | — | 528 | ||||||||||||||||||
Total | 71 | $ | 3,287 | $ | 753 | $ | 4,040 | $ | — | $ | 4,040 | ||||||||||||
Thirteen weeks ended March 29, 2014 | |||||||||||||||||||||||
North America | $ | 6,432 | $ | — | $ | 6,432 | $ | — | $ | 6,432 | |||||||||||||
Europe | 30,320 | — | 30,320 | (36 | ) | 30,284 | |||||||||||||||||
Asia-Pacific | 1,354 | — | 1,354 | (115 | ) | 1,239 | |||||||||||||||||
Latin America | 469 | — | 469 | — | 469 | ||||||||||||||||||
Total | 746 | $ | 38,575 | $ | — | $ | 38,575 | $ | (151 | ) | $ | 38,424 | |||||||||||
The remaining liabilities and 2015 activities associated with the aforementioned actions are summarized in the table below: | |||||||||||||||||||||||
Reorganization Liability | |||||||||||||||||||||||
Remaining Liability at January 3, 2015 | Expenses (Income), Net | Amounts Paid | Foreign Currency Translation | Remaining Liability at April 4, 2015 | |||||||||||||||||||
and Charged | |||||||||||||||||||||||
Against the | |||||||||||||||||||||||
Liability | |||||||||||||||||||||||
2015 and 2014 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | $ | 24,296 | $ | 3,287 | $ | (11,667 | ) | $ | (2,053 | ) | $ | 13,863 | |||||||||||
Facility and other costs | — | 753 | (33 | ) | — | 720 | |||||||||||||||||
Subtotal | 24,296 | 4,040 | (11,700 | ) | (2,053 | ) | 14,583 | (a) | |||||||||||||||
2013 and prior reorganization actions | |||||||||||||||||||||||
Employee termination benefits | 118 | — | (84 | ) | (9 | ) | 25 | ||||||||||||||||
Facility and other costs | 2,496 | — | (230 | ) | (106 | ) | 2,160 | ||||||||||||||||
Subtotal | 2,614 | — | (314 | ) | (115 | ) | 2,185 | (b) | |||||||||||||||
$ | 26,910 | $ | 4,040 | $ | (12,014 | ) | $ | (2,168 | ) | $ | 16,768 | ||||||||||||
(a) | We expect the remaining liabilities to be substantially utilized by the end of 2015. | ||||||||||||||||||||||
(b) | We expect the remaining liabilities to be substantially utilized by the end of 2016. |
Debt
Debt | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Debt | Debt | |||||||
The carrying value of our outstanding debt consists of the following: | ||||||||
April 4, 2015 | 3-Jan-15 | |||||||
Senior unsecured notes, 4.95% due 2024, net of unamortized discount of $1,701 and $1,745, respectively | $ | 498,299 | $ | 498,255 | ||||
Senior unsecured notes, 5.00% due 2022, net of unamortized discount of $1,321 and $1,366, respectively | 298,679 | 298,634 | ||||||
Senior unsecured notes, 5.25% due 2017 | 300,000 | 300,000 | ||||||
North America revolving trade accounts receivable-backed financing program | 160,000 | 185,000 | ||||||
Lines of credit and other debt | 158,589 | 187,026 | ||||||
1,415,567 | 1,468,915 | |||||||
Short-term debt and current maturities of long-term debt | (158,589 | ) | (372,026 | ) | ||||
$ | 1,256,978 | $ | 1,096,889 | |||||
Income_Taxes
Income Taxes | 3 Months Ended |
Apr. 04, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes |
Our effective tax rate for the thirteen weeks ended April 4, 2015 was 33.4% compared to 43.4% for the thirteen weeks ended March 29, 2014. Under U.S. accounting rules for income taxes, quarterly effective tax rates may vary significantly depending on the actual operating results in the various tax jurisdictions, as well as changes in the valuation allowance related to the expected recovery of deferred tax assets. Our effective tax rate for the thirteen weeks ended April 4, 2015 decreased by ten percentage points over the effective tax rate for the thirteen weeks ended March 29, 2014 primarily due to a disproportionate amount of reorganization costs recorded in the first quarter of 2014 relative to the full year forecasted amount. | |
The thirteen weeks ended April 4, 2015 included net discrete benefits of approximately $609 which represents 0.9 percentage point of the effective tax rate. | |
The thirteen weeks ended March 29, 2014 included net discrete benefits of approximately $1,991, or 4.5 percentage points of the effective tax rate, which primarily related to positive adjustments to certain deferred tax asset balances. | |
Our effective tax rate differed from the U.S. federal statutory rate of 35% during these periods primarily due to the items noted above, as well as the relative mix of earnings or losses within the tax jurisdictions in which we operate, such as: (a) earnings in lower-tax jurisdictions for which no U.S. taxes have been provided because such earnings are planned to be reinvested indefinitely outside the United States; (b) losses in certain jurisdictions in which we are not able to record a tax benefit; and (c) changes in the valuation allowance on deferred tax assets. | |
At April 4, 2015, we had gross unrecognized tax benefits of $28,714 compared to $30,372 at January 3, 2015, representing a net decrease of $1,658 during the thirteen weeks ended April 4, 2015. Substantially all of the gross unrecognized tax benefits, if recognized, would impact our effective tax rate in the period of recognition. | |
We recognize interest and penalties related to unrecognized tax benefits in income tax expense. In addition to the gross unrecognized tax benefits identified above, the interest and penalties recorded to date by us totaled $7,004 and $7,625 at April 4, 2015 and January 3, 2015, respectively. | |
Our future effective tax rate will continue to be affected by changes in the relative mix of taxable income and losses in the tax jurisdictions in which we operate, changes in the valuation of deferred tax assets, or changes in tax laws or interpretations thereof. In addition, our income tax returns are subject to continuous examination by the IRS and other tax authorities. The IRS has concluded its examinations of tax years prior to tax year 2012. It is possible that within the next twelve months, ongoing tax examinations in the United 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. |
Segment_Information
Segment Information | 3 Months Ended | ||||||||||||||
Apr. 04, 2015 | |||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||
Segment Information | Segment Information | ||||||||||||||
Geographic areas in which we operate include North America (the United States and Canada), Europe (Austria, Belgium, Denmark, France, Finland, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland and the United Kingdom), Asia-Pacific (Australia, the People’s Republic of China including Hong Kong, Egypt, India, Indonesia, Israel, Lebanon, Malaysia, New Zealand, Singapore, South Africa, Thailand, Turkey, and United Arab Emirates) and Latin America (Brazil, Chile, Colombia, Mexico, Peru and our Latin American export operations in Miami). See the discussion of the change in our reportable segments in Note 1. | |||||||||||||||
We do not allocate stock-based compensation recognized (see Note 4) to our operating segments; therefore, we are reporting this as a separate amount. | |||||||||||||||
Financial information by reporting segment is as follows: | |||||||||||||||
Thirteen Weeks Ended | |||||||||||||||
April 4, | March 29, | ||||||||||||||
2015 | 2014 | ||||||||||||||
Net sales | |||||||||||||||
North America | $ | 4,441,607 | $ | 4,142,097 | |||||||||||
Europe | 3,074,297 | 3,459,288 | |||||||||||||
Asia-Pacific | 2,544,210 | 2,289,139 | |||||||||||||
Latin America | 584,312 | 493,465 | |||||||||||||
Total | $ | 10,644,426 | $ | 10,383,989 | |||||||||||
Income from operations | |||||||||||||||
North America | $ | 54,300 | $ | 61,714 | |||||||||||
Europe | 6,920 | (11,206 | ) | ||||||||||||
Asia-Pacific | 31,627 | 16,748 | |||||||||||||
Latin America | 11,382 | 8,990 | |||||||||||||
Stock-based compensation expense | (6,514 | ) | (7,886 | ) | |||||||||||
Total | $ | 97,715 | $ | 68,360 | |||||||||||
Capital expenditures | |||||||||||||||
North America | $ | 16,186 | $ | 18,674 | |||||||||||
Europe | 2,686 | 2,021 | |||||||||||||
Asia-Pacific | 2,339 | 1,349 | |||||||||||||
Latin America | 556 | 276 | |||||||||||||
Total | $ | 21,767 | $ | 22,320 | |||||||||||
Depreciation | |||||||||||||||
North America | $ | 15,490 | $ | 13,638 | |||||||||||
Europe | 2,759 | 3,659 | |||||||||||||
Asia-Pacific | 2,716 | 2,414 | |||||||||||||
Latin America | 425 | 356 | |||||||||||||
Total | $ | 21,390 | $ | 20,067 | |||||||||||
Amortization of intangible assets | |||||||||||||||
North America | $ | 10,472 | $ | 9,712 | |||||||||||
Europe | 3,299 | 2,829 | |||||||||||||
Asia-Pacific | 1,958 | 1,405 | |||||||||||||
Latin America | 202 | 206 | |||||||||||||
Total | $ | 15,931 | $ | 14,152 | |||||||||||
The integration, transition and other costs included in income from operations by reporting segment is as follows: | |||||||||||||||
Thirteen Weeks Ended | |||||||||||||||
April 4, | March 29, | ||||||||||||||
2015 | 2014 | ||||||||||||||
Integration, transition and other costs (a) | |||||||||||||||
North America | $ | 4,834 | $ | 101 | |||||||||||
Europe | 1,286 | 509 | |||||||||||||
Asia-Pacific | 1,369 | 1,377 | |||||||||||||
Latin America | — | — | |||||||||||||
Total | $ | 7,489 | $ | 1,987 | |||||||||||
(a) Costs are primarily related to professional, consulting and integration costs associated with our acquisitions, as well as consulting, retention and transition costs associated with our organizational effectiveness program charged to selling, general and administrative, or SG&A, expenses. Also included is a gain of $6,600 related to the final settlement of a class action lawsuit against the manufacturers of LCD flat panel displays, which was recorded as a reduction of SG&A expense in North America in the first quarter of 2014. | |||||||||||||||
For a segment breakdown of reorganization costs, refer to Note 8. | |||||||||||||||
As of | |||||||||||||||
April 4, | 3-Jan-15 | ||||||||||||||
2015 | |||||||||||||||
Identifiable assets | |||||||||||||||
North America | $ | 5,445,884 | $ | 5,899,901 | |||||||||||
Europe | 3,186,980 | 3,599,400 | |||||||||||||
Asia-Pacific | 2,369,814 | 2,564,273 | |||||||||||||
Latin America | 770,986 | 767,869 | |||||||||||||
Total | $ | 11,773,664 | $ | 12,831,443 | |||||||||||
Long-lived assets | |||||||||||||||
North America | $ | 551,807 | $ | 561,809 | |||||||||||
Europe | 142,056 | 105,913 | |||||||||||||
Asia-Pacific | 73,570 | 76,177 | |||||||||||||
Latin America | 12,018 | 7,220 | |||||||||||||
Total | $ | 779,451 | $ | 751,119 | |||||||||||
Net sales and long-lived assets for the United States, which is our country of domicile, are as follows: | |||||||||||||||
Thirteen Weeks Ended | |||||||||||||||
4-Apr-15 | 29-Mar-14 | ||||||||||||||
Net sales: | |||||||||||||||
United States | $ | 4,112,128 | 39 | % | $ | 3,735,851 | 36 | % | |||||||
Outside of the United States | 6,532,298 | 61 | % | 6,648,138 | 64 | % | |||||||||
Total | $ | 10,644,426 | 100 | % | $ | 10,383,989 | 100 | % | |||||||
As of | |||||||||||||||
4-Apr-15 | 3-Jan-15 | ||||||||||||||
Long-lived assets: | |||||||||||||||
United States | $ | 530,663 | $ | 493,475 | |||||||||||
Outside of the United States | 248,788 | 257,644 | |||||||||||||
Total | $ | 779,451 | $ | 751,119 | |||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 04, 2015 | |
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 ($4,037 at April 4, 2015 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 ($9,244 at April 4, 2015 exchange rates) of service taxes were due on the resale of acquired software covering years 2002 through 2006, plus Brazilian Reais 25,972 ($8,247 at April 4, 2015 exchange rates) of associated penalties; (3) a 2011 Federal income tax assessment, a portion of which claims statutory penalties totaling Brazilian Reais 15,900 ($5,049 at April 4, 2015 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 ($951 at April 4, 2015 exchange rates) of service taxes due on the importation of software covering the year 2007 plus Brazilian Reais 1,498 ($476 at April 4, 2015 exchange rates) of associated penalties; and (5) a 2013 Sao Paulo municipal tax assessment claiming Brazilian Reais 10,725 ($3,406 at April 4, 2015 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 ($1,703 at April 4, 2015 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 April 4, 2015 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 for these matters could be imposed in an amount up to Brazilian Reais 250,678 ($79,600 at April 4, 2015 exchange rates). 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 their 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 factors, 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 each of the periods presented. The guarantees require us to reimburse the third party for defaults by these customers up to an aggregate of $9,464. The fair value of these guarantees has been recognized as cost of sales to these customers and is included in accrued expenses. |
New_Accounting_Standards
New Accounting Standards | 3 Months Ended |
Apr. 04, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Standards | New Accounting Standards |
In April 2015, the Financial Accounting Standards Board ("FASB") issued ASU 2015-03, "Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs", which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The standard is effective for periods beginning after December 15, 2015. The new guidance is not expected to have a material impact on our financial position. | |
In April 2015, the FASB issued ASU 2015-05, "Intangibles-Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement", which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments do not change the accounting for a customer’s accounting for service contracts. As a result of the amendments, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets. The standard is effective for periods beginning after December 15, 2015. The new guidance is not expected to have a material impact on our financial position, results of operations, or cash flows. |
Subsequent_Events_Notes
Subsequent Events (Notes) | 3 Months Ended |
Apr. 04, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events |
At April 4, 2015, we had a revolving trade accounts receivable-backed financing program in North America which provided for up to $675,000 in borrowing capacity. On April 15, 2015, we extended the maturity of this program from November 2015 to April 2018. Subject to the financial institutions’ approval and availability of eligible receivables, this program may be increased by $250,000 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. In connection with this extension, the outstanding borrowing under this financing program of $160,000 at April 4, 2015 was included in long-term debt on the consolidated balance sheet. |
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Policies) | 3 Months Ended |
Apr. 04, 2015 | |
Accounting Policies [Abstract] | |
Book Overdrafts | Book overdrafts of $263,486 and $400,323 as of April 4, 2015 and January 3, 2015, 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 other 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 April 4, 2015 and January 3, 2015, or any balance on any given date. |
Trade Accounts Receivable Factoring Programs | We have several uncommitted factoring programs under which trade accounts receivable of several large customers may be sold, without recourse, to financial institutions. Available capacity under these programs is dependent on the amount of trade accounts receivable already sold into these programs and the financial institutions’ willingness to purchase such receivables. At April 4, 2015 and January 3, 2015, we had a total of $220,057, and $276,808, respectively, of trade accounts receivable sold to and held by financial institutions under these programs. Factoring fees of $1,320 and $956 incurred for the thirteen weeks ended April 4, 2015 and March 29, 2014, respectively, related to the sale of trade accounts receivable under these facilities are included in “other” in the other expense (income) section of our consolidated statement of income. |
Share_Repurchase_Program_Table
Share Repurchase Program (Tables) | 3 Months Ended | ||||||||||
Apr. 04, 2015 | |||||||||||
Equity [Abstract] | |||||||||||
Stock Issuance Activity | Our treasury stock issuance activity for the thirteen weeks ended April 4, 2015 is summarized in the table below: | ||||||||||
Shares | Weighted | Amount | |||||||||
Average Price | |||||||||||
Per Share | |||||||||||
Cumulative balance of treasury stock at January 3, 2015 | 37,349 | $ | 17.04 | $ | 636,493 | ||||||
Issuance of Class A Common Stock | — | 16.77 | (111 | ) | |||||||
Cumulative balance of treasury stock at April 4, 2015 | 37,349 | $ | 17.04 | $ | 636,382 | ||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Earnings Per Share [Abstract] | ||||||||
Computation of Basic EPS and Diluted EPS | The computation of Basic EPS and Diluted EPS is as follows: | |||||||
Thirteen Weeks Ended | ||||||||
April 4, 2015 | March 29, 2014 | |||||||
Net income | $ | 43,275 | $ | 24,833 | ||||
Weighted average shares | 156,244 | 154,771 | ||||||
Basic EPS | $ | 0.28 | $ | 0.16 | ||||
Weighted average shares, including the dilutive effect of stock-based awards (3,959 and 4,229 for the thirteen weeks ended April 4, 2015 and March 29, 2014, respectively) | 160,203 | 159,000 | ||||||
Diluted EPS | $ | 0.27 | $ | 0.16 | ||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||
Disclosure of awards granted under incentive plan | Awards granted under the 2011 Incentive Plan were as follows: | |||||||
Thirteen Weeks Ended | ||||||||
April 4, 2015 | March 29, 2014 | |||||||
Stock options granted (a) | — | 61 | ||||||
Restricted stock and restricted stock units granted (a) | 18 | 87 | ||||||
Stock-based compensation expense | $ | 6,514 | $ | 7,886 | ||||
Related income tax benefit | $ | 2,181 | $ | 2,706 | ||||
Exercised stock options | 38 | 546 | ||||||
Vested restricted stock and/or restricted stock units (b) | 15 | 427 | ||||||
(a) As of April 4, 2015, approximately 13,277 shares were available for grant under the 2011 Incentive Plan, taking into account granted options, time-vested restricted stock units/awards and performance-vested restricted stock units assuming maximum achievement. | ||||||||
(b) Includes 0 and 247 shares, for thirteen weeks ended April 4, 2015 and March 29, 2014, respectively, which were issued based on performance-based grants previously approved by the Human Resources Committee of the Board of Directors. The remainder of the shares are time-based grants. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 3 Months Ended | |||||||||||||||
Apr. 04, 2015 | ||||||||||||||||
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 | |||||||||||||||
April 4, | January 3, | April 4, | January 3, | |||||||||||||
2015 | 2015 | 2015 | 2015 | |||||||||||||
Derivatives not receiving hedge accounting treatment recorded in: | ||||||||||||||||
Other current assets | ||||||||||||||||
Foreign exchange contracts | $ | 1,630,482 | $ | 1,863,626 | $ | 39,420 | $ | 31,213 | ||||||||
Accrued expenses | ||||||||||||||||
Foreign exchange contracts | 634,562 | 450,352 | (8,008 | ) | (1,793 | ) | ||||||||||
Total | $ | 2,265,044 | $ | 2,313,978 | $ | 31,412 | $ | 29,420 | ||||||||
(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 | The amount recognized in earnings from our derivative instruments not receiving hedge accounting treatment, including ineffectiveness, is recorded in net foreign exchange loss (gain) as follows and was largely offset by the change in fair value of the underlying hedged assets or liabilities: | |||||||||||||||
Thirteen Weeks Ended | ||||||||||||||||
4-Apr-15 | 29-Mar-14 | |||||||||||||||
Net gain (loss) recognized in earnings | $ | 103,723 | $ | (14,667 | ) | |||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||||
Apr. 04, 2015 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The fair values and carrying values of these notes are shown in the table below: | |||||||||||||||||||
April 4, 2015 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Carrying Value | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 323,291 | $ | — | $ | 323,291 | $ | — | $ | 300,000 | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 319,328 | — | 319,328 | — | 298,679 | |||||||||||||||
Senior unsecured notes, 4.95% due 2024 | 520,273 | — | 520,273 | — | 498,299 | |||||||||||||||
$ | 1,162,892 | $ | — | $ | 1,162,892 | $ | — | $ | 1,096,978 | |||||||||||
3-Jan-15 | ||||||||||||||||||||
Fair Value | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Carrying Value | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Senior unsecured notes, 5.25% due 2017 | $ | 323,527 | $ | — | $ | 323,527 | $ | — | $ | 300,000 | ||||||||||
Senior unsecured notes, 5.00% due 2022 | 314,954 | — | 314,954 | — | 298,634 | |||||||||||||||
Senior unsecured notes, 4.95% due 2024 | 499,923 | — | 499,923 | — | 498,255 | |||||||||||||||
$ | 1,138,404 | $ | — | $ | 1,138,404 | $ | — | $ | 1,096,889 | |||||||||||
As of April 4, 2015, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
April 4, 2015 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 266 | $ | 266 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 52,857 | 52,857 | — | — | ||||||||||||||||
Derivative assets | 39,420 | — | 39,420 | — | ||||||||||||||||
Total assets at fair value | $ | 92,543 | $ | 53,123 | $ | 39,420 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 8,008 | $ | — | $ | 8,008 | $ | — | ||||||||||||
Contingent consideration | 7,096 | — | — | 7,096 | ||||||||||||||||
Total liabilities at fair value | $ | 15,104 | $ | — | $ | 8,008 | $ | 7,096 | ||||||||||||
(a) | Included in other current assets in our consolidated balance sheet. | |||||||||||||||||||
As of January 3, 2015, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: | ||||||||||||||||||||
3-Jan-15 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Assets: | ||||||||||||||||||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $ | 90 | $ | 90 | $ | — | $ | — | ||||||||||||
Marketable trading securities (a) | 56,616 | 56,616 | — | — | ||||||||||||||||
Derivative assets | 31,213 | — | 31,213 | — | ||||||||||||||||
Total assets at fair value | $ | 87,919 | $ | 56,706 | $ | 31,213 | $ | — | ||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative liabilities | $ | 1,793 | $ | — | $ | 1,793 | $ | — | ||||||||||||
Contingent consideration | 7,647 | — | — | 7,647 | ||||||||||||||||
Total liabilities at fair value | $ | 9,440 | $ | — | $ | 1,793 | $ | 7,647 | ||||||||||||
(a) | Included in other current assets in our consolidated balance sheet. |
Acquisitions_Goodwill_and_Inta1
Acquisitions, Goodwill and Intangible Assets (Tables) | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Business Combinations [Abstract] | ||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | The gross and net carrying amounts of finite-lived identifiable intangible assets are as follows: | |||||||
April 4, | January 3, | |||||||
2015 | 2015 | |||||||
Gross carrying amount of finite-lived intangible assets | $ | 521,282 | $ | 488,753 | ||||
Net carrying amount of finite-lived intangible assets | $ | 340,161 | $ | 318,689 | ||||
Reorganization_Costs_Tables
Reorganization Costs (Tables) | 3 Months Ended | ||||||||||||||||||||||
Apr. 04, 2015 | |||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost | A summary of the reorganization and expense-reduction program costs incurred in the thirteen weeks ended April 4, 2015 and March 29, 2014, are as follows: | ||||||||||||||||||||||
Reorganization Costs | |||||||||||||||||||||||
Headcount Reduction | Employee Termination Benefits | Facility and Other Costs | Total Reorganization Costs | Adjustments to Prior Year Costs | Total Costs | ||||||||||||||||||
Thirteen weeks ended April 4, 2015 | |||||||||||||||||||||||
North America | $ | 789 | $ | 33 | $ | 822 | $ | — | $ | 822 | |||||||||||||
Europe | 1,958 | 221 | 2,179 | — | 2,179 | ||||||||||||||||||
Asia-Pacific | 511 | 511 | — | 511 | |||||||||||||||||||
Latin America | 29 | 499 | 528 | — | 528 | ||||||||||||||||||
Total | 71 | $ | 3,287 | $ | 753 | $ | 4,040 | $ | — | $ | 4,040 | ||||||||||||
Thirteen weeks ended March 29, 2014 | |||||||||||||||||||||||
North America | $ | 6,432 | $ | — | $ | 6,432 | $ | — | $ | 6,432 | |||||||||||||
Europe | 30,320 | — | 30,320 | (36 | ) | 30,284 | |||||||||||||||||
Asia-Pacific | 1,354 | — | 1,354 | (115 | ) | 1,239 | |||||||||||||||||
Latin America | 469 | — | 469 | — | 469 | ||||||||||||||||||
Total | 746 | $ | 38,575 | $ | — | $ | 38,575 | $ | (151 | ) | $ | 38,424 | |||||||||||
Schedule of Restructuring and Related Costs | The remaining liabilities and 2015 activities associated with the aforementioned actions are summarized in the table below: | ||||||||||||||||||||||
Reorganization Liability | |||||||||||||||||||||||
Remaining Liability at January 3, 2015 | Expenses (Income), Net | Amounts Paid | Foreign Currency Translation | Remaining Liability at April 4, 2015 | |||||||||||||||||||
and Charged | |||||||||||||||||||||||
Against the | |||||||||||||||||||||||
Liability | |||||||||||||||||||||||
2015 and 2014 Reorganization actions | |||||||||||||||||||||||
Employee termination benefits | $ | 24,296 | $ | 3,287 | $ | (11,667 | ) | $ | (2,053 | ) | $ | 13,863 | |||||||||||
Facility and other costs | — | 753 | (33 | ) | — | 720 | |||||||||||||||||
Subtotal | 24,296 | 4,040 | (11,700 | ) | (2,053 | ) | 14,583 | (a) | |||||||||||||||
2013 and prior reorganization actions | |||||||||||||||||||||||
Employee termination benefits | 118 | — | (84 | ) | (9 | ) | 25 | ||||||||||||||||
Facility and other costs | 2,496 | — | (230 | ) | (106 | ) | 2,160 | ||||||||||||||||
Subtotal | 2,614 | — | (314 | ) | (115 | ) | 2,185 | (b) | |||||||||||||||
$ | 26,910 | $ | 4,040 | $ | (12,014 | ) | $ | (2,168 | ) | $ | 16,768 | ||||||||||||
(a) | We expect the remaining liabilities to be substantially utilized by the end of 2015. | ||||||||||||||||||||||
(b) | We expect the remaining liabilities to be substantially utilized by the end of 2016. |
Debt_Tables
Debt (Tables) | 3 Months Ended | |||||||
Apr. 04, 2015 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Carrying Value of Outstanding Debt | The carrying value of our outstanding debt consists of the following: | |||||||
April 4, 2015 | 3-Jan-15 | |||||||
Senior unsecured notes, 4.95% due 2024, net of unamortized discount of $1,701 and $1,745, respectively | $ | 498,299 | $ | 498,255 | ||||
Senior unsecured notes, 5.00% due 2022, net of unamortized discount of $1,321 and $1,366, respectively | 298,679 | 298,634 | ||||||
Senior unsecured notes, 5.25% due 2017 | 300,000 | 300,000 | ||||||
North America revolving trade accounts receivable-backed financing program | 160,000 | 185,000 | ||||||
Lines of credit and other debt | 158,589 | 187,026 | ||||||
1,415,567 | 1,468,915 | |||||||
Short-term debt and current maturities of long-term debt | (158,589 | ) | (372,026 | ) | ||||
$ | 1,256,978 | $ | 1,096,889 | |||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | ||||||||||||||
Apr. 04, 2015 | |||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||
Financial Information by Reporting Segments | Financial information by reporting segment is as follows: | ||||||||||||||
Thirteen Weeks Ended | |||||||||||||||
April 4, | March 29, | ||||||||||||||
2015 | 2014 | ||||||||||||||
Net sales | |||||||||||||||
North America | $ | 4,441,607 | $ | 4,142,097 | |||||||||||
Europe | 3,074,297 | 3,459,288 | |||||||||||||
Asia-Pacific | 2,544,210 | 2,289,139 | |||||||||||||
Latin America | 584,312 | 493,465 | |||||||||||||
Total | $ | 10,644,426 | $ | 10,383,989 | |||||||||||
Income from operations | |||||||||||||||
North America | $ | 54,300 | $ | 61,714 | |||||||||||
Europe | 6,920 | (11,206 | ) | ||||||||||||
Asia-Pacific | 31,627 | 16,748 | |||||||||||||
Latin America | 11,382 | 8,990 | |||||||||||||
Stock-based compensation expense | (6,514 | ) | (7,886 | ) | |||||||||||
Total | $ | 97,715 | $ | 68,360 | |||||||||||
Capital expenditures | |||||||||||||||
North America | $ | 16,186 | $ | 18,674 | |||||||||||
Europe | 2,686 | 2,021 | |||||||||||||
Asia-Pacific | 2,339 | 1,349 | |||||||||||||
Latin America | 556 | 276 | |||||||||||||
Total | $ | 21,767 | $ | 22,320 | |||||||||||
Depreciation | |||||||||||||||
North America | $ | 15,490 | $ | 13,638 | |||||||||||
Europe | 2,759 | 3,659 | |||||||||||||
Asia-Pacific | 2,716 | 2,414 | |||||||||||||
Latin America | 425 | 356 | |||||||||||||
Total | $ | 21,390 | $ | 20,067 | |||||||||||
Amortization of intangible assets | |||||||||||||||
North America | $ | 10,472 | $ | 9,712 | |||||||||||
Europe | 3,299 | 2,829 | |||||||||||||
Asia-Pacific | 1,958 | 1,405 | |||||||||||||
Latin America | 202 | 206 | |||||||||||||
Total | $ | 15,931 | $ | 14,152 | |||||||||||
The integration, transition and other costs included in income from operations by reporting segment is as follows: | |||||||||||||||
Thirteen Weeks Ended | |||||||||||||||
April 4, | March 29, | ||||||||||||||
2015 | 2014 | ||||||||||||||
Integration, transition and other costs (a) | |||||||||||||||
North America | $ | 4,834 | $ | 101 | |||||||||||
Europe | 1,286 | 509 | |||||||||||||
Asia-Pacific | 1,369 | 1,377 | |||||||||||||
Latin America | — | — | |||||||||||||
Total | $ | 7,489 | $ | 1,987 | |||||||||||
(a) Costs are primarily related to professional, consulting and integration costs associated with our acquisitions, as well as consulting, retention and transition costs associated with our organizational effectiveness program charged to selling, general and administrative, or SG&A, expenses. Also included is a gain of $6,600 related to the final settlement of a class action lawsuit against the manufacturers of LCD flat panel displays, which was recorded as a reduction of SG&A expense in North America in the first quarter of 2014. | |||||||||||||||
For a segment breakdown of reorganization costs, refer to Note 8. | |||||||||||||||
As of | |||||||||||||||
April 4, | 3-Jan-15 | ||||||||||||||
2015 | |||||||||||||||
Identifiable assets | |||||||||||||||
North America | $ | 5,445,884 | $ | 5,899,901 | |||||||||||
Europe | 3,186,980 | 3,599,400 | |||||||||||||
Asia-Pacific | 2,369,814 | 2,564,273 | |||||||||||||
Latin America | 770,986 | 767,869 | |||||||||||||
Total | $ | 11,773,664 | $ | 12,831,443 | |||||||||||
Long-lived assets | |||||||||||||||
North America | $ | 551,807 | $ | 561,809 | |||||||||||
Europe | 142,056 | 105,913 | |||||||||||||
Asia-Pacific | 73,570 | 76,177 | |||||||||||||
Latin America | 12,018 | 7,220 | |||||||||||||
Total | $ | 779,451 | $ | 751,119 | |||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | |||||||||||||||
As of | |||||||||||||||
April 4, | 3-Jan-15 | ||||||||||||||
2015 | |||||||||||||||
Identifiable assets | |||||||||||||||
North America | $ | 5,445,884 | $ | 5,899,901 | |||||||||||
Europe | 3,186,980 | 3,599,400 | |||||||||||||
Asia-Pacific | 2,369,814 | 2,564,273 | |||||||||||||
Latin America | 770,986 | 767,869 | |||||||||||||
Total | $ | 11,773,664 | $ | 12,831,443 | |||||||||||
Long-lived assets | |||||||||||||||
North America | $ | 551,807 | $ | 561,809 | |||||||||||
Europe | 142,056 | 105,913 | |||||||||||||
Asia-Pacific | 73,570 | 76,177 | |||||||||||||
Latin America | 12,018 | 7,220 | |||||||||||||
Total | $ | 779,451 | $ | 751,119 | |||||||||||
Net sales and long-lived assets for the United States, which is our country of domicile, are as follows: | |||||||||||||||
Thirteen Weeks Ended | |||||||||||||||
4-Apr-15 | 29-Mar-14 | ||||||||||||||
Net sales: | |||||||||||||||
United States | $ | 4,112,128 | 39 | % | $ | 3,735,851 | 36 | % | |||||||
Outside of the United States | 6,532,298 | 61 | % | 6,648,138 | 64 | % | |||||||||
Total | $ | 10,644,426 | 100 | % | $ | 10,383,989 | 100 | % | |||||||
As of | |||||||||||||||
4-Apr-15 | 3-Jan-15 | ||||||||||||||
Long-lived assets: | |||||||||||||||
United States | $ | 530,663 | $ | 493,475 | |||||||||||
Outside of the United States | 248,788 | 257,644 | |||||||||||||
Total | $ | 779,451 | $ | 751,119 | |||||||||||
Organization_and_Basis_of_Pres2
Organization and Basis of Presentation - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 | Jan. 03, 2015 |
Accounting Policies [Abstract] | |||
Book overdrafts | $263,486 | $400,323 | |
Trade accounts receivable sold to and held by financial institutions under uncommitted factoring programs | 220,057 | 276,808 | |
Factoring fees | $1,320 | $956 |
Share_Repurchase_Program_Addit
Share Repurchase Program - Additional Information (Detail) (USD $) | Apr. 04, 2015 |
Equity [Abstract] | |
Shares authorized for repurchase program, amount | $400,000,000 |
Remaining amount for repurchase under the share repurchase program | $124,095,000 |
Share_Repurchase_Program_Stock
Share Repurchase Program - Stock Repurchase and Issuance Activity (Detail) (USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Apr. 04, 2015 |
Shares | |
Cumulative balance, Shares, Beginning Balance | 37,349 |
Issuance of Class A Common Stock, Shares | 0 |
Cumulative balance, Shares, Ending Balance | 37,349 |
Weighted Average Price Per Share | |
Cumulative balance, Weighted Average Price Per Share, Beginning Balance (in dollars per share) | $17.04 |
Issuance of Class A Common Stock, Weighted Average Price Per Share (in dollars per share) | $16.77 |
Cumulative balance, Weighted Average Price Per Share, Ending Balance (in dollars per share) | $17.04 |
Amount | |
Cumulative balance, Amount, Beginning Balance | $636,493 |
Issuance of Class A Common Stock, Amount | -111 |
Cumulative balance, Amount, Ending Balance | $636,382 |
Earnings_Per_Share_Computation
Earnings Per Share - Computation of Basic EPS and Diluted EPS (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
Earnings Per Share [Abstract] | ||
Net income | $43,275 | $24,833 |
Weighted average shares | 156,244 | 154,771 |
Basic EPS (in dollars per share) | $0.28 | $0.16 |
Weighted average shares, including the dilutive effect of stock-based awards (3,959 and 4,229 for the thirteen weeks ended April 4, 2015 and March 29, 2014, respectively) | 160,203 | 159,000 |
Diluted EPS (in dollars per share) | $0.27 | $0.16 |
Earnings_Per_Share_Computation1
Earnings Per Share - Computation of Basic EPS and Diluted EPS (Additional Information) (Detail) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
Earnings Per Share [Abstract] | ||
Weighted average shares, including the dilutive effect of stock-based awards | 3,959 | 4,229 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
Earnings Per Share [Abstract] | ||
Stock-based awards excluded from the computation of Diluted Earnings Per Share | 2,083 | 1,466 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 | ||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Stock options granted (in shares) | 0 | [1] | 61 | [1] |
Restricted stock and restricted stock units granted (in shares) | 18 | [1] | 87 | [1] |
Stock-based compensation expense | $6,514 | $7,886 | ||
Related income tax benefit | $2,181 | $2,706 | ||
Exercised stock options (in shares) | 38 | 546 | ||
Vested restricted stock and/or restricted stock units (in shares) | 15 | [2] | 427 | [2] |
Approximate number of shares available for grant under the 2011 Incentive Plan | 13,277 | |||
Restricted stock issued based on performance-based grants | 0 | 247 | ||
[1] | As of April 4, 2015, approximately 13,277 shares were available for grant under the 2011 Incentive Plan, taking into account granted options, time-vested restricted stock units/awards and performance-vested restricted stock units assuming maximum achievement. | |||
[2] | Includes 0 and 247 shares, for thirteen weeks ended April 4, 2015 and March 29, 2014, respectively, which were issued based on performance-based grants previously approved by the Human Resources Committee of the Board of Directors. The remainder of the shares are time-based grants. |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Notional Amounts and Fair Values of Derivative Instruments (Detail) (Not Designated as Hedging Instrument, USD $) | Apr. 04, 2015 | Jan. 03, 2015 | ||
In Thousands, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ||||
Total derivative, notional amount | $2,265,044 | [1] | $2,313,978 | [1] |
Derivatives not receiving hedge accounting treatment, Fair Value | 31,412 | 29,420 | ||
Other current assets | Foreign exchange contracts | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative asset, notional amount | 1,630,482 | [1] | 1,863,626 | [1] |
Derivatives not receiving hedge accounting treatment, Fair Value | 39,420 | 31,213 | ||
Accrued expenses | Foreign exchange contracts | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liability, notional amount | 634,562 | [1] | 450,352 | [1] |
Derivatives not receiving hedge accounting treatment, Fair Value | ($8,008) | ($1,793) | ||
[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 $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Net gain (loss) recognized in earnings | $103,723 | ($14,667) |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Detail) (Fair value, measurements, recurring, USD $) | Apr. 04, 2015 | Jan. 03, 2015 | ||
In Thousands, unless otherwise specified | ||||
Assets: | ||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | $266 | $90 | ||
Marketable trading securities | 52,857 | [1] | 56,616 | [1] |
Derivative assets | 39,420 | 31,213 | ||
Total assets at fair value | 92,543 | 87,919 | ||
Liabilities: | ||||
Derivative liabilities | 8,008 | 1,793 | ||
Contingent consideration | 7,096 | 7,647 | ||
Total liabilities at fair value | 15,104 | 9,440 | ||
Level 1 | ||||
Assets: | ||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | 266 | 90 | ||
Marketable trading securities | 52,857 | [1] | 56,616 | [1] |
Derivative assets | 0 | 0 | ||
Total assets at fair value | 53,123 | 56,706 | ||
Liabilities: | ||||
Derivative liabilities | 0 | 0 | ||
Contingent consideration | 0 | 0 | ||
Total liabilities at fair value | 0 | 0 | ||
Level 2 | ||||
Assets: | ||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | 0 | 0 | ||
Marketable trading securities | 0 | [1] | 0 | [1] |
Derivative assets | 39,420 | 31,213 | ||
Total assets at fair value | 39,420 | 31,213 | ||
Liabilities: | ||||
Derivative liabilities | 8,008 | 1,793 | ||
Contingent consideration | 0 | 0 | ||
Total liabilities at fair value | 8,008 | 1,793 | ||
Level 3 | ||||
Assets: | ||||
Cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit | 0 | 0 | ||
Marketable trading securities | 0 | [1] | 0 | [1] |
Derivative assets | 0 | 0 | ||
Total assets at fair value | 0 | 0 | ||
Liabilities: | ||||
Derivative liabilities | 0 | 0 | ||
Contingent consideration | 7,096 | 7,647 | ||
Total liabilities at fair value | $7,096 | $7,647 | ||
[1] | Included in other current assets in our consolidated balance sheet. |
Fair_Value_Measurements_Debt_I
Fair Value Measurements - Debt Information (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Jan. 03, 2015 |
Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 1,162,892 | $1,138,404 |
Fair value, measurements, recurring | Carrying Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 1,096,978 | 1,096,889 |
Fair value, measurements, recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 1,162,892 | 1,138,404 |
Senior unsecured notes, 5.25% due 2017 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, interest rate | 5.25% | 5.25% |
Senior unsecured notes, 5.25% due 2017 | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, maturity date | 2017 | |
Senior unsecured notes, 5.25% due 2017 | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 323,291 | 323,527 |
Senior unsecured notes, 5.25% due 2017 | Fair value, measurements, recurring | Carrying Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 300,000 | 300,000 |
Senior unsecured notes, 5.25% due 2017 | Fair value, measurements, recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 323,291 | 323,527 |
Senior unsecured notes, 5.00% due 2022 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, interest rate | 5.00% | 5.00% |
Senior unsecured notes, 5.00% due 2022 | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, maturity date | 2022 | |
Senior unsecured notes, 5.00% due 2022 | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 319,328 | 314,954 |
Senior unsecured notes, 5.00% due 2022 | Fair value, measurements, recurring | Carrying Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 298,679 | 298,634 |
Senior unsecured notes, 5.00% due 2022 | Fair value, measurements, recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 319,328 | 314,954 |
Senior unsecured notes, 4.95% due 2024 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, interest rate | 4.95% | 4.95% |
Senior unsecured notes, 4.95% due 2024 | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, maturity date | 2024 | |
Senior unsecured notes, 4.95% due 2024 | Fair value, measurements, recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 520,273 | 499,923 |
Senior unsecured notes, 4.95% due 2024 | Fair value, measurements, recurring | Carrying Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 498,299 | 498,255 |
Senior unsecured notes, 4.95% due 2024 | Fair value, measurements, recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt instrument, fair value disclosure | 520,273 | $499,923 |
Acquisitions_Goodwill_and_Inta2
Acquisitions, Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Feb. 27, 2015 | Mar. 16, 2015 | Jan. 03, 2015 |
Acquisitions [Line Items] | ||||
Payments to Acquire Businesses, Net of Cash Acquired | $88,561 | |||
Goodwill | 553,802 | 532,483 | ||
Maximum amortization period for finite-lived identifiable intangible assets | 10 years | |||
Anovo Expansion SAS | ||||
Acquisitions [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 97.50% | |||
Payments to Acquire Businesses, Net of Cash Acquired | 68,123 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | 32,486 | |||
Identifiable intangible assets | 41,200 | |||
Goodwill | 33,359 | |||
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | 1,391 | |||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 2.50% | |||
Distribution Business Operations in Chile and Peru | ||||
Acquisitions [Line Items] | ||||
Payments to Acquire Businesses, Net of Cash Acquired | 12,588 | |||
Business Combination, Consideration Transferred, Liabilities Incurred | 43,658 | |||
Armada | ||||
Acquisitions [Line Items] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 19.00% | |||
Business Combination, Consideration Transferred | 7,850 | |||
Equity Method Investment, Ownership Percentage | 77.00% | |||
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value | $10,114 | |||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 23.00% | |||
Maximum | ||||
Acquisitions [Line Items] | ||||
Maximum amortization period for finite-lived identifiable intangible assets | 13 years | |||
Minimum | ||||
Acquisitions [Line Items] | ||||
Maximum amortization period for finite-lived identifiable intangible assets | 3 years |
Acquisitions_Goodwill_and_Inta3
Acquisitions, Goodwill and Intangible Assets - Schedule of Gross Carrying Amounts (Detail) (USD $) | Apr. 04, 2015 | Jan. 03, 2015 |
In Thousands, unless otherwise specified | ||
Business Combinations [Abstract] | ||
Gross carrying amount of finite-lived intangible assets | $521,282 | $488,753 |
Net carrying amount of finite-lived intangible assets | $340,161 | $318,689 |
Reorganization_Costs_Summary_o
Reorganization Costs - Summary of the Reorganization and Expense-Reduction Program Costs (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 |
employee | employee | |
Restructuring Cost and Reserve [Line Items] | ||
Headcount Reduction | 71 | 746 |
Employee Termination Benefits | $3,287 | $38,575 |
Facility and Other Costs | 753 | 0 |
Total Reorganization Costs | 4,040 | 38,575 |
Adjustments to Prior Year Costs | 0 | -151 |
Total Reorganization Costs | 4,040 | 38,424 |
North America | ||
Restructuring Cost and Reserve [Line Items] | ||
Employee Termination Benefits | 789 | 6,432 |
Facility and Other Costs | 33 | 0 |
Total Reorganization Costs | 822 | 6,432 |
Adjustments to Prior Year Costs | 0 | 0 |
Total Reorganization Costs | 822 | 6,432 |
Europe | ||
Restructuring Cost and Reserve [Line Items] | ||
Employee Termination Benefits | 1,958 | 30,320 |
Facility and Other Costs | 221 | 0 |
Total Reorganization Costs | 2,179 | 30,320 |
Adjustments to Prior Year Costs | 0 | -36 |
Total Reorganization Costs | 2,179 | 30,284 |
Asia-Pacific | ||
Restructuring Cost and Reserve [Line Items] | ||
Employee Termination Benefits | 511 | 1,354 |
Facility and Other Costs | 0 | |
Total Reorganization Costs | 511 | 1,354 |
Adjustments to Prior Year Costs | 0 | -115 |
Total Reorganization Costs | 511 | 1,239 |
Latin America | ||
Restructuring Cost and Reserve [Line Items] | ||
Employee Termination Benefits | 29 | 469 |
Facility and Other Costs | 499 | 0 |
Total Reorganization Costs | 528 | 469 |
Adjustments to Prior Year Costs | 0 | 0 |
Total Reorganization Costs | 528 | 469 |
2015 and 2014 Reorganization actions | ||
Restructuring Cost and Reserve [Line Items] | ||
Total Reorganization Costs | $4,040 |
Reorganization_Costs_Restructu
Reorganization Costs - Restructuring Reserve (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 | |
Restructuring Reserve [Roll Forward] | |||
Remaining Liability at January 3, 2015 | $26,910 | ||
Expenses (Income), Net | 4,040 | 38,424 | |
Amounts Paid and Charged Against the Liability | -12,014 | ||
Foreign Currency Translation | -2,168 | ||
Remaining Liability at April 4, 2015 | 16,768 | ||
2015 and 2014 Reorganization actions | |||
Restructuring Reserve [Roll Forward] | |||
Remaining Liability at January 3, 2015 | 24,296 | ||
Expenses (Income), Net | 4,040 | ||
Amounts Paid and Charged Against the Liability | -11,700 | ||
Foreign Currency Translation | -2,053 | ||
Remaining Liability at April 4, 2015 | 14,583 | [1] | |
2015 and 2014 Reorganization actions | Employee termination benefits | |||
Restructuring Reserve [Roll Forward] | |||
Remaining Liability at January 3, 2015 | 24,296 | ||
Expenses (Income), Net | 3,287 | ||
Amounts Paid and Charged Against the Liability | -11,667 | ||
Foreign Currency Translation | -2,053 | ||
Remaining Liability at April 4, 2015 | 13,863 | ||
2015 and 2014 Reorganization actions | Facility Costs | |||
Restructuring Reserve [Roll Forward] | |||
Remaining Liability at January 3, 2015 | 0 | ||
Expenses (Income), Net | 753 | ||
Amounts Paid and Charged Against the Liability | -33 | ||
Foreign Currency Translation | 0 | ||
Remaining Liability at April 4, 2015 | 720 | ||
2013 and prior reorganization actions | |||
Restructuring Reserve [Roll Forward] | |||
Remaining Liability at January 3, 2015 | 2,614 | ||
Expenses (Income), Net | 0 | ||
Amounts Paid and Charged Against the Liability | -314 | ||
Foreign Currency Translation | -115 | ||
Remaining Liability at April 4, 2015 | 2,185 | [2] | |
2013 and prior reorganization actions | Employee termination benefits | |||
Restructuring Reserve [Roll Forward] | |||
Remaining Liability at January 3, 2015 | 118 | ||
Expenses (Income), Net | 0 | ||
Amounts Paid and Charged Against the Liability | -84 | ||
Foreign Currency Translation | -9 | ||
Remaining Liability at April 4, 2015 | 25 | ||
2013 and prior reorganization actions | Facility Costs | |||
Restructuring Reserve [Roll Forward] | |||
Remaining Liability at January 3, 2015 | 2,496 | ||
Expenses (Income), Net | 0 | ||
Amounts Paid and Charged Against the Liability | -230 | ||
Foreign Currency Translation | -106 | ||
Remaining Liability at April 4, 2015 | $2,160 | ||
[1] | We expect the remaining liabilities to be substantially utilized by the end of 2015. | ||
[2] | We expect the remaining liabilities to be substantially utilized by the end of 2016. |
Debt_Carrying_Value_of_Outstan
Debt - Carrying Value of Outstanding Debt (Detail) (USD $) | Apr. 04, 2015 | Jan. 03, 2015 |
In Thousands, unless otherwise specified | ||
Standby Letters of Credit [Line Items] | ||
Total debt, current and non-current | $1,415,567 | $1,468,915 |
Short-term debt and current maturities of long-term debt | -158,589 | -372,026 |
Long-term debt, less current maturities | 1,256,978 | 1,096,889 |
Senior unsecured notes, 4.95% due 2024 | ||
Standby Letters of Credit [Line Items] | ||
Total debt, current and non-current | 498,299 | 498,255 |
Senior unsecured notes, 5.00% due 2022 | ||
Standby Letters of Credit [Line Items] | ||
Total debt, current and non-current | 298,679 | 298,634 |
Senior unsecured notes, 5.25% due 2017 | ||
Standby Letters of Credit [Line Items] | ||
Total debt, current and non-current | 300,000 | 300,000 |
North America revolving trade accounts receivable-backed financing program | ||
Standby Letters of Credit [Line Items] | ||
Total debt, current and non-current | 160,000 | 185,000 |
Lines of credit and other debt | ||
Standby Letters of Credit [Line Items] | ||
Total debt, current and non-current | $158,589 | $187,026 |
Debt_Carrying_Value_of_Outstan1
Debt - Carrying Value of Outstanding Debt (Additional Information) (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Apr. 04, 2015 | Jan. 03, 2015 |
Senior unsecured notes, 5.25% due 2017 | ||
Standby Letters of Credit [Line Items] | ||
Debt, interest rate | 5.25% | 5.25% |
Debt Instrument, Maturity Date | 1-Sep-17 | 1-Sep-17 |
Senior unsecured notes, 5.00% due 2022 | ||
Standby Letters of Credit [Line Items] | ||
Debt, interest rate | 5.00% | 5.00% |
Debt Instrument, Maturity Date | 10-Aug-22 | 10-Aug-22 |
Debt Instrument, Unamortized Discount | 1,321 | 1,366 |
Senior unsecured notes, 4.95% due 2024 | ||
Standby Letters of Credit [Line Items] | ||
Debt, interest rate | 4.95% | 4.95% |
Debt Instrument, Maturity Date | 15-Dec-24 | 15-Dec-24 |
Debt Instrument, Unamortized Discount | 1,701 | 1,745 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 | Jan. 03, 2015 |
Income Tax Disclosure [Abstract] | |||
Effective tax rate | 33.40% | 43.40% | |
Net discrete tax benefit | $609 | $1,991 | |
Net discrete tax benefit percentage points of effective tax rate | 0.90% | 4.50% | |
U.S. federal statutory rate | 35.00% | 35.00% | |
Gross unrecognized tax benefits | 28,714 | 30,372 | |
Net increase (decrease) in gross unrecognized tax benefits | 1,658 | ||
Interest and penalties on unrecognized tax benefits | $7,004 | $7,625 |
Segment_Information_Financial_
Segment Information - Financial Information by Reporting Segments (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 | Jan. 03, 2015 |
Segment Reporting Information [Line Items] | |||
Net sales | $10,644,426 | $10,383,989 | |
Income from operations | 97,715 | 68,360 | |
Stock-based compensation expense | -6,514 | -7,886 | |
Capital expenditures | 21,767 | 22,320 | |
Depreciation | 21,390 | 20,067 | |
Amortization of intangible assets | 15,931 | 14,152 | |
Identifiable assets | 11,773,664 | 12,831,443 | |
Long-lived assets | 779,451 | 751,119 | |
North America | |||
Segment Reporting Information [Line Items] | |||
Net sales | 4,441,607 | 4,142,097 | |
Income from operations | 54,300 | 61,714 | |
Capital expenditures | 16,186 | 18,674 | |
Depreciation | 15,490 | 13,638 | |
Amortization of intangible assets | 10,472 | 9,712 | |
Identifiable assets | 5,445,884 | 5,899,901 | |
Long-lived assets | 551,807 | 561,809 | |
Europe | |||
Segment Reporting Information [Line Items] | |||
Net sales | 3,074,297 | 3,459,288 | |
Income from operations | 6,920 | -11,206 | |
Capital expenditures | 2,686 | 2,021 | |
Depreciation | 2,759 | 3,659 | |
Amortization of intangible assets | 3,299 | 2,829 | |
Identifiable assets | 3,186,980 | 3,599,400 | |
Long-lived assets | 142,056 | 105,913 | |
Asia-Pacific | |||
Segment Reporting Information [Line Items] | |||
Net sales | 2,544,210 | 2,289,139 | |
Income from operations | 31,627 | 16,748 | |
Capital expenditures | 2,339 | 1,349 | |
Depreciation | 2,716 | 2,414 | |
Amortization of intangible assets | 1,958 | 1,405 | |
Identifiable assets | 2,369,814 | 2,564,273 | |
Long-lived assets | 73,570 | 76,177 | |
Latin America | |||
Segment Reporting Information [Line Items] | |||
Net sales | 584,312 | 493,465 | |
Income from operations | 11,382 | 8,990 | |
Capital expenditures | 556 | 276 | |
Depreciation | 425 | 356 | |
Amortization of intangible assets | 202 | 206 | |
Identifiable assets | 770,986 | 767,869 | |
Long-lived assets | $12,018 | $7,220 |
Segment_Information_Integratio
Segment Information - Integration, Transition and Other Costs (Detail) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 | ||
Segment Reporting Information [Line Items] | ||||
Integration, transition and other costs | $7,489 | [1] | $1,987 | [1] |
Litigation settlement, amount | 6,600 | |||
North America | ||||
Segment Reporting Information [Line Items] | ||||
Integration, transition and other costs | 4,834 | [1] | 101 | [1] |
Europe | ||||
Segment Reporting Information [Line Items] | ||||
Integration, transition and other costs | 1,286 | [1] | 509 | [1] |
Asia-Pacific | ||||
Segment Reporting Information [Line Items] | ||||
Integration, transition and other costs | 1,369 | [1] | 1,377 | [1] |
Latin America | ||||
Segment Reporting Information [Line Items] | ||||
Integration, transition and other costs | $0 | [1] | $0 | [1] |
[1] | Also included is a gain of $6,600 related to the final settlement of a class action lawsuit against the manufacturers of LCD flat panel displays, which was recorded as a reduction of SG&A expense in North America in the first quarter of 2014 |
Segment_Information_Schedule_o
Segment Information - Schedule of Revenue and Long-lived Assets by Geographic Location (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Mar. 29, 2014 | Jan. 03, 2015 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | $10,644,426 | $10,383,989 | |
Net sales, percentage | 100.00% | 100.00% | |
Long-lived assets | 779,451 | 751,119 | |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 4,112,128 | 3,735,851 | |
Net sales, percentage | 39.00% | 36.00% | |
Long-lived assets | 530,663 | 493,475 | |
Outside of the United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 6,532,298 | 6,648,138 | |
Net sales, percentage | 61.00% | 64.00% | |
Long-lived assets | $248,788 | $257,644 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) | 3 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 | Apr. 04, 2015 |
USD ($) | BRL | 2005 Federal import tax assessment | 2005 Federal import tax assessment | 2007 Sao Paulo Municipal tax assessment | 2007 Sao Paulo Municipal tax assessment | 2011 Federal income tax assessment | 2011 Federal income tax assessment | 2012 Sao Paulo Municipal tax assessment | 2012 Sao Paulo Municipal tax assessment | 2013 Sao Paulo Municipal tax assessment | 2013 Sao Paulo Municipal tax assessment | |
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 | $4,037 | 12,714 | ||||||||||
Amount of service taxes due on the resale of software | 9,244 | 29,111 | ||||||||||
Amount of penalties on service taxes | 8,247 | 25,972 | 476 | 1,498 | 1,703 | 5,362 | ||||||
Amount of statutory penalties for delays in providing certain electronic files | 5,049 | 15,900 | ||||||||||
Amount of service taxes due on the importation of software | 951 | 2,996 | 3,406 | 10,725 | ||||||||
Amount of penalties and interest likely to be assessed | 79,600 | 250,678 | ||||||||||
Maximum amount of reimbursement to third party | $9,464 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Details) (USD $) | Apr. 04, 2015 | Jan. 03, 2015 | Apr. 15, 2015 |
Subsequent Event [Line Items] | |||
Debt Current And Non Current | $1,415,567,000 | $1,468,915,000 | |
North America revolving trade accounts receivable-backed financing program | |||
Subsequent Event [Line Items] | |||
Borrowing capacity | 675,000 | ||
Debt Current And Non Current | 160,000,000 | 185,000,000 | |
North America revolving trade accounts receivable-backed financing program | Subsequent Event | |||
Subsequent Event [Line Items] | |||
Increase in borrowing capacity | $250,000 |