Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Oct. 03, 2014 | Oct. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 3-Oct-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'ISIL | ' |
Entity Registrant Name | 'INTERSIL CORP/DE | ' |
Entity Central Index Key | '0001096325 | ' |
Current Fiscal Year End Date | '--01-02 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 130,083,321 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 |
Condensed Consolidated Statements Of Operations [Abstract] | ' | ' | ' | ' |
Revenue | $143,612 | $152,644 | $431,429 | $429,202 |
Cost of revenue | 59,763 | 68,008 | 182,867 | 193,740 |
Gross margin | 83,849 | 84,636 | 248,562 | 235,462 |
Operating costs and expenses: | ' | ' | ' | ' |
Research and development | 31,194 | 31,311 | 95,484 | 103,059 |
Selling, general and administrative | 25,243 | 27,083 | 75,086 | 86,418 |
Amortization of purchased intangibles | 5,561 | 6,080 | 16,682 | 19,018 |
Provision for export compliance settlement | ' | 6,000 | 4,000 | 6,000 |
Restructuring and related costs | ' | 9,067 | ' | 28,694 |
Operating income (loss) | 21,851 | 5,095 | 57,310 | -7,727 |
Interest expense, fees and other expenses | -554 | -429 | -1,426 | -1,506 |
(Loss) gain on investments, net | -148 | 893 | 711 | 1,848 |
Income (loss) before income taxes | 21,149 | 5,559 | 56,595 | -7,385 |
Income tax expense (benefit) | 7,262 | 13,737 | 19,056 | -2,731 |
Net income (loss) | $13,887 | ($8,178) | $37,539 | ($4,654) |
Earnings (loss) per share: | ' | ' | ' | ' |
Basic | $0.11 | ($0.06) | $0.29 | ($0.04) |
Diluted | $0.10 | ($0.06) | $0.29 | ($0.04) |
Cash dividends declared per common share | $0.12 | $0.12 | $0.36 | $0.36 |
Weighted average common shares outstanding | ' | ' | ' | ' |
Basic | 129,620 | 127,339 | 128,820 | 126,972 |
Diluted | 132,626 | 127,339 | 131,599 | 126,972 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 |
Condensed Consolidated Statements Of Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Net income (loss) | $13,887 | ($8,178) | $37,539 | ($4,654) |
Currency translation adjustments | -1,120 | 649 | -1,019 | -390 |
Comprehensive income (loss) | $12,767 | ($7,529) | $36,520 | ($5,044) |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Oct. 03, 2014 | Jan. 03, 2014 |
In Thousands, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $210,582 | $194,787 |
Trade receivables, net of allowances ($15,360 as of October 3, 2014 and $14,274 as of January 3, 2014) | 58,680 | 49,466 |
Inventories | 67,651 | 62,408 |
Prepaid expenses and other current assets | 11,395 | 10,843 |
Deferred income taxes assets | 14,337 | 22,328 |
Total Current Assets | 362,645 | 339,832 |
Non-current Assets | ' | ' |
Property, plant & equipment, net of accumulated depreciation ($256,589 as of October 3, 2014 and $246,480 as of January 3, 2014) | 73,755 | 81,867 |
Purchased intangibles, net of accumulated amortization ($93,940 as of October 3, 2014 and $97,939 as of January 3, 2014) | 39,959 | 56,641 |
Goodwill | 565,424 | 565,424 |
Deferred income tax assets | 53,455 | 73,008 |
Other non-current assets | 71,720 | 74,624 |
Total Non-current Assets | 804,313 | 851,564 |
Total Assets | 1,166,958 | 1,191,396 |
Current Liabilities | ' | ' |
Trade payables | 26,809 | 26,248 |
Accrued compensation | 34,759 | 42,014 |
Deferred income | 10,821 | 11,936 |
Other accrued expenses and liabilities | 31,392 | 35,103 |
Income taxes payable | 6,105 | 14,588 |
Total Current Liabilities | 109,886 | 129,889 |
Non-current Liabilities | ' | ' |
Income taxes payable | 72,887 | 90,102 |
Other non-current liabilities | 8,991 | 13,603 |
Total Non-current Liabilities | 81,878 | 103,705 |
Shareholders' Equity: | ' | ' |
Preferred stock, $0.01 par value, 2 million shares authorized; no shares issued or outstanding | ' | ' |
Class A common stock, $0.01 par value, voting; 600 million shares authorized; 130,072,428 shares issued and outstanding as of October 3, 2014 and 127,714,810 shares issued and outstanding as of January 3, 2014 | 1,298 | 1,277 |
Additional paid-in capital | 1,601,586 | 1,620,732 |
Accumulated deficit | -629,398 | -666,935 |
Accumulated other comprehensive income | 1,708 | 2,728 |
Total Shareholders' Equity | 975,194 | 957,802 |
Total Liabilities and Shareholders' Equity | $1,166,958 | $1,191,396 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Oct. 03, 2014 | Jan. 03, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Condensed Consolidated Balance Sheets [Abstract] | ' | ' |
Trade receivables, allowances | $15,360 | $14,274 |
Property, plant and equipment, accumulated depreciation | 256,589 | 246,480 |
Purchased intangibles, accumulated amortization | $93,940 | $97,939 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Class A common stock, par value | $0.01 | $0.01 |
Class A common stock, shares authorized | 600,000,000 | 600,000,000 |
Class A common stock, shares issued | 130,072,428 | 127,714,810 |
Class A common stock, shares outstanding | 130,072,428 | 127,714,810 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Oct. 03, 2014 | Oct. 04, 2013 |
Operating Activities | ' | ' |
Net income (loss) | $37,539 | ($4,654) |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ' | ' |
Depreciation and amortization | 31,175 | 33,085 |
Equity-based compensation | 13,679 | 15,223 |
Tax effect and excess tax benefit of equity-based awards | -447 | -350 |
Loss on disposal of property, plant and equipment | 73 | 102 |
Non-cash portion of restructuring charges | ' | 7,319 |
Gain on long-term investments | -461 | -866 |
Deferred income taxes | 27,545 | 12,000 |
Changes in operating assets and liabilities: | ' | ' |
Trade receivables | -9,214 | -2,957 |
Inventories | -5,243 | 8,506 |
Prepaid expenses and other current assets | -180 | -335 |
Trade payables, accrued compensation, and other accrued expenses and liabilities | -11,480 | 17,250 |
Income taxes payable | -26,058 | -23,061 |
Other, net | -1,849 | -818 |
Net cash flows from operating activities | 55,079 | 60,444 |
Investing Activities | ' | ' |
Proceeds from short-term investments | ' | 4,750 |
Proceeds from recovery of long-term investments | 460 | 866 |
Purchase of property, plant and equipment | -6,000 | -15,772 |
Net cash flows used in investing activities | -5,540 | -10,156 |
Financing Activities | ' | ' |
Proceeds, net of taxes withheld, and excess tax benefit received from equity-based awards | 15,145 | 4,271 |
Dividends paid | -47,225 | -46,554 |
Net cash used in financing activities | -32,080 | -42,283 |
Effect of exchange rates on cash and cash equivalents | -1,664 | -15 |
Net change in cash and cash equivalents | 15,795 | 7,990 |
Cash and cash equivalents at the beginning of the period | 194,787 | 158,810 |
Cash and cash equivalents at the end of the period | $210,582 | $166,800 |
Basis_Of_Presentation
Basis Of Presentation | 9 Months Ended |
Oct. 03, 2014 | |
Basis of Presentation [Abstract] | ' |
Basis Of Presentation | ' |
Note 1—Basis of Presentation | |
Intersil Corporation (“Intersil,” which may also be referred to as “we,” “us” or “our”) is a leading provider of innovative power management and precision analog solutions. Our products address some of the largest markets within the industrial and infrastructure, personal computing and high-end consumer markets. | |
In our opinion, these interim unaudited condensed consolidated financial statements include all adjustments necessary to present fairly, in all material respects, the financial position, results of operations and cash flows for all periods presented. We prepared these unaudited condensed consolidated financial statements in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X, using management estimates where necessary. We derived the January 3, 2014 condensed consolidated balance sheet from our audited consolidated year-end financial statements. You should read this interim report in conjunction with our Annual Report on Form 10-K for the fiscal year ended January 3, 2014. | |
We utilize a 52/53 week fiscal year, ending on the nearest Friday to December 31. Fiscal year 2013 was a 53 week period with an extra week included in our second quarter. The next 53 week period will be in the second quarter of our fiscal year 2018. Quarterly or annual periods vary from exact calendar quarters or years. | |
Certain prior year amounts have been reclassified to conform to current year presentation. | |
Recent Accounting Guidance Not Yet Adopted | |
On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for Intersil on December 31, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting. | |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||
Oct. 03, 2014 | |||||||
Fair Value Measurements [Abstract] | ' | ||||||
Fair Value Measurements | ' | ||||||
Note 2 — Fair Value Measurements | |||||||
For deferred compensation investments and bank time deposits, we rely upon the valuations as provided by the third party custodian of these assets or liabilities. | |||||||
We determine the fair value of our assets and liabilities utilizing three levels of inputs, focusing on the most observable level of inputs when available. Level 1 inputs use quoted prices in active markets which are unadjusted and accessible as of the measurement date for identical, unrestricted assets or liabilities. Level 2 uses quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3 uses prices or valuations that require inputs that are unobservable and significant to the overall fair value measurement. | |||||||
We determine fair value on the following assets using these input levels (in thousands): | |||||||
Fair value as of October 3, 2014 using: | |||||||
Total | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | |||||
Assets | |||||||
Other non-current assets: | |||||||
Deferred compensation investments | $ 10,807 | $ 360 | $ 10,447 | ||||
Total assets measured at fair value | $ 10,807 | $ 360 | $ 10,447 | ||||
Fair value as of January 3, 2014 using: | |||||||
Total | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | |||||
Assets | |||||||
Other non-current assets: | |||||||
Deferred compensation investments | $ 11,579 | $ 491 | $ 11,088 | ||||
Total assets measured at fair value | $ 11,579 | $ 491 | $ 11,088 | ||||
There were no transfers into or out of Level 1 or Level 2 financial assets during the quarters ended October 3, 2014 and October 4, 2013. | |||||||
Inventories
Inventories | 9 Months Ended | ||||
Oct. 03, 2014 | |||||
Inventories [Abstract] | ' | ||||
Inventories | ' | ||||
Note 3 — Inventories | |||||
Inventories are summarized below (in thousands): | |||||
As of | As of | ||||
3-Oct-14 | 3-Jan-14 | ||||
Finished products | $ 18,386 | $ 20,783 | |||
Work in process | 45,522 | 38,759 | |||
Raw materials | 3,743 | 2,866 | |||
Total inventories | $ 67,651 | $ 62,408 | |||
Goodwill_And_Purchased_Intangi
Goodwill And Purchased Intangibles | 9 Months Ended | ||||||
Oct. 03, 2014 | |||||||
Goodwill And Purchased Intangibles [Abstract] | ' | ||||||
Goodwill And Purchased Intangibles | ' | ||||||
Note 4 — Goodwill and Purchased Intangibles | |||||||
Goodwill — We perform our annual test of impairment in our fourth quarter or if indicators of impairment exist, in interim periods. Factors that could trigger a goodwill impairment review include adverse legal factors, adverse changes in our business climate, unanticipated competition, regulatory issues, loss of key personnel, significant changes or losses in business operations, weakness in our industry, downward revisions to forecasts for future periods, restructuring plans and declines in market capitalization below equity book value. There was no change in the carrying value of goodwill during the quarter ended October 3, 2014. | |||||||
Purchased Intangibles — Substantially all of our purchased intangibles consist of multiple elements of developed technology which have estimated useful lives of five years. Other purchased intangibles consist primarily of customer relationships and other identifiable assets, which have an estimated useful life of four to seven years (in thousands). | |||||||
As of October 3, 2014 | |||||||
Definite-lived: developed technologies | Definite-lived: other | Total purchased intangibles | |||||
Gross carrying amount | $ 89,700 | $ 44,200 | $ 133,900 | ||||
Accumulated amortization | 63,103 | 30,837 | 93,940 | ||||
Purchased intangibles, net | $ 26,597 | $ 13,363 | $ 39,960 | ||||
As of January 3, 2014 | |||||||
Definite-lived: developed technologies | Definite-lived: other | Total purchased intangibles | |||||
Gross carrying amount | $ 105,981 | $ 48,599 | $ 154,580 | ||||
Accumulated amortization | 68,730 | 29,209 | 97,939 | ||||
Purchased intangibles, net | $ 37,251 | $ 19,390 | $ 56,641 | ||||
Expected amortization expense by year to the end of the current amortization schedule is as follows (in thousands): | |||||||
To be recognized in: | |||||||
Fiscal year 2014, remaining | $ 5,561 | ||||||
Fiscal year 2015 | 16,717 | ||||||
Fiscal year 2016 | 9,010 | ||||||
Fiscal year 2017 | 6,757 | ||||||
Fiscal year 2018 | 1,915 | ||||||
Total expected amortization expense | $ 39,960 | ||||||
Restructuring_and_Related_Cost
Restructuring and Related Costs | 9 Months Ended | ||
Oct. 03, 2014 | |||
Restructuring and Related Costs [Abstract] | ' | ||
Restructuring and Related Costs | ' | ||
Note 5 — Restructuring and Related Costs | |||
Our restructuring plans have been described in prior period filings. During the quarter ended October 3, 2014 no new restructuring plans were initiated. | |||
The restructuring and related costs balance as of the period ended October 3, 2014 primarily relates to the July 2013 plan. The amounts below relating to the restructuring are included in other accrued expenses and liabilities on our unaudited condensed consolidated balance sheets (in thousands): | |||
Combined plans | |||
Balance as of January 3, 2014 | $ 6,063 | ||
Cash payments | |||
Severance payments | -4,850 | ||
Lease exit payments | -868 | ||
Other payments | -77 | ||
Balance as of October 3, 2014 | $ 268 | ||
Income_Taxes
Income Taxes | 9 Months Ended | ||
Oct. 03, 2014 | |||
Income Taxes [Abstract] | ' | ||
Income Taxes | ' | ||
Note 6 — Income Taxes | |||
During the quarter ended April 4, 2014, we adopted Accounting Standards Update (ASU) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11"). ASU 2013-11 clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. Adoption of this standard resulted in a $23.5 million decrease to our deferred tax assets and income tax payable during the quarter ended April 4, 2014. | |||
The table below summarizes activity in unrecognized tax benefits (“UTBs”) (in thousands): | |||
Beginning balance (includes $7,102 of interest and penalties as of January 3, 2014) | $ 99,343 | ||
Increases related to prior year tax positions | 1,007 | ||
Settlements with tax authorities | -8,271 | ||
Ending balance (includes $7,515 of interest and penalties as of October 3, 2014) | $ 92,079 | ||
The increases related to prior year tax positions were primarily due to accrued interest on the UTBs. | |||
During the quarter ended October 3, 2014, we reached final settlement with Swiss tax authorities in connection with an examination of years 2009-2012. We decreased our UTBs in the amount of $7.5 million. This reduction included a $2.7 million cash payment consisting of $2.4 million of additional tax and $0.3 million of interest and a $4.8 million decrease in deferred tax assets related to utilization of a net operating loss attribute. | |||
During the quarter ended October 3, 2014, we made cash payments of $0.3 million to various states related to the 2008 – 2009 IRS settlement. During the quarter ended July 4, 2014, we made cash payments of $0.5 million to various states related to the 2005-2007 IRS settlement. | |||
Within the next 12 months, we estimate that our UTB balance may be reduced by $0.1 million for interest related to the state tax impact of the settlement with the IRS for tax years 2005 – 2007 and $0.3 million for interest related to the state tax impact of the settlement with the IRS for tax years 2008 – 2009. | |||
Hypothetical Additional Paid in Capital (“APIC”) Pool—The hypothetical APIC pool represents the excess tax benefits related to equity-based compensation that are available to absorb future tax deficiencies. If the amount of tax deficiencies is greater than the available hypothetical APIC pool, we record the excess as income tax expense in our unaudited condensed consolidated statements of income. During the quarter and three quarters ended October 3, 2014, we recognized $0.3 million and $1.3 million, respectively, of income tax expense resulting from tax deficiencies related to equity-based compensation in our unaudited condensed consolidated statements of operations. During the quarter and three quarters ended October 4, 2013, we recognized $0.9 million and $3.0 million, respectively, of income tax expense resulting from tax deficiencies related to equity-based compensation in our unaudited condensed consolidated statements of operations. | |||
LongTerm_Debt
Long-Term Debt | 9 Months Ended |
Oct. 03, 2014 | |
Long Term Debt [Abstract] | ' |
Long-Term Debt | ' |
Note 7 — Long-Term Debt | |
We have a five-year, $325.0 million revolving credit facility (the “Facility”) that matures on September 1, 2016 and is payable in full upon maturity. Under the Facility, $25.0 million is available for the issuance of standby letters of credit, $10.0 million is available as swing line loans and $50.0 million is available for multicurrency borrowings. Amounts repaid under the Facility may be reborrowed. We did not have any outstanding borrowings against the Facility as of October 3, 2014 or October 4, 2013. | |
Standby Letters of Credit — We issue standby letters of credit during the ordinary course of business through major financial institutions as required for certain regulatory matters. We had outstanding letters of credit totaling $1.4 million as of October 3, 2014 and January 3, 2014. The standby letters of credit are secured by pledged deposits. | |
Common_Stock_And_Dividends
Common Stock And Dividends | 9 Months Ended | |
Oct. 03, 2014 | ||
Common Stock And Dividends [Abstract] | ' | |
Common Stock And Dividends | ' | |
Note 8 — Common Stock and Dividends | ||
Dividends —On July 28, 2014, our Board of Directors declared a dividend of $0.12 per share of common stock resulting in paid dividends of $15.6 million on August 29, 2014, to shareholders of record as of the close of business on August 19, 2014. On October 24, 2014, our Board of Directors declared a dividend of $0.12 per share of common stock to be paid on November 28, 2014, to shareholders of record as of the close of business on November 18, 2014. | ||
Class A Common Stock — Share activity for Class A common stock since January 3, 2014 (in thousands): | ||
Balance as of January 3, 2014 | 127,715 | |
Shares issued under stock plans, net of shares withheld for taxes | 2,357 | |
Balance as of October 3, 2014 | 130,072 | |
EquityBased_Compensation
Equity-Based Compensation | 9 Months Ended | |||||||||||
Oct. 03, 2014 | ||||||||||||
Equity-Based Compensation [Abstract] | ' | |||||||||||
Equity-Based Compensation | ' | |||||||||||
Note 9 — Equity-based Compensation | ||||||||||||
The following table represents the weighted-average fair value compensation cost per share of restricted and deferred stock awards (“Awards”) granted: | ||||||||||||
Quarter ended | ||||||||||||
3-Oct-14 | 4-Oct-13 | |||||||||||
Awards | $ 10.33 | $ 8.45 | ||||||||||
Equity-based Compensation Summary — The following table presents information about Options and Awards as of October 3, 2014 and activity for the three quarters ended: | ||||||||||||
Options | Awards | Aggregate information | ||||||||||
Shares | Weighted-average exercise price | Weighted-average remaining contract lives | Shares | Aggregate intrinsic value | Aggregate unrecognized compensation cost | |||||||
(in thousands) | (per share) | (in years) | (in thousands) | (in thousands) | (in thousands) | |||||||
Outstanding as of January 3, 2014 | 7,496 | $ 13.5 | 3.3 | 4,604 | ||||||||
Granted | - | - | - | 2,043 | ||||||||
Exercised (1) | -1,101 | 12.4 | 2.1 | -1,085 | ||||||||
Canceled | -903 | 19.4 | 0.7 | -279 | ||||||||
Outstanding as of October 3, 2014 | 5,492 | $ 12.7 | 3.0 | 5,283 | $ 84,227 | $ 29,497 | ||||||
As of October 3, 2014 | ||||||||||||
Exercisable/vested (1) | 4,773 | $ 12.9 | 2.8 | 67 | $ 9,909 | |||||||
Number vested and expected to ultimately vest | 5,395 | $ 12.7 | 3.0 | 3,986 | $ 65,946 | |||||||
(1) Awards exercised are those that have reached full vested status and have been delivered to the recipients as a taxable event due to elective deferral, available in the case of deferred stock units. Deferred stock units for which the deferral is elected timely are vested but still outstanding as Awards. Total un-issued shares related to deferred stock units as of October 3, 2014 were 66,670 shares as shown in the Awards column as Exercisable/vested. | ||||||||||||
Additional Disclosures | Three quarters ended | |||||||||||
3-Oct-14 | 4-Oct-13 | |||||||||||
(in thousands) | ||||||||||||
Shares issued under the employee stock purchase plan | 495 | 408 | ||||||||||
Aggregate intrinsic value of Options exercised | $ 2,249 | $ 148 | ||||||||||
Financial Statement Effects and Presentation — The following table shows total equity-based compensation expense for the periods indicated that are included in our unaudited condensed consolidated statements of operations (in thousands): | ||||||||||||
Quarter ended | Three quarters ended | |||||||||||
3-Oct-14 | 4-Oct-13 | 3-Oct-14 | 4-Oct-13 | |||||||||
By statement of income line item | ||||||||||||
Cost of revenue | $ 294 | $ 324 | $ 1,007 | $ 1,089 | ||||||||
Research and development | 1,967 | 1,691 | 5,968 | 6,135 | ||||||||
Selling, general and administrative | 2,124 | 2,272 | 6,704 | 7,999 | ||||||||
By stock type | ||||||||||||
Options | 294 | 1,078 | 890 | 4,102 | ||||||||
Awards | 3,829 | 2,965 | 12,038 | 10,353 | ||||||||
Employee stock purchase plan | 262 | 244 | 750 | 768 | ||||||||
As of October 3, 2014 | As of January 3, 2014 | |||||||||||
Equity-based compensation capitalized in inventory (in thousands): | $ - | $ 341 | ||||||||||
Market and Performance-based Grants — As of October 3, 2014, we had Options and Awards outstanding that include the usual service conditions as well as (1) market conditions related to total shareholder return and (2) performance conditions relating to revenue and operating income relative to peer companies. Under the terms of the agreements, participants may receive from 0 - 200% of the original grant. Equity-based compensation cost is measured at the grant date, based on the fair value of the number of shares ultimately expected to vest, and is recognized as an expense, on a straight line basis, over the requisite service period (shares in thousands): | ||||||||||||
As of | ||||||||||||
3-Oct-14 | ||||||||||||
Options | Awards | |||||||||||
Market and performance-based units outstanding | 368 | 1,343 | ||||||||||
Maximum shares that could be issued assuming the highest level of performance | 551 | 2,396 | ||||||||||
Market and performance-based shares expected to vest | 208 | 1,859 | ||||||||||
Amount to be recognized as compensation cost over the performance period (thousands): | $ 1,510 | $ 10,616 | ||||||||||
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||
Oct. 03, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share | ' | ||||||||
Note 10 —Earnings Per Share | |||||||||
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): | |||||||||
Quarter ended | Three quarters ended | ||||||||
3-Oct-14 | 4-Oct-13 | 3-Oct-14 | 4-Oct-13 | ||||||
Numerator: | |||||||||
Net income (loss) to common shareholders | $ 13,887 | $ (8,178) | $ 37,539 | $ (4,654) | |||||
Denominator: | |||||||||
Denominator for basic earnings (loss) per share—weighted average common shares | 129,620 | 127,339 | 128,820 | 126,972 | |||||
Effect of Options and Awards | 3,006 | - | 2,779 | - | |||||
Denominator for diluted earnings (loss) per share—adjusted weighted average common shares | 132,626 | 127,339 | 131,599 | 126,972 | |||||
Earnings (loss) per share: | |||||||||
Basic | $ 0.11 | $ (0.06) | $ 0.29 | $ (0.04) | |||||
Diluted | $ 0.10 | $ (0.06) | $ 0.29 | $ (0.04) | |||||
Anti-dilutive shares not included in the above calculations: | |||||||||
Awards | - | 4,673 | - | 4,673 | |||||
Options | 1,422 | 8,442 | 1,072 | 8,442 | |||||
Segment_Information
Segment Information | 9 Months Ended |
Oct. 03, 2014 | |
Segment Information [Abstract] | ' |
Segment Information | ' |
Note 11 — Segment Information | |
We report our results in one reportable segment. We design and develop innovative power management and precision analog integrated circuits (“ICs”). Our chief executive officer is our chief operating decision maker. | |
Legal_Matters_And_Indemnificat
Legal Matters And Indemnifications | 9 Months Ended |
Oct. 03, 2014 | |
Legal Matters And Indemnifications [Abstract] | ' |
Legal Matters And Indemnifications | ' |
Note 12 — Legal Matters and Indemnifications | |
Legal Matters — There were no material legal proceedings filed against Intersil during the quarter ended October 3, 2014, nor were there any material developments in the TAOS litigation except that the trial has been rescheduled for February 2015. | |
Please reference our 2013 Annual Report on Form 10-K filed with the SEC on February 18, 2014 for additional background details. | |
Indemnifications — We incur indemnification obligations for intellectual property infringement claims related to our products. We accrue for known indemnification issues and estimate unidentified issues based on historical activity. | |
Basis_Of_Presentation_Policy
Basis Of Presentation (Policy) | 9 Months Ended |
Oct. 03, 2014 | |
Basis of Presentation [Abstract] | ' |
Fiscal Period | ' |
We utilize a 52/53 week fiscal year, ending on the nearest Friday to December 31. Fiscal year 2013 was a 53 week period with an extra week included in our second quarter. The next 53 week period will be in the second quarter of our fiscal year 2018. Quarterly or annual periods vary from exact calendar quarters or years. | |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||
Oct. 03, 2014 | |||||||
Fair Value Measurements [Abstract] | ' | ||||||
Fair Value Of Financial Assets | ' | ||||||
Fair value as of October 3, 2014 using: | |||||||
Total | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | |||||
Assets | |||||||
Other non-current assets: | |||||||
Deferred compensation investments | $ 10,807 | $ 360 | $ 10,447 | ||||
Total assets measured at fair value | $ 10,807 | $ 360 | $ 10,447 | ||||
Fair value as of January 3, 2014 using: | |||||||
Total | Quoted prices in active markets for identical assets (Level 1) | Significant other observable inputs (Level 2) | |||||
Assets | |||||||
Other non-current assets: | |||||||
Deferred compensation investments | $ 11,579 | $ 491 | $ 11,088 | ||||
Total assets measured at fair value | $ 11,579 | $ 491 | $ 11,088 | ||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||
Oct. 03, 2014 | |||||
Inventories [Abstract] | ' | ||||
Schedule Of Inventories | ' | ||||
As of | As of | ||||
3-Oct-14 | 3-Jan-14 | ||||
Finished products | $ 18,386 | $ 20,783 | |||
Work in process | 45,522 | 38,759 | |||
Raw materials | 3,743 | 2,866 | |||
Total inventories | $ 67,651 | $ 62,408 | |||
Goodwill_And_Purchased_Intangi1
Goodwill And Purchased Intangibles (Tables) | 9 Months Ended | ||||||
Oct. 03, 2014 | |||||||
Goodwill And Purchased Intangibles [Abstract] | ' | ||||||
Purchased Intangibles | ' | ||||||
As of October 3, 2014 | |||||||
Definite-lived: developed technologies | Definite-lived: other | Total purchased intangibles | |||||
Gross carrying amount | $ 89,700 | $ 44,200 | $ 133,900 | ||||
Accumulated amortization | 63,103 | 30,837 | 93,940 | ||||
Purchased intangibles, net | $ 26,597 | $ 13,363 | $ 39,960 | ||||
As of January 3, 2014 | |||||||
Definite-lived: developed technologies | Definite-lived: other | Total purchased intangibles | |||||
Gross carrying amount | $ 105,981 | $ 48,599 | $ 154,580 | ||||
Accumulated amortization | 68,730 | 29,209 | 97,939 | ||||
Purchased intangibles, net | $ 37,251 | $ 19,390 | $ 56,641 | ||||
Expected Amortization Expense | ' | ||||||
To be recognized in: | |||||||
Fiscal year 2014, remaining | $ 5,561 | ||||||
Fiscal year 2015 | 16,717 | ||||||
Fiscal year 2016 | 9,010 | ||||||
Fiscal year 2017 | 6,757 | ||||||
Fiscal year 2018 | 1,915 | ||||||
Total expected amortization expense | $ 39,960 | ||||||
Restructuring_and_Related_Cost1
Restructuring and Related Costs (Tables) | 9 Months Ended | ||
Oct. 03, 2014 | |||
Restructuring and Related Costs [Abstract] | ' | ||
Summary Restructuring Related Costs | ' | ||
Combined plans | |||
Balance as of January 3, 2014 | $ 6,063 | ||
Cash payments | |||
Severance payments | -4,850 | ||
Lease exit payments | -868 | ||
Other payments | -77 | ||
Balance as of October 3, 2014 | $ 268 | ||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||
Oct. 03, 2014 | |||
Income Taxes [Abstract] | ' | ||
Summary Of Activity In Unrecognized Tax Benefits Resulting From Uncertain Tax Positions | ' | ||
Beginning balance (includes $7,102 of interest and penalties as of January 3, 2014) | $ 99,343 | ||
Increases related to prior year tax positions | 1,007 | ||
Settlements with tax authorities | -8,271 | ||
Ending balance (includes $7,515 of interest and penalties as of October 3, 2014) | $ 92,079 | ||
Common_Stock_And_Dividends_Tab
Common Stock And Dividends (Tables) | 9 Months Ended | |
Oct. 03, 2014 | ||
Common Stock And Dividends [Abstract] | ' | |
Share Activity For Class A Common Stock | ' | |
Balance as of January 3, 2014 | 127,715 | |
Shares issued under stock plans, net of shares withheld for taxes | 2,357 | |
Balance as of October 3, 2014 | 130,072 | |
EquityBased_Compensation_Table
Equity-Based Compensation (Tables) | 9 Months Ended | |||||||||||
Oct. 03, 2014 | ||||||||||||
Equity-Based Compensation [Abstract] | ' | |||||||||||
Summary Of Weighted-Average Fair Value Compensation Cost Per Share Of Awards Granted | ' | |||||||||||
Quarter ended | ||||||||||||
3-Oct-14 | 4-Oct-13 | |||||||||||
Awards | $ 10.33 | $ 8.45 | ||||||||||
Equity-Based Compensation Summary | ' | |||||||||||
Options | Awards | Aggregate information | ||||||||||
Shares | Weighted-average exercise price | Weighted-average remaining contract lives | Shares | Aggregate intrinsic value | Aggregate unrecognized compensation cost | |||||||
(in thousands) | (per share) | (in years) | (in thousands) | (in thousands) | (in thousands) | |||||||
Outstanding as of January 3, 2014 | 7,496 | $ 13.5 | 3.3 | 4,604 | ||||||||
Granted | - | - | - | 2,043 | ||||||||
Exercised (1) | -1,101 | 12.4 | 2.1 | -1,085 | ||||||||
Canceled | -903 | 19.4 | 0.7 | -279 | ||||||||
Outstanding as of October 3, 2014 | 5,492 | $ 12.7 | 3.0 | 5,283 | $ 84,227 | $ 29,497 | ||||||
As of October 3, 2014 | ||||||||||||
Exercisable/vested (1) | 4,773 | $ 12.9 | 2.8 | 67 | $ 9,909 | |||||||
Number vested and expected to ultimately vest | 5,395 | $ 12.7 | 3.0 | 3,986 | $ 65,946 | |||||||
(1) Awards exercised are those that have reached full vested status and have been delivered to the recipients as a taxable event due to elective deferral, available in the case of deferred stock units. Deferred stock units for which the deferral is elected timely are vested but still outstanding as Awards. Total un-issued shares related to deferred stock units as of October 3, 2014 were 66,670 shares as shown in the Awards column as Exercisable/vested. | ||||||||||||
Equity-Based Compensation, Additional Disclosures | ' | |||||||||||
Additional Disclosures | Three quarters ended | |||||||||||
3-Oct-14 | 4-Oct-13 | |||||||||||
(in thousands) | ||||||||||||
Shares issued under the employee stock purchase plan | 495 | 408 | ||||||||||
Aggregate intrinsic value of Options exercised | $ 2,249 | $ 148 | ||||||||||
Equity-Based Compensation Expense | ' | |||||||||||
Quarter ended | Three quarters ended | |||||||||||
3-Oct-14 | 4-Oct-13 | 3-Oct-14 | 4-Oct-13 | |||||||||
By statement of income line item | ||||||||||||
Cost of revenue | $ 294 | $ 324 | $ 1,007 | $ 1,089 | ||||||||
Research and development | 1,967 | 1,691 | 5,968 | 6,135 | ||||||||
Selling, general and administrative | 2,124 | 2,272 | 6,704 | 7,999 | ||||||||
By stock type | ||||||||||||
Options | 294 | 1,078 | 890 | 4,102 | ||||||||
Awards | 3,829 | 2,965 | 12,038 | 10,353 | ||||||||
Employee stock purchase plan | 262 | 244 | 750 | 768 | ||||||||
As of October 3, 2014 | As of January 3, 2014 | |||||||||||
Equity-based compensation capitalized in inventory (in thousands): | $ - | $ 341 | ||||||||||
Performance-Based Grants | ' | |||||||||||
As of | ||||||||||||
3-Oct-14 | ||||||||||||
Options | Awards | |||||||||||
Market and performance-based units outstanding | 368 | 1,343 | ||||||||||
Maximum shares that could be issued assuming the highest level of performance | 551 | 2,396 | ||||||||||
Market and performance-based shares expected to vest | 208 | 1,859 | ||||||||||
Amount to be recognized as compensation cost over the performance period (thousands): | $ 1,510 | $ 10,616 | ||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||
Oct. 03, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Computation Of Basic And Diluted (Loss) Earnings Per Share | ' | ||||||||
Quarter ended | Three quarters ended | ||||||||
3-Oct-14 | 4-Oct-13 | 3-Oct-14 | 4-Oct-13 | ||||||
Numerator: | |||||||||
Net income (loss) to common shareholders | $ 13,887 | $ (8,178) | $ 37,539 | $ (4,654) | |||||
Denominator: | |||||||||
Denominator for basic earnings (loss) per share—weighted average common shares | 129,620 | 127,339 | 128,820 | 126,972 | |||||
Effect of Options and Awards | 3,006 | - | 2,779 | - | |||||
Denominator for diluted earnings (loss) per share—adjusted weighted average common shares | 132,626 | 127,339 | 131,599 | 126,972 | |||||
Earnings (loss) per share: | |||||||||
Basic | $ 0.11 | $ (0.06) | $ 0.29 | $ (0.04) | |||||
Diluted | $ 0.10 | $ (0.06) | $ 0.29 | $ (0.04) | |||||
Anti-dilutive shares not included in the above calculations: | |||||||||
Awards | - | 4,673 | - | 4,673 | |||||
Options | 1,422 | 8,442 | 1,072 | 8,442 | |||||
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Oct. 03, 2014 | Jan. 03, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value measurement of assets | $10,807,000 | $11,579,000 |
Fair value transfers, assets | 0 | 0 |
Other Non-Current Assets | Deferred Compensation Investments [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value measurement of assets | 10,807,000 | 11,579,000 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value measurement of assets | 360,000 | 491,000 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Other Non-Current Assets | Deferred Compensation Investments [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value measurement of assets | 360,000 | 491,000 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value measurement of assets | 10,447,000 | 11,088,000 |
Significant Other Observable Inputs (Level 2) [Member] | Other Non-Current Assets | Deferred Compensation Investments [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value measurement of assets | $10,447,000 | $11,088,000 |
Inventories_Details
Inventories (Details) (USD $) | Oct. 03, 2014 | Jan. 03, 2014 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Finished products | $18,386 | $20,783 |
Work in process | 45,522 | 38,759 |
Raw materials | 3,743 | 2,866 |
Total inventories | $67,651 | $62,408 |
Goodwill_And_Purchased_Intangi2
Goodwill And Purchased Intangibles (Narrative) (Details) | 9 Months Ended |
Oct. 03, 2014 | |
Definite-Lived: Developed Technologies [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite Lived Intangible Asset Useful Life | '5 years |
Definite-Lived: Other [Member] | Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite Lived Intangible Asset Useful Life | '4 years |
Definite-Lived: Other [Member] | Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite Lived Intangible Asset Useful Life | '7 years |
Goodwill_And_Purchased_Intangi3
Goodwill And Purchased Intangibles (Purchased Intangibles) (Details) (USD $) | Oct. 03, 2014 | Jan. 03, 2014 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | $133,900 | $154,580 |
Accumulated amortization | 93,940 | 97,939 |
Total expected amortization expense | 39,960 | 56,641 |
Definite-Lived: Developed Technologies [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 89,700 | 105,981 |
Accumulated amortization | 63,103 | 68,730 |
Total expected amortization expense | 26,597 | 37,251 |
Definite-Lived: Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 44,200 | 48,599 |
Accumulated amortization | 30,837 | 29,209 |
Total expected amortization expense | $13,363 | $19,390 |
Goodwill_And_Purchased_Intangi4
Goodwill And Purchased Intangibles (Expected Amortization Expense) (Details) (USD $) | Oct. 03, 2014 | Jan. 03, 2014 |
In Thousands, unless otherwise specified | ||
Goodwill And Purchased Intangibles [Abstract] | ' | ' |
Fiscal year 2014, remaining | $5,561 | ' |
Fiscal year 2015 | 16,717 | ' |
Fiscal year 2016 | 9,010 | ' |
Fiscal year 2017 | 6,757 | ' |
Fiscal year 2018 | 1,915 | ' |
Total expected amortization expense | $39,960 | $56,641 |
Restructuring_and_Related_Cost2
Restructuring and Related Costs (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Oct. 04, 2013 | Oct. 04, 2013 | Oct. 03, 2014 | Jan. 03, 2014 | Oct. 03, 2014 | Oct. 03, 2014 | Oct. 03, 2014 |
Employee Severance [Member] | Lease Exit [Member] | Other Restructuring [Member] | |||||
Restructuring and Related Cost [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Balance as of January 3, 2014 | ' | ' | $268 | $6,063 | ' | ' | ' |
Restructuring Charges | 9,067 | 28,694 | ' | ' | ' | ' | ' |
Cash payments | ' | ' | ' | ' | -4,850 | -868 | -77 |
Balance as of October 3, 2014 | ' | ' | $268 | $6,063 | ' | ' | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | |||||
In Millions, unless otherwise specified | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Apr. 04, 2014 | Oct. 03, 2014 | Jul. 04, 2014 | Oct. 03, 2014 |
Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | Domestic Tax Authority [Member] | ||||||
Tax Years 2008-2009 [Member] | Tax Years 2005-2007 [Member] | Tax Years 2005-2007 [Member] | ||||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in deferred tax assets and income tax payable | ' | ' | ' | ' | $23.50 | ' | ' | ' |
Decrease in unrecognized tax benefits | 7.5 | ' | ' | ' | ' | ' | ' | ' |
Cash payment from settlement with tax authorities | 2.7 | ' | ' | ' | ' | 0.3 | 0.5 | ' |
Cash payment due to additional tax from settlement with tax authorities | 2.4 | ' | ' | ' | ' | ' | ' | ' |
Cash payment due to interest from settlement with tax authorities | 0.3 | ' | ' | ' | ' | ' | ' | ' |
Decrease in deferred tax asset related to net operating loss | 4.8 | ' | ' | ' | ' | ' | ' | ' |
Estimated change in unrecognized tax benefits | ' | ' | ' | ' | ' | 0.3 | ' | 0.1 |
Income tax expense resulting from tax deficiencies related to equity-based compensation | $0.30 | $0.90 | $1.30 | $3 | ' | ' | ' | ' |
Income_Taxes_Summary_Of_Activi
Income Taxes (Summary Of Activity In Unrecognized Tax Benefits Resulting From Uncertain Tax Positions) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Oct. 03, 2014 | Jan. 03, 2014 |
Income Taxes [Abstract] | ' | ' |
Beginning balance (includes $7,102 of interest and penalties as of January 3, 2014) | $99,343 | ' |
Increases related to prior year tax positions | 1,007 | ' |
Settlements with tax authorities | -8,271 | ' |
Ending balance (includes $7,515 of interest and penalties as of October 3, 2014) | 92,079 | ' |
Interest and penalties | $7,515 | $7,102 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Oct. 03, 2014 | Jan. 03, 2014 |
Debt Instrument [Line Items] | ' | ' |
Term of credit facility | '5 years | ' |
Senior secured revolving credit facility | $325 | ' |
Facility maturity date | 1-Sep-16 | ' |
Outstanding borrowings against the Facility | 0 | 0 |
Outstanding letters of credit | 1.4 | 1.4 |
Standby Letters of Credit [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior secured revolving credit facility | 25 | ' |
Swing Line Loans | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior secured revolving credit facility | 10 | ' |
Multicurrency Borrowings | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Senior secured revolving credit facility | $50 | ' |
Common_Stock_And_Dividends_Nar
Common Stock And Dividends (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 03, 2014 | Jul. 28, 2014 | Oct. 03, 2014 | Oct. 24, 2014 |
Installment Q3 FY2014 [Member] | Installment Q4 FY2014 [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||
Installment Q3 FY2014 [Member] | Installment Q3 FY2014 [Member] | Installment Q4 FY2014 [Member] | |||||||
Dividends Payable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends declared per common share | $0.12 | $0.12 | $0.36 | $0.36 | ' | ' | $0.12 | ' | $0.12 |
Dividends paid | ' | ' | $47,225 | $46,554 | $15,600 | ' | ' | ' | ' |
Dividend declared date | ' | ' | ' | ' | ' | 24-Oct-14 | ' | 28-Jul-14 | ' |
Dividend paid date | ' | ' | ' | ' | ' | 28-Nov-14 | ' | 29-Aug-14 | ' |
Dividend record date | ' | ' | ' | ' | ' | 18-Nov-14 | ' | 19-Aug-14 | ' |
Common_Stock_And_Dividends_Sha
Common Stock And Dividends (Share Activity For Class A Common Stock) (Details) | Oct. 03, 2014 | Jan. 03, 2014 | Oct. 03, 2014 |
Common Class A | |||
Class of Stock [Line Items] | ' | ' | ' |
Beginning balance | 130,072,428 | 127,714,810 | ' |
Shares issued under stock plans, net of shares withheld for taxes | ' | ' | 2,357,000 |
Ending balance | 130,072,428 | 127,714,810 | ' |
EquityBased_Compensation_Summa
Equity-Based Compensation (Summary Of Weighted-Average Fair Value Compensation Cost Per Share Of Awards Granted) (Details) (Awards [Member], USD $) | 3 Months Ended | |
Oct. 03, 2014 | Oct. 04, 2013 | |
Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Weighted-average fair value compensation cost per share of restricted and deferred stock awards | $10.33 | $8.45 |
EquityBased_Compensation_Equit
Equity-Based Compensation (Equity Based Compensation Summary) (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Oct. 03, 2014 | Jan. 03, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | |
Shares, Beginning balance | 7,496,000 | ' | |
Shares, Exercised | -1,101,000 | [1] | ' |
Shares, Canceled | -903,000 | ' | |
Shares, Outstanding, Ending balance | 5,492,000 | 7,496,000 | |
Shares, Exercisable/vested | 4,773,000 | [1] | ' |
Shares, Number vested and expected to ultimately vest | 5,395,000 | ' | |
Options, Weighted-average exercise price (per share), Outstanding, beginning balance | $13.50 | ' | |
Options, Weighted-average exercise price (per share), Exercised | $12.40 | [1] | ' |
Options, Weighted-average exercise price (per share), Canceled | $19.40 | ' | |
Options, Weighted-average exercise price (per share), Outstanding, ending balance | $12.70 | $13.50 | |
Options, Weighted-average exercise price (per share), Exercisable/vested | $12.90 | [1] | ' |
Options, Weighted-average exercise price (per share), Number vested and expected to ultimately vest | $12.70 | ' | |
Options, Weighted-average remaining contract lives (in years), Outstanding. beginning balance | '3 years | '3 years 3 months 18 days | |
Options, Weighted-average remaining contract lives (in years), Exercised | '2 years 1 month 6 days | [1] | ' |
Options, Weighted-average remaining contract lives (in years), Canceled | '8 months 12 days | ' | |
Options, Weighted-average remaining contract lives (in years), Outstanding, ending balance | '3 years | '3 years 3 months 18 days | |
Options, Weighted-average remaining contract lives (in years), Exercisable/vested | '2 years 9 months 18 days | [1] | ' |
Options, Weighted-average remaining contract lives (in years), Number vested and expected to ultimately vest | '3 years | ' | |
Awards, Shares, Outstanding, Beginning balance | 4,604,000 | ' | |
Awards, Shares, Granted | 2,043,000 | ' | |
Awards, Shares, Exercised | -1,085,000 | [1] | ' |
Awards, Shares, Canceled | -279,000 | ' | |
Awards, Shares, Outstanding, Ending Balance | 5,283,000 | 4,604,000 | |
Awards, Shares, Exercisable/Vested | 67,000 | [1] | ' |
Awards, Shares, Number vested and expected to ultimately vest | 3,986,000 | ' | |
Aggregate intrinsic value, Outstanding as of October 3, 2014 | $84,227 | ' | |
Aggregate intrinsic value, Exercisable/vested | 9,909 | [1] | ' |
Aggregate unrecognized compensation cost, Outstanding as of October 3, 2014 | 29,497 | ' | |
Aggregate intrinsic value, Number vested and expected to ultimately vest | $65,946 | ' | |
Awards [Member] | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | |
Shares, Exercisable/vested | 66,670 | ' | |
[1] | Awards exercised are those that have reached full vested status and have been delivered to the recipients as a taxable event due to elective deferral, available in the case of deferred stock units. Deferred stock units for which the deferral is elected timely are vested but still outstanding as Awards. Total un-issued shares related to deferred stock units as of October 3, 2014 were 66,670 shares as shown in the Awards column as Exercisable/vested. |
EquityBased_Compensation_Equit1
Equity-Based Compensation (Equity-Based Compensation, Additional Disclosures) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Oct. 03, 2014 | Oct. 04, 2013 |
Equity-Based Compensation [Abstract] | ' | ' |
Shares issued under the employee stock purchase plan | 495 | 408 |
Aggregate intrinsic value of Options exercised | $2,249 | $148 |
EquityBased_Compensation_Equit2
Equity-Based Compensation (Equity-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 |
Options [Member] | Options [Member] | Options [Member] | Options [Member] | Awards [Member] | Awards [Member] | Awards [Member] | Awards [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Cost of Revenue [Member] | Cost of Revenue [Member] | Cost of Revenue [Member] | Cost of Revenue [Member] | Research and Development Expense [Member] | Research and Development Expense [Member] | Research and Development Expense [Member] | Research and Development Expense [Member] | Selling, General and Administrative [Member] | Selling, General and Administrative [Member] | Selling, General and Administrative [Member] | Selling, General and Administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation expense | ' | $294 | $1,078 | $890 | $4,102 | $3,829 | $2,965 | $12,038 | $10,353 | $262 | $244 | $750 | $768 | $294 | $324 | $1,007 | $1,089 | $1,967 | $1,691 | $5,968 | $6,135 | $2,124 | $2,272 | $6,704 | $7,999 |
Equity-based compensation capitalized in inventory | $341 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
EquityBased_Compensation_Marke
Equity-Based Compensation (Market and Performance-Based Grants) (Details) (USD $) | Oct. 03, 2014 |
In Millions, except Share data in Thousands, unless otherwise specified | |
Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Market and Performance-based units outstanding | 368 |
Maximum shares that could be issued assuming the highest level of performance and market | 551 |
Market and Performance-based shares expected to vest | 208 |
Amount to be recognized as compensation cost over the performance period | $1,510 |
Awards [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Market and Performance-based units outstanding | 1,343 |
Maximum shares that could be issued assuming the highest level of performance and market | 2,396 |
Market and Performance-based shares expected to vest | 1,859 |
Amount to be recognized as compensation cost over the performance period | $10,616 |
Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Grants participants may receive from original grant | 0.00% |
Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Grants participants may receive from original grant | 200.00% |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Oct. 03, 2014 | Oct. 04, 2013 | Oct. 03, 2014 | Oct. 04, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Net income (loss) to common shareholders | $13,887 | ($8,178) | $37,539 | ($4,654) |
Denominator for basic earnings (loss) per share-weighted average common shares | 129,620 | 127,339 | 128,820 | 126,972 |
Effect of Options and Awards | 3,006 | ' | 2,779 | ' |
Denominator for diluted earnings (loss) per share adjusted-weighted average common shares | 132,626 | 127,339 | 131,599 | 126,972 |
Basic | $0.11 | ($0.06) | $0.29 | ($0.04) |
Diluted | $0.10 | ($0.06) | $0.29 | ($0.04) |
Awards [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares not included in the above calculations | ' | 4,673 | ' | 4,673 |
Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares not included in the above calculations | 1,422 | 8,442 | 1,072 | 8,442 |
Segment_Information_Details
Segment Information (Details) | 9 Months Ended |
Oct. 03, 2014 | |
segment | |
Segment Information [Abstract] | ' |
Number of reportable segments | 1 |