Garmin (GRMN) 10-Q 29 Oct 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 27, 2014	Oct. 27, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	27-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Entity Registrant Name	'GARMIN LTD	'
Entity Central Index Key	'0001121788	'
Current Fiscal Year End Date	'--12-27	'
Entity Filer Category	'Large Accelerated Filer	'
Trading Symbol	'GRMN	'
Entity Common Stock, Shares Outstanding	'	208,077,418

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 27, 2014	Dec. 28, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$1,154,558	$1,179,149
Marketable securities	151,366	149,862
Accounts receivable, net	478,722	564,586
Inventories, net	466,482	382,226
Deferred income taxes	59,186	69,823
Deferred costs	52,113	57,368
Loan receivable	0	137,379
Prepaid expenses and other current assets	59,058	55,243
Total current assets	2,421,485	2,595,636
Property and equipment, net	431,753	414,848
Marketable securities	1,453,047	1,502,106
Restricted cash	293	249
Noncurrent deferred income tax	84,345	88,324
Noncurrent deferred costs	35,272	41,157
Other intangible assets, net	221,566	219,494
Other assets	21,603	17,789
Total assets	4,669,364	4,879,603
Current liabilities:	'	'
Accounts payable	144,882	146,582
Salaries and benefits payable	67,496	59,794
Accrued warranty costs	26,543	26,767
Accrued sales program costs	38,699	50,903
Deferred revenue	210,621	256,908
Accrued royalty costs	52,558	64,538
Accrued advertising expense	23,480	19,448
Other accrued expenses	77,157	65,657
Deferred income taxes	6,823	989
Income taxes payable	197,846	38,043
Dividend payable	277,378	175,675
Total current liabilities	1,123,483	905,304
Deferred income taxes	36,073	1,758
Non-current income taxes	135,911	140,933
Non-current deferred revenue	136,025	171,012
Other liabilities	1,459	890
Stockholders' equity:	'	'
Shares, CHF 10 par value, 208,077 shares authorized and issued; 191,227 shares outstanding at September 27, 2014 and 195,150 shares outstanding at December 28, 2013	1,797,435	1,797,435
Additional paid-in capital	92,144	79,263
Treasury stock	-350,063	-120,620
Retained earnings	1,649,727	1,865,587
Accumulated other comprehensive income	47,170	38,041
Total stockholders' equity	3,236,413	3,659,706
Total liabilities and stockholders' equity	$4,669,364	$4,879,603

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (CHF)	Sep. 27, 2014	Dec. 28, 2013
In Thousands, except Per Share data, unless otherwise specified
Shares, par value	10	10
Shares, shares authorized	208,077	208,077
Shares, shares issued	208,077	208,077
Shares, shares outstanding	191,227	195,150

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Net sales	$706,283	$643,637	$2,067,352	$1,872,156
Cost of goods sold	308,037	290,748	893,788	859,494
Gross profit	398,246	352,889	1,173,564	1,012,662
Advertising expense	33,112	26,251	92,457	77,983
Selling, general and administrative expense	90,632	86,462	272,914	260,769
Research and development expense	98,998	88,427	293,567	272,349
Total operating expense	222,742	201,140	658,938	611,101
Operating income	175,504	151,749	514,626	401,561
Other income (expense):	'	'	'	'
Interest income	9,344	8,435	28,781	25,512
Foreign currency gains (losses)	-12,703	-822	-20,266	18,280
Other	517	1,438	707	3,666
Total other income (expense)	-2,842	9,051	9,222	47,458
Income before income taxes	172,662	160,800	523,848	449,019
Income tax provision (benefit)	319,496	-26,869	369,882	192
Net income (loss)	($146,834)	$187,669	$153,966	$448,827
Net income (loss) per share:	'	'	'	'
Basic	($0.76)	$0.96	$0.79	$2.30
Diluted	($0.76)	$0.96	$0.79	$2.29
Weighted average common shares outstanding:	'	'	'	'
Basic	192,239	195,325	193,700	195,488
Diluted	192,239	196,300	194,763	196,312
Dividends declared per share	'	'	$1.92	$1.80

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Net income (loss)	($146,834)	$187,669	$153,966	$448,827
Translation adjustment	-22,791	13,379	-15,552	-24,177
Change in fair value of available-for-sale marketable securities, net of deferred taxes	-3,332	-6,441	24,681	-42,596
Comprehensive income (loss)	($172,957)	$194,607	$163,095	$382,054

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013
Operating Activities:	'	'
Net income	$153,966	$448,827
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	35,860	36,840
Amortization	19,705	23,629
(Gain) loss on sale of property and equipment	-742	41
Provision for doubtful accounts	778	1,023
Deferred income taxes	55,235	2,851
Unrealized foreign currency loss (gain)	22,610	-17,273
Provision for obsolete and slow moving inventories	21,051	15,965
Stock compensation expense	18,988	15,608
Realized loss (gain) on marketable securities	685	-2,963
Changes in operating assets and liabilities:	'	'
Accounts receivable	74,323	128,098
Inventories	-107,273	-44,337
Other current and non-current assets	1,528	-18,329
Accounts payable	-3,209	21,936
Other current and non-current liabilities	-1,997	-60,719
Deferred revenue	-80,712	-22,613
Deferred cost	11,136	-57
Income taxes payable	155,762	-48,256
Net cash provided by operating activities	377,694	480,271
Investing activities:	'	'
Purchases of property and equipment	-54,829	-41,325
Proceeds from sale of property and equipment	748	65
Purchase of intangible assets	-9,422	-1,574
Purchase of marketable securities	-746,305	-716,226
Redemption of marketable securities	807,778	578,464
Proceeds from repayment (advances) on loan receivable	137,379	-173,708
Change in restricted cash	-44	584
Acquisitions, net of cash acquired	-18,871	-5,686
Net cash provided by (used in) investing activities	116,434	-359,406
Financing activities:	'	'
Dividends paid	-268,023	-263,857
Purchase of treasury stock under share repurchase plan	-241,460	-26,926
Purchase of treasury stock related to equity awards	-11,274	-7,430
Proceeds from issuance of treasury stock related to equity awards	12,761	13,620
Tax benefit from issuance of equity awards	4,422	411
Net cash used in financing activities	-503,574	-284,182
Effect of exchange rate changes on cash and cash equivalents	-15,145	837
Net decrease in cash and cash equivalents	-24,591	-162,480
Cash and cash equivalents at beginning of period	1,179,149	1,231,180
Cash and cash equivalents at end of period	$1,154,558	$1,068,700

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 27, 2014
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Basis of Presentation	'
	1	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of Garmin Ltd. (“Garmin” or the “Company”) have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Additionally, the condensed consolidated financial statements should be read in conjunction with Item 2 of Management's Discussion and Analysis of Financial Condition and Results of Operations, included in this Form 10-Q. Operating results for the 13-week and 39-week periods ended September 27, 2014 are not necessarily indicative of the results that may be expected for the year ending December 27, 2014.
	The condensed consolidated balance sheet at December 28, 2013 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 28, 2013.
	The Company’s fiscal year is based on a 52-53 week period ending on the last Saturday of the calendar year. Therefore the financial results of certain fiscal years, and the associated 14-week quarters, will not be exactly comparable to the prior and subsequent 52-week fiscal years and the associated quarters having only 13 weeks. The quarters ended September 27, 2014 and September 28, 2013 both contain operating results for 13 weeks.

Inventories

Inventories	9 Months Ended
	Sep. 27, 2014
Inventory Disclosure [Abstract]	'
Inventories	'
	2	Inventories
	The components of inventories consist of the following:
			September 27, 2014		December 28, 2013
	Raw materials		$	155,178	$	131,408
	Work-in-process			55,877		50,110
	Finished goods			296,718		229,089
	Inventory reserves			-41,291		-28,381
	Inventory, net of reserves		$	466,482	$	382,226

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 27, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	3	Earnings Per Share
	The following tables set forth the computation of basic and diluted net income per share:
			13-Weeks Ended
			Sept 27,		Sept 28,
			2014		2013
	Numerator:
	Numerator for basic and diluted net income per share - net income		$	-146,834	$	187,669
	Denominator:
	Denominator for basic net income per share – weighted-average common shares			192,239		195,325
	Effect of dilutive securities – stock options, stock appreciation rights and restricted stock units			-		975
	Denominator for diluted net income per share – adjusted weighted-average common shares			192,239		196,300
	Basic net income per share		$	-0.76	$	0.96
	Diluted net income per share		$	-0.76	$	0.96
	For the 13 weeks ended September 27, 2014, the effect of dilutive securities has been excluded because the effect would have been anti-dilutive.
	There were 5,443 anti-dilutive stock options, stock appreciation rights and restricted stock units (collectively “equity awards”) for the 13-week period ended September 28, 2013. There were 81 and 234 shares issued as a result of exercises of equity awards for the 13-week periods ended September 27, 2014 and September 28, 2013, respectively.
			39-Weeks Ended
			Sept 27,		Sept 28,
			2014		2013
	Numerator:
	Numerator for basic and diluted net income per share - net income		$	153,966	$	448,827
	Denominator:
	Denominator for basic net income per share – weighted-average co mmon shares			193,700		195,488
	Effect of dilutive securities – stock options, stock appreciation rights and restricted stock units			1,063		824
	Denominator for diluted net income per share – adjusted weighted-average common shares			194,763		196,312
	Basic net income per share		$	0.79	$	2.3
	Diluted net income per share		$	0.79	$	2.29
	There were 2,253 and 5,507 anti-dilutive equity awards for the 39-week periods ended September 27, 2014 and September 28, 2013, respectively. There were 446 and 344 shares issued as a result of exercises of equity awards for the 39-week periods ended September 27, 2014 and September 28, 2013, respectively.

Segment_Information

Segment Information	9 Months Ended
	Sep. 27, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	4	Segment Information
	The Company has identified five operating segments – Auto/Mobile, Aviation, Marine, Outdoor and Fitness. Each operating segment is individually reviewed and evaluated by our Chief Operating Decision Maker, who allocates resources and assesses performance of each segment individually.
	Net sales, operating income, and income before taxes for each of the Company’s reportable segments are presented below:
			Reportable Segments
									Auto/
			Outdoor		Fitness		Marine		Mobile		Aviation		Total
	13-Weeks Ended September 27, 2014
	Net sales		$	121,079	$	116,171	$	62,128	$	307,558	$	99,347	$	706,283
	Operating income		$	51,382	$	36,670	$	5,452	$	53,042	$	28,958	$	175,504
	Income before taxes		$	49,407	$	34,625	$	5,401	$	55,736	$	27,493	$	172,662
	13-Weeks Ended September 28, 2013
	Net sales		$	101,350	$	81,007	$	55,301	$	322,520	$	83,459	$	643,637
	Operating income		$	44,107	$	26,493	$	4,118	$	53,848	$	23,183	$	151,749
	Income before taxes		$	45,556	$	27,938	$	4,347	$	58,144	$	24,815	$	160,800
	39-Weeks Ended September 27, 2014
	Net sales		$	311,123	$	367,137	$	195,911	$	900,545	$	292,636	$	2,067,352
	Operating income		$	110,345	$	133,054	$	26,919	$	158,248	$	86,060	$	514,626
	Income before taxes		$	111,234	$	130,985	$	28,452	$	166,356	$	86,821	$	523,848
	39-Weeks Ended September 28, 2013
	Net sales		$	284,372	$	237,660	$	178,344	$	919,810	$	251,970	$	1,872,156
	Operating income		$	110,538	$	76,026	$	16,089	$	134,324	$	64,584	$	401,561
	Income before taxes		$	117,996	$	81,186	$	20,828	$	160,803	$	68,206	$	449,019
	Allocation of certain research and development expenses, and selling, general, and administrative expenses are made to each segment on a percent of revenue basis.
	Net sales and property and equipment, net by geographic area are as follows as of and for the 39-week periods ended September 27, 2014 and September 28, 2013. Note that APAC includes Asia Pacific and EMEA includes Europe, the Middle East and Africa:
			Americas		APAC		EMEA		Total
	27-Sep-14
	Net sales to external customers		$	1,090,267	$	195,225	$	781,860	$	2,067,352
	Property and equipment, net		$	263,581	$	117,191	$	50,981	$	431,753
	28-Sep-13
	Net sales to external customers		$	1,002,796	$	176,524	$	692,836	$	1,872,156
	Property and equipment, net		$	235,520	$	123,763	$	54,392	$	413,675

Warranty_Reserves

Warranty Reserves	9 Months Ended
	Sep. 27, 2014
Product Warranties Disclosures [Abstract]	'
Warranty Reserves	'
	5	Warranty Reserves
	The Company’s products sold are generally covered by a warranty for periods ranging from one to two years. The Company’s estimate of costs to service its warranty obligations are based on historical experience and expectation of future conditions and are recorded as a liability on the balance sheet. The following reconciliation provides an illustration of changes in the aggregate warranty reserve.
			13-Weeks Ended
			Sept 27,		Sept 28,
			2014		2013
	Balance - beginning of the period		$	27,349	$	34,288
	Accrual for products sold			8,512		10,884
	Expenditures			-9,318		-10,533
	Balance - end of the period		$	26,543	$	34,639
			39-Weeks Ended
			Sept 27,		Sept 28,
			2014		2013
	Balance - beginning of the period		$	26,767	$	37,301
	Accrual for products sold			29,803		29,076
	Expenditures			-30,027		-31,738
	Balance - end of the period		$	26,543	$	34,639

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 27, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	6	Commitments and Contingencies
	We are party to certain commitments, which includes raw materials, advertising and other indirect purchases in connection with conducting our business. Pursuant to these agreements, the Company is contractually committed to make purchases of approximately $220,299 over the next five years.
	In the normal course of business, the Company and its subsidiaries are parties to various legal claims, actions, and complaints, including matters involving patent infringement, other intellectual property, product liability, customer claims and various other risks. It is not possible to predict with certainty whether or not the Company and its subsidiaries will ultimately be successful in any of these legal matters, or if not, what the impact might be. However, the Company’s management does not expect that the results in any of these legal proceedings will have a material adverse effect on the Company’s results of operations, financial position or cash flows.
	On March 14, 2013, the Company entered into a Memorandum of Agreement (the “Agreement”) with Bombardier, Inc. (“Bombardier”). The Company is the supplier of the avionics system for the Lear 70 and Lear 75 aircraft currently in development for Learjet, Inc., which is a subsidiary of Bombardier (the “Program”). In order to assist Bombardier in connection with delayed cash flows from the Program partially related to the certification of avionics for the Program exceeding the planned delivery date, the Company agreed to provide Bombardier a short term, interest free, loan of $173,708 in cash in seven installments beginning on March 22, 2013 and ending on September 20, 2013 pursuant to the terms and conditions of the Agreement. Bombardier repaid the loan in four installments beginning in November 2013 and ending in April 2014 pursuant to the terms and conditions of the Agreement and subsequent amendment signed December 6, 2013. As of September 27, 2014, the Company had received all repayments and the loan receivable is now $0.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 27, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	7	Income Taxes
	Our income tax expense increased by $346,365, to $319,496 for the 13-week period ended September 27, 2014, from a benefit of $26,869 for the 13-week period ended September 28, 2013.  Contributing to the significant increase were:
		⋅	tax expense of $307,635 associated with the inter-company restructuring which is discussed below,
		⋅	release of uncertain tax position reserves due to expiration of certain statutes of limitations or completion of tax audits of $24,400 in third quarter 2014 compared to releases of $52,180 in third quarter 2013,
		⋅	unfavorable income mix across tax jurisdictions,
		⋅	expiration of certain Taiwan tax holidays and
		⋅	expiration of the Federal Research & Development Tax Credit on December 31, 2013.
	Our income tax expense increased by $369,690, to $369,882 for the first three quarters of 2014, compared to $192 for the first three quarters of 2013.  Contributing to the significant increase were:
		⋅	tax expense of $307,635 associated with the inter-company restructuring which is discussed below
		⋅	release of uncertain tax position reserves due to expiration of certain statutes of limitations or completion of tax audits of $35,385 in the first three quarters of 2014 compared to releases of $78,272 in the first three quarters of 2013,
		⋅	unfavorable income mix across tax jurisdictions,
		⋅	expiration of certain Taiwan tax holidays,
		⋅	expiration of the Federal Research & Development Tax Credit on December 31, 2013 and
		⋅	research and development tax credits of $6,301 related to 2012 which were recognized when the related legislation was enacted in January 2013.
	In the third quarter of 2014, the Company initiated an inter-company restructuring that moved certain U.S. subsidiaries out from under our Taiwanese subsidiary. This change in corporate structure provides access to historical earnings that were previously permanently reinvested, and allows us to efficiently repatriate future earnings to fund dividends, share repurchases, and acquisitions.  As a result of the change in corporate structure, Garmin recorded tax expense of $307,635. The first cash tax payment of $78,137 associated with the restructuring was made in the third quarter of 2014. We anticipate paying approximately $185,000 in the second quarter of 2015. The remainder of the accrued tax will be paid incrementally as the cash is repatriated.

Marketable_Securities

Marketable Securities	9 Months Ended
	Sep. 27, 2014
Investments, Debt and Equity Securities [Abstract]	'
Marketable Securities	'
	8. Marketable Securities
	The FASB ASC topic entitled Fair Value Measurements and Disclosures defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The accounting guidance classifies the inputs used to measure fair value into the following hierarchy:
		Level 1	Unadjusted quoted prices in active markets for identical assets or liability
		Level 2	Observable inputs for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability
		Level 3	Unobservable inputs for the asset or liability
	The Company endeavors to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The valuation methods used by the Company for each significant class of investments are summarized below.
	Mortgage-backed securities, corporate bonds and obligations of states and political subdivisions – Valued based on prices obtained from an independent pricing vendor using both market and income approaches. The primary inputs to the valuation include quoted prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, and credit spreads.
	Common stocks – Valued at the closing price reported on the active market on which the individual securities are traded.
	The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
	Available for sale securities measured at estimated fair value on a recurring basis are summarized below:
			Fair Value Measurements as
			of September 27, 2014
	Description		Total		Level 1		Level 2		Level 3
	Mortgage-backed securities		$	380,925	$	-	$	380,925	$	-
	Obligations of states and political subdivisions			554,176		-		554,176		-
	Corporate bonds			551,687		-		551,687		-
	Common stocks			30,267		30,267		-		-
	Other			87,358		-		87,358		-
	Total		$	1,604,413	$	30,267	$	1,574,146	$	-
			Fair Value Measurements as
			of December 29, 2013
	Description		Total		Level 1		Level 2		Level 3
	Mortgage-backed securities		$	437,330	$	-	$	437,330	$	-
	Obligations of states and political subdivisions			647,354		-		647,354		-
	Corporate bonds			457,148		-		457,148		-
	Common stocks			29,854		29,854		-		-
	Other			80,282		-		80,282		-
	Total		$	1,651,968	$	29,854	$	1,622,114	$	-
	Marketable securities classified as available-for-sale securities are summarized below:
			Available-For-Sale Securities
			as of September 27, 2014
			Amortized Cost		Gross		Gross		Gross Unrealized		Estimated Fair
					Unrealized		Unrealized		Losses-Other(2)		Value (Net
					Gains		Losses-OTTI(1)				Carrying
											Amount)
	Mortgage-backed securities		$	390,093	$	648	$	-4,764		-5,052	$	380,925
	Obligations of states and political subdivisions			564,818		988		-11,345		-285		554,176
	U.S. corporate bonds			556,931		649		-4,673		-1,220		551,687
	Common stocks			30,918		75		-726		-		30,267
	Other			85,147		2,256		-45		-		87,358
	Total		$	1,627,907	$	4,616	$	-21,553	$	-6,557	$	1,604,413
			Available-For-Sale Securities as
			of December 28, 2013
			Amortized Cost		Gross		Gross		Gross Unrealized		Estimated Fair
					Unrealized Gains		Unrealized		Losses-Other(2)		Value (Net
							Losses-OTTI(1)				Carrying
											Amount)
	Mortgage-backed securities		$	461,054	$	2,692	$	-22,614	$	-3,802	$	437,330
	Obligations of states and political subdivisions			673,529		1,601		-27,509		-267		647,354
	U.S. corporate bonds			463,437		1,050		-7,031		-308		457,148
	Common stocks			24,540		5,413		-99		-		29,854
	Other			78,059		2,326		-103		-		80,282
	Total		$	1,700,619	$	13,082	$	-57,356	$	-4,377	$	1,651,968
		-1	Represents impairment not related to credit for those investment securities that have been determined to be other-than-temporarily impaired.
		-2	Represents unrealized losses on investment securities that have not been determined to be other-than-temporarily impaired.
	The Company’s investment policy requires investments to be rated A or better with the objective of minimizing the potential risk of principal loss. The Company does not intend to sell the securities that have an unrealized loss shown in the table above and it is not more likely than not that the Company will be required to sell the investment before recovery of their amortized costs bases, which may be maturity. The Company recognizes the credit component of other-than-temporary impairments of debt securities in "Other Income" and the noncredit component in "Other comprehensive income (loss)" for those securities that we do not intend to sell and for which it is not more likely than not that we will be required to sell before recovery. During 2014 and 2013, the Company did not record any material impairment charges on its outstanding securities.
	The fair value of our securities varies from period to period due to changes in interest rates, in the performance of the underlying collateral and in the credit performance of the underlying issuer, among other factors. In 2013, the Company experienced unrealized, non-cash losses on its investment portfolio resulting in a balance of $57,356 and $4,377 of gross other-than-temporary impairment and other unrealized losses on marketable securities at December 28, 2013. The amortized cost and estimated fair value of the securities at an unrealized loss position at December 28, 2013 were $1,215,498 and $1,153,765, respectively. This decrease in estimated fair value was primarily due to market valuations on mortgage-backed securities and obligations of states and political subdivisions declining. The decline was due to increases in the 10 Year Treasury Bond Yield during 2013, which caused market valuations of securities in our investment portfolios to decline.
	The 10 Year Treasury Bond Yield decreased in 2014, resulting in a balance of $21,553 and $6,557 of gross other-than-temporary impairment and other unrealized losses on marketable securities at September 27, 2014. The amortized cost and estimated fair value of the securities at an unrealized loss position at September 27, 2014 were $1,216,948 and $1,188,838, respectively. Approximately 52% of securities in our portfolio were at an unrealized loss position at September 27, 2014. We have the ability to hold these securities until maturity or their value is recovered. We do not consider these unrealized losses to be other than temporary credit losses because there has been no deterioration in credit quality and no change in the cash flows of the underlying securities. We do not intend to sell the securities and it is not more likely than not that we will be required to sell the securities; therefore, no impairment has been recorded in the accompanying condensed consolidated statement of income.
	The cost of securities sold is based on the specific identification method.
	The following table displays additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of September 27, 2014. There was an immaterial amount of unrealized losses related to securities that had been in a continuous unrealized loss position for 12 months or longer as of December 28, 2013.
			As of September 27, 2014
			Less than 12 Consecutive Months				12 Consecutive Months or Longer
			Gross Unrealized				Gross Unrealized
		Losses		Fair Value		Losses		Fair Value
Mortgage-backed securities		$	-1,213	$	133,250	$	-8,603	$	184,086
Obligations of states and political subdivisions			-400		76,481		-11,230		325,044
Corporate bonds			-3,840		341,445		-2,053		92,857
Common stocks			-726		21,265		-		-
Other			-37		12,948		-8		1,462
Total		$	-6,216	$	585,389	$	-21,894	$	603,449
The amortized cost and estimated fair value of marketable securities at September 27, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
				Estimated
		Cost		Fair Value
Due in one year or less		$	151,537	$	151,366
Due after one year through five years			711,418		707,308
Due after five years through ten years			249,737		244,345
Due after ten years			446,676		431,333
Other (No contractual maturity dates)			68,539		70,061
		$	1,627,907	$	1,604,413

Share_Repurchase_Plan

Share Repurchase Plan	9 Months Ended
	Sep. 27, 2014
Treasury Stock [Abstract]	'
Share Repurchase Plan	'
		9	Share Repurchase Plan
	On February 15, 2013, the Board of Directors approved a share repurchase program authorizing the Company to purchase up to $300,000 of its common shares during the period ending December 31, 2014.  A Rule 10b5-1 plan was adopted and allowed the Company to repurchase its shares at times when it otherwise might have been prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. As of September 27, 2014, the Company had repurchased 5,746 shares using cash of $300,000, and, as such, the Company has fully executed the authorized share repurchase plan.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 27, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Accumulated Other Comprehensive Income	'
	10	Accumulated Other Comprehensive Income
	The following provides required disclosure of changes in accumulated other comprehensive income (AOCI) balances by component for the 13-week and 39-week periods ended September 27, 2014:
			13-Weeks Ended Sept 27, 2014
			Foreign Currency		Gross Unrealized		Net Unrealized		Total
			Translation		Losses on		Gains (Losses) on
			Adjustment		Available-for-Sale		Available-for-Sale
					Securities-OTTI  (1)		Securities-Other  (2)
	Balance - beginning of period		$	92,602	$	-21,739	$	2,430	$	73,293
	Other comprehensive income before reclassification			-22,791		186		-3,400		-26,005
	Amounts reclassified from accumulated other comprehensive income			-		-		-118		-118
	Net current-period other comprehensive income			-22,791		186		-3,518		-26,123
	Balance - end of period		$	69,811	$	-21,553	$	-1,088	$	47,170
			39-Weeks Ended Sept 27, 2014
			Foreign Currency		Gross Unrealized		Net Unrealized		Total
			Translation		Losses on		Gains (Losses) on
			Adjustment		Available-for-Sale		Available-for-Sale
					Securities-OTTI (1)		Securities-Other (2)
	Balance - beginning of period		$	85,363	$	-57,356	$	10,034	$	38,041
	Other comprehensive income before reclassification			-15,552		35,803		-11,740		8,511
	Amounts reclassified from accumulated other comprehensive income			-		-		618		618
	Net current-period other comprehensive income			-15,552		35,803		-11,122		9,129
	Balance - end of period		$	69,811	$	-21,553	$	-1,088	$	47,170
		-1	Represents the change in impairment, not related to credit, for those investment securities that have been determined to be other-than-temporarily impaired.
		-2	Represents the change in unrealized gains/(losses) on investment securities that have not been determined to be other-than-temporarily impaired.
	The following provides required disclosure of reporting reclassifications out of AOCI for the 13-week and 39-week periods ended September 27, 2014:
	13-Weeks Ended Sept 27, 2014
	Details about Accumulated Other		Amount Reclassified		Affected Line Item in the
	Comprehensive Income Components		from Accumulated		Statement Where Net Income is
			Other Comprehensive		Presented
			Income
	Unrealized gains (losses) on available-for-sale securities		$	177	Other income (expense)
				-59	Income tax (provision) benefit
			$	118	Net of tax
	39-Weeks Ended Sept 27, 2014
	Details about Accumulated Other		Amount Reclassified		Affected Line Item in the
	Comprehensive Income Components		from Accumulated		Statement Where Net Income is
			Other Comprehensive		Presented
			Income
	Unrealized gains (losses) on available-for-sale securities		$	-685	Other income (expense)
				67	Income tax (provision) benefit
			$	-618	Net of tax

Recently_Issued_Accounting_Pro

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 27, 2014
New Accounting Pronouncements and Changes In Accounting Principles [Abstract]	'
Recently Issued Accounting Pronouncements	'
	11. Recently Issued Accounting Pronouncements
	In July 2013, the FASB issued Accounting Standards Update 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), which is included in ASC Topic 740 (Income Taxes). ASU 2013-11 requires an entity to net its liability for unrecognized tax positions against a net operating loss carryforward, a similar tax loss or a tax credit carryforward when settlement in this manner is available under the tax law. The provisions of this new guidance were effective for reporting periods beginning after December 15, 2013. The implementation of the amended accounting guidance did not have a material impact on the Company’s financial statements.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes previous revenue recognition guidance. ASU 2014-09 requires that a company recognize revenue at an amount that reflects the consideration to which the company expects to be entitled in exchange for transferring goods or services to a customer. In applying the new guidance, a company will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The provisions of this new guidance are effective for reporting periods beginning after December 15, 2016 and can be adopted using either a full retrospective or modified approach. The Company is currently evaluating the impact of adopting this new guidance on the Company’s financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 27, 2014
Business Combinations [Abstract]	'
Acquisitions	'
	12	Acquisitions
	In the third quarter of 2014, the Company acquired substantially all of the assets of Fusion Electronics Limited, a privately-held provider of integrated marine audio equipment, and certain of its subsidiaries, as well as the issued and outstanding capital stock of one of its subsidiaries. The acquisition was accounted for under the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, “Business Combinations.” Accordingly, the Company made an allocation of the purchase price at the acquisition date, based upon estimates of the fair value of the acquired assets and assumed liabilities using Level 3 inputs under the fair value hierarchy. The operating results of Fusion Electronics Limited since the acquisition date are included within the Marine segment of the consolidated financial statements.  The acquisition is not considered to be material; therefore, supplemental pro forma information is not presented.

Subsequent_events

Subsequent events	9 Months Ended
	Sep. 27, 2014
Subsequent Events [Abstract]	'
Subsequent events	'
		13	Subsequent events
	No significant events occurred subsequent to the balance sheet date but prior to October 29, 2014 that would have a material impact on the financial statements.

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Sep. 27, 2014
Inventory Disclosure [Abstract]	'
Components of Inventories	'
	The components of inventories consist of the following:
		September 27, 2014		December 28, 2013
	Raw materials	$	155,178	$	131,408
	Work-in-process		55,877		50,110
	Finished goods		296,718		229,089
	Inventory reserves		-41,291		-28,381
	Inventory, net of reserves	$	466,482	$	382,226

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 27, 2014
Earnings Per Share [Abstract]	'
Computation of Basic and Diluted Net Income Per Share	'
	The following tables set forth the computation of basic and diluted net income per share:
		13-Weeks Ended
		Sept 27,		Sept 28,
		2014		2013
	Numerator:
	Numerator for basic and diluted net income per share - net income	$	-146,834	$	187,669
	Denominator:
	Denominator for basic net income per share – weighted-average common shares		192,239		195,325
	Effect of dilutive securities – stock options, stock appreciation rights and restricted stock units		-		975
	Denominator for diluted net income per share – adjusted weighted-average common shares		192,239		196,300
	Basic net income per share	$	-0.76	$	0.96
	Diluted net income per share	$	-0.76	$	0.96
		39-Weeks Ended
		Sept 27,		Sept 28,
		2014		2013
	Numerator:
	Numerator for basic and diluted net income per share - net income	$	153,966	$	448,827
	Denominator:
	Denominator for basic net income per share – weighted-average co mmon shares		193,700		195,488
	Effect of dilutive securities – stock options, stock appreciation rights and restricted stock units		1,063		824
	Denominator for diluted net income per share – adjusted weighted-average common shares		194,763		196,312
	Basic net income per share	$	0.79	$	2.3
	Diluted net income per share	$	0.79	$	2.29

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 27, 2014
Segment Reporting [Abstract]	'
Net Sales Operating Income and Income Before Taxes for Reportable Segments	'
	Net sales, operating income, and income before taxes for each of the Company’s reportable segments are presented below:
		Reportable Segments
								Auto/
		Outdoor		Fitness		Marine		Mobile		Aviation		Total
	13-Weeks Ended September 27, 2014
	Net sales	$	121,079	$	116,171	$	62,128	$	307,558	$	99,347	$	706,283
	Operating income	$	51,382	$	36,670	$	5,452	$	53,042	$	28,958	$	175,504
	Income before taxes	$	49,407	$	34,625	$	5,401	$	55,736	$	27,493	$	172,662
	13-Weeks Ended September 28, 2013
	Net sales	$	101,350	$	81,007	$	55,301	$	322,520	$	83,459	$	643,637
	Operating income	$	44,107	$	26,493	$	4,118	$	53,848	$	23,183	$	151,749
	Income before taxes	$	45,556	$	27,938	$	4,347	$	58,144	$	24,815	$	160,800
	39-Weeks Ended September 27, 2014
	Net sales	$	311,123	$	367,137	$	195,911	$	900,545	$	292,636	$	2,067,352
	Operating income	$	110,345	$	133,054	$	26,919	$	158,248	$	86,060	$	514,626
	Income before taxes	$	111,234	$	130,985	$	28,452	$	166,356	$	86,821	$	523,848
	39-Weeks Ended September 28, 2013
	Net sales	$	284,372	$	237,660	$	178,344	$	919,810	$	251,970	$	1,872,156
	Operating income	$	110,538	$	76,026	$	16,089	$	134,324	$	64,584	$	401,561
	Income before taxes	$	117,996	$	81,186	$	20,828	$	160,803	$	68,206	$	449,019
Net Sales and Property and Equipment Net by Geographic Area	'
	Net sales and property and equipment, net by geographic area are as follows as of and for the 39-week periods ended September 27, 2014 and September 28, 2013. Note that APAC includes Asia Pacific and EMEA includes Europe, the Middle East and Africa:
		Americas		APAC		EMEA		Total
	27-Sep-14
	Net sales to external customers	$	1,090,267	$	195,225	$	781,860	$	2,067,352
	Property and equipment, net	$	263,581	$	117,191	$	50,981	$	431,753
	28-Sep-13
	Net sales to external customers	$	1,002,796	$	176,524	$	692,836	$	1,872,156
	Property and equipment, net	$	235,520	$	123,763	$	54,392	$	413,675

Warranty_Reserves_Tables

Warranty Reserves (Tables)	9 Months Ended
	Sep. 27, 2014
Product Warranties Disclosures [Abstract]	'
Changes in Aggregate Warranty Reserve	'
	The following reconciliation provides an illustration of changes in the aggregate warranty reserve.
		13-Weeks Ended
		Sept 27,		Sept 28,
		2014		2013
	Balance - beginning of the period	$	27,349	$	34,288
	Accrual for products sold		8,512		10,884
	Expenditures		-9,318		-10,533
	Balance - end of the period	$	26,543	$	34,639
		39-Weeks Ended
		Sept 27,		Sept 28,
		2014		2013
	Balance - beginning of the period	$	26,767	$	37,301
	Accrual for products sold		29,803		29,076
	Expenditures		-30,027		-31,738
	Balance - end of the period	$	26,543	$	34,639

Marketable_Securities_Tables

Marketable Securities (Tables)	9 Months Ended
	Sep. 27, 2014
Investments, Debt and Equity Securities [Abstract]	'
Available For Sale Securities Measured At Estimated Fair Value On Recurring Basis	'
	Available for sale securities measured at estimated fair value on a recurring basis are summarized below:
			Fair Value Measurements as
			of September 27, 2014
	Description		Total		Level 1		Level 2		Level 3
	Mortgage-backed securities		$	380,925	$	-	$	380,925	$	-
	Obligations of states and political subdivisions			554,176		-		554,176		-
	Corporate bonds			551,687		-		551,687		-
	Common stocks			30,267		30,267		-		-
	Other			87,358		-		87,358		-
	Total		$	1,604,413	$	30,267	$	1,574,146	$	-
			Fair Value Measurements as
			of December 29, 2013
	Description		Total		Level 1		Level 2		Level 3
	Mortgage-backed securities		$	437,330	$	-	$	437,330	$	-
	Obligations of states and political subdivisions			647,354		-		647,354		-
	Corporate bonds			457,148		-		457,148		-
	Common stocks			29,854		29,854		-		-
	Other			80,282		-		80,282		-
	Total		$	1,651,968	$	29,854	$	1,622,114	$	-
Marketable Securities Classified as Available-For-Sale Securities	'
	Marketable securities classified as available-for-sale securities are summarized below:
			Available-For-Sale Securities
			as of September 27, 2014
			Amortized Cost		Gross		Gross		Gross Unrealized		Estimated Fair
					Unrealized		Unrealized		Losses-Other(2)		Value (Net
					Gains		Losses-OTTI(1)				Carrying
											Amount)
	Mortgage-backed securities		$	390,093	$	648	$	-4,764		-5,052	$	380,925
	Obligations of states and political subdivisions			564,818		988		-11,345		-285		554,176
	U.S. corporate bonds			556,931		649		-4,673		-1,220		551,687
	Common stocks			30,918		75		-726		-		30,267
	Other			85,147		2,256		-45		-		87,358
	Total		$	1,627,907	$	4,616	$	-21,553	$	-6,557	$	1,604,413
			Available-For-Sale Securities as
			of December 28, 2013
			Amortized Cost		Gross		Gross		Gross Unrealized		Estimated Fair
					Unrealized Gains		Unrealized		Losses-Other(2)		Value (Net
							Losses-OTTI(1)				Carrying
											Amount)
	Mortgage-backed securities		$	461,054	$	2,692	$	-22,614	$	-3,802	$	437,330
	Obligations of states and political subdivisions			673,529		1,601		-27,509		-267		647,354
	U.S. corporate bonds			463,437		1,050		-7,031		-308		457,148
	Common stocks			24,540		5,413		-99		-		29,854
	Other			78,059		2,326		-103		-		80,282
	Total		$	1,700,619	$	13,082	$	-57,356	$	-4,377	$	1,651,968
		-1	Represents impairment not related to credit for those investment securities that have been determined to be other-than-temporarily impaired.
		-2	Represents unrealized losses on investment securities that have not been determined to be other-than-temporarily impaired.
Schedule of Available-for-sale-securities Unrealized Loss on Investments	'
	The following table displays additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of September 27, 2014. There was an immaterial amount of unrealized losses related to securities that had been in a continuous unrealized loss position for 12 months or longer as of December 28, 2013.
			As of September 27, 2014
			Less than 12 Consecutive Months				12 Consecutive Months or Longer
			Gross Unrealized				Gross Unrealized
			Losses		Fair Value		Losses		Fair Value
	Mortgage-backed securities		$	-1,213	$	133,250	$	-8,603	$	184,086
	Obligations of states and political subdivisions			-400		76,481		-11,230		325,044
	Corporate bonds			-3,840		341,445		-2,053		92,857
	Common stocks			-726		21,265		-		-
	Other			-37		12,948		-8		1,462
	Total		$	-6,216	$	585,389	$	-21,894	$	603,449
Amortized Cost and Estimated Fair Value of Marketable Securities, by Contractual Maturity	'
	The amortized cost and estimated fair value of marketable securities at September 27, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
					Estimated
			Cost		Fair Value
	Due in one year or less		$	151,537	$	151,366
	Due after one year through five years			711,418		707,308
	Due after five years through ten years			249,737		244,345
	Due after ten years			446,676		431,333
	Other (No contractual maturity dates)			68,539		70,061
			$	1,627,907	$	1,604,413

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 27, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Changes in Accumulated Other Comprehensive Income	'
	The following provides required disclosure of changes in accumulated other comprehensive income (AOCI) balances by component for the 13-week and 39-week periods ended September 27, 2014:
			13-Weeks Ended Sept 27, 2014
			Foreign Currency		Gross Unrealized		Net Unrealized		Total
			Translation		Losses on		Gains (Losses) on
			Adjustment		Available-for-Sale		Available-for-Sale
					Securities-OTTI  (1)		Securities-Other  (2)
	Balance - beginning of period		$	92,602	$	-21,739	$	2,430	$	73,293
	Other comprehensive income before reclassification			-22,791		186		-3,400		-26,005
	Amounts reclassified from accumulated other comprehensive income			-		-		-118		-118
	Net current-period other comprehensive income			-22,791		186		-3,518		-26,123
	Balance - end of period		$	69,811	$	-21,553	$	-1,088	$	47,170
			39-Weeks Ended Sept 27, 2014
			Foreign Currency		Gross Unrealized		Net Unrealized		Total
			Translation		Losses on		Gains (Losses) on
			Adjustment		Available-for-Sale		Available-for-Sale
					Securities-OTTI (1)		Securities-Other (2)
	Balance - beginning of period		$	85,363	$	-57,356	$	10,034	$	38,041
	Other comprehensive income before reclassification			-15,552		35,803		-11,740		8,511
	Amounts reclassified from accumulated other comprehensive income			-		-		618		618
	Net current-period other comprehensive income			-15,552		35,803		-11,122		9,129
	Balance - end of period		$	69,811	$	-21,553	$	-1,088	$	47,170
		-1	Represents the change in impairment, not related to credit, for those investment securities that have been determined to be other-than-temporarily impaired.
		-2	Represents the change in unrealized gains/(losses) on investment securities that have not been determined to be other-than-temporarily impaired.
Reclassifications out of AOCI	'
	The following provides required disclosure of reporting reclassifications out of AOCI for the 13-week and 39-week periods ended September 27, 2014:
	13-Weeks Ended Sept 27, 2014
	Details about Accumulated Other		Amount Reclassified		Affected Line Item in the
	Comprehensive Income Components		from Accumulated		Statement Where Net Income is
			Other Comprehensive		Presented
			Income
	Unrealized gains (losses) on available-for-sale securities		$	177	Other income (expense)
				-59	Income tax (provision) benefit
			$	118	Net of tax
	39-Weeks Ended Sept 27, 2014
	Details about Accumulated Other		Amount Reclassified		Affected Line Item in the
	Comprehensive Income Components		from Accumulated		Statement Where Net Income is
			Other Comprehensive		Presented
			Income
	Unrealized gains (losses) on available-for-sale securities		$	-685	Other income (expense)
				67	Income tax (provision) benefit
			$	-618	Net of tax

Inventories_Details

Inventories (Details) (USD $)	Sep. 27, 2014	Dec. 28, 2013
In Thousands, unless otherwise specified
Inventory [Line Items]	'	'
Raw materials	$155,178	$131,408
Work-in-process	55,877	50,110
Finished goods	296,718	229,089
Inventory reserves	-41,291	-28,381
Inventory, net of reserves	$466,482	$382,226

Earnings_Per_Share_Computation

Earnings Per Share (Computation of Basic and Diluted Net Income Per Share) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Numerator:	'	'	'	'
Numerator for basic and diluted net income per share - net income	($146,834)	$187,669	$153,966	$448,827
Denominator:	'	'	'	'
Denominator for basic net income per share weighted-average common shares	192,239	195,325	193,700	195,488
Effect of dilutive securities stock options, stock appreciation rights and restricted stock units	0	975	1,063	824
Denominator for diluted net income per share adjusted weighted-average common shares	192,239	196,300	194,763	196,312
Basic net income per share	($0.76)	$0.96	$0.79	$2.30
Diluted net income per share	($0.76)	$0.96	$0.79	$2.29

Earnings_Per_Share_Additional_

Earnings Per Share (Additional Information) (Details)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Anti-dilutive stock options, stock appreciation rights and restricted stock units	'	5,443	2,253	5,507
Shares issued as a result of exercises of equity awards	81	234	446	344

Segment_Information_Net_Sales_

Segment Information (Net Sales Operating Income and Income Before Taxes for Reportable Segments) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	$706,283	$643,637	$2,067,352	$1,872,156
Operating income	175,504	151,749	514,626	401,561
Income before taxes	172,662	160,800	523,848	449,019
Outdoor [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	121,079	101,350	311,123	284,372
Operating income	51,382	44,107	110,345	110,538
Income before taxes	49,407	45,556	111,234	117,996
Fitness [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	116,171	81,007	367,137	237,660
Operating income	36,670	26,493	133,054	76,026
Income before taxes	34,625	27,938	130,985	81,186
Marine [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	62,128	55,301	195,911	178,344
Operating income	5,452	4,118	26,919	16,089
Income before taxes	5,401	4,347	28,452	20,828
Auto/Mobile [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	307,558	322,520	900,545	919,810
Operating income	53,042	53,848	158,248	134,324
Income before taxes	55,736	58,144	166,356	160,803
Aviation [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net sales	99,347	83,459	292,636	251,970
Operating income	28,958	23,183	86,060	64,584
Income before taxes	$27,493	$24,815	$86,821	$68,206

Segment_Information_Net_Sales_1

Segment Information (Net Sales and Property and Equipment Net by Geographic Area) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013	Dec. 28, 2013
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Net sales to external customers	$706,283	$643,637	$2,067,352	$1,872,156	'
Property and equipment, net	431,753	413,675	431,753	413,675	414,848
Americas [Member]	'	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Net sales to external customers	'	'	1,090,267	1,002,796	'
Property and equipment, net	263,581	235,520	263,581	235,520	'
Asia Pacific [Member]	'	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Net sales to external customers	'	'	195,225	176,524	'
Property and equipment, net	117,191	123,763	117,191	123,763	'
Europe, Middle East and Africa [Member]	'	'	'	'	'
Revenues from External Customers and Long-Lived Assets [Line Items]	'	'	'	'	'
Net sales to external customers	'	'	781,860	692,836	'
Property and equipment, net	$50,981	$54,392	$50,981	$54,392	'

Warranty_Reserves_Changes_in_A

Warranty Reserves (Changes in Aggregate Warranty Reserve) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Product Liability Contingency [Line Items]	'	'	'	'
Balance - beginning of the period	$27,349	$34,288	$26,767	$37,301
Accrual for products sold	8,512	10,884	29,803	29,076
Expenditures	-9,318	-10,533	-30,027	-31,738
Balance - end of the period	$26,543	$34,639	$26,543	$34,639

Commitments_and_Contingencies_

Commitments and Contingencies (Additional Information) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014
Long-term Purchase Commitment [Line Items]	'
Commitments to make purchases, amount committed	$220,299
Commitments to make purchases, time period	'5 years
Short Term Interest Free Loan Payable	173,708
Number Of Installments For Short Term Loan Payable	7
Payments for Advance to Affiliate	$0

Income_Taxes_Additional_Inform

Income Taxes (Additional Information) (Details) (USD $)	3 Months Ended		9 Months Ended			3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013	Jun. 27, 2015	Sep. 27, 2014	Sep. 27, 2014
					Subsequent Event [Member]	Inter company Restructuring [Member]	Inter company Restructuring [Member]
Income Taxes [Line Items]	'	'	'	'	'	'	'
Increase (Decrease) in income tax expense	$346,365	'	$369,690	'	'	$307,635	$307,635
Income tax provision	319,496	-26,869	369,882	192	'	'	'
Income Tax Reconciliation, Tax Credits, Research	'	'	'	6,301	'	'	'
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	24,400	52,180	35,385	78,272	'	'	'
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Restructuring Charges, Amount	307,635	'	'	'	'	'	'
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount	78,137	'	'	'	'	'	'
Accrued Income Taxes	'	'	'	'	$185,000	'	'

Marketable_Securities_Availabl

Marketable Securities (Available for Sale Securities Measured at Estimated Fair Value on Recurring Basis) (Details) (USD $)	Sep. 27, 2014	Dec. 28, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	$1,604,413	$1,651,968
Mortgage-Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	380,925	437,330
Obligations of States and Political Subdivisions [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	554,176	647,354
Corporate Bond Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	551,687	457,148
Common Stocks [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	30,267	29,854
Other securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	87,358	80,282
Level 1 [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	30,267	29,854
Level 1 [Member] | Mortgage-Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 1 [Member] | Obligations of States and Political Subdivisions [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 1 [Member] | Corporate Bond Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 1 [Member] | Common Stocks [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	30,267	29,854
Level 1 [Member] | Other securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 2 [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	1,574,146	1,622,114
Level 2 [Member] | Mortgage-Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	380,925	437,330
Level 2 [Member] | Obligations of States and Political Subdivisions [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	554,176	647,354
Level 2 [Member] | Corporate Bond Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	551,687	457,148
Level 2 [Member] | Common Stocks [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 2 [Member] | Other securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	87,358	80,282
Level 3 [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 3 [Member] | Mortgage-Backed Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 3 [Member] | Obligations of States and Political Subdivisions [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 3 [Member] | Corporate Bond Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 3 [Member] | Common Stocks [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	0	0
Level 3 [Member] | Other securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Available-for-sale Securities, Total	$0	$0

Marketable_Securities_Classifi

Marketable Securities (Classified as Available-For-Sale Securities) (Details) (USD $)	9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014		Dec. 28, 2013
Schedule of Available-for-sale Securities [Line Items]	'		'
Amortized Cost	$1,627,907		$1,700,619
Gross Unrealized Gains	4,616		13,082
Gross Unrealized Losses-OTTI	-21,553	[1]	-57,356	[1]
Gross Unrealized Losses-Other	-6,557	[2]	-4,377	[2]
Estimated Fair Value (Net Carrying Amount)	1,604,413		1,651,968
Mortgage-Backed Securities [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Amortized Cost	390,093		461,054
Gross Unrealized Gains	648		2,692
Gross Unrealized Losses-OTTI	-4,764	[1]	-22,614	[1]
Gross Unrealized Losses-Other	-5,052	[2]	-3,802	[2]
Estimated Fair Value (Net Carrying Amount)	380,925		437,330
Obligations of States and Political Subdivisions [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Amortized Cost	564,818		673,529
Gross Unrealized Gains	988		1,601
Gross Unrealized Losses-OTTI	-11,345	[1]	-27,509	[1]
Gross Unrealized Losses-Other	-285	[2]	-267	[2]
Estimated Fair Value (Net Carrying Amount)	554,176		647,354
U.S. Corporate Bonds [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Amortized Cost	556,931		463,437
Gross Unrealized Gains	649		1,050
Gross Unrealized Losses-OTTI	-4,673	[1]	-7,031	[1]
Gross Unrealized Losses-Other	-1,220	[2]	-308	[2]
Estimated Fair Value (Net Carrying Amount)	551,687		457,148
Common Stocks [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Amortized Cost	30,918		24,540
Gross Unrealized Gains	75		5,413
Gross Unrealized Losses-OTTI	-726	[1]	-99	[1]
Gross Unrealized Losses-Other	0	[2]	0	[2]
Estimated Fair Value (Net Carrying Amount)	30,267		29,854
Other [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Amortized Cost	85,147		78,059
Gross Unrealized Gains	2,256		2,326
Gross Unrealized Losses-OTTI	-45	[1]	-103	[1]
Gross Unrealized Losses-Other	0	[2]	0	[2]
Estimated Fair Value (Net Carrying Amount)	$87,358		$80,282
[1]	Represents impairment not related to credit for those investment securities that have been determined to be other-than-temporarily impaired.
[2]	Represents unrealized losses on investment securities that have not been determined to be other-than-temporarily impaired.

Marketable_Securities_Schedule

Marketable Securities (Schedule of Available-for-sale-securities Unrealized Loss on Investments) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014
Gross Unrealized Losses	'
Gross Unrealized Losses Less than 12 Consecutive Months	($6,216)
Gross Unrealized Losses 12 Consecutive Months or Longer	-21,894
Fair Value	'
Fair Value Less than 12 Consecutive Months	585,389
Fair Value 12 Consecutive Months or Longer	603,449
Mortgage-Backed Securities [Member]	'
Gross Unrealized Losses	'
Gross Unrealized Losses Less than 12 Consecutive Months	-1,213
Gross Unrealized Losses 12 Consecutive Months or Longer	-8,603
Fair Value	'
Fair Value Less than 12 Consecutive Months	133,250
Fair Value 12 Consecutive Months or Longer	184,086
Obligations of States and Political Subdivisions [Member]	'
Gross Unrealized Losses	'
Gross Unrealized Losses Less than 12 Consecutive Months	-400
Gross Unrealized Losses 12 Consecutive Months or Longer	-11,230
Fair Value	'
Fair Value Less than 12 Consecutive Months	76,481
Fair Value 12 Consecutive Months or Longer	325,044
U.S. Corporate Bonds [Member]	'
Gross Unrealized Losses	'
Gross Unrealized Losses Less than 12 Consecutive Months	-3,840
Gross Unrealized Losses 12 Consecutive Months or Longer	-2,053
Fair Value	'
Fair Value Less than 12 Consecutive Months	341,445
Fair Value 12 Consecutive Months or Longer	92,857
Common Stock [Member]	'
Gross Unrealized Losses	'
Gross Unrealized Losses Less than 12 Consecutive Months	-726
Gross Unrealized Losses 12 Consecutive Months or Longer	0
Fair Value	'
Fair Value Less than 12 Consecutive Months	21,265
Fair Value 12 Consecutive Months or Longer	0
Other [Member]	'
Gross Unrealized Losses	'
Gross Unrealized Losses Less than 12 Consecutive Months	-37
Gross Unrealized Losses 12 Consecutive Months or Longer	-8
Fair Value	'
Fair Value Less than 12 Consecutive Months	12,948
Fair Value 12 Consecutive Months or Longer	$1,462

Marketable_Securities_Amortize

Marketable Securities (Amortized Cost and Estimated Fair Value of Marketable Securities by Contractual Maturity) (Details) (USD $)	Sep. 27, 2014	Dec. 28, 2013
In Thousands, unless otherwise specified
Cost	'	'
Due in one year or less	$151,537	'
Due after one year through five years	711,418	'
Due after five years through ten years	249,737	'
Due after ten years	446,676	'
Other (No contractual maturity dates)	68,539	'
Available-for-sale Debt Securities, Amortized Cost Basis	1,627,907	'
Estimated Fair Value	'	'
Due in one year or less	151,366	'
Due after one year through five years	707,308	'
Due after five years through ten years	244,345	'
Due after ten years	431,333	'
Other (No contractual maturity dates)	70,061	'
Estimated Fair Value (Net Carrying Amount)	$1,604,413	$1,651,968

Marketable_Securities_Addition

Marketable Securities (Additional information) (Details) (USD $)	9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014		Dec. 28, 2013
Gross Unrealized Losses-OTTI	($21,553)	[1]	($57,356)	[1]
Change In Treasury Bond Yield Description	'The decline was due to increases in the 10 Year Treasury Bond Yield during 2013, which caused market valuations of securities in our investment portfolios to decline.		'
Held To Maturity Securities Continuous Unrealized Loss Position Percentage	52.00%		'
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value, Total	1,188,838		1,153,765
Available For Sale Securities Continuous Unrealized Loss Position Amortization Cost	1,216,948		1,215,498
Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments	$6,557	[2]	$4,377	[2]
[1]	Represents impairment not related to credit for those investment securities that have been determined to be other-than-temporarily impaired.
[2]	Represents unrealized losses on investment securities that have not been determined to be other-than-temporarily impaired.

Share_Repurchase_Plan_Addition

Share Repurchase Plan (Additional information) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Feb. 15, 2013
Treasury Stock [Line Items]	'	'
Stock Repurchase Program, Authorized Amount	'	$300,000
Share repurchase program, shares repurchased	5,746	'
Share repurchase program, shares repurchased value	$300,000	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Changes in Accumulated Other Comprehensive Income) (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014		Sep. 28, 2013	Sep. 27, 2014		Sep. 28, 2013
Foreign Currency Translation Adjustment	'		'	'		'
Balance - beginning of period	$92,602		'	$85,363		'
Other comprehensive income before reclassification	-22,791		13,379	-15,552		-24,177
Amounts reclassified from accumulated other comprehensive income	0		'	0		'
Net current-period other comprehensive income	-22,791		'	-15,552		'
Balance - end of period	69,811		'	69,811		'
Gross Unrealized Losses on Available for Sale Securities OTTI	'		'	'		'
Balance - beginning of period	-21,739	[1]	'	-57,356	[1]	'
Other comprehensive income before reclassification	186	[1]	'	35,803	[1]	'
Amounts reclassified from accumulated other comprehensive income	0	[1]	'	0	[1]	'
Net current-period other comprehensive income	186	[1]	'	35,803	[1]	'
Balance - end of period	-21,553	[1]	'	-21,553	[1]	'
Net Unrealized Gains (Losses) on Available for Sale Securities Other	'		'	'		'
Balance - beginning of period	2,430	[2]	'	10,034	[2]	'
Other comprehensive income before reclassification	-3,400	[2]	'	-11,740	[2]	'
Amounts reclassified from accumulated other comprehensive income	-118	[2]	'	618	[2]	'
Net current-period other comprehensive income	-3,518	[2]	'	-11,122	[2]	'
Balance - end of period	-1,088	[2]	'	-1,088	[2]	'
Total	'		'	'		'
Balance - beginning of period	73,293		'	38,041		'
Other comprehensive income before reclassification	-26,005		'	8,511		'
Amounts reclassified from accumulated other comprehensive income	-118		'	618		'
Net current-period other comprehensive income	-26,123		'	9,129		'
Balance - end of period	$47,170		'	$47,170		'
[1]	Represents the change in impairment, not related to credit, for those investment securities that have been determined to be other-than-temporarily impaired.
[2]	Represents the change in unrealized gains/(losses) on investment securities that have not been determined to be other-than-temporarily impaired.

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Income (Reclassifications Out of AOCI) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 27, 2014	Sep. 28, 2013	Sep. 27, 2014	Sep. 28, 2013
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Other income (expense)	($2,842)	$9,051	$9,222	$47,458
Income tax (provision) benefit	-319,496	26,869	-369,882	-192
Unrealized Gains (Losses) On Available-For-Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Other income (expense)	177	'	-685	'
Income tax (provision) benefit	-59	'	67	'
Net of tax	$118	'	($618)	'