Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||||
Dec. 28, 2013 | Jun. 28, 2013 | Feb. 28, 2014 | Feb. 28, 2014 | Feb. 28, 2014 | |
Common Class A [Member] | Common Class B [Member] | Common Class C [Member] | |||
Entity Information [Line Items] | ' | ' | ' | ' | ' |
Entity Registrant Name | 'DIXIE GROUP INC | ' | ' | ' | ' |
Entity Central Index Key | '0000029332 | ' | ' | ' | ' |
Current Fiscal Year End Date | '--12-28 | ' | ' | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' | ' | ' |
Document Type | '10-K | ' | ' | ' | ' |
Document Period End Date | 28-Dec-13 | ' | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 12,453,166 | 866,875 | 0 |
Entity Well-Known Seasoned Issuer | 'No | ' | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' | ' |
Entity Public Float | ' | $88,645,594 | ' | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $255 | $491 |
Receivables, net | 44,063 | 32,469 |
Inventories | 93,667 | 72,245 |
Deferred income taxes | 6,622 | 5,615 |
Other current assets | 5,182 | 4,235 |
TOTAL CURRENT ASSETS | 149,789 | 115,055 |
PROPERTY, PLANT AND EQUIPMENT, NET | 74,485 | 69,483 |
OTHER ASSETS | 24,592 | 17,232 |
TOTAL ASSETS | 248,866 | 201,770 |
CURRENT LIABILITIES | ' | ' |
Accounts payable | 21,679 | 14,891 |
Accrued expenses | 26,202 | 19,147 |
Current portion of long-term debt | 6,229 | 4,059 |
TOTAL CURRENT LIABILITIES | 54,110 | 38,097 |
LONG-TERM DEBT | 101,759 | 80,166 |
DEFERRED INCOME TAXES | 4,072 | 3,824 |
OTHER LONG-TERM LIABILITIES | 18,154 | 15,637 |
TOTAL LIABILITIES | 178,095 | 137,724 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
STOCKHOLDERS' EQUITY | ' | ' |
Common Stock ($3 par value per share): Authorized 80,000,000 shares, issued and outstanding - 12,441,356 shares for 2013 and 12,173,961 shares for 2012 | 37,324 | 36,522 |
Class B Common Stock ($3 par value per share): Authorized 16,000,000 shares, issued and outstanding - 870,287 shares for 2013 and 952,784 shares for 2012 | 2,611 | 2,858 |
Additional paid-in capital | 137,170 | 136,744 |
Accumulated deficit | -106,550 | -111,840 |
Accumulated other comprehensive income (loss) | 216 | -238 |
TOTAL STOCKHOLDERS' EQUITY | 70,771 | 64,046 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $248,866 | $201,770 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
Common stock, par value | $3 | $3 |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, shares issued | 12,441,356 | 12,173,961 |
Class B Common stock, par value | $3 | $3 |
Class B Common stock, shares authorized | 16,000,000 | 16,000,000 |
Class B Common stock, shares issued | 870,287 | 952,784 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||
NET SALES | $345,066 | $266,372 | $270,110 | |||
Cost of sales | 259,427 | 201,000 | 204,604 | |||
GROSS PROFIT | 85,639 | 65,372 | 65,506 | |||
Selling and administrative expenses | 76,554 | 63,489 | 60,667 | |||
Other operating (income) expense, net | 494 | 68 | -266 | |||
Facility consolidation and severance expenses, net | 0 | 0 | -563 | |||
OPERATING INCOME | 8,591 | 1,815 | 5,668 | |||
Interest expense | 3,756 | 3,146 | 3,470 | |||
Other (income) expense, net | 26 | -277 | -75 | |||
Refinancing expenses | 94 | 0 | 317 | |||
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES | 4,715 | -1,054 | 1,956 | |||
Income tax provision (benefit) | -643 | -401 | 684 | |||
INCOME (LOSS) FROM CONTINUING OPERATIONS | 5,358 | -653 | 1,272 | |||
Loss from discontinued operations, net of tax | -68 | -274 | -286 | |||
NET INCOME (LOSS) | $5,290 | ($927) | $986 | |||
BASIC EARNINGS (LOSS) PER SHARE: | ' | ' | ' | |||
Continuing operations | $0.40 | ($0.05) | $0.10 | |||
Discontinued operations | ($0.01) | ($0.02) | ($0.02) | |||
Net income (loss) | $0.39 | ($0.07) | $0.08 | |||
BASIC SHARES OUTSTANDING | 12,737 | [1] | 12,638 | [1] | 12,585 | [1] |
DILUTED EARNINGS (LOSS) PER SHARE: | ' | ' | ' | |||
Continuing operations | $0.40 | ($0.05) | $0.10 | |||
Discontinued operations | ($0.01) | ($0.02) | ($0.02) | |||
Net income (loss) | $0.39 | ($0.07) | $0.08 | |||
DILUTED SHARES OUTSTANDING | 12,852 | [1],[2] | 12,638 | [1],[2] | 12,623 | [1],[2] |
Dividends Per Share: | ' | ' | ' | |||
Common Stock | $0 | $0 | $0 | |||
Class B Common Stock | $0 | $0 | $0 | |||
[1] | Includes Common and Class B Common shares, less shares held in treasury, in thousands. | |||||
[2] | Because their effects are anti-dilutive, shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock at the end of the relevant period, directors' stock performance units, and shares issuable on conversion of subordinated debentures into shares of Common Stock have been excluded. Aggregate shares excluded were 510 in 2013, 827 shares in 2012 and 1,337 shares in 2011. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
NET INCOME (LOSS) | $5,290 | ($927) | $986 |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX: | ' | ' | ' |
Unrealized gain (loss) on interest rate swaps | 236 | -476 | -412 |
Reclassification of loss into earnings from interest rate swaps | 176 | 98 | 268 |
Amortization of unrealized loss on dedesignated interest rate swaps | 98 | 289 | 93 |
Unrecognized net actuarial gain on postretirement benefit plans | 20 | 20 | 67 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans | -22 | -27 | -18 |
Reclassification of prior service credits into earnings from postretirement benefit plans | -54 | -54 | -55 |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | 454 | -150 | -57 |
COMPREHENSIVE INCOME (LOSS) | $5,744 | ($1,077) | $929 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Income (loss) from continuing operations | $5,358 | ($653) | $1,272 |
Loss from discontinued operations | -68 | -274 | -286 |
Net income (loss) | 5,290 | -927 | 986 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities, net of acquisitions: | ' | ' | ' |
Depreciation and amortization | 10,262 | 9,396 | 9,649 |
Provision (benefit) for deferred income taxes | -1,037 | -643 | -254 |
Net (gain) loss on property, plant and equipment disposals | 195 | -186 | 37 |
Stock-based compensation expense | 847 | 937 | 663 |
Excess tax benefits from stock-based compensation | -151 | 0 | 0 |
Write-off of deferred financing costs | 94 | 0 | 92 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables | -11,479 | -3,296 | 2,204 |
Inventories | -19,283 | -8,115 | -5,650 |
Other current assets | -878 | -2,506 | -313 |
Accounts payable and accrued expenses | 11,642 | 1,455 | -1,724 |
Other operating assets and liabilities | -1,423 | -827 | -636 |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | -5,921 | -4,712 | 5,054 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Net proceeds from sales of property, plant and equipment | 48 | 187 | 5 |
Purchase of property, plant and equipment | -11,438 | -3,386 | -6,740 |
Net cash paid in business acquisitions | -2,170 | -1,197 | 0 |
NET CASH USED IN INVESTING ACTIVITIES | -13,560 | -4,396 | -6,735 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Net payments on previous credit line | 0 | 0 | -30,503 |
Payments on previous term loan | 0 | 0 | -11,324 |
Net borrowings on current credit line | 25,152 | 7,316 | 52,806 |
Borrowings on current mortgage note payable | 0 | 0 | 11,063 |
Payments on current mortgage note payable | -10,141 | -737 | -185 |
Payments on previous mortgage note payable | 0 | 0 | -5,736 |
Payments on note payable related to acquisition | -852 | -161 | 0 |
Borrowings on equipment financing | 4,312 | 5,003 | 1,794 |
Payments on equipment financing | -1,212 | -1,293 | -2,660 |
Payments on capitalized leases | -688 | -204 | -360 |
Borrowings on notes payable | 2,429 | 795 | 733 |
Payments on notes payable | -851 | -746 | -609 |
Payments on subordinated indebtedness | 0 | 0 | -12,162 |
Change in outstanding checks in excess of cash | 1,350 | -205 | 366 |
Proceeds from stock option exercises | 190 | 0 | 0 |
Repurchases of Common Stock | -207 | -199 | -131 |
Excess tax benefits from stock-based compensation | 151 | 0 | 0 |
Payments for debt issuance costs | -388 | -268 | -1,357 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 19,245 | 9,301 | 1,735 |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | -236 | 193 | 54 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 491 | 298 | 244 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 255 | 491 | 298 |
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ' | ' | ' |
Equipment purchased under capital leases | 1,865 | 666 | 14 |
Fair value of assets acquired in acquisitions | 8,062 | 9,184 | 0 |
Liabilities assumed in acquisitions | -836 | -42 | 0 |
Note payable related to acquisition | -3,749 | -5,500 | 0 |
Accrued consideration related to acquisition | ($1,307) | ($2,445) | $0 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Class A [Member] | Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | ||||||
Stockholders' Equity Attributable to Parent at Dec. 25, 2010 | $62,430 | $35,926 | $2,603 | $135,831 | ($111,899) | ($31) |
Repurchases of Common Stock | -131 | -87 | 0 | -44 | 0 | 0 |
Restricted stock grants issued | 0 | 211 | 63 | -274 | 0 | 0 |
Class B converted into Common Stock | 0 | 18 | -18 | 0 | 0 | 0 |
Stock-based compensation expense | 663 | 0 | 0 | 663 | 0 | 0 |
Reclassification of deferred compensation on Directors' stock | 494 | 0 | 0 | 494 | 0 | 0 |
Net income (loss) | 986 | 0 | 0 | 0 | 986 | 0 |
Other comprehensive income (loss) | -57 | 0 | 0 | 0 | 0 | -57 |
Stockholders' Equity Attributable to Parent at Dec. 31, 2011 | 64,385 | 36,068 | 2,648 | 136,670 | -110,913 | -88 |
Repurchases of Common Stock | -199 | -151 | 0 | -48 | 0 | 0 |
Restricted stock grants issued | 0 | 609 | 258 | -867 | 0 | 0 |
Restricted stock grants forfeited | 0 | -52 | 0 | 52 | 0 | 0 |
Class B converted into Common Stock | 0 | 48 | -48 | 0 | 0 | 0 |
Stock-based compensation expense | 937 | 0 | 0 | 937 | 0 | 0 |
Net income (loss) | -927 | 0 | 0 | 0 | -927 | 0 |
Other comprehensive income (loss) | -150 | 0 | 0 | 0 | 0 | -150 |
Stockholders' Equity Attributable to Parent at Dec. 29, 2012 | 64,046 | 36,522 | 2,858 | 136,744 | -111,840 | -238 |
Common Stock issued | 190 | 151 | 0 | 39 | 0 | 0 |
Repurchases of Common Stock | -207 | -116 | 0 | -91 | 0 | 0 |
Restricted stock grants issued | 0 | 346 | 174 | -520 | 0 | 0 |
Class B converted into Common Stock | 0 | 421 | -421 | 0 | 0 | 0 |
Stock-based compensation expense | 847 | 0 | 0 | 847 | 0 | 0 |
Excess tax benefits from stock-based compensation | 151 | 0 | 0 | 151 | 0 | 0 |
Net income (loss) | 5,290 | 0 | 0 | 0 | 5,290 | 0 |
Other comprehensive income (loss) | 454 | 0 | 0 | 0 | 0 | 454 |
Stockholders' Equity Attributable to Parent at Dec. 28, 2013 | $70,771 | $37,324 | $2,611 | $137,170 | ($106,550) | $216 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity Parentheticals | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Stock Issued During Period, Shares, New Issues | 50,464 | 0 | 0 |
Shares of Common Stock repurchased | 38,815 | 50,444 | 29,069 |
Shares of Restricted Stock issued | 173,249 | 289,233 | 91,340 |
Shares of Restricted Stock forfeited | 0 | 17,229 | 0 |
Shares of Class B Common Stock converted into Class A Common Stock | 140,477 | 15,925 | 6,197 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Business | |
The Company's businesses consists principally of marketing, manufacturing and selling finished carpet and rugs. The Company has one reportable segment, carpet and rug manufacturing. The Company sells carpet and rug products in both residential and commercial applications. Additionally, the Company provides manufacturing support to its carpet businesses through its separate processing operations. | |
Principles of Consolidation | |
The Consolidated Financial Statements include the accounts of The Dixie Group, Inc. and its wholly-owned subsidiaries (the "Company"). Significant intercompany accounts and transactions have been eliminated in consolidation. | |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and these differences could be material. | |
Fiscal Year | |
The Company ends its fiscal year on the last Saturday of December. All references herein to "2013," "2012," and "2011," mean the fiscal years ended December 28, 2013, December 29, 2012, and December 31, 2011, respectively. The year 2011 contained 53 weeks, all other years presented contained 52 weeks. | |
Reclassifications | |
The Company reclassified certain amounts in 2012 and 2011 to conform to the 2013 presentation. | |
Discontinued Operations | |
The financial statements separately report discontinued operations and the results of continuing operations (See Note 20). Disclosures included herein pertain to the Company's continuing operations unless noted otherwise. | |
Cash and Cash Equivalents | |
Highly liquid investments with original maturities of three months or less when purchased are reported as cash equivalents. | |
Market Risk | |
The Company sells carpet to floorcovering retailers, the interior design, architectural and specifier communities and supplies carpet yarn and carpet dyeing and finishing services to certain manufacturers. The Company's customers are located principally throughout the United States. One customer accounted for, as a percentage of net sales, approximately 13% in 2013, 9% in 2012 and 12% in 2011. No other customer accounted for more than 10% of net sales in 2013, 2012 or 2011, nor did the Company make a significant amount of sales to foreign countries during 2013, 2012 or 2011. | |
Credit Risk | |
The Company grants credit to its customers with defined payment terms, performs ongoing evaluations of the credit worthiness of its customers and generally does not require collateral. Accounts receivable are carried at their outstanding principal amounts, less an anticipated amount for discounts and an allowance for doubtful accounts, which management believes is sufficient to cover potential credit losses based on historical experience and periodic evaluation of the financial condition of the Company's customers. Notes receivable are carried at their outstanding principal amounts, less an allowance for doubtful accounts to cover potential credit losses based on the financial condition of borrowers and collateral held by the Company. | |
Inventories | |
Inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out (LIFO) method, which generally matches current costs of inventory sold with current revenues, for substantially all inventories. | |
Property, Plant and Equipment | |
Property, plant and equipment is stated at the lower of cost or impaired value. Provisions for depreciation and amortization of property, plant and equipment have been computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets, ranging from 10 to 40 years for buildings and improvements, and 3 to 10 years for machinery and equipment. Costs to repair and maintain the Company's equipment and facilities are expensed as incurred. Such costs typically include expenditures to maintain equipment and facilities in good repair and proper working condition. | |
Impairment of Long-Lived Assets | |
Long-lived assets are reviewed for impairment when circumstances indicate that the carrying value of an asset may not be fully recoverable. When the carrying value of the asset exceeds the value of its estimated undiscounted future cash flows, an impairment charge is recognized equal to the difference between the asset's carrying value and its fair value. Fair value is estimated using discounted cash flows, prices for similar assets or other valuation techniques. | |
Goodwill and Other Intangible Assets | |
Goodwill represents the excess of purchase price over the fair market value of identified net assets acquired in business combinations. The Company's goodwill is tested for impairment annually in the fourth quarter of each year or more frequently if events or circumstances indicate that the carrying value of goodwill associated with a reporting unit may not be fully recoverable. | |
The first step in the goodwill assessment process is to identify potential goodwill impairments and involves a comparison of the carrying value of a reporting unit, including goodwill, to the fair value of the reporting unit. The Company has identified its reporting units as its residential floorcovering business and commercial floorcovering business. For this purpose, the Company estimates fair value of the reporting unit based on expected current and future cash flows discounted at the Company's weighted-average cost of capital ("WACC"). Such an estimate necessarily involves judgments and assumptions concerning, among other matters, future sales and operating margins, as well as interest rates and other financial factors used to calculate the WACC. | |
If an impairment is indicated in the first step of the assessment, a second step in the assessment is performed by comparing the "implied fair value" of the Company's reporting units' goodwill with the carrying value of the reporting units' goodwill. For this purpose, the "implied fair value" of goodwill for each reporting unit that has goodwill associated with its operations is determined in the same manner as the amount of goodwill is determined in a business combination. (See Note 6). | |
Identifiable intangible assets with finite lives are generally amortized on a straight-line basis over their respective lives, which range from 10 to 20 years. | |
Customer Claims and Product Warranties | |
The Company generally provides product warranties related to manufacturing defects and specific performance standards for its products. At the time sales are recorded, the Company records reserves for the estimated costs of defective products and failure of its products to meet applicable performance standards. The level of reserves the Company establishes is based primarily upon historical experience, including the level of sales and evaluation of pending claims. | |
Self-Insured Benefit Programs | |
The Company records liabilities to reflect an estimate of the ultimate cost of claims related to its self-insured medical and dental benefits and workers' compensation. The amounts of such liabilities are based on an analysis of the Company's historical experience for each type of claim. | |
Income Taxes | |
The Company recognizes deferred income tax assets and liabilities for the future tax consequences of the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company recognizes interest and penalties related to uncertain tax positions, if any, in income tax expense. | |
Derivative Financial Instruments | |
The Company does not hold speculative financial instruments, nor does it hold or issue financial instruments for trading purposes. The Company uses derivative instruments, currently interest rate swaps, to minimize interest rate volatility. | |
The Company recognizes all derivatives on its Consolidated Balance Sheet at fair value. Derivatives that are designated as cash flow hedges are linked to specific liabilities on the Company's balance sheet. The Company assesses, both at inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. When it is determined that a derivative is not highly effective or the derivative expires, is sold, terminated, or exercised, the Company discontinues hedge accounting for that specific hedge instrument. Changes in the fair value of effective cash flow hedges are deferred in accumulated other comprehensive income (loss) ("AOCIL") and reclassified to earnings in the same periods during which the hedge transaction affects earnings. Changes in the fair value of derivatives that are not effective cash flow hedges are recognized in income. | |
Treasury Stock | |
The Company classifies treasury stock as a reduction to Common Stock for the par value of such shares acquired and the difference between the par value and the price paid for each share recorded either entirely to retained earnings or to additional paid-in-capital for periods in which the Company does not have retained earnings. This presentation reflects the repurchased shares as authorized but unissued as prescribed by state statute. | |
Revenue Recognition | |
Revenues, including shipping and handling amounts, are recognized when the following criteria are met: there is persuasive evidence that a sales agreement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title to the goods and assumes the risks and rewards of ownership, which is generally on the date of shipment. At the time revenue is recognized, the Company records a provision for the estimated amount of future returns based primarily on historical experience and any known trends or conditions that exist at the time revenue is recognized. Revenues are recorded net of taxes collected from customers. | |
Advertising Costs and Vendor Consideration | |
The Company engages in promotional and advertising programs that include rebates, discounts, points and cooperative advertising programs. Expenses relating to these programs are charged to earnings during the period of the related benefits. These arrangements do not require significant estimates of costs. Substantially all such expenses are recorded as a deduction from sales. The cost of cooperative advertising programs is recorded as selling and administrative expenses when the Company can identify a tangible benefit associated with the program, and can reasonably estimate that the fair value of the benefit is equal to or greater than its cost. The amount of advertising and promotion expenses included in selling and administrative expenses was not significant for the years 2013, 2012 or 2011. | |
Cost of Sales | |
Cost of sales includes all costs related to manufacturing the Company's products, including purchasing and receiving costs, inspection costs, warehousing costs, freight costs, internal transfer costs or other costs of the Company's distribution network. | |
Selling and Administrative Expenses | |
Selling and administrative expenses include all costs, not included in cost of sales, related to the sale and marketing of the Company's products and general administration of the Company's business. | |
Operating Leases | |
Rent is expensed over the lease period, including the effect of any rent holiday and rent escalation provisions, which effectively amortizes the rent holidays and rent escalations on a straight-line basis over the lease period. Leasehold improvements are amortized over the shorter of their economic lives or the lease term, excluding renewal options. Any leasehold improvement made by the Company and funded by the lessor is treated as a leasehold improvement and amortized over the shorter of its economic life or the lease term. Any funding provided by the lessor for such improvements is treated as deferred costs and amortized over the lease period. | |
Stock-Based Compensation | |
The Company recognizes compensation expense relating to share-based payments based on the fair value of the equity or liability instrument issued. Restricted stock grants with pro-rata vesting are expensed using the straight-line method. (Terms of the Company's awards are specified in Note 15). | |
Recent Accounting Pronouncements | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 requires the Company to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, the Company is required to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. Since the new standard did not change the current requirements for reporting net income or other comprehensive income in the financial statements, the adoption of this ASU did not have a material effect on the Company's Consolidated Financial Statements. | |
In December 2011, the FASB issued ASU No. 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities.” The amendments in this ASU require an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. An entity is required to apply the amendments for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. In January 2013, the FASB issued ASU No. 2013-01, "Balance Sheet (Topic 210)—Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities". The ASU clarifies that ordinary trade receivables and payables are not in the scope of ASU No. 2011-11. ASU No. 2011-11 applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in the Codification or subject to a master netting arrangement or similar agreement. The effective date is the same as the effective date of ASU 2011-11. The Company does not expect that the adoption of these ASUs will have a material effect on the Company's Consolidated Financial Statements. | |
In July 2012, the FASB issued ASU No. 2012-02, "Intangibles--Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment." This ASU states that an entity has the option first to assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount in accordance with Codification Subtopic 350-30, "Intangibles--Goodwill and Other, General Intangibles Other than Goodwill." Under the guidance in this ASU, an entity also has the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to performing the quantitative impairment test. An entity will be able to resume performing the qualitative assessment in any subsequent period. The amendments in this ASU are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this ASU did not have a a material effect on the Company’s Consolidated Financial Statements. | |
In February 2013, the FASB issued ASU No. 2013-04, "Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date". This ASU provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. For public entities, the ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The ASU shall be applied retrospectively to all prior periods presented for those obligations within the scope of this Subtopic that exist at the beginning of an entity's fiscal year of adoption. Early adoption is permitted. The Company does not expect that the adoption of this ASU will have a material effect on the Company's Consolidated Financial Statements. | |
In July 2013, the FASB issued ASU No. 2013-10, "Derivatives and Hedging (Topic 815) - Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes". This ASU allows the use of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a benchmark interest rate for hedge accounting purposes in addition to interest rates on direct Treasury obligations of the United States government and LIBOR. In addition, the ASU removes the restriction on using different benchmark rates for similar hedges. The ASU became effective on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this ASU did not have a material effect on the Company's Consolidated Financial Statements. | |
In July 2013, the FASB issued ASU No. 2013-11, "Income Taxes (Topic 740) - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists". This ASU requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to 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, except to the extent that a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date, the unrecognized tax benefit should be presented in the financial statements as a liability and not combined with deferred tax assets. This ASU is effective for annual and interim periods beginning after December 15, 2013, with early adoption permitted. The Company does not expect that the adoption of this ASU will have a material effect on the Company's Consolidated Financial Statements. |
Receivables_Net
Receivables, Net | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Receivables [Abstract] | ' | |||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||
RECEIVABLES, NET | ||||||||
Receivables are summarized as follows: | ||||||||
2013 | 2012 | |||||||
Customers, trade | $ | 41,898 | $ | 31,043 | ||||
Other receivables | 2,306 | 1,642 | ||||||
Gross receivables | 44,204 | 32,685 | ||||||
Less allowance for doubtful accounts | (141 | ) | (216 | ) | ||||
Net receivables | $ | 44,063 | $ | 32,469 | ||||
Inventories
Inventories | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventory Disclosure [Text Block] | ' | |||||||
INVENTORIES | ||||||||
Inventories are summarized as follows: | ||||||||
2013 | 2012 | |||||||
Raw materials | $ | 31,864 | $ | 23,002 | ||||
Work-in-process | 16,880 | 13,786 | ||||||
Finished goods | 57,983 | 49,251 | ||||||
Supplies, repair parts and other | 566 | 470 | ||||||
LIFO reserve | (13,626 | ) | (14,264 | ) | ||||
Total inventories | $ | 93,667 | $ | 72,245 | ||||
Property_Plant_and_Equipment_N
Property, Plant and Equipment, Net | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
PROPERTY, PLANT AND EQUIPMENT, NET | ||||||||
Property, plant and equipment consists of the following: | ||||||||
2013 | 2012 | |||||||
Land and improvements | $ | 7,231 | $ | 6,950 | ||||
Buildings and improvement | 50,627 | 50,293 | ||||||
Machinery and equipment | 149,040 | 137,432 | ||||||
206,898 | 194,675 | |||||||
Accumulated depreciation | (132,413 | ) | (125,192 | ) | ||||
Property, plant and equipment, net | $ | 74,485 | $ | 69,483 | ||||
Depreciation of property, plant and equipment, including amounts for capital leases, totaled $9,866 in 2013, $9,070 in 2012 and $9,417 in 2011. |
Acquisitions
Acquisitions | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Business Combinations [Abstract] | ' | |||
Business Combination Disclosure [Text Block] | ' | |||
ACQUISITIONS | ||||
2013 Acquisition | ||||
On June 30, 2013, the Company acquired Robertex Associates, Inc. ("Robertex") from Robert P. Rothman. The Company acquired all the outstanding shares of capital stock of Robertex for an aggregate purchase price of $7,334, which included cash, a seller-financed note and an accrued contingent liability. The seller-financed note consists of five annual payments of principal and interest. The accrued contingent liability is payable in five annual payments based upon incremental growth in gross margins of selected products for five years subsequent to the acquisition. The Company has incurred direct incremental costs of approximately $350 related to this acquisition. These incremental costs are classified in selling and administrative expenses in the Company's Consolidated Statements of Operations. | ||||
This acquisition is designed to increase the Company's market share in the wool markets it currently serves. Robertex produces wool floorcovering products under its Robertex and Carousel brands. | ||||
The purchase price consideration was as follows: | ||||
Cash paid | $ | 2,278 | ||
Seller-financed note | 3,749 | |||
Contingent consideration | 1,307 | |||
Total purchase price | $ | 7,334 | ||
The acquisition has been accounted for as a business combination which requires, among other things, that assets acquired and liabilities assumed to be recognized at their fair values as of the acquisition date. The acquisition did not represent a material business combination. The following table summarizes the estimates of fair values of the assets acquired and liabilities assumed as of June 30, 2013 based on the purchase price allocation. The components of the purchase price allocation consisted of the following: | ||||
Cash | $ | 108 | ||
Accounts receivable | 115 | |||
Inventory | 2,139 | |||
Other current assets | 14 | |||
Property, plant and equipment | 1,863 | |||
Definite-lived intangible assets | 2,222 | |||
Goodwill | 1,709 | |||
Accounts payable | (643 | ) | ||
Accrued expenses | (193 | ) | ||
Total purchase price | $ | 7,334 | ||
2012 Acquisitions | ||||
On November 2, 2012, the Company acquired a continuous carpet dyeing facility ("Colormaster") in Calhoun, Georgia from Lineage PCR, Inc. for $6,562 which included cash, a seller financed note and the fair value of a five-year below market agreement to process certain of the seller's products on a commission basis. The Company incurred direct, incremental costs of $269 related to the acquisition which were expensed as incurred and included in general and administrative expenses in the Company's Consolidated Financial Statements. With the acquisition of these continuous dyeing assets, the Company is moving a significant volume of its dyeing production from its more costly beck dyeing assets as well as develop future products that utilize the continuous dye process. | ||||
The purchase price consideration was as follows: | ||||
Cash paid | $ | 239 | ||
Seller-financed note | 5,500 | |||
Below-market supply contract | 823 | |||
Total purchase price | $ | 6,562 | ||
The acquisition has been accounted for as a business combination which requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The Company concluded that the acquisition did not represent a material business combination. The allocation of the purchase price was based on estimates of the fair value of the assets acquired as of November 2, 2012. The components of the purchase price allocation consisted of the following: | ||||
Property, plant and equipment | $ | 6,371 | ||
Inventory | 173 | |||
Supplies | 18 | |||
Purchase price | $ | 6,562 | ||
On November 28, 2012, the Company acquired the specialized wool rug tufting equipment and related business ("Crown Rug") from Crown Manufacturing, Inc. for $2,580 which included cash, deferred payments and an accrued contingent liability. The deferred payment is payable in three equal annual installments and the accrued contingent liability is three annual payments based on sales volumes each year. The Company incurred direct incremental costs of $49 related to this acquisition and is classified in general and administrative expenses in the Company's Consolidated Financial Statements. This acquisition was designed to move and utilize the acquired assets in the Company's facilities to meet internal requirements as well as to enter certain other markets not currently served by the Company. Prior to the acquisition of these assets from Crown Manufacturing, the Company's requirements for products comprised a significant portion of the related machinery capacity at Crown Manufacturing. | ||||
The purchase price consideration was as follows: | ||||
Cash paid | $ | 958 | ||
Deferred payments to seller | 471 | |||
Contingent consideration | 1,151 | |||
Total purchase price | $ | 2,580 | ||
The acquisition has been accounted for as a business combination which requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The Company concluded that the acquisition did not represent a material business combination. The allocation of the purchase price was based on estimates of the fair value of the assets acquired as of November 28, 2012. The components of the purchase price allocation consisted of the following: | ||||
Property, plant and equipment | $ | 590 | ||
Definite-lived intangible assets | 352 | |||
Goodwill | 1,680 | |||
Accrued payable | (42 | ) | ||
Purchase price | $ | 2,580 | ||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | |||||||||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||||||||||||||
The changes in the carrying amounts of goodwill for the years ended 2013 and 2012 are as follows: | ||||||||||||||||||||||||
Goodwill | Accumulated Impairment Losses | Net | ||||||||||||||||||||||
Balance at December 31, 2011 | $ | — | $ | — | $ | — | ||||||||||||||||||
Additional goodwill recognized during the period (1) | 1,680 | — | 1,680 | |||||||||||||||||||||
Impairment losses recognized during the period | — | — | — | |||||||||||||||||||||
Other changes in the carrying amounts during the period | — | — | — | |||||||||||||||||||||
Balance at December 29, 2012 | 1,680 | — | 1,680 | |||||||||||||||||||||
Additional goodwill recognized during the period (2) | 1,709 | — | 1,709 | |||||||||||||||||||||
Impairment losses recognized during the period | — | — | — | |||||||||||||||||||||
Other changes in the carrying amounts during the period | — | — | — | |||||||||||||||||||||
Balance at December 28, 2013 | $ | 3,389 | $ | — | $ | 3,389 | ||||||||||||||||||
(1) During 2012, the Company recorded goodwill related to the Crown Rug acquisition. | ||||||||||||||||||||||||
(2) During 2013, the Company recorded goodwill related to the Robertex acquisition. | ||||||||||||||||||||||||
The following table represents the details of the Company's intangible assets for years ended 2013 and 2012: | ||||||||||||||||||||||||
Intangible assets subject to amortization: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | |||||||||||||||||||
Customer relationships | $ | 1,062 | $ | (40 | ) | $ | 1,022 | $ | 208 | $ | — | $ | 208 | |||||||||||
Rug design coding | 144 | (14 | ) | 130 | 144 | — | 144 | |||||||||||||||||
Trade names | 1,368 | (34 | ) | 1,334 | — | — | — | |||||||||||||||||
Total | $ | 2,574 | $ | (88 | ) | $ | 2,486 | $ | 352 | $ | — | $ | 352 | |||||||||||
Amortization expense for intangible assets is summarized as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Customer relationships | $ | 40 | $ | — | $ | — | ||||||||||||||||||
Rug design coding | 14 | — | — | |||||||||||||||||||||
Trade names | 34 | — | — | |||||||||||||||||||||
Amortization expense | $ | 88 | $ | — | $ | — | ||||||||||||||||||
The estimated future amortization expense during each of the next five fiscal years is as follows: | ||||||||||||||||||||||||
Year | Amount | |||||||||||||||||||||||
2014 | $ | 146 | ||||||||||||||||||||||
2015 | 146 | |||||||||||||||||||||||
2016 | 146 | |||||||||||||||||||||||
2017 | 146 | |||||||||||||||||||||||
2018 | 146 | |||||||||||||||||||||||
Thereafter | 1,756 | |||||||||||||||||||||||
Accrued_Expenses
Accrued Expenses | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | |||||||
ACCRUED EXPENSES | ||||||||
Accrued expenses are summarized as follows: | ||||||||
2013 | 2012 | |||||||
Compensation and benefits (1) | $ | 8,233 | $ | 5,637 | ||||
Provision for customer rebates, claims and allowances | 6,202 | 4,389 | ||||||
Outstanding checks in excess of cash | 3,873 | 2,523 | ||||||
Other | 7,894 | 6,598 | ||||||
Total accrued expenses | $ | 26,202 | $ | 19,147 | ||||
-1 | Includes a liability related to the Company's self-insured Workers' Compensation program. This program is collateralized by letters of credit in the aggregate amount of $1,717. |
Product_Warranty_Reserves
Product Warranty Reserves | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||
Product Warranty Disclosure [Text Block] | ' | |||||||
PRODUCT WARRANTY RESERVES | ||||||||
The Company generally provides product warranties related to manufacturing defects and specific performance standards for its products. Product warranty reserves are included in accrued expenses in the Company's Consolidated Financial Statements. The following is a summary of the Company's product warranty activity. | ||||||||
2013 | 2012 | |||||||
Warranty reserve at beginning of year | $ | 1,297 | $ | 1,219 | ||||
Warranty liabilities accrued | 4,330 | 3,122 | ||||||
Warranty liabilities settled | (3,905 | ) | (3,118 | ) | ||||
Changes for pre-existing warranty liabilities | 128 | 74 | ||||||
Warranty reserve at end of year | $ | 1,850 | $ | 1,297 | ||||
LongTerm_Debt_and_Credit_Arran
Long-Term Debt and Credit Arrangements | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||
Long-term Debt [Text Block] | ' | |||||||||||
LONG-TERM DEBT AND CREDIT ARRANGEMENTS | ||||||||||||
Long-term debt consists of the following: | ||||||||||||
2013 | 2012 | |||||||||||
Revolving credit facility | $ | 85,274 | $ | 60,122 | ||||||||
Mortgage note payable | — | 10,141 | ||||||||||
Obligation to Development Authority of Gordon County | 4,447 | 5,339 | ||||||||||
Note payable - Robertex acquisition | 3,789 | — | ||||||||||
Equipment notes payable | 7,987 | 5,071 | ||||||||||
Notes payable | 2,210 | 632 | ||||||||||
Capital lease obligations | 4,281 | 2,920 | ||||||||||
Total long-term debt | 107,988 | 84,225 | ||||||||||
Less: current portion of long-term debt | (6,229 | ) | (4,059 | ) | ||||||||
Total long-term debt, less current portion | $ | 101,759 | $ | 80,166 | ||||||||
Revolving Credit Facility | ||||||||||||
Senior Credit Facility | ||||||||||||
On September 14, 2011, the Company entered into a five-year, secured revolving credit facility (the "senior credit facility"). The senior credit facility provided for a maximum of $90,000 of revolving credit, subject to borrowing base availability, including limited amounts of credit in the form of letters of credit and swingline loans. The borrowing base was equal to specified percentages of the Company's eligible accounts receivable, inventories and fixed assets less reserves established, from time to time, by the administrative agent under the senior credit facility. The Company can use the proceeds of the senior credit facility for general corporate purposes, including financing acquisitions and refinancing other indebtedness. | ||||||||||||
At the Company's election, revolving loans under the senior credit facility bore interest at annual rates equal to either (a) LIBOR for 1, 2 or 3 month periods, as selected by the Company, plus an applicable margin of either 2.00% or 2.25%, or (b) the higher of the prime rate, the Federal Funds rate plus 0.5%, or a daily LIBOR rate, plus an applicable margin of either 1.00% or 1.50%. The applicable margin was determined based on availability under the senior credit facility with margins increasing as availability decreases. The Company also paid an unused line fee on the average amount by which the aggregate commitments exceed utilization of the senior credit facility equal to 0.375% per annum. | ||||||||||||
The senior credit facility included certain affirmative and negative covenants that impose restrictions on the Company's financial and business operations, including limitations on debt, liens, investments, fundamental changes in the Company's business, asset dispositions, dividends and other similar restricted payments, transactions with affiliates, payments and modifications of certain existing debt, future negative pledges, and changes in the nature of the Company's business. The Company was also required to maintain a fixed charge coverage ratio of 1.1 to 1.0 during any period that borrowing availability was less than $10,000. | ||||||||||||
Amended Senior Credit Facility | ||||||||||||
As amended, the Company's senior credit facility ("amended senior credit facility") provides for a maximum of $130,000 of revolving credit, subject to borrowing base availability. The borrowing base is currently equal to specified percentages of the Company's eligible accounts receivable, inventories, fixed assets and real property less reserves established, from time to time, by the administrative agent under the facility. In addition, the term of the facility was extended to August 1, 2018. | ||||||||||||
At the Company's election, revolving loans under the amended senior credit facility bear interest at annual rates equal to either (a) LIBOR for 1, 2 or 3 month periods, as selected by the Company, plus an applicable margin of either 1.50%, 1.75% or 2.00%, or (b) the higher of the prime rate, the Federal Funds rate plus 0.5%, or a daily LIBOR rate plus 1.00%, plus an applicable margin of either 0.50%, 0.75% or 1.00%. The applicable margin is determined based on availability under the amended senior credit facility with margins increasing as availability decreases. The Company continues to pay an unused line fee on the average amount by which the aggregate commitments exceed utilization of the senior credit facility equal to 0.375% per annum. | ||||||||||||
The amended senior credit facility continues to include certain affirmative and negative covenants that impose restrictions on the Company's financial and business operations. The amended senior credit facility requires that Company maintain a fixed charge coverage ratio of 1.1 to 1.0 during any period that borrowing availability is less than $14,440. At December 28, 2013, the Company is in compliance with the amended senior credit facility's covenants. | ||||||||||||
Average Interest Rates and Availability | ||||||||||||
The weighted-average interest rate on borrowings outstanding under these facilities was 2.66% at December 28, 2013 and 3.59% at December 29, 2012. As of December 28, 2013, the unused borrowing availability under the amended senior credit facility was $32,618. | ||||||||||||
Mortgage Note Payable | ||||||||||||
On April 1, 2013, the Company terminated its five-year $11,063 mortgage loan which had a balance of $9,833. The mortgage loan was secured by the Company's Susan Street real estate and liens secondary to the senior credit facility. The mortgage loan was scheduled to mature on September 13, 2016. Prior to the termination, the mortgage loan bore interest at a variable rate equal to one month LIBOR plus 3.00% and was payable in equal monthly installments of principal of $61, plus interest calculated on the declining balance of the mortgage loan, with a final payment of $7,436 due on maturity. | ||||||||||||
Obligation to Development Authority of Gordon County | ||||||||||||
On November 2, 2012, the Company signed a 6.00% seller-financed note of $5,500 with Lineage PCR, Inc. (“Lineage”) related to the acquisition of the continuous carpet dyeing facility in Calhoun, Georgia. Effective December 28, 2012 through a series of agreements between the Company, the Development Authority of Gordon County, Georgia (the “Authority”) and Lineage, obligations with identical payment terms as the original note to Lineage are now payment obligations to the Authority. These transactions were consummated in order to provide a tax abatement to the Company related to the real estate and equipment at this facility. The tax abatement plan provides for abatement for certain components of the real and personal property taxes for up to ten years. At any time, the Company has the option to pay off the obligation, plus a nominal amount. The debt to the Authority bears interest at 6.00% and is payable in equal monthly installments of principal and interest of $106 over 57 months. | ||||||||||||
Note Payable - Robertex Acquisition | ||||||||||||
Only July 1, 2013, the Company signed a 4.50% seller-financed note of $4,000, which was recorded at a fair value of $3,749, with Robert P. Rothman related to the acquisition of Robertex Associates, LLC ("Robertex") in Calhoun, Georgia. The note is payable in five annual installments of principal of $800 plus interest. The note matures June 30, 2018. | ||||||||||||
Deferred Financing Costs and Refinancing Expenses | ||||||||||||
In connection with the amendments in 2013 and 2012, the Company incurred additional financing costs of $351 and $28, respectively, that are being amortized over the remaining term of the facility. In addition, the Company incurred $37 of financing costs related to an equipment note payable. Additionally in 2013, the Company recognized $94 of refinancing expenses related to the write-off of previously deferred financing costs related to the Company's mortgage note payable. During 2012, the Company incurred $187 in financing costs related to the obligations to the Authority that is being amortized over the term of the obligation. As a result of the refinancing in 2011, the Company paid $1,410 in financing cost that is being amortized over the term of the senior credit facility and the mortgage loan. Additionally in 2011, the Company recognized $317 of refinancing expenses of which $92 related to the write-off of previously deferred financing costs and $225 related to fees paid to 3rd parties in connection with the new senior credit facility and mortgage loan. | ||||||||||||
Equipment Notes Payable | ||||||||||||
The terms of the Company's equipment financing notes are as follows: | ||||||||||||
Instrument | Interest Rate | Term (Months) | Principal and Interest Payments | Frequency | Maturity Date | |||||||
Note Payable - Equipment | 6.85 | % | 84 | $ | 38 | Monthly | May 1, 2014 | |||||
Note Payable - Equipment | 7.72 | % | 48 | 2 | Monthly | June 1, 2014 | ||||||
Note Payable - Equipment | 2 | % | 60 | 38 | Monthly | August 1, 2016 | ||||||
Note Payable - Equipment | 5.94 | % | 75 | 41 | Monthly | February 1, 2019 | ||||||
Note Payable - Equipment | 1 | % | 84 | 18 | Monthly | June 14, 2020 | ||||||
Note Payable - Equipment | 6.84 | % | 60 | 3 | Monthly | July 1, 2018 | ||||||
Note Payable - Equipment | 6.86 | % | 60 | 49 | Monthly | October 1, 2018 | ||||||
In connection with certain of the equipment financing notes, the Company is required to maintain funds in a separate escrow account. At December 28, 2013 and December 29, 2012, the balances held were $1,401 and $2,048, respectively, and are included in other current assets on the Company’s consolidated balance sheets. The Company's equipment financing notes are secured by the specific equipment financed and do not contain any financial covenants. | ||||||||||||
Capital Lease Obligations | ||||||||||||
The terms of the Company's capitalized lease obligations are as follows: | ||||||||||||
Instrument | Interest Rate | Term (Months) | Principal and Interest Payments | Frequency | Maturity Date | |||||||
Capital Lease - Equipment | 7.04 | % | 84 | $ | 8 | Monthly | December 1, 2015 | |||||
Capital Lease - Equipment | 7.4 | % | 48 | 4 | Monthly | June 1, 2014 | ||||||
Capital Lease - Equipment | 2.9 | % | 60 | 11 | Monthly | August 1, 2017 | ||||||
Capital Lease - Equipment | 4.76 | % | 72 | 32 | Monthly | October 1, 2018 | ||||||
Capital Lease - Equipment | 5.74 | % | 56 | 2 | Monthly | October 1, 2017 | ||||||
Capital Lease - Equipment | 5.9 | % | 60 | 7 | Monthly | April 1, 2018 | ||||||
Capital Lease - Equipment | 5.75 | % | 60 | 7 | Monthly | July 1, 2018 | ||||||
Capital Lease - Equipment | 4.88 | % | 48 | 16 | Quarterly | April 1, 2017 | ||||||
Capital Lease - Equipment | 7.04 | % | 60 | 8 | Monthly | October 1, 2018 | ||||||
Capital Lease - Equipment | 5.1 | % | 60 | 3 | Monthly | November 1, 2018 | ||||||
The Company's capitalized lease obligations are secured by the specific equipment leased. | ||||||||||||
Convertible Subordinated Debentures | ||||||||||||
On October 5, 2011, the Company optionally redeemed all of the outstanding 7.00% convertible subordinated debentures pursuant to the provisions of the Indenture dated May 15, 1987. The debentures were originally set to mature on May 15, 2012. The redemption price of $9,925 represented 100% of the principal amount of the debentures plus accrued and unpaid interest. The principal balance at October 5, 2011 was $9,662. The debentures were convertible by their holders into shares of the Company's Common Stock at an effective conversion price of $32.20 per share. No holders exercised their right to convert their debentures into shares of our Common Stock. | ||||||||||||
Interest Payments and Debt Maturities | ||||||||||||
Interest payments for continuing operations were $3,067 in 2013, $2,795 in 2012, and $3,338 in 2011. Maturities of long-term debt for periods following December 28, 2013 are as follows: | ||||||||||||
Long-Term | Capital Leases | Total | ||||||||||
Debt | (See Note 17) | |||||||||||
2014 | $ | 5,392 | $ | 837 | $ | 6,229 | ||||||
2015 | 3,835 | 877 | 4,712 | |||||||||
2016 | 3,842 | 801 | 4,643 | |||||||||
2017 | 3,182 | 761 | 3,943 | |||||||||
2018 | 87,053 | 1,005 | 88,058 | |||||||||
Thereafter | 403 | — | 403 | |||||||||
Total | $ | 103,707 | $ | 4,281 | $ | 107,988 | ||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
Fair value is defined as the exchange value of an asset or a liability in an orderly transaction between market participants. The fair value guidance outlines a valuation framework and establishes a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and disclosures. The hierarchy consists of three levels as follows: | ||||||||||||||||
Level 1 - Quoted market prices in active markets for identical assets or liabilities as of the reported date; | ||||||||||||||||
Level 2 - Other than quoted market prices in active markets for identical assets or liabilities, quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and other than quoted prices for assets or liabilities and prices that are derived principally from or corroborated by market data by correlation or other means; and | ||||||||||||||||
Level 3 - Measurements using management's best estimate of fair value, where the determination of fair value requires significant management judgment or estimation. | ||||||||||||||||
The following table reflects the fair values of assets and liabilities measured and recognized at fair value on a recurring basis on the Company's Consolidated Balance Sheets as of December 28, 2013 and December 29, 2012: | ||||||||||||||||
2013 | 2012 | Fair Value Hierarchy Level | ||||||||||||||
Assets: | ||||||||||||||||
Rabbi trust (1) | $ | 14,242 | $ | 11,894 | Level 2 | |||||||||||
Interest rate swaps (2) | 556 | — | Level 2 | |||||||||||||
Liabilities: | ||||||||||||||||
Interest rate swaps (2) | $ | 813 | $ | 1,086 | Level 2 | |||||||||||
Deferred compensation plan (3) | 13,210 | 11,066 | Level 1 | |||||||||||||
Contingent consideration (4) | 2,751 | 1,928 | Level 3 | |||||||||||||
-1 | The Company maintains a rabbi trust that serves as an investment designed to offset its deferred compensation plan liability. The investment assets of the trust consist of life insurance policies for which the Company recognizes income or expense based upon changes in cash surrender value. | |||||||||||||||
-2 | The fair value of the interest rate swaps was obtained from external sources. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties. | |||||||||||||||
-3 | Senior management and other highly compensated associates may defer a specified percentage of their compensation into a non-qualified deferred compensation plan. Changes in the value of the deferred compensation under this plan is recognized each period based on the fair value of the underlying measurement funds. | |||||||||||||||
-4 | As a result of the Colormaster and Crown Rug acquisitions in 2012 and the Robertex acquisition in 2013, the Company recorded contingent consideration liabilities at fair value. These fair value measurements were based on calculations that utilize significant inputs not observable in the market including forecasted revenues, gross margins and discount rates and thus represent Level 3 measurements. These fair value measurements are directly impacted by the Company's estimates. Accordingly, if the estimates are higher or lower than the estimates within the fair value measurement, the Company would record additional charges or benefits, respectively, as appropriate. | |||||||||||||||
Changes in the fair value measurements using significant unobservable inputs (Level 3) during the years ending December 28, 2013 and December 29, 2012 were as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Beginning balance | $ | 1,928 | $ | — | ||||||||||||
Contingent consideration liabilities recorded at fair value at acquisition | 1,307 | 1,974 | ||||||||||||||
Fair value adjustments | (23 | ) | — | |||||||||||||
Settlements | (461 | ) | (46 | ) | ||||||||||||
Ending balance | $ | 2,751 | $ | 1,928 | ||||||||||||
There were no transfers of assets or liabilities between Level 1, Level 2 and Level 3 during 2013 or 2012. If any, the Company recognizes the transfers in or transfers out at the end of the reporting period. | ||||||||||||||||
The carrying amounts and estimated fair values of the Company's financial instruments are summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Financial assets: | ||||||||||||||||
Cash and cash equivalents | $ | 255 | $ | 255 | $ | 491 | $ | 491 | ||||||||
Notes receivable, including current portion | 282 | 282 | 307 | 307 | ||||||||||||
Interest rate swaps | 556 | 556 | — | — | ||||||||||||
Financial Liabilities: | ||||||||||||||||
Long-term debt and capital leases, including current portion | 107,988 | 101,752 | 84,225 | 80,174 | ||||||||||||
Interest rate swaps | 813 | 813 | 1,086 | 1,086 | ||||||||||||
The fair values of the Company's long-term debt and capital leases were estimated using market rates the Company believes would be available for similar types of financial instruments and represent level 2 measurements. The fair values of cash and cash equivalents and notes receivable approximate their carrying amounts due to the short-term nature of the financial instruments. |
Derivatives
Derivatives | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | |||||||||||
The Company's earnings, cash flows and financial position are exposed to market risks relating to interest rates. It is the Company's policy to minimize its exposure to adverse changes in interest rates and manage interest rate risks inherent in funding the Company with debt. The Company addresses this risk by maintaining a mix of fixed and floating rate debt and entering into interest rate swaps for a portion of its variable rate debt to minimize interest rate volatility. | ||||||||||||
The following is a summary of the Company's interest rate swaps as of December 28, 2013: | ||||||||||||
Type | Notional Amount | Effective Date | Fixed Rate | Variable Rate | ||||||||
Interest rate swap | $ | 10,000 | October 3, 2011 through September 1, 2016 | 1.33% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 10,000 | March 1, 2013 through September 1, 2016 | 1.62% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 5,000 | June 1, 2013 through September 1, 2016 | 1.70% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 25,000 | September 1, 2016 through September 1, 2021 | 3.11% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 25,000 | September 1, 2015 through September 1, 2021 | 3.30% | 1 Month LIBOR | |||||||
On September 14, 2011, the Company refinanced its senior revolving credit facility and entered into a new mortgage note payable. The Company had two interest rate swaps that were designated as cash flow hedges of the interest rate risk created by the variable interest rate paid on the revolving credit facility which matured on May 11, 2013 and the mortgage note payable which matured on April 1, 2013. At the time of refinancing, the Company simultaneously dedesignated and redesignated these swaps as cash flow hedges. At the time of the refinancing, the interest rate swaps had a negative fair value and were presented as accrued expenses and other liabilities on the Company's Consolidated Balance Sheets. The related accumulated other comprehensive loss of the swaps was frozen at the time of the refinancing and was amortized into interest expense through the maturity dates of the cash flow hedges. The accumulated loss had an unamortized balance of $779 and $0 at September 14, 2011 and December 28, 2013, respectively. The Company amortized $158, $467 and $150 of losses into earnings related to these two interest rate swaps during 2013, 2012 and 2011, respectively. | ||||||||||||
On September 14, 2011, the Company entered into two swaption agreements that permitted the Company to cancel two of the existing interest rate swaps at specified dates. The Company did not designate these swaptions as cash flow hedges; therefore, change in fair value related to these instruments were recognized into earnings. During 2012, the Company terminated the swaptions and received consideration of $285. | ||||||||||||
The following table summarizes the fair values of derivative instruments included in the Company's Consolidated Balance Sheets: | ||||||||||||
Location on Consolidated Balance Sheets | Fair Value | |||||||||||
2013 | 2012 | |||||||||||
Asset Derivatives: | ||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Interest rate swaps | Other Assets | $ | 556 | $ | — | |||||||
Derivatives not designated as hedging instruments: | ||||||||||||
Interest rate swaptions | Other Assets | — | — | |||||||||
Total Asset Derivatives | $ | 556 | $ | — | ||||||||
Liability Derivatives: | ||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Interest rate swaps, current portion | Accrued Expenses | $ | 328 | $ | 439 | |||||||
Interest rate swaps, long term portion | Other Long-Term Liabilities | 485 | 647 | |||||||||
Total Liability Derivatives | $ | 813 | $ | 1,086 | ||||||||
The following tables summarize the pre-tax impact of derivative instruments on the Company's financial statements: | ||||||||||||
Amount of Gain or (Loss) Recognized in AOCIL on the effective portion of the Derivative | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Cash flow hedges - interest rate swaps | $ | 381 | $ | (767 | ) | $ | (665 | ) | ||||
Amount of Gain or (Loss) Reclassified from AOCIL on the effective portion into Income (1)(2) | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Cash flow hedges - interest rate swaps | $ | (442 | ) | $ | (625 | ) | $ | (583 | ) | |||
Amount of Gain or (Loss) Recognized on the ineffective portion in Income on Derivative (3) | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Cash flow hedges - interest rate swaps | $ | — | $ | — | $ | — | ||||||
Amount of Gain or (Loss) Recognized in Income on Derivative (4) | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||
Interest rate swaptions | $ | — | $ | 87 | $ | 43 | ||||||
-1 | The amount of gain (loss) reclassified from AOCIL is included in interest expense on the Company's Consolidated Statements of Operations. | |||||||||||
-2 | The amount of loss expected to be reclassified from AOCIL into earnings during the next 12 months subsequent to fiscal 2013 is $328. | |||||||||||
-3 | The amount of gain (loss) recognized in income on the ineffective portion of interest rate swaps is included in other (income) expense, net on the Company's Consolidated Statements of Operations. | |||||||||||
-4 | The amount of gain (loss) recognized in income for derivatives not designated as hedging instruments is included in other (income) expense, net on the Company's Consolidated Statements of Operations. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | |||||||||||||||
EMPLOYEE BENEFIT PLANS | ||||||||||||||||
Defined Contribution Plans | ||||||||||||||||
The Company sponsors a 401(k) defined contribution plan that covers a significant portion, or approximately 82% of the Company's associates. This plan was modified in 2012 compared with prior years to include a mandatory Company match on the first 1% of participants' contributions. The Company matches the next 2% of participants' contributions if the Company meets prescribed earnings levels. The plan also provides for additional Company contributions above the 3% level if the Company attains certain additional performance targets. The Company elected not to match participants' contributions in 2011. Matching contribution expense for this 401(k) plan was $610 for 2013 and $247 for 2012. | ||||||||||||||||
Additionally, the Company sponsors a 401(k) defined contribution plan that covers those associates at one facility who are under a collective-bargaining agreement, or approximately 18% of the Company's associates. Under this plan, the Company generally matches participants' contributions, on a sliding scale, up to a maximum of 2.75% of the participant's earnings. Matching contribution expense for the collective-bargaining 401(k) plan was $86 in 2013, $78 in 2012 and $87 in 2011. | ||||||||||||||||
Non-Qualified Retirement Savings Plan | ||||||||||||||||
The Company sponsors a non-qualified retirement savings plan that allows eligible associates to defer a specified percentage of their compensation. The obligations owed to participants under this plan were $13,210 at December 28, 2013 and $11,066 at December 29, 2012 and are included in other long-term liabilities in the Company's Consolidated Balance Sheets. The obligations are unsecured general obligations of the Company and the participants have no right, interest or claim in the assets of the Company, except as unsecured general creditors. The Company utilizes a Rabbi Trust to hold, invest and reinvest deferrals and contributions under the plan. Amounts are invested in Company-owned life insurance in the Rabbi Trust and the cash surrender value of the policies was $14,242 at December 28, 2013 and $11,894 at December 29, 2012 and is included in other assets in the Company's Consolidated Balance Sheets. | ||||||||||||||||
Multi-Employer Pension Plan | ||||||||||||||||
The Company contributes to a multi-employer pension plan under the terms of a collective-bargaining agreement that covers its union-represented employees. These union-represented employees represented approximately 18% of the Company's total employees. The risks of participating in multi-employer plans are different from single-employer plans. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. If the Company chooses to stop participating in the multi-employer plan, the Company may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability. | ||||||||||||||||
The Company's participation in the multi-employer pension plan for 2013 is provided in the table below. The "EIN/Pension Plan Number" column provides the Employee Identification Number (EIN) and the three digit plan number. The most recent Pension Protection Act (PPA) zone status available in 2013 and 2012 is for the plan's year-end at 2012 and 2011, respectively. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates a plan for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. | ||||||||||||||||
Pension Fund | EIN/Pension Plan Number | Pension Protection Act Zone Status | FIP/RP Status Pending/Implemented (1) | Contributions (2) | Surcharge Imposed (1) | Expiration Date of Collective-Bargaining Agreement | ||||||||||
2013 | 2012 | 2013 | 2012 | 2011 | ||||||||||||
The Pension Plan of the National Retirement Fund | 13-6130178 - 001 | Red | Red | Implemented | $ | 279 | $ | 256 | $ | 292 | Yes | 6/8/14 | ||||
(1) The collective-bargaining agreement requires the Company to contribute to the plan at the rate of $0.37 per compensated hour for each covered employee during the life of the collective-bargaining agreement. The Company will make additional contributions, as mandated by law, in accordance with the agreed to schedule for the fund's 2010 Rehabilitation Plan. The Rehabilitation Plan was effective June 1, 2010 and requires a surcharge equal to $0.02 per hour (from $0.37 to $0.39) effective June 1, 2010 - May 31, 2011, a surcharge equal to $0.05 per hour (from $0.37 to $0.42) effective June 1, 2011 - May 31, 2012 a surcharge equal to $0.08 per hour (from $0.37 to $0.45) effective June 1, 2012 to May 31, 2013 and a surcharge equal to $0.10 per hour (from $0.37 to $0.47) effective June 1, 2013 to May 31, 2014. Based upon current employment and benefit levels, the Company's contributions to the multi-employer pension plan are expected to be approximately $284 for 2014. | ||||||||||||||||
(2) The Company's contributions to the plan do not represent more than 5% of the total contributions to the plan for the most recent plan year available. | ||||||||||||||||
Postretirement Plans | ||||||||||||||||
The Company sponsors a legacy postretirement benefit plan that provides life insurance to a limited number of associates as a result of a prior acquisition. The Company also sponsors a postretirement benefit plan that provides medical insurance for a limited number of associates who retired prior to January 1, 2003 and life insurance to a limited number of associates upon retirement. | ||||||||||||||||
Information about the benefit obligation and funded status of the Company's postretirement benefit plans is summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Change in benefit obligation: | ||||||||||||||||
Benefit obligation at beginning of year | $ | 694 | $ | 733 | ||||||||||||
Service cost | 7 | 7 | ||||||||||||||
Interest cost | 23 | 26 | ||||||||||||||
Participant contributions | 15 | 15 | ||||||||||||||
Actuarial gain | (137 | ) | (80 | ) | ||||||||||||
Benefits paid | (5 | ) | (11 | ) | ||||||||||||
Medicare Part D subsidy | 1 | 4 | ||||||||||||||
Benefit obligation at end of year | 598 | 694 | ||||||||||||||
Change in plan assets: | ||||||||||||||||
Fair value of plan assets at beginning of year | — | — | ||||||||||||||
Employer contributions | (11 | ) | (8 | ) | ||||||||||||
Participant contributions | 15 | 15 | ||||||||||||||
Benefits paid | (5 | ) | (11 | ) | ||||||||||||
Medicare Part D subsidy | 1 | 4 | ||||||||||||||
Fair value of plan assets at end of year | — | — | ||||||||||||||
Unfunded amount | $ | (598 | ) | $ | (694 | ) | ||||||||||
The balance sheet classification of the Company's liability for postretirement benefit plans is summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Accrued expenses | $ | 18 | $ | 17 | ||||||||||||
Other long-term liabilities | 580 | 677 | ||||||||||||||
Total liability | $ | 598 | $ | 694 | ||||||||||||
Benefits expected to be paid on behalf of associates for postretirement benefit plans during the period 2014 through 2023 are summarized as follows: | ||||||||||||||||
Years | Postretirement | |||||||||||||||
Plans | ||||||||||||||||
2014 | $ | 18 | ||||||||||||||
2015 | 18 | |||||||||||||||
2016 | 18 | |||||||||||||||
2017 | 18 | |||||||||||||||
2018 | 18 | |||||||||||||||
2019 - 2023 | 96 | |||||||||||||||
Assumptions used to determine benefit obligations of the Company's postretirement benefit plans are summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Weighted-average assumptions as of year-end: | ||||||||||||||||
Discount rate (benefit obligations) | 3.16 | % | 2.81 | % | ||||||||||||
Assumptions used and related effects of health care cost are summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Health care cost trend assumed for next year | 8 | % | 9 | % | ||||||||||||
Rate to which the cost trend is assumed to decline | 5 | % | 5 | % | ||||||||||||
Year that the rate reaches the ultimate trend rate | 2017 | 2017 | ||||||||||||||
The effect of a 1% change in the health care cost trend on the Company's postretirement benefit plans is summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
1% Increase | 1% Decrease | 1% Increase | 1% Decrease | |||||||||||||
Accumulated postretirement benefit obligation | $ | 4 | $ | (3 | ) | $ | 3 | $ | (3 | ) | ||||||
Components of net periodic benefit cost (credit) for all postretirement plans are summarized as follows: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 7 | $ | 7 | $ | 7 | ||||||||||
Interest cost | 23 | 26 | 33 | |||||||||||||
Amortization of prior service credits | (88 | ) | (88 | ) | (88 | ) | ||||||||||
Recognized net actuarial gains | (35 | ) | (45 | ) | (29 | ) | ||||||||||
Settlement gain | (105 | ) | (48 | ) | (12 | ) | ||||||||||
Net periodic benefit cost (credit) | $ | (198 | ) | $ | (148 | ) | $ | (89 | ) | |||||||
Pre-tax amounts included in AOCIL for the Company's postretirement benefit plans at 2013 are summarized as follows: | ||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||
Balance at 2013 | 2014 Expected Amortization | |||||||||||||||
Prior service credits | $ | (190 | ) | $ | (88 | ) | ||||||||||
Unrecognized actuarial gains | (397 | ) | (39 | ) | ||||||||||||
Totals | $ | (587 | ) | $ | (127 | ) |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Tax Disclosure [Text Block] | ' | |||||||||||
INCOME TAXES | ||||||||||||
The provision (benefit) for income taxes on income (loss) from continuing operations consists of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current | ||||||||||||
Federal | $ | 216 | $ | 154 | $ | 725 | ||||||
State | 178 | 88 | 213 | |||||||||
Total current | 394 | 242 | 938 | |||||||||
Deferred | ||||||||||||
Federal | (955 | ) | (592 | ) | (234 | ) | ||||||
State | (82 | ) | (51 | ) | (20 | ) | ||||||
Total deferred | (1,037 | ) | (643 | ) | (254 | ) | ||||||
Income tax provision (benefit) | $ | (643 | ) | $ | (401 | ) | $ | 684 | ||||
Differences between the provision (benefit) for income taxes and the amount computed by applying the statutory federal income tax rate to income (loss) from continuing operations before taxes are summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
Statutory rate applied to income (loss) from continuing operations before taxes | $ | 1,650 | $ | (369 | ) | $ | 684 | |||||
Plus state income taxes, net of federal tax effect | 96 | 24 | 130 | |||||||||
Total statutory provision (benefit) | 1,746 | (345 | ) | 814 | ||||||||
Increase (decrease) attributable to: | ||||||||||||
Nondeductible meals and entertainment | 112 | 88 | 83 | |||||||||
Domestic production activities deduction | (208 | ) | — | — | ||||||||
Federal tax credits | (1,326 | ) | — | (179 | ) | |||||||
Goodwill | 283 | — | — | |||||||||
Change in valuation allowance | (1,190 | ) | — | — | ||||||||
Non-taxable insurance proceeds | (71 | ) | — | (174 | ) | |||||||
Stock-based compensation | — | 14 | 61 | |||||||||
Other items | 11 | (158 | ) | 79 | ||||||||
Total tax provision (benefit) | $ | (643 | ) | $ | (401 | ) | $ | 684 | ||||
During 2013, the Company reversed $1,190 of previously established reserves related to state income tax loss carryforwards and state income tax credit carryforwards. The reversal of the reserves was based on a number of factors including current and future earnings assumptions by taxing jurisdiction. Additionally, 2013 included certain tax credits of approximately $520 related to 2009 - 2011 determined to be available for utilization and $304 of 2012 research and development tax credits that could not be recognized until the extension of the credit was approved by Congress in 2013. | ||||||||||||
The Company’s 2012 effective income tax benefit rate varied from statutory rates primarily as a result of adjustments to estimates used in the 2011 estimated tax calculations versus amounts used in the subsequent tax return filing for the 2011 period; net of the effects of permanent differences on the lower level of pre-tax earnings in the 2012 tax calculations. | ||||||||||||
During 2011, the Company agreed upon a settlement associated with an Internal Revenue Service audit for tax years 2004 through 2009. This settlement agreement resulted in a payable of approximately $1,300 related to certain temporary differences between the carrying amounts of assets for financial reporting purposes and the tax basis of those assets. Thus, the settlement agreement resulted in an increase in deferred tax assets and had no material impact on earnings. The settlement payment was paid in 2012. | ||||||||||||
Income tax payments, net of income tax refunds received for continuing and discontinued operations were $58 in 2013, $1,318 in 2012 and $97 in 2011. | ||||||||||||
Significant components of the Company's deferred tax assets and liabilities are as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Inventories | $ | 2,226 | $ | 2,324 | ||||||||
Retirement benefits | 3,408 | 3,464 | ||||||||||
Federal/State net operating losses | 2,936 | 3,221 | ||||||||||
Federal/State tax credit carryforwards | 1,740 | 2,111 | ||||||||||
Allowances for bad debts, claims and discounts | 2,527 | 1,845 | ||||||||||
Other | 5,279 | 5,497 | ||||||||||
Total deferred tax assets | 18,116 | 18,462 | ||||||||||
Valuation allowance | (3,748 | ) | (4,938 | ) | ||||||||
Net deferred tax assets | 14,368 | 13,524 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property, plant and equipment | 11,818 | 11,733 | ||||||||||
Total deferred tax liabilities | 11,818 | 11,733 | ||||||||||
Net deferred tax asset | $ | 2,550 | $ | 1,791 | ||||||||
Balance sheet classification: | 2013 | 2012 | ||||||||||
Current deferred tax assets | $ | 6,622 | $ | 5,615 | ||||||||
Non-current deferred tax liabilities | 4,072 | 3,824 | ||||||||||
Net deferred tax asset | $ | 2,550 | $ | 1,791 | ||||||||
At December 28, 2013, $2,936 of deferred tax assets related to approximately $67,222 of state tax net operating loss carryforwards and $1,740 state tax credit carryforwards were available to the Company that will expire in five to ten years. A valuation allowance of $3,748 is recorded to reflect the estimated amount of deferred tax assets that may not be realized during the carryforward periods. At December 28, 2013, the Company is in a net deferred tax asset position of $2,550. The Company performed an analysis related to the net deferred tax asset and believes that the net tax asset is recoverable in future periods. | ||||||||||||
Tax Uncertainties | ||||||||||||
The Company accounts for uncertainty in income tax positions according to FASB guidance relating to uncertain tax positions. Unrecognized tax benefits were $291 at December 28, 2013 and $5 at December 29, 2012. There were no significant interest or penalties accrued as of December 28, 2013 or December 29, 2012. The Company does not expect its unrecognized tax benefits to change significantly during the next twelve months. | ||||||||||||
The following is a summary of the change in the Company's unrecognized tax benefits: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 5 | $ | 16 | $ | 47 | ||||||
Additions based on tax positions taken during a prior period | 250 | — | — | |||||||||
Additions based on tax positions taken during a current period | 41 | — | — | |||||||||
Reductions related to settlement of tax matters | — | — | (17 | ) | ||||||||
Reductions related to a lapse of applicable statute of limitations | (5 | ) | (11 | ) | (14 | ) | ||||||
Balance at end of year | $ | 291 | $ | 5 | $ | 16 | ||||||
The Company and its subsidiaries are subject to United States federal income taxes, as well as income taxes in a number of state jurisdictions. The tax years subsequent to 2009 remain open to examination for U.S. federal income taxes. The majority of state jurisdictions remain open for tax years subsequent to 2009. A few state jurisdictions remain open to examination for tax years subsequent to 2008. |
Common_Stock_and_Earnings_Loss
Common Stock and Earnings (Loss) Per Share | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | |||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||
COMMON STOCK AND EARNINGS (LOSS) PER SHARE | ||||||||||||
Common & Preferred Stock | ||||||||||||
The Company's charter authorizes 80,000,000 shares of Common Stock with a $3 par value per share and 16,000,000 shares of Class B Common Stock with a $3 par value per share. Holders of Class B Common Stock have the right to twenty votes per share on matters that are submitted to Shareholders for approval and to dividends in an amount not greater than dividends declared and paid on Common Stock. Class B Common Stock is restricted as to transferability and may be converted into Common Stock on a one share for one share basis. The Company's charter also authorizes 200,000,000 shares of Class C Common Stock, $3 par value per share, and 16,000,000 shares of Preferred Stock. No shares of Class C Common Stock or Preferred Stock have been issued. | ||||||||||||
Earnings Per Share | ||||||||||||
The Company's unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are considered participating securities and should be included in the computation of earnings per share. For 2012, these participating securities were not included in the determination of EPS because to do so would be anti-dilutive. | ||||||||||||
The accounting guidance requires additional disclosure of EPS for common stock and unvested share-based payment awards, separately disclosing distributed and undistributed earnings. Undistributed earnings represent earnings that were available for distribution but were not distributed. Common stock and unvested share-based payment awards earn dividends equally. All earnings were undistributed in all periods presented. | ||||||||||||
The following table sets forth the computation of basic and diluted earnings (loss) per share from continuing operations: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic earnings (loss) per share: | ||||||||||||
Income (loss) from continuing operations | $ | 5,358 | $ | (653 | ) | $ | 1,272 | |||||
Less: Allocation of earnings to participating securities | (212 | ) | — | (31 | ) | |||||||
Income (loss) from continuing operations available to common shareholders - basic | $ | 5,146 | $ | (653 | ) | $ | 1,241 | |||||
Basic weighted-average shares outstanding (1) | 12,737 | 12,638 | 12,585 | |||||||||
Basic earnings (loss) per share - continuing operations | $ | 0.4 | $ | (0.05 | ) | $ | 0.1 | |||||
Diluted earnings (loss) per share: | ||||||||||||
Income (loss) from continuing operations available to common shareholders - basic | $ | 5,146 | $ | (653 | ) | $ | 1,241 | |||||
Add: Undistributed earnings reallocated to unvested shareholders | 2 | — | — | |||||||||
Income (loss) from continuing operations available to common shareholders - basic | $ | 5,148 | $ | (653 | ) | $ | 1,241 | |||||
Basic weighted-average shares outstanding (1) | 12,737 | 12,638 | 12,585 | |||||||||
Effect of dilutive securities: | ||||||||||||
Stock options (2) | 54 | — | 1 | |||||||||
Directors' stock performance units (2) | 61 | — | 37 | |||||||||
Diluted weighted-average shares outstanding (1)(2) | 12,852 | 12,638 | 12,623 | |||||||||
Diluted earnings (loss) per share - continuing operations | $ | 0.4 | $ | (0.05 | ) | $ | 0.1 | |||||
-1 | Includes Common and Class B Common shares, less shares held in treasury, in thousands. | |||||||||||
-2 | Because their effects are anti-dilutive, shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock at the end of the relevant period, directors' stock performance units, and shares issuable on conversion of subordinated debentures into shares of Common Stock have been excluded. Aggregate shares excluded were 510 in 2013, 827 shares in 2012 and 1,337 shares in 2011. |
Stock_Plans_and_Stock_Compensa
Stock Plans and Stock Compensation Expense | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Text Block] | ' | ||||||||||
STOCK PLANS AND STOCK COMPENSATION EXPENSE | |||||||||||
The Company recognizes compensation expense relating to share-based payments based on the fair value of the equity instrument issued and records such expense in selling and administrative expenses in the Company's Consolidated Financial Statements. The number of shares to be issued is determined by dividing the specified dollar value of the award by the market value per share on the grant date. Pursuant to a policy adopted by the Compensation Committee of the Board of Directors applicable to awards granted for years 2009 through 2013, $5.00 per share will be used as the market value per share to calculate the number of shares to be issued if the market value per share is less than $5.00 per share on the grant date. The Company's stock compensation expense was $847 for 2013, $937 for 2012 and $663 for 2011. | |||||||||||
2006 Stock Awards Plan | |||||||||||
On May 3, 2006, the Company's shareholders' approved and adopted the Company's 2006 Stock Awards Plan (the "2006 Plan") which provided for the issuance of up to 800,000 shares of Common Stock and/or Class B Common Stock as stock-based or stock-denominated awards to directors of the Company and to salaried employees of the Company and its participating subsidiaries. The 2006 Plan superseded and replaced The Dixie Group, Inc. Stock Incentive Plan (the "2000 Plan"), which was terminated with respect to the granting of new awards. Awards previously granted under the 2000 Plan will continue to be governed by the terms of that plan and will not be affected by its termination. | |||||||||||
On April 27, 2010, the Company's shareholders' approved the amendment and restatement of the 2006 Plan to increase the number of shares that may be issued under the plan from 800,000 to 1,300,000. | |||||||||||
On April 30, 2013, the Company's shareholders' approved the amendment of the 2006 Plan to increase the number of shares that may be issued under the plan from 1,300,000 to 1,800,000. | |||||||||||
Restricted Stock Awards | |||||||||||
Each executive officer has the opportunity to earn a Primary Long-Term Incentive Award of restricted stock and separately receive an award of restricted stock denominated as “Career Shares.” The number of shares issued, if any, is based on the market price of the Company’s Common Stock at the time of grant of the award, subject to a $5.00 per share minimum value. Primary Long-Term Incentive Awards vest over 3 years, and Career Shares vest when the participant becomes qualified to retire from the Company at 60 years of age and has retained the Career Shares for 2 years following the grant date. | |||||||||||
During 2013, the Company issued 173,249 shares of restricted stock to officers and other key employees. The grant-date fair value of the awards was $899, or $5.190 per share, and will be recognized as stock compensation expense over the vesting periods which range from 2 to 14 years from the date the awards were granted. Each award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. | |||||||||||
During 2012, the Company issued 241,233 shares of restricted stock to officers and other key employees. The grant-date fair value of the awards was $998, or $4.135 per share, and will be recognized as stock compensation expense over the vesting periods which range from 2 to 15 years from the date the awards were granted. Additionally, the Company issued 48,000 shares of restricted stock to certain key employees. The grant-date fair value of the awards was $156, or $3.255 per share, and will be recognized as stock compensation over a 4 year vesting period from the date the awards were granted. Each award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. | |||||||||||
During 2011, the Company granted 91,340 shares of restricted stock to officers and other key employees. The grant-date fair value of the awards was $417, or $4.565 per share, and will be recognized as stock compensation expense over the vesting periods which range from 2 to 16 years from the date the awards were granted. Each award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. | |||||||||||
During 2010, the Company granted 100,940 shares of restricted stock to officers and other key employees of the Company. The grant-date fair value of the awards was $266, or $2.635 per share, and will be recognized as stock compensation expense over the vesting periods which range from 2 to 17 years from the date the awards were granted. Each award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date. | |||||||||||
During 2009, the Company amended and restated a 125,000 share Restricted Stock Award ("award") originally granted to its Chief Executive Officer on June 6, 2006 with a seven year term. The fair value on the date of the original award was $1,556, or $12.45 per share, equivalent to 92% of the market value of a share of the Company's Common Stock. Such value was determined using a binomial model and will be expensed over the term of the award. Vesting of the shares is contingent on a 35% increase in the market value of the Company's Common Stock (the "Market Condition") prior to five years from the date of the original grant. Additionally, vesting of shares requires the Chief Executive Officer to meet a continued service condition during the term of the award with a two year minimum vesting period. Shares subject to the award vest pro rata annually after the Market Condition and minimum vesting period are met on the anniversary date of the award. The award was amended to extend the term by one year to June 6, 2014, and to extend the time during which the awards' market condition may be met by three years to June 6, 2014. The modification resulted in incremental stock compensation expense of $41 which is amortized over the awards' remaining vesting period. | |||||||||||
Restricted stock activity for the three years ended December 28, 2013 is summarized as follows: | |||||||||||
Number of Shares | Weighted-Average Grant-Date Fair Value | ||||||||||
Outstanding at December 25, 2010 | 301,179 | $ | 8.61 | ||||||||
Granted | 91,340 | 4.57 | |||||||||
Vested | (85,990 | ) | 6.51 | ||||||||
Forfeited | — | — | |||||||||
Outstanding at December 31, 2011 | 306,529 | 8 | |||||||||
Granted | 289,233 | 3.99 | |||||||||
Vested | (113,647 | ) | 4.2 | ||||||||
Forfeited | (17,229 | ) | 4.14 | ||||||||
Outstanding at December 29, 2012 | 464,886 | 6.57 | |||||||||
Granted | 173,249 | 5.19 | |||||||||
Vested | (112,336 | ) | 4.15 | ||||||||
Forfeited | — | — | |||||||||
Outstanding at December 28, 2013 | 525,799 | $ | 6.64 | ||||||||
As of December 28, 2013, unrecognized compensation cost related to unvested restricted stock was $1,260. That cost is expected to be recognized over a weighted-average period of 4.2 years. The total fair value of shares vested was approximately $669, $439 and $385 during the year 2013, 2012 and 2011, respectively. | |||||||||||
Stock Performance Units | |||||||||||
The Company's non-employee directors receive an annual retainer of $12 in cash and $12 in value of Stock Performance Units (subject to a $5.00 minimum per unit, for 2013, 2012 and 2011) under the Director's Stock Plan. The market value at the date of the grants in 2010 was above $5.00 per share; therefore, there was no reduction in the number of units issued. Units in 2012 and 2011 were reduced to reflect the $5.00 per share minimum. Upon retirement, the Company issues the number of shares of Common Stock equivalent to the number of Stock Performance Units held by non-employee directors at that time. As of December 28, 2013, 99,640 Stock Performance Units were outstanding under this plan. | |||||||||||
Stock Purchase Plan | |||||||||||
The Company has a stock purchase plan which authorizes 108,000 shares of Common Stock for purchase by supervisory associates at the market price prevailing at the time of purchase. At December 28, 2013, 27,480 shares remained available for issuance under the plan. Shares sold under this plan are held in escrow until paid for and are subject to repurchase agreements which give the Company a right of first refusal to purchase the shares if they are subsequently sold. No shares were sold under the plan in 2013, 2012 or 2011. | |||||||||||
Stock Options | |||||||||||
All stock options issued under the Company's 2000 Plan were exercisable generally at a cumulative rate of 25% per year after the second year from the date the options were granted. Options granted under the Company's 2006 Plan are exercisable for periods determined at the time the awards are granted. Effective 2009, the Company established a $5.00 minimum exercise price on all options granted. No options were granted during 2013, 2012 or 2011. | |||||||||||
The fair value of each option was estimated on the date of grant using the Black-Scholes model. Expected volatility was based on historical volatility of the Company's stock, calculated using the most recent period equal to the expected life of the options. The risk-free interest rate was based on the U.S. Treasury yield for a term equal to the expected life of the option at the time of grant. The Company uses historical exercise behavior data of similar employee groups to determine the expected life of options. | |||||||||||
Option activity for the three years ended December 28, 2013 is summarized as follows: | |||||||||||
Number of Shares | Weighted-Average Exercise Price | Weighted-Average Fair Value of Options Granted During the Year | |||||||||
Outstanding at December 25, 2010 | 786,728 | $ | 10.91 | $ | — | ||||||
Granted | — | — | — | ||||||||
Exercised | — | — | — | ||||||||
Forfeited | — | — | — | ||||||||
Outstanding at December 31, 2011 | 786,728 | 10.91 | — | ||||||||
Granted | — | — | — | ||||||||
Exercised | — | — | — | ||||||||
Forfeited | (89,321 | ) | 10.2 | — | |||||||
Outstanding at December 29, 2012 | 697,407 | 11 | — | ||||||||
Granted | — | — | — | ||||||||
Exercised | (37,052 | ) | 5.15 | — | |||||||
Forfeited | — | — | — | ||||||||
Outstanding at December 28, 2013 | 660,355 | $ | 11.33 | $ | — | ||||||
Options exercisable at: | |||||||||||
31-Dec-11 | 682,478 | $ | 11.81 | — | |||||||
29-Dec-12 | 638,407 | 11.56 | — | ||||||||
28-Dec-13 | 630,855 | 11.63 | — | ||||||||
The following table summarizes information about stock options at December 28, 2013: | |||||||||||
Options Outstanding | |||||||||||
Range of Exercise Prices | Number of Shares | Weighted-Average Remaining Contractual Life | Weighted-Average Exercise Price | ||||||||
$4.20 - $5.00 | 126,750 | 5.1 | years | $ | 4.93 | ||||||
$6.96 - $6.96 | 83,435 | 1.3 | years | 6.96 | |||||||
$11.85 - $17.58 | 450,170 | 1.4 | years | 13.94 | |||||||
$3.875 - $17.58 | 660,355 | 2.1 | years | $ | 11.33 | ||||||
Options Exercisable | |||||||||||
Range of Exercise Prices | Number of Shares | Weighted-Average Remaining Contractual Life | Weighted-Average Exercise Price | ||||||||
$4.20 - $5.00 | 97,250 | 4.8 | years | $ | 4.91 | ||||||
$6.96 - $6.96 | 83,435 | 1.3 | years | 6.96 | |||||||
$11.85 - $17.58 | 450,170 | 1.4 | years | 13.94 | |||||||
$3.875 - $17.58 | 630,855 | 1.9 | years | $ | 11.63 | ||||||
At December 28, 2013, the market value of all outstanding stock options exceeded their exercise price by $502 and the market value of exercisable stock options exceeded their exercise price by $293. At December 28, 2013, unrecognized compensation expense related to unvested stock options was $18 and is expected to be recognized over a weighted-average period of 0.9 years. |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Comprehensive Income Note [Text Block] | ' | |||||||||||
OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||
Components of other comprehensive income (loss) are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other comprehensive income (loss): | ||||||||||||
Unrealized gain (loss) on interest rate swaps: | ||||||||||||
Before income taxes | $ | 381 | $ | (767 | ) | $ | (665 | ) | ||||
Income taxes | 145 | (291 | ) | (253 | ) | |||||||
Net of taxes | 236 | (476 | ) | (412 | ) | |||||||
Reclassification of loss into earnings from interest rate swaps: | ||||||||||||
Before income taxes | 284 | 158 | 433 | |||||||||
Income taxes | 108 | 60 | 165 | |||||||||
Net of taxes | 176 | 98 | 268 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps: | ||||||||||||
Before income taxes | 158 | 467 | 150 | |||||||||
Income taxes | 60 | 178 | 57 | |||||||||
Net of taxes | 98 | 289 | 93 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans: | ||||||||||||
Before income taxes | 32 | 33 | 108 | |||||||||
Income taxes | 12 | 13 | 41 | |||||||||
Net of taxes | 20 | 20 | 67 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans: | ||||||||||||
Before income taxes | (35 | ) | (45 | ) | (29 | ) | ||||||
Income taxes | (13 | ) | (18 | ) | (11 | ) | ||||||
Net of taxes | (22 | ) | (27 | ) | (18 | ) | ||||||
Reclassification of prior service credits into earnings from postretirement benefit plans: | ||||||||||||
Before income taxes | (88 | ) | (88 | ) | (88 | ) | ||||||
Income taxes | (34 | ) | (34 | ) | (33 | ) | ||||||
Net of taxes | (54 | ) | (54 | ) | (55 | ) | ||||||
Other comprehensive income (loss) | $ | 454 | $ | (150 | ) | $ | (57 | ) | ||||
Components of accumulated other comprehensive income (loss), net of tax, are as follows: | ||||||||||||
Interest Rate Swaps | Post-Retirement Liabilities | Total | ||||||||||
Balance at December 25, 2010 | $ | (514 | ) | $ | 483 | $ | (31 | ) | ||||
Unrealized gain (loss) on interest rate swaps, net of tax of $253 | (412 | ) | — | (412 | ) | |||||||
Reclassification of loss into earnings from interest rate swaps, net of tax of $165 | 268 | — | 268 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps, net of tax of $57 | 93 | — | 93 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $41 | — | 67 | 67 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $11 | — | (18 | ) | (18 | ) | |||||||
Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $33 | — | (55 | ) | (55 | ) | |||||||
Balance at December 31, 2011 | (565 | ) | 477 | (88 | ) | |||||||
Unrealized gain (loss) on interest rate swaps, net of tax of $291 | (476 | ) | — | (476 | ) | |||||||
Reclassification of loss into earnings from interest rate swaps, net of tax of $60 | 98 | — | 98 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps, net of tax of $178 | 289 | — | 289 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $13 | — | 20 | 20 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $18 | — | (27 | ) | (27 | ) | |||||||
Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $34 | — | (54 | ) | (54 | ) | |||||||
Balance at December 29, 2012 | (654 | ) | 416 | (238 | ) | |||||||
Unrealized gain (loss) on interest rate swaps, net of tax of $145 | 236 | — | 236 | |||||||||
Reclassification of loss into earnings from interest rate swaps, net of tax of $108 | 176 | — | 176 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps, net of tax of $60 | 98 | — | 98 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $12 | — | 20 | 20 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $13 | — | (22 | ) | (22 | ) | |||||||
Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $34 | — | (54 | ) | (54 | ) | |||||||
Balance at December 28, 2013 | $ | (144 | ) | $ | 360 | $ | 216 | |||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments and Contingencies Disclosure [Text Block] | ' | |||||||
COMMITMENTS AND CONTINGENCIES | ||||||||
Commitments | ||||||||
The Company had purchase commitments of $11,619 at December 28, 2013, primarily related to machinery & equipment. At December 28, 2013, the Company has outstanding letters of credit of $3 which relate to commitments to foreign vendors. The Company enters into fixed-price contracts with suppliers to purchase natural gas to support certain manufacturing processes. The Company had contract purchases of $1,109 in 2013, $1,127 in 2012 and $1,438 in 2011. At December 28, 2013, the Company has commitments to purchase natural gas of $838 for 2014 and $304 for 2015. | ||||||||
The Company leases certain equipment under capital leases and certain buildings, machinery and equipment under operating leases. Commitments for minimum rentals under non-cancelable leases, including any applicable rent escalation clauses, are as follows: | ||||||||
Capital | Operating | |||||||
Leases | Leases | |||||||
2014 | $ | 1,040 | $ | 2,421 | ||||
2015 | 1,037 | 2,132 | ||||||
2016 | 919 | 1,898 | ||||||
2017 | 838 | 1,470 | ||||||
2018 | 1,037 | 1,067 | ||||||
Thereafter | — | 4,739 | ||||||
Total commitments | 4,871 | 13,727 | ||||||
Less amounts representing interest | (590 | ) | — | |||||
Total | $ | 4,281 | $ | 13,727 | ||||
During 2013, the Company entered into 10 year lease agreement to lease a warehouse in Adairsville, Georgia. The lease is estimated to begin on or about May 1, 2014. Base annual rent is initially set at $64 per month with escalating amounts over the lease term. Total base rent payable over the lease period is $7,976 which is included in the table above. The Company has two options to extend the term of the lease for an additional five year period. | ||||||||
The Company is party to an operating lease with a related party which was entered into as part of the Robertex acquisition in 2013. Rent paid to the related party during 2013 was $127. | ||||||||
Rental expense was approximately $2,434, $2,188 and $2,334 during the years 2013, 2012 and 2011, respectively. | ||||||||
Property, plant and equipment includes machinery and equipment under capital leases which have asset cost and accumulated depreciation of $5,390 and $914, respectively, at December 28, 2013, and $3,376 and $394, respectively, at December 29, 2012. | ||||||||
Contingencies | ||||||||
The Company assesses its exposure related to legal matters, including those pertaining to product liability, safety and health matters and other items that arise in the regular course of its business. If the Company determines that it is probable a loss has been incurred, the amount of the loss, or an amount within the range of loss, that can be reasonably estimated will be recorded. | ||||||||
Environmental Remediation | ||||||||
The Company accrues for losses associated with environmental remediation obligations when such losses are probable and estimable. Remediation obligations are accrued based on the latest available information and are recorded at undiscounted amounts. The Company regularly monitors the progress of environmental remediation. Should studies indicate that the cost of remediation has changed from the previous estimate, an adjustment to the liability would be recorded in the period in which such determination is made. (See Note 20) | ||||||||
Legal Proceedings | ||||||||
At December 28, 2013, the Company was a plaintiff in a lawsuit against a former raw material supplier. In its lawsuit, the Company alleges that the former supplier sold defective materials to the Company over a period of time, which, when applied to certain of the Company’s products, caused those products to become defective and unmerchantable in the ordinary course of the Company’s business. On January 31, 2014, the Company and the supplier settled its claim for $400. The difference in the amount previously recognized and the settlement amount was recorded in other operating (income) expense in 2013. |
Other_Income_Expense
Other (Income) Expense | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Other Income and Expenses [Abstract] | ' | |||||||||||
Other Income and Other Expense Disclosure [Text Block] | ' | |||||||||||
OTHER (INCOME) EXPENSE | ||||||||||||
Other operating (income) expense, net is summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other operating (income) expense, net: | ||||||||||||
Insurance proceeds (1) | $ | (202 | ) | $ | — | $ | (492 | ) | ||||
Loss on property, plant and equipment disposals | 195 | 1 | 37 | |||||||||
Retirement expenses | 154 | 201 | 371 | |||||||||
Contract settlement | 172 | — | — | |||||||||
Miscellaneous (income) expense | 175 | (134 | ) | (182 | ) | |||||||
Other operating (income) expense, net | $ | 494 | $ | 68 | $ | (266 | ) | |||||
-1 | The Company recognized settlement gains of $202 and $492 from company-owned insurance policies during 2013 and 2011, respectively. | |||||||||||
Other (income) expense, net is summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other (income) expense, net: | ||||||||||||
(Gain) loss on non-hedged swaptions | $ | — | $ | (87 | ) | $ | (43 | ) | ||||
Gain on sale of non-operating assets | — | (187 | ) | — | ||||||||
Miscellaneous (income) expense | 26 | (3 | ) | (32 | ) | |||||||
Other (income) expense, net | $ | 26 | $ | (277 | ) | $ | (75 | ) | ||||
Facility_Consolidation_and_Sev
Facility Consolidation and Severance Expenses, Net | 12 Months Ended | |||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | |||||||||||||||||||
FACILITY CONSOLIDATION AND SEVERANCE EXPENSES, NET | ||||||||||||||||||||
2008 Facilities Consolidation | ||||||||||||||||||||
In 2008 and 2009, in response to the difficult economic conditions, the Company consolidated certain manufacturing operations and ceased operating in a leased facility and made organizational changes to reduce staff and expenses throughout the Company ("2008 Facilities Consolidation"). Costs related to the facilities consolidation included equipment and inventory relocation, severance costs, employee relocation, asset impairments and costs associated with terminating a lease obligation. During 2011, the Company terminated a lease obligation and paid a termination fee of $700 resulting in a gain of $551 from the reduction of previously accrued estimates associated with this plan. Total costs to complete this restructuring plan were $7,410. There are no remaining costs to be incurred under this plan. | ||||||||||||||||||||
Total restructuring costs related to the 2008 Facilities Consolidation are summarized as follows: | ||||||||||||||||||||
Equipment and Inventory Relocation | Severance Pay and Employee Relocation | Asset Impairments | Lease Obligations | Total | ||||||||||||||||
Total expenses by activity | $ | 3,192 | $ | 1,095 | $ | 1,459 | $ | 1,664 | $ | 7,410 | ||||||||||
2009 Organization Restructuring | ||||||||||||||||||||
In 2009, the Company developed and implemented a plan to realign its organizational structure to combine its three residential carpet units into one business with three distinct brands ("2009 Organization Restructuring"). As a result, the Company's residential business is organized much like its commercial carpet business and more like the rest of the industry. Costs related to the organization realignment included severance costs, associate relocation expenses and costs related to the migration of certain computer applications necessary to support the realignment. During 2011, the Company had a reduction of expenses of $12 associated with this plan. Total costs to complete this restructuring plan were $1,450. There are no remaining costs to be incurred under this plan. | ||||||||||||||||||||
Total restructuring costs related to the 2009 Organization Restructuring are summarized as follows: | ||||||||||||||||||||
Severance Pay and Employee Relocation | Computer Systems Conversion Costs | Total | ||||||||||||||||||
Total expenses by activity | $ | 969 | $ | 481 | $ | 1,450 | ||||||||||||||
Expenses incurred under these plans are classified in "facility consolidation and severance (benefit) expense, net" in the Company's Consolidated Statements of Operations. |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Discontinued Operation, Income (Loss) from Discontinued Operation Disclosures [Abstract] | ' | |||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | |||||||||||
DISCONTINUED OPERATIONS | ||||||||||||
The Company has previously either sold or discontinued certain operations that are accounted for as "Discontinued Operations" under applicable accounting guidance. The Company has certain contingent obligations directly related to such operations, primarily related to self-insured workers' compensation and environmental liabilities. Costs related to these obligations for those businesses are classified as discontinued operations. Discontinued operations are summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Loss from discontinued operations: | ||||||||||||
Workers' compensation costs | $ | (23 | ) | $ | (143 | ) | $ | (237 | ) | |||
Environmental remediation costs | (74 | ) | (279 | ) | (196 | ) | ||||||
Loss from discontinued operations, before taxes | (97 | ) | (422 | ) | (433 | ) | ||||||
Income tax benefit | (29 | ) | (148 | ) | (147 | ) | ||||||
Loss from discontinued operations, net of tax | $ | (68 | ) | $ | (274 | ) | $ | (286 | ) | |||
Workers' Compensation | ||||||||||||
Undiscounted reserves are maintained for the self-insured workers' compensation obligations. These reserves are administered by a third party workers' compensation service provider under the supervision of Company personnel. Such reserves are reassessed on a quarterly basis. Pre-tax cost incurred for workers' compensation as a component of discontinued operations primarily represents a change in estimate for each period from unanticipated medical costs associated with the Company's obligations. | ||||||||||||
Environmental Remediation | ||||||||||||
Reserves for environmental remediation obligations are established on an undiscounted basis. The Company has ongoing obligations at five previously owned sites that were associated with its discontinued textile businesses. Each of these sites contains relatively low levels of ground or ground water contaminants. Each site has a Corrective Action Plan ("CAP") with the applicable authoritative state regulatory body responsible for oversight for environmental compliance and the Company contracts with third party qualified environmental specialists for related remediation, monitoring and reporting for each location. The CAP for four of these sites involves natural attenuation (degradation of the contaminants through naturally occurring events) over periods currently estimated at 10 to 20 years and the CAP on the remaining site involves a pump and treat remediation process, currently estimated to remediate over a period of 25 years. Additionally, the Company has an environmental liability related to the property of a facility and related business that was sold in 2004. The CAP, involving an oxidation-based remediation plan, was approved in 2010 and is currently estimated to remediate over a 7 year period beginning in 2010. The Company has an accrual for environmental remediation obligations of $1,830 and $1,838 as of December 28, 2013 and December 29, 2012, respectively. The liability established represents the Company's best estimate of possible loss and is the reasonable amount to which there is any meaningful degree of certainty given the periods of estimated remediation and the dollars applicable to such remediation for those periods. The actual timeline to remediate, and thus, the ultimate cost to complete such remediation through these remediation efforts, may differ significantly from our estimates. Pre-tax cost for environmental remediation obligations classified as discontinued operations were primarily a result of specific events requiring action and additional expense in each period. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 28, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
RELATED PARTY TRANSACTIONS | |
During 2013, the Company purchased a portion of its requirements for polyester fiber from Engineered Floors, an entity controlled by Robert E. Shaw. Mr. Shaw reported holding approximately 10% of the Company's Common Stock, which as of year-end represented approximately 4% of the total vote of all classes of the Company's Common Stock. Engineered Floors is the Company's principal supplier of polyester fiber and polyester broadloom carpet. Total purchases from Engineered Floors for 2013 and 2012 were approximately $12,000 and $8,000, respectively; or approximately 8% of the Company's external yarn and carpet purchases in 2013 and 2012. Purchases from Engineered Floors are based on market value, negotiated prices. The Company has no contractual arrangements or commitments with Mr. Shaw associated with its business relationship with Engineered Floors. Transactions with Engineered Floors were reviewed and approved by the Company's board of directors. | |
During 2013, the Company entered into a 10-year lease with the Rothman Family Partnership to lease a manufacturing facility as part of the Robertex acquisition. The Rothman Family Partnership includes Robert P. Rothman who is an associate of the Company. Rent paid to the Rothman Family Partnership during 2013 was $127. The lease was based on current market values for similar facilities. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 28, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
SUBSEQUENT EVENTS | |
Debt Amendment | |
On January 20, 2014, the Company entered into a Seventh Amendment to its senior credit facility to amend certain definitions to increase the other Permitted Purchase Money Indebtedness to an amount not to exceed $40,000. | |
Restructuring Plan | |
On January 20, 2014, the Company's Board of Directors approved a 2014 Warehousing/Distribution/Manufacturing Restructuring Plan intended to align the Company's warehousing, distribution and manufacturing to support its growth and manufacturing strategy. The plan is intended to create a better cost structure and improve distribution capabilities and customer service. The key element and first major step of this plan is the leasing and occupancy of a 292,000 square foot finished goods warehouse, cut-order and distribution facility in Adairsville, Georgia, such lease and occupancy to commence as of May 1, 2014. | |
The Company expects the plan to be substantially completed in the second quarter of the fiscal year ending December 26, 2015. The Company currently expects the implementation of this plan will result in total restructuring expenses of approximately $2,400, with approximately $1,300 such expenses during the fiscal year ending December 27, 2014 and approximately $1,100 such expenses during the fiscal year ending December 26, 2015, primarily consisting of moving and relocation expenses, information technology expenses and expenses relating to conversion and realignment of equipment. | |
Joint Venture | |
On February 10, 2014, the Company announced that it had signed a letter of intent to enter into a Joint Venture with Desso, NV, a Netherlands based Company, for the purpose of selling and distributing Hospitality floorcovering products in the United States market, and such other territories as the parties may determine from time to time. The Joint Venture is intended to build the company’s presence in the upscale Hospitality market by combining the parties’ sales forces and product offerings. Although the letter of intent is non-binding, the parties anticipate working quickly to develop a mutually acceptable Joint Venture structure designed to accomplish their goals. | |
At the same time, the parties announced that they had entered into a sales and distribution agreement that will permit the Company to be the exclusive distributor of certain of Desso’s high performance tile products and Desso to distribute the Company's products in Europe. This arrangement is conditioned upon, among other matters, achievement of certain sales levels pursuant to the sales and distribution agreement and the successful launch of the Hospitality Joint Venture. | |
Restricted Stock Grant | |
On March 12, 2014, the Company issued 101,315 shares of restricted stock to officers of the Company. The shares will vest over periods ranging from 2 to 13 years from the date of the awards were granted. Each award is subject to a continued service condition. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Consolidation, Policy [Policy Text Block] | ' |
Principles of Consolidation | |
The Consolidated Financial Statements include the accounts of The Dixie Group, Inc. and its wholly-owned subsidiaries (the "Company"). Significant intercompany accounts and transactions have been eliminated in consolidation. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates and these differences could be material. | |
Fiscal Period, Policy [Policy Text Block] | ' |
Fiscal Year | |
The Company ends its fiscal year on the last Saturday of December. All references herein to "2013," "2012," and "2011," mean the fiscal years ended December 28, 2013, December 29, 2012, and December 31, 2011, respectively. The year 2011 contained 53 weeks, all other years presented contained 52 weeks. | |
Reclassification, Policy [Policy Text Block] | ' |
Reclassifications | |
The Company reclassified certain amounts in 2012 and 2011 to conform to the 2013 presentation. | |
Discontinued Operations, Policy [Policy Text Block] | ' |
Discontinued Operations | |
The financial statements separately report discontinued operations and the results of continuing operations (See Note 20). Disclosures included herein pertain to the Company's continuing operations unless noted otherwise. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash and Cash Equivalents | |
Highly liquid investments with original maturities of three months or less when purchased are reported as cash equivalents. | |
Concentration Risk Disclosure [Text Block] | ' |
Market Risk | |
The Company sells carpet to floorcovering retailers, the interior design, architectural and specifier communities and supplies carpet yarn and carpet dyeing and finishing services to certain manufacturers. The Company's customers are located principally throughout the United States. One customer accounted for, as a percentage of net sales, approximately 13% in 2013, 9% in 2012 and 12% in 2011. No other customer accounted for more than 10% of net sales in 2013, 2012 or 2011, nor did the Company make a significant amount of sales to foreign countries during 2013, 2012 or 2011. | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' |
Credit Risk | |
The Company grants credit to its customers with defined payment terms, performs ongoing evaluations of the credit worthiness of its customers and generally does not require collateral. Accounts receivable are carried at their outstanding principal amounts, less an anticipated amount for discounts and an allowance for doubtful accounts, which management believes is sufficient to cover potential credit losses based on historical experience and periodic evaluation of the financial condition of the Company's customers. Notes receivable are carried at their outstanding principal amounts, less an allowance for doubtful accounts to cover potential credit losses based on the financial condition of borrowers and collateral held by the Company. | |
Inventory, Policy [Policy Text Block] | ' |
Inventories | |
Inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out (LIFO) method, which generally matches current costs of inventory sold with current revenues, for substantially all inventories. | |
Property, Plant and Equipment, Policy [Policy Text Block] | ' |
Property, Plant and Equipment | |
Property, plant and equipment is stated at the lower of cost or impaired value. Provisions for depreciation and amortization of property, plant and equipment have been computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets, ranging from 10 to 40 years for buildings and improvements, and 3 to 10 years for machinery and equipment. Costs to repair and maintain the Company's equipment and facilities are expensed as incurred. Such costs typically include expenditures to maintain equipment and facilities in good repair and proper working condition. | |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' |
Impairment of Long-Lived Assets | |
Long-lived assets are reviewed for impairment when circumstances indicate that the carrying value of an asset may not be fully recoverable. When the carrying value of the asset exceeds the value of its estimated undiscounted future cash flows, an impairment charge is recognized equal to the difference between the asset's carrying value and its fair value. Fair value is estimated using discounted cash flows, prices for similar assets or other valuation techniques. | |
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' |
Goodwill and Other Intangible Assets | |
Goodwill represents the excess of purchase price over the fair market value of identified net assets acquired in business combinations. The Company's goodwill is tested for impairment annually in the fourth quarter of each year or more frequently if events or circumstances indicate that the carrying value of goodwill associated with a reporting unit may not be fully recoverable. | |
The first step in the goodwill assessment process is to identify potential goodwill impairments and involves a comparison of the carrying value of a reporting unit, including goodwill, to the fair value of the reporting unit. The Company has identified its reporting units as its residential floorcovering business and commercial floorcovering business. For this purpose, the Company estimates fair value of the reporting unit based on expected current and future cash flows discounted at the Company's weighted-average cost of capital ("WACC"). Such an estimate necessarily involves judgments and assumptions concerning, among other matters, future sales and operating margins, as well as interest rates and other financial factors used to calculate the WACC. | |
If an impairment is indicated in the first step of the assessment, a second step in the assessment is performed by comparing the "implied fair value" of the Company's reporting units' goodwill with the carrying value of the reporting units' goodwill. For this purpose, the "implied fair value" of goodwill for each reporting unit that has goodwill associated with its operations is determined in the same manner as the amount of goodwill is determined in a business combination. (See Note 6). | |
Identifiable intangible assets with finite lives are generally amortized on a straight-line basis over their respective lives, which range from 10 to 20 years. | |
Standard Product Warranty, Policy [Policy Text Block] | ' |
Customer Claims and Product Warranties | |
The Company generally provides product warranties related to manufacturing defects and specific performance standards for its products. At the time sales are recorded, the Company records reserves for the estimated costs of defective products and failure of its products to meet applicable performance standards. The level of reserves the Company establishes is based primarily upon historical experience, including the level of sales and evaluation of pending claims. | |
Self Insurance Reserve [Policy Text Block] | ' |
Self-Insured Benefit Programs | |
The Company records liabilities to reflect an estimate of the ultimate cost of claims related to its self-insured medical and dental benefits and workers' compensation. The amounts of such liabilities are based on an analysis of the Company's historical experience for each type of claim. | |
Income Tax, Policy [Policy Text Block] | ' |
Income Taxes | |
The Company recognizes deferred income tax assets and liabilities for the future tax consequences of the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The Company recognizes interest and penalties related to uncertain tax positions, if any, in income tax expense. | |
Derivatives, Policy [Policy Text Block] | ' |
Derivative Financial Instruments | |
The Company does not hold speculative financial instruments, nor does it hold or issue financial instruments for trading purposes. The Company uses derivative instruments, currently interest rate swaps, to minimize interest rate volatility. | |
The Company recognizes all derivatives on its Consolidated Balance Sheet at fair value. Derivatives that are designated as cash flow hedges are linked to specific liabilities on the Company's balance sheet. The Company assesses, both at inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. When it is determined that a derivative is not highly effective or the derivative expires, is sold, terminated, or exercised, the Company discontinues hedge accounting for that specific hedge instrument. Changes in the fair value of effective cash flow hedges are deferred in accumulated other comprehensive income (loss) ("AOCIL") and reclassified to earnings in the same periods during which the hedge transaction affects earnings. Changes in the fair value of derivatives that are not effective cash flow hedges are recognized in income. | |
Stockholders' Equity, Policy [Policy Text Block] | ' |
Treasury Stock | |
The Company classifies treasury stock as a reduction to Common Stock for the par value of such shares acquired and the difference between the par value and the price paid for each share recorded either entirely to retained earnings or to additional paid-in-capital for periods in which the Company does not have retained earnings. This presentation reflects the repurchased shares as authorized but unissued as prescribed by state statute. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition | |
Revenues, including shipping and handling amounts, are recognized when the following criteria are met: there is persuasive evidence that a sales agreement exists, delivery has occurred or services have been rendered, the price to the buyer is fixed or determinable, and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title to the goods and assumes the risks and rewards of ownership, which is generally on the date of shipment. At the time revenue is recognized, the Company records a provision for the estimated amount of future returns based primarily on historical experience and any known trends or conditions that exist at the time revenue is recognized. Revenues are recorded net of taxes collected from customers. | |
Advertising Costs, Policy [Policy Text Block] | ' |
Advertising Costs and Vendor Consideration | |
The Company engages in promotional and advertising programs that include rebates, discounts, points and cooperative advertising programs. Expenses relating to these programs are charged to earnings during the period of the related benefits. These arrangements do not require significant estimates of costs. Substantially all such expenses are recorded as a deduction from sales. The cost of cooperative advertising programs is recorded as selling and administrative expenses when the Company can identify a tangible benefit associated with the program, and can reasonably estimate that the fair value of the benefit is equal to or greater than its cost. The amount of advertising and promotion expenses included in selling and administrative expenses was not significant for the years 2013, 2012 or 2011. | |
Cost of Sales, Policy [Policy Text Block] | ' |
Cost of Sales | |
Cost of sales includes all costs related to manufacturing the Company's products, including purchasing and receiving costs, inspection costs, warehousing costs, freight costs, internal transfer costs or other costs of the Company's distribution network. | |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | ' |
Selling and Administrative Expenses | |
Selling and administrative expenses include all costs, not included in cost of sales, related to the sale and marketing of the Company's products and general administration of the Company's business. | |
Lease, Policy [Policy Text Block] | ' |
Operating Leases | |
Rent is expensed over the lease period, including the effect of any rent holiday and rent escalation provisions, which effectively amortizes the rent holidays and rent escalations on a straight-line basis over the lease period. Leasehold improvements are amortized over the shorter of their economic lives or the lease term, excluding renewal options. Any leasehold improvement made by the Company and funded by the lessor is treated as a leasehold improvement and amortized over the shorter of its economic life or the lease term. Any funding provided by the lessor for such improvements is treated as deferred costs and amortized over the lease period. | |
Compensation Related Costs, Policy [Policy Text Block] | ' |
Stock-Based Compensation | |
The Company recognizes compensation expense relating to share-based payments based on the fair value of the equity or liability instrument issued. Restricted stock grants with pro-rata vesting are expensed using the straight-line method. (Terms of the Company's awards are specified in Note 15). | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recent Accounting Pronouncements | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 requires the Company to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, the Company is required to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2012. Since the new standard did not change the current requirements for reporting net income or other comprehensive income in the financial statements, the adoption of this ASU did not have a material effect on the Company's Consolidated Financial Statements. | |
In December 2011, the FASB issued ASU No. 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities.” The amendments in this ASU require an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. An entity is required to apply the amendments for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. In January 2013, the FASB issued ASU No. 2013-01, "Balance Sheet (Topic 210)—Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities". The ASU clarifies that ordinary trade receivables and payables are not in the scope of ASU No. 2011-11. ASU No. 2011-11 applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in the Codification or subject to a master netting arrangement or similar agreement. The effective date is the same as the effective date of ASU 2011-11. The Company does not expect that the adoption of these ASUs will have a material effect on the Company's Consolidated Financial Statements. | |
In July 2012, the FASB issued ASU No. 2012-02, "Intangibles--Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment." This ASU states that an entity has the option first to assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount in accordance with Codification Subtopic 350-30, "Intangibles--Goodwill and Other, General Intangibles Other than Goodwill." Under the guidance in this ASU, an entity also has the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to performing the quantitative impairment test. An entity will be able to resume performing the qualitative assessment in any subsequent period. The amendments in this ASU are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of this ASU did not have a a material effect on the Company’s Consolidated Financial Statements. | |
In February 2013, the FASB issued ASU No. 2013-04, "Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date". This ASU provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. For public entities, the ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The ASU shall be applied retrospectively to all prior periods presented for those obligations within the scope of this Subtopic that exist at the beginning of an entity's fiscal year of adoption. Early adoption is permitted. The Company does not expect that the adoption of this ASU will have a material effect on the Company's Consolidated Financial Statements. | |
In July 2013, the FASB issued ASU No. 2013-10, "Derivatives and Hedging (Topic 815) - Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes". This ASU allows the use of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a benchmark interest rate for hedge accounting purposes in addition to interest rates on direct Treasury obligations of the United States government and LIBOR. In addition, the ASU removes the restriction on using different benchmark rates for similar hedges. The ASU became effective on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The adoption of this ASU did not have a material effect on the Company's Consolidated Financial Statements. | |
In July 2013, the FASB issued ASU No. 2013-11, "Income Taxes (Topic 740) - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists". This ASU requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to 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, except to the extent that a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date, the unrecognized tax benefit should be presented in the financial statements as a liability and not combined with deferred tax assets. This ASU is effective for annual and interim periods beginning after December 15, 2013, with early adoption permitted. The Company does not expect that the adoption of this ASU will have a material effect on the Company's Consolidated Financial Statements. |
Receivables_Net_Tables
Receivables, Net (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Receivables [Abstract] | ' | |||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||
Receivables are summarized as follows: | ||||||||
2013 | 2012 | |||||||
Customers, trade | $ | 41,898 | $ | 31,043 | ||||
Other receivables | 2,306 | 1,642 | ||||||
Gross receivables | 44,204 | 32,685 | ||||||
Less allowance for doubtful accounts | (141 | ) | (216 | ) | ||||
Net receivables | $ | 44,063 | $ | 32,469 | ||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Schedule of Inventory, Current [Table Text Block] | ' | |||||||
Inventories are summarized as follows: | ||||||||
2013 | 2012 | |||||||
Raw materials | $ | 31,864 | $ | 23,002 | ||||
Work-in-process | 16,880 | 13,786 | ||||||
Finished goods | 57,983 | 49,251 | ||||||
Supplies, repair parts and other | 566 | 470 | ||||||
LIFO reserve | (13,626 | ) | (14,264 | ) | ||||
Total inventories | $ | 93,667 | $ | 72,245 | ||||
Property_Plant_and_Equipment_N1
Property, Plant and Equipment, Net (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Property, plant and equipment consists of the following: | ||||||||
2013 | 2012 | |||||||
Land and improvements | $ | 7,231 | $ | 6,950 | ||||
Buildings and improvement | 50,627 | 50,293 | ||||||
Machinery and equipment | 149,040 | 137,432 | ||||||
206,898 | 194,675 | |||||||
Accumulated depreciation | (132,413 | ) | (125,192 | ) | ||||
Property, plant and equipment, net | $ | 74,485 | $ | 69,483 | ||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||
Dec. 28, 2013 | ||||
Robertex [Member] | ' | |||
Business Acquisition [Line Items] | ' | |||
Business Acquisition, Cost of Acquired Entity, Description of Purchase Price Components | ' | |||
The purchase price consideration was as follows: | ||||
Cash paid | $ | 2,278 | ||
Seller-financed note | 3,749 | |||
Contingent consideration | 1,307 | |||
Total purchase price | $ | 7,334 | ||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The components of the purchase price allocation consisted of the following: | ||||
Cash | $ | 108 | ||
Accounts receivable | 115 | |||
Inventory | 2,139 | |||
Other current assets | 14 | |||
Property, plant and equipment | 1,863 | |||
Definite-lived intangible assets | 2,222 | |||
Goodwill | 1,709 | |||
Accounts payable | (643 | ) | ||
Accrued expenses | (193 | ) | ||
Total purchase price | $ | 7,334 | ||
Colormaster [Member] | ' | |||
Business Acquisition [Line Items] | ' | |||
Business Acquisition, Cost of Acquired Entity, Description of Purchase Price Components | ' | |||
The purchase price consideration was as follows: | ||||
Cash paid | $ | 239 | ||
Seller-financed note | 5,500 | |||
Below-market supply contract | 823 | |||
Total purchase price | $ | 6,562 | ||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The components of the purchase price allocation consisted of the following: | ||||
Property, plant and equipment | $ | 6,371 | ||
Inventory | 173 | |||
Supplies | 18 | |||
Purchase price | $ | 6,562 | ||
Crown Rug [Member] | ' | |||
Business Acquisition [Line Items] | ' | |||
Business Acquisition, Cost of Acquired Entity, Description of Purchase Price Components | ' | |||
The purchase price consideration was as follows: | ||||
Cash paid | $ | 958 | ||
Deferred payments to seller | 471 | |||
Contingent consideration | 1,151 | |||
Total purchase price | $ | 2,580 | ||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The components of the purchase price allocation consisted of the following: | ||||
Property, plant and equipment | $ | 590 | ||
Definite-lived intangible assets | 352 | |||
Goodwill | 1,680 | |||
Accrued payable | (42 | ) | ||
Purchase price | $ | 2,580 | ||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||||||||||||||||
The changes in the carrying amounts of goodwill for the years ended 2013 and 2012 are as follows: | ||||||||||||||||||||||||
Goodwill | Accumulated Impairment Losses | Net | ||||||||||||||||||||||
Balance at December 31, 2011 | $ | — | $ | — | $ | — | ||||||||||||||||||
Additional goodwill recognized during the period (1) | 1,680 | — | 1,680 | |||||||||||||||||||||
Impairment losses recognized during the period | — | — | — | |||||||||||||||||||||
Other changes in the carrying amounts during the period | — | — | — | |||||||||||||||||||||
Balance at December 29, 2012 | 1,680 | — | 1,680 | |||||||||||||||||||||
Additional goodwill recognized during the period (2) | 1,709 | — | 1,709 | |||||||||||||||||||||
Impairment losses recognized during the period | — | — | — | |||||||||||||||||||||
Other changes in the carrying amounts during the period | — | — | — | |||||||||||||||||||||
Balance at December 28, 2013 | $ | 3,389 | $ | — | $ | 3,389 | ||||||||||||||||||
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | ' | |||||||||||||||||||||||
The following table represents the details of the Company's intangible assets for years ended 2013 and 2012: | ||||||||||||||||||||||||
Intangible assets subject to amortization: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | |||||||||||||||||||
Customer relationships | $ | 1,062 | $ | (40 | ) | $ | 1,022 | $ | 208 | $ | — | $ | 208 | |||||||||||
Rug design coding | 144 | (14 | ) | 130 | 144 | — | 144 | |||||||||||||||||
Trade names | 1,368 | (34 | ) | 1,334 | — | — | — | |||||||||||||||||
Total | $ | 2,574 | $ | (88 | ) | $ | 2,486 | $ | 352 | $ | — | $ | 352 | |||||||||||
Finite-lived Intangible Assets Amortization Expense [Table Text Block] | ' | |||||||||||||||||||||||
Amortization expense for intangible assets is summarized as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Customer relationships | $ | 40 | $ | — | $ | — | ||||||||||||||||||
Rug design coding | 14 | — | — | |||||||||||||||||||||
Trade names | 34 | — | — | |||||||||||||||||||||
Amortization expense | $ | 88 | $ | — | $ | — | ||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||||||||||||||||
The estimated future amortization expense during each of the next five fiscal years is as follows: | ||||||||||||||||||||||||
Year | Amount | |||||||||||||||||||||||
2014 | $ | 146 | ||||||||||||||||||||||
2015 | 146 | |||||||||||||||||||||||
2016 | 146 | |||||||||||||||||||||||
2017 | 146 | |||||||||||||||||||||||
2018 | 146 | |||||||||||||||||||||||
Thereafter | 1,756 | |||||||||||||||||||||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | |||||||
Accrued expenses are summarized as follows: | ||||||||
2013 | 2012 | |||||||
Compensation and benefits (1) | $ | 8,233 | $ | 5,637 | ||||
Provision for customer rebates, claims and allowances | 6,202 | 4,389 | ||||||
Outstanding checks in excess of cash | 3,873 | 2,523 | ||||||
Other | 7,894 | 6,598 | ||||||
Total accrued expenses | $ | 26,202 | $ | 19,147 | ||||
-1 | Includes a liability related to the Company's self-insured Workers' Compensation program. This program is collateralized by letters of credit in the aggregate amount of $1,717. |
Product_Warranty_Reserves_Tabl
Product Warranty Reserves (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Product Warranties Disclosures [Abstract] | ' | |||||||
Schedule of Product Warranty Liability [Table Text Block] | ' | |||||||
The following is a summary of the Company's product warranty activity. | ||||||||
2013 | 2012 | |||||||
Warranty reserve at beginning of year | $ | 1,297 | $ | 1,219 | ||||
Warranty liabilities accrued | 4,330 | 3,122 | ||||||
Warranty liabilities settled | (3,905 | ) | (3,118 | ) | ||||
Changes for pre-existing warranty liabilities | 128 | 74 | ||||||
Warranty reserve at end of year | $ | 1,850 | $ | 1,297 | ||||
LongTerm_Debt_and_Credit_Arran1
Long-Term Debt and Credit Arrangements (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||||||
Long-term debt consists of the following: | ||||||||||||
2013 | 2012 | |||||||||||
Revolving credit facility | $ | 85,274 | $ | 60,122 | ||||||||
Mortgage note payable | — | 10,141 | ||||||||||
Obligation to Development Authority of Gordon County | 4,447 | 5,339 | ||||||||||
Note payable - Robertex acquisition | 3,789 | — | ||||||||||
Equipment notes payable | 7,987 | 5,071 | ||||||||||
Notes payable | 2,210 | 632 | ||||||||||
Capital lease obligations | 4,281 | 2,920 | ||||||||||
Total long-term debt | 107,988 | 84,225 | ||||||||||
Less: current portion of long-term debt | (6,229 | ) | (4,059 | ) | ||||||||
Total long-term debt, less current portion | $ | 101,759 | $ | 80,166 | ||||||||
Schedule of Equipment Notes Payable [Table Text Block] | ' | |||||||||||
The terms of the Company's equipment financing notes are as follows: | ||||||||||||
Instrument | Interest Rate | Term (Months) | Principal and Interest Payments | Frequency | Maturity Date | |||||||
Note Payable - Equipment | 6.85 | % | 84 | $ | 38 | Monthly | May 1, 2014 | |||||
Note Payable - Equipment | 7.72 | % | 48 | 2 | Monthly | June 1, 2014 | ||||||
Note Payable - Equipment | 2 | % | 60 | 38 | Monthly | August 1, 2016 | ||||||
Note Payable - Equipment | 5.94 | % | 75 | 41 | Monthly | February 1, 2019 | ||||||
Note Payable - Equipment | 1 | % | 84 | 18 | Monthly | June 14, 2020 | ||||||
Note Payable - Equipment | 6.84 | % | 60 | 3 | Monthly | July 1, 2018 | ||||||
Note Payable - Equipment | 6.86 | % | 60 | 49 | Monthly | October 1, 2018 | ||||||
Schedule of Capital Lease Obligations [Table Text Block] | ' | |||||||||||
The terms of the Company's capitalized lease obligations are as follows: | ||||||||||||
Instrument | Interest Rate | Term (Months) | Principal and Interest Payments | Frequency | Maturity Date | |||||||
Capital Lease - Equipment | 7.04 | % | 84 | $ | 8 | Monthly | December 1, 2015 | |||||
Capital Lease - Equipment | 7.4 | % | 48 | 4 | Monthly | June 1, 2014 | ||||||
Capital Lease - Equipment | 2.9 | % | 60 | 11 | Monthly | August 1, 2017 | ||||||
Capital Lease - Equipment | 4.76 | % | 72 | 32 | Monthly | October 1, 2018 | ||||||
Capital Lease - Equipment | 5.74 | % | 56 | 2 | Monthly | October 1, 2017 | ||||||
Capital Lease - Equipment | 5.9 | % | 60 | 7 | Monthly | April 1, 2018 | ||||||
Capital Lease - Equipment | 5.75 | % | 60 | 7 | Monthly | July 1, 2018 | ||||||
Capital Lease - Equipment | 4.88 | % | 48 | 16 | Quarterly | April 1, 2017 | ||||||
Capital Lease - Equipment | 7.04 | % | 60 | 8 | Monthly | October 1, 2018 | ||||||
Capital Lease - Equipment | 5.1 | % | 60 | 3 | Monthly | November 1, 2018 | ||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | |||||||||||
Maturities of long-term debt for periods following December 28, 2013 are as follows: | ||||||||||||
Long-Term | Capital Leases | Total | ||||||||||
Debt | (See Note 17) | |||||||||||
2014 | $ | 5,392 | $ | 837 | $ | 6,229 | ||||||
2015 | 3,835 | 877 | 4,712 | |||||||||
2016 | 3,842 | 801 | 4,643 | |||||||||
2017 | 3,182 | 761 | 3,943 | |||||||||
2018 | 87,053 | 1,005 | 88,058 | |||||||||
Thereafter | 403 | — | 403 | |||||||||
Total | $ | 103,707 | $ | 4,281 | $ | 107,988 | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||
The following table reflects the fair values of assets and liabilities measured and recognized at fair value on a recurring basis on the Company's Consolidated Balance Sheets as of December 28, 2013 and December 29, 2012: | ||||||||||||||||
2013 | 2012 | Fair Value Hierarchy Level | ||||||||||||||
Assets: | ||||||||||||||||
Rabbi trust (1) | $ | 14,242 | $ | 11,894 | Level 2 | |||||||||||
Interest rate swaps (2) | 556 | — | Level 2 | |||||||||||||
Liabilities: | ||||||||||||||||
Interest rate swaps (2) | $ | 813 | $ | 1,086 | Level 2 | |||||||||||
Deferred compensation plan (3) | 13,210 | 11,066 | Level 1 | |||||||||||||
Contingent consideration (4) | 2,751 | 1,928 | Level 3 | |||||||||||||
-1 | The Company maintains a rabbi trust that serves as an investment designed to offset its deferred compensation plan liability. The investment assets of the trust consist of life insurance policies for which the Company recognizes income or expense based upon changes in cash surrender value. | |||||||||||||||
-2 | The fair value of the interest rate swaps was obtained from external sources. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties. | |||||||||||||||
-3 | Senior management and other highly compensated associates may defer a specified percentage of their compensation into a non-qualified deferred compensation plan. Changes in the value of the deferred compensation under this plan is recognized each period based on the fair value of the underlying measurement funds. | |||||||||||||||
-4 | As a result of the Colormaster and Crown Rug acquisitions in 2012 and the Robertex acquisition in 2013, the Company recorded contingent consideration liabilities at fair value. These fair value measurements were based on calculations that utilize significant inputs not observable in the market including forecasted revenues, gross margins and discount rates and thus represent Level 3 measurements. These fair value measurements are directly impacted by the Company's estimates. Accordingly, if the estimates are higher or lower than the estimates within the fair value measurement, the Company would record additional charges or benefits, respectively, as appropriate. | |||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||
Changes in the fair value measurements using significant unobservable inputs (Level 3) during the years ending December 28, 2013 and December 29, 2012 were as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Beginning balance | $ | 1,928 | $ | — | ||||||||||||
Contingent consideration liabilities recorded at fair value at acquisition | 1,307 | 1,974 | ||||||||||||||
Fair value adjustments | (23 | ) | — | |||||||||||||
Settlements | (461 | ) | (46 | ) | ||||||||||||
Ending balance | $ | 2,751 | $ | 1,928 | ||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||
The carrying amounts and estimated fair values of the Company's financial instruments are summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Financial assets: | ||||||||||||||||
Cash and cash equivalents | $ | 255 | $ | 255 | $ | 491 | $ | 491 | ||||||||
Notes receivable, including current portion | 282 | 282 | 307 | 307 | ||||||||||||
Interest rate swaps | 556 | 556 | — | — | ||||||||||||
Financial Liabilities: | ||||||||||||||||
Long-term debt and capital leases, including current portion | 107,988 | 101,752 | 84,225 | 80,174 | ||||||||||||
Interest rate swaps | 813 | 813 | 1,086 | 1,086 | ||||||||||||
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||
Schedule of Derivative Instruments [Table Text Block] | ' | |||||||||||
The following is a summary of the Company's interest rate swaps as of December 28, 2013: | ||||||||||||
Type | Notional Amount | Effective Date | Fixed Rate | Variable Rate | ||||||||
Interest rate swap | $ | 10,000 | October 3, 2011 through September 1, 2016 | 1.33% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 10,000 | March 1, 2013 through September 1, 2016 | 1.62% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 5,000 | June 1, 2013 through September 1, 2016 | 1.70% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 25,000 | September 1, 2016 through September 1, 2021 | 3.11% | 1 Month LIBOR | |||||||
Interest rate swap | $ | 25,000 | September 1, 2015 through September 1, 2021 | 3.30% | 1 Month LIBOR | |||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||
The following table summarizes the fair values of derivative instruments included in the Company's Consolidated Balance Sheets: | ||||||||||||
Location on Consolidated Balance Sheets | Fair Value | |||||||||||
2013 | 2012 | |||||||||||
Asset Derivatives: | ||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Interest rate swaps | Other Assets | $ | 556 | $ | — | |||||||
Derivatives not designated as hedging instruments: | ||||||||||||
Interest rate swaptions | Other Assets | — | — | |||||||||
Total Asset Derivatives | $ | 556 | $ | — | ||||||||
Liability Derivatives: | ||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Interest rate swaps, current portion | Accrued Expenses | $ | 328 | $ | 439 | |||||||
Interest rate swaps, long term portion | Other Long-Term Liabilities | 485 | 647 | |||||||||
Total Liability Derivatives | $ | 813 | $ | 1,086 | ||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||||
The following tables summarize the pre-tax impact of derivative instruments on the Company's financial statements: | ||||||||||||
Amount of Gain or (Loss) Recognized in AOCIL on the effective portion of the Derivative | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Cash flow hedges - interest rate swaps | $ | 381 | $ | (767 | ) | $ | (665 | ) | ||||
Amount of Gain or (Loss) Reclassified from AOCIL on the effective portion into Income (1)(2) | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Cash flow hedges - interest rate swaps | $ | (442 | ) | $ | (625 | ) | $ | (583 | ) | |||
Amount of Gain or (Loss) Recognized on the ineffective portion in Income on Derivative (3) | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives designated as hedging instruments: | ||||||||||||
Cash flow hedges - interest rate swaps | $ | — | $ | — | $ | — | ||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | ' | |||||||||||
Amount of Gain or (Loss) Recognized in Income on Derivative (4) | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||
Interest rate swaptions | $ | — | $ | 87 | $ | 43 | ||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||
Dec. 28, 2013 | ||||||||||||||||
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Multiemployer Plans [Table Text Block] | ' | |||||||||||||||
The Company's participation in the multi-employer pension plan for 2013 is provided in the table below. The "EIN/Pension Plan Number" column provides the Employee Identification Number (EIN) and the three digit plan number. The most recent Pension Protection Act (PPA) zone status available in 2013 and 2012 is for the plan's year-end at 2012 and 2011, respectively. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates a plan for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. | ||||||||||||||||
Pension Fund | EIN/Pension Plan Number | Pension Protection Act Zone Status | FIP/RP Status Pending/Implemented (1) | Contributions (2) | Surcharge Imposed (1) | Expiration Date of Collective-Bargaining Agreement | ||||||||||
2013 | 2012 | 2013 | 2012 | 2011 | ||||||||||||
The Pension Plan of the National Retirement Fund | 13-6130178 - 001 | Red | Red | Implemented | $ | 279 | $ | 256 | $ | 292 | Yes | 6/8/14 | ||||
(1) The collective-bargaining agreement requires the Company to contribute to the plan at the rate of $0.37 per compensated hour for each covered employee during the life of the collective-bargaining agreement. The Company will make additional contributions, as mandated by law, in accordance with the agreed to schedule for the fund's 2010 Rehabilitation Plan. The Rehabilitation Plan was effective June 1, 2010 and requires a surcharge equal to $0.02 per hour (from $0.37 to $0.39) effective June 1, 2010 - May 31, 2011, a surcharge equal to $0.05 per hour (from $0.37 to $0.42) effective June 1, 2011 - May 31, 2012 a surcharge equal to $0.08 per hour (from $0.37 to $0.45) effective June 1, 2012 to May 31, 2013 and a surcharge equal to $0.10 per hour (from $0.37 to $0.47) effective June 1, 2013 to May 31, 2014. Based upon current employment and benefit levels, the Company's contributions to the multi-employer pension plan are expected to be approximately $284 for 2014. | ||||||||||||||||
(2) The Company's contributions to the plan do not represent more than 5% of the total contributions to the plan for the most recent plan year available. | ||||||||||||||||
Schedule of Net Funded Status [Table Text Block] | ' | |||||||||||||||
Information about the benefit obligation and funded status of the Company's postretirement benefit plans is summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Change in benefit obligation: | ||||||||||||||||
Benefit obligation at beginning of year | $ | 694 | $ | 733 | ||||||||||||
Service cost | 7 | 7 | ||||||||||||||
Interest cost | 23 | 26 | ||||||||||||||
Participant contributions | 15 | 15 | ||||||||||||||
Actuarial gain | (137 | ) | (80 | ) | ||||||||||||
Benefits paid | (5 | ) | (11 | ) | ||||||||||||
Medicare Part D subsidy | 1 | 4 | ||||||||||||||
Benefit obligation at end of year | 598 | 694 | ||||||||||||||
Change in plan assets: | ||||||||||||||||
Fair value of plan assets at beginning of year | — | — | ||||||||||||||
Employer contributions | (11 | ) | (8 | ) | ||||||||||||
Participant contributions | 15 | 15 | ||||||||||||||
Benefits paid | (5 | ) | (11 | ) | ||||||||||||
Medicare Part D subsidy | 1 | 4 | ||||||||||||||
Fair value of plan assets at end of year | — | — | ||||||||||||||
Unfunded amount | $ | (598 | ) | $ | (694 | ) | ||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | |||||||||||||||
The balance sheet classification of the Company's liability for postretirement benefit plans is summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Accrued expenses | $ | 18 | $ | 17 | ||||||||||||
Other long-term liabilities | 580 | 677 | ||||||||||||||
Total liability | $ | 598 | $ | 694 | ||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||||
Benefits expected to be paid on behalf of associates for postretirement benefit plans during the period 2014 through 2023 are summarized as follows: | ||||||||||||||||
Years | Postretirement | |||||||||||||||
Plans | ||||||||||||||||
2014 | $ | 18 | ||||||||||||||
2015 | 18 | |||||||||||||||
2016 | 18 | |||||||||||||||
2017 | 18 | |||||||||||||||
2018 | 18 | |||||||||||||||
2019 - 2023 | 96 | |||||||||||||||
Schedule of Assumptions Used [Table Text Block] | ' | |||||||||||||||
Assumptions used to determine benefit obligations of the Company's postretirement benefit plans are summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Weighted-average assumptions as of year-end: | ||||||||||||||||
Discount rate (benefit obligations) | 3.16 | % | 2.81 | % | ||||||||||||
Schedule of Health Care Cost Trend Rates [Table Text Block] | ' | |||||||||||||||
Assumptions used and related effects of health care cost are summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Health care cost trend assumed for next year | 8 | % | 9 | % | ||||||||||||
Rate to which the cost trend is assumed to decline | 5 | % | 5 | % | ||||||||||||
Year that the rate reaches the ultimate trend rate | 2017 | 2017 | ||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | |||||||||||||||
The effect of a 1% change in the health care cost trend on the Company's postretirement benefit plans is summarized as follows: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
1% Increase | 1% Decrease | 1% Increase | 1% Decrease | |||||||||||||
Accumulated postretirement benefit obligation | $ | 4 | $ | (3 | ) | $ | 3 | $ | (3 | ) | ||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | |||||||||||||||
Components of net periodic benefit cost (credit) for all postretirement plans are summarized as follows: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 7 | $ | 7 | $ | 7 | ||||||||||
Interest cost | 23 | 26 | 33 | |||||||||||||
Amortization of prior service credits | (88 | ) | (88 | ) | (88 | ) | ||||||||||
Recognized net actuarial gains | (35 | ) | (45 | ) | (29 | ) | ||||||||||
Settlement gain | (105 | ) | (48 | ) | (12 | ) | ||||||||||
Net periodic benefit cost (credit) | $ | (198 | ) | $ | (148 | ) | $ | (89 | ) | |||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | ' | |||||||||||||||
Pre-tax amounts included in AOCIL for the Company's postretirement benefit plans at 2013 are summarized as follows: | ||||||||||||||||
Postretirement Benefit Plans | ||||||||||||||||
Balance at 2013 | 2014 Expected Amortization | |||||||||||||||
Prior service credits | $ | (190 | ) | $ | (88 | ) | ||||||||||
Unrecognized actuarial gains | (397 | ) | (39 | ) | ||||||||||||
Totals | $ | (587 | ) | $ | (127 | ) |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||
The provision (benefit) for income taxes on income (loss) from continuing operations consists of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current | ||||||||||||
Federal | $ | 216 | $ | 154 | $ | 725 | ||||||
State | 178 | 88 | 213 | |||||||||
Total current | 394 | 242 | 938 | |||||||||
Deferred | ||||||||||||
Federal | (955 | ) | (592 | ) | (234 | ) | ||||||
State | (82 | ) | (51 | ) | (20 | ) | ||||||
Total deferred | (1,037 | ) | (643 | ) | (254 | ) | ||||||
Income tax provision (benefit) | $ | (643 | ) | $ | (401 | ) | $ | 684 | ||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||
Differences between the provision (benefit) for income taxes and the amount computed by applying the statutory federal income tax rate to income (loss) from continuing operations before taxes are summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
Statutory rate applied to income (loss) from continuing operations before taxes | $ | 1,650 | $ | (369 | ) | $ | 684 | |||||
Plus state income taxes, net of federal tax effect | 96 | 24 | 130 | |||||||||
Total statutory provision (benefit) | 1,746 | (345 | ) | 814 | ||||||||
Increase (decrease) attributable to: | ||||||||||||
Nondeductible meals and entertainment | 112 | 88 | 83 | |||||||||
Domestic production activities deduction | (208 | ) | — | — | ||||||||
Federal tax credits | (1,326 | ) | — | (179 | ) | |||||||
Goodwill | 283 | — | — | |||||||||
Change in valuation allowance | (1,190 | ) | — | — | ||||||||
Non-taxable insurance proceeds | (71 | ) | — | (174 | ) | |||||||
Stock-based compensation | — | 14 | 61 | |||||||||
Other items | 11 | (158 | ) | 79 | ||||||||
Total tax provision (benefit) | $ | (643 | ) | $ | (401 | ) | $ | 684 | ||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||
Significant components of the Company's deferred tax assets and liabilities are as follows: | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Inventories | $ | 2,226 | $ | 2,324 | ||||||||
Retirement benefits | 3,408 | 3,464 | ||||||||||
Federal/State net operating losses | 2,936 | 3,221 | ||||||||||
Federal/State tax credit carryforwards | 1,740 | 2,111 | ||||||||||
Allowances for bad debts, claims and discounts | 2,527 | 1,845 | ||||||||||
Other | 5,279 | 5,497 | ||||||||||
Total deferred tax assets | 18,116 | 18,462 | ||||||||||
Valuation allowance | (3,748 | ) | (4,938 | ) | ||||||||
Net deferred tax assets | 14,368 | 13,524 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property, plant and equipment | 11,818 | 11,733 | ||||||||||
Total deferred tax liabilities | 11,818 | 11,733 | ||||||||||
Net deferred tax asset | $ | 2,550 | $ | 1,791 | ||||||||
Balance sheet classification: | 2013 | 2012 | ||||||||||
Current deferred tax assets | $ | 6,622 | $ | 5,615 | ||||||||
Non-current deferred tax liabilities | 4,072 | 3,824 | ||||||||||
Net deferred tax asset | $ | 2,550 | $ | 1,791 | ||||||||
Summary of Income Tax Contingencies [Table Text Block] | ' | |||||||||||
The following is a summary of the change in the Company's unrecognized tax benefits: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at beginning of year | $ | 5 | $ | 16 | $ | 47 | ||||||
Additions based on tax positions taken during a prior period | 250 | — | — | |||||||||
Additions based on tax positions taken during a current period | 41 | — | — | |||||||||
Reductions related to settlement of tax matters | — | — | (17 | ) | ||||||||
Reductions related to a lapse of applicable statute of limitations | (5 | ) | (11 | ) | (14 | ) | ||||||
Balance at end of year | $ | 291 | $ | 5 | $ | 16 | ||||||
Common_Stock_and_Earnings_Loss1
Common Stock and Earnings (Loss) Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Earnings Per Share, Basic and Diluted [Abstract] | ' | |||||||||||
Schedule of Earnings Per Share Reconciliation [Table Text Block] | ' | |||||||||||
The following table sets forth the computation of basic and diluted earnings (loss) per share from continuing operations: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic earnings (loss) per share: | ||||||||||||
Income (loss) from continuing operations | $ | 5,358 | $ | (653 | ) | $ | 1,272 | |||||
Less: Allocation of earnings to participating securities | (212 | ) | — | (31 | ) | |||||||
Income (loss) from continuing operations available to common shareholders - basic | $ | 5,146 | $ | (653 | ) | $ | 1,241 | |||||
Basic weighted-average shares outstanding (1) | 12,737 | 12,638 | 12,585 | |||||||||
Basic earnings (loss) per share - continuing operations | $ | 0.4 | $ | (0.05 | ) | $ | 0.1 | |||||
Diluted earnings (loss) per share: | ||||||||||||
Income (loss) from continuing operations available to common shareholders - basic | $ | 5,146 | $ | (653 | ) | $ | 1,241 | |||||
Add: Undistributed earnings reallocated to unvested shareholders | 2 | — | — | |||||||||
Income (loss) from continuing operations available to common shareholders - basic | $ | 5,148 | $ | (653 | ) | $ | 1,241 | |||||
Basic weighted-average shares outstanding (1) | 12,737 | 12,638 | 12,585 | |||||||||
Effect of dilutive securities: | ||||||||||||
Stock options (2) | 54 | — | 1 | |||||||||
Directors' stock performance units (2) | 61 | — | 37 | |||||||||
Diluted weighted-average shares outstanding (1)(2) | 12,852 | 12,638 | 12,623 | |||||||||
Diluted earnings (loss) per share - continuing operations | $ | 0.4 | $ | (0.05 | ) | $ | 0.1 | |||||
-1 | Includes Common and Class B Common shares, less shares held in treasury, in thousands. | |||||||||||
-2 | Because their effects are anti-dilutive, shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock at the end of the relevant period, directors' stock performance units, and shares issuable on conversion of subordinated debentures into shares of Common Stock have been excluded. Aggregate shares excluded were 510 in 2013, 827 shares in 2012 and 1,337 shares in 2011. |
Stock_Plans_and_Stock_Compensa1
Stock Plans and Stock Compensation Expense (Tables) | 12 Months Ended | ||||||||||
Dec. 28, 2013 | |||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||
Restricted stock activity for the three years ended December 28, 2013 is summarized as follows: | |||||||||||
Number of Shares | Weighted-Average Grant-Date Fair Value | ||||||||||
Outstanding at December 25, 2010 | 301,179 | $ | 8.61 | ||||||||
Granted | 91,340 | 4.57 | |||||||||
Vested | (85,990 | ) | 6.51 | ||||||||
Forfeited | — | — | |||||||||
Outstanding at December 31, 2011 | 306,529 | 8 | |||||||||
Granted | 289,233 | 3.99 | |||||||||
Vested | (113,647 | ) | 4.2 | ||||||||
Forfeited | (17,229 | ) | 4.14 | ||||||||
Outstanding at December 29, 2012 | 464,886 | 6.57 | |||||||||
Granted | 173,249 | 5.19 | |||||||||
Vested | (112,336 | ) | 4.15 | ||||||||
Forfeited | — | — | |||||||||
Outstanding at December 28, 2013 | 525,799 | $ | 6.64 | ||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||
Option activity for the three years ended December 28, 2013 is summarized as follows: | |||||||||||
Number of Shares | Weighted-Average Exercise Price | Weighted-Average Fair Value of Options Granted During the Year | |||||||||
Outstanding at December 25, 2010 | 786,728 | $ | 10.91 | $ | — | ||||||
Granted | — | — | — | ||||||||
Exercised | — | — | — | ||||||||
Forfeited | — | — | — | ||||||||
Outstanding at December 31, 2011 | 786,728 | 10.91 | — | ||||||||
Granted | — | — | — | ||||||||
Exercised | — | — | — | ||||||||
Forfeited | (89,321 | ) | 10.2 | — | |||||||
Outstanding at December 29, 2012 | 697,407 | 11 | — | ||||||||
Granted | — | — | — | ||||||||
Exercised | (37,052 | ) | 5.15 | — | |||||||
Forfeited | — | — | — | ||||||||
Outstanding at December 28, 2013 | 660,355 | $ | 11.33 | $ | — | ||||||
Options exercisable at: | |||||||||||
31-Dec-11 | 682,478 | $ | 11.81 | — | |||||||
29-Dec-12 | 638,407 | 11.56 | — | ||||||||
28-Dec-13 | 630,855 | 11.63 | — | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | ' | ||||||||||
The following table summarizes information about stock options at December 28, 2013: | |||||||||||
Options Outstanding | |||||||||||
Range of Exercise Prices | Number of Shares | Weighted-Average Remaining Contractual Life | Weighted-Average Exercise Price | ||||||||
$4.20 - $5.00 | 126,750 | 5.1 | years | $ | 4.93 | ||||||
$6.96 - $6.96 | 83,435 | 1.3 | years | 6.96 | |||||||
$11.85 - $17.58 | 450,170 | 1.4 | years | 13.94 | |||||||
$3.875 - $17.58 | 660,355 | 2.1 | years | $ | 11.33 | ||||||
Options Exercisable | |||||||||||
Range of Exercise Prices | Number of Shares | Weighted-Average Remaining Contractual Life | Weighted-Average Exercise Price | ||||||||
$4.20 - $5.00 | 97,250 | 4.8 | years | $ | 4.91 | ||||||
$6.96 - $6.96 | 83,435 | 1.3 | years | 6.96 | |||||||
$11.85 - $17.58 | 450,170 | 1.4 | years | 13.94 | |||||||
$3.875 - $17.58 | 630,855 | 1.9 | years | $ | 11.63 | ||||||
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||
Schedule of Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
Components of other comprehensive income (loss) are as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other comprehensive income (loss): | ||||||||||||
Unrealized gain (loss) on interest rate swaps: | ||||||||||||
Before income taxes | $ | 381 | $ | (767 | ) | $ | (665 | ) | ||||
Income taxes | 145 | (291 | ) | (253 | ) | |||||||
Net of taxes | 236 | (476 | ) | (412 | ) | |||||||
Reclassification of loss into earnings from interest rate swaps: | ||||||||||||
Before income taxes | 284 | 158 | 433 | |||||||||
Income taxes | 108 | 60 | 165 | |||||||||
Net of taxes | 176 | 98 | 268 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps: | ||||||||||||
Before income taxes | 158 | 467 | 150 | |||||||||
Income taxes | 60 | 178 | 57 | |||||||||
Net of taxes | 98 | 289 | 93 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans: | ||||||||||||
Before income taxes | 32 | 33 | 108 | |||||||||
Income taxes | 12 | 13 | 41 | |||||||||
Net of taxes | 20 | 20 | 67 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans: | ||||||||||||
Before income taxes | (35 | ) | (45 | ) | (29 | ) | ||||||
Income taxes | (13 | ) | (18 | ) | (11 | ) | ||||||
Net of taxes | (22 | ) | (27 | ) | (18 | ) | ||||||
Reclassification of prior service credits into earnings from postretirement benefit plans: | ||||||||||||
Before income taxes | (88 | ) | (88 | ) | (88 | ) | ||||||
Income taxes | (34 | ) | (34 | ) | (33 | ) | ||||||
Net of taxes | (54 | ) | (54 | ) | (55 | ) | ||||||
Other comprehensive income (loss) | $ | 454 | $ | (150 | ) | $ | (57 | ) | ||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
Components of accumulated other comprehensive income (loss), net of tax, are as follows: | ||||||||||||
Interest Rate Swaps | Post-Retirement Liabilities | Total | ||||||||||
Balance at December 25, 2010 | $ | (514 | ) | $ | 483 | $ | (31 | ) | ||||
Unrealized gain (loss) on interest rate swaps, net of tax of $253 | (412 | ) | — | (412 | ) | |||||||
Reclassification of loss into earnings from interest rate swaps, net of tax of $165 | 268 | — | 268 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps, net of tax of $57 | 93 | — | 93 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $41 | — | 67 | 67 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $11 | — | (18 | ) | (18 | ) | |||||||
Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $33 | — | (55 | ) | (55 | ) | |||||||
Balance at December 31, 2011 | (565 | ) | 477 | (88 | ) | |||||||
Unrealized gain (loss) on interest rate swaps, net of tax of $291 | (476 | ) | — | (476 | ) | |||||||
Reclassification of loss into earnings from interest rate swaps, net of tax of $60 | 98 | — | 98 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps, net of tax of $178 | 289 | — | 289 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $13 | — | 20 | 20 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $18 | — | (27 | ) | (27 | ) | |||||||
Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $34 | — | (54 | ) | (54 | ) | |||||||
Balance at December 29, 2012 | (654 | ) | 416 | (238 | ) | |||||||
Unrealized gain (loss) on interest rate swaps, net of tax of $145 | 236 | — | 236 | |||||||||
Reclassification of loss into earnings from interest rate swaps, net of tax of $108 | 176 | — | 176 | |||||||||
Amortization of unrealized loss on dedesignated interest rate swaps, net of tax of $60 | 98 | — | 98 | |||||||||
Unrecognized net actuarial gain on postretirement benefit plans, net of tax of $12 | — | 20 | 20 | |||||||||
Reclassification of net actuarial gain into earnings from postretirement benefit plans, net of tax of $13 | — | (22 | ) | (22 | ) | |||||||
Reclassification of prior service credits into earnings from postretirement benefit plans, net of tax of $34 | — | (54 | ) | (54 | ) | |||||||
Balance at December 28, 2013 | $ | (144 | ) | $ | 360 | $ | 216 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||
Dec. 28, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | ' | |||||||
The Company leases certain equipment under capital leases and certain buildings, machinery and equipment under operating leases. Commitments for minimum rentals under non-cancelable leases, including any applicable rent escalation clauses, are as follows: | ||||||||
Capital | Operating | |||||||
Leases | Leases | |||||||
2014 | $ | 1,040 | $ | 2,421 | ||||
2015 | 1,037 | 2,132 | ||||||
2016 | 919 | 1,898 | ||||||
2017 | 838 | 1,470 | ||||||
2018 | 1,037 | 1,067 | ||||||
Thereafter | — | 4,739 | ||||||
Total commitments | 4,871 | 13,727 | ||||||
Less amounts representing interest | (590 | ) | — | |||||
Total | $ | 4,281 | $ | 13,727 | ||||
Other_Income_Expense_Tables
Other (Income) Expense (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Other (Income) Expense [Abstract] | ' | |||||||||||
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | ' | |||||||||||
Other operating (income) expense, net is summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other operating (income) expense, net: | ||||||||||||
Insurance proceeds (1) | $ | (202 | ) | $ | — | $ | (492 | ) | ||||
Loss on property, plant and equipment disposals | 195 | 1 | 37 | |||||||||
Retirement expenses | 154 | 201 | 371 | |||||||||
Contract settlement | 172 | — | — | |||||||||
Miscellaneous (income) expense | 175 | (134 | ) | (182 | ) | |||||||
Other operating (income) expense, net | $ | 494 | $ | 68 | $ | (266 | ) | |||||
-1 | The Company recognized settlement gains of $202 and $492 from company-owned insurance policies during 2013 and 2011, respectively. | |||||||||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | ' | |||||||||||
Other (income) expense, net is summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other (income) expense, net: | ||||||||||||
(Gain) loss on non-hedged swaptions | $ | — | $ | (87 | ) | $ | (43 | ) | ||||
Gain on sale of non-operating assets | — | (187 | ) | — | ||||||||
Miscellaneous (income) expense | 26 | (3 | ) | (32 | ) | |||||||
Other (income) expense, net | $ | 26 | $ | (277 | ) | $ | (75 | ) | ||||
Facility_Consolidation_and_Sev1
Facility Consolidation and Severance Expenses, Net (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 28, 2013 | ||||||||||||||||||||
2008 Facilities Consolidation [Member] | ' | |||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | |||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | |||||||||||||||||||
Total restructuring costs related to the 2008 Facilities Consolidation are summarized as follows: | ||||||||||||||||||||
Equipment and Inventory Relocation | Severance Pay and Employee Relocation | Asset Impairments | Lease Obligations | Total | ||||||||||||||||
Total expenses by activity | $ | 3,192 | $ | 1,095 | $ | 1,459 | $ | 1,664 | $ | 7,410 | ||||||||||
2009 Organization Restructuring [Member] | ' | |||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | |||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | ' | |||||||||||||||||||
Total restructuring costs related to the 2009 Organization Restructuring are summarized as follows: | ||||||||||||||||||||
Severance Pay and Employee Relocation | Computer Systems Conversion Costs | Total | ||||||||||||||||||
Total expenses by activity | $ | 969 | $ | 481 | $ | 1,450 | ||||||||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||||||
Dec. 28, 2013 | ||||||||||||
Discontinued Operations [Abstract] | ' | |||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | |||||||||||
Discontinued operations are summarized as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Loss from discontinued operations: | ||||||||||||
Workers' compensation costs | $ | (23 | ) | $ | (143 | ) | $ | (237 | ) | |||
Environmental remediation costs | (74 | ) | (279 | ) | (196 | ) | ||||||
Loss from discontinued operations, before taxes | (97 | ) | (422 | ) | (433 | ) | ||||||
Income tax benefit | (29 | ) | (148 | ) | (147 | ) | ||||||
Loss from discontinued operations, net of tax | $ | (68 | ) | $ | (274 | ) | $ | (286 | ) |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Market Risk (Details) | 12 Months Ended | ||
Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Rate | Rate | Rate | |
customers | |||
Revenue, Major Customer [Line Items] | ' | ' | ' |
Number of Customers Greater than Ten Percent | 1 | ' | ' |
Entity-Wide Revenue, Major Customer, Percentage | 13.00% | 9.00% | 12.00% |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 28, 2013 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '40 years |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Finitie-Lived Intangible Assets (Details) | 12 Months Ended |
Dec. 28, 2013 | |
Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years |
Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Asset, Useful Life | '20 years |
Receivables_Net_Details
Receivables, Net (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Customers, trade | $41,898 | $31,043 |
Other receivables | 2,306 | 1,642 |
Gross receivables | 44,204 | 32,685 |
Less allowance for doubtful accounts | -141 | -216 |
Net receivables | $44,063 | $32,469 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $31,864 | $23,002 |
Work-in-process | 16,880 | 13,786 |
Finished goods | 57,983 | 49,251 |
Supplies, repair parts and other | 566 | 470 |
LIFO reserve | -13,626 | -14,264 |
Total inventories | $93,667 | $72,245 |
Property_Plant_and_Equipment_N2
Property, Plant and Equipment, Net (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Land and improvements | $7,231 | $6,950 | ' |
Buildings and improvement | 50,627 | 50,293 | ' |
Machinery and equipment | 149,040 | 137,432 | ' |
Property, plant and equipment, gross | 206,898 | 194,675 | ' |
Accumulated depreciation | -132,413 | -125,192 | ' |
Property, plant and equipment, net | 74,485 | 69,483 | ' |
Depreciation | $9,866 | $9,070 | $9,417 |
Acquisitions_Details
Acquisitions (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 28, 2013 | Jul. 01, 2013 | Dec. 29, 2012 | Nov. 02, 2012 | Dec. 29, 2012 | Nov. 28, 2012 |
In Thousands, unless otherwise specified | Robertex [Member] | Robertex [Member] | Colormaster [Member] | Colormaster [Member] | Crown Rug [Member] | Crown Rug [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction costs of acquisition | ' | ' | ' | ' | $350 | ' | $269 | ' | $49 |
Cash paid | ' | ' | ' | 2,278 | ' | 239 | ' | 958 | ' |
Seller-financed note | ' | ' | ' | 3,749 | ' | 5,500 | ' | ' | ' |
Below-market supply contract | ' | ' | ' | ' | ' | 823 | ' | ' | ' |
Deferred payments to seller | ' | ' | ' | ' | ' | ' | ' | 471 | ' |
Contingent consideration | ' | ' | ' | 1,307 | ' | ' | ' | 1,151 | ' |
Total purchase price | ' | ' | ' | 7,334 | ' | 6,562 | ' | 2,580 | ' |
Cash | ' | ' | ' | ' | 108 | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | 115 | ' | ' | ' | ' |
Inventory | ' | ' | ' | ' | 2,139 | ' | 173 | ' | ' |
Supplies | ' | ' | ' | ' | 14 | ' | 18 | ' | ' |
Property, plant and equipment | ' | ' | ' | ' | 1,863 | ' | 6,371 | ' | 590 |
Definite-lived intangible assets | ' | ' | ' | ' | 2,222 | ' | ' | ' | 352 |
Goodwill | 3,389 | 1,680 | 0 | ' | 1,709 | ' | ' | ' | 1,680 |
Accounts payable | ' | ' | ' | ' | -643 | ' | ' | ' | ' |
Accrued expenses | ' | ' | ' | ' | -193 | ' | ' | ' | -42 |
Purchase price | ' | ' | ' | ' | $7,334 | ' | $6,562 | ' | $2,580 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | ||
Goodwill [Line Items] | ' | ' | ' | ||
Goodwill, gross, balance | $1,680 | $0 | ' | ||
Additional goodwill recognized during period | 1,709 | [1] | 1,680 | [2] | ' |
Impairment losses recognized during the period | 0 | 0 | ' | ||
Other changes in the carrying amounts during the period | 0 | 0 | ' | ||
Goodwill, gross, balance | 3,389 | 1,680 | ' | ||
Goodwill | 3,389 | 1,680 | 0 | ||
Accumulated impairment losses | $0 | $0 | $0 | ||
[1] | During 2013, the Company recorded goodwill related to the Robertex acquisition. | ||||
[2] | During 2012, the Company recorded goodwill related to the Crown Rug acquisition. |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets Schedule of Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross | $2,574 | $352 | ' |
Accumulated Amortization | -88 | 0 | ' |
Net | 2,486 | 352 | ' |
Amortization expense | 88 | 0 | 0 |
Customer Relationships [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross | 1,062 | 208 | ' |
Accumulated Amortization | -40 | 0 | ' |
Net | 1,022 | 208 | ' |
Amortization expense | 40 | 0 | 0 |
Rug Design Coding [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross | 144 | 144 | ' |
Accumulated Amortization | -14 | 0 | ' |
Net | 130 | 144 | ' |
Amortization expense | 14 | 0 | 0 |
Trade Names [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross | 1,368 | 0 | ' |
Accumulated Amortization | -34 | 0 | ' |
Net | 1,334 | 0 | ' |
Amortization expense | $34 | $0 | $0 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets Intangible Assets Schedule of Future Amortization (Details) (USD $) | Dec. 28, 2013 |
In Thousands, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Amortization Expense, Next Twelve Months | $146 |
Amortization Expense, Year Two | 146 |
Amortization Expense, Year Three | 146 |
Amortization Expense, Year Four | 146 |
Amortization Expense, Year Five | 146 |
Amortization Expense, after Year Five | $1,756 |
Accrued_Expenses_Details
Accrued Expenses (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | ||
In Thousands, unless otherwise specified | ||||
Payables and Accruals [Abstract] | ' | ' | ||
Compensation and benefits | $8,233 | [1] | $5,637 | [1] |
Provision for customer rebates, claims and allowances | 6,202 | 4,389 | ||
Outstanding checks in excess of cash | 3,873 | 2,523 | ||
Other | 7,894 | 6,598 | ||
Total accrued expenses | 26,202 | 19,147 | ||
Letters of Credit Outstanding, Amount | $1,717 | ' | ||
[1] | Includes a liability related to the Company's self-insured Workers' Compensation program. This program is collateralized by letters of credit in the aggregate amount of $1,717. |
Product_Warranty_Reserves_Deta
Product Warranty Reserves (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Product Warranties Disclosures [Abstract] | ' | ' |
Warranty reserve at beginning of period | $1,297 | $1,219 |
Warranty liabilities accrued | 4,330 | 3,122 |
Warranty liabilities settled | -3,905 | -3,118 |
Changes for pre-existing warranty liabilities | 128 | 74 |
Warranty reserve at end of period | $1,850 | $1,297 |
LongTerm_Debt_and_Credit_Arran2
Long-Term Debt and Credit Arrangements (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Revolving credit facility | $85,274 | $60,122 |
Mortgage note payable | 0 | 10,141 |
Obligation to Development Authority of Gordon County | 4,447 | 5,339 |
Note payable - Robertex acquisition | 3,789 | 0 |
Equipment notes payable | 7,987 | 5,071 |
Notes payable | 2,210 | 632 |
Capital lease obligations | 4,281 | 2,920 |
Total long-term debt | 107,988 | 84,225 |
Less: current portion of long-term debt | -6,229 | -4,059 |
Total long-term debt, less current portion | $101,759 | $80,166 |
LongTerm_Debt_and_Credit_Arran3
Long-Term Debt and Credit Arrangements (Revolving Credit Facility) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Rate | Rate | ||
Line of Credit Facility [Line Items] | ' | ' | ' |
Debt, Weighted Average Interest Rate | 2.66% | 3.59% | ' |
Refinancing expenses | $94 | $0 | $317 |
Write-off of deferred financing costs | 94 | 0 | 92 |
Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Term Of Line Of Credit (in years) | 5 | ' | ' |
Maximum Borrowing Capacity | 90,000 | ' | ' |
Commitment Fee Percentage | 0.38% | ' | ' |
Minimum Borrowing Capacity for No Financial Covenants | 10,000 | ' | ' |
Debt Issuance Cost | ' | ' | 1,410 |
Refinancing expenses | ' | ' | 317 |
Write-off of deferred financing costs | ' | ' | 92 |
Refinancing Expenses - Third Party Fees | ' | ' | 225 |
Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Maximum Borrowing Capacity | 130,000 | ' | ' |
Commitment Fee Percentage | 0.38% | ' | ' |
Minimum Borrowing Capacity for No Financial Covenants | 14,440 | ' | ' |
Remaining Borrowing Capacity | 32,618 | ' | ' |
Debt Issuance Cost | 351 | 28 | ' |
Refinancing expenses | 94 | ' | ' |
Note Payable - 5 [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Debt Issuance Cost | $37 | ' | ' |
Minimum [Member] | Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Fixed Charge Coverage Ratio | 1.1 | ' | ' |
Minimum [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Fixed Charge Coverage Ratio | 1.1 | ' | ' |
Alternative [Member] | Minimum [Member] | Libor [Member] | Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 2.00% | ' | ' |
Alternative [Member] | Minimum [Member] | Libor [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 1.50% | ' | ' |
Alternative [Member] | Midpoint [Member] | Libor [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 1.75% | ' | ' |
Alternative [Member] | Maximum [Member] | Libor [Member] | Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 2.25% | ' | ' |
Alternative [Member] | Maximum [Member] | Libor [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 2.00% | ' | ' |
Alternative B [Member] | Federal Funds [Member] | Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 0.50% | ' | ' |
Alternative B [Member] | Federal Funds [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 0.50% | ' | ' |
Alternative B [Member] | Daily Libor [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 1.00% | ' | ' |
Alternative B [Member] | Minimum [Member] | Daily Libor [Member] | Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 1.00% | ' | ' |
Alternative B [Member] | Minimum [Member] | Daily Libor [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 0.50% | ' | ' |
Alternative B [Member] | Midpoint [Member] | Daily Libor [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 0.75% | ' | ' |
Alternative B [Member] | Maximum [Member] | Daily Libor [Member] | Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 1.50% | ' | ' |
Alternative B [Member] | Maximum [Member] | Daily Libor [Member] | Amended Revolving Credit Facility [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Basis Spread on Variable Rate | 1.00% | ' | ' |
LongTerm_Debt_and_Credit_Arran4
Long-Term Debt and Credit Arrangements (Mortgage Note Payable) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 28, 2013 |
Debt Instrument [Line Items] | ' |
Extinguishment of Debt, Amount | $9,833 |
Secured Debt [Member] | ' |
Debt Instrument [Line Items] | ' |
Term of Secured Debt (in years) | 5 |
Mortgage Loan | 11,063 |
Basis Spread on Variable Rate | 3.00% |
Periodic Payment, Principal | 61 |
Final Payment, Principal | $7,436 |
LongTerm_Debt_and_Credit_Arran5
Long-Term Debt and Credit Arrangements (Obligation to Development Authority of Gordon County) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
M | ||
Rate | ||
Debt Instrument [Line Items] | ' | ' |
Obligation to Development Authority of Gordon County | $4,447 | $5,339 |
Note payable, Development Authority [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ' |
Obligation to Development Authority of Gordon County | 5,500 | ' |
Debt Instrument, Periodic Payment | 106 | ' |
Term of Obligation to Development Authority of Gordon County (in months) | 57 | ' |
Debt Issuance Cost | ' | $187 |
LongTerm_Debt_and_Credit_Arran6
Long-Term Debt and Credit Arrangements (Note Payable - Robertex Acquisition) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Jul. 01, 2013 |
In Thousands, unless otherwise specified | Note Payable - Robertex Acquisition [Member] | Note Payable - Robertex Acquisition [Member] | ||
Y | ||||
Rate | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 4.50% | ' |
Note payable - Robertex acquisition | $3,789 | $0 | $3,749 | $4,000 |
Term of Note Payable | ' | ' | 5 | ' |
Debt Instrument, Annual Principal Payment | ' | ' | $800 | ' |
LongTerm_Debt_and_Credit_Arran7
Long-Term Debt and Credit Arrangements (Equipment Notes Payable) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | Note Payable - 5 [Member] | Note Payable - 1 [Member] | Note Payable - 2 [Member] | Note Payable - 3 [Member] | Note Payable - 4 [Member] | Note Payable - 5 [Member] | Note Payable - 6 [Member] | Note Payable - 7 [Member] | ||
M | M | M | M | M | M | M | ||||
Rate | Rate | Rate | Rate | Rate | Rate | Rate | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Issuance Cost | ' | ' | $37 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 6.85% | 7.72% | 2.00% | 5.94% | 1.00% | 6.84% | 6.86% |
Term of Note Payable | ' | ' | ' | 84 | 48 | 60 | 75 | 84 | 60 | 60 |
Debt Instrument, Periodic Payment | ' | ' | ' | 38 | 2 | 38 | 41 | 18 | 3 | 49 |
Debt Instrument, Maturity Date | ' | ' | ' | 1-May-14 | 1-Jun-14 | 1-Aug-16 | 1-Feb-19 | 14-Jun-20 | 1-Jul-18 | 1-Oct-18 |
Escrow Deposit | $1,401 | $2,048 | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_and_Credit_Arran8
Long-Term Debt and Credit Arrangements (Capital Lease Obligations) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 28, 2013 |
M | |
Rate | |
Capital Lease Obligation - 1 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.04% |
Term of Capital Lease Obligation (in months) | 84 |
Debt Instrument, Periodic Payment | $8 |
Debt Instrument, Maturity Date | 1-Dec-15 |
Capital Lease Obligation - 2 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.40% |
Term of Capital Lease Obligation (in months) | 48 |
Debt Instrument, Periodic Payment | 4 |
Debt Instrument, Maturity Date | 1-Jun-14 |
Capital Lease Obligation - 3 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 2.90% |
Term of Capital Lease Obligation (in months) | 60 |
Debt Instrument, Periodic Payment | 11 |
Debt Instrument, Maturity Date | 1-Aug-17 |
Capital Lease Obligation - 4 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.76% |
Term of Capital Lease Obligation (in months) | 72 |
Debt Instrument, Periodic Payment | 32 |
Debt Instrument, Maturity Date | 1-Oct-18 |
Capital Lease Obligation - 5 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.74% |
Term of Capital Lease Obligation (in months) | 56 |
Debt Instrument, Periodic Payment | 2 |
Debt Instrument, Maturity Date | 1-Oct-17 |
Capital Lease Obligation - 6 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.90% |
Term of Capital Lease Obligation (in months) | 60 |
Debt Instrument, Periodic Payment | 7 |
Debt Instrument, Maturity Date | 1-Apr-18 |
Capital Lease Obligation - 7 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.75% |
Term of Capital Lease Obligation (in months) | 60 |
Debt Instrument, Periodic Payment | 7 |
Debt Instrument, Maturity Date | 1-Jul-18 |
Capital Lease Obligation - 8 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.88% |
Term of Capital Lease Obligation (in months) | 48 |
Debt Instrument, Periodic Payment | 16 |
Debt Instrument, Maturity Date | 1-Apr-17 |
Capital Lease Obligation - 9 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 7.04% |
Term of Capital Lease Obligation (in months) | 60 |
Debt Instrument, Periodic Payment | 8 |
Debt Instrument, Maturity Date | 1-Oct-18 |
Capital Lease Obligation - 10 [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.10% |
Term of Capital Lease Obligation (in months) | 60 |
Debt Instrument, Periodic Payment | $3 |
Debt Instrument, Maturity Date | 1-Nov-18 |
LongTerm_Debt_and_Credit_Arran9
Long-Term Debt and Credit Arrangements (Convertible Subordinated Debentures) (Details) (Convertible Subordinated Debt [Member], USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2011 |
Rate | |
Convertible Subordinated Debt [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Convertible, Effective Interest Rate | 7.00% |
Repayments of Convertible Debt | $9,925 |
Percentage of Outstanding Convertible Subordinated Debt Redeemed | 100.00% |
Convertible Subordinated Debt, Current | $9,662 |
Debt Instrument, Convertible, Conversion Price | $32.20 |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 0 |
Recovered_Sheet1
Long-Term Debt and Credit Arrangements (Interest Payments and Debt Maturities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Repayments of Principal in Next Twelve Months | $6,229 | ' | ' |
Repayments of Principal in Year Two | 4,712 | ' | ' |
Repayments of Principal in Year Three | 4,643 | ' | ' |
Repayments of Principal in Year Four | 3,943 | ' | ' |
Repayments of Principal in Year Five | 88,058 | ' | ' |
Repayments of Principal after Year Five | 403 | ' | ' |
Total | 107,988 | ' | ' |
Interest Paid | 3,067 | 2,795 | 3,338 |
Long-term Debt [Member] | ' | ' | ' |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Repayments of Principal in Next Twelve Months | 5,392 | ' | ' |
Repayments of Principal in Year Two | 3,835 | ' | ' |
Repayments of Principal in Year Three | 3,842 | ' | ' |
Repayments of Principal in Year Four | 3,182 | ' | ' |
Repayments of Principal in Year Five | 87,053 | ' | ' |
Repayments of Principal after Year Five | 403 | ' | ' |
Total | 103,707 | ' | ' |
Capital Lease Obligations [Member] | ' | ' | ' |
Maturities of Long-term Debt [Abstract] | ' | ' | ' |
Repayments of Principal in Next Twelve Months | 837 | ' | ' |
Repayments of Principal in Year Two | 877 | ' | ' |
Repayments of Principal in Year Three | 801 | ' | ' |
Repayments of Principal in Year Four | 761 | ' | ' |
Repayments of Principal in Year Five | 1,005 | ' | ' |
Repayments of Principal after Year Five | 0 | ' | ' |
Total | $4,281 | ' | ' |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements (Assets and Liabilities Measured on Recurring and Nonrecurring Basis) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 28, 2013 | Dec. 29, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Liabilities, Fair Value Disclosure [Abstract] | ' | ' | ||
Deferred compensation plan | $13,210 | [1] | $11,066 | [1] |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Assets, Fair Value Disclosure [Abstract] | ' | ' | ||
Rabbi trust | 14,242 | [2] | 11,894 | [2] |
Interest rate swaps | 556 | [3] | 0 | [3] |
Liabilities, Fair Value Disclosure [Abstract] | ' | ' | ||
Interest rate swaps | 813 | [3] | 1,086 | [3] |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Liabilities, Fair Value Disclosure [Abstract] | ' | ' | ||
Contingent consideration | $2,751 | [4] | $1,928 | [4] |
[1] | Senior management and other highly compensated associates may defer a specified percentage of their compensation into a non-qualified deferred compensation plan. Changes in the value of the deferred compensation under this plan is recognized each period based on the fair value of the underlying measurement funds. | |||
[2] | The Company maintains a rabbi trust that serves as an investment designed to offset its deferred compensation plan liability. The investment assets of the trust consist of life insurance policies for which the Company recognizes income or expense based upon changes in cash surrender value. | |||
[3] | The fair value of the interest rate swaps was obtained from external sources. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties. | |||
[4] | As a result of the Colormaster and Crown Rug acquisitions in 2012 and the Robertex acquisition in 2013, the Company recorded contingent consideration liabilities at fair value. These fair value measurements were based on calculations that utilize significant inputs not observable in the market including forecasted revenues, gross margins and discount rates and thus represent Level 3 measurements. These fair value measurements are directly impacted by the Company's estimates. Accordingly, if the estimates are higher or lower than the estimates within the fair value measurement, the Company would record additional charges or benefits, respectively, as appropriate. |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Measurements (Liabilities Measured on Recurring Basis Unobservable Input Reconciliation) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Beginning balance | $1,928 | $0 |
Contingent consideration liabilities recorded at fair value at acquisition | 1,307 | 1,974 |
Fair value adjustments | -23 | 0 |
Settlements | -461 | -46 |
Ending balance | $2,751 | $1,928 |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements Fair Value Measurements (Carrying Amount and Fair Value) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' |
Cash and cash equivalents | $255 | $491 |
Notes receivable, including current portion | 282 | 307 |
Interest rate swaps | 556 | 0 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' |
Long-term debt and capital leases, including current portion | 107,988 | 84,225 |
Interest rate swaps | 813 | 1,086 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ' | ' |
Cash and cash equivalents | 255 | 491 |
Notes receivable, including current portion | 282 | 307 |
Interest rate swaps | 556 | 0 |
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] | ' | ' |
Long-term debt and capital leases, including current portion | 101,752 | 80,174 |
Interest rate swaps | $813 | $1,086 |
Derivatives_Summary_of_Derivat
Derivatives (Summary of Derivative Instruments) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Derivative [Line Items] | ' | ' | ' |
Other Comprehensive Income (Loss), Amortization of Unrealized Losses on Dedesignated Derivatives, before Taxes | ($158) | ($467) | ($150) |
Effective October 3, 2011 through September 1, 2016 [Member] | Interest Rate Swap [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional Amount | 10,000 | ' | ' |
Fixed Interest Rate | 1.33% | ' | ' |
Effective March 1, 2013 through September 1, 2016 [Member] | Interest Rate Swap [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional Amount | 10,000 | ' | ' |
Fixed Interest Rate | 1.62% | ' | ' |
Effective June 1, 2013 through September 1, 2016 [Member] | Interest Rate Swap [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional Amount | 5,000 | ' | ' |
Fixed Interest Rate | 1.70% | ' | ' |
Effective September 1, 2016 through September 1, 2021 [Member] | Interest Rate Swap [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional Amount | 25,000 | ' | ' |
Fixed Interest Rate | 3.11% | ' | ' |
Effective September 1, 2015 through September 1, 2021 [Member] | Interest Rate Swap [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional Amount | 25,000 | ' | ' |
Fixed Interest Rate | 3.30% | ' | ' |
Dedesignated Hedge [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | 0 | ' | 779 |
Other Comprehensive Income (Loss), Amortization of Unrealized Losses on Dedesignated Derivatives, before Taxes | -158 | -467 | -150 |
Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Derivative, Cash Received on Non-Hedged Instrument | ' | $285 | ' |
Derivatives_Derivatives_Fair_V
Derivatives (Derivatives - Fair Value and Designation) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Derivative Asset, Fair Value, Net [Abstract] | ' | ' |
interest rate swaps | $556 | $0 |
Derivative Liability, Fair Value, Net [Abstract] | ' | ' |
Interest rate swaps | 813 | 1,086 |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Other Assets [Member] | ' | ' |
Derivative Asset, Fair Value, Net [Abstract] | ' | ' |
interest rate swaps | 0 | 0 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Assets [Member] | ' | ' |
Derivative Asset, Fair Value, Net [Abstract] | ' | ' |
interest rate swaps | 556 | 0 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Accrued Liabilities [Member] | ' | ' |
Derivative Liability, Fair Value, Net [Abstract] | ' | ' |
Interest rate swaps | 328 | 439 |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Liabilities [Member] | ' | ' |
Derivative Liability, Fair Value, Net [Abstract] | ' | ' |
Interest rate swaps | $485 | $647 |
Derivatives_Schedule_of_Deriva
Derivatives (Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) Recognized in Income | $0 | $87 | $43 | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion | 381 | -767 | -665 | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Interest Expense [Member] | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion | -442 | [1],[2] | -625 | [1],[2] | -583 | [1],[2] |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 328 | ' | ' | |||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Expense [Member] | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) on Cash Flow Hedge Ineffectiveness | 0 | [3] | 0 | [3] | 0 | [3] |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaption [Member] | Other Income [Member] | ' | ' | ' | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | |||
Gain (Loss) Recognized in Income | $0 | [4] | $87 | [4] | $43 | [4] |
[1] | The amount of gain (loss) reclassified from AOCIL is included in interest expense on the Company's Consolidated Statements of Operations. | |||||
[2] | The amount of loss expected to be reclassified from AOCIL into earnings during the next 12 months subsequent to fiscal 2013 is $328. | |||||
[3] | The amount of gain (loss) recognized in income on the ineffective portion of interest rate swaps is included in other (income) expense, net on the Company's Consolidated Statements of Operations. | |||||
[4] | The amount of gain (loss) recognized in income for derivatives not designated as hedging instruments is included in other (income) expense, net on the Company's Consolidated Statements of Operations. |
Employee_Benefit_Plans_Defined
Employee Benefit Plans (Defined Contribution Plans) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Rate | |||
Defined Contribution Plans [Line Items] | ' | ' | ' |
Percentage of Employees Covered | 18.00% | ' | ' |
Non-Collective-Bargaining Plan [Member] | ' | ' | ' |
Defined Contribution Plans [Line Items] | ' | ' | ' |
Percentage of Employees Covered | 82.00% | ' | ' |
Employer Matching Contribution, Percentage | 1.00% | ' | ' |
Employer Matching Contribution, Discretionary Percentage | 2.00% | ' | ' |
Maximum Annual Contribution Per Employee, Percentage | 3.00% | ' | ' |
Cost Recognized | $610 | $247 | ' |
Collective-Bargaining Plan [Member] | ' | ' | ' |
Defined Contribution Plans [Line Items] | ' | ' | ' |
Percentage of Employees Covered | 18.00% | ' | ' |
Maximum Annual Contribution Per Employee, Percentage | 2.75% | ' | ' |
Cost Recognized | $86 | $78 | $87 |
Employee_Benefit_Plans_Nonqual
Employee Benefit Plans (Nonqualified Retirement Savings Plan) (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Liability to Participants | $13,210 | $11,066 |
Cash Surrender Value of Life Insurance | $14,242 | $11,894 |
Employee_Benefit_Plans_MultiEm
Employee Benefit Plans (Multi-Employer Pension Plan) (Details) (USD $) | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 25, 2010 | |||
Rate | Rate | Rate | Rate | ||||
Multiemployer Plans [Line Items] | ' | ' | ' | ' | |||
Percentage of Employees Covered | 18.00% | ' | ' | ' | |||
Pension Protection Act Zone Status | 'Red | 'Red | ' | ' | |||
FIP/RP Status Pending/Implemented | 'Implemented | [1] | ' | ' | ' | ||
Contributions | $279 | [2] | $256 | [2] | $292 | [2] | ' |
Surcharge Imposed | 'Yes | [1] | ' | ' | ' | ||
Expiration Date of Collective-Bargaining Agreement | 8-Jun-14 | ' | ' | ' | |||
Employer Contribution Rate Per Hour | 0.37 | ' | ' | ' | |||
Contribution Rate Increase (Decrease) | 0.1 | 0.08 | 0.05 | 0.02 | |||
Estimated Future Employer Contributions in Next Fiscal Year | $284 | ' | ' | ' | |||
[1] | The collective-bargaining agreement requires the Company to contribute to the plan at the rate of $0.37 per compensated hour for each covered employee during the life of the collective-bargaining agreement. The Company will make additional contributions, as mandated by law, in accordance with the agreed to schedule for the fund's 2010 Rehabilitation Plan. The Rehabilitation Plan was effective June 1, 2010 and requires a surcharge equal to $0.02 per hour (from $0.37 to $0.39) effective June 1, 2010 - May 31, 2011, a surcharge equal to $0.05 per hour (from $0.37 to $0.42) effective June 1, 2011 - May 31, 2012 a surcharge equal to $0.08 per hour (from $0.37 to $0.45) effective June 1, 2012 to May 31, 2013 and a surcharge equal to $0.10 per hour (from $0.37 to $0.47) effective June 1, 2013 to May 31, 2014. Based upon current employment and benefit levels, the Company's contributions to the multi-employer pension plan are expected to be approximately $284 for 2014. | ||||||
[2] | The Company's contributions to the plan do not represent more than 5% of the total contributions to the plan for the most recent plan year available. |
Employee_Benefit_Plans_Other_P
Employee Benefit Plans (Other Postretirement Plans - Funded Status) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Rate | Rate | ||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit obligation at beginning of year | $694 | $733 | ' |
Service cost | 7 | 7 | 7 |
Interest cost | 23 | 26 | 33 |
Participant contributions | 15 | 15 | ' |
Actuarial gain | -137 | -80 | ' |
Benefits paid | -5 | -11 | ' |
Medicare Part D subsidy | 1 | 4 | ' |
Benefit obligation at end of year | 598 | 694 | 733 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at beginning of year | 0 | 0 | ' |
Employer contributions | -11 | -8 | ' |
Participant contributions | 15 | 15 | ' |
Benefits paid | -5 | -11 | ' |
Medicare Part D subsidy | 1 | 4 | ' |
Fair value of plan assets at end of year | 0 | 0 | 0 |
Unfunded amount | -598 | -694 | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' |
Accrued expenses | 18 | 17 | ' |
Other long-term liabilities | 580 | 677 | ' |
Total liability | 598 | 694 | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Expected Future Benefit Payments, Next Twelve Months | 18 | ' | ' |
Expected Future Benefit Payments, Year Two | 18 | ' | ' |
Expected Future Benefit Payments, Year Three | 18 | ' | ' |
Expected Future Benefit Payments, Year Four | 18 | ' | ' |
Expected Future Benefit Payments, Year Five | 18 | ' | ' |
Expected Future Benefit Payments, Five Fiscal Years Thereafter | 96 | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' | ' |
Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.16% | 2.81% | ' |
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | ' | ' | ' |
Health care cost trend assumed for next year | 8.00% | 9.00% | ' |
Rate to which the cost trend is assumed to decline | 5.00% | 5.00% | ' |
Year that rate reaches the ultimate trend rate | '2017 | '2017 | ' |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract] | ' | ' | ' |
Effect of one percentage point increase on accumulated postretirement benefit obligation | 4 | 3 | ' |
Effect of one percentage point decrease on accumulated postretirement benefit obligation | -3 | -3 | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service cost | 7 | 7 | 7 |
Interest cost | 23 | 26 | 33 |
Amortization of prior service credits | -88 | -88 | -88 |
Recognized net actuarial gains | -35 | -45 | -29 |
Settlement gain | -105 | -48 | -12 |
Net periodic benefit cost (credit) | -198 | -148 | -89 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ' | ' | ' |
Accumulated other comprehensive income (loss), net prior service credits, before tax | -190 | ' | ' |
Accumulated other comprehensive income (loss), unrecognized actuarial gains, before tax | -397 | ' | ' |
Accumulated other comprehensive income (loss), before tax | -587 | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year [Abstract] | ' | ' | ' |
Amortization of prior service credits | -88 | ' | ' |
Amortization of unrecognized actuarial gains | -39 | ' | ' |
Amounts that will be amortized from accumulated other comprehensive income (loss) in next fiscal year | ($127) | ' | ' |
Income_Taxes_Components_of_Inc
Income Taxes Components of Income Tax Expense (Benefit) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Current | ' | ' | ' |
Federal | $216 | $154 | $725 |
State | 178 | 88 | 213 |
Total current | 394 | 242 | 938 |
Deferred | ' | ' | ' |
Federal | -955 | -592 | -234 |
State | -82 | -51 | -20 |
Total deferred | -1,037 | -643 | -254 |
Income tax provision (benefit) | ($643) | ($401) | $684 |
Income_Taxes_Income_Tax_Reconc
Income Taxes Income Tax Reconciliation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Rate | Rate | Rate | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ' | ' | ' |
Federal statutory rate | 35.00% | 35.00% | 35.00% |
Statutory rate applied to income (loss) from continuing operations before taxes | $1,650 | ($369) | $684 |
Plus state income taxes, net of federal tax effect | 96 | 24 | 130 |
Total statutory provision (benefit) | 1,746 | -345 | 814 |
Nondeductible meals and entertainment | 112 | 88 | 83 |
Domestic production activities deduction | -208 | 0 | 0 |
Federal tax credits | -1,326 | 0 | -179 |
Goodwill | 283 | 0 | 0 |
Change in valuation allowance | -1,190 | 0 | 0 |
Non-taxable insurance proceeds | -71 | 0 | -174 |
Stock-based compensation | 0 | 14 | 61 |
Other items | 11 | -158 | 79 |
Income tax provision (benefit) | ($643) | ($401) | $684 |
Income_Taxes_Income_Tax_Reconc1
Income Taxes Income Tax Reconciliation, Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Change in valuation allowance | $1,190 | $0 | $0 |
Federal tax credits | 520 | ' | ' |
Research and development tax credits | 304 | ' | ' |
Income Taxes Paid, Net | 58 | 1,318 | 97 |
Income Tax Settlement | ' | ' | $1,300 |
Income_Taxes_Components_of_Def
Income Taxes Components of Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Inventories | $2,226 | $2,324 |
Retirement benefits | 3,408 | 3,464 |
Federal/State net operating losses | 2,936 | 3,221 |
Federal/State tax credit carryforwards | 1,740 | 2,111 |
Allowances for bad debts, claims and discounts | 2,527 | 1,845 |
Other | 5,279 | 5,497 |
Total deferred tax assets | 18,116 | 18,462 |
Valuation allowance | -3,748 | -4,938 |
Net deferred tax assets | 14,368 | 13,524 |
Deferred tax liabilities: | ' | ' |
Property, plant and equipment | 11,818 | 11,733 |
Total deferred tax liabilities | 11,818 | 11,733 |
Net deferred tax assets | 2,550 | 1,791 |
Balance sheet classification: | ' | ' |
Current deferred tax assets | 6,622 | 5,615 |
DEFERRED INCOME TAXES | 4,072 | 3,824 |
Net deferred tax assets | $2,550 | $1,791 |
Income_Taxes_Components_of_Def1
Income Taxes Components of Deferred Tax Assets and Liabiliities, Narrative (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | Y | |
Income Tax Disclosure [Abstract] | ' | ' |
Federal/State net operating losses | $2,936 | $3,221 |
Operating Loss Carryforwards | 67,222 | ' |
Federal/State tax credit carryforwards | 1,740 | 2,111 |
Operating Loss Carryforwards and Tax Credit Carryforwards, Minimum Years Until Expiration | 5 | ' |
Operating Loss Carryforwards and Tax Credit Carryforwards, Maximum Years Until Expiration | 10 | ' |
Deferred Tax Assets, Valuation Allowance | 3,748 | 4,938 |
Net deferred tax assets | $2,550 | $1,791 |
Income_Taxes_Unrecognized_Tax_
Income Taxes (Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Tax Contingency [Line Items] | ' | ' | ' |
Balance at beginning of year | $5 | $16 | $47 |
Additions based on tax positions taken during a prior period | 250 | 0 | 0 |
Additions based on tax positions taken during a current period | 41 | 0 | 0 |
Reductions related to settlement of tax matters | 0 | 0 | -17 |
Reductions related to a lapse of applicable statute of limitations | -5 | -11 | -14 |
Balance at end of year | 291 | 5 | 16 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $0 | $0 | ' |
Common_Stock_and_Earnings_Loss2
Common Stock and Earnings (Loss) Per Share Common and Preferred Stock (Details) (USD $) | Dec. 28, 2013 | Dec. 29, 2012 |
Class of Stock [Line Items] | ' | ' |
Common stock, shares authorized | 80,000,000 | 80,000,000 |
Common stock, par value | $3 | $3 |
Common stock, shares issued | 12,441,356 | 12,173,961 |
Common Class A [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Common stock, shares authorized | 80,000,000 | ' |
Common stock, par value | $3 | ' |
Common Class B [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Common stock, shares authorized | 16,000,000 | ' |
Common stock, par value | $3 | ' |
Votes Per Share of Class B Common Stock | 20 | ' |
Common Class C [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Common stock, shares authorized | 200,000,000 | ' |
Common stock, par value | $3 | ' |
Common stock, shares issued | 0 | ' |
Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Preferred Stock, Shares Authorized | 16,000,000 | ' |
Common_Stock_and_Earnings_Loss3
Common Stock and Earnings (Loss) Per Share (Details) (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |||
Basic earnings (loss) per share: | ' | ' | ' | |||
Income (loss) from continuing operations | $5,358 | ($653) | $1,272 | |||
Less: Allocation of earnings to participating securities | -212 | 0 | -31 | |||
Income (loss) from continuing operations available to common shareholders - basic | 5,146 | -653 | 1,241 | |||
Basic weighted-average shares outstanding (1) | 12,737 | [1] | 12,638 | [1] | 12,585 | [1] |
Basic earnings (loss) per share - continuing operations | $0.40 | ($0.05) | $0.10 | |||
Diluted earnings (loss) per share: | ' | ' | ' | |||
Income (loss) from continuing operations available to common shareholders - basic | 5,146 | -653 | 1,241 | |||
Add: Undistributed earnings reallocated to unvested shareholders | 2 | 0 | 0 | |||
Income (loss) from continuing operations available to common shareholders - basic | $5,148 | ($653) | $1,241 | |||
Effect of dilutive securities: | ' | ' | ' | |||
Stock options (2) | 54 | [2] | 0 | [2] | 1 | [2] |
Directors' stock performance units (2) | 61 | [2] | 0 | [2] | 37 | [2] |
Diluted weighted-average shares outstanding (1)(2) | 12,852 | [1],[2] | 12,638 | [1],[2] | 12,623 | [1],[2] |
Diluted earnings (loss) per share - continuing operations | $0.40 | ($0.05) | $0.10 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 510 | 827 | 1,337 | |||
[1] | Includes Common and Class B Common shares, less shares held in treasury, in thousands. | |||||
[2] | Because their effects are anti-dilutive, shares issuable under stock option plans where the exercise price is greater than the average market price of the Company's Common Stock at the end of the relevant period, directors' stock performance units, and shares issuable on conversion of subordinated debentures into shares of Common Stock have been excluded. Aggregate shares excluded were 510 in 2013, 827 shares in 2012 and 1,337 shares in 2011. |
Stock_Plans_and_Stock_Compensa2
Stock Plans and Stock Compensation Expense (Details) (USD $) | 12 Months Ended | |||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 25, 2010 | Dec. 26, 2009 | Dec. 30, 2006 | Mar. 12, 2013 | Aug. 21, 2012 | Mar. 12, 2012 | Mar. 14, 2011 | Mar. 02, 2010 | Jun. 06, 2006 |
Y | Y | Y | Y | Y | Rate | |||||||
Y | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Market Value Per Share, Calculation of Shares | $5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | $847 | $937 | $663 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | '4 years | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' |
Age Eligible for Retirement | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Stock Granted in Period | ' | ' | ' | ' | ' | ' | 173,249 | 48,000 | 241,233 | 91,340 | 100,940 | 125,000 |
Grant Date Fair Value of Restricted Stock | ' | ' | ' | ' | ' | ' | 899 | 156 | 998 | 417 | 266 | 1,556 |
Weighted Average Grant Date Fair Value of Resticted Stock | ' | ' | ' | ' | ' | ' | $5.19 | $3.25 | $4.13 | $4.57 | $2.63 | $12.45 |
Minimum Award Vesting Period of Restricted Stock Issued | 2 | 2 | 2 | 2 | ' | 2 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Awards, Maximum Award Vesting Period | 14 | 15 | 16 | 17 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | ' | ' | ' | ' | ' | 92.00% | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Market Condition, Increase in Market Value, Percentage | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Description and Terms | ' | ' | ' | ' | '1 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Minimum Years from Grant Date to Achieve Market Condition | ' | ' | ' | ' | 3 | 5 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost | ' | ' | ' | ' | $41 | ' | ' | ' | ' | ' | ' | ' |
Primary Long-Term Incentive Award [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Career Shares Award [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2006 Stock Awards Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Authorized | ' | 800,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2006 Stock Awards Plan, as amended in 2010 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Authorized | 1,300,000 | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2006 Stock Awards Plan, as amended in 2013 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Authorized | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Plans_and_Stock_Compensa3
Stock Plans and Stock Compensation Expense Stock Plans and Stock Compensation (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 25, 2010 |
Share-based Arrangements with Nonemployee Directors [Abstract] | ' | ' | ' | ' |
Minimum Market Value Per Share, Calculation of Shares | $5 | ' | ' | ' |
Restricted Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' | ' |
Outstanding | 464,886 | 306,529 | 301,179 | ' |
Weighted-Average Grant Date Fair Value of Outstanding Shares | $6.64 | $6.57 | $8 | $8.61 |
Granted | 173,249 | 289,233 | 91,340 | ' |
Weighted-Average Grant Date Fair Value of Awards Granted During the Year | $5.19 | $3.99 | $4.57 | ' |
Vested | -112,336 | -113,647 | -85,990 | ' |
Weighted-Average Grant Date Fair Value of Awards Vested | $4.15 | $4.20 | $6.51 | ' |
Forfeited | 0 | -17,229 | 0 | ' |
Weighted-Average Grant Date Fair Value of Forfeitures | $0 | $4.14 | $0 | ' |
Outstanding | 525,799 | 464,886 | 306,529 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' | ' | ' |
Nonvested Awards, Total Compensation Cost Not yet Recognized | $1,260 | ' | ' | ' |
Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '4 years 2 months | ' | ' | ' |
Equity Instruments Other than Options, Vested in Period, Total Fair Value | 669 | 439 | 385 | ' |
Stock Performance Units [Member] | ' | ' | ' | ' |
Share-based Arrangements with Nonemployee Directors [Abstract] | ' | ' | ' | ' |
Nonemployee Directors Fees, Paid in Cash | 12 | ' | ' | ' |
Nonemployee Directors Fees, Value Received in Stock Performance Units | 12 | ' | ' | ' |
Minimum Market Value Per Share, Calculation of Shares | $5 | ' | ' | ' |
Stock Performance Units, Outstanding | 99,640 | ' | ' | ' |
Employee Stock [Member] | ' | ' | ' | ' |
Employee Stock Purchase Plan Disclosures [Abstract] | ' | ' | ' | ' |
Number of Shares Authorized | 108,000 | ' | ' | ' |
Number of Shares Available for Grant | 27,480 | ' | ' | ' |
Shares Issued in Period | 0 | 0 | 0 | ' |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' | ' | ' |
Nonvested Awards, Total Compensation Cost Not yet Recognized | 18 | ' | ' | ' |
Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '0 years 11 months | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' | ' | ' | ' |
Cumulative Rate Per Year, Stock Option Vesting | 25.00% | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' |
Options Outstanding | 697,407 | 786,728 | 786,728 | ' |
Options Outstanding, Weighted-Average Exercise Price | $11.33 | $11 | $10.91 | $10.91 |
Options Granted | 0 | 0 | 0 | ' |
Options Granted, Weighted-Average Exercise Price | $0 | $0 | $0 | ' |
Options Granted, Weighted-Average Fair Value of Options Granted During the Year | $0 | $0 | $0 | ' |
Options Exercised | -37,052 | 0 | 0 | ' |
Options Exercised, Weighted-Average Exercise Price | $5.15 | $0 | $0 | ' |
Options Forfeited | 0 | -89,321 | 0 | ' |
Options Forfeited, Weighted-Average Exercise Price | $0 | $10.20 | $0 | ' |
Options Outstanding | 660,355 | 697,407 | 786,728 | ' |
Options Exercisable | 630,855 | 638,407 | 682,478 | ' |
Options Exercisable, Weighted-Average Exercise Price | $11.63 | $11.56 | $11.81 | ' |
Options Outstanding, Intrinsic Value | 502 | ' | ' | ' |
Options Exercisable, Intrinsic Value | $293 | ' | ' | ' |
Stock_Plans_and_Stock_Compensa4
Stock Plans and Stock Compensation Expense Summary of Stock Options by Exercise Price Range (Details) (USD $) | 12 Months Ended |
Dec. 28, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Domain] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding | 660,355 |
Options Outstanding, Weighted-Average Remaining Contractual Life | '2 years 1 month |
Options Outstanding, Weighted-Average Exercise Price | $11.33 |
Options Exercisable | 630,855 |
Options Exercisable, Weighted-Average Remaining Contractual Life | '1 year 11 months |
Options Exercisable, Weighted-Average Exercise Price | $11.63 |
Exercise Price Range One [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding | 126,750 |
Options Outstanding, Weighted-Average Remaining Contractual Life | '5 years 1 month |
Options Outstanding, Weighted-Average Exercise Price | $4.93 |
Options Exercisable | 97,250 |
Options Exercisable, Weighted-Average Remaining Contractual Life | '4 years 10 months |
Options Exercisable, Weighted-Average Exercise Price | $4.91 |
Exercise Price Range Two [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding | 83,435 |
Options Outstanding, Weighted-Average Remaining Contractual Life | '1 year 4 months |
Options Outstanding, Weighted-Average Exercise Price | $6.96 |
Options Exercisable | 83,435 |
Options Exercisable, Weighted-Average Remaining Contractual Life | '1 year 4 months |
Options Exercisable, Weighted-Average Exercise Price | $6.96 |
Exercise Price Range Three [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding | 450,170 |
Options Outstanding, Weighted-Average Remaining Contractual Life | '1 year 5 months |
Options Outstanding, Weighted-Average Exercise Price | $13.94 |
Options Exercisable | 450,170 |
Options Exercisable, Weighted-Average Remaining Contractual Life | '1 year 5 months |
Options Exercisable, Weighted-Average Exercise Price | $13.94 |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Unrealized gain (loss) on interest rate swaps: | ' | ' | ' |
Before income taxes | $381 | ($767) | ($665) |
Income taxes | 145 | -291 | -253 |
Net of taxes | 236 | -476 | -412 |
Reclassification of loss into earnings from interest rate swaps: | ' | ' | ' |
Before income taxes | 284 | 158 | 433 |
Income taxes | 108 | 60 | 165 |
Net of taxes | 176 | 98 | 268 |
Amortization of unrealized loss on dedesignated interest rate swaps: | ' | ' | ' |
Before income taxes | 158 | 467 | 150 |
Income taxes | 60 | 178 | 57 |
Net of taxes | 98 | 289 | 93 |
Unrecognized net actuarial gain on postretirement benefit plans: | ' | ' | ' |
Before income taxes | 32 | 33 | 108 |
Income taxes | 12 | 13 | 41 |
Net of taxes | 20 | 20 | 67 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans: | ' | ' | ' |
Before income taxes | -35 | -45 | -29 |
Income taxes | -13 | -18 | -11 |
Net of taxes | -22 | -27 | -18 |
Reclassification of prior service credits into earnings from postretirement benefit plans: | ' | ' | ' |
Before income taxes | -88 | -88 | -88 |
Income taxes | -34 | -34 | -33 |
Net of taxes | -54 | -54 | -55 |
Other comprehensive income (loss) | $454 | ($150) | ($57) |
Other_Comprehensive_Income_Los3
Other Comprehensive Income (Loss) (Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Accumulated other comprehensive loss - interest rate swaps | ($654) | ($565) | ($514) |
Accumulated other comprehensive - postretirement liabilities | 416 | 477 | 483 |
Accumulated other comprehensive loss - total | -238 | -88 | -31 |
Unrealized gain (loss) on interest rate swaps | 236 | -476 | -412 |
Reclassification of loss into earnings from interest rate swaps | 176 | 98 | 268 |
Amortization of unrealized loss on dedesignated interest rate swaps | 98 | 289 | 93 |
Unrecognized net actuarial gain on postretirement benefit plans | 20 | 20 | 67 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans | -22 | -27 | -18 |
Reclassification of prior service credits into earnings from postretirement benefit plans | -54 | -54 | -55 |
Accumulated other comprehensive loss - interest rate swaps | -144 | -654 | -565 |
Accumulated other comprehensive - postretirement liabilities | 360 | 416 | 477 |
Accumulated other comprehensive loss - total | 216 | -238 | -88 |
Unrealized gain (loss) on interest rate swaps - income taxes | 145 | -291 | -253 |
Reclassification of loss into earnings from interest rate swaps - income taxes | 108 | 60 | 165 |
Amortization of unrealized loss on dedesignated interest rate swap - income taxes | 60 | 178 | 57 |
Unrecognized net actuarial gain on postretirement plans - income taxes | 12 | 13 | 41 |
Reclassification of net actuarial gain into earnings from postretirement benefit plans - income taxes | -13 | -18 | -11 |
Reclassification of prior service credits into earnings from postretirement benefit plans - income taxes | ($34) | ($34) | ($33) |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Unrecorded Unconditional Purchase Obligation [Line Items] | ' | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | $11,619 | ' | ' |
Letters of Credit Outstanding, Amount | 3 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Purchases | 1,109 | 1,127 | 1,438 |
Unrecorded Unconditional Purchase Obligation, Due in Next Twelve Months | 838 | ' | ' |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | $304 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Capital Leases, Future Minimum Payments Due, Next Twelve Months | $1,040 | ' | ' |
Capital Leases, Future Minimum Payments Due in Two Years | 1,037 | ' | ' |
Capital Leases, Future Minimum Payments Due in Three Years | 919 | ' | ' |
Capital Leases, Future Minimum Payments Due in Four Years | 838 | ' | ' |
Capital Leases, Future Minimum Payments Due in Five Years | 1,037 | ' | ' |
Capital Leases, Future Minimum Payments Due Thereafter | 0 | ' | ' |
Capital Leases, Future Minimum Payments Due | 4,871 | ' | ' |
Capital Leases, Future Minimum Payments, Interest Included in Payments | 590 | ' | ' |
Capital lease obligations | 4,281 | 2,920 | ' |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ' | ' | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 2,421 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Two Years | 2,132 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 1,898 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 1,470 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 1,067 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 4,739 | ' | ' |
Operating Leases, Future Minimum Payments Due | 13,727 | ' | ' |
Leases, Operating [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense | 64 | ' | ' |
Operating Leases, Rent Expense, Minimum Rentals | 7,976 | ' | ' |
Related Party Transaction, Expenses from Transactions with Related Party | 127 | ' | ' |
Operating Leases, Rent Expense, Net | 2,434 | 2,188 | 2,334 |
Leases, Capital [Abstract] | ' | ' | ' |
Capital Leased Assets, Gross | 5,390 | 3,376 | ' |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | $914 | $394 | ' |
Commitments_and_Contingencies_3
Commitments and Contingencies Legal Proceedings (Details) (USD $) | 12 Months Ended |
Dec. 28, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Litigation Settlement, Amount | $400 |
Other_Income_Expense_Details
Other (Income) Expense (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | |
Other operating (income) expense, net: | ' | ' | ' | |
Insurance proceeds (1) | ($202) | $0 | [1] | ($492) |
Loss on property, plant and equipment disposals | 195 | 1 | 37 | |
Retirement expenses | 154 | 201 | 371 | |
Contract settlement | 172 | 0 | 0 | |
Miscellaneous (income) expense | 175 | -134 | -182 | |
Other operating (income) expense, net | $494 | $68 | ($266) | |
[1] | The Company recognized settlement gains of $202 and $492 from company-owned insurance policies during 2013 and 2011, respectively. |
Other_Income_Expense_Component
Other (Income) Expense (Components of Other Nonoperating (Income) Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Other (income) expense, net: | ' | ' | ' |
Gain on non-hedged swaptions | $0 | ($87) | ($43) |
Gain on property, plant and equipment disposals | 0 | -187 | 0 |
Miscellaneous (income) expense | 26 | -3 | -32 |
Other (income) expense, net | $26 | ($277) | ($75) |
Facility_Consolidation_and_Sev2
Facility Consolidation and Severance Expenses, Net (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 31, 2011 |
2008 Facilities Consolidation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Lease Termination Fee | ' | $700 |
Gain on Settlement of Lease Termination | ' | 551 |
Total expenses by activity | 7,410 | ' |
Expected Cost | 0 | ' |
2009 Organization Restructuring [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Incurred Cost for the Period | ' | 12 |
Total expenses by activity | 1,450 | ' |
Expected Cost | 0 | ' |
Equipment and Inventory Relocation [Member] | 2008 Facilities Consolidation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Total expenses by activity | 3,192 | ' |
Severance Pay and Employee Relocation [Member] | 2008 Facilities Consolidation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Total expenses by activity | 1,095 | ' |
Severance Pay and Employee Relocation [Member] | 2009 Organization Restructuring [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Total expenses by activity | 969 | ' |
Computer Systems Conversion Costs [Member] | 2009 Organization Restructuring [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Total expenses by activity | 481 | ' |
Asset Impairments [Member] | 2008 Facilities Consolidation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Total expenses by activity | 1,459 | ' |
Lease Obligations [Member] | 2008 Facilities Consolidation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Total expenses by activity | $1,664 | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Workers' compensation costs | ($23) | ($143) | ($237) |
Environmental remediation costs | -74 | -279 | -196 |
Loss from discontinued operations, before taxes | -97 | -422 | -433 |
Income tax benefit | -29 | -148 | -147 |
Loss from discontinued operations, net of tax | ($68) | ($274) | ($286) |
Discontinued_Operations_Enviro
Discontinued Operations (Environmental Remediation) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
sites | ||
Site Contingency [Line Items] | ' | ' |
Previously Owned Sites with Environmental Obligations | 5 | ' |
Sites that Require Natural Attenuation | 4 | ' |
Accrual for Environmental Loss Contingencies | $1,830 | $1,838 |
Sites with Oxidation-Based Remediation [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Years to Remediate Environmental Obligations | 7 | ' |
Sites with Pump and Treat Remediation [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Years to Remediate Environmental Obligations | 25 | ' |
Sites with Natural Attenuation [Member] | Minimum [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Years to Remediate Environmental Obligations | 10 | ' |
Sites with Natural Attenuation [Member] | Maximum [Member] | ' | ' |
Site Contingency [Line Items] | ' | ' |
Years to Remediate Environmental Obligations | 20 | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 |
Rate | Rate | |
Robert E Shaw [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Ownership of Common Stock, Percentage | 10.00% | ' |
Voting Interest of Common Stock, Percentage | 4.00% | ' |
Related Party Transaction, Purchases from Related Party | $12,000 | $8,000 |
Related Party Transaction, Purchases from Related Party, Percentage | 8.00% | 8.00% |
Robert P Rothman [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Related Party Transaction, Amounts of Transaction | $127 | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | ||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 | Dec. 25, 2010 | Dec. 30, 2006 | Mar. 12, 2013 | Aug. 21, 2012 | Mar. 12, 2012 | Mar. 14, 2011 | Mar. 02, 2010 | Jun. 06, 2006 |
Y | Y | Y | Y | Y | |||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Permitted Purchase Money Indebtedness | $40,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Stock Granted in Period | ' | ' | ' | ' | ' | 173,249 | 48,000 | 241,233 | 91,340 | 100,940 | 125,000 |
Minimum Award Vesting Period of Restricted Stock Issued | 2 | 2 | 2 | 2 | 2 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Awards, Maximum Award Vesting Period | 14 | 15 | 16 | 17 | ' | ' | ' | ' | ' | ' | ' |
Subsequent Event [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Stock Granted in Period | ' | ' | ' | ' | ' | 101,315 | ' | ' | ' | ' | ' |
Minimum Award Vesting Period of Restricted Stock Issued | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Awards, Maximum Award Vesting Period | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 Restructuring Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected Cost | 2,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Expected Cost Year One | 1,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Expected Cost Year Two | $1,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |