Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 26, 2015 | Feb. 17, 2016 | Jul. 11, 2015 | |
Document Information [Line Items] | |||
Entity Registrant Name | ESCALADE INC | ||
Entity Central Index Key | 33,488 | ||
Current Fiscal Year End Date | --12-26 | ||
Entity Filer Category | Accelerated Filer | ||
Trading Symbol | ESCA | ||
Entity Common Stock, Shares Outstanding | 14,190,844 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 26, 2015 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,015 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 182,549,269 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Current Assets: | ||
Cash and cash equivalents | $ 1,982 | $ 3,232 |
Time deposits | 0 | 1,450 |
Receivables, less allowances of $1,086 and $900 | 38,984 | 32,150 |
Inventories | 25,862 | 23,775 |
Prepaid expenses | 2,534 | 1,622 |
Deferred income tax benefit | 1,543 | 925 |
Prepaid income tax | 1,910 | 5,697 |
TOTAL CURRENT ASSETS | 72,815 | 68,851 |
Property, plant and equipment, net | 14,363 | 11,596 |
Intangible assets | 16,868 | 13,465 |
Goodwill | 20,047 | 14,875 |
Investments | 19,644 | 18,949 |
Other assets | 0 | 145 |
TOTAL ASSETS | 143,737 | 127,881 |
Current Liabilities: | ||
Notes payable | 19,776 | 16,200 |
Current portion of long-term debt | 1,810 | 1,586 |
Trade accounts payable | 2,547 | 1,853 |
Accrued liabilities | 14,174 | 12,107 |
TOTAL CURRENT LIABILITIES | 38,307 | 31,746 |
Long-term debt | 1,750 | 3,360 |
Deferred income tax liability | 7,200 | 2,996 |
TOTAL LIABILITIES | 47,257 | 38,102 |
Commitments and contingencies | $ 0 | $ 0 |
Stockholders' Equity: | ||
Preferred stock: Authorized 1,000,000 shares; no par value, none issued | ||
Common stock Authorized: 30,000,000 shares, no par value Issued and outstanding: 2015 - 14,179,844 shares, 2014 - 13,998,090 shares | $ 14,180 | $ 13,998 |
Retained earnings | 85,478 | 77,745 |
Accumulated other comprehensive loss | (3,178) | (1,964) |
TOTAL STOCKHOLDERS' EQUITY | 96,480 | 89,779 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 143,737 | $ 127,881 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Receivables allowance (in dollars) | $ 1,086 | $ 900 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 14,179,844 | 13,998,090 |
Common stock, shares outstanding | 14,179,844 | 13,998,090 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Net sales | $ 155,542 | $ 137,975 | $ 132,991 |
Costs and Expenses | |||
Cost of products sold | 112,068 | 96,912 | 92,991 |
Selling, administrative and general expenses | 27,775 | 22,938 | 21,453 |
Amortization | 2,881 | 2,621 | 2,363 |
Operating Income | 12,818 | 15,504 | 16,184 |
Other Income (Expense) | |||
Interest expense | (470) | (447) | (404) |
Equity in earnings of affiliates | 2,993 | 3,923 | 2,934 |
Other income | 333 | 803 | 0 |
Income Before Income Taxes from Continuing Operations | 15,674 | 19,783 | 18,714 |
Provision for Income Taxes from Continuing Operations | 4,068 | 6,438 | 6,119 |
Net Income from Continuing Operations | 11,606 | 13,345 | 12,595 |
Discontinued Operations | |||
Loss from operations | 0 | (611) | (2,026) |
Loss on classification as held for sale | 0 | (12,945) | 0 |
Gain on disposal (includes $2,565 of accumulated other comprehensive income reclassification from foreign currency translation adjustment) | 0 | 5,929 | 0 |
Provision (benefit) for income taxes | 0 | (6,099) | 764 |
Net Loss from Discontinued Operations | 0 | (1,528) | (2,790) |
Net Income | $ 11,606 | $ 11,817 | $ 9,805 |
Basic Earnings Per Share Data: | |||
Income from continuing operations (in dollars per share) | $ 0.82 | $ 0.96 | $ 0.93 |
Income (Loss) from discontinued operations (in dollars per share) | 0 | (0.11) | (0.20) |
Net Income (in dollars per share) | 0.82 | 0.85 | 0.73 |
Diluted Earnings Per Share Data: | |||
Income from continuing operations | 0.82 | 0.95 | 0.92 |
Loss from discontinued operations | 0 | (0.11) | (0.20) |
Net Income | $ 0.82 | $ 0.84 | $ 0.72 |
Consolidated Statements of Ope5
Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | $ 0 | $ 2,565 | $ 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Net Income | $ 11,606 | $ 11,817 | $ 9,805 |
Foreign currency translation adjustment before reclassifications | (1,214) | (4,318) | 826 |
Amounts reclassified from comprehensive income due to divesture | 0 | (2,565) | 0 |
Comprehensive Income | $ 10,392 | $ 4,934 | $ 10,631 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at Dec. 29, 2012 | $ 80,457 | $ 13,427 | $ 62,937 | $ 4,093 |
Balance (in shares) at Dec. 29, 2012 | 13,427 | |||
Other comprehensive income (loss) | 826 | 826 | ||
Net income | 9,805 | 9,805 | ||
Expense of stock options | 557 | 557 | ||
Exercise of stock options | 636 | $ 184 | 452 | |
Exercise of stock options (in shares) | 184 | |||
Settlement of restricted stock units | 0 | $ 17 | (17) | |
Settlement of restricted stock units (in shares) | 17 | |||
Tax benefit from settlement of stock compensation | 110 | 110 | ||
Dividends declared | (4,622) | (4,622) | ||
Stock issued to directors as compensation | 186 | $ 29 | 157 | |
Stock issued to directors as compensation (in shares) | 29 | |||
Balance at Dec. 28, 2013 | 87,955 | $ 13,657 | 69,379 | 4,919 |
Balance (in shares) at Dec. 28, 2013 | 13,657 | |||
Other comprehensive income (loss) | (6,883) | (6,883) | ||
Net income | 11,817 | 11,817 | ||
Expense of stock options | 716 | 716 | ||
Exercise of stock options | 1,386 | $ 301 | 1,085 | |
Exercise of stock options (in shares) | 301 | |||
Settlement of restricted stock units | 0 | $ 34 | (34) | |
Settlement of restricted stock units (in shares) | 34 | |||
Dividends declared | (5,294) | (5,294) | ||
Stock issued to directors as compensation | 82 | $ 6 | 76 | |
Stock issued to directors as compensation (in shares) | 6 | |||
Balance at Dec. 27, 2014 | 89,779 | $ 13,998 | 77,745 | (1,964) |
Balance (in shares) at Dec. 27, 2014 | 13,998 | |||
Other comprehensive income (loss) | (1,214) | (1,214) | ||
Net income | 11,606 | 11,606 | ||
Expense of stock options | 719 | 719 | ||
Exercise of stock options | 937 | $ 156 | 781 | |
Exercise of stock options (in shares) | 156 | |||
Settlement of restricted stock units | 0 | $ 19 | (19) | |
Settlement of restricted stock units (in shares) | 19 | |||
Tax benefit from settlement of stock compensation | 701 | 701 | ||
Tax withholding for equity awards | (79) | (79) | ||
Dividends declared | (6,072) | (6,072) | ||
Stock issued to directors as compensation | 103 | $ 7 | 96 | |
Stock issued to directors as compensation (in shares) | 7 | |||
Balance at Dec. 26, 2015 | $ 96,480 | $ 14,180 | $ 85,478 | $ (3,178) |
Balance (in shares) at Dec. 26, 2015 | 14,180 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Operating Activities: | |||
Net income | $ 11,606 | $ 11,817 | $ 9,805 |
Reconciling adjustments: | |||
Depreciation and amortization | 5,218 | 4,383 | 3,844 |
Provision for doubtful accounts | 159 | (245) | 317 |
Stock option and restricted stock unit expense | 719 | 716 | 557 |
Equity in net income of joint venture investments | (2,993) | (3,923) | (2,934) |
Deferred income taxes | 1,696 | (1,197) | 896 |
Additional discontinued operations activities | 0 | 6,672 | 2,896 |
Gain from insurance proceeds for involuntary conversion | 0 | (603) | 0 |
Loss (gain) on disposals of assets | 1 | (10) | 0 |
Dividends received from equity method investments | 928 | 919 | 617 |
Changes in | |||
Accounts receivable | (6,053) | 6,739 | (10,090) |
Inventories | (1,121) | (1,559) | 3,086 |
Prepaids | 2,887 | (4,658) | (548) |
Other assets | 0 | 0 | 35 |
Income tax payable | 0 | 0 | (710) |
Accounts payable and accrued expenses | 2,416 | 245 | 1,236 |
Net cash provided by operating activities | 15,463 | 19,296 | 9,007 |
Investing Activities: | |||
Purchase of property and equipment | (5,067) | (2,663) | (2,169) |
Acquisitions | (10,678) | (10,630) | (6,485) |
Net sale (purchase) of short-term time deposits | 1,450 | 250 | (500) |
Discontinued operations activities | 0 | 5,700 | (186) |
Proceeds from insurance for involuntary conversion | 0 | 603 | 0 |
Proceeds from sale of property and equipment | 0 | 26 | 1 |
Net cash (used in) investing activities | (14,295) | (6,714) | (9,339) |
Financing Activities: | |||
Dividends paid | (6,072) | (5,294) | (4,622) |
Net decrease in overdraft facility | 0 | 0 | (2,452) |
Net (decrease) increase in notes payable | 3,577 | (5,500) | 4,345 |
Proceeds from exercise of stock options | 937 | 1,386 | 636 |
Proceeds from restated credit agreement | 0 | 0 | 1,000 |
Change in long-term debt | (1,585) | (1,563) | 446 |
Tax benefit from settlement of stock compensation | 701 | 0 | 110 |
Tax withholding for equity awards | (79) | 0 | 0 |
Director stock compensation | 103 | 82 | 186 |
Net cash (used in) financing activities | (2,418) | (10,889) | (351) |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 0 | (807) | 485 |
Increase (Decrease) in Cash and Cash Equivalents | (1,250) | 886 | (198) |
Cash and Cash Equivalents, beginning of year (includes zero, $1,255 and $1,050 respectively of cash reported as assets held for sale) | 3,232 | 2,346 | 2,544 |
Cash and Cash Equivalents, end of year (includes zero, zero and $1,255 respectively of cash reported as assets held for sale) | 1,982 | 3,232 | 2,346 |
Supplemental Cash Flows Information | |||
Interest paid | 465 | 600 | 809 |
Income taxes paid | 108 | 5,208 | 4,546 |
Seller note issued in purchase of real estate | 0 | 0 | 2,300 |
Dividends payable | 4 | 0 | $ 0 |
Information regarding the Company's acquisitions in 2015 and 2014 are as follows: | |||
Fair value of assets acquired | 13,269 | 10,577 | |
Cash paid for assets | 10,678 | 10,438 | |
Liabilities assumed | 2,391 | 139 | |
Note payable for deferred purchase price obligation | $ 200 | $ 0 |
Consolidated Statements of Cas9
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | Dec. 28, 2012 |
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents | $ 0 | $ 0 | $ 1,255 | $ 1,050 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 26, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | Note 1 Nature of Operations and Summary of Significant Accounting Policies Escalade, Incorporated and its wholly-owned subsidiaries (Escalade, the Company, we, us or our) are engaged in the manufacture and sale of sporting goods products. On June 30, 2014, the Company sold its Print Finishing business. On October 1, 2014, the Company sold its Information Security business. The divestiture of these two divisions accomplished the Company’s complete exit from the Information Security and Print Finishing segment that is reported as discontinued operations. The Company is headquartered in Evansville, Indiana and has manufacturing facilities in the United States of America and Mexico. The Company sells products to customers primarily in North America with minimal sales throughout the remainder of the world. The consolidated financial statements include the accounts of Escalade, Incorporated and its wholly-owned subsidiaries. All material inter-company accounts and transactions have been eliminated. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The books and records of subsidiaries located in foreign countries are maintained according to generally accepted accounting principles in those countries. Upon consolidation, the Company evaluates the differences in accounting principles and determines whether adjustments are necessary to convert the foreign financial statements to the accounting principles upon which the consolidated financial statements are based. As a result of this evaluation no material adjustments were identified. We have revised the presentation of dividends received from equity method investments in our Consolidated Statements of Cash Flows. Previously, we had reported the dividends within the investing section of the Consolidated Statements of Cash Flows. As of December 26, 2015, we report the dividends within the operating section of the Consolidated Statements of Cash Flows. Year Ended December 27, 2014 As Previously Revision As Revised In Thousands Net cash provided by operating activities $ 18,377 $ 919 $ 19,296 Net cash used in investing activities (5,795) (919) (6,714) Year Ended December 28, 2013 As Previously Revision As Revised In Thousands Net cash provided by operating activities $ 8,390 $ 617 $ 9,007 Net cash used in investing activities (8,722) (617) (9,339) The Company’s fiscal year is a 52 or 53 week period ending on the last Saturday in December. Fiscal year 2015 was 52 weeks long, ending December 26, 2015. Fiscal year 2014 was 52 weeks long, ending on December 27, 2014. Fiscal year 2013 was 52 weeks long, ending on December 28, 2013. Highly liquid financial instruments with insignificant interest rate risk and with original maturities of three months or less are classified as cash and cash equivalents. Revenue from the sale of the Company’s products is recognized as products are shipped to customers and accounts receivable are stated at the amount billed to customers. Interest and late charges billed to customers are not material and, because collection is uncertain, are not recognized until collected and are therefore not included in accounts receivable. The Company provides an allowance for doubtful accounts which is described in Note 2 Certain Significant Estimates. Inventory cost is computed on a currently adjusted standard cost basis (which approximates actual cost on a current average or first-in, first-out basis). Work in process and finished goods inventory are determined to be saleable based on a demand forecast within a specific time horizon, generally one year or less. Inventory in excess of saleable amounts is reserved, and the remaining inventory is valued at the lower of cost or market. This inventory valuation reserve totaled $ 471 537 In Thousands 2015 2014 Raw materials $ 3,621 $ 3,950 Work in process 4,297 3,967 Finished goods 17,944 15,858 $ 25,862 $ 23,775 Property, plant and equipment are recorded at cost. Depreciation and amortization are computed for financial reporting purposes principally using the straight-line method over the following estimated useful lives: buildings, 20 30 5 15 2 4 In Thousands 2015 2014 Land $ 2,049 $ 2,049 Buildings and leasehold improvements 18,964 16,951 Machinery and equipment 22,179 19,852 Total cost 43,192 38,852 Accumulated depreciation and amortization (28,829) (27,256) $ 14,363 $ 11,596 The Company evaluates the recoverability of certain long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Estimates of future cash flows used to test recoverability of long-lived assets include separately identifiable undiscounted cash flows expected to arise from the use and eventual disposition of the assets. Where estimated future cash flows are less than the carrying value of the assets, impairment losses are recognized based on the amount by which the carrying value exceeds the fair value of the assets. No asset impairment was recognized during the years ended 2015, 2014, or 2013 In Thousands 2015 2014 Non-marketable equity investments (equity method) $ 19,644 $ 18,949 Non-Marketable Equity Investments: Where the equity interest is less than 20% and the degree of influence is not significant, the cost method of accounting is employed. Where the equity interest is greater than 20% but not more than 50%, the equity method of accounting is utilized. 3.0 3.9 2.9 928 919 617 During 2013, the decision was made to cease operations and liquidate Escalade International, Ltd. Losses incurred include shutdown costs. As a result, the Company’s 50% portion of net loss for Escalade International, Ltd. for 2013 ($ 343 Goodwill represents the excess of the purchase price over fair value of net tangible and identifiable intangible assets of acquired businesses. Intangible assets consist of patents, consulting agreements, non-compete agreements, customer lists, and trademarks. Goodwill and trademarks are deemed to have indefinite lives and are not amortized, but are subject to impairment testing annually in accordance with guidance included in FASB ASC 350 , Intangibles Goodwill and Other 5 14 5 5 13 The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable, in accordance with guidance in FASB ASC 350, Intangibles Goodwill and Other During 2007, the Company replaced two stock-based compensation plans with a new incentive plan explained in Note 10. The Company accounts for this plan under the recognition and measurement principles of FASB ASC 718, Equity Based Payments The functional currency for the foreign operations of Escalade is the local currency. The translation of foreign currencies into U.S. dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using a weighted average exchange rate during the year. The gains or losses resulting from the translation are included in Accumulated Other Comprehensive Income (Loss) in the Consolidated Statements of Stockholders’ Equity and are excluded from net income. Gains or losses resulting from foreign currency transactions are included in selling, general and administrative expense in the Consolidated Statements of Operations and were insignificant in fiscal years 2015, 2014, and 2013. Cost of products sold is comprised of those costs directly associated with or allocated to the products sold and include materials, labor and factory overhead. In Thousands 2015 2014 2013 Proceeds from insurance for involuntary conversion $ $ 603 Rent income from real estate 212 106 Other 121 94 $ 333 $ 803 $ Income tax in the consolidated statement of operations includes deferred income tax provisions or benefits for all significant temporary differences in recognizing income and expenses for financial reporting and income tax purposes. A valuation allowance is established if it is more likely than not that a deferred tax asset will not be realized. Research and development costs are charged to expense as incurred. Research and development costs incurred during 2015, 2014 and 2013 were approximately $ 1.5 1.7 1.2 Certain reclassifications have been made to prior year financial statements to conform to the current year financial statement presentation. These reclassifications had no effect on net earnings. In November 2015, the FASB issued ASU 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.” ASU 2015-17 eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The amendments may be applied prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Management is evaluating the provisions of this statement and the impact it will have on the Company’s financial statements. |
Certain Significant Estimates
Certain Significant Estimates | 12 Months Ended |
Dec. 26, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Note 2 Certain Significant Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities; the disclosure of contingent assets and liabilities at the date of the consolidated financial statements; and the reported amounts of revenues and expenses during the reporting period. These estimates and judgments are evaluated on an ongoing basis and are based on experience; current and expected future conditions; third party evaluations; and various other assumptions believed reasonable under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities as well as identifying and assessing the accounting treatment with respect to commitments and liabilities. Actual results may differ from the estimates and assumptions used in the financial statements and related notes. Listed below are certain significant estimates and assumptions related to the preparation of the consolidated financial statements: Goodwill and Intangible Assets The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable, in accordance with guidance in FASB ASC 350, Intangibles Goodwill and Other. A qualitative assessment is first performed to determine if the fair value of the reporting unit is "more likely than not" less than the carrying value. If so, we proceed to step one of the two-step goodwill impairment test, in which the fair value of the reporting unit is compared to its carrying value. If not, then performance of the second step of the goodwill impairment test is not necessary. If the carrying value of goodwill exceeds the implied estimated fair value calculated in the second step, an impairment charge to current operations is recorded to reduce the carrying value to the implied estimated fair value. Other intangible assets are amortized using the straight-line method over the following lives: consulting agreements, the life of the agreement; customer lists, 5 14 5 5 13 There are inherent assumptions and judgments required in the analysis of goodwill and intangible impairment. Product Warranty The Company provides limited warranties on certain of its products, for varying periods. Generally, the warranty periods range from 90 days to one year. However, some products carry extended warranties of seven-year, ten-year, and lifetime warranties. The Company records an accrued liability and reduction in sales for estimated future warranty claims based upon historical experience and management’s estimate of the level of future claims. Changes in the estimated amounts recognized in prior years are recorded as an adjustment to the accrued liability and sales in the current year. In Thousands 2015 2014 2013 Beginning balance $ 695 $ 620 $ 523 Additions 1,459 1,156 978 Deductions (1,307) (1,081) (881) Ending balance $ 847 $ 695 $ 620 Inventory Valuation Reserves The Company evaluates inventory for obsolescence and excess quantities based on demand forecasts based on specified time frames; usually one year. The demand forecast is based on historical usage, sales forecasts and current as well as anticipated market conditions. All amounts in excess of the demand forecast are deemed to be excess or obsolete and a reserve is established based on the anticipated net realizable value. In Thousands 2015 2014 2013 Beginning balance $ 537 $ 469 $ 414 Additions 470 287 426 Deductions (536) (219) (371) Ending balance $ 471 $ 537 $ 469 Allowance for Doubtful Accounts The Company provides an allowance for doubtful accounts based upon a review of outstanding receivables, historical collection information and existing economic conditions. Accounts receivable are ordinarily due between 30 and 60 days after the issuance of the invoice. Accounts are considered delinquent when more than 90 days past due. Delinquent receivables are reserved or written off based on individual credit evaluation and specific circumstances of the customer. In Thousands 2015 2014 2013 Beginning balance $ 900 $ 1,104 $ 787 Additions 159 251 475 Deductions 27 (455) (158) Ending balance $ 1,086 $ 900 $ 1,104 Customer Allowances Customer allowances are common practice in the industries in which the Company operates. These agreements are typically in the form of advertising subsidies, volume rebates and catalog allowances and are accounted for as a reduction to gross sales. The Company reviews such allowances on an ongoing basis and accruals are adjusted, if necessary, as additional information becomes available. In Thousands 2015 2014 2013 Beginning balance $ 2,155 $ 2,494 $ 1,787 Additions 5,312 4,747 4,584 Deductions (5,316) (5,086) (3,877) Ending balance $ 2,151 $ 2,155 $ 2,494 |
Accrued Liabilities
Accrued Liabilities | 12 Months Ended |
Dec. 26, 2015 | |
Payables and Accruals [Abstract] | |
Other Liabilities Disclosure [Text Block] | Note 3 Accrued Liabilities In Thousands 2015 2014 Employee compensation $ 3,341 $ 3,314 Customer related allowances and accruals 5,263 5,055 Other accrued items 5,570 3,738 $ 14,174 $ 12,107 |
Operating Leases
Operating Leases | 12 Months Ended |
Dec. 26, 2015 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Note 4 Operating Leases The Company leases warehouse and office space under non-cancelable operating leases that expire at various dates through 2020. Terms of the leases, including renewals, taxes, utilities, and maintenance, vary by lease. Total rental expense included in the results of operations relating to all leases was $ 0.9 0.7 0.7 In Thousands Amount 2016 $ 468 2017 412 2018 228 2019 201 Thereafter 84 $ 1,393 |
Acquired Intangible Assets and
Acquired Intangible Assets and Goodwill | 12 Months Ended |
Dec. 26, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 5 Acquired Intangible Assets and Goodwill 2015 2014 In Thousands Gross Accumulated Gross Accumulated Patents $ 24,220 $ 22,061 $ 24,220 $ 19,882 Non-compete agreements 2,749 2,192 2,367 2,053 Customer list 9,073 1,112 5,054 548 Trademarks 6,313 122 4,429 122 $ 42,355 $ 25,487 $ 36,070 $ 22,605 Amortization expense was $ 2.9 2.6 2.4 In Thousands 2016 2017 2018 2019 2020 Thereafter Sporting Goods $ 1,922 $ 1,146 $ 943 $ 843 $ 799 $ 5,025 In Thousands Sporting Goods Balance at December 28, 2013 13,113 Acquisition 1,762 Balance at December 27, 2014 $ 14,875 Acquisitions 5,172 Balance at December 26, 2015 $ 20,047 The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable, in accordance with guidance in FASB ASC 350, Intangibles Goodwill and Other |
Equity Interest Investments
Equity Interest Investments | 12 Months Ended |
Dec. 26, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments Disclosure [Text Block] | Note 6 Equity Interest Investments The Company has a 50 10.4 11.4 14.6 4.2 16.0 4.6 0.1 0.3 1.6 50 0.4 In addition, the Company had a 50 50 During 2013, the Company also had a 50 343 In Thousands 2015 2014 Current assets $ 29,300 $ 30,539 Non-current assets 9,908 8,082 Total assets 39,208 38,621 Current liabilities 5,096 7,669 Non-current liabilities 5,835 4,229 Total liabilities 10,931 11,898 Net assets $ 28,277 $ 26,723 2015 2014 2013 Net sales $ 45,688 $ 52,583 $ 48,914 Gross profit 22,122 25,737 23,636 Net income 5,843 7,537 4,914 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 26, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 7 Borrowings On January 21, 2016, the Company amended and restated its existing credit agreement. See “Note 19” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation Financial and Liquidity.” On October 1, 2014, the Company and each of its domestic subsidiaries entered into the Third Amendment to its First Amended and Restated Credit Agreement dated August 27, 2013 (“2013 Restated Credit Agreement”) with its issuing bank, JPMorgan Chase Bank, N.A., and the other lenders identified in the 2013 Restated Credit Agreement (collectively, the “Lender”). The Third Amendment was entered into to permit the Company to sell the Information Security Business and terminate the Euro overdraft facility line of € 1.0 On June 30, 2014, the Company and each of its domestic subsidiaries entered into the Second Amendment to its First Amended and Restated Credit Agreement dated August 27, 2013 with its Lender. Under the terms of the Second Amendment to the 2013 Restated Credit Agreement, the Lender permitted Escalade to sell assets related to its Print Finishing business held by its subsidiary Martin Yale Industries, Inc. The Second Amendment to the 2013 Restated Credit Agreement also permitted Escalade and its subsidiaries that are parties to the 2013 Restated Credit Agreement to extend up to an additional € 1.0 On November 13, 2013, the Company entered into the First Amendment to its First Amended and Restated Credit Agreement dated August 27, 2013 (Restated Credit Agreement) with its issuing bank, JPMorgan Chase Bank, N.A. (Chase). Under the terms of the First Amendment to the 2013 Restated Credit Agreement, the Lender has increased by $ 9.0 31.0 August 27, 2016 The existing term loan in the principal amount of $ 5.0 August 27, 2018 250 The First Amendment to the 2013 Restated Credit Agreement also revised the definitions of “Fixed Charges” and “Fixed Charge Coverage Ratio” and expressly permitted the Company to complete its acquisition of certain assets of DMI Sports, Inc. The 2013 Restated Credit Agreement allows Escalade to request the issuance of letters of credit of up to $ 5,000,000 Funded Debt to Revolving Term ABR Adjusted EBITDA Eurodollar Eurodollar Revolving ABR Term Letter of Commitment Ratio Borrowing Borrowing Borrowing Borrowing Credit Fee Fee Category 1 Greater than or equal to 2.50 to 1.0 2.50 % 2.75 % 0.50 % 0.75 % 2.50 % 0.45 % Category 2 Greater than or equal to 2.25 to 1.0 but less than 2.50 to 1.0 2.25 % 2.50 % 0.25 % 0.50 % 2.25 % 0.40 % Category 3 Greater than or equal to 2.00 to 1.0 but less than 2.50 to 1.0 2.00 % 2.25 % 0.00 % 0.25 % 2.00 % 0.35 % Category 4 Greater than or equal to 1.75 to 1.0 but less than 2.00 to 1.0 1.75 % 2.00 % (0.25) % 0.00 % 1.75 % 0.30 % Category 5 Less than 1.75 to 1.0 1.50 % 1.75 % (0.50) % (0.25) % 1.50 % 0.30 % The Applicable Rate shall be determined as of the end of each quarter based upon the Company’s annual or quarterly consolidated financial statements and shall be effective during the period commencing the date of delivery to the agent. Indebtedness under the 2013 Restated Credit Agreement continues to be collateralized by liens on all of the present and future equity of each of the Company’s domestic subsidiaries and substantially all of the assets of the Company. In addition, each direct and indirect domestic subsidiary of Escalade has unconditionally guaranteed all of the indebtedness of Escalade arising under the 2013 Restated Credit Agreement and has secured its guaranty with a first priority security interest and lien on all of its assets. The Pledge and Security Agreement dated April 30, 2009 by and between Escalade and Chase, and each Pledge and Security Agreement dated April 30, 2009 by and between each such Escalade subsidiary and Chase continue in full force and effect, as amended by the Master Amendment to Pledge and Security Agreements dated May 31, 2010 entered into by Chase, Escalade and each such subsidiary. The Unlimited Continuing Guaranty dated April 30, 2009 applicable to each of Escalade’s domestic subsidiaries continues in full force and effect without change. During the first quarter 2013, the Company entered into a seller-financed agreement for the purchase of its formerly leased real estate in Mexico. The agreement requires sixteen quarterly installments of $ 156 November 30, 2016 0.6 Short - Term Debt In Thousands 2015 2014 Senior secured revolving credit facility of $31.0 million with a maturity of August 27, 2016. The interest rates at December 26, 2015 was 1.862%. $ 19,776 $ 13,500 Note payable for deferred purchase price obligation 200 Short-term debt reclassified from long-term debt 1,610 4,286 $ 21,586 $ 17,786 The weighted average interest rate on short-term debt outstanding at December 26, 2015 and December 27, 2014 was 1.91 1.57 Long - Term Debt In Thousands 2015 2014 Term loan of $5.0 million with a maturity date of August 27, 2018. The interest rate at December 26, 2015, was 2.00%. $ 2,750 $ 3,750 Mortgage payable (Wabash, Indiana Adjustable Rate Economic Development Revenue Refunding Bonds), annual installments are optional, interest varies with short-term rates and is adjustable weekly based on market conditions, maximum rate is 10.00%, rate at December 27, 2014 is 0.31%, due September 2028, secured by real estate and a stand-by letter of credit 2,700 Seller-financed agreement for real estate in Mexico. The agreement requires sixteen quarterly installments of $156 thousand each with a maturity date of November 30, 2016. This agreement has an interest rate of zero percent and is secured by the financed real estate in Mexico. 610 1,196 3,360 7,646 Portion classified as short-term debt (1,610) (4,286) $ 1,750 $ 3,360 Maturities of long-term debt outstanding at December 26, 2015 are as follows: $ 1.6 1.0 0.8 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 26, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 8 Earnings Per Share In Thousands 2015 2014 2013 Weighted average common shares outstanding 14,088 13,853 13,506 Dilutive effect of stock options and restricted stock units 150 214 125 Weighted average common shares outstanding, assuming dilution 14,238 14,067 13,631 Number of anti-dilutive stock options and unvested restricted stock units 4 271 Weighted average common shares outstanding, assuming dilution, includes the incremental shares that would be issued upon the assumed exercise of stock options outstanding. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 26, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Compensation and Employee Benefit Plans [Text Block] | Note 9 Employee Benefit Plans The Company has an employee profit-sharing salary reduction plan, pursuant to the provisions of Section 401(k) of the Internal Revenue Code, for non-union employees. The Company's contribution is a matching percentage of the employee contribution as determined by the Board of Directors annually. 600 532 517 |
Stock Compensation Plans
Stock Compensation Plans | 12 Months Ended |
Dec. 26, 2015 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 10 Stock Compensation Plans In April 2007, Shareholders approved the Escalade, Incorporated 2007 Incentive Plan (2007 Incentive Plan), which is an incentive plan for key employees, directors and consultants with various equity-based incentives as described in the plan document. The 2007 Incentive Plan is a replacement for the 1997 Incentive Stock Option Plan and the 1997 Director Stock Compensation and Option Plan which expired at the end of April 2007. All options issued and outstanding under the expired plans will remain in effect until exercised, expired or forfeited. The 2007 Incentive Plan is administered by the Board of Directors or a committee thereof, which is authorized to determine, among other things, the key employees, directors or consultants who will receive awards under the plan, the amount and type of award, exercise prices or performance criteria, if applicable, and vesting schedules. Under the original terms of the plan and subject to various restrictions contained in the plan document, the total number of shares of common stock which may be issued pursuant to awards under the Plan may not exceed 2,981,491. Restricted Stock Units In 2015, the Company awarded 10,000 restricted stock units to directors and 42,450 restricted stock units to employees. The restricted stock units awarded to directors time vest over two years (one-half one year from grant date and one-half two years from grant date) provided that the director is still a director of the Company at the vest date. Director restricted stock units are subject to forfeiture, except for termination of services as a result of retirement, death or disability, if on the vesting date the director no longer holds a position with the Company. The 2015 restricted stock units awarded to employees vest over four years (one-third two years from grant date, one-third three years from grant date and one-third four years from grant date) provided that the employee is still employed by the Company and that the performance criteria related to the market price of the Company’s stock is satisfied. The criteria is for any 30 consecutive trading days on the NASDAQ Stock Market (or such other principal securities exchange on which the Company’s shares of common stock are then traded) during the period beginning on the grant date and ending on the fourth anniversary thereof, the cumulative average Volume Weighted Average Price per share is at least 15% higher than the closing price per share on the grant date plus any incremental dividends paid above the current quarterly dividend rate of $0.10 per share by the Company during such four year period. The performance criteria for the 38,250 restricted stock units awarded to employees in the first quarter of 2015 was satisfied during the second quarter of 2015. The Company issued no restricted stock units to employees or directors in 2013. A summary of restricted stock unit activity is as follows: Number of Weighted Non-vested stock units as of December 28, 2013 Granted 50,000 $ 10.49 Vested Forfeited Non-vested stock units as of December 27, 2014 50,000 10.49 Vested but unsettled (4,500 ) Outstanding non-vested restricted stock units as of December 27, 2014 45,500 10.49 Granted 52,450 13.91 Vested (21,175 ) 11.65 Forfeited (875 ) 11.63 Non-vested stock units as of December 26, 2015 75,900 $ 12.52 When vesting is dependent on certain market criteria, the fair value of restricted stock units is determined by the use of Monte Carlo techniques. The market price of the Company’s stock on the grant date is used to value restricted stock units where vesting is not contingent on market criteria. In 2015, 2014, and 2013 the Company recognized $542 thousand, $191, and $0 thousand respectively in compensation expense related to restricted stock units and as of December 26, 2015 and December 27, 2014, there was $512 thousand and $334 respectively, of unrecognized compensation expense related to restricted stock units. Stock Options Total compensation expense recorded in the statements of operations for 2015, 2014 and 2013 relating to stock options was $177 thousand, $525 thousand and $557 thousand, respectively. As of December 26, 2015, there were $60 thousand of total unrecognized compensation costs related to stock options. These costs are expected to be recognized over a weighted average period of 0.9 years. No stock options were awarded during 2015. During 2014, the Company awarded 25,000 stock options to directors. The stock options awarded to directors vest at the end of one year and have an exercise price equal to the market price on the date of grant. Director stock options are subject to forfeiture, except for termination of services as a result of retirement, death or disability, if on the vesting date the director no longer holds a position with the Company. No stock options were awarded to employees during 2014. The following table summarizes option activity for each of the three years ended 2015: Incentive Stock Options Director Stock Options Granted Outstanding Granted Outstanding 2015 172,625 15,000 2014 284,375 25,000 60,000 2013 120,000 559,950 37,500 80,000 The fair value of each option grant award is estimated on the grant date using the Black-Scholes-Merton option valuation model using the following assumptions: 2015 2014 2013 Risk-free interest rates 0.68% 0.52% Dividend yields 4.23% 5.97% Volatility factors of expected market price of common stock 35.86% 48.79% to 74.05% Weighted average expected life of the options 1-4 years 1-4 years The following table summarizes stock option transactions for the three years ended 2015: 2015 2014 2013 Shares Option Shares Option Shares Option Outstanding at beginning of year 344,375 $2.56 to$11.86 639,950 $0.64 to$6.07 692,875 $0.64 to 6.07 Issued during year 25,000 $ 11.86 157,500 $5.85 to $6.06 Canceled or expired (500 ) (19,000 ) (27,000 ) Exercised during year (156,250 ) $2.56 to $11.86 (301,575 ) $0.64 to $6.07 (183,425 ) $0.64 to $6.07 Outstanding at end of year 187,625 $5.28 to $11.86 344,375 $2.56 to $11.86 639,950 $0.64 to $6.07 Exercisable at end of year 133,250 158,875 198,825 Weighted-average fair value of options granted during the year $ 3.06 $ 2.21 The total intrinsic value of options exercised was $1.6 million, $2.7 million, and $929 thousand for 2015, 2014 and 2013, respectively. The following table summarizes information about stock options outstanding at December 26, 2015: Options Outstanding Options Exercisable Range of Number of Weighted-Average Weighted-Average Number of Weighted-Average $5.28 - $5.66 75,500 1.2 years $ 5.30 52,125 $ 5.30 $5.85 - $6.06 66,750 2.2 years $ 5.87 35,750 $ 5.89 $6.07 30,375 0.2 years $ 6.07 30,375 $ 6.07 $11.86 15,000 3.2 years $ 11.86 15,000 $ 11.86 187,625 133,250 During the year ended December 26, 2015, the following activity occurred under the Company’s stock option plan: Number of Weighted Average Nonvested balance, beginning of year 185,500 $ 2.85 Granted Vested (130,625 ) $ 2.95 Forfeited (500 ) $ 4.03 Nonvested balance, end of year 54,375 $ 2.60 |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Dec. 26, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 11 Discontinued Operations On October 1, 2014, the Company completed the sale of the Information Security business. The sale of the Information Security business, coupled with the previous sale of our Print Finishing business on June 30, 2014, represented the Company’s exit from the Information Security and Print Finishing segment. As a result, the Information Security and Print Finishing segment has been classified as discontinued operations for all periods presented and certain assets and liabilities in prior periods are classified as held for sale. As a result of the divestiture of the Information Security and Print Finishing segment, the Company incurred a loss on disposal of assets of $ 9.6 2.6 6.1 As of the second quarter of 2014, the Company determined the carrying value of the Information Security business assets was greater than their fair value, less the cost to sell the Information Security business, resulting in an impairment of certain accounts receivables, inventories, long-lived assets, intangible assets and other assets totaling $ 12.9 Years Ended All Amounts in Thousands December 26, December 27, Net sales $ $ 20,865 Cost of products sold 13,813 Selling, administrative and general expenses 7,535 Interest expense 98 Other expense 30 Loss Before Income Taxes (611) Discontinued Operations Loss on classification as held for sale (12,945) Gain on disposal 5,929 Provision (benefit) for income taxes (6,099) Net Loss from Discontinued Operations $ $ (1,528) |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 26, 2015 | |
Statement of Comprehensive Income [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | Note 12 Other Comprehensive Income (Loss) In Thousands 2015 2014 2013 Change in foreign currency translation adjustment before reclassifications $ (1,214) $ (4,318) $ 826 Amounts reclassified from comprehensive income due to divesture $ (2,565) The components of accumulated other comprehensive income (loss), net of tax, were as follows: In Thousands 2015 2014 2013 Foreign currency translation adjustment $ (3,178) $ (1,964) $ 4,919 |
Provision for Taxes
Provision for Taxes | 12 Months Ended |
Dec. 26, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 13 Provision for Taxes In Thousands 2015 2014 2013 Income (loss) before taxes: United States of America (USA) $ 15,674 $ 5,001 $ 19,803 Non USA 7,155 (3,115) $ 15,674 $ 12,156 $ 16,688 Provision for taxes: Current Federal $ 1,670 $ 3 $ 5,060 State 237 306 560 International 566 (26) 1,907 875 5,594 Deferred Federal 1,909 (667) 299 State 252 131 616 International 374 2,161 (536) 1,289 $ 4,068 $ 339 $ 6,883 Continuing Operations $ 4,068 $ 6,438 $ 6,119 Discontinued Operations (6,099) 764 $ 4,068 $ 339 $ 6,883 In Thousands 2015 2014 2013 Income tax at statutory rate $ 5,486 $ 4,255 $ 5,840 Increase (decrease) in income tax resulting from State tax expense, net of federal effect 318 291 764 Federal true-ups (38) 55 (18) Federal tax credits (802) (568) (256) Effect of foreign tax rates (474) (1,107) (362) Valuation allowances (state and foreign) (1,406) 1,400 Captive insurance earnings (361) (398) (390) Incentive stock options 57 155 130 Foreign exchange gain on sale of Information Security (898) Other (118) (40) (225) Recorded provision for income taxes $ 4,068 $ 339 $ 6,883 The provision for income taxes was computed based on financial statement income. In accordance with FASB ASC 740, the Company does not have any uncertain tax positions as of and for the years ended December 26, 2015 and December 27, 2014. Interest costs and penalties related to income taxes are classified as interest expense and selling, general and administrative costs, respectively in the Company’s financial statements. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and multiple state and foreign jurisdictions. The Company is subject to future examinations by federal, state and other tax authorities for all years after 2011. In Thousands 2015 2014 Assets Employee benefits $ 100 $ 120 Valuation reserves 1,897 1,412 Property and equipment 259 566 Stock based compensation 268 191 Federal and state credits 259 878 Net operating loss carry forward 29 1,038 Total assets 2,812 4,205 Liabilities Unrealized equity investment income (3,192) (3,079) Goodwill and intangible assets (4,720) (2,660) Prepaid insurance (122) (102) Total liabilities (8,034) (5,841) Valuation Allowance Beginning balance (435) (8,949) Decrease (increase) during period 8,514 Ending balance (435) (435) $ (5,657) $ (2,071) In Thousands 2015 2014 Deferred income tax asset - current $ 1,543 $ 925 Deferred income tax asset (liability) long-term (7,200) (2,996) $ (5,657) $ (2,071) The Company has state unused net operating losses of approximately $ 517 |
Operating Segment and Geographi
Operating Segment and Geographic Information | 12 Months Ended |
Dec. 26, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 14 Operating Segment and Geographic Information segment In Thousands 2015 2014 2013 Sporting Goods Net revenue $ 155,542 $ 137,975 $ 132,991 Operating income 16,070 18,194 18,469 Interest expense (income) (50) (17) 170 Provision for taxes 6,356 7,420 7,212 Net income 9,771 11,394 11,087 Identifiable assets 116,013 95,506 91,137 Non-marketable equity investments (equity method) Depreciation & amortization 5,218 4,380 3,844 Capital expenditures 5,067 2,739 2,170 Discontinued Operations Net revenue 20,865 30,686 Operating loss (483) (1,687) Interest expense 98 335 Provision (benefit) for taxes (6,099) 764 Net loss (1,528) (2,790) Identifiable assets 23,203 Non-marketable equity investments (equity method) 331 Depreciation & amortization 373 774 Capital expenditures 246 185 All Other Net revenue Operating loss (3,252) (2,689) (2,285) Interest expense 520 465 233 Benefit for taxes (2,288) (982) (1,093) Net income 1,835 1,951 1,508 Identifiable assets 27,724 32,375 27,634 Non-marketable equity investments (equity method) 19,644 18,949 19,455 Depreciation & amortization Capital expenditures Total Net revenue 155,542 158,840 163,677 Operating income 12,818 15,022 14,497 Interest expense 470 546 738 Provision for taxes 4,068 339 6,883 Net income 11,606 11,817 9,805 Identifiable assets 143,737 127,881 141,974 Non-marketable equity investments (equity method) 19,644 18,949 19,786 Depreciation & amortization 5,218 4,753 4,618 Capital expenditures 5,067 2,985 2,355 Each operating segment is individually managed and has separate financial results that are reviewed by the Company’s management. Each segment contains closely related products that are unique to the particular segment. There were no changes to the composition of segments in 2015. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. The Sporting Goods segment consists of home entertainment products such as table tennis tables and accessories; basketball goals; pool tables and accessories; outdoor playsets; soccer and hockey tables; archery equipment and accessories; and fitness, arcade and darting products. Customers include retailers, dealers and wholesalers located throughout North America, Europe and to a lesser the rest of the world. Discontinued Operations contains the divested operations of the Information Security and Print Finishing segment. This segment consisted of products such as high-security data shredders, disintegrators and degaussers, and office machinery used in the office and graphic arts environment. Office environment products include folding machines; and paper trimmers and cutters. Customers include end-users, as well as, retailers, wholesalers, catalogs, specialty dealers and business partners. All Other consist of general and administrative expenses not specifically related to the operating business segments and includes investment income from equity investments. Interest expense is allocated to operating segments based on working capital usage and the provision for taxes is allocated based on a combined federal and state statutory rate of 39.4 Identifiable assets are principally those assets used in each segment. The assets in the all other segment are principally cash and cash equivalents; deferred tax assets; and investments. During 2015, 2014 and 2013 the Company had one customer which accounted for approximately 18 %, 16 16 No other customer accounted for 10% or more of consolidated total revenues. 18 19 20 As of December 26, 2015 and as of December 27, 2014 the Company had a significant portion of its total accounts receivable with one customer. The one customer accounted for approximately 27 23 % of total accounts receivable at December 26, 2015 and December 27, 2014, respectively. As of December 26, 2015, approximately 22 employees of the Company's labor force were covered by a collective bargaining agreement that expires April 30, 2016. Raw materials for Escalade’s various product lines consist of wood, tempered glass, particle board, standard grades of steel and steel tubing, aluminum, engineering plastics, fiberglass and packaging materials. Escalade relies upon domestic, Mexico, and Asian suppliers for these materials and upon various Asian manufacturers for many of its products. In Thousands 2015 2014 2013 North America $ 152,890 $ 135,585 $ 129,435 Europe 1,234 1,408 1,946 Other 1,418 982 1,610 $ 155,542 $ 137,975 $ 132,991 Identified assets by geographic region/country were as follows: In Thousands 2015 2014 2013 North America $ 143,737 $ 127,881 $ 127,393 Europe 14,581 $ 143,737 $ 127,881 $ 141,974 |
Summary of Quarterly Results
Summary of Quarterly Results | 12 Months Ended |
Dec. 26, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | Note 15 Summary of Quarterly Results In thousands, except per share data (unaudited) March 21 July 11 October 3 December 26 2015 Net Sales $ 33,419 $ 43,795 $ 34,584 $ 43,744 Operating Income 4,287 4,157 1,873 2,501 Net Income from Continuing Operations 3,497 3,222 2,028 2,859 Net income from discontinued operations Net income 3,497 3,222 2,028 2,859 Basic Earnings Per Share Data: Income from continuing operations $ 0.25 $ 0.23 $ 0.14 $ 0.20 Income from discontinued operations 0.00 0.00 0.00 0.00 Net Income $ 0.25 $ 0.23 $ 0.14 $ 0.20 Diluted Earnings Per Share Data: Income from continuing operations $ 0.25 $ 0.23 $ 0.14 $ 0.20 Income from discontinued operations 0.00 0.00 0.00 0.00 Net Income $ 0.25 $ 0.23 $ 0.14 $ 0.20 In thousands, except per share data (unaudited) March 22 July 12 October 4 December 27 2014 Net Sales $ 27,721 $ 38,012 $ 31,599 $ 40,643 Operating Income 3,323 3,932 4,216 4,033 Net Income from Continuing Operations 2,264 2,767 3,837 4,477 Net income (loss) from discontinued operations (14) (10,851) 9,784 (447) Net income (loss) 2,250 (8,084) 13,621 4,030 Basic Earnings Per Share Data: Income from continuing operations $ 0.16 $ 0.20 $ 0.28 $ 0.32 Income (loss) from discontinued operations 0.00 (0.78) 0.70 (0.03) Net Income (loss) $ 0.16 $ (0.58) $ 0.98 $ 0.29 Diluted Earnings Per Share Data: Income from continuing operations $ 0.16 $ 0.20 $ 0.27 $ 0.32 Income (loss) from discontinued operations 0.00 (0.77) 0.69 (0.03) Net Income (loss) $ 0.16 $ (0.57) $ 0.96 $ 0.29 |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 26, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Note 16 Acquisitions All of the Company’s acquisitions have been accounted for using the purchase method of accounting. 2015 During 2015, the Company acquired certain assets and liabilities of Onix Sports, Inc. and acquired all of the issued and outstanding shares of capital stock of Goalsetter Systems, Inc. for total consideration of cash and notes of approximately $ 10.3 0.6 The consideration paid by the company for these acquisitions is allocated to the assets acquired, net of the liabilities assumed, based upon their estimated fair values as of the date of the acquisition. The excess of the purchase price over the estimated fair value of the assets acquired, net of the estimated fair value of the liabilities assumed, is recorded as goodwill. In thousands Assets acquired and liabilities assumed: Accounts receivable $ 795 Inventories 966 Other assets 50 Goodwill 5,172 Intangible assets 6,286 Accounts payable (271) Other liabilities (74) Deferred income tax liability (2,046) $ 10,878 2014 On October 22, 2014, the Company acquired substantially all the business and assets of Cue & Case Sales, Inc., a leader in specialty billiard accessories. The total purchase price of $ 10.4 4,060 3,260 1,633 987 372 2013 In November 2013, the Company acquired substantially all of the business and assets of DMI Sports, Inc. relating to DMI’s indoor games and accessories such as darts, table tennis, game tables, and billiards. Escalade believes these assets, including the acquired brands and trade names, will complement Escalade’s existing product lines in this category. Escalade did not acquire the outdoor games business conducted by DMI Sports, which business was retained by DMI Sports. The total price of $ 6.1 2,705 1,095 706 569 300 210 These acquisitions were not and would not have been material to the Company’s net sales, results of operations or total assets during the years ended December 26, 2015, December 27, 2014 and December 28, 2013, respectively. Accordingly, our consolidated results from operations do not differ materially from historical performance as a result of these acquisitions, and therefore, pro-forma results are not presented. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 26, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 17 Commitments and Contingencies The Company is involved in litigation arising in the normal course of its business. The Company does not believe that the disposition or ultimate resolution of existing claims or lawsuits will have a material adverse effect on the business or financial condition of the Company. The Company has entered into various agreements whereby it is required to make royalty and license payments. In Thousands Amount 2016 $ 460 2017 460 2018 375 2019 2020 Thereafter $ 1,295 |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 12 Months Ended |
Dec. 26, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 18 Fair Values of Financial Instruments The following methods were used to estimate the fair value of all financial instruments recognized in the accompanying balance sheets at amounts other than fair values. Cash and Cash Equivalents and Time Deposits Fair values of cash and cash equivalents and time deposits approximate cost due to the short period of time to maturity. Notes Payable and Long-term Debt The Company believes the carrying value of short-term debt, including current portion of long-term debt, and long-term debt adequately reflects the fair value of these instruments. Fair Value Measurements Using 2015 Fair Value Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 1,982 $ 1,982 $ $ Time deposits $ $ $ $ Financial liabilities Note payable and Short-term debt $ 19,776 $ $ 19,776 $ Current portion of Long-term debt $ 1,810 $ $ 1,810 $ Long-term debt $ 1,750 $ $ 1,750 $ Fair Value Measurements Using 2014 Fair Value Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 3,232 $ 3,232 $ $ Time deposits $ 1,450 $ 1,450 $ $ Financial liabilities Note payable and Short-term debt $ 16,200 $ $ 16,200 $ Current portion of Long-term debt $ 1,586 $ $ 1,586 $ Long-term debt $ 3,360 $ $ 3,360 $ |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 26, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 19 Subsequent Events On January 21, 2016, the Company acquired substantially all of the business and assets of Triumph Sports USA, Inc.’s business, a brand known for its innovative lines of indoor and outdoor games. The estimated purchase price of the acquisition is $ 10.0 9.5 1.4 1.4 0.1 0.6 7.7 On January 21, 2016, the Company entered into a Second Amended and Restated Credit Agreement (“Restated Credit Agreement”) with its issuing bank, JP Morgan Chase Bank, N.A. (“Chase”), and the other lenders identified in the Restated Credit Agreement (collectively, the “Lender”). Under the terms of the Restated Credit Agreement, the Lender has made available to the Company a senior revolving credit facility in an increased maximum amount of up to $ 35.0 7.5 |
Nature of Operations and Summ29
Nature of Operations and Summary of Significant Accounting Policies(Policies) | 12 Months Ended |
Dec. 26, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | The consolidated financial statements include the accounts of Escalade, Incorporated and its wholly-owned subsidiaries. All material inter-company accounts and transactions have been eliminated. |
Basis of Accounting, Policy [Policy Text Block] | The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The books and records of subsidiaries located in foreign countries are maintained according to generally accepted accounting principles in those countries. Upon consolidation, the Company evaluates the differences in accounting principles and determines whether adjustments are necessary to convert the foreign financial statements to the accounting principles upon which the consolidated financial statements are based. As a result of this evaluation no material adjustments were identified. We have revised the presentation of dividends received from equity method investments in our Consolidated Statements of Cash Flows. Previously, we had reported the dividends within the investing section of the Consolidated Statements of Cash Flows. As of December 26, 2015, we report the dividends within the operating section of the Consolidated Statements of Cash Flows. Year Ended December 27, 2014 As Previously Revision As Revised In Thousands Net cash provided by operating activities $ 18,377 $ 919 $ 19,296 Net cash used in investing activities (5,795) (919) (6,714) Year Ended December 28, 2013 As Previously Revision As Revised In Thousands Net cash provided by operating activities $ 8,390 $ 617 $ 9,007 Net cash used in investing activities (8,722) (617) (9,339) |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year End The Company’s fiscal year is a 52 or 53 week period ending on the last Saturday in December. Fiscal year 2015 was 52 weeks long, ending December 26, 2015. Fiscal year 2014 was 52 weeks long, ending on December 27, 2014. Fiscal year 2013 was 52 weeks long, ending on December 28, 2013. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Highly liquid financial instruments with insignificant interest rate risk and with original maturities of three months or less are classified as cash and cash equivalents. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts Receivable Revenue from the sale of the Company’s products is recognized as products are shipped to customers and accounts receivable are stated at the amount billed to customers. Interest and late charges billed to customers are not material and, because collection is uncertain, are not recognized until collected and are therefore not included in accounts receivable. The Company provides an allowance for doubtful accounts which is described in Note 2 Certain Significant Estimates. |
Inventory, Policy [Policy Text Block] | Inventories Inventory cost is computed on a currently adjusted standard cost basis (which approximates actual cost on a current average or first-in, first-out basis). Work in process and finished goods inventory are determined to be saleable based on a demand forecast within a specific time horizon, generally one year or less. Inventory in excess of saleable amounts is reserved, and the remaining inventory is valued at the lower of cost or market. This inventory valuation reserve totaled $ 471 537 In Thousands 2015 2014 Raw materials $ 3,621 $ 3,950 Work in process 4,297 3,967 Finished goods 17,944 15,858 $ 25,862 $ 23,775 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation and amortization are computed for financial reporting purposes principally using the straight-line method over the following estimated useful lives: buildings, 20 30 5 15 2 4 In Thousands 2015 2014 Land $ 2,049 $ 2,049 Buildings and leasehold improvements 18,964 16,951 Machinery and equipment 22,179 19,852 Total cost 43,192 38,852 Accumulated depreciation and amortization (28,829) (27,256) $ 14,363 $ 11,596 The Company evaluates the recoverability of certain long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Estimates of future cash flows used to test recoverability of long-lived assets include separately identifiable undiscounted cash flows expected to arise from the use and eventual disposition of the assets. Where estimated future cash flows are less than the carrying value of the assets, impairment losses are recognized based on the amount by which the carrying value exceeds the fair value of the assets. No asset impairment was recognized during the years ended 2015, 2014, or 2013 |
Investment, Policy [Policy Text Block] | Investments In Thousands 2015 2014 Non-marketable equity investments (equity method) $ 19,644 $ 18,949 Non-Marketable Equity Investments: Where the equity interest is less than 20% and the degree of influence is not significant, the cost method of accounting is employed. Where the equity interest is greater than 20% but not more than 50%, the equity method of accounting is utilized. 3.0 3.9 2.9 928 919 617 During 2013, the decision was made to cease operations and liquidate Escalade International, Ltd. Losses incurred include shutdown costs. As a result, the Company’s 50% portion of net loss for Escalade International, Ltd. for 2013 ($ 343 |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over fair value of net tangible and identifiable intangible assets of acquired businesses. Intangible assets consist of patents, consulting agreements, non-compete agreements, customer lists, and trademarks. Goodwill and trademarks are deemed to have indefinite lives and are not amortized, but are subject to impairment testing annually in accordance with guidance included in FASB ASC 350 , Intangibles Goodwill and Other 5 14 5 5 13 The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable, in accordance with guidance in FASB ASC 350, Intangibles Goodwill and Other |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Employee Incentive Plan During 2007, the Company replaced two stock-based compensation plans with a new incentive plan explained in Note 10. The Company accounts for this plan under the recognition and measurement principles of FASB ASC 718, Equity Based Payments |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The functional currency for the foreign operations of Escalade is the local currency. The translation of foreign currencies into U.S. dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet dates and for revenue and expense accounts using a weighted average exchange rate during the year. The gains or losses resulting from the translation are included in Accumulated Other Comprehensive Income (Loss) in the Consolidated Statements of Stockholders’ Equity and are excluded from net income. Gains or losses resulting from foreign currency transactions are included in selling, general and administrative expense in the Consolidated Statements of Operations and were insignificant in fiscal years 2015, 2014, and 2013. |
Cost of Sales, Policy [Policy Text Block] | Cost of Products Sold Cost of products sold is comprised of those costs directly associated with or allocated to the products sold and include materials, labor and factory overhead. |
Other Income Policy [Policy Text Block] | Other Income In Thousands 2015 2014 2013 Proceeds from insurance for involuntary conversion $ $ 603 Rent income from real estate 212 106 Other 121 94 $ 333 $ 803 $ |
Income Tax, Policy [Policy Text Block] | Provision for Income Taxes Income tax in the consolidated statement of operations includes deferred income tax provisions or benefits for all significant temporary differences in recognizing income and expenses for financial reporting and income tax purposes. A valuation allowance is established if it is more likely than not that a deferred tax asset will not be realized. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are charged to expense as incurred. Research and development costs incurred during 2015, 2014 and 2013 were approximately $ 1.5 1.7 1.2 |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made to prior year financial statements to conform to the current year financial statement presentation. These reclassifications had no effect on net earnings. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements In November 2015, the FASB issued ASU 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.” ASU 2015-17 eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The amendments may be applied prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Management is evaluating the provisions of this statement and the impact it will have on the Company’s financial statements. |
Nature of Operations and Summ30
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Condensed Cash Flow Statement [Table Text Block] | The impact of revising our Statements of Cash Flows for the specified prior periods are as follows: Year Ended December 27, 2014 As Previously Revision As Revised In Thousands Net cash provided by operating activities $ 18,377 $ 919 $ 19,296 Net cash used in investing activities (5,795) (919) (6,714) Year Ended December 28, 2013 As Previously Revision As Revised In Thousands Net cash provided by operating activities $ 8,390 $ 617 $ 9,007 Net cash used in investing activities (8,722) (617) (9,339) |
Schedule of Inventory, Current [Table Text Block] | Inventories, net of the valuation reserve, at fiscal year-ends were as follows: In Thousands 2015 2014 Raw materials $ 3,621 $ 3,950 Work in process 4,297 3,967 Finished goods 17,944 15,858 $ 25,862 $ 23,775 |
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment consist of the following: In Thousands 2015 2014 Land $ 2,049 $ 2,049 Buildings and leasehold improvements 18,964 16,951 Machinery and equipment 22,179 19,852 Total cost 43,192 38,852 Accumulated depreciation and amortization (28,829) (27,256) $ 14,363 $ 11,596 |
Investments in and Advances to Affiliates [Table Text Block] | Investments are composed of the following: In Thousands 2015 2014 Non-marketable equity investments (equity method) $ 19,644 $ 18,949 |
Schedule of Other Nonoperating Income, by Component [Table Text Block] | The components of Other Income are as follows: In Thousands 2015 2014 2013 Proceeds from insurance for involuntary conversion $ $ 603 Rent income from real estate 212 106 Other 121 94 $ 333 $ 803 $ |
Certain Significant Estimates (
Certain Significant Estimates (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Product Warranty [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Valuation and Qualifying Accounts [Table Text Block] | Changes in product warranty were as follows: In Thousands 2015 2014 2013 Beginning balance $ 695 $ 620 $ 523 Additions 1,459 1,156 978 Deductions (1,307) (1,081) (881) Ending balance $ 847 $ 695 $ 620 |
Inventory Valuation Reserves [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Valuation and Qualifying Accounts [Table Text Block] | Changes in inventory valuation reserves were as follows: In Thousands 2015 2014 2013 Beginning balance $ 537 $ 469 $ 414 Additions 470 287 426 Deductions (536) (219) (371) Ending balance $ 471 $ 537 $ 469 |
Allowance for Doubtful Accounts [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Valuation and Qualifying Accounts [Table Text Block] | Changes in allowance for doubtful accounts were as follows: In Thousands 2015 2014 2013 Beginning balance $ 900 $ 1,104 $ 787 Additions 159 251 475 Deductions 27 (455) (158) Ending balance $ 1,086 $ 900 $ 1,104 |
Customer Allowances [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Valuation and Qualifying Accounts [Table Text Block] | Changes in customer allowances were as follows: In Thousands 2015 2014 2013 Beginning balance $ 2,155 $ 2,494 $ 1,787 Additions 5,312 4,747 4,584 Deductions (5,316) (5,086) (3,877) Ending balance $ 2,151 $ 2,155 $ 2,494 |
Accrued Liabilities (Tables)
Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued liabilities consist of the following: In Thousands 2015 2014 Employee compensation $ 3,341 $ 3,314 Customer related allowances and accruals 5,263 5,055 Other accrued items 5,570 3,738 $ 14,174 $ 12,107 |
Operating Leases (Tables)
Operating Leases (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | At December 26, 2015, minimum rental payments under non-cancelable leases with terms of more than one year were as follows: In Thousands Amount 2016 $ 468 2017 412 2018 228 2019 201 Thereafter 84 $ 1,393 |
Acquired Intangible Assets an34
Acquired Intangible Assets and Goodwill (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2015 2014 In Thousands Gross Accumulated Gross Accumulated Patents $ 24,220 $ 22,061 $ 24,220 $ 19,882 Non-compete agreements 2,749 2,192 2,367 2,053 Customer list 9,073 1,112 5,054 548 Trademarks 6,313 122 4,429 122 $ 42,355 $ 25,487 $ 36,070 $ 22,605 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated future amortization expense is summarized in the following table: In Thousands 2016 2017 2018 2019 2020 Thereafter Sporting Goods $ 1,922 $ 1,146 $ 943 $ 843 $ 799 $ 5,025 |
Schedule of Goodwill [Table Text Block] | All goodwill is allocated to the operating segment of the business. The changes in the carrying amount of goodwill were: In Thousands Sporting Goods Balance at December 28, 2013 13,113 Acquisition 1,762 Balance at December 27, 2014 $ 14,875 Acquisitions 5,172 Balance at December 26, 2015 $ 20,047 |
Equity Interest Investments (Ta
Equity Interest Investments (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Joint Ventures Financial Information [Table Text Block] | In accordance with Rule 4-08(g) of Regulation S-X, summarized financial information for Stiga Sports AB balance sheets as of December 31, 2015 and 2014, and statements of operations for the years ended December 31, 2015, 2014 and 2013 is as follows: In Thousands 2015 2014 Current assets $ 29,300 $ 30,539 Non-current assets 9,908 8,082 Total assets 39,208 38,621 Current liabilities 5,096 7,669 Non-current liabilities 5,835 4,229 Total liabilities 10,931 11,898 Net assets $ 28,277 $ 26,723 |
Schedule of Joint Ventures Income Statement Information [Table Text Block] | 2015 2014 2013 Net sales $ 45,688 $ 52,583 $ 48,914 Gross profit 22,122 25,737 23,636 Net income 5,843 7,537 4,914 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Funded Debt to Adjusted Ratio Percentage [Table Text Block] | Applicable Rate means the applicable rate per annum set forth below, based upon Escalade’s Funded Debt to Adjusted Ratio as of the most recent determination date: Funded Debt to Revolving Term ABR Adjusted EBITDA Eurodollar Eurodollar Revolving ABR Term Letter of Commitment Ratio Borrowing Borrowing Borrowing Borrowing Credit Fee Fee Category 1 Greater than or equal to 2.50 to 1.0 2.50 % 2.75 % 0.50 % 0.75 % 2.50 % 0.45 % Category 2 Greater than or equal to 2.25 to 1.0 but less than 2.50 to 1.0 2.25 % 2.50 % 0.25 % 0.50 % 2.25 % 0.40 % Category 3 Greater than or equal to 2.00 to 1.0 but less than 2.50 to 1.0 2.00 % 2.25 % 0.00 % 0.25 % 2.00 % 0.35 % Category 4 Greater than or equal to 1.75 to 1.0 but less than 2.00 to 1.0 1.75 % 2.00 % (0.25) % 0.00 % 1.75 % 0.30 % Category 5 Less than 1.75 to 1.0 1.50 % 1.75 % (0.50) % (0.25) % 1.50 % 0.30 % |
Schedule of Short-term Debt [Table Text Block] | Short-term debt at fiscal year-ends was as follows: In Thousands 2015 2014 Senior secured revolving credit facility of $31.0 million with a maturity of August 27, 2016. The interest rates at December 26, 2015 was 1.862%. $ 19,776 $ 13,500 Note payable for deferred purchase price obligation 200 Short-term debt reclassified from long-term debt 1,610 4,286 $ 21,586 $ 17,786 |
Schedule of Long-term Debt Instruments [Table Text Block] | Long-term debt at fiscal year-ends was as follows: In Thousands 2015 2014 Term loan of $5.0 million with a maturity date of August 27, 2018. The interest rate at December 26, 2015, was 2.00%. $ 2,750 $ 3,750 Mortgage payable (Wabash, Indiana Adjustable Rate Economic Development Revenue Refunding Bonds), annual installments are optional, interest varies with short-term rates and is adjustable weekly based on market conditions, maximum rate is 10.00%, rate at December 27, 2014 is 0.31%, due September 2028, secured by real estate and a stand-by letter of credit 2,700 Seller-financed agreement for real estate in Mexico. The agreement requires sixteen quarterly installments of $156 thousand each with a maturity date of November 30, 2016. This agreement has an interest rate of zero percent and is secured by the financed real estate in Mexico. 610 1,196 3,360 7,646 Portion classified as short-term debt (1,610) (4,286) $ 1,750 $ 3,360 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Weighted Average Number of Shares [Table Text Block] | The shares used in the computation of the Company’s basic and diluted earnings per common share are as follows: In Thousands 2015 2014 2013 Weighted average common shares outstanding 14,088 13,853 13,506 Dilutive effect of stock options and restricted stock units 150 214 125 Weighted average common shares outstanding, assuming dilution 14,238 14,067 13,631 Number of anti-dilutive stock options and unvested restricted stock units 4 271 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | The Company issued no restricted stock units to employees or directors in 2013. A summary of restricted stock unit activity is as follows: Weighted Number of Average Grant Shares Date Fair Value Non-vested stock units as of December 28, 2013 Granted 50,000 $ 10.49 Vested Forfeited Non-vested stock units as of December 27, 2014 50,000 10.49 Vested but unsettled (4,500) Outstanding non-vested restricted stock units as of December 27, 2014 45,500 10.49 Granted 52,450 13.91 Vested (21,175) 11.65 Forfeited (875) 11.63 Non-vested stock units as of December 26, 2015 75,900 $ 12.52 |
Schedule of Share-based Compensation, Activity [Table Text Block] | The following table summarizes option activity for each of the three years ended 2015: Incentive Stock Options Director Stock Options Granted Outstanding Granted Outstanding 2015 172,625 15,000 2014 284,375 25,000 60,000 2013 120,000 559,950 37,500 80,000 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | The fair value of each option grant award is estimated on the grant date using the Black-Scholes-Merton option valuation model using the following assumptions: 2015 2014 2013 Risk-free interest rates 0.68% 0.52% Dividend yields 4.23% 5.97% Volatility factors of expected market price of common stock 35.86% 48.79% to 74.05% Weighted average expected life of the options 1-4 years 1-4 years |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes stock option transactions for the three years ended 2015: 2015 2014 2013 Option Option Option Shares Price Shares Price Shares Price Outstanding at beginning of year 344,375 $2.56 to$11.86 639,950 $0.64 to$6.07 692,875 $0.64 to 6.07 Issued during year 25,000 $ 11.86 157,500 $5.85 to $6.06 Canceled or expired (500) (19,000) (27,000) Exercised during year (156,250) $2.56 to $11.86 (301,575) $0.64 to $6.07 (183,425) $0.64 to $6.07 Outstanding at end of year 187,625 $5.28 to $11.86 344,375 $2.56 to $11.86 639,950 $0.64 to $6.07 Exercisable at end of year 133,250 158,875 198,825 Weighted-average fair value of options granted during the year $ 3.06 $ 2.21 |
Schedule Of Share Based Compensation Stock Options Outstanding [Table Text Block] | The following table summarizes information about stock options outstanding at December 26, 2015: Options Outstanding Options Exercisable Weighted-Average Range of Number of Remaining Weighted-Average Number of Weighted-Average Exercise Prices Shares Contractual Life Exercise Price Shares Exercise Price $5.28 - $5.66 75,500 1.2 years $ 5.30 52,125 $ 5.30 $5.85 - $6.06 66,750 2.2 years $ 5.87 35,750 $ 5.89 $6.07 30,375 0.2 years $ 6.07 30,375 $ 6.07 $11.86 15,000 3.2 years $ 11.86 15,000 $ 11.86 187,625 133,250 |
Schedule of Nonvested Share Activity [Table Text Block] | During the year ended December 26, 2015, the following activity occurred under the Company’s stock option plan: Weighted Average Number of Grant Date Fair Options Value Nonvested balance, beginning of year 185,500 $ 2.85 Granted Vested (130,625) $ 2.95 Forfeited (500) $ 4.03 Nonvested balance, end of year 54,375 $ 2.60 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | The results of operations presented as discontinued operations are summarized below. Years Ended All Amounts in Thousands December 26, December 27, Net sales $ $ 20,865 Cost of products sold 13,813 Selling, administrative and general expenses 7,535 Interest expense 98 Other expense 30 Loss Before Income Taxes (611) Discontinued Operations Loss on classification as held for sale (12,945) Gain on disposal 5,929 Provision (benefit) for income taxes (6,099) Net Loss from Discontinued Operations $ $ (1,528) |
Other Comprehensive Income (L40
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Statement of Comprehensive Income [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The components of other comprehensive income (loss) were as follows: In Thousands 2015 2014 2013 Change in foreign currency translation adjustment before reclassifications $ (1,214) $ (4,318) $ 826 Amounts reclassified from comprehensive income due to divesture $ (2,565) The components of accumulated other comprehensive income (loss), net of tax, were as follows: In Thousands 2015 2014 2013 Foreign currency translation adjustment $ (3,178) $ (1,964) $ 4,919 |
Provision for Taxes (Tables)
Provision for Taxes (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income before taxes and the provision for taxes consisted of the following: In Thousands 2015 2014 2013 Income (loss) before taxes: United States of America (USA) $ 15,674 $ 5,001 $ 19,803 Non USA 7,155 (3,115) $ 15,674 $ 12,156 $ 16,688 Provision for taxes: Current Federal $ 1,670 $ 3 $ 5,060 State 237 306 560 International 566 (26) 1,907 875 5,594 Deferred Federal 1,909 (667) 299 State 252 131 616 International 374 2,161 (536) 1,289 $ 4,068 $ 339 $ 6,883 Continuing Operations $ 4,068 $ 6,438 $ 6,119 Discontinued Operations (6,099) 764 $ 4,068 $ 339 $ 6,883 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The provision for income taxes was computed based on financial statement income. A reconciliation of the provision for income taxes to the amount computed using the statutory rate follows: In Thousands 2015 2014 2013 Income tax at statutory rate $ 5,486 $ 4,255 $ 5,840 Increase (decrease) in income tax resulting from State tax expense, net of federal effect 318 291 764 Federal true-ups (38) 55 (18) Federal tax credits (802) (568) (256) Effect of foreign tax rates (474) (1,107) (362) Valuation allowances (state and foreign) (1,406) 1,400 Captive insurance earnings (361) (398) (390) Incentive stock options 57 155 130 Foreign exchange gain on sale of Information Security (898) Other (118) (40) (225) Recorded provision for income taxes $ 4,068 $ 339 $ 6,883 |
Schedule Of Uncertain Tax Benefits [Table Text Block] | The components of the net deferred tax liabilities are as follows: In Thousands 2015 2014 Assets Employee benefits $ 100 $ 120 Valuation reserves 1,897 1,412 Property and equipment 259 566 Stock based compensation 268 191 Federal and state credits 259 878 Net operating loss carry forward 29 1,038 Total assets 2,812 4,205 Liabilities Unrealized equity investment income (3,192) (3,079) Goodwill and intangible assets (4,720) (2,660) Prepaid insurance (122) (102) Total liabilities (8,034) (5,841) Valuation Allowance Beginning balance (435) (8,949) Decrease (increase) during period 8,514 Ending balance (435) (435) $ (5,657) $ (2,071) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred tax assets (liabilities) are included in the consolidated balance sheets as follows: In Thousands 2015 2014 Deferred income tax asset - current $ 1,543 $ 925 Deferred income tax asset (liability) long-term (7,200) (2,996) $ (5,657) $ (2,071) |
Operating Segment and Geograp42
Operating Segment and Geographic Information (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following table presents certain operating segment In Thousands 2015 2014 2013 Sporting Goods Net revenue $ 155,542 $ 137,975 $ 132,991 Operating income 16,070 18,194 18,469 Interest expense (income) (50) (17) 170 Provision for taxes 6,356 7,420 7,212 Net income 9,771 11,394 11,087 Identifiable assets 116,013 95,506 91,137 Non-marketable equity investments (equity method) Depreciation & amortization 5,218 4,380 3,844 Capital expenditures 5,067 2,739 2,170 Discontinued Operations Net revenue 20,865 30,686 Operating loss (483) (1,687) Interest expense 98 335 Provision (benefit) for taxes (6,099) 764 Net loss (1,528) (2,790) Identifiable assets 23,203 Non-marketable equity investments (equity method) 331 Depreciation & amortization 373 774 Capital expenditures 246 185 All Other Net revenue Operating loss (3,252) (2,689) (2,285) Interest expense 520 465 233 Benefit for taxes (2,288) (982) (1,093) Net income 1,835 1,951 1,508 Identifiable assets 27,724 32,375 27,634 Non-marketable equity investments (equity method) 19,644 18,949 19,455 Depreciation & amortization Capital expenditures Total Net revenue 155,542 158,840 163,677 Operating income 12,818 15,022 14,497 Interest expense 470 546 738 Provision for taxes 4,068 339 6,883 Net income 11,606 11,817 9,805 Identifiable assets 143,737 127,881 141,974 Non-marketable equity investments (equity method) 19,644 18,949 19,786 Depreciation & amortization 5,218 4,753 4,618 Capital expenditures 5,067 2,985 2,355 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Net sales are attributed to country based on location of customer and are for continuing operations. Net sales by geographic region/country were as follows: In Thousands 2015 2014 2013 North America $ 152,890 $ 135,585 $ 129,435 Europe 1,234 1,408 1,946 Other 1,418 982 1,610 $ 155,542 $ 137,975 $ 132,991 Identified assets by geographic region/country were as follows: In Thousands 2015 2014 2013 North America $ 143,737 $ 127,881 $ 127,393 Europe 14,581 $ 143,737 $ 127,881 $ 141,974 |
Summary of Quarterly Results (T
Summary of Quarterly Results (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | Certain amounts reported below have been changed from those previously reported on Forms 10-Q to reflect the impact of discontinued operations for all periods. In thousands, except per share data (unaudited) March 21 July 11 October 3 December 26 2015 Net Sales $ 33,419 $ 43,795 $ 34,584 $ 43,744 Operating Income 4,287 4,157 1,873 2,501 Net Income from Continuing Operations 3,497 3,222 2,028 2,859 Net income from discontinued operations Net income 3,497 3,222 2,028 2,859 Basic Earnings Per Share Data: Income from continuing operations $ 0.25 $ 0.23 $ 0.14 $ 0.20 Income from discontinued operations 0.00 0.00 0.00 0.00 Net Income $ 0.25 $ 0.23 $ 0.14 $ 0.20 Diluted Earnings Per Share Data: Income from continuing operations $ 0.25 $ 0.23 $ 0.14 $ 0.20 Income from discontinued operations 0.00 0.00 0.00 0.00 Net Income $ 0.25 $ 0.23 $ 0.14 $ 0.20 In thousands, except per share data (unaudited) March 22 July 12 October 4 December 27 2014 Net Sales $ 27,721 $ 38,012 $ 31,599 $ 40,643 Operating Income 3,323 3,932 4,216 4,033 Net Income from Continuing Operations 2,264 2,767 3,837 4,477 Net income (loss) from discontinued operations (14) (10,851) 9,784 (447) Net income (loss) 2,250 (8,084) 13,621 4,030 Basic Earnings Per Share Data: Income from continuing operations $ 0.16 $ 0.20 $ 0.28 $ 0.32 Income (loss) from discontinued operations 0.00 (0.78) 0.70 (0.03) Net Income (loss) $ 0.16 $ (0.58) $ 0.98 $ 0.29 Diluted Earnings Per Share Data: Income from continuing operations $ 0.16 $ 0.20 $ 0.27 $ 0.32 Income (loss) from discontinued operations 0.00 (0.77) 0.69 (0.03) Net Income (loss) $ 0.16 $ (0.57) $ 0.96 $ 0.29 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The allocation of the purchase price, including values assigned to assets, liabilities and the amount of goodwill and intangible assets are represented in the table below. In thousands Assets acquired and liabilities assumed: Accounts receivable $ 795 Inventories 966 Other assets 50 Goodwill 5,172 Intangible assets 6,286 Accounts payable (271) Other liabilities (74) Deferred income tax liability (2,046) $ 10,878 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Minimum Payments Under Non Cancelable Royalty And License [Table Text Block] | At December 26, 2015, the Company had future estimated minimum non-cancelable royalty and license payments as follows: In Thousands Amount 2016 $ 460 2017 460 2018 375 2019 2020 Thereafter $ 1,295 |
Fair Values of Financial Inst46
Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 26, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table presents estimated fair values of the Company’s financial instruments in accordance with FASB ASC 825 at December 26, 2015 and December 27, 2014. Fair Value Measurements Using 2015 Fair Value Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 1,982 $ 1,982 $ $ Time deposits $ $ $ $ Financial liabilities Note payable and Short-term debt $ 19,776 $ $ 19,776 $ Current portion of Long-term debt $ 1,810 $ $ 1,810 $ Long-term debt $ 1,750 $ $ 1,750 $ Fair Value Measurements Using 2014 Fair Value Quoted Prices in Significant Other Significant Financial assets Cash and cash equivalents $ 3,232 $ 3,232 $ $ Time deposits $ 1,450 $ 1,450 $ $ Financial liabilities Note payable and Short-term debt $ 16,200 $ $ 16,200 $ Current portion of Long-term debt $ 1,586 $ $ 1,586 $ Long-term debt $ 3,360 $ $ 3,360 $ |
Nature of Operations and Summ47
Nature of Operations and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Condensed Consolidated Statement Of Cash Flow [Line Items] | |||
Net cash provided by operating activities | $ 15,463 | $ 19,296 | $ 9,007 |
Net cash used in investing activities | $ (14,295) | (6,714) | (9,339) |
As Previously Reported [Member] | |||
Condensed Consolidated Statement Of Cash Flow [Line Items] | |||
Net cash provided by operating activities | 18,377 | 8,390 | |
Net cash used in investing activities | (5,795) | (8,722) | |
Revision [Member] | |||
Condensed Consolidated Statement Of Cash Flow [Line Items] | |||
Net cash provided by operating activities | 919 | 617 | |
Net cash used in investing activities | $ (919) | $ (617) |
Nature of Operations and Summ48
Nature of Operations and Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Inventory [Line Items] | ||
Raw materials | $ 3,621 | $ 3,950 |
Work in process | 4,297 | 3,967 |
Finished goods | 17,944 | 15,858 |
Inventories | $ 25,862 | $ 23,775 |
Nature of Operations and Summ49
Nature of Operations and Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | ||
Land | $ 2,049 | $ 2,049 |
Buildings and leasehold improvements | 18,964 | 16,951 |
Machinery and equipment | 22,179 | 19,852 |
Total cost | 43,192 | 38,852 |
Accumulated depreciation and amortization | (28,829) | (27,256) |
Property, Plant and Equipment | $ 14,363 | $ 11,596 |
Nature of Operations and Summ50
Nature of Operations and Summary of Significant Accounting Policies (Details 3) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 |
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Non-marketable equity investments (equity method) | $ 19,644 | $ 18,949 | $ 19,786 |
Nature of Operations and Summ51
Nature of Operations and Summary of Significant Accounting Policies (Details 4) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Proceeds from insurance for involuntary conversion | $ 0 | $ 603 | $ 0 |
Rent income from real estate | 212 | 106 | 0 |
Other | 121 | 94 | 0 |
Other Income | $ 333 | $ 803 | $ 0 |
Nature of Operations and Summ52
Nature of Operations and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Inventory Valuation Reserves | $ 471 | $ 537 | |
Equity Method Investment, Description of Principal Activities | Where the equity interest is less than 20% and the degree of influence is not significant, the cost method of accounting is employed. Where the equity interest is greater than 20% but not more than 50%, the equity method of accounting is utilized. | ||
Proceeds from Equity Method Investment, Dividends or Distributions | $ 928 | 919 | $ 617 |
Research and Development Expense, Total | 1,500 | 1,700 | 1,200 |
Proportionate Net Income | $ 3,000 | $ 3,900 | 2,900 |
Other Operating Income (Expense), Net | $ 343 | ||
Percentage Of Loss Portion | 50.00% | ||
Building [Member] | Maximum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 30 years | ||
Building [Member] | Minimum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 20 years | ||
Machinery and Equipment, Leasehold Improvements [Member] | Maximum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 15 years | ||
Machinery and Equipment, Leasehold Improvements [Member] | Minimum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Tools, Dies and Molds [Member] | Maximum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 4 years | ||
Tools, Dies and Molds [Member] | Minimum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Noncompete Agreements [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Patents [Member] | Maximum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 13 years | ||
Patents [Member] | Minimum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Customer Lists [Member] | Maximum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 14 years | ||
Customer Lists [Member] | Minimum [Member] | |||
Nature Of Operations and Summary Of Significant Accounting Policies [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years |
Certain Significant Estimates53
Certain Significant Estimates (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Product Warranty [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning balance | $ 695 | $ 620 | $ 523 |
Additions | 1,459 | 1,156 | 978 |
Deductions | (1,307) | (1,081) | (881) |
Ending balance | 847 | 695 | 620 |
Inventory Valuation Reserves [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning balance | 537 | 469 | 414 |
Additions | 470 | 287 | 426 |
Deductions | (536) | (219) | (371) |
Ending balance | 471 | 537 | 469 |
Allowance for Doubtful Accounts [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning balance | 900 | 1,104 | 787 |
Additions | 159 | 251 | 475 |
Deductions | 27 | (455) | (158) |
Ending balance | 1,086 | 900 | 1,104 |
Customer Allowances [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning balance | 2,155 | 2,494 | 1,787 |
Additions | 5,312 | 4,747 | 4,584 |
Deductions | (5,316) | (5,086) | (3,877) |
Ending balance | $ 2,151 | $ 2,155 | $ 2,494 |
Certain Significant Estimates54
Certain Significant Estimates (Details Textual) | 12 Months Ended |
Dec. 26, 2015 | |
Noncompete Agreements [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 5 years |
Maximum [Member] | Customer Lists [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 14 years |
Maximum [Member] | Patents [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 13 years |
Minimum [Member] | Customer Lists [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 5 years |
Minimum [Member] | Patents [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 5 years |
Accrued Liabilities (Details)
Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Accrued Liabilities [Line Items] | ||
Employee compensation | $ 3,341 | $ 3,314 |
Customer related allowances and accruals | 5,263 | 5,055 |
Other accrued items | 5,570 | 3,738 |
Accrued Liabilities | $ 14,174 | $ 12,107 |
Operating Leases (Details)
Operating Leases (Details) $ in Thousands | Dec. 26, 2015USD ($) |
Operating Leased Assets [Line Items] | |
2,016 | $ 468 |
2,017 | 412 |
2,018 | 228 |
2,019 | 201 |
Thereafter | 84 |
Minimum rental payments under non-cancelable leases | $ 1,393 |
Operating Leases (Details Textu
Operating Leases (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Operating Leased Assets [Line Items] | |||
Operating Leases, Rent Expense, Net, Total | $ 0.9 | $ 0.7 | $ 0.7 |
Acquired Intangible Assets an58
Acquired Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | $ 42,355 | $ 36,070 |
Finite-Lived Intangible Assets, Accumulated Amortization | 25,487 | 22,605 |
Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | 24,220 | 24,220 |
Finite-Lived Intangible Assets, Accumulated Amortization | 22,061 | 19,882 |
Non-compete Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | 2,749 | 2,367 |
Finite-Lived Intangible Assets, Accumulated Amortization | 2,192 | 2,053 |
Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | 9,073 | 5,054 |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,112 | 548 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | 6,313 | 4,429 |
Finite-Lived Intangible Assets, Accumulated Amortization | $ 122 | $ 122 |
Acquired Intangible Assets an59
Acquired Intangible Assets and Goodwill (Details 1) - Sporting Goods [Member] $ in Thousands | Dec. 26, 2015USD ($) |
Acquired Finite-Lived Intangible Assets [Line Items] | |
2,016 | $ 1,922 |
2,017 | 1,146 |
2,018 | 943 |
2,019 | 843 |
2,020 | 799 |
Thereafter | $ 5,025 |
Acquired Intangible Assets an60
Acquired Intangible Assets and Goodwill (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 26, 2015 | Dec. 27, 2014 | |
Goodwill [Line Items] | ||
Beginning, Balance | $ 14,875 | |
Ending, Balance | 20,047 | $ 14,875 |
Sporting Goods [Member] | ||
Goodwill [Line Items] | ||
Beginning, Balance | 14,875 | 13,113 |
Acquisition | 5,172 | 1,762 |
Ending, Balance | $ 20,047 | $ 14,875 |
Acquired Intangible Assets an61
Acquired Intangible Assets and Goodwill (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Goodwill [Line Items] | |||
Amortization, Total | $ 2.9 | $ 2.6 | $ 2.4 |
Equity Interest Investments (De
Equity Interest Investments (Details) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 |
Schedule of Equity Method Investments [Line Items] | |||
Current assets | $ 72,815 | $ 68,851 | |
Total assets | 143,737 | 127,881 | $ 141,974 |
Current liabilities | 38,307 | 31,746 | |
Total liabilities | 47,257 | 38,102 | |
Stiga Sports AB [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Current assets | 29,300 | 30,539 | |
Non-current assets | 9,908 | 8,082 | |
Total assets | 39,208 | 38,621 | |
Current liabilities | 5,096 | 7,669 | |
Non-current liabilities | 5,835 | 4,229 | |
Total liabilities | 10,931 | 11,898 | |
Net assets | $ 28,277 | $ 26,723 |
Equity Interest Investments (63
Equity Interest Investments (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 26, 2015 | Oct. 03, 2015 | Jul. 11, 2015 | Mar. 21, 2015 | Dec. 27, 2014 | Oct. 04, 2014 | Jul. 12, 2014 | Mar. 22, 2014 | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Schedule of Equity Method Investments [Line Items] | |||||||||||
Net sales | $ 43,744 | $ 34,584 | $ 43,795 | $ 33,419 | $ 40,643 | $ 31,599 | $ 38,012 | $ 27,721 | $ 155,542 | $ 137,975 | $ 132,991 |
Net income | $ 2,859 | $ 2,028 | $ 3,222 | $ 3,497 | $ 4,030 | $ 13,621 | $ (8,084) | $ 2,250 | 11,606 | 11,817 | 9,805 |
Stiga Sports AB [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Net sales | 45,688 | 52,583 | 48,914 | ||||||||
Gross profit | 22,122 | 25,737 | 23,636 | ||||||||
Net income | $ 5,843 | $ 7,537 | $ 4,914 |
Equity Interest Investments (64
Equity Interest Investments (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 26, 2015 | Oct. 03, 2015 | Jul. 11, 2015 | Mar. 21, 2015 | Dec. 27, 2014 | Oct. 04, 2014 | Jul. 12, 2014 | Mar. 22, 2014 | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Schedule of Equity Method Investments [Line Items] | |||||||||||
Net Income (Loss) Attributable To Parent | $ 2,859 | $ 2,028 | $ 3,222 | $ 3,497 | $ 4,030 | $ 13,621 | $ (8,084) | $ 2,250 | $ 11,606 | $ 11,817 | $ 9,805 |
Stiga Sports AB [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | |||||||||
Amortization Of Goodwill | $ 10,400 | 11,400 | |||||||||
Goodwill, Translation Adjustments | 14,600 | 16,000 | |||||||||
Cumulative goodwill adjustments, tax effect | 4,200 | 4,600 | |||||||||
Adjustments For Net Income Impact | $ 100 | 300 | 1,600 | ||||||||
Stiga Sports AB [Member] | Parent [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | |||||||||
Net Income (Loss) Attributable To Parent | $ 3,000 | 3,900 | 3,300 | ||||||||
Royalty Expense | $ 400 | $ 400 | $ 400 | ||||||||
Escalade International [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | ||||||||||
Net Income (Loss) Attributable To Parent | $ 343 | ||||||||||
Neoteric Industries Inc [Member] | |||||||||||
Schedule of Equity Method Investments [Line Items] | |||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | 50.00% | 50.00% |
Borrowings (Details)
Borrowings (Details) | 12 Months Ended |
Dec. 26, 2015 | |
Category 1 [Member] | |
Debt Instrument, Redemption [Line Items] | |
Funded Debt to Adjusted EBITDA Ratio | Greater than or equal to 2.50 to 1.0 |
Revolving Eurodollar Borrowing | 2.50% |
Term Eurodollar Borrowing | 2.75% |
ABR Revolving borrowing | 0.50% |
ABR Term Borrowing | 0.75% |
Letter Of Credit Fee | 2.50% |
Commitment Fee | 0.45% |
Category 2 [Member] | |
Debt Instrument, Redemption [Line Items] | |
Funded Debt to Adjusted EBITDA Ratio | Greater than or equal to 2.25 to 1.0 but less than 2.50 to 1.0 |
Revolving Eurodollar Borrowing | 2.25% |
Term Eurodollar Borrowing | 2.50% |
ABR Revolving borrowing | 0.25% |
ABR Term Borrowing | 0.50% |
Letter Of Credit Fee | 2.25% |
Commitment Fee | 0.40% |
Category 3 [Member] | |
Debt Instrument, Redemption [Line Items] | |
Funded Debt to Adjusted EBITDA Ratio | Greater than or equal to 2.00 to 1.0 but less than 2.50 to 1.0 |
Revolving Eurodollar Borrowing | 2.00% |
Term Eurodollar Borrowing | 2.25% |
ABR Revolving borrowing | 0.00% |
ABR Term Borrowing | 0.25% |
Letter Of Credit Fee | 2.00% |
Commitment Fee | 0.35% |
Category 4 [Member] | |
Debt Instrument, Redemption [Line Items] | |
Funded Debt to Adjusted EBITDA Ratio | Greater than or equal to 1.75 to 1.0 but less than 2.00 to 1.0 |
Revolving Eurodollar Borrowing | 1.75% |
Term Eurodollar Borrowing | 2.00% |
ABR Revolving borrowing | (0.25%) |
ABR Term Borrowing | 0.00% |
Letter Of Credit Fee | 1.75% |
Commitment Fee | 0.30% |
Category 5 [Member] | |
Debt Instrument, Redemption [Line Items] | |
Funded Debt to Adjusted EBITDA Ratio | Less than 1.75 to 1.0 |
Revolving Eurodollar Borrowing | 1.50% |
Term Eurodollar Borrowing | 1.75% |
ABR Revolving borrowing | (0.50%) |
ABR Term Borrowing | (0.25%) |
Letter Of Credit Fee | 1.50% |
Commitment Fee | 0.30% |
Borrowings (Details 1)
Borrowings (Details 1) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Debt Instrument [Line Items] | ||
Secured Debt, Current | $ 19,776 | $ 13,500 |
Note payable for deferred purchase price obligation | 200 | 0 |
Short-term debt reclassified from long-term debt | 1,610 | 4,286 |
Short-term Debt, Total | $ 21,586 | $ 17,786 |
Borrowings (Details 2)
Borrowings (Details 2) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Debt Instrument [Line Items] | ||
Long-term Debt | $ 3,360 | $ 7,646 |
Portion classified as short-term debt | (1,610) | (4,286) |
Long-term Debt, Excluding Current Maturities, Total | 1,750 | 3,360 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 2,750 | 3,750 |
Mortgage Payable [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | 0 | 2,700 |
Seller Financed Agreement [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 610 | $ 1,196 |
Borrowings (Details Textual)
Borrowings (Details Textual) € in Millions | 12 Months Ended | |||
Dec. 26, 2015USD ($) | Dec. 27, 2014EUR (€) | Dec. 28, 2013USD ($) | Aug. 27, 2013EUR (€) | |
Debt Instrument [Line Items] | ||||
Debt Instrument, Periodic Payment, Principal | $ 250,000 | |||
Bank Overdrafts | € | € 1 | |||
Long-term Line of Credit, Noncurrent | $ 5,000,000 | |||
Short-term Debt, Weighted Average Interest Rate | 1.91% | 1.57% | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 1,600,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 1,000,000 | |||
Long-term Debt, Maturities, Repayments of Principal in Year Three | $ 800,000 | |||
Line of Credit Facility, Interest Rate at Period End | 1.862% | |||
Restated Credit Agreement [Member] | ||||
Debt Instrument [Line Items] | ||||
Increase (Decrease) in Book Overdrafts | € | € 1 | |||
Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Maturity Date | Aug. 27, 2018 | |||
Debt Instrument, Face Amount | $ 5,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |||
Mortgage Payable [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Maturity Date | Sep. 30, 2028 | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.31% | |||
Mortgage Payable [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||
Seller Financed Agreement [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Maturity Date | Nov. 30, 2016 | |||
Debt Instrument, Periodic Payment | $ 156,000 | |||
Long-term Debt, Gross | $ 600,000 | |||
Senior Revolving Credit Facility [Member] | Restated Credit Agreement [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of Credit Facility, Increase (Decrease), Net, Total | $ 9,000,000 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 31,000,000 | |||
Debt Instrument, Maturity Date | Aug. 27, 2016 |
Earnings Per Share (Details)
Earnings Per Share (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Weighted average common shares outstanding | 14,088 | 13,853 | 13,506 |
Dilutive effect of stock options and restricted stock units | 150 | 214 | 125 |
Weighted average common shares outstanding, assuming dilution | 14,238 | 14,067 | 13,631 |
Number of anti-dilutive stock options and unvested restricted stock units | 4 | 0 | 271 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Profit Sharing Salary Reduction Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Other Labor-related Expenses | $ 600 | $ 532 | $ 517 |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) - $ / shares | 12 Months Ended | |
Dec. 26, 2015 | Dec. 27, 2014 | |
Non-vested stock units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested, Number of Shares | 50,000 | 0 |
Granted, Number of Shares | 50,000 | |
Vested, Number of Shares | 0 | |
Forfeited, Number of Shares | 0 | |
Nonvested, Number of Shares | 75,900 | 50,000 |
Vested but unsettled ,Number of Shares | (4,500) | |
Weighted Average Grant Date Fair Value, Outstanding at beginning of year | $ 10.49 | |
Granted, Weighted Average Grant Date Fair Value | $ 10.49 | |
Weighted Average Grant Date Fair Value, Outstanding at end of year | $ 12.52 | $ 10.49 |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested, Number of Shares | 45,500 | |
Granted, Number of Shares | 52,450 | |
Vested, Number of Shares | (21,175) | |
Forfeited, Number of Shares | (875) | |
Nonvested, Number of Shares | 45,500 | |
Weighted Average Grant Date Fair Value, Outstanding at beginning of year | $ 10.49 | |
Granted, Weighted Average Grant Date Fair Value | 13.91 | |
Vested, Weighted Average Grant Date Fair Value | 11.65 | |
Forfeited, Weighted Average Grant Date Fair Value | $ 11.63 | |
Weighted Average Grant Date Fair Value, Outstanding at end of year | $ 10.49 |
Stock Compensation Plans (Det72
Stock Compensation Plans (Details 1) - shares | 12 Months Ended | |||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | Dec. 29, 2012 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Option, Granted | 0 | 25,000 | 157,500 | |
Option, Outstanding | 187,625 | 344,375 | 639,950 | 692,875 |
Incentive Stock Options [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Option, Granted | 0 | 0 | 120,000 | |
Option, Outstanding | 172,625 | 284,375 | 559,950 | |
Director Stock Options [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Option, Granted | 0 | 25,000 | 37,500 | |
Option, Outstanding | 15,000 | 60,000 | 80,000 |
Stock Compensation Plans (Det73
Stock Compensation Plans (Details 2) | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Risk-free interest rates | 0.00% | 0.68% | 0.52% |
Dividend yields | 0.00% | 4.23% | 5.97% |
Volatility factors of expected market price of common stock | 0.00% | 35.86% | |
Maximum [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Volatility factors of expected market price of common stock | 74.05% | ||
Weighted average expected life of the options | 4 years | 4 years | |
Minimum [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Volatility factors of expected market price of common stock | 48.79% | ||
Weighted average expected life of the options | 1 year | 1 year |
Stock Compensation Plans (Det74
Stock Compensation Plans (Details 3) - $ / shares | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options, Outstanding at beginning of year | 344,375 | 639,950 | 692,875 |
Options, Issued during year | 0 | 25,000 | 157,500 |
Options, Canceled or expired | (500) | (19,000) | (27,000) |
Options, Exercised during year | (156,250) | (301,575) | (183,425) |
Options, Outstanding at end of year | 187,625 | 344,375 | 639,950 |
Options, Exercisable at end of year | 133,250 | 158,875 | 198,825 |
Weighted-average fair value of options granted during the year | $ 0 | $ 3.06 | $ 2.21 |
Weighted Average Exercise Price, Issued during year | 0 | 11.86 | |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted Average Grant Date Fair Value, Outstanding at beginning of year | 11.86 | 6.07 | 6.07 |
Weighted Average Exercise Price, Issued during year | 6.06 | ||
Weighted Average Exercise Price, Exercised during year | 11.86 | 6.07 | 6.07 |
Weighted Average Grant Date Fair Value, Outstanding at end of year | 11.86 | 11.86 | 6.07 |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted Average Grant Date Fair Value, Outstanding at beginning of year | 2.56 | 0.64 | 0.64 |
Weighted Average Exercise Price, Issued during year | 5.85 | ||
Weighted Average Exercise Price, Exercised during year | 2.56 | 0.64 | 0.64 |
Weighted Average Grant Date Fair Value, Outstanding at end of year | $ 5.28 | $ 2.56 | $ 0.64 |
Stock Compensation Plans (Det75
Stock Compensation Plans (Details 4) - $ / shares | 12 Months Ended | |||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | Dec. 29, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares | 187,625 | 344,375 | 639,950 | 692,875 |
Options Exercisable, Number of Shares | 133,250 | 158,875 | 198,825 | |
Range Of Exercise Prices 5.28-5.66 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares | 75,500 | |||
Options Outstanding, Weighted-Average Remaining Contractual Life | 1 year 2 months 12 days | |||
Options Outstanding, Weighted-Average Exercise Price | $ 5.30 | |||
Options Exercisable, Number of Shares | 52,125 | |||
Options Exercisable, Weighted-Average Exercise Price | $ 5.30 | |||
Range Of Exercise Prices 5.85-6.06 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares | 66,750 | |||
Options Outstanding, Weighted-Average Remaining Contractual Life | 2 years 2 months 12 days | |||
Options Outstanding, Weighted-Average Exercise Price | $ 5.87 | |||
Options Exercisable, Number of Shares | 35,750 | |||
Options Exercisable, Weighted-Average Exercise Price | $ 5.89 | |||
Range Of Exercise Prices 6.07 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares | 30,375 | |||
Options Outstanding, Weighted-Average Remaining Contractual Life | 2 months 12 days | |||
Options Outstanding, Weighted-Average Exercise Price | $ 6.07 | |||
Options Exercisable, Number of Shares | 30,375 | |||
Options Exercisable, Weighted-Average Exercise Price | $ 6.07 | |||
Range Of Exercise Prices 11.86 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Options Outstanding, Number of Shares | 15,000 | |||
Options Outstanding, Weighted-Average Remaining Contractual Life | 3 years 2 months 12 days | |||
Options Outstanding, Weighted-Average Exercise Price | $ 11.86 | |||
Options Exercisable, Number of Shares | 15,000 | |||
Options Exercisable, Weighted-Average Exercise Price | $ 11.86 |
Stock Compensation Plans (Det76
Stock Compensation Plans (Details 5) - $ / shares | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Schedule of Nonvested Shares Activity [Line Items] | |||
Options, Granted | 0 | 25,000 | 157,500 |
Weighted Average Grant Date Fair Value, Granted | $ 0 | $ 11.86 | |
Nonvested Stock Option Plan [Member] | |||
Schedule of Nonvested Shares Activity [Line Items] | |||
Options, Outstanding at beginning of year | 185,500 | ||
Options, Granted | 0 | ||
Options, Vested | (130,625) | ||
Options, Forfeited | (500) | ||
Options, Outstanding at end of year | 54,375 | 185,500 | |
Weighted Average Grant Date Fair Value, Outstanding at beginning of year | $ 2.85 | ||
Weighted Average Grant Date Fair Value, Granted | 0 | ||
Weighted Average Grant Date Fair Value, Vested | 2.95 | ||
Weighted Average Grant Date Fair Value, Forfeited | 4.03 | ||
Weighted Average Grant Date Fair Value, Outstanding at end of year | $ 2.60 | $ 2.85 |
Stock Compensation Plans (Det77
Stock Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $ 542 | $ 191 | $ 0 | |
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 512 | $ 512 | $ 334 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 25,000 | 157,500 | |
Cumulative Average Volume Weighted Average Price Per Share | 15.00% | |||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 days | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 38,250 | 42,450 | ||
Shares Issued, Price Per Share | $ 0.10 | $ 0.10 | ||
Restricted Stock Units (RSUs) [Member] | Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 10,000 | |||
Director Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 25,000 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $ 177 | $ 525 | $ 557 | |
Employee and Non Employee Service Share-based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 60 | $ 60 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 10 months 24 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 1,600 | $ 2,700 | $ 929 |
Discontinued Operations (Detail
Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 26, 2015 | Oct. 03, 2015 | Jul. 11, 2015 | Mar. 21, 2015 | Dec. 27, 2014 | Oct. 04, 2014 | Jul. 12, 2014 | Mar. 22, 2014 | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Net sales | $ 0 | $ 20,865 | |||||||||
Cost of products sold | 0 | 13,813 | |||||||||
Selling, administrative and general expenses | 0 | 7,535 | |||||||||
Interest expense | 0 | 98 | |||||||||
Other expense | 0 | 30 | |||||||||
Loss Before Income Taxes | 0 | (611) | $ (2,026) | ||||||||
Discontinued Operations | |||||||||||
Loss on classification as held for sale | 0 | (12,945) | 0 | ||||||||
Gain on disposal | 0 | 5,929 | 0 | ||||||||
Provision (benefit) for income taxes | 0 | (6,099) | 764 | ||||||||
Net Loss from Discontinued Operations | $ 0 | $ 0 | $ 0 | $ 0 | $ (447) | $ 9,784 | $ (10,851) | $ (14) | $ 0 | $ (1,528) | $ (2,790) |
Discontinued Operations (Deta79
Discontinued Operations (Details Textual) $ in Millions | 12 Months Ended |
Dec. 27, 2014USD ($) | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Discontinued Operation, Tax (Expense) Benefit from Provision for (Gain) Loss on Disposal | $ 6.1 |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax | 2.6 |
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, before Income Tax | 9.6 |
Asset Impairment Charges, Total | $ 12.9 |
Other Comprehensive Income (L80
Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Change in foreign currency translation adjustment before reclassifications | $ (1,214) | $ (4,318) | $ 826 |
Amounts reclassified from comprehensive income due to divestiture | 0 | (2,565) | 0 |
Foreign currency translation adjustment | $ (3,178) | $ (1,964) | $ 4,919 |
Provision for Taxes (Details)
Provision for Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Income (loss) before taxes: | |||
United States of America (USA) | $ 15,674 | $ 5,001 | $ 19,803 |
Non USA | 0 | 7,155 | (3,115) |
Income (Loss) Before Income Taxes | 15,674 | 12,156 | 16,688 |
Current | |||
Federal | 1,670 | 3 | 5,060 |
State | 237 | 306 | 560 |
International | 0 | 566 | (26) |
Current Income Tax Expense (Benefit) | 1,907 | 875 | 5,594 |
Deferred | |||
Federal | 1,909 | (667) | 299 |
State | 252 | 131 | 616 |
International | 0 | 0 | 374 |
Deferred Income Tax Expense (Benefit) | 2,161 | (536) | 1,289 |
Income Tax Expense (Benefit), Total | 4,068 | 339 | 6,883 |
Continuing Operations | 4,068 | 6,438 | 6,119 |
Discontinued Operations | 0 | (6,099) | 764 |
Income Tax Expense (Benefit), Total | $ 4,068 | $ 339 | $ 6,883 |
Provision for Taxes (Details 1)
Provision for Taxes (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Income Tax Contingency [Line Items] | |||
Income tax at statutory rate | $ 5,486 | $ 4,255 | $ 5,840 |
Increase (decrease) in income tax resulting from | |||
State tax expense, net of federal effect | 318 | 291 | 764 |
Federal true-ups | (38) | 55 | (18) |
Federal tax credits | (802) | (568) | (256) |
Effect of foreign tax rates | (474) | (1,107) | (362) |
Valuation allowances (state and foreign) | 0 | (1,406) | 1,400 |
Captive insurance earnings | (361) | (398) | (390) |
Incentive stock options | 57 | 155 | 130 |
Foreign exchange gain on sale of Information Security | 0 | (898) | 0 |
Other | (118) | (40) | (225) |
Recorded provision for income taxes | $ 4,068 | $ 339 | $ 6,883 |
Provision for Taxes (Details 2)
Provision for Taxes (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 26, 2015 | Dec. 27, 2014 | |
Assets | ||
Employee benefits | $ 100 | $ 120 |
Valuation reserves | 1,897 | 1,412 |
Property and equipment | 259 | 566 |
Stock based compensation | 268 | 191 |
Federal and state credits | 259 | 878 |
Net operating loss carry forward | 29 | 1,038 |
Total assets | 2,812 | 4,205 |
Liabilities | ||
Unrealized equity investment income | (3,192) | (3,079) |
Goodwill and intangible assets | (4,720) | (2,660) |
Prepaid insurance | (122) | (102) |
Total liabilities | (8,034) | (5,841) |
Valuation Allowance | ||
Beginning balance | (435) | (8,949) |
Decrease (increase) during period | 0 | 8,514 |
Ending balance | (435) | (435) |
Deferred Tax Assets, Net | $ (5,657) | $ (2,071) |
Provision for Taxes (Details 3)
Provision for Taxes (Details 3) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Deferred Tax Assets, Net, Classification [Abstract] | ||
Deferred income tax asset - current | $ 1,543 | $ 925 |
Deferred income tax asset (liability) - long-term | (7,200) | (2,996) |
Deferred Tax Liabilities, Net | $ (5,657) | $ (2,071) |
Provision for Taxes (Details Te
Provision for Taxes (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 26, 2015USD ($) | |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $ 517 |
Operating Loss Carryforwards, Expiration Date | Dec. 31, 2029 |
Operating Segment and Geograp86
Operating Segment and Geographic Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 26, 2015 | Oct. 03, 2015 | Jul. 11, 2015 | Mar. 21, 2015 | Dec. 27, 2014 | Oct. 04, 2014 | Jul. 12, 2014 | Mar. 22, 2014 | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Net revenue | $ 155,542 | $ 158,840 | $ 163,677 | ||||||||
Operating income loss | $ 2,501 | $ 1,873 | $ 4,157 | $ 4,287 | $ 4,033 | $ 4,216 | $ 3,932 | $ 3,323 | 12,818 | 15,504 | 16,184 |
Interest expense | 470 | 546 | 738 | ||||||||
Provision (benefit) for taxes | 4,068 | 339 | 6,883 | ||||||||
Net income (Loss) | 2,859 | $ 2,028 | $ 3,222 | $ 3,497 | 4,030 | $ 13,621 | $ (8,084) | $ 2,250 | 11,606 | 11,817 | 9,805 |
Identifiable assets | 143,737 | 127,881 | 143,737 | 127,881 | 141,974 | ||||||
Investments | 19,644 | 18,949 | 19,644 | 18,949 | 19,786 | ||||||
Depreciation & amortization | 5,218 | 4,753 | 4,618 | ||||||||
Capital expenditures | 5,067 | 2,985 | 2,355 | ||||||||
Sporting Goods [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net revenue | 155,542 | 137,975 | 132,991 | ||||||||
Operating income loss | 16,070 | 18,194 | 18,469 | ||||||||
Interest expense (income) | (50) | (17) | 170 | ||||||||
Provision (benefit) for taxes | 6,356 | 7,420 | 7,212 | ||||||||
Net income (Loss) | 9,771 | 11,394 | 11,087 | ||||||||
Identifiable assets | 116,013 | 95,506 | 116,013 | 95,506 | 91,137 | ||||||
Investments | 0 | 0 | 0 | 0 | 0 | ||||||
Depreciation & amortization | 5,218 | 4,380 | 3,844 | ||||||||
Capital expenditures | 5,067 | 2,739 | 2,170 | ||||||||
Discontinued Operations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net revenue | 0 | 20,865 | 30,686 | ||||||||
Operating income loss | 0 | (483) | (1,687) | ||||||||
Interest expense | 0 | 98 | 335 | ||||||||
Provision (benefit) for taxes | 0 | (6,099) | 764 | ||||||||
Net income (Loss) | 0 | (1,528) | (2,790) | ||||||||
Identifiable assets | 0 | 0 | 0 | 0 | 23,203 | ||||||
Investments | 0 | 0 | 0 | 0 | 331 | ||||||
Depreciation & amortization | 0 | 373 | 774 | ||||||||
Capital expenditures | 0 | 246 | 185 | ||||||||
All Other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net revenue | 0 | 0 | 0 | ||||||||
Operating income loss | (3,252) | (2,689) | (2,285) | ||||||||
Interest expense | 520 | 465 | 233 | ||||||||
Provision (benefit) for taxes | (2,288) | (982) | (1,093) | ||||||||
Net income (Loss) | 1,835 | 1,951 | 1,508 | ||||||||
Identifiable assets | 27,724 | 32,375 | 27,724 | 32,375 | 27,634 | ||||||
Investments | $ 19,644 | $ 18,949 | 19,644 | 18,949 | 19,455 | ||||||
Depreciation & amortization | 0 | 0 | 0 | ||||||||
Capital expenditures | $ 0 | $ 0 | $ 0 |
Operating Segment and Geograp87
Operating Segment and Geographic Information (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 26, 2015 | Oct. 03, 2015 | Jul. 11, 2015 | Mar. 21, 2015 | Dec. 27, 2014 | Oct. 04, 2014 | Jul. 12, 2014 | Mar. 22, 2014 | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | $ 43,744 | $ 34,584 | $ 43,795 | $ 33,419 | $ 40,643 | $ 31,599 | $ 38,012 | $ 27,721 | $ 155,542 | $ 137,975 | $ 132,991 |
North America [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | 152,890 | 135,585 | 129,435 | ||||||||
Europe [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | 1,234 | 1,408 | 1,946 | ||||||||
Other Credit Derivatives [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | $ 1,418 | $ 982 | $ 1,610 |
Operating Segment and Geograp88
Operating Segment and Geographic Information (Details 2) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 |
Segment Reporting Information [Line Items] | |||
Identifiable assets | $ 143,737 | $ 127,881 | $ 141,974 |
North America [Member] | |||
Segment Reporting Information [Line Items] | |||
Identifiable assets | 143,737 | 127,881 | 127,393 |
Europe [Member] | |||
Segment Reporting Information [Line Items] | |||
Identifiable assets | $ 0 | $ 0 | $ 14,581 |
Operating Segment and Geograp89
Operating Segment and Geographic Information (Details Textual) | 12 Months Ended | ||
Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Segment Reporting Information [Line Items] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 39.40% | ||
Sporting Goods [Member] | |||
Segment Reporting Information [Line Items] | |||
Entity-Wide Revenue, Major Customer, Percentage | 18.00% | 19.00% | 20.00% |
Customer One [Member] | |||
Segment Reporting Information [Line Items] | |||
Percentage Of Accounts Receivables | 27.00% | 23.00% | |
Consolidated Total Revenues [Member] | |||
Segment Reporting Information [Line Items] | |||
Percentage Of Consolidated Revenues For Remaining Customers | No other customer accounted for 10% or more of consolidated total revenues. | ||
Entity-Wide Revenue, Major Customer, Percentage | 18.00% | 16.00% | 16.00% |
Summary of Quarterly Results (D
Summary of Quarterly Results (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 26, 2015 | Oct. 03, 2015 | Jul. 11, 2015 | Mar. 21, 2015 | Dec. 27, 2014 | Oct. 04, 2014 | Jul. 12, 2014 | Mar. 22, 2014 | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | |
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Net Sales | $ 43,744 | $ 34,584 | $ 43,795 | $ 33,419 | $ 40,643 | $ 31,599 | $ 38,012 | $ 27,721 | $ 155,542 | $ 137,975 | $ 132,991 |
Operating income | 2,501 | 1,873 | 4,157 | 4,287 | 4,033 | 4,216 | 3,932 | 3,323 | 12,818 | 15,504 | 16,184 |
Net income from continuing operations | 2,859 | 2,028 | 3,222 | 3,497 | 4,477 | 3,837 | 2,767 | 2,264 | 11,606 | 13,345 | 12,595 |
Net income (loss) from discontinued operations | 0 | 0 | 0 | 0 | (447) | 9,784 | (10,851) | (14) | 0 | (1,528) | (2,790) |
Net income (Loss) | $ 2,859 | $ 2,028 | $ 3,222 | $ 3,497 | $ 4,030 | $ 13,621 | $ (8,084) | $ 2,250 | $ 11,606 | $ 11,817 | $ 9,805 |
Basic Earnings Per Share Data: | |||||||||||
Income from continuing operations | $ 0.20 | $ 0.14 | $ 0.23 | $ 0.25 | $ 0.32 | $ 0.28 | $ 0.20 | $ 0.16 | $ 0.82 | $ 0.96 | $ 0.93 |
Income (loss) from discontinued operations | 0 | 0 | 0 | 0 | (0.03) | 0.70 | (0.78) | 0 | 0 | (0.11) | (0.20) |
Net Income (in dollars per share) | 0.20 | 0.14 | 0.23 | 0.25 | 0.29 | 0.98 | (0.58) | 0.16 | 0.82 | 0.85 | 0.73 |
Diluted Earnings Per Share Data: | |||||||||||
Income from continuing operations | 0.20 | 0.14 | 0.23 | 0.25 | 0.32 | 0.27 | 0.20 | 0.16 | 0.82 | 0.95 | 0.92 |
Income (loss) from discontinued operations | 0 | 0 | 0 | 0 | (0.03) | 0.69 | (0.77) | 0 | 0 | (0.11) | (0.20) |
Net Income (loss) | $ 0.20 | $ 0.14 | $ 0.23 | $ 0.25 | $ 0.29 | $ 0.96 | $ (0.57) | $ 0.16 | $ 0.82 | $ 0.84 | $ 0.72 |
Acquisitions (Details)
Acquisitions (Details) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 |
Assets acquired and liabilities assumed: | ||
Goodwill | $ 20,047 | $ 14,875 |
Goalsetter & Onix [Member] | ||
Assets acquired and liabilities assumed: | ||
Accounts receivable | 795 | |
Inventories | 966 | |
Other assets | 50 | |
Goodwill | 5,172 | |
Intangible assets | 6,286 | |
Accounts payable | (271) | |
Other liabilities | (74) | |
Deferred income tax liability | (2,046) | |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total | $ 10,878 |
Acquisitions (Details Textual)
Acquisitions (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 26, 2015 | Dec. 27, 2014 | Oct. 22, 2014 | Nov. 30, 2013 | |
Business Acquisition [Line Items] | ||||
Goodwill | $ 20,047 | $ 14,875 | ||
Cue And Case Sales, Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition Cost Of Acquired Entity Purchase Price one | $ 10,400 | |||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Finite Lived Intangible Assets Customer Lists | 4,060 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 3,260 | |||
Goodwill | 1,633 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 987 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $ 372 | |||
DMI Sports, Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Acquisition Cost Of Acquired Entity Purchase Price one | $ 6,100 | |||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Finite Lived Intangible Assets Customer Lists | 569 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 2,705 | |||
Goodwill | 1,095 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets | 210 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 706 | |||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Finite Lived Intangible Assets Non Compete | $ 300 | |||
Onix Sports & Goalsetter Systems, Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred, Total | 10,300 | |||
Working Capital Adjustment | $ 600 |
Commitments and Contingencies93
Commitments and Contingencies (Details) | Dec. 26, 2015USD ($) |
Commitments And Contingencies [Line Items] | |
2,016 | $ 460 |
2,017 | 460 |
2,018 | 375 |
2,019 | 0 |
2,020 | 0 |
Thereafter | 0 |
Royalty And License Future Minimum Payments Due | $ 1,295 |
Fair Values of Financial Inst94
Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 26, 2015 | Dec. 27, 2014 | Dec. 28, 2013 | Dec. 29, 2012 |
Financial assets, Carrying Amount | ||||
Cash and cash equivalents, Carrying Amount | $ 1,982 | $ 3,232 | $ 2,346 | $ 2,544 |
Time deposits, Carrying Amount | 0 | 1,450 | ||
Financial liabilities, Carrying Amount | ||||
Notes payable, Carrying Amount | 19,776 | 16,200 | ||
Current portion of Long-term debt, Carrying Amount | 1,810 | 1,586 | ||
Long-term debt, Carrying Amount | 1,750 | 3,360 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets, Fair Value | ||||
Cash and cash equivalents, Fair Value | 1,982 | 3,232 | ||
Time deposits, Fair Value | 0 | 1,450 | ||
Financial liabilities, Fair Value | ||||
Notes payable, Fair Value | 0 | 0 | ||
Current portion of Long-term debt, Fair Value | 0 | 0 | ||
Long-term debt, Fair Value | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets, Fair Value | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Time deposits, Fair Value | 0 | 0 | ||
Financial liabilities, Fair Value | ||||
Notes payable, Fair Value | 19,776 | 16,200 | ||
Current portion of Long-term debt, Fair Value | 1,810 | 1,586 | ||
Long-term debt, Fair Value | 1,750 | 3,360 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets, Fair Value | ||||
Cash and cash equivalents, Fair Value | 0 | 0 | ||
Time deposits, Fair Value | 0 | 0 | ||
Financial liabilities, Fair Value | ||||
Notes payable, Fair Value | 0 | 0 | ||
Current portion of Long-term debt, Fair Value | 0 | 0 | ||
Long-term debt, Fair Value | $ 0 | $ 0 |
Subsequent Events (Details Text
Subsequent Events (Details Textual) - Subsequent Event [Member] $ in Millions | 1 Months Ended |
Jan. 21, 2016USD ($) | |
Revolving Credit Facility [Member] | |
Subsequent Event [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 35 |
Line of Credit Facility, Increase (Decrease), Net, Total | 7.5 |
Triumph Sports USA, Inc [Member] | |
Subsequent Event [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 10 |
Payments to Acquire Businesses, Gross | 9.5 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 1.4 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 1.4 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 0.1 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 0.6 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability | 0.5 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 7.7 |