Franklin Electric (FELE) 10-Q 6 May 15 2015 Q1 Quarterly report Financial data

DOCUMENT_AND_ENTITY_INFORMATIO

DOCUMENT AND ENTITY INFORMATION	3 Months Ended
	Apr. 04, 2015	Apr. 27, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	FRANKLIN ELECTRIC CO INC
Entity Central Index Key	38725
Current Fiscal Year End Date	-1
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	4-Apr-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		47,627,476

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Income Statement
Net sales	$225,728	$231,421
Cost of sales	154,238	153,310
Gross profit	71,490	78,111
Selling, general, and administrative expenses	55,160	52,015
Restructuring expense	463	136
Operating income	15,867	25,960
Interest expense	-2,708	-2,784
Other income, net	3,019	325
Foreign exchange income/(expense)	416	-420
Income before income taxes	16,594	23,081
Income tax expense/(benefit)	-3,382	5,660
Net income	19,976	17,421
Less: Net income attributable to noncontrolling interests	-181	-464
Net income attributable to Franklin Electric Co., Inc.	$19,795	$16,957
Income per share:
Basic (in dollars per share)	$0.41	$0.35
Diluted (in dollars per share)	$0.41	$0.35
Dividends per common share	$0.09	$0.08

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Net income	$19,976	$17,421
Other comprehensive income/(loss), before tax:
Foreign currency translation adjustments	-27,882	2,178
Employee benefit plan activity	987	745
Other comprehensive income/(loss)	-26,895	2,923
Income tax related to items of other comprehensive income	-333	-257
Other comprehensive income/(loss), net of tax	-27,228	2,666
Comprehensive income/(loss)	-7,252	20,087
Comprehensive income/(loss) attributable to noncontrolling interest	-170	326
Comprehensive income/(loss) attributable to Franklin Electric Co., Inc.	($7,082)	$19,761

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$69,593	$59,141
Receivables, less allowances of $3,310 and $3,212, respectively	155,087	143,787
Inventories:
Raw material	94,767	88,961
Work-in-process	19,319	19,148
Finished goods	107,410	112,419
Total inventories	221,496	220,528
Deferred income taxes	15,055	8,364
Other current assets	38,387	37,719
Total current assets	499,618	469,539
Property, plant, and equipment, at cost:
Land and buildings	122,780	127,782
Machinery and equipment	229,542	234,617
Furniture and fixtures	38,485	39,001
Other	18,644	20,539
Property, plant, and equipment, gross	409,451	421,939
Less: Allowance for depreciation	-211,272	-212,153
Property, plant, and equipment, net	198,179	209,786
Asset held for sale	2,041	2,405
Deferred income tax	3,313	3,899
Intangible assets, net	153,533	160,314
Goodwill	204,108	208,828
Other assets	19,965	21,116
Total assets	1,080,757	1,075,887
Current liabilities:
Accounts payable	59,143	70,806
Deferred tax liability	637	637
Accrued expenses and other current liabilities	57,436	94,782
Income taxes	1,096	788
Current maturities of long-term debt and short-term borrowings	103,237	34,092
Total current liabilities	221,549	201,105
Long-term debt	143,189	143,695
Deferred income taxes	43,915	45,568
Employee benefit plans	55,989	58,709
Other long-term liabilities	20,784	21,407
Commitments and contingencies (see Note 16)	0	0
Redeemable noncontrolling interest	6,335	6,420
Shareowners' equity:
Common stock (65,000 shares authorized, $.10 par value) outstanding (47,627 and 47,594, respectively)	4,763	4,759
Additional capital	211,187	207,446
Retained earnings	505,697	492,548
Accumulated other comprehensive loss	-134,790	-107,913
Total shareowners' equity	586,857	596,840
Noncontrolling interest	2,139	2,143
Total equity	588,996	598,983
Total liabilities and equity	$1,080,757	$1,075,887

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Thousands, except Per Share data, unless otherwise specified
Current assets:
Allowance for doubtful accounts (in dollars)	$3,310	$3,212
Shareowners' equity:
Common shares, authorized (in shares)	65,000	65,000
Common shares, par value (in dollars per share)	$0.10	$0.10
Common shares, outstanding	47,627	47,594

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Cash flows from operating activities:
Net income	$19,976	$17,421
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	8,840	8,847
Share-based compensation	2,354	1,392
Deferred income taxes	-6,540	-214
Loss on disposals of plant and equipment	46	5
Realized gain on share purchase liability	-2,723	0
Foreign exchange expense/(income)	-416	420
Excess tax from share-based payment arrangements	-515	-1,448
Changes in assets and liabilities, net of acquisitions:
Receivables	-17,901	-31,451
Inventory	-7,360	-31,408
Accounts payable and accrued expenses	-18,081	8,408
Income taxes	292	1,117
Employee benefit plans	-9	-2,551
Other, net	221	-5,918
Net cash flows from operating activities	-21,816	-35,380
Cash flows from investing activities:
Additions to property, plant, and equipment	-4,205	-8,172
Proceeds from sale of property, plant, and equipment	8	1,592
Cash paid for acquisitions, net of cash acquired	-3,616	0
Cash paid for minority equity investments	0	-2,449
Net cash flows from investing activities	-7,813	-9,029
Cash flows from financing activities:
Proceeds from issuance of debt	77,918	21,191
Repayment of debt	-9,105	-6,550
Proceeds from issuance of common stock	883	635
Excess tax from share-based payment arrangements	515	1,448
Purchases of common stock	-2,288	-1,581
Dividends paid	-4,283	-3,709
Share purchase liability payment	-20,200	0
Net cash flows from financing activities	43,440	11,434
Effect of exchange rate changes on cash	-3,359	559
Net change in cash and equivalents	10,452	-32,416
Cash and equivalents at beginning of period	59,141	134,553
Cash and equivalents at end of period	69,593	102,137
Cash paid for income taxes, net of refunds	3,210	7,905
Cash paid for interest	2,755	3,002
Additions to property, plant, and equipment, not yet paid	221	610
Bombas Leao S.A.
Cash flows from financing activities:
Payable to seller of Bombas Leao	$267	$0

CONDENSED_CONSOLIDATED_FINANCI

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	3 Months Ended
	Apr. 04, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
	The accompanying condensed consolidated balance sheet as of January 3, 2015, which has been derived from audited financial statements, and the unaudited interim condensed consolidated financial statements as of April 4, 2015, and for the first quarters ended April 4, 2015 and March 29, 2014, have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations.  In the opinion of management, all accounting entries and adjustments (including normal, recurring adjustments) considered necessary for a fair presentation of the financial position and the results of operations for the interim period have been made. Operating results for the first quarter ended April 4, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending January 2, 2016. For further information, including a description of the Company’s critical accounting policies, refer to the consolidated financial statements and notes thereto included in Franklin Electric Co., Inc.'s Annual Report on Form 10-K for the year ended January 3, 2015.

ACCOUNTING_PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Apr. 04, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
ACCOUNTING PRONOUNCEMENTS	ACCOUNTING PRONOUNCEMENTS
	Adoption of New Accounting Standards
	In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810), Amendments to the Consolidation Analysis. The amendments affect both the variable interest entity and voting interest entity consolidation models. The need to assess an entity under a different consolidation model may change previous consolidation conclusions. The standard is effective for both interim and annual reporting periods beginning after December 15, 2015 and early adoption is permitted. The Company has adopted this standard with no impact on the Company's consolidated financial position, results of operations, or cash flows.
	Accounting Standards Issued But Not Yet Adopted
	In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. The standard will not change the amortization of debt issuance costs, which will continue to follow the existing accounting guidance. The ASU will be effective for interim and annual periods beginning after December 15, 2015 and early adoption is permitted. The Company is still in the process of analyzing the effect of this new standard to determine the impact on the Company's consolidated financial position, results of operations, and cash flows.
	In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers. ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance. The ASU is effective for annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. However, on April 1, 2015, the FASB voted to propose a one-year deferral to the effective date, but to permit entities to adopt one year earlier if they choose (i.e., the original effective date). The proposal will be subject to the FASB's due process requirement, which includes a period for public comments. Entities have the option of using either a full retrospective or a modified retrospective approach to adopt the new ASU. The Company is still in the process of analyzing the effect of this new standard to determine the impact on the Company's consolidated financial position, results of operations, and cash flows.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Apr. 04, 2015
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS
	In 2012, the Company acquired a controlling interest in Pioneer Pump Holdings, Inc. ("PPH"). Pursuant to the terms of the 2012 stock purchase agreement, the remaining 29.5 percent noncontrolling interest was recorded at $22.9 million and accounted for as a share purchase liability. During the first quarter of 2015, the Company purchased the remaining 29.5 percent of outstanding shares of PPH for $20.2 million, increasing the Company's ownership in PPH to 100 percent. The purchase was considered the settlement of a financing obligation, and the resulting $2.7 million gain is recorded in the Company's condensed consolidated statements of income in the "Other income, net" line.
	Transaction costs for all acquisition related activity were expensed as incurred under the guidance of FASB ASC Topic 805, Business Combinations. Transaction costs included in selling, general, and administrative expenses in the Company’s condensed consolidated statements of income were $0.1 million for the first quarters ended April 4, 2015 and March 29, 2014.

REDEEMABLE_NONCONTROLLING_INTE

REDEEMABLE NONCONTROLLING INTERESTS	3 Months Ended
	Apr. 04, 2015
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS	REDEEMABLE NONCONTROLLING INTERESTS
	On May 2, 2011, the Company completed the acquisition of 80 percent of Impo. In 2014, the Company redeemed 10 percent of the noncontrolling interest of Impo, increasing the Company's ownership to 90 percent. The noncontrolling interest holders have the option, which is embedded in the noncontrolling interest, to require the Company to redeem their ownership interests. The combination of a noncontrolling interest and a redemption feature resulted in a redeemable noncontrolling interest.
	The Company uses the interest method to accrete changes in the anticipated redemption value of the Impo redeemable noncontrolling interest over an amortization period to the earliest projected redemption date. Accretion adjustments for the first quarter ended April 4, 2015 were $0.1 million. No adjustments were necessary for the first quarter ended March 29, 2014. These adjustments were reflected in the computation of earnings per share using the two-class method.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Apr. 04, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS
	FASB ASC Topic 820, Fair Value Measurements and Disclosures, provides guidance for defining, measuring, and disclosing fair value within an established framework and hierarchy. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standard established a fair value hierarchy which requires an entity to maximize the use of observable inputs and to minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value within the hierarchy are as follows:
	Level 1 – Quoted prices for identical assets and liabilities in active markets;
	Level 2 – Quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and
	Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
	As of April 4, 2015 and January 3, 2015, the assets measured at fair value on a recurring basis were as set forth in the table below.
		April 4, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs		Significant Unobservable Inputs (Level 3)
						(Level 2)
	(In millions)
	Cash equivalents	$	3.1	$	3.1	$	—	$	—
		January 3, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Cash equivalents	$	5.4	$	5.4	$	—	$	—
	The Company's Level 1 assets consist of cash equivalents which are generally comprised of foreign bank guaranteed certificates of deposit.
	Total debt, including current maturities, have carrying amounts of $245.8 million and $177.2 million and estimated fair values of $259.7 million and $191.1 million as of April 4, 2015 and January 3, 2015, respectively. The fair value assumed floating rate debt was valued at par. In the absence of quoted prices in active markets, considerable judgment is required in developing estimates of fair value. Estimates are not necessarily indicative of the amounts the Company could realize in a current market transaction. In determining the fair value of its debt, the Company uses estimates based on rates currently available to the Company for debt with similar terms and remaining maturities. Accordingly, the fair value of debt is classified as Level 2 within the valuation hierarchy.
	As of April 4, 2015, the Company had $2.0 million of assets held for sale recorded at carrying value in the Water Systems segment relating to a facility in Brazil.

FINANCIAL_INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Apr. 04, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS
	The Company’s deferred compensation stock program is subject to variable plan accounting and, accordingly, is adjusted for changes in the Company’s stock price at the end of each reporting period. During February 2014, the Company entered into a share swap transaction agreement ("the swap") to mitigate the Company’s exposure to these fluctuations in the Company's stock price. The Company renewed the swap agreement in February 2015. The swap was not designated as a hedge for accounting purposes and is cancellable with 30 days written notice by either party. The swap has a notional value based on 147,750 shares. For the first quarters ended April 4, 2015 and March 29, 2014, the swap resulted in losses of $0.1 million and $0.2 million, respectively. All gains or losses and expenses related to the swap are recorded in the Company's condensed consolidated statements of income within the “Selling, general, and administrative expenses” line.

OTHER_ASSETS

OTHER ASSETS	3 Months Ended
	Apr. 04, 2015
Equity Method Investments and Joint Ventures [Abstract]
OTHER ASSETS	OTHER ASSETS
	The Company has equity interests in various companies for strategic purposes. The investments are accounted for under the equity method and are included in the “Other assets” line on the Company’s condensed consolidated balance sheet. The carrying amount of the investments are adjusted for the Company's proportionate share of earnings, losses, and dividends. The investments are not considered material to the Company’s financial position, neither individually nor in the aggregate. The Company’s proportionate share of earnings from its equity interests, included in the "Other income, net" line of the Company's condensed consolidated statements of income, was immaterial for the first quarters ended April 4, 2015 and March 29, 2014.

GOODWILL_AND_OTHER_INTANGIBLE_

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Apr. 04, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS
	The carrying amounts of the Company’s intangible assets are as follows:
	(In millions)	April 4, 2015						January 3, 2015
		Gross Carrying Amount			Accumulated Amortization			Gross Carrying Amount			Accumulated Amortization
	Amortized intangibles:
	Patents	$	7.5		$	(6.1	)	$	7.6		$	(6.1	)
	Supply agreements	4.4			(4.4		)	4.4			(4.4		)
	Technology	7.5			(4.4		)	7.5			(4.3		)
	Customer relationships	137.1			(37.6		)	140.2			(36.5		)
	Software	2.7			(1.7		)	2.9			(1.7		)
	Other	1			(1.0		)	1.2			(1.2		)
	Total	$	160.2		$	(55.2	)	$	163.8		$	(54.2	)
	Unamortized intangibles:
	Trade names	48.5			—			50.7			—
	Total intangibles	$	208.7		$	(55.2	)	$	214.5		$	(54.2	)
	Changes in carrying values for intangible assets are primarily attributed to the impact of foreign exchange for the first quarter ended April 4, 2015.
	Amortization expense related to intangible assets for the first quarters ended April 4, 2015 and March 29, 2014 was $2.2 million and $2.0 million, respectively.
	Amortization expense for each of the five succeeding years is projected as follows:
	(In millions)	2015			2016			2017			2018			2019
		$	8.7		$	8.7		$	8.5		$	8.5		$	8.2
	The change in the carrying amount of goodwill by reporting segment for the first quarter ended April 4, 2015, is as follows:
	(In millions)
		Water Systems			Fueling Systems			Consolidated
	Balance as of January 3, 2015	$	145.3		$	63.5		$	208.8
	Acquisitions	0.1			—			0.1
	Foreign currency translation	(4.6		)	(0.2		)	(4.8		)
	Balance as of April 4, 2015	$	140.8		$	63.3		$	204.1

EMPLOYEE_BENEFIT_PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Apr. 04, 2015
Compensation and Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS
	Defined Benefit Plans - As of April 4, 2015, the Company maintained two domestic pension plans and three German pension plans. The Company used a January 3, 2015 measurement date for these plans. One of the Company's domestic pension plans covers two management employees, while the other domestic plan covers all other eligible employees. The two domestic and three German plans collectively comprise the 'Pension Benefits' disclosure caption.
	Other Benefits - The Company's other postretirement benefit plan provides health and life insurance to domestic employees hired prior to 1992.
	The following table sets forth the aggregated net periodic benefit cost for all pension and postretirement plans for the first quarters ended April 4, 2015 and March 29, 2014, respectively:
	(In millions)	Pension Benefits						Other Benefits
		First Quarter Ended						First Quarter Ended
		April 4, 2015			March 29, 2014			April 4, 2015		March 29, 2014
	Service cost	$	0.3		$	0.3		$	—	$	—
	Interest cost	1.8			2			0.1		0.1
	Expected return on assets	(2.5		)	(2.6		)	—		—
	Amortization of prior service cost	—			—			0.1		0.1
	Amortization of loss	0.8			0.6			0.1		—
	Net periodic benefit cost	$	0.4		$	0.3		$	0.3	$	0.2
	Settlement cost	0.3			0.2			—		—
	Total net periodic benefit cost	$	0.7		$	0.5		$	0.3	$	0.2
	In the first quarter ended April 4, 2015, the Company made contributions of $0.8 million to the funded plans. The amount of contributions to be made to the plans during the calendar year 2015 will be finalized September 15, 2015, based upon the plan's year-end valuation at January 3, 2015, and the funding level required for the plan year ended January 3, 2015.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Apr. 04, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES
	The effective tax rate continues to be lower than the U.S. statutory rate of 35.0 percent primarily due to the indefinite reinvestment of foreign earnings taxed at rates below the U.S. statutory rate, recognition of U.S and foreign tax credits and discrete items in the quarter.  The Company has the ability to indefinitely reinvest these foreign earnings based on the earnings and cash projections of its operations as well as cash on hand and available credit. In addition, the Company redeemed the minority shareholdings of a subsidiary during the first quarter. This transaction resulted in the recording of tax benefits in the first quarter of $7.3 million from the reversal of related deferred tax liabilities along with an additional $1.0 million current benefit related to the gain of the mandatory share purchase liability included in the "Other income, net" line in the Company’s condensed consolidated statements of income.

DEBT

DEBT	3 Months Ended
	Apr. 04, 2015
Debt Disclosure [Abstract]
DEBT	DEBT
	Debt consisted of the following:
	(In millions)	April 4, 2015			January 3, 2015
	Prudential Agreement - 5.79 percent	$	150		$	150
	Tax increment financing debt	23.2			23.7
	Revolver	69.9			—
	Capital leases	0.6			0.6
	Foreign subsidiary debt	2.7			3.5
		246.4			177.8
	Less current maturities	(103.2		)	(34.1		)
	Long-term debt	$	143.2		$	143.7
	During the first quarter ended April 4, 2015, a portion of the Revolver borrowing (the "Credit Agreement") was used for working capital needs.
	On May 5, 2015, the Company executed the following agreements:  Amendment No. 6 to the Prudential Agreement; Amendment No. 3 to the Credit Agreement; and Amendment No. 1 to the Bond Purchase and Loan Agreement. Each of those agreements provides for debt repayment guarantees from certain Company subsidiaries and waives certain non-financial covenants related to subsidiary guarantees.
	The following debt payments are expected to be paid in accordance with the following schedule:
	(In millions)	Total			Year 1			Year 2		Year 3		Year 4		Year 5		More Than 5 Years
	Debt	$	245.8		$	102.9		$	31.1	$	31.1	$	31.4	$	31.1	$	18.2
	Capital leases	0.6			0.3			0.1		0.1		0.1		—		—
		$	246.4		$	103.2		$	31.2	$	31.2	$	31.5	$	31.1	$	18.2

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Apr. 04, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE
	The Company calculates basic and diluted earnings per common share using the two-class method. Under the two-class method, net earnings are allocated to each class of common stock and participating security as if all of the net earnings for the period had been distributed. The Company's participating securities consist of share-based payment awards that contain a nonforfeitable right to receive dividends and therefore are considered to participate in undistributed earnings with common shareholders.
	Basic earnings per common share excludes dilution and is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing net earnings allocated to common shares by the weighted-average number of common shares outstanding for the period, as adjusted for the potential dilutive effect of non-participating share-based awards.
	The following table sets forth the computation of basic and diluted earnings per share:
		First Quarter Ended
	(In millions, except per share amounts)	April 4, 2015		March 29, 2014
	Numerator:
	Net income attributable to Franklin Electric Co., Inc.	$	19.8	$	17
	Less: Undistributed earnings allocated to participating securities	0.2		0.3
	Less: Undistributed earnings allocated to redeemable noncontrolling interest	0.1		—
		$	19.5	$	16.7
	Denominator:
	Basic
	Weighted average common shares	47.6		47.7
	Diluted
	Effect of dilutive securities:
	Non-participating employee incentive stock options and performance awards	0.5		0.6
	Adjusted weighted average common shares	48.1		48.3
	Basic earnings per share	$	0.41	$	0.35
	Diluted earnings per share	$	0.41	$	0.35
	Anti-dilutive stock options	0.2		—

EQUITY_ROLL_FORWARD

EQUITY ROLL FORWARD	3 Months Ended
	Apr. 04, 2015
Equity [Abstract]
EQUITY ROLL FORWARD	EQUITY ROLL FORWARD
	The schedule below sets forth equity changes in the first quarter ended April 4, 2015:
	(In thousands)	Common Stock			Additional Paid in Capital		Retained Earnings			Minimum Pension Liability			Cumulative Translation Adjustment			Noncontrolling Interest			Total Equity			Redeemable Noncontrolling Interest
	Balance as of January 3, 2015	$	4,759		$	207,446	$	492,548		$	(56,124	)	$	(51,789	)	$	2,143		$	598,983		$	6,420
	Net income						19,795									150			19,945			31
	Adjustment to Impo redemption value						(81		)										(81		)	81
	Dividends on common stock						(4,283		)										(4,283		)
	Common stock issued	5			878														883
	Common stock repurchased or received for stock options exercised	(6		)			(2,282		)										(2,288		)
	Share-based compensation	5			2,349														2,354
	Tax benefit of stock options exercised				514														514
	Currency translation adjustment												(27,531		)	(154		)	(27,685		)	(197		)
	Pension liability, net of tax									654									654
	Balance as of April 4, 2015	$	4,763		$	211,187	$	505,697		$	(55,470	)	$	(79,320	)	$	2,139		$	588,996		$	6,335

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	3 Months Ended
	Apr. 04, 2015
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)
	Changes in accumulated other comprehensive income/(loss) by component for the first quarters ended April 4, 2015 and March 29, 2014, are summarized below:
	(In millions)
	For the first quarter ended April 4, 2015:	Foreign Currency Translation Adjustments			Pension and Post-Retirement Plan Benefit Adjustments				Total
	Balance as of January 3, 2015	$	(51.8	)	$	(56.1	)		$	(107.9	)
	Other comprehensive income/(loss) before reclassifications:
	Pre-tax income/(loss)	(27.8		)	—				(27.8		)
	Income tax expense	—			—				—
	Other comprehensive income/(loss) before reclassifications, net of income taxes	(27.8		)	—				(27.8		)
	Amounts reclassified from accumulated other comprehensive income/(loss):
	Pre-tax income	—			1			-1	1
	Income tax expense	—			(0.4		)		(0.4		)
	Amounts reclassified from accumulated other comprehensive income/(loss), net of income taxes	—			0.6				0.6
	Net current period other comprehensive income/(loss), net of income taxes	(27.8		)	0.6				(27.2		)
	Other comprehensive income/(loss) attributable to noncontrolling interest	(0.3		)	—				(0.3		)
	Balance as of April 4, 2015	$	(79.3	)	$	(55.5	)		$	(134.8	)
	For the first quarter ended March 29, 2014:
	Balance as of December 28, 2013	$	(16.0	)	$	(38.7	)		$	(54.7	)
	Other comprehensive income/(loss) before reclassifications:
	Pre-tax income/(loss)	2.1			—				2.1
	Income tax expense	—			—				—
	Other comprehensive income/(loss) before reclassifications, net of income taxes	2.1			—				2.1
	Amounts reclassified from accumulated other comprehensive income/(loss):
	Pre-tax income	—			0.7			-1	0.7
	Income tax expense	—			(0.3		)		(0.3		)
	Amounts reclassified from accumulated other comprehensive income/(loss), net of income taxes	—			0.4				0.4
	Net current period other comprehensive income/(loss), net of income taxes	2.1			0.4				2.5
	Other comprehensive income/(loss) attributable to noncontrolling interest	(0.3		)	—				(0.3		)
	Balance as of March 29, 2014	$	(13.6	)	$	(38.3	)		$	(51.9	)
	(1) This accumulated other comprehensive income/(loss) component is included in the computation of net periodic pension cost (refer to Note 9 for additional details) and is included in the "Selling, general, and administrative expenses" line of the Company's condensed consolidated statements of income.

SEGMENT_INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Apr. 04, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION
	Financial information by reportable business segment is included in the following summary:
		First Quarter Ended
	(In millions)	April 4, 2015			March 29, 2014
		Net sales to external customers
	Water Systems	$	179.2		$	184.6
	Fueling Systems	46.5			46.8
	Other	—			—
	Consolidated	$	225.7		$	231.4
		First Quarter Ended
		April 4, 2015			March 29, 2014
		Operating income (loss)
	Water Systems	$	19.4		$	29.2
	Fueling Systems	9.6			9.1
	Other	(13.1		)	(12.3		)
	Consolidated	$	15.9		$	26
		April 4, 2015			January 3, 2015
		Total assets
	Water Systems	$	761.6		$	757.5
	Fueling Systems	251.6			252.7
	Other	67.6			65.7
	Consolidated	$	1,080.80		$	1,075.90
	Property, plant, and equipment is the major asset group in "Other" of total assets at April 4, 2015 and January 3, 2015.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Apr. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	In August 2010, the California Air Resources Board (“CARB”) and South Coast Air Quality Management District (“SCAQMD”) filed civil complaints in the Los Angeles Superior Court against the Company and Franklin Fueling Systems, Inc.  The complaints related to a third-party-supplied component part of the Company's Healy 900 Series nozzle, which is part of the Company's Enhanced Vapor Recovery (“EVR”) Systems installed in California gasoline filling stations.  This part, a diaphragm, was the subject of a retrofit during the first half of 2008.  As the Company previously reported, in October 2008 CARB issued a Notice of Violation to the Company alleging that the circumstances leading to the retrofit program violated California statutes and regulations.
	The claims in the complaints mirrored those that CARB presented to the Company in the Notice of Violation, and included claims that the Company negligently and intentionally sold nozzles with a modified diaphragm without required CARB certification. Those complaints were consolidated into one case in the Superior Court of California, County of Los Angeles (People of the State of California vs. Franklin Fueling Systems, Inc. et al.) which was tried in the later part of December 2012 and early part of January 2013 (“CARB Case”).
	On July 25, 2013, the Court issued a Final Statement of Decision (“Decision”) in the CARB Case.  In its Decision, the Court found on behalf of the Company and issued a complete defense verdict.  Judgment was entered on August 27, 2013.  An Amended Judgment awarding the Company $0.1 million in costs was entered by the Court on January 22, 2014. On July 16, 2014, CARB appealed and filed its brief in support of the appeal. The Company filed its response brief on December 23, 2014 and CARB filed its reply brief on February 2, 2015. The case is now with the California Court of Appeals to either make a ruling on these briefs or schedule an oral argument. The Company has not been notified regarding the status of this matter at this time.
	Neither of these suits has had any effect on CARB's certification of the Company's EVR System or any other products of the Company or its subsidiaries, and did not interfere with continuing sales.  CARB has never decertified the Company's EVR System and has never proposed to do so.
	The Company is defending various other claims and legal actions, including environmental matters, which have arisen in the
	ordinary course of business. In the opinion of management, based on current knowledge of the facts and after discussion with
	counsel, these claims and legal actions can be successfully defended or resolved without a material adverse effect on the
	Company’s financial position, results of operations, and net cash flows.
	At April 4, 2015, the Company had $12.0 million of commitments primarily for capital expenditures and purchase of raw materials to be used in production.
	The Company provides warranties on most of its products. The warranty terms vary but are generally 2 years from date of manufacture or 1 year from date of installation. In 2007, the Company began offering an extended warranty program to certain Water Systems customers which provides warranty coverage up to 5 years from date of manufacture. Provisions for estimated expenses related to product warranty are made at the time products are sold or when specific warranty issues are identified. These estimates are established using historical information about the nature, frequency, and average cost of warranty claims. The Company actively studies trends of warranty claims and takes actions to improve product quality and minimize warranty claims. The Company believes that the warranty reserve is appropriate; however, actual claims incurred could differ from the original estimates, requiring adjustments to the reserve.
	The changes in the carrying amount of the warranty accrual, as recorded in the "Accrued expenses and other current liabilities" line of the Company's condensed consolidated balance sheet for the first quarter ended April 4, 2015, are as follows:
	(In millions)
	Balance as of January 3, 2015	$	9.4
	Accruals related to product warranties	1.4
	Reductions for payments made	(2.1		)
	Balance as of April 4, 2015	$	8.7

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Apr. 04, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION
	The Company maintains the Franklin Electric Co., Inc. 2012 Stock Plan (the "2012 Stock Plan"), which is a stock-based compensation plan that provides for discretionary grants of stock options, stock awards, and stock unit awards to key employees and non-employee directors.
	The 2012 Stock Plan authorizes 2,400,000 shares for issuance as follows:
	2012 Stock Plan		Authorized Shares
	Stock Options		1,680,000
	Stock/Stock Unit Awards		720,000
	The Company also maintains the Amended and Restated Franklin Electric Co., Inc. Stock Plan (the "2009 Stock Plan") which, as amended in 2009, provided for discretionary grants of stock options and stock awards. The 2009 Stock Plan authorized 4,400,000 shares for issuance as follows:
	2009 Stock Plan	Authorized Shares
	Stock Options	3,200,000
	Stock Awards	1,200,000
	All options in the 2009 Stock Plan have been awarded.
	The Company currently issues new shares from its common stock balance to satisfy option exercises and the settlement of stock awards and stock unit awards made under the 2009 Stock Plan and/or the 2012 Stock Plan.
	Stock Options:
	The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model with a single approach and amortized using a straight-line attribution method over the option’s vesting period.
	The assumptions used for the Black-Scholes model to determine the fair value of options granted during the first quarters ended April 4, 2015 and March 29, 2014, are as follows:
			April 4, 2015			March 29, 2014
	Risk-free interest rate		1.59	%		1.68	%
	Dividend yield		0.95	%		0.7	%
	Volatility factor		0.379			0.387
	Expected term		5.5 years			5.6 years
	Forfeiture rate		3.67	%		3.81	%
	There were 184,706 and 92,946 stock options granted during the first quarters ended April 4, 2015 and March 29, 2014.
	A summary of the Company’s outstanding stock option activity and related information for the first quarters ended April 4, 2015 and March 29, 2014, is as follows:
	(Shares in thousands)		April 4, 2015					March 29, 2014
			Shares			Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
	Stock Options
	Outstanding at beginning of period		1,397			$	21.17	1,476		$	19.01
	Granted		185			36.67		93		43.27
	Exercised		(46	)		19.36		(34	)	18.57
	Forfeited		—			—		(2	)	26.95
	Outstanding at end of period		1,536			$	23.09	1,533		$	20.48
	Expected to vest after applying forfeiture rate		1,511			$	22.86	1,511		$	20.31
	Vested and exercisable at end of period		1,124			$	18.75	1,070		$	16.34
	A summary of the weighted-average remaining contractual term and aggregate intrinsic value for the first quarter ended April 4, 2015 is as follows:
			Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value (000's)
	Outstanding at end of period		5.87 years		$	23,421
	Expected to vest after applying forfeiture rate		5.82 years		$	23,365
	Vested and exercisable at end of period		4.77 years		$	21,781
	The total intrinsic value of options exercised was $0.8 million during the first quarters ended April 4, 2015 and March 29, 2014.
	As of April 4, 2015, there was $2.5 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements related to stock options granted under the 2012 Stock Plan and the 2009 Stock Plan. That cost is expected to be recognized over a weighted-average period of 3.03 years.
	Stock/Stock Unit Awards:
	A summary of the Company’s restricted stock/stock unit award activity and related information for the first quarters ended April 4, 2015 and March 29, 2014, is as follows:
	(Shares in thousands)		April 4, 2015					March 29, 2014
	Stock/Stock Unit Awards					Weighted-Average Grant-				Weighted-Average Grant-
			Shares			Date Fair Value		Shares		Date Fair Value
	Non-vested at beginning of period		554			$	32.72	551		$	24.75
	Awarded		120			36.67		172		43.37
	Vested		(74	)		25.01		(110	)	15.75
	Forfeited		—			—		(56	)	27.81
	Non-vested at end of period		600			$	34.47	557		$	31.96
	As of April 4, 2015, there was $11.7 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements related to stock/stock unit awards granted under the 2012 Stock Plan and the 2009 Stock Plan.  That cost is expected to be recognized over a weighted-average period of 2.70 years.

RESTRUCTURING

RESTRUCTURING	3 Months Ended
	Apr. 04, 2015
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING
	On July 1, 2014, the Company announced a plan to close its Wittlich, Germany manufacturing facility. As part of this action, the Company will transfer the existing Wittlich manufacturing activity to its Brno, Czech Republic facility. The Company will maintain its European Water Systems headquarters and distribution center in Wittlich, only the manufacturing operations will be relocating. The realignment began in the third quarter of 2014 and is estimated to conclude by the end of 2016. Charges for the realignment are expected to be approximately $19.4 million and will include severance expenses, professional service fees, asset write-offs, and temporarily leased facilities costs.
	Costs incurred in the first quarter ended April 4, 2015, included in the “Restructuring expense” line of the Company's condensed consolidated statements of income, are as follows:
		First Quarter Ended
		April 4, 2015
	(In millions)	Water Systems		Fueling Systems		Other		Consolidated
	Employee severance	$	—	$	0.2	$	—	$	0.2
	Equipment relocation	0.1		—		—		0.1
	Other	0.2		—		—		0.2
	Total	$	0.3	$	0.2	$	—	$	0.5
	Restructuring expenses, relating primarily to severance for the first quarter ended March 29, 2014, were approximately $0.1 million.
	As of April 4, 2015, there was $6.4 million in restructuring reserves primarily for severance. As of March 29, 2014, there were no restructuring reserves.

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Apr. 04, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets Measured on Recurring Basis	As of April 4, 2015 and January 3, 2015, the assets measured at fair value on a recurring basis were as set forth in the table below.
		April 4, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs		Significant Unobservable Inputs (Level 3)
						(Level 2)
	(In millions)
	Cash equivalents	$	3.1	$	3.1	$	—	$	—
		January 3, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Cash equivalents	$	5.4	$	5.4	$	—	$	—

GOODWILL_AND_OTHER_INTANGIBLE_1

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Apr. 04, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amounts of Intangible Assets	The carrying amounts of the Company’s intangible assets are as follows:
	(In millions)	April 4, 2015						January 3, 2015
		Gross Carrying Amount			Accumulated Amortization			Gross Carrying Amount			Accumulated Amortization
	Amortized intangibles:
	Patents	$	7.5		$	(6.1	)	$	7.6		$	(6.1	)
	Supply agreements	4.4			(4.4		)	4.4			(4.4		)
	Technology	7.5			(4.4		)	7.5			(4.3		)
	Customer relationships	137.1			(37.6		)	140.2			(36.5		)
	Software	2.7			(1.7		)	2.9			(1.7		)
	Other	1			(1.0		)	1.2			(1.2		)
	Total	$	160.2		$	(55.2	)	$	163.8		$	(54.2	)
	Unamortized intangibles:
	Trade names	48.5			—			50.7			—
	Total intangibles	$	208.7		$	(55.2	)	$	214.5		$	(54.2	)
Schedule of Amortization Expense	Amortization expense for each of the five succeeding years is projected as follows:
	(In millions)	2015			2016			2017			2018			2019
		$	8.7		$	8.7		$	8.5		$	8.5		$	8.2
Schedule of Change in the Carrying Amount of Goodwill by Reporting Segment	The change in the carrying amount of goodwill by reporting segment for the first quarter ended April 4, 2015, is as follows:
	(In millions)
		Water Systems			Fueling Systems			Consolidated
	Balance as of January 3, 2015	$	145.3		$	63.5		$	208.8
	Acquisitions	0.1			—			0.1
	Foreign currency translation	(4.6		)	(0.2		)	(4.8		)
	Balance as of April 4, 2015	$	140.8		$	63.3		$	204.1

EMPLOYEE_BENEFIT_PLANS_Tables

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Apr. 04, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans
Schedule of Aggregated Net Periodic Benefit Cost and Other Benefit Cost	The following table sets forth the aggregated net periodic benefit cost for all pension and postretirement plans for the first quarters ended April 4, 2015 and March 29, 2014, respectively:
	(In millions)	Pension Benefits						Other Benefits
		First Quarter Ended						First Quarter Ended
		April 4, 2015			March 29, 2014			April 4, 2015		March 29, 2014
	Service cost	$	0.3		$	0.3		$	—	$	—
	Interest cost	1.8			2			0.1		0.1
	Expected return on assets	(2.5		)	(2.6		)	—		—
	Amortization of prior service cost	—			—			0.1		0.1
	Amortization of loss	0.8			0.6			0.1		—
	Net periodic benefit cost	$	0.4		$	0.3		$	0.3	$	0.2
	Settlement cost	0.3			0.2			—		—
	Total net periodic benefit cost	$	0.7		$	0.5		$	0.3	$	0.2

DEBT_Tables

DEBT (Tables)	3 Months Ended
	Apr. 04, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Debt consisted of the following:
	(In millions)	April 4, 2015			January 3, 2015
	Prudential Agreement - 5.79 percent	$	150		$	150
	Tax increment financing debt	23.2			23.7
	Revolver	69.9			—
	Capital leases	0.6			0.6
	Foreign subsidiary debt	2.7			3.5
		246.4			177.8
	Less current maturities	(103.2		)	(34.1		)
	Long-term debt	$	143.2		$	143.7
Schedule of Long-term Debt Payments	The following debt payments are expected to be paid in accordance with the following schedule:
	(In millions)	Total			Year 1			Year 2		Year 3		Year 4		Year 5		More Than 5 Years
	Debt	$	245.8		$	102.9		$	31.1	$	31.1	$	31.4	$	31.1	$	18.2
	Capital leases	0.6			0.3			0.1		0.1		0.1		—		—
		$	246.4		$	103.2		$	31.2	$	31.2	$	31.5	$	31.1	$	18.2

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Apr. 04, 2015
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share:
		First Quarter Ended
	(In millions, except per share amounts)	April 4, 2015		March 29, 2014
	Numerator:
	Net income attributable to Franklin Electric Co., Inc.	$	19.8	$	17
	Less: Undistributed earnings allocated to participating securities	0.2		0.3
	Less: Undistributed earnings allocated to redeemable noncontrolling interest	0.1		—
		$	19.5	$	16.7
	Denominator:
	Basic
	Weighted average common shares	47.6		47.7
	Diluted
	Effect of dilutive securities:
	Non-participating employee incentive stock options and performance awards	0.5		0.6
	Adjusted weighted average common shares	48.1		48.3
	Basic earnings per share	$	0.41	$	0.35
	Diluted earnings per share	$	0.41	$	0.35
	Anti-dilutive stock options	0.2		—

EQUITY_ROLL_FORWARD_Tables

EQUITY ROLL FORWARD (Tables)	3 Months Ended
	Apr. 04, 2015
Equity [Abstract]
Schedule of Stockholders' Equity	The schedule below sets forth equity changes in the first quarter ended April 4, 2015:
	(In thousands)	Common Stock			Additional Paid in Capital		Retained Earnings			Minimum Pension Liability			Cumulative Translation Adjustment			Noncontrolling Interest			Total Equity			Redeemable Noncontrolling Interest
	Balance as of January 3, 2015	$	4,759		$	207,446	$	492,548		$	(56,124	)	$	(51,789	)	$	2,143		$	598,983		$	6,420
	Net income						19,795									150			19,945			31
	Adjustment to Impo redemption value						(81		)										(81		)	81
	Dividends on common stock						(4,283		)										(4,283		)
	Common stock issued	5			878														883
	Common stock repurchased or received for stock options exercised	(6		)			(2,282		)										(2,288		)
	Share-based compensation	5			2,349														2,354
	Tax benefit of stock options exercised				514														514
	Currency translation adjustment												(27,531		)	(154		)	(27,685		)	(197		)
	Pension liability, net of tax									654									654
	Balance as of April 4, 2015	$	4,763		$	211,187	$	505,697		$	(55,470	)	$	(79,320	)	$	2,139		$	588,996		$	6,335

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	3 Months Ended
	Apr. 04, 2015
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	Changes in accumulated other comprehensive income/(loss) by component for the first quarters ended April 4, 2015 and March 29, 2014, are summarized below:
	(In millions)
	For the first quarter ended April 4, 2015:	Foreign Currency Translation Adjustments			Pension and Post-Retirement Plan Benefit Adjustments				Total
	Balance as of January 3, 2015	$	(51.8	)	$	(56.1	)		$	(107.9	)
	Other comprehensive income/(loss) before reclassifications:
	Pre-tax income/(loss)	(27.8		)	—				(27.8		)
	Income tax expense	—			—				—
	Other comprehensive income/(loss) before reclassifications, net of income taxes	(27.8		)	—				(27.8		)
	Amounts reclassified from accumulated other comprehensive income/(loss):
	Pre-tax income	—			1			-1	1
	Income tax expense	—			(0.4		)		(0.4		)
	Amounts reclassified from accumulated other comprehensive income/(loss), net of income taxes	—			0.6				0.6
	Net current period other comprehensive income/(loss), net of income taxes	(27.8		)	0.6				(27.2		)
	Other comprehensive income/(loss) attributable to noncontrolling interest	(0.3		)	—				(0.3		)
	Balance as of April 4, 2015	$	(79.3	)	$	(55.5	)		$	(134.8	)
	For the first quarter ended March 29, 2014:
	Balance as of December 28, 2013	$	(16.0	)	$	(38.7	)		$	(54.7	)
	Other comprehensive income/(loss) before reclassifications:
	Pre-tax income/(loss)	2.1			—				2.1
	Income tax expense	—			—				—
	Other comprehensive income/(loss) before reclassifications, net of income taxes	2.1			—				2.1
	Amounts reclassified from accumulated other comprehensive income/(loss):
	Pre-tax income	—			0.7			-1	0.7
	Income tax expense	—			(0.3		)		(0.3		)
	Amounts reclassified from accumulated other comprehensive income/(loss), net of income taxes	—			0.4				0.4
	Net current period other comprehensive income/(loss), net of income taxes	2.1			0.4				2.5
	Other comprehensive income/(loss) attributable to noncontrolling interest	(0.3		)	—				(0.3		)
	Balance as of March 29, 2014	$	(13.6	)	$	(38.3	)		$	(51.9	)
	(1) This accumulated other comprehensive income/(loss) component is included in the computation of net periodic pension cost (refer to Note 9 for additional details) and is included in the "Selling, general, and administrative expenses" line of the Company's condensed consolidated statements of income.

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	3 Months Ended
	Apr. 04, 2015
Segment Reporting [Abstract]
Schedule of Financial Information by Reportable Business Segment	Financial information by reportable business segment is included in the following summary:
		First Quarter Ended
	(In millions)	April 4, 2015			March 29, 2014
		Net sales to external customers
	Water Systems	$	179.2		$	184.6
	Fueling Systems	46.5			46.8
	Other	—			—
	Consolidated	$	225.7		$	231.4
		First Quarter Ended
		April 4, 2015			March 29, 2014
		Operating income (loss)
	Water Systems	$	19.4		$	29.2
	Fueling Systems	9.6			9.1
	Other	(13.1		)	(12.3		)
	Consolidated	$	15.9		$	26
		April 4, 2015			January 3, 2015
		Total assets
	Water Systems	$	761.6		$	757.5
	Fueling Systems	251.6			252.7
	Other	67.6			65.7
	Consolidated	$	1,080.80		$	1,075.90

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Apr. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of the Warranty Accrual	The changes in the carrying amount of the warranty accrual, as recorded in the "Accrued expenses and other current liabilities" line of the Company's condensed consolidated balance sheet for the first quarter ended April 4, 2015, are as follows:
	(In millions)
	Balance as of January 3, 2015	$	9.4
	Accruals related to product warranties	1.4
	Reductions for payments made	(2.1		)
	Balance as of April 4, 2015	$	8.7

SHAREBASED_COMPENSATION_Tables

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Apr. 04, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Authorized Number of Shares	The 2012 Stock Plan authorizes 2,400,000 shares for issuance as follows:
	2012 Stock Plan		Authorized Shares
	Stock Options		1,680,000
	Stock/Stock Unit Awards		720,000
	The Company also maintains the Amended and Restated Franklin Electric Co., Inc. Stock Plan (the "2009 Stock Plan") which, as amended in 2009, provided for discretionary grants of stock options and stock awards. The 2009 Stock Plan authorized 4,400,000 shares for issuance as follows:
	2009 Stock Plan	Authorized Shares
	Stock Options	3,200,000
	Stock Awards	1,200,000
Schedule of Assumptions Used to Determine the Fair Value of Options Granted	The assumptions used for the Black-Scholes model to determine the fair value of options granted during the first quarters ended April 4, 2015 and March 29, 2014, are as follows:
			April 4, 2015			March 29, 2014
	Risk-free interest rate		1.59	%		1.68	%
	Dividend yield		0.95	%		0.7	%
	Volatility factor		0.379			0.387
	Expected term		5.5 years			5.6 years
	Forfeiture rate		3.67	%		3.81	%
Schedule of Stock Option Plans Activity	A summary of the Company’s outstanding stock option activity and related information for the first quarters ended April 4, 2015 and March 29, 2014, is as follows:
	(Shares in thousands)		April 4, 2015					March 29, 2014
			Shares			Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
	Stock Options
	Outstanding at beginning of period		1,397			$	21.17	1,476		$	19.01
	Granted		185			36.67		93		43.27
	Exercised		(46	)		19.36		(34	)	18.57
	Forfeited		—			—		(2	)	26.95
	Outstanding at end of period		1,536			$	23.09	1,533		$	20.48
	Expected to vest after applying forfeiture rate		1,511			$	22.86	1,511		$	20.31
	Vested and exercisable at end of period		1,124			$	18.75	1,070		$	16.34
Schedule of Stock Options, Contractual Term and Aggregate Intrinsic Value	A summary of the weighted-average remaining contractual term and aggregate intrinsic value for the first quarter ended April 4, 2015 is as follows:
			Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value (000's)
	Outstanding at end of period		5.87 years		$	23,421
	Expected to vest after applying forfeiture rate		5.82 years		$	23,365
	Vested and exercisable at end of period		4.77 years		$	21,781
Schedule of Restricted Stock/Stock Unit Award Activity	A summary of the Company’s restricted stock/stock unit award activity and related information for the first quarters ended April 4, 2015 and March 29, 2014, is as follows:
	(Shares in thousands)		April 4, 2015					March 29, 2014
	Stock/Stock Unit Awards					Weighted-Average Grant-				Weighted-Average Grant-
			Shares			Date Fair Value		Shares		Date Fair Value
	Non-vested at beginning of period		554			$	32.72	551		$	24.75
	Awarded		120			36.67		172		43.37
	Vested		(74	)		25.01		(110	)	15.75
	Forfeited		—			—		(56	)	27.81
	Non-vested at end of period		600			$	34.47	557		$	31.96

RESTRUCTURING_Tables

RESTRUCTURING (Tables)	3 Months Ended
	Apr. 04, 2015
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Cost Incurred, Included in Restructuring Expense	Costs incurred in the first quarter ended April 4, 2015, included in the “Restructuring expense” line of the Company's condensed consolidated statements of income, are as follows:
		First Quarter Ended
		April 4, 2015
	(In millions)	Water Systems		Fueling Systems		Other		Consolidated
	Employee severance	$	—	$	0.2	$	—	$	0.2
	Equipment relocation	0.1		—		—		0.1
	Other	0.2		—		—		0.2
	Total	$	0.3	$	0.2	$	—	$	0.5

ACQUISITIONS_Details

ACQUISITIONS (Details) (USD $)	3 Months Ended
	Apr. 04, 2015	Mar. 29, 2014	Mar. 07, 2012
Business Acquisition
Realized gain on share purchase liability	($2,723,000)	$0
Business combination, acquisition related costs	100,000	100,000
Pioneer Pump Holdings Inc
Business Acquisition
Ownership percentage by noncontrolling interest holders			29.50%
Business combination percentage of voting interests acquired	100.00%
Pioneer additional purchase price			22,900,000
Realized gain on share purchase liability	2,700,000
Business combination consideration transferred	$20,200,000

REDEEMABLE_NONCONTROLLING_INTE1

REDEEMABLE NONCONTROLLING INTERESTS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014	Apr. 28, 2014	2-May-11
Redeemable Noncontrolling Interest
Adjustment to Impo redemption value	$81
Impo Motor Pompa Sanayi ve Ticaret A.S.
Redeemable Noncontrolling Interest
Business combination percentage of voting interests acquired			10.00%	80.00%
Noncontrolling interest, ownership percentage by parent			90.00%
Adjustment to Impo redemption value	$100	$0

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	Apr. 04, 2015	Jan. 03, 2015
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
Asset held for sale	$2,041,000	$2,405,000
Long-term debt	143,189,000	143,695,000
Significant Other Observable Inputs (Level 2)
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
Estimated fair value of long-term debt	259,700,000	191,100,000
Recurring Basis | Estimated Fair Value
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
Cash equivalents	3,100,000	5,400,000
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
Cash equivalents	3,100,000	5,400,000
Recurring Basis | Significant Other Observable Inputs (Level 2)
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Recurring Basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
Cash equivalents	0	0
Debt
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
Long-term Debt	$245,800,000	$177,200,000

FINANCIAL_INSTRUMENTS_Details

FINANCIAL INSTRUMENTS (Details) (Share Swap Transaction Agreement, Not Designated as Hedging Instrument, USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Derivative
Derivative, cancellable written notice term	30 days
Derivative notional amount (in shares)	147,750
Selling, General and Administrative Expenses
Derivative
Loss on derivative	$0.10	$0.20

GOODWILL_AND_OTHER_INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Intangible Assets) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014	Jan. 03, 2015
Intangible Assets
Gross carrying amount, amortized intangibles	$160.20		$163.80
Accumulated amortization	-55.2		-54.2
Gross carrying amount, total intangibles	208.7		214.5
Amortization expense, intangible assets	2.2	2
Future Amortization Expense
2015	8.7
2016	8.7
2017	8.5
2018	8.5
2019	8.2
Patents
Intangible Assets
Gross carrying amount, amortized intangibles	7.5		7.6
Accumulated amortization	-6.1		-6.1
Supply Agreements
Intangible Assets
Gross carrying amount, amortized intangibles	4.4		4.4
Accumulated amortization	-4.4		-4.4
Technology
Intangible Assets
Gross carrying amount, amortized intangibles	7.5		7.5
Accumulated amortization	-4.4		-4.3
Customer Relationships
Intangible Assets
Gross carrying amount, amortized intangibles	137.1		140.2
Accumulated amortization	-37.6		-36.5
Software
Intangible Assets
Gross carrying amount, amortized intangibles	2.7		2.9
Accumulated amortization	-1.7		-1.7
Other
Intangible Assets
Gross carrying amount, amortized intangibles	1		1.2
Accumulated amortization	-1		-1.2
Trade Names
Intangible Assets
Gross carrying amount, unamortized intangibles	$48.50		$50.70

GOODWILL_AND_OTHER_INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Goodwill) (Details) (USD $)	3 Months Ended
	Apr. 04, 2015
Change in the Carrying Amount of Goodwill by Reporting Segment
Goodwill, beginning balance	$208,828,000
Acquisitions	100,000
Foreign currency translation	-4,800,000
Goodwill, ending balance	204,108,000
Water Systems
Change in the Carrying Amount of Goodwill by Reporting Segment
Goodwill, beginning balance	145,300,000
Acquisitions	100,000
Foreign currency translation	-4,600,000
Goodwill, ending balance	140,800,000
Fueling Systems
Change in the Carrying Amount of Goodwill by Reporting Segment
Goodwill, beginning balance	63,500,000
Acquisitions	0
Foreign currency translation	-200,000
Goodwill, ending balance	$63,300,000

EMPLOYEE_BENEFIT_PLANS_Details

EMPLOYEE BENEFIT PLANS (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Net Periodic Benefit Cost
Company contributions	$0.80
Pension Benefits
Net Periodic Benefit Cost
Service cost	0.3	0.3
Interest cost	1.8	2
Expected return on assets	-2.5	-2.6
Amortization of prior service cost	0	0
Amortization of loss	0.8	0.6
Net periodic benefit cost	0.4	0.3
Settlement cost	0.3	0.2
Total net periodic benefit cost	0.7	0.5
Domestic Pension Plans
Net Periodic Benefit Cost and Other Benefit Cost
Number of pension plans (in ones)	2
German Pension Plans
Net Periodic Benefit Cost and Other Benefit Cost
Number of pension plans (in ones)	3
Other Benefits
Net Periodic Benefit Cost
Service cost	0	0
Interest cost	0.1	0.1
Expected return on assets	0	0
Amortization of prior service cost	0.1	0.1
Amortization of loss	0.1	0
Net periodic benefit cost	0.3	0.2
Settlement cost	0	0
Total net periodic benefit cost	$0.30	$0.20

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 04, 2015
Income Tax Contingency [Line Items]
Effective tax rate	35.00%
Pioneer Pump Holdings Inc
Income Tax Contingency [Line Items]
Other tax benefit	7.3
Current income tax benefit	1

DEBT_Details

DEBT (Details) (USD $)	Apr. 04, 2015	Jan. 03, 2015
Debt Instrument
Prudential Agreement - 5.79 percent	$150,000,000	$150,000,000
Tax increment financing debt	23,200,000	23,700,000
Revolver	69,900,000	0
Capital leases	600,000	600,000
Foreign subsidiary debt	2,700,000	3,500,000
Debt and capital lease obligations	246,400,000	177,800,000
Less current maturities	-103,237,000	-34,092,000
Long-term debt	$143,189,000	$143,695,000
Prudential Agreement
Debt Instrument
Prudential Agreement, fixed interest rate	5.79%

DEBT_Debt_Payments_Expected_to

DEBT (Debt Payments Expected to be Paid) (Details) (USD $)	Apr. 04, 2015	Jan. 03, 2015
In Millions, unless otherwise specified
Long-term Debt, by Maturity
Debt and capital lease obligations	$246.40	$177.80
Year 1	103.2
Year 2	31.2
Year 3	31.2
Year 4	31.5
Year 5	31.1
More than 5 years	18.2
Debt
Long-term Debt, by Maturity
Long-term debt	245.8	177.2
Year 1	102.9
Year 2	31.1
Year 3	31.1
Year 4	31.4
Year 5	31.1
More than 5 years	18.2
Capital leases
Long-term Debt, by Maturity
Long-term debt	0.6
Year 1	0.3
Year 2	0.1
Year 3	0.1
Year 4	0.1
Year 5	0
More than 5 years	$0

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Numerator:
Net income attributable to Franklin Electric Co., Inc. (in dollars)	$19,795,000	$16,957,000
Less: Undistributed earnings allocated to participating securities (in dollars)	200,000	300,000
Undistributed earnings allocated to redeemable noncontrolling interest	81,000
Net income attributable to Franklin Electric Co., Inc. excluding undistributed earnings (in dollars)	19,500,000	16,700,000
Basic
Weighted average common shares (in shares)	47.6	47.7
Effect of dilutive securities:
Non-participating employee incentive stock options and performance awards (in shares)	0.5	0.6
Adjusted weighted average common shares (in shares)	48.1	48.3
Basic earnings per share (in dollars per share)	$0.41	$0.35
Diluted earnings per share (in dollars per share)	$0.41	$0.35
Stock Options
Effect of dilutive securities:
Anti-dilutive stock options (in shares)	0.2	0
Impo Motor Pompa Sanayi ve Ticaret A.S.
Numerator:
Undistributed earnings allocated to redeemable noncontrolling interest	$100,000	$0

EQUITY_ROLL_FORWARD_Details

EQUITY ROLL FORWARD (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	$598,983
Net income	19,976	17,421
Equity, ending balance	588,996
Increase (Decrease) in Temporary Equity
Temporary equity, beginning balance	6,420
Net income	31
Adjustment to Impo redemption value	81
Currency translation adjustment	-197
Temporary equity, ending balance	6,335
Common Stock
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	4,759
Common stock issued	5
Common stock repurchased or received for stock options exercised	-6
Share-based compensation	5
Equity, ending balance	4,763
Additional Paid in Capital
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	207,446
Common stock issued	878
Share-based compensation	2,349
Tax benefit of stock options exercised	514
Equity, ending balance	211,187
Retained Earnings
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	492,548
Net income	19,795
Adjustment to Impo redemption value	-81
Dividends on common stock	-4,283
Common stock repurchased or received for stock options exercised	-2,282
Equity, ending balance	505,697
Minimum Pension Liability
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	-56,124
Pension liability, net of tax	654
Equity, ending balance	-55,470
Cumulative Translation Adjustment
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	-51,789
Currency translation adjustment	-27,531
Equity, ending balance	-79,320
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	2,143
Net income	150
Currency translation adjustment	-154
Equity, ending balance	2,139
Total Equity
Increase (Decrease) in Stockholders' Equity
Equity, beginning balance	598,983
Net income	19,945
Adjustment to Impo redemption value	-81
Dividends on common stock	-4,283
Common stock issued	883
Common stock repurchased or received for stock options exercised	-2,288
Share-based compensation	2,354
Tax benefit of stock options exercised	514
Currency translation adjustment	-27,685
Pension liability, net of tax	654
Equity, ending balance	$588,996

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details) (USD $)	3 Months Ended
	Apr. 04, 2015		Mar. 29, 2014
Accumulated Other Comprehensive Income/(Loss)
Beginning balance	($107,913,000)		($54,700,000)
Pre-tax income/(loss)	-27,800,000		2,100,000
Income tax expense	0		0
Other comprehensive income/(loss) before reclassifications, net of income taxes	-27,800,000		2,100,000
Pre-tax income	1,000,000		700,000
Income tax expense	-400,000		-300,000
Amounts reclassified from accumulated other comprehensive income/(loss), net of income taxes	600,000		400,000
Net current period other comprehensive income/(loss), net of income taxes	-27,228,000		2,666,000
Net current period other comprehensive income/(loss), net of income taxes			2,500,000
Other comprehensive income/(loss) attributable to noncontrolling interest	-300,000		-300,000
Ending balance	-134,790,000		-51,900,000
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income/(Loss)
Beginning balance	-51,800,000		-16,000,000
Pre-tax income/(loss)	-27,800,000		2,100,000
Income tax expense	0		0
Other comprehensive income/(loss) before reclassifications, net of income taxes	-27,800,000		2,100,000
Pre-tax income	0		0
Income tax expense	0		0
Amounts reclassified from accumulated other comprehensive income/(loss), net of income taxes	0		0
Net current period other comprehensive income/(loss), net of income taxes	-27,800,000		2,100,000
Other comprehensive income/(loss) attributable to noncontrolling interest	-300,000		-300,000
Ending balance	-79,300,000		-13,600,000
Pension and Postretirement Plan Benefit Adjustments
Accumulated Other Comprehensive Income/(Loss)
Beginning balance	-56,100,000		-38,700,000
Pre-tax income/(loss)	0		0
Income tax expense	0		0
Other comprehensive income/(loss) before reclassifications, net of income taxes	0		0
Pre-tax income	1,000,000	[1]	700,000	[1]
Income tax expense	-400,000		-300,000
Amounts reclassified from accumulated other comprehensive income/(loss), net of income taxes	600,000		400,000
Net current period other comprehensive income/(loss), net of income taxes	600,000		400,000
Other comprehensive income/(loss) attributable to noncontrolling interest	0		0
Ending balance	($55,500,000)		($38,300,000)
[1]	This accumulated other comprehensive income/(loss) component is included in the computation of net periodic pension cost (refer to Note 9 for additional details) and is included in the "Selling, general, and administrative expenses" line of the Company's condensed consolidated statements of income.

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 04, 2015	Mar. 29, 2014	Jan. 03, 2015
Segment Reporting Information
Net sales to external customers	$225,728	$231,421
Operating income (loss)	15,867	25,960
Total assets	1,080,757		1,075,887
Water Systems
Segment Reporting Information
Net sales to external customers	179,200	184,600
Operating income (loss)	19,400	29,200
Total assets	761,600		757,500
Fueling Systems
Segment Reporting Information
Net sales to external customers	46,500	46,800
Operating income (loss)	9,600	9,100
Total assets	251,600		252,700
Other
Segment Reporting Information
Net sales to external customers	0	0
Operating income (loss)	-13,100	-12,300
Total assets	$67,600		$65,700

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended	0 Months Ended
In Millions, unless otherwise specified	Apr. 04, 2015	Jan. 22, 2014
Commitments
Purchase obligations	$12
Product Warranties Disclosures
Standard warranty obligation term (in years)	2 years
Standard installation warranty obligation term (in years)	1 year
Extended warranty obligation term (in years)	5 years
Changes in the Carrying Amount of the Warranty Accrual
Beginning balance	9.4
Accruals related to product warranties	1.4
Reductions for payments made	-2.1
Ending balance	8.7
California Air Resources Board
Loss Contingencies
Amended judgment, amount paid to the Company		$0.10

SHAREBASED_COMPENSATION_Detail

SHARE-BASED COMPENSATION (Details) (USD $)	3 Months Ended
	Apr. 04, 2015	Mar. 29, 2014	4-May-12	Apr. 24, 2009
Fair Value Assumptions
Risk-free interest rate (as a percent)	1.59%	1.68%
Dividend yield (as a percent)	0.95%	0.70%
Volatility factor (as a percent)	37.90%	38.70%
Expected term (in years)	5 years 6 months	5 years 7 months 6 days
Forfeiture rate (as a percent)	3.67%	3.81%
Stock Option Plans Activity and Related Information
Outstanding beginning of period, shares	1,397,000	1,476,000
Outstanding beginning of period, weighted-average exercise price (in dollars per share)	$21.17	$19.01
Granted, shares	184,706	92,946
Granted, weighted-average exercise price (in dollars per share)	$36.67	$43.27
Exercised, shares	-46,000	-34,000
Exercised, weighted-average exercise price (in dollars per share)	$19.36	$18.57
Forfeited, shares	0	-2,000
Forfeited, weighted-average exercise price (in dollars per share)	$0	$26.95
Outstanding end of period, shares	1,536,000	1,533,000
Outstanding end of period, weighted-average exercise price (in dollars per share)	$23.09	$20.48
Expected to vest after applying forfeiture rate, shares	1,511,000	1,511,000
Expected to vest after applying forfeiture rate, weighted-average exercise price (in dollars per share)	$22.86	$20.31
Vested and exercisable end of period, shares	1,124,000	1,070,000
Vested and exercisable end of period, weighted-average exercise price (in dollars per share)	$18.75	$16.34
Summary of Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Outstanding end of period, weighted-average remaining contractual term (in years)	5 years 10 months 13 days
Outstanding end of period, aggregate intrinsic value (in dollars)	$23,421,000
Expected to vest after applying forfeiture rate, weighted-average remaining contractual term (in years)	5 years 9 months 25 days
Expected to vest after applying forfeiture rate, aggregate intrinsic value (in dollars)	23,365,000
Vested and exercisable end of period, weighted-average remaining contractual term (in years)	4 years 9 months 7 days
Vested and exercisable end of period, aggregate intrinsic value (in dollars)	21,781,000
Intrinsic value of options exercised (in dollars)	800,000	800,000
Stock/Stock Unit Award Activity and Related Information
Non-vested at beginning of period, shares	554,000	551,000
Non-vested at beginning of period, weighted-average grant date fair value (in dollars per share)	$32.72	$24.75
Awarded, shares	120,000	172,000
Awarded, weighted-average grant date fair value (in dollars per share)	$36.67	$43.37
Vested, shares	-74,000	-110,000
Vested, weighted-average grant date fair value (in dollars per share)	$25.01	$15.75
Forfeited, shares	0	-56,000
Forfeited, weighted-average grant date fair value (in dollars per share)	$0	$27.81
Non-vested at end of period, shares	600,000	557,000
Non-vested at the end of period, weighted-average grant date fair value (in dollars per share)	$34.47	$31.96
Options
Summary of Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Total unrecognized compensation cost related to nonvested share-based compensation (in dollars)	2,500,000
Total unrecognized compensation cost, recognized over a weighted-average period (in years)	3 years 0 months 10 days
Awards
Summary of Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value
Total unrecognized compensation cost related to nonvested share-based compensation (in dollars)	$11,700,000
Total unrecognized compensation cost, recognized over a weighted-average period (in years)	2 years 8 months 12 days
2012 Stock Plan
Share-based Compensation
Authorized shares			2,400,000
2012 Stock Plan | Options
Share-based Compensation
Authorized shares			1,680,000
2012 Stock Plan | Employee Stock/Stock Unit Award
Share-based Compensation
Authorized shares			720,000
2009 Stock Plan
Share-based Compensation
Authorized shares				4,400,000
2009 Stock Plan | Options
Share-based Compensation
Authorized shares				3,200,000
2009 Stock Plan | Awards
Share-based Compensation
Authorized shares				1,200,000

RESTRUCTURING_Details

RESTRUCTURING (Details) (USD $)	3 Months Ended
	Apr. 04, 2015	Mar. 29, 2014	Jul. 01, 2014
Restructuring Cost and Reserve
Restructuring expense	$463,000	$136,000
Restructuring reserves	6,400,000	0
Employee severance
Restructuring Cost and Reserve
Restructuring expense	200,000
Equipment relocation
Restructuring Cost and Reserve
Restructuring expense	100,000
Other
Restructuring Cost and Reserve
Restructuring expense	200,000
Water Systems
Restructuring Cost and Reserve
Restructuring expense	300,000
Water Systems | Employee severance
Restructuring Cost and Reserve
Restructuring expense	0
Water Systems | Equipment relocation
Restructuring Cost and Reserve
Restructuring expense	100,000
Water Systems | Other
Restructuring Cost and Reserve
Restructuring expense	200,000
Fueling Systems
Restructuring Cost and Reserve
Restructuring expense	200,000
Fueling Systems | Employee severance
Restructuring Cost and Reserve
Restructuring expense	200,000
Fueling Systems | Equipment relocation
Restructuring Cost and Reserve
Restructuring expense	0
Fueling Systems | Other
Restructuring Cost and Reserve
Restructuring expense	0
Other
Restructuring Cost and Reserve
Restructuring expense	0
Other | Employee severance
Restructuring Cost and Reserve
Restructuring expense	0
Other | Equipment relocation
Restructuring Cost and Reserve
Restructuring expense	0
Other | Other
Restructuring Cost and Reserve
Restructuring expense	0
Wittlich Facility Closure
Restructuring Cost and Reserve
Restructuring and related cost			$19,400,000