Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 29, 2013 | Nov. 01, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'INTERFACE INC | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-29 | ' |
Entity Common Stock, Shares Outstanding | ' | 66,286,726 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000715787 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Document Period End Date | 29-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Consolidated_Condensed_Balance
Consolidated Condensed Balance Sheets (Current Period Unaudited) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash and Cash Equivalents | $89,382 | $90,533 |
Accounts Receivable, net | 141,101 | 137,313 |
Inventories | 162,845 | 141,176 |
Prepaid Expenses and Other Current Assets | 30,121 | 51,358 |
Deferred Income Taxes | 9,276 | 10,271 |
TOTAL CURRENT ASSETS | 432,725 | 430,651 |
PROPERTY AND EQUIPMENT, less accumulated depreciation | 194,488 | 165,725 |
DEFERRED TAX ASSET | 56,619 | 62,856 |
GOODWILL | 77,147 | 75,672 |
OTHER ASSETS | 57,410 | 54,463 |
TOTAL ASSETS | 818,389 | 789,367 |
CURRENT LIABILITIES: | ' | ' |
Accounts Payable | 54,196 | 56,292 |
Accrued Expenses | 105,176 | 97,424 |
Current Portion of Long Term Debt | 8,140 | 8,110 |
TOTAL CURRENT LIABILITIES | 167,512 | 161,826 |
SENIOR NOTES | 275,000 | 275,000 |
DEFERRED INCOME TAXES | 7,748 | 7,339 |
OTHER | 44,960 | 49,500 |
TOTAL LIABILITIES | 495,220 | 493,665 |
SHAREHOLDERS’ EQUITY: | ' | ' |
Preferred Stock | 0 | 0 |
Common Stock | 6,627 | 6,606 |
Additional Paid-In Capital | 371,757 | 366,677 |
Retained Earnings (Deficit) | 10,879 | -16,746 |
Accumulated Other Comprehensive Loss – Foreign Currency Translation Adjustment | -30,766 | -25,344 |
Accumulated Other Comprehensive Loss – Pension Liability | -35,328 | -35,491 |
TOTAL SHAREHOLDERS’ EQUITY | 323,169 | 295,702 |
$818,389 | $789,367 |
Consolidated_Condensed_Stateme
Consolidated Condensed Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
NET SALES | $254,448 | $242,863 | $708,300 | $682,425 |
Cost of Sales | 162,695 | 160,002 | 459,062 | 450,344 |
GROSS PROFIT ON SALES | 91,753 | 82,861 | 249,238 | 232,081 |
Selling, General and Administrative Expenses | 63,918 | 58,014 | 185,606 | 168,134 |
Restructuring and Asset Impairment Charge | 0 | 770 | 0 | 17,086 |
Losses Related to Australia Fire | 0 | 980 | 0 | 980 |
OPERATING INCOME | 27,835 | 23,097 | 63,632 | 45,881 |
Interest Expense | 6,303 | 6,330 | 18,368 | 19,132 |
Other Expense | 114 | 136 | 519 | 824 |
INCOME BEFORE INCOME TAX EXPENSE | 21,418 | 16,631 | 44,745 | 25,925 |
Income Tax Expense | 6,461 | 5,564 | 11,826 | 10,418 |
Income from Continuing Operations | 14,957 | 11,067 | 32,919 | 15,507 |
Income (Loss) from Discontinued Operations, Net of Tax | 0 | -16,840 | 0 | -16,956 |
NET INCOME (LOSS) | $14,957 | ($5,773) | $32,919 | ($1,449) |
Earnings (Loss) Per Share – Basic | ' | ' | ' | ' |
Continuing Operations (in Dollars per share) | $0.23 | $0.17 | $0.50 | $0.24 |
Discontinued Operations (in Dollars per share) | $0 | ($0.26) | $0 | ($0.26) |
Earnings (Loss) Per Share – Basic (in Dollars per share) | $0.23 | ($0.09) | $0.50 | ($0.02) |
Earnings (Loss) Per Share – Diluted | ' | ' | ' | ' |
Continuing Operations (in Dollars per share) | $0.23 | $0.17 | $0.50 | $0.24 |
Discontinued Operations (in Dollars per share) | $0 | ($0.26) | $0 | ($0.26) |
Earnings (Loss) Per Share – Diluted (in Dollars per share) | $0.23 | ($0.09) | $0.50 | ($0.02) |
Common Shares Outstanding – Basic (in Shares) | 66,183 | 65,957 | 66,160 | 65,703 |
Common Shares Outstanding – Diluted (in Shares) | 66,317 | 66,129 | 66,289 | 65,802 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Net Income (Loss) | $14,957 | ($5,773) | $32,919 | ($1,449) |
Other Comprehensive Income (Loss), Foreign | ' | ' | ' | ' |
Currency Translation Adjustment | 7,503 | 9,411 | -5,422 | 4,549 |
Other Comprehensive Income (Loss), Pension Liability Adjustment | -1,404 | -1,240 | 163 | -1,274 |
Comprehensive Income | $21,056 | $2,398 | $27,660 | $1,826 |
Consolidated_Condensed_Stateme1
Consolidated Condensed Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES: | ' | ' |
Net Income (Loss) | $32,919 | ($1,449) |
Income (Loss) from Discontinued Operations, Net of Tax | 0 | -16,956 |
Income from Continuing Operations | 32,919 | 15,507 |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by Operating Activities: | ' | ' |
Depreciation and Amortization | 18,625 | 19,173 |
Stock Compensation Amortization Expense | 5,071 | 3,193 |
Deferred Income Taxes and Other | 5,032 | -9,975 |
Cash Received from Insurance Company | 10,648 | 0 |
Working Capital Changes: | ' | ' |
Accounts Receivable | -4,220 | 29,633 |
Inventories | -22,842 | -6,737 |
Prepaid Expenses and Other Current Assets | -14,481 | -7,544 |
Accounts Payable and Accrued Expenses | -3,513 | 654 |
CASH PROVIDED BY OPERATING ACTIVITIES: | 27,239 | 43,904 |
INVESTING ACTIVITIES: | ' | ' |
Capital Expenditures | -47,939 | -28,817 |
Net Proceeds from Sale of Bentley Prince Street | 0 | 32,174 |
Cash Received from Insurance Company | 23,024 | 10,000 |
Other | 1,875 | -1,527 |
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES: | -23,040 | 11,830 |
FINANCING ACTIVITIES: | ' | ' |
Repurchase of Senior Subordinated Notes | 0 | -11,477 |
Proceeds from Issuance of Common Stock | 1,163 | 293 |
Dividends Paid | -5,294 | -4,276 |
CASH USED IN FINANCING ACTIVITIES: | -4,131 | -15,460 |
Net Cash Provided By Operating, Investing and Financing Activities | 68 | 40,274 |
Effect of Exchange Rate Changes on Cash | -1,219 | 753 |
CASH AND CASH EQUIVALENTS: | ' | ' |
Net Change During the Period | -1,151 | 41,027 |
Balance at Beginning of Period | 90,533 | 50,624 |
Balance at End of Period | $89,382 | $91,651 |
Note_1_Condensed_Footnotes
Note 1 - Condensed Footnotes | 9 Months Ended |
Sep. 29, 2013 | |
Condensed Footnotes [Abstract] | ' |
Condensed Footnotes [Text Block] | ' |
NOTE 1 – CONDENSED FOOTNOTES | |
As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10-Q, the following footnotes have been condensed and, therefore, do not contain all disclosures required in connection with annual financial statements. Reference should be made to the Company’s year-end audited consolidated financial statements and notes thereto contained in its Annual Report on Form 10-K for the fiscal year ended December 30, 2012, as filed with the Commission. | |
The financial information included in this report has been prepared by the Company, without audit. In the opinion of management, the financial information included in this report contains all adjustments (all of which are normal and recurring) necessary for a fair presentation of the results for the interim periods. Nevertheless, the results shown for interim periods are not necessarily indicative of results to be expected for the full year. The December 30, 2012 consolidated condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States. | |
As described below in Note 10, the Company has sold its Bentley Prince Street business segment. The results of operations and related disposal costs, gains and losses for this business are classified as discontinued operations, where applicable. | |
Certain prior period amounts have been reclassified to conform to the current period presentation. |
Note_2_Inventories
Note 2 - Inventories | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
NOTE 2 – INVENTORIES | |||||||||
Inventories are summarized as follows: | |||||||||
Sept. 29, 2013 | 30-Dec-12 | ||||||||
(In thousands) | |||||||||
Finished Goods | $ | 104,968 | $ | 87,094 | |||||
Work in Process | 10,513 | 7,030 | |||||||
Raw Materials | 47,364 | 47,052 | |||||||
$ | 162,845 | $ | 141,176 | ||||||
Note_3_Earnings_Per_Share
Note 3 - Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
NOTE 3 – EARNINGS PER SHARE | |||||||||||||||||
The Company computes basic earnings per share (“EPS”) by dividing net income by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings. | |||||||||||||||||
The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were not distributed. The following tables show distributed and undistributed earnings: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
Earnings Per Share | |||||||||||||||||
Basic Earnings Per Share from Continuing Operations: | |||||||||||||||||
Distributed Earnings | $ | 0.03 | $ | 0.03 | $ | 0.08 | $ | 0.07 | |||||||||
Undistributed Earnings | 0.2 | 0.14 | 0.42 | 0.17 | |||||||||||||
Total | $ | 0.23 | $ | 0.17 | $ | 0.5 | $ | 0.24 | |||||||||
Diluted Earnings Per Share from Continuing Operations: | |||||||||||||||||
Distributed Earnings | $ | 0.03 | $ | 0.03 | $ | 0.08 | $ | 0.07 | |||||||||
Undistributed Earnings | 0.2 | 0.14 | 0.42 | 0.17 | |||||||||||||
Total | $ | 0.23 | $ | 0.17 | $ | 0.5 | $ | 0.24 | |||||||||
Earnings (Loss) Per Share | |||||||||||||||||
Continuing Operations | $ | 0.23 | $ | 0.17 | $ | 0.5 | $ | 0.24 | |||||||||
Discontinued Operations | 0 | (0.26 | ) | 0 | (0.26 | ) | |||||||||||
Earnings (Loss) Per Share | $ | 0.23 | $ | (0.09 | ) | $ | 0.5 | $ | (0.02 | ) | |||||||
The following tables present net income (loss) that was attributable to participating securities: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In millions) | |||||||||||||||||
Net Income (Loss) | $ | 0.4 | $ | (0.2 | ) | $ | 0.9 | $ | (0.1 | ) | |||||||
The weighted average shares outstanding for basic and diluted EPS were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Weighted Average Shares Outstanding | 64,446 | 63,983 | 64,423 | 63,729 | |||||||||||||
Participating Securities | 1,737 | 1,974 | 1,737 | 1,974 | |||||||||||||
Shares for Basic Earnings Per Share | 66,183 | 65,957 | 66,160 | 65,703 | |||||||||||||
Dilutive Effect of Stock Options | 134 | 172 | 129 | 99 | |||||||||||||
Shares for Diluted Earnings Per Share | 66,317 | 66,129 | 66,289 | 65,802 | |||||||||||||
The following chart depicts options to purchase shares of common stock that were excluded from the calculation of diluted EPS as their inclusion would be anti-dilutive: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Shares Excluded | 0 | 83 | 0 | 264 | |||||||||||||
Note_4_Segment_Information
Note 4 - Segment Information | 9 Months Ended |
Sep. 29, 2013 | |
Segment Reporting [Abstract] | ' |
Segment Reporting Disclosure [Text Block] | ' |
NOTE 4 – SEGMENT INFORMATION | |
Based on applicable accounting standards, the Company has determined that it has three operating segments – namely, the Americas, Europe and Asia-Pacific geographic regions. Pursuant to accounting standards, the Company has aggregated the three operating segments into one reporting segment because they have similar economic characteristics, and the operating segments are similar in all of the following areas: (a) the nature of the products and services; (b) the nature of the production processes; (c) the type or class of customer for their products and services; (d) the methods used to distribute their products or provide their services; and (e) the nature of the regulatory environment. In August 2012, the Company sold its Bentley Prince Street business segment (see note 10 for further information). Accordingly the Company has included the operations of the former Bentley Prince Street segment in discontinued operations, where applicable. |
Note_5_Longterm_Debt
Note 5 - Long-term Debt | 9 Months Ended | ||
Sep. 29, 2013 | |||
Disclosure Text Block [Abstract] | ' | ||
Long-term Debt [Text Block] | ' | ||
NOTE 5 – LONG-TERM DEBT | |||
7.625% Senior Notes | |||
As of both September 29, 2013, and September 30, 2012, the Company had outstanding $275 million in 7.625% Senior Notes due 2018 (the “7.625% Senior Notes”). The estimated fair value of the 7.625% Senior Notes as of September 29, 2013, and September 30, 2012, based on then current market prices, was $298.4 million and $299.8 million, respectively. | |||
On October 10, 2013, subsequent to the end of the third quarter, the Company elected to redeem $27.5 million in aggregate principal amount outstanding of these notes at a price equal to 103% of the principal amount of the notes redeemed, plus accrued interest to the redemption date. The redemption date will be November 27, 2013. | |||
11.375% Senior Secured Notes | |||
As of both September 29, 2013, and September 30, 2012, the Company had outstanding $8.1 million in 11.375% Senior Secured Notes due 2013 (the “11.375% Senior Secured Notes”). The estimated fair value of the 11.375% Senior Secured Notes as of both September 29, 2013, and September 30, 2012, based on then current market prices, was $8.1 million. Subsequent to the end of the third quarter, the Company repaid these remaining notes in full at maturity. | |||
Credit Facilities | |||
On October 22, 2013, the Company entered into a new Syndicated Facility Agreement among the Company, certain wholly-owned foreign subsidiaries of the Company as borrowers, certain subsidiaries of the Company as guarantors, Bank of America, N.A. as Administrative Agent, The Royal Bank of Scotland, as Syndication Agent, SunTrust Bank and Regions Bank, as Co-Documentation Agents, and the other lenders party thereto. Pursuant to the Syndicated Facility Agreement, the lenders provide to the Company and certain of its subsidiaries a multicurrency revolving credit facility (the “Facility”) of up to $200 million at any one time. The key features of the Facility are as follows: | |||
● | The Facility matures on October 22, 2018. | ||
● | The Facility includes (i) a multicurrency revolving loan facility made available to the Company and its principal subsidiaries in Europe and Australia not to exceed $190 million in the aggregate at any one time outstanding, and (ii) a revolving loan facility made available to the Company’s principal subsidiary in Thailand not to exceed the equivalent of $10 million in the aggregate at any one time outstanding. A sublimit of $40 million exists for the issuance of letters of credit under the Facility. | ||
● | Advances under the Facility are secured by a first-priority lien on substantially all of the Company’s assets and the assets of each of its material domestic subsidiaries, which have guaranteed the Facility. | ||
● | The Facility contains financial covenants (specifically, a consolidated net leverage ratio and a consolidated interest coverage ratio) that must be met as of the end of each fiscal quarter. | ||
● | The Company has the option to increase the multicurrency loan facility by up to $150 million (or $250 million if the proceeds of the increase are used to pay off all remaining 7.625% Senior Notes), subject to the receipt of lender commitments for the increase and the satisfaction of certain other conditions. | ||
Interest Rates and Fees. Interest on base rate loans is charged at varying rates computed by applying a margin ranging from 0.25% to 1.50% over the applicable base interest rate (which is defined as the greatest of the prime rate, a specified federal funds rate plus 0.50%, or a specified LIBOR rate), depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on LIBOR-based loans and fees for letters of credit are charged at varying rates computed by applying a margin ranging from 1.25% to 2.50% over the applicable LIBOR rate. In addition, the Company pays a commitment fee ranging from 0.20% to 0.35% per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility. | |||
9 | |||
Covenants. The Facility contains standard and customary covenants for agreements of this type that, among other things, limit the Company’s and its subsidiaries’ ability to: | |||
● | create or incur liens on assets; | ||
● | make acquisitions of or investments in businesses (in excess of certain specified amounts); | ||
● | incur indebtedness or contingent obligations; | ||
● | sell or dispose of assets (in excess of certain specified amounts); | ||
● | pay dividends or repurchase the Company’s stock (in excess of certain specified amounts); | ||
● | repay other indebtedness prior to maturity unless the Company meets certain conditions; and | ||
● | enter into sale and leaseback transactions. | ||
The Facility also requires the Company to remain in compliance with the following financial covenants as of the end of each fiscal quarter, based on the Company’s consolidated results for the year then ended: | |||
● | Consolidated Net Leverage Ratio: Must be no greater than (i) 4.50:1.00 through and including the fiscal quarter ending December 28, 2014, (ii) 4.00:1.00 from and including the fiscal quarter ending April 5, 2015 through and including the fiscal quarter ending January 3, 2016, and (iii) 3.75:1.00 for each fiscal quarter thereafter. | ||
● | Consolidated Interest Coverage Ratio: Must be no less than 2.25:1.00 as of the end of any fiscal quarter. | ||
The revolving credit facility also includes various reporting, affirmative and negative covenants, and other provisions that restrict the Company’s and its subsidiaries’ ability to take certain actions. | |||
Events of Default. If the Company breaches or fails to perform any of the affirmative or negative covenants under the Facility, or if other specified events occur (such as a bankruptcy or similar event or a change of control of Interface, Inc. or certain subsidiaries, or if the Company breaches or fails to perform any covenant or agreement contained in any instrument relating to any of the Company’s other indebtedness exceeding $20 million), after giving effect to any applicable notice and right to cure provisions, an event of default will exist. If an event of default exists and is continuing, the lenders’ Administrative Agent may, and upon the written request of a specified percentage of the lender group shall: | |||
● | declare all commitments of the lenders under the facility terminated; | ||
● | declare all amounts outstanding or accrued thereunder immediately due and payable; and | ||
● | exercise other rights and remedies available to them under the agreement and applicable law. | ||
Collateral. Pursuant to a Security and Pledge Agreement executed on the same date, the Facility is secured by substantially all of the assets of the Company and its domestic subsidiaries (subject to exceptions for certain immaterial subsidiaries), including all of the stock of the Company’s domestic subsidiaries and up to 65% of the stock of its first-tier material foreign subsidiaries. If an event of default occurs under the Facility, the lenders’ Administrative Agent may, upon the request of a specified percentage of lenders, exercise remedies with respect to the collateral, including, in some instances, foreclosing mortgages on real estate assets, taking possession of or selling personal property assets, collecting accounts receivables, or exercising proxies to take control of the pledged stock of domestic and first-tier material foreign subsidiaries. | |||
In connection with the execution of the Syndicated Facility Agreement, the Company terminated (i) the Seventh Amended and Restated Credit Agreement, dated as of June 24, 2011, among the Company (and certain direct and indirect subsidiaries), the lenders listed therein, Wells Fargo Bank, National Association and Bank of America, N.A., which provided a $100 million domestic revolving credit facility; and (ii) the Credit Agreement, executed on April 24, 2009, among Interface Europe B.V. (and certain of its subsidiaries) and the Royal Bank of Scotland N.V. (as successor to ABN AMRO Bank N.V.), as amended, which provided a credit facility for borrowings and bank guarantees of up to €20.0 million. As of September 29, 2013, there were zero borrowings and $3.6 million in letters of credit outstanding under the then-existing domestic revolving credit facility, and the Company could have incurred $71.4 million of additional borrowings under that facility. As of September 29, 2013, there were zero borrowings under the then-existing European credit facility, and the Company could have incurred €20 million (approximately $27.1 million) of additional borrowings under that facility. | |||
At closing, the Company had no borrowings outstanding under the Facility, and had $7.6 million in letters of credit outstanding under the Facility. | |||
Other non-U.S. subsidiaries of the Company have an aggregate of the equivalent of $17.9 million of lines of credit available. As of September 29, 2013, there were no borrowings outstanding under these lines of credit. |
Note_6_Stockbased_Compensation
Note 6 - Stock-based Compensation | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||
NOTE 6 – STOCK-BASED COMPENSATION | |||||||||
Stock Option Awards | |||||||||
In accordance with accounting standards, the Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost will be recognized over the period in which the employee is required to provide the services – the requisite service period (usually the vesting period) – in exchange for the award. The grant date fair value for options and similar instruments will be estimated using option pricing models. Under accounting standards, the Company is required to select a valuation technique or option pricing model that meets the criteria stated in the standard. The Company uses the Black-Scholes model. Accounting standards require that the Company estimate forfeitures for stock options and reduce compensation expense accordingly. The Company has reduced its stock compensation expense by the assumed forfeiture rate and will evaluate experience against this forfeiture rate going forward. | |||||||||
During the first nine months of 2013 and 2012, the Company recognized stock option compensation costs of $0.1 million and $0.5 million, respectively. In the third quarters of 2013 and 2012, the Company recognized stock option compensation costs of $0.1 million and $0.1 million, respectively. The remaining unrecognized compensation cost related to unvested stock option awards at September 29, 2013, approximated $0.1 million, and the weighted average period of time over which this cost will be recognized is approximately one year. | |||||||||
The following table summarizes stock options outstanding as of September 29, 2013, as well as activity during the nine months then ended: | |||||||||
Shares | Weighted Average | ||||||||
Exercise Price | |||||||||
Outstanding at December 30, 2012 | 393,500 | $ | 9.12 | ||||||
Granted | 0 | 0 | |||||||
Exercised | 129,000 | 8.65 | |||||||
Forfeited or canceled | 8,500 | 2.71 | |||||||
Outstanding at September 29, 2013 | 256,000 | $ | 8.64 | ||||||
Exercisable at September 29, 2013 | 251,000 | $ | 8.56 | ||||||
At September 29, 2013, the aggregate intrinsic value of in-the-money options outstanding and options exercisable was $2.8 million and $2.8 million, respectively (the intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option). | |||||||||
Cash proceeds and intrinsic value related to total stock options exercised during the first nine months of fiscal years 2013 and 2012 are provided in the table below. The Company did not recognize any significant tax benefit with regard to stock options in either period presented. | |||||||||
Nine Months Ended | |||||||||
Sept. 29, 2013 | Sept. 30, 2012 | ||||||||
(In millions) | |||||||||
Proceeds from stock options exercised | $ | 1.2 | $ | 0.3 | |||||
Intrinsic value of stock options exercised | 1.2 | 0.3 | |||||||
Restricted Stock Awards | |||||||||
During the nine months ended September 29, 2013, and September 30, 2012, the Company granted restricted stock awards for 670,000 and 573,500 shares, respectively, of common stock. These awards (or a portion thereof) vest with respect to each recipient over a two to five year period from the date of grant, provided the individual remains in the employment or service of the Company as of the vesting date. Additionally, awards (or a portion thereof) could vest earlier upon the attainment of certain performance criteria, in the event of a change in control of the Company, or upon involuntary termination without cause. | |||||||||
Compensation expense related to restricted stock grants was $5.0 million and $3.2 million for the nine months ended September 29, 2013, and September 30, 2012, respectively. Accounting standards require that the Company estimate forfeitures for restricted stock and reduce compensation expense accordingly. The Company has reduced its expense by the assumed forfeiture rate and will evaluate experience against this forfeiture rate going forward. | |||||||||
The following table summarizes restricted stock activity as of September 29, 2013, and during the nine months then ended: | |||||||||
Shares | Weighted Average | ||||||||
Grant Date | |||||||||
Fair Value | |||||||||
Outstanding at December 30, 2012 | 1,973,500 | $ | 14.79 | ||||||
Granted | 670,000 | 16.23 | |||||||
Vested | 405,000 | 14.65 | |||||||
Forfeited or canceled | 501,500 | 14.05 | |||||||
Outstanding at September 29, 2013 | 1,737,000 | $ | 15.57 | ||||||
As of September 29, 2013, the unrecognized total compensation cost related to unvested restricted stock was approximately $13.7 million. That cost is expected to be recognized by the end of 2015. | |||||||||
For the nine months ended September 29, 2013, and September 30, 2012, the Company recognized tax benefits with regard to restricted stock of $2.0 million and $0.5 million, respectively. |
Note_7_Employee_Benefit_Plans
Note 7 - Employee Benefit Plans | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 7 – EMPLOYEE BENEFIT PLANS | |||||||||||||||||
The following tables provide the components of net periodic benefit cost for the three-month and nine-month periods ended September 29, 2013, and September 30, 2012, respectively: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
Defined Benefit Retirement Plan (Europe) | (In thousands) | (In thousands) | |||||||||||||||
Service cost | $ | 212 | $ | 110 | $ | 632 | $ | 339 | |||||||||
Interest cost | 2,391 | 2,525 | 7,147 | 7,611 | |||||||||||||
Expected return on assets | (2,488 | ) | (2,797 | ) | (7,438 | ) | (8,435 | ) | |||||||||
Amortization of prior service costs | 22 | 12 | 66 | 38 | |||||||||||||
Recognized net actuarial losses | 243 | 230 | 727 | 690 | |||||||||||||
Net periodic benefit cost | $ | 380 | $ | 80 | $ | 1,134 | $ | 243 | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
Salary Continuation Plan (SCP) | (In thousands) | (In thousands) | |||||||||||||||
Service cost | $ | 134 | $ | 113 | $ | 401 | $ | 339 | |||||||||
Interest cost | 249 | 254 | 748 | 761 | |||||||||||||
Amortization of prior service cost | 12 | 12 | 36 | 36 | |||||||||||||
Amortization of loss | 110 | 67 | 331 | 201 | |||||||||||||
Net periodic benefit cost | $ | 505 | $ | 446 | $ | 1,516 | $ | 1,337 | |||||||||
Note_8_2012_Restructuring_Char
Note 8 - 2012 Restructuring Charges | 9 Months Ended | ||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||
2012 [Member] | ' | ||||||||||||||||||||
Note 8 - 2012 Restructuring Charges [Line Items] | ' | ||||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||||||
NOTE 8 – 2012 RESTRUCTURING CHARGES | |||||||||||||||||||||
In the first quarter of 2012, the Company committed to a restructuring plan in its continuing efforts to reduce costs across its worldwide operations and more closely align its operations with reduced demand levels in certain markets. The plan primarily consisted of ceasing manufacturing and warehousing operations at its facility in Shelf, England. In connection with this restructuring plan, the Company incurred a pre-tax restructuring and asset impairment charge in the first quarter of 2012 in an amount of $16.3 million. The charge was comprised of employee severance expenses of $5.4 million, other related exit costs of $1.6 million, and a charge for impairment of assets of approximately $9.3 million. Approximately $7 million of the charge will result in cash expenditures, primarily severance expense. In the third and fourth quarters of 2012, the Company recorded additional charges of $0.8 million and $2.3 million, respectively, of cash severance expenses related to the finalization of this plan for its European operations. As a result of these restructuring charges, a reduction of approximately 145 employees occurred. | |||||||||||||||||||||
A summary of these restructuring activities is presented below: | |||||||||||||||||||||
Total | Costs Incurred | Costs Incurred | Balance at | ||||||||||||||||||
Restructuring | in 2012 | in 2013 | Sept. 29, 2013 | ||||||||||||||||||
Charge | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Workforce Reduction | $ | 8,465 | $ | 5,205 | $ | 3,134 | $ | 126 | |||||||||||||
Fixed Asset Impairment | 9,364 | 9,364 | 0 | 0 | |||||||||||||||||
Other Related Exit Costs | 1,596 | 1,034 | 198 | 364 | |||||||||||||||||
2011 [Member] | ' | ||||||||||||||||||||
Note 8 - 2012 Restructuring Charges [Line Items] | ' | ||||||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||||||
NOTE 9 – 2011 RESTRUCTURING CHARGE | |||||||||||||||||||||
In the fourth quarter of 2011, the Company committed to a restructuring plan intended to reduce costs across its worldwide operations and more closely align its operations with reduced demand in certain markets. As a result of this plan, the Company incurred pre-tax restructuring and asset impairment charges of $5.8 million in the fourth quarter of 2011. The majority of this charge ($5.0 million) related to the severance of approximately 90 employees in Europe, Asia and the United States. The remainder of the charge ($0.8 million) related to contract termination and fixed asset impairment costs. Approximately $5.0 million of this charge will result in cash expenditures, primarily severance expenses. Actions and expenses related to this plan were substantially completed by the end of 2011. | |||||||||||||||||||||
A summary of these restructuring activities is presented below: | |||||||||||||||||||||
Restructuring | Costs Incurred | Costs Incurred | Costs Incurred | Balance at | |||||||||||||||||
Charge | in 2011 | in 2012 | in 2013 | Sept. 29, 2013 | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
Workforce Reduction | $ | 4,979 | $ | 867 | $ | 3,450 | $ | 133 | $ | 529 | |||||||||||
Fixed Asset Impairment | 776 | 776 | 0 | 0 | 0 | ||||||||||||||||
Note_10_Discontinued_Operation
Note 10 - Discontinued Operations | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | ' | ||||||||||||||||
NOTE 10 – DISCONTINUED OPERATIONS | |||||||||||||||||
In July of 2012, the Company entered into an agreement to sell its Bentley Prince Street business segment to a third party. The sale was completed in the third quarter of 2012. The purchase price for the business segment was $33.7 million, after working capital and certain other adjustments. The major classes of assets and liabilities related to the business segment at disposition were accounts receivable of $10.1 million, inventory of $29.0 million, property, plant and equipment of $11.8 million, and accounts payable and accruals of $7.6 million. | |||||||||||||||||
Loss from discontinued operations, net of tax, for the third quarter of 2012 was comprised of the following after-tax amounts: (1) $8.6 million of loss on disposal; (2) $5.9 million of costs to sell the operations; and (3) $2.3 million of non-disposal loss from the discontinued operations. | |||||||||||||||||
Loss from discontinued operations, net of tax, for the nine months ended September 30, 2012 was comprised of the following after-tax amounts: (1) $8.6 million of loss on disposal; (2) $5.9 million of costs to sell the operations; and (3) $2.5 million of non-disposal loss from the discontinued operations. | |||||||||||||||||
Summary operating results for the above-described discontinued operations were as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||
Net sales | $ | 0 | $ | 9,210 | $ | 0 | $ | 57,017 | |||||||||
Income (loss) on operations before taxes on income | 0 | (25,875 | ) | 0 | (26,062 | ) | |||||||||||
Tax expense (benefit) | 0 | (9,035 | ) | 0 | (9,106 | ) | |||||||||||
Income (loss) on operations, net of tax | 0 | (16,840 | ) | 0 | (16,956 | ) | |||||||||||
As of September 29, 2013 and December 30, 2012, there were no assets or liabilities related to the above-described discontinued operations that were held for sale. |
Note_11_Supplemental_Cash_Flow
Note 11 - Supplemental Cash Flow Information | 9 Months Ended |
Sep. 29, 2013 | |
Supplemental Cash Flow Elements [Abstract] | ' |
Cash Flow, Supplemental Disclosures [Text Block] | ' |
NOTE 11 – SUPPLEMENTAL CASH FLOW INFORMATION | |
Cash payments for interest amounted to $11.6 million and $12.8 million for the nine months ended September 29, 2013, and September 30, 2012, respectively. Income tax payments amounted to $7.1 million and $9.1 million for the nine months ended September 29, 2013, and September 30, 2012, respectively. |
Note_12_Recently_Issued_Accoun
Note 12 - Recently Issued Accounting Pronouncements | 9 Months Ended |
Sep. 29, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
NOTE 12 – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued an accounting standard regarding the presentation of unrecognized tax benefits when a net operating loss carryforward, or similar tax credit carryforward, exists. This standard clarifies that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, if such settlement is required or expected in the event the uncertain tax benefit is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be netted with the deferred tax asset. The amendments in this standard are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The Company is currently evaluating the impact that adoption of this standard will have on the determination or reporting of its financial results. |
Note_13_Income_Taxes
Note 13 - Income Taxes | 9 Months Ended |
Sep. 29, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
NOTE 13 – INCOME TAXES | |
In the first quarter of 2013, the Company executed advance pricing agreements for tax years 2006 through 2011 with the Canada Revenue Agency and the U.S. Internal Revenue Service in relation to the U.S. bilateral advanced pricing agreement filed in 2008. As a result of executing the advance pricing agreements, the Company was able to reduce its liability for unrecognized tax benefits in the first quarter of 2013 by $1.9 million. This benefit has been included in the “Income Tax Expense (Benefit)” line of the Company’s consolidated condensed statement of operations for the nine months ended September 29, 2013. | |
Accounting standards require that all tax positions be analyzed using a two-step approach. The first step requires an entity to determine if a tax position is more-likely-than-not to be sustained upon examination. In the second step, the tax benefit is measured as the largest amount of benefit, determined on a cumulative probability basis, that is more-likely-than-not to be realized upon ultimate settlement. In the first nine months of 2013, due largely to the resolution of the bilateral advanced pricing agreement discussed above, the Company decreased its liability for unrecognized tax benefits by $1.9 million. As of September 29, 2013, the Company had accrued approximately $23.3 million for unrecognized tax benefits. |
Note_14_Fire_at_Australian_Man
Note 14 - Fire at Australian Manufacturing Facility | 9 Months Ended | ||||
Sep. 29, 2013 | |||||
Fire At Manufacturing Facility [Abstract] | ' | ||||
Fire At Manufacturing Facility [Text Block] | ' | ||||
NOTE 14 – FIRE AT AUSTRALIAN MANUFACTURING FACILITY | |||||
On July 20, 2012, a fire occurred at the Company’s manufacturing facility in Picton, Australia. The facility’s carpet production line, primarily comprised of tufting and backing machinery, sustained extensive damage and was rendered inoperable. The Picton facility served the Company’s customers throughout Australia and New Zealand. Since the fire, the Company has utilized adequate production capacity at its manufacturing facilities in Thailand, China and elsewhere to meet customer demand typically serviced from Picton. The Company has business interruption and property damage insurance. The Company is in the process of building a new manufacturing facility in Minto, Australia and expects it to become operational in January 2014. | |||||
Since the fire, the Company has recorded charges of approximately $25.0 million ($2.6 million in 2013) for impairment of fixed assets related to the fire, and has incurred approximately $31.8 million of excess production costs related to the fire, as it has utilized other facilities to service customers in the Australia and New Zealand markets. As of September 29, 2013, the Company has determined that the receipt of reimbursement of these expenses from its insurer is probable in accordance with its insurance policies and has therefore recorded a receivable for these items. As of September 29, 2013, the Company had received $54.9 million of reimbursement from the insurance company related to the fire at the Picton facility. The table below details the nature of expenses as well as insurance receivables and amounts already received related to the fire: | |||||
(In millions) | |||||
Impairment of fixed assets at the Picton facility | $ | 25 | |||
Incremental payroll costs | 17.9 | ||||
Incremental shipping costs | 7.6 | ||||
Other incremental costs | 6.3 | ||||
Total incurred costs through September 29, 2013 | $ | 56.8 | |||
Insurance recovery receivable | $ | 1.9 | |||
Insurance recoveries already received | $ | 54.9 | |||
The receivable related to this claim is included in prepaid expenses and other current assets in our consolidated condensed balance sheet. | |||||
The Company also has made an additional claim for loss of profits related to the fire. The amount of this claim is approximately $7.0 million and relates to loss of profits from the date of the fire through the second quarter of 2013. The Company continues to gather information related to additional insurance claims for loss of profits as a result of the fire. As of September 29, 2013, the Company had not recorded any receivables or amounts for loss of profits, but expects to do so at a later date as information and analysis become more complete and recovery becomes probable. |
Note_15_Items_Reclassified_fro
Note 15 - Items Reclassified from Other Comprehensive Income | 9 Months Ended |
Sep. 29, 2013 | |
Partners' Capital, Comprehensive Income [Abstract] | ' |
Disclosure of Reclassification Amount [Text Block] | ' |
NOTE 15 – ITEMS RECLASSIFIED FROM OTHER COMPREHENSIVE INCOME | |
During the first nine months of 2013, the Company did not reclassify any significant amounts out of accumulated other comprehensive income. The reclassifications that occurred in that period were primarily comprised of $1.1 million related to the Company’s defined retirement benefit plan and salary continuation plan. These reclassifications were included in the selling, general and administrative expenses line item of the Company’s consolidated condensed statement of operations. |
Note_16_Supplemental_Condensed
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements | 9 Months Ended | ||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||
Supplemental Guarantor Financial Statements [Abstract] | ' | ||||||||||||||||||||
Supplemental Guarantor Financial Statements [Text Block] | ' | ||||||||||||||||||||
NOTE 16 – SUPPLEMENTAL CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS | |||||||||||||||||||||
The Guarantor Subsidiaries, which consist of the Company’s principal domestic subsidiaries, are guarantors of the Company’s 11.375% Senior Secured Notes due 2013 and its 7.625% Senior Notes due 2018. These guarantees are full and unconditional. The Supplemental Guarantor Financial Statements are presented herein pursuant to requirements of the Commission. The Guarantor Subsidiaries are 100% owned by the Company. | |||||||||||||||||||||
INTERFACE, INC. AND SUBSIDIARIES | |||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||
FOR THE THREE MONTHS ENDED SEPTEMBER 29, 2013 | |||||||||||||||||||||
GUARANTOR | NON- | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | (PARENT | AND ELIMINATION | TOTALS | |||||||||||||||||
SUBSIDIARIES | CORPORATION) | ENTRIES | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net sales | $ | 174,237 | $ | 122,538 | $ | 0 | $ | (42,327 | ) | $ | 254,448 | ||||||||||
Cost of sales | 125,400 | 79,622 | 0 | (42,327 | ) | 162,695 | |||||||||||||||
Gross profit on sales | 48,837 | 42,916 | 0 | 0 | 91,753 | ||||||||||||||||
Selling, general and administrative expenses | 26,646 | 29,227 | 8,045 | 0 | 63,918 | ||||||||||||||||
Operating income (loss) | 22,191 | 13,689 | (8,045 | ) | 0 | 27,835 | |||||||||||||||
Interest/other expense | 7,456 | 2,655 | (3,694 | ) | 0 | 6,417 | |||||||||||||||
Income before taxes on income and equity in income of subsidiaries | 14,735 | 11,034 | (4,351 | ) | 0 | 21,418 | |||||||||||||||
Income tax expense | 4,445 | 3,329 | (1,313 | ) | 0 | 6,461 | |||||||||||||||
Equity in income (loss) of subsidiaries | 0 | 0 | 17,995 | (17,995 | ) | 0 | |||||||||||||||
Income (loss) from continuing operations | 10,290 | 7,705 | 14,957 | (17,995 | ) | 14,957 | |||||||||||||||
Income (loss) from discontinued operations (net of tax) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||
Net income (loss) | $ | 10,290 | $ | 7,705 | $ | 14,957 | $ | (17,995 | ) | $ | 14,957 | ||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 29, 2013 | |||||||||||||||||||||
GUARANTOR | NON- | INTERFACE, | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | INC. | AND | TOTALS | |||||||||||||||||
SUBSIDIARIES | (PARENT | ELIMINATION | |||||||||||||||||||
CORPORATION) | ENTRIES | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net sales | $ | 470,391 | $ | 351,167 | $ | 0 | $ | (113,258 | ) | $ | 708,300 | ||||||||||
Cost of sales | 339,192 | 233,128 | 0 | (113,258 | ) | 459,062 | |||||||||||||||
Gross profit on sales | 131,199 | 118,039 | 0 | 0 | 249,238 | ||||||||||||||||
Selling, general and administrative expenses | 77,095 | 84,461 | 24,050 | 0 | 185,606 | ||||||||||||||||
Operating income (loss) | 54,104 | 33,578 | (24,050 | ) | 0 | 63,632 | |||||||||||||||
Interest/other expense | 21,310 | 7,585 | (10,008 | ) | 0 | 18,887 | |||||||||||||||
Income (loss) before taxes on income and equity in income of subsidiaries | 32,794 | 25,993 | (14,042 | ) | 0 | 44,745 | |||||||||||||||
Income tax expense | 8,452 | 6,151 | (2,777 | ) | 0 | 11,826 | |||||||||||||||
Equity in income (loss) of subsidiaries | 0 | 0 | 44,184 | (44,184 | ) | 0 | |||||||||||||||
Income (loss) from continuing operations | 24,342 | 19,842 | 32,919 | (44,184 | ) | 32,919 | |||||||||||||||
Net income (loss) | $ | 24,342 | $ | 19,842 | $ | 32,919 | $ | (44,184 | ) | $ | 32,919 | ||||||||||
GUARANTOR | NON- | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | (PARENT | AND ELIMINATION | TOTAL | |||||||||||||||||
SUBSIDIARIES | CORPORATION) | ENTRIES | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net Income (loss) | $ | 10,290 | $ | 7,705 | $ | 14,957 | $ | (17,995 | ) | $ | 14,957 | ||||||||||
Currency Translation Adjustment | (98 | ) | 7,360 | 241 | 0 | 7,503 | |||||||||||||||
Pension Liability Adjustment | 0 | (1,478 | ) | 74 | 0 | (1,404 | ) | ||||||||||||||
Comprehensive Income (Loss) | $ | 10,192 | $ | 13,587 | $ | 15,272 | $ | (17,995 | ) | $ | 21,056 | ||||||||||
GUARANTOR | NON- GUARANTOR | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | SUBSIDIARIES | (PARENT | AND ELIMINATION | TOTAL | |||||||||||||||||
CORPORATION) | ENTRIES | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net Income (loss) | $ | 24,342 | $ | 19,842 | $ | 32,919 | $ | (44,184 | ) | $ | 32,919 | ||||||||||
Currency Translation Adjustment | (313 | ) | (5,564 | ) | 455 | 0 | (5,422 | ) | |||||||||||||
Pension Liability Adjustment | 0 | (57 | ) | 220 | 0 | 163 | |||||||||||||||
Comprehensive Income (Loss) | $ | 24,029 | $ | 14,221 | $ | 33,594 | $ | (44,184 | ) | $ | 27,660 | ||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
29-Sep-13 | |||||||||||||||||||||
GUARANTOR SUBSIDIARIES | NON- | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
GUARANTOR | (PARENT | AND ELIMINATION | TOTALS | ||||||||||||||||||
SUBSIDIARIES | CORPORATION) | ENTRIES | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 2,556 | $ | 43,783 | $ | 43,043 | $ | 0 | $ | 89,382 | |||||||||||
Accounts receivable | 55,596 | 84,880 | 625 | 0 | 141,101 | ||||||||||||||||
Inventories | 79,210 | 83,635 | 0 | 0 | 162,845 | ||||||||||||||||
Prepaids and deferred income taxes | 5,323 | 19,681 | 14,393 | 0 | 39,397 | ||||||||||||||||
Total current assets | 142,685 | 231,979 | 58,061 | 0 | 432,725 | ||||||||||||||||
Property and equipment less accumulated depreciation | 81,129 | 110,413 | 2,946 | 0 | 194,488 | ||||||||||||||||
Investment in subsidiaries | 576,326 | 185,033 | (102,133 | ) | (659,226 | ) | 0 | ||||||||||||||
Goodwill | 6,542 | 70,605 | 0 | 0 | 77,147 | ||||||||||||||||
Other assets | 1,588 | 9,323 | 103,118 | 0 | 114,029 | ||||||||||||||||
$ | 808,270 | $ | 607,353 | $ | 61,992 | $ | (659,226 | ) | $ | 818,389 | |||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||
Current liabilities | $ | 53,865 | $ | 84,537 | $ | 29,110 | $ | 0 | $ | 167,512 | |||||||||||
Senior notes | 0 | 0 | 275,000 | 0 | 275,000 | ||||||||||||||||
Deferred income taxes | 0 | 11,171 | (3,423 | ) | 0 | 7,748 | |||||||||||||||
Other | 15 | (465 | ) | 45,410 | 0 | 44,960 | |||||||||||||||
Total liabilities | 53,880 | 95,243 | 346,097 | 0 | 495,220 | ||||||||||||||||
Common stock | 94,145 | 102,199 | 6,627 | (196,344 | ) | 6,627 | |||||||||||||||
Additional paid-in capital | 249,302 | 12,525 | 371,757 | (261,827 | ) | 371,757 | |||||||||||||||
Retained earnings (deficit) | 413,199 | 451,183 | (652,448 | ) | (201,055 | ) | 10,879 | ||||||||||||||
Foreign currency translation adjustment | (2,256 | ) | (22,255 | ) | (6,255 | ) | 0 | (30,766 | ) | ||||||||||||
Pension liability | 0 | (31,542 | ) | (3,786 | ) | 0 | (35,328 | ) | |||||||||||||
$ | 808,270 | $ | 607,353 | $ | 61,992 | $ | (659,226 | ) | $ | 818,389 | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
FOR THE NINE MONTHS | |||||||||||||||||||||
ENDED SEPTEMBER 29, 2013 | |||||||||||||||||||||
GUARANTOR | NON- | INTERFACE, | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | INC. | AND ELIMINATION | TOTALS | |||||||||||||||||
SUBSIDIARIES | (PARENT | ENTRIES | |||||||||||||||||||
CORPORATION) | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net cash provided by operating activities | $ | 15,364 | $ | 6,871 | $ | 6,408 | $ | (1,404 | ) | $ | 27,239 | ||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Purchase of plant and equipment | (15,427 | ) | (32,429 | ) | (83 | ) | 0 | (47,939 | ) | ||||||||||||
Other | (297 | ) | 3,470 | (1,298 | ) | 0 | 1,875 | ||||||||||||||
Cash received from insurance company | 0 | 23,024 | 0 | 0 | 23,024 | ||||||||||||||||
Net cash used for investing activities | (15,724 | ) | (5,935 | ) | (1,381 | ) | 0 | (23,040 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Other | (1,016 | ) | 7,741 | (8,129 | ) | 1,404 | 0 | ||||||||||||||
Proceeds from issuance of common stock | 0 | 0 | 1,163 | 0 | 1,163 | ||||||||||||||||
Dividends paid | 0 | 0 | (5,294 | ) | 0 | (5,294 | ) | ||||||||||||||
Net cash provided by (used for) financing activities | (1,016 | ) | 7,741 | (12,260 | ) | 1,404 | (4,131 | ) | |||||||||||||
Effect of exchange rate change on cash | 0 | (1,219 | ) | 0 | 0 | (1,219 | ) | ||||||||||||||
Net increase (decrease) in cash | (1,376 | ) | 7,458 | (7,233 | ) | 0 | (1,151 | ) | |||||||||||||
Cash at beginning of period | 3,932 | 36,325 | 50,276 | 0 | 90,533 | ||||||||||||||||
Cash at end of period | $ | 2,556 | $ | 43,783 | $ | 43,043 | $ | 0 | $ | 89,382 | |||||||||||
Note_2_Inventories_Tables
Note 2 - Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
Sept. 29, 2013 | 30-Dec-12 | ||||||||
(In thousands) | |||||||||
Finished Goods | $ | 104,968 | $ | 87,094 | |||||
Work in Process | 10,513 | 7,030 | |||||||
Raw Materials | 47,364 | 47,052 | |||||||
$ | 162,845 | $ | 141,176 |
Note_3_Earnings_Per_Share_Tabl
Note 3 - Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Distributed And Undistributed Earnings [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
Earnings Per Share | |||||||||||||||||
Basic Earnings Per Share from Continuing Operations: | |||||||||||||||||
Distributed Earnings | $ | 0.03 | $ | 0.03 | $ | 0.08 | $ | 0.07 | |||||||||
Undistributed Earnings | 0.2 | 0.14 | 0.42 | 0.17 | |||||||||||||
Total | $ | 0.23 | $ | 0.17 | $ | 0.5 | $ | 0.24 | |||||||||
Diluted Earnings Per Share from Continuing Operations: | |||||||||||||||||
Distributed Earnings | $ | 0.03 | $ | 0.03 | $ | 0.08 | $ | 0.07 | |||||||||
Undistributed Earnings | 0.2 | 0.14 | 0.42 | 0.17 | |||||||||||||
Total | $ | 0.23 | $ | 0.17 | $ | 0.5 | $ | 0.24 | |||||||||
Earnings (Loss) Per Share | |||||||||||||||||
Continuing Operations | $ | 0.23 | $ | 0.17 | $ | 0.5 | $ | 0.24 | |||||||||
Discontinued Operations | 0 | (0.26 | ) | 0 | (0.26 | ) | |||||||||||
Earnings (Loss) Per Share | $ | 0.23 | $ | (0.09 | ) | $ | 0.5 | $ | (0.02 | ) | |||||||
Net Income Attributable To Company [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In millions) | |||||||||||||||||
Net Income (Loss) | $ | 0.4 | $ | (0.2 | ) | $ | 0.9 | $ | (0.1 | ) | |||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Weighted Average Shares Outstanding | 64,446 | 63,983 | 64,423 | 63,729 | |||||||||||||
Participating Securities | 1,737 | 1,974 | 1,737 | 1,974 | |||||||||||||
Shares for Basic Earnings Per Share | 66,183 | 65,957 | 66,160 | 65,703 | |||||||||||||
Dilutive Effect of Stock Options | 134 | 172 | 129 | 99 | |||||||||||||
Shares for Diluted Earnings Per Share | 66,317 | 66,129 | 66,289 | 65,802 | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Shares Excluded | 0 | 83 | 0 | 264 |
Note_6_Stockbased_Compensation1
Note 6 - Stock-based Compensation (Tables) | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||
Shares | Weighted Average | ||||||||
Exercise Price | |||||||||
Outstanding at December 30, 2012 | 393,500 | $ | 9.12 | ||||||
Granted | 0 | 0 | |||||||
Exercised | 129,000 | 8.65 | |||||||
Forfeited or canceled | 8,500 | 2.71 | |||||||
Outstanding at September 29, 2013 | 256,000 | $ | 8.64 | ||||||
Exercisable at September 29, 2013 | 251,000 | $ | 8.56 | ||||||
Cash Proceeds And Intrinsic Value Related To Stock Options Exercised [Table Text Block] | ' | ||||||||
Nine Months Ended | |||||||||
Sept. 29, 2013 | Sept. 30, 2012 | ||||||||
(In millions) | |||||||||
Proceeds from stock options exercised | $ | 1.2 | $ | 0.3 | |||||
Intrinsic value of stock options exercised | 1.2 | 0.3 | |||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||
Shares | Weighted Average | ||||||||
Grant Date | |||||||||
Fair Value | |||||||||
Outstanding at December 30, 2012 | 1,973,500 | $ | 14.79 | ||||||
Granted | 670,000 | 16.23 | |||||||
Vested | 405,000 | 14.65 | |||||||
Forfeited or canceled | 501,500 | 14.05 | |||||||
Outstanding at September 29, 2013 | 1,737,000 | $ | 15.57 |
Note_7_Employee_Benefit_Plans_
Note 7 - Employee Benefit Plans (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
Defined Benefit Retirement Plan (Europe) | (In thousands) | (In thousands) | |||||||||||||||
Service cost | $ | 212 | $ | 110 | $ | 632 | $ | 339 | |||||||||
Interest cost | 2,391 | 2,525 | 7,147 | 7,611 | |||||||||||||
Expected return on assets | (2,488 | ) | (2,797 | ) | (7,438 | ) | (8,435 | ) | |||||||||
Amortization of prior service costs | 22 | 12 | 66 | 38 | |||||||||||||
Recognized net actuarial losses | 243 | 230 | 727 | 690 | |||||||||||||
Net periodic benefit cost | $ | 380 | $ | 80 | $ | 1,134 | $ | 243 | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
Salary Continuation Plan (SCP) | (In thousands) | (In thousands) | |||||||||||||||
Service cost | $ | 134 | $ | 113 | $ | 401 | $ | 339 | |||||||||
Interest cost | 249 | 254 | 748 | 761 | |||||||||||||
Amortization of prior service cost | 12 | 12 | 36 | 36 | |||||||||||||
Amortization of loss | 110 | 67 | 331 | 201 | |||||||||||||
Net periodic benefit cost | $ | 505 | $ | 446 | $ | 1,516 | $ | 1,337 |
Note_8_2012_Restructuring_Char1
Note 8 - 2012 Restructuring Charges (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||
2012 [Member] | ' | ||||||||||||||||||||
Note 8 - 2012 Restructuring Charges (Tables) [Line Items] | ' | ||||||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||||||
Total | Costs Incurred | Costs Incurred | Balance at | ||||||||||||||||||
Restructuring | in 2012 | in 2013 | Sept. 29, 2013 | ||||||||||||||||||
Charge | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Workforce Reduction | $ | 8,465 | $ | 5,205 | $ | 3,134 | $ | 126 | |||||||||||||
Fixed Asset Impairment | 9,364 | 9,364 | 0 | 0 | |||||||||||||||||
Other Related Exit Costs | 1,596 | 1,034 | 198 | 364 | |||||||||||||||||
2011 [Member] | ' | ||||||||||||||||||||
Note 8 - 2012 Restructuring Charges (Tables) [Line Items] | ' | ||||||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||||||
Restructuring | Costs Incurred | Costs Incurred | Costs Incurred | Balance at | |||||||||||||||||
Charge | in 2011 | in 2012 | in 2013 | Sept. 29, 2013 | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
Workforce Reduction | $ | 4,979 | $ | 867 | $ | 3,450 | $ | 133 | $ | 529 | |||||||||||
Fixed Asset Impairment | 776 | 776 | 0 | 0 | 0 |
Note_10_Discontinued_Operation1
Note 10 - Discontinued Operations (Tables) (Income Statement [Member]) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Income Statement [Member] | ' | ||||||||||||||||
Note 10 - Discontinued Operations (Tables) [Line Items] | ' | ||||||||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | ' | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Sept. 29, 2013 | Sept. 30, 2012 | Sept. 29, 2013 | Sept. 30, 2012 | ||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||
Net sales | $ | 0 | $ | 9,210 | $ | 0 | $ | 57,017 | |||||||||
Income (loss) on operations before taxes on income | 0 | (25,875 | ) | 0 | (26,062 | ) | |||||||||||
Tax expense (benefit) | 0 | (9,035 | ) | 0 | (9,106 | ) | |||||||||||
Income (loss) on operations, net of tax | 0 | (16,840 | ) | 0 | (16,956 | ) |
Note_14_Fire_at_Australian_Man1
Note 14 - Fire at Australian Manufacturing Facility (Tables) | 9 Months Ended | ||||
Sep. 29, 2013 | |||||
Fire At Manufacturing Facility [Abstract] | ' | ||||
Schedule Of Losses And Recoveries Related To Facility Destroyed By Fire [Table Text Block] | ' | ||||
(In millions) | |||||
Impairment of fixed assets at the Picton facility | $ | 25 | |||
Incremental payroll costs | 17.9 | ||||
Incremental shipping costs | 7.6 | ||||
Other incremental costs | 6.3 | ||||
Total incurred costs through September 29, 2013 | $ | 56.8 | |||
Insurance recovery receivable | $ | 1.9 | |||
Insurance recoveries already received | $ | 54.9 |
Note_16_Supplemental_Condensed1
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||
Supplemental Guarantor Financial Statements [Abstract] | ' | ||||||||||||||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||||||||||
GUARANTOR | NON- | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | (PARENT | AND ELIMINATION | TOTALS | |||||||||||||||||
SUBSIDIARIES | CORPORATION) | ENTRIES | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net sales | $ | 174,237 | $ | 122,538 | $ | 0 | $ | (42,327 | ) | $ | 254,448 | ||||||||||
Cost of sales | 125,400 | 79,622 | 0 | (42,327 | ) | 162,695 | |||||||||||||||
Gross profit on sales | 48,837 | 42,916 | 0 | 0 | 91,753 | ||||||||||||||||
Selling, general and administrative expenses | 26,646 | 29,227 | 8,045 | 0 | 63,918 | ||||||||||||||||
Operating income (loss) | 22,191 | 13,689 | (8,045 | ) | 0 | 27,835 | |||||||||||||||
Interest/other expense | 7,456 | 2,655 | (3,694 | ) | 0 | 6,417 | |||||||||||||||
Income before taxes on income and equity in income of subsidiaries | 14,735 | 11,034 | (4,351 | ) | 0 | 21,418 | |||||||||||||||
Income tax expense | 4,445 | 3,329 | (1,313 | ) | 0 | 6,461 | |||||||||||||||
Equity in income (loss) of subsidiaries | 0 | 0 | 17,995 | (17,995 | ) | 0 | |||||||||||||||
Income (loss) from continuing operations | 10,290 | 7,705 | 14,957 | (17,995 | ) | 14,957 | |||||||||||||||
Income (loss) from discontinued operations (net of tax) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||
Net income (loss) | $ | 10,290 | $ | 7,705 | $ | 14,957 | $ | (17,995 | ) | $ | 14,957 | ||||||||||
GUARANTOR | NON- | INTERFACE, | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | INC. | AND | TOTALS | |||||||||||||||||
SUBSIDIARIES | (PARENT | ELIMINATION | |||||||||||||||||||
CORPORATION) | ENTRIES | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net sales | $ | 470,391 | $ | 351,167 | $ | 0 | $ | (113,258 | ) | $ | 708,300 | ||||||||||
Cost of sales | 339,192 | 233,128 | 0 | (113,258 | ) | 459,062 | |||||||||||||||
Gross profit on sales | 131,199 | 118,039 | 0 | 0 | 249,238 | ||||||||||||||||
Selling, general and administrative expenses | 77,095 | 84,461 | 24,050 | 0 | 185,606 | ||||||||||||||||
Operating income (loss) | 54,104 | 33,578 | (24,050 | ) | 0 | 63,632 | |||||||||||||||
Interest/other expense | 21,310 | 7,585 | (10,008 | ) | 0 | 18,887 | |||||||||||||||
Income (loss) before taxes on income and equity in income of subsidiaries | 32,794 | 25,993 | (14,042 | ) | 0 | 44,745 | |||||||||||||||
Income tax expense | 8,452 | 6,151 | (2,777 | ) | 0 | 11,826 | |||||||||||||||
Equity in income (loss) of subsidiaries | 0 | 0 | 44,184 | (44,184 | ) | 0 | |||||||||||||||
Income (loss) from continuing operations | 24,342 | 19,842 | 32,919 | (44,184 | ) | 32,919 | |||||||||||||||
Net income (loss) | $ | 24,342 | $ | 19,842 | $ | 32,919 | $ | (44,184 | ) | $ | 32,919 | ||||||||||
Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||
GUARANTOR | NON- | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | (PARENT | AND ELIMINATION | TOTAL | |||||||||||||||||
SUBSIDIARIES | CORPORATION) | ENTRIES | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net Income (loss) | $ | 10,290 | $ | 7,705 | $ | 14,957 | $ | (17,995 | ) | $ | 14,957 | ||||||||||
Currency Translation Adjustment | (98 | ) | 7,360 | 241 | 0 | 7,503 | |||||||||||||||
Pension Liability Adjustment | 0 | (1,478 | ) | 74 | 0 | (1,404 | ) | ||||||||||||||
Comprehensive Income (Loss) | $ | 10,192 | $ | 13,587 | $ | 15,272 | $ | (17,995 | ) | $ | 21,056 | ||||||||||
GUARANTOR | NON- GUARANTOR | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | SUBSIDIARIES | (PARENT | AND ELIMINATION | TOTAL | |||||||||||||||||
CORPORATION) | ENTRIES | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net Income (loss) | $ | 24,342 | $ | 19,842 | $ | 32,919 | $ | (44,184 | ) | $ | 32,919 | ||||||||||
Currency Translation Adjustment | (313 | ) | (5,564 | ) | 455 | 0 | (5,422 | ) | |||||||||||||
Pension Liability Adjustment | 0 | (57 | ) | 220 | 0 | 163 | |||||||||||||||
Comprehensive Income (Loss) | $ | 24,029 | $ | 14,221 | $ | 33,594 | $ | (44,184 | ) | $ | 27,660 | ||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||||||||||
GUARANTOR SUBSIDIARIES | NON- | INTERFACE, INC. | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
GUARANTOR | (PARENT | AND ELIMINATION | TOTALS | ||||||||||||||||||
SUBSIDIARIES | CORPORATION) | ENTRIES | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 2,556 | $ | 43,783 | $ | 43,043 | $ | 0 | $ | 89,382 | |||||||||||
Accounts receivable | 55,596 | 84,880 | 625 | 0 | 141,101 | ||||||||||||||||
Inventories | 79,210 | 83,635 | 0 | 0 | 162,845 | ||||||||||||||||
Prepaids and deferred income taxes | 5,323 | 19,681 | 14,393 | 0 | 39,397 | ||||||||||||||||
Total current assets | 142,685 | 231,979 | 58,061 | 0 | 432,725 | ||||||||||||||||
Property and equipment less accumulated depreciation | 81,129 | 110,413 | 2,946 | 0 | 194,488 | ||||||||||||||||
Investment in subsidiaries | 576,326 | 185,033 | (102,133 | ) | (659,226 | ) | 0 | ||||||||||||||
Goodwill | 6,542 | 70,605 | 0 | 0 | 77,147 | ||||||||||||||||
Other assets | 1,588 | 9,323 | 103,118 | 0 | 114,029 | ||||||||||||||||
$ | 808,270 | $ | 607,353 | $ | 61,992 | $ | (659,226 | ) | $ | 818,389 | |||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||
Current liabilities | $ | 53,865 | $ | 84,537 | $ | 29,110 | $ | 0 | $ | 167,512 | |||||||||||
Senior notes | 0 | 0 | 275,000 | 0 | 275,000 | ||||||||||||||||
Deferred income taxes | 0 | 11,171 | (3,423 | ) | 0 | 7,748 | |||||||||||||||
Other | 15 | (465 | ) | 45,410 | 0 | 44,960 | |||||||||||||||
Total liabilities | 53,880 | 95,243 | 346,097 | 0 | 495,220 | ||||||||||||||||
Common stock | 94,145 | 102,199 | 6,627 | (196,344 | ) | 6,627 | |||||||||||||||
Additional paid-in capital | 249,302 | 12,525 | 371,757 | (261,827 | ) | 371,757 | |||||||||||||||
Retained earnings (deficit) | 413,199 | 451,183 | (652,448 | ) | (201,055 | ) | 10,879 | ||||||||||||||
Foreign currency translation adjustment | (2,256 | ) | (22,255 | ) | (6,255 | ) | 0 | (30,766 | ) | ||||||||||||
Pension liability | 0 | (31,542 | ) | (3,786 | ) | 0 | (35,328 | ) | |||||||||||||
$ | 808,270 | $ | 607,353 | $ | 61,992 | $ | (659,226 | ) | $ | 818,389 | |||||||||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||||||||||||
GUARANTOR | NON- | INTERFACE, | CONSOLIDATION | CONSOLIDATED | |||||||||||||||||
SUBSIDIARIES | GUARANTOR | INC. | AND ELIMINATION | TOTALS | |||||||||||||||||
SUBSIDIARIES | (PARENT | ENTRIES | |||||||||||||||||||
CORPORATION) | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net cash provided by operating activities | $ | 15,364 | $ | 6,871 | $ | 6,408 | $ | (1,404 | ) | $ | 27,239 | ||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Purchase of plant and equipment | (15,427 | ) | (32,429 | ) | (83 | ) | 0 | (47,939 | ) | ||||||||||||
Other | (297 | ) | 3,470 | (1,298 | ) | 0 | 1,875 | ||||||||||||||
Cash received from insurance company | 0 | 23,024 | 0 | 0 | 23,024 | ||||||||||||||||
Net cash used for investing activities | (15,724 | ) | (5,935 | ) | (1,381 | ) | 0 | (23,040 | ) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Other | (1,016 | ) | 7,741 | (8,129 | ) | 1,404 | 0 | ||||||||||||||
Proceeds from issuance of common stock | 0 | 0 | 1,163 | 0 | 1,163 | ||||||||||||||||
Dividends paid | 0 | 0 | (5,294 | ) | 0 | (5,294 | ) | ||||||||||||||
Net cash provided by (used for) financing activities | (1,016 | ) | 7,741 | (12,260 | ) | 1,404 | (4,131 | ) | |||||||||||||
Effect of exchange rate change on cash | 0 | (1,219 | ) | 0 | 0 | (1,219 | ) | ||||||||||||||
Net increase (decrease) in cash | (1,376 | ) | 7,458 | (7,233 | ) | 0 | (1,151 | ) | |||||||||||||
Cash at beginning of period | 3,932 | 36,325 | 50,276 | 0 | 90,533 | ||||||||||||||||
Cash at end of period | $ | 2,556 | $ | 43,783 | $ | 43,043 | $ | 0 | $ | 89,382 |
Note_2_Inventories_Details_Com
Note 2 - Inventories (Details) - Components of Inventories (USD $) | Sep. 29, 2013 | Dec. 30, 2012 |
In Thousands, unless otherwise specified | ||
Components of Inventories [Abstract] | ' | ' |
Finished Goods | $104,968 | $87,094 |
Work in Process | 10,513 | 7,030 |
Raw Materials | 47,364 | 47,052 |
$162,845 | $141,176 |
Note_3_Earnings_Per_Share_Deta
Note 3 - Earnings Per Share (Details) - Distributed and Undistributed Earnings (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | |
Basic Earnings Per Share from Continuing Operations: | ' | ' | ' | ' |
Basic earnings per share attributable to Interface, Inc. common shareholders | $0.23 | $0.17 | $0.50 | $0.24 |
Diluted Earnings Per Share from Continuing Operations: | ' | ' | ' | ' |
Diluted earnings per share attributable to Interface, Inc. common shareholders | $0.23 | $0.17 | $0.50 | $0.24 |
Earnings (Loss) Per Share | ' | ' | ' | ' |
Continuing Operations | $0.23 | $0.17 | $0.50 | $0.24 |
Discontinued Operations | $0 | ($0.26) | $0 | ($0.26) |
Earnings (Loss) Per Share | $0.23 | ($0.09) | $0.50 | ($0.02) |
Distributed Earnings [Member] | ' | ' | ' | ' |
Basic Earnings Per Share from Continuing Operations: | ' | ' | ' | ' |
Basic earnings per share attributable to Interface, Inc. common shareholders | $0.03 | $0.03 | $0.08 | $0.07 |
Diluted Earnings Per Share from Continuing Operations: | ' | ' | ' | ' |
Diluted earnings per share attributable to Interface, Inc. common shareholders | $0.03 | $0.03 | $0.08 | $0.07 |
Undistributed Earnings [Member] | ' | ' | ' | ' |
Basic Earnings Per Share from Continuing Operations: | ' | ' | ' | ' |
Basic earnings per share attributable to Interface, Inc. common shareholders | $0.20 | $0.14 | $0.42 | $0.17 |
Diluted Earnings Per Share from Continuing Operations: | ' | ' | ' | ' |
Diluted earnings per share attributable to Interface, Inc. common shareholders | $0.20 | $0.14 | $0.42 | $0.17 |
Note_3_Earnings_Per_Share_Deta1
Note 3 - Earnings Per Share (Details) - Net Income Attributable to Participating Securities (Participating Securities [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Participating Securities [Member] | ' | ' | ' | ' |
Note 3 - Earnings Per Share (Details) - Net Income Attributable to Participating Securities [Line Items] | ' | ' | ' | ' |
Net Income (Loss) | $0.40 | ($0.20) | $0.90 | ($0.10) |
Note_3_Earnings_Per_Share_Deta2
Note 3 - Earnings Per Share (Details) - Weighted Average Shares for Basic and Diluted EPS | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Weighted Average Shares for Basic and Diluted EPS [Abstract] | ' | ' | ' | ' |
Weighted Average Shares Outstanding | 64,446 | 63,983 | 64,423 | 63,729 |
Participating Securities | 1,737 | 1,974 | 1,737 | 1,974 |
Shares for Basic Earnings Per Share | 66,183 | 65,957 | 66,160 | 65,703 |
Dilutive Effect of Stock Options | 134 | 172 | 129 | 99 |
Shares for Diluted Earnings Per Share | 66,317 | 66,129 | 66,289 | 65,802 |
Note_3_Earnings_Per_Share_Deta3
Note 3 - Earnings Per Share (Details) - Antidilutive Securities | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Antidilutive Securities [Abstract] | ' | ' | ' | ' |
Shares Excluded | 0 | 83 | 0 | 264 |
Note_4_Segment_Information_Det
Note 4 - Segment Information (Details) | 9 Months Ended |
Sep. 29, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Operating Segments | 3 |
Number of Reportable Segments | 1 |
Note_5_Longterm_Debt_Details
Note 5 - Long-term Debt (Details) | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 10, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Oct. 22, 2013 | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Oct. 22, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Terminated [Member] | Terminated [Member] | Senior 7 5/8% Notes [Member] | Senior 7 5/8% Notes [Member] | Senior Secured 11 3/8% Notes [Member] | Senior Secured 11 3/8% Notes [Member] | Syndication Facility Agreement [Member] | Domestic Line of Credit [Member] | Royal Bank of Scotland [Member] | Royal Bank of Scotland [Member] | Foreign Line of Credit [Member] | |
If Used to Pay Off Remaining 7 5/8% Senior Notes [Member] | Through and Including First Fiscal Quarter Ending December 28, 2014 [Member] | From and Including First Fiscal Quarter Ending April 5, 2015 [Member] | For Each Fiscal Quarter Thereafter [Member] | Standby Letters of Credit [Member] | Europe and Australia [Member] | Thailand [Member] | Federal Funds Rate [Member] | Senior 7 5/8% Notes [Member] | Syndication Facility Agreement [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Domestic Line of Credit [Member] | Royal Bank of Scotland [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | |
Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | USD ($) | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | Syndication Facility Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Syndication Facility Agreement [Member] | USD ($) | EUR (€) | ||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | Syndication Facility Agreement [Member] | Syndication Facility Agreement [Member] | ||||||||||||||||||||
Note 5 - Long-term Debt (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $275,000,000 | $275,000,000 | $8,100,000 | $8,100,000 | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | 7.63% | 11.38% | 11.38% | ' | ' | ' | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 298,400,000 | 299,800,000 | 8,100,000 | 8,100,000 | ' | ' | ' | ' | ' |
Debt Instrument, Repurchased Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | 27,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Redemption Price, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 103.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | 40,000,000 | 190,000,000 | 10,000,000 | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 17,900,000 |
Line of Credit Facility, Maximum Borrowing Capacity, Optional Increase | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | 1.25% | 0.25% | 2.50% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.20% | ' | 0.35% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Consolidated Net Leverage Ratio | ' | 4.5 | 4 | 3.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Consolidated Interest Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold of Other Indebtedness Triggering Default | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Percentage of First-tier Subsidiary Stock Pledged as Collateral | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,600,000 | 3,600,000 | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $71,400,000 | $27,100,000 | € 20,000,000 | ' |
Note_6_Stockbased_Compensation2
Note 6 - Stock-based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Note 6 - Stock-based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $0.10 | ' | $0.10 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '1 year | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 2.8 | ' | 2.8 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | 2.8 | ' | 2.8 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | ' | ' | 670,000 | 573,500 |
Employee Stock Option [Member] | ' | ' | ' | ' |
Note 6 - Stock-based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | 0.1 | 0.1 | 0.1 | 0.5 |
Restricted Stock [Member] | ' | ' | ' | ' |
Note 6 - Stock-based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | ' | 5 | 3.2 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 13.7 | ' | 13.7 | ' |
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | ' | ' | $2 | $0.50 |
Restricted Stock [Member] | Minimum [Member] | ' | ' | ' | ' |
Note 6 - Stock-based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '2 years | ' |
Restricted Stock [Member] | Maximum [Member] | ' | ' | ' | ' |
Note 6 - Stock-based Compensation (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '5 years | ' |
Note_6_Stockbased_Compensation3
Note 6 - Stock-based Compensation (Details) - Stock Options Outstanding (USD $) | 9 Months Ended |
Sep. 29, 2013 | |
Stock Options Outstanding [Abstract] | ' |
Outstanding at December 30, 2012 | 393,500 |
Outstanding at December 30, 2012 (in Dollars per share) | $9.12 |
Granted | 0 |
Granted (in Dollars per share) | $0 |
Exercised | 129,000 |
Exercised (in Dollars per share) | $8.65 |
Forfeited or canceled | 8,500 |
Forfeited or canceled (in Dollars per share) | $2.71 |
Outstanding at September 29, 2013 | 256,000 |
Outstanding at September 29, 2013 (in Dollars per share) | $8.64 |
Exercisable at September 29, 2013 | 251,000 |
Exercisable at September 29, 2013 (in Dollars per share) | $8.56 |
Note_6_Stockbased_Compensation4
Note 6 - Stock-based Compensation (Details) - Cash Proceeds And Intrinsic Value Related To Total Stock Options Exercised (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
Cash Proceeds And Intrinsic Value Related To Total Stock Options Exercised [Abstract] | ' | ' |
Proceeds from stock options exercised | $1.20 | $0.30 |
Intrinsic value of stock options exercised | $1.20 | $0.30 |
Note_6_Stockbased_Compensation5
Note 6 - Stock-based Compensation (Details) - Restricted Stock Outstanding (USD $) | 9 Months Ended | |
Sep. 29, 2013 | Sep. 30, 2012 | |
Restricted Stock Outstanding [Abstract] | ' | ' |
Outstanding at December 30, 2012 | 1,973,500 | ' |
Outstanding at December 30, 2012 (in Dollars per share) | $14.79 | ' |
Granted | 670,000 | 573,500 |
Granted (in Dollars per share) | $16.23 | ' |
Vested | 405,000 | ' |
Vested (in Dollars per share) | $14.65 | ' |
Forfeited or canceled | 501,500 | ' |
Forfeited or canceled (in Dollars per share) | $14.05 | ' |
Outstanding at September 29, 2013 | 1,737,000 | ' |
Outstanding at September 29, 2013 (in Dollars per share) | $15.57 | ' |
Note_7_Employee_Benefit_Plans_1
Note 7 - Employee Benefit Plans (Details) - Components of Net Periodic Benefit Cost (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Defined Benefit Retirement Plan (Europe) [Member] | ' | ' | ' | ' |
Note 7 - Employee Benefit Plans (Details) - Components of Net Periodic Benefit Cost [Line Items] | ' | ' | ' | ' |
Service cost | $212 | $110 | $632 | $339 |
Interest cost | 2,391 | 2,525 | 7,147 | 7,611 |
Expected return on assets | -2,488 | -2,797 | -7,438 | -8,435 |
Amortization of prior service cost | 22 | 12 | 66 | 38 |
Recognized net actuarial losses | 243 | 230 | 727 | 690 |
Net periodic benefit cost | 380 | 80 | 1,134 | 243 |
Salary Continuation Plan (SCP) [Member] | ' | ' | ' | ' |
Note 7 - Employee Benefit Plans (Details) - Components of Net Periodic Benefit Cost [Line Items] | ' | ' | ' | ' |
Service cost | 134 | 113 | 401 | 339 |
Interest cost | 249 | 254 | 748 | 761 |
Amortization of prior service cost | 12 | 12 | 36 | 36 |
Amortization of loss | 110 | 67 | 331 | 201 |
Net periodic benefit cost | $505 | $446 | $1,516 | $1,337 |
Note_8_2012_Restructuring_Char2
Note 8 - 2012 Restructuring Charges (Details) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 30, 2012 | Sep. 30, 2012 | Apr. 01, 2012 | Jan. 01, 2012 | Apr. 01, 2012 | Apr. 01, 2012 | Jan. 01, 2012 | Apr. 01, 2012 | Jun. 30, 2012 | Dec. 30, 2012 | Jan. 01, 2012 | Sep. 29, 2013 |
Employee Severance [Member] | Employee Severance [Member] | Employee Severance [Member] | Employee Severance [Member] | Other Restructuring [Member] | Fixed Asset Impairment [Member] | Contract Termination and Asset Impairment [Member] | Restructuring Charge 2012 [Member] | Restructuring Charge 2012 [Member] | Restructuring Charge 2012 [Member] | Restructuring Charge 2011 [Member] | Restructuring Charge 2011 [Member] | |
Restructuring Charge 2012 [Member] | Restructuring Charge 2012 [Member] | Restructuring Charge 2012 [Member] | Restructuring Charge 2011 [Member] | Restructuring Charge 2012 [Member] | Restructuring Charge 2012 [Member] | Restructuring Charge 2011 [Member] | ||||||
Note 8 - 2012 Restructuring Charges (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charges | $2.30 | $0.80 | $5.40 | $5 | $1.60 | $9.30 | $0.80 | $16.30 | ' | ' | $5.80 | ' |
Effect on Future Cash Flows, Amount | ' | ' | ' | ' | ' | ' | ' | ' | $7 | ' | ' | $5 |
Restructuring and Related Cost, Number of Positions Eliminated | ' | ' | ' | ' | ' | ' | ' | ' | ' | 145 | 90 | ' |
Note_8_2012_Restructuring_Char3
Note 8 - 2012 Restructuring Charges (Details) - Restructuring Activities 2012 (Restructuring Charge 2012 [Member], USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 29, 2013 | Dec. 30, 2012 | Jan. 03, 2012 |
Employee Severance [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring Costs | $126 | ' | $8,465 |
Restructuring Costs | 3,134 | 5,205 | ' |
Fixed Asset Impairment [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring Costs | 0 | ' | 9,364 |
Restructuring Costs | 0 | 9,364 | ' |
Other Restructuring [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring Costs | 364 | ' | 1,596 |
Restructuring Costs | $198 | $1,034 | ' |
Note_9_2011_Restructuring_Char
Note 9 - 2011 Restructuring Charge (Details) - Restructuring Activities 2011 (Restructuring Charge 2011 [Member], USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jan. 01, 2012 | Sep. 29, 2013 | Dec. 30, 2012 |
Employee Severance [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring Costs | $4,979 | $529 | ' |
Restructuring Costs | 867 | 133 | 3,450 |
Fixed Asset Impairment [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring Costs | 776 | 0 | ' |
Restructuring Costs | $776 | $0 | $0 |
Note_10_Discontinued_Operation2
Note 10 - Discontinued Operations (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||
Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Jul. 31, 2012 | |
Bentley Prince Street [Member] | Bentley Prince Street [Member] | Bentley Prince Street [Member] | |||||
Note 10 - Discontinued Operations (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Significant Acquisitions and Disposals, Acquisition Costs or Sale Proceeds | ' | ' | ' | ' | ' | ' | $33,700,000 |
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | ' | ' | ' | ' | 10,100,000 | 10,100,000 | ' |
Disposal Group, Including Discontinued Operation, Inventory | ' | ' | ' | ' | 29,000,000 | 29,000,000 | ' |
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | ' | ' | ' | ' | 11,800,000 | 11,800,000 | ' |
Disposal Group, Including Discontinued Operation, Accounts Payable | ' | ' | ' | ' | 7,600,000 | 7,600,000 | ' |
Gain (Loss) on Disposition of Business | ' | ' | ' | ' | -8,600,000 | -8,600,000 | ' |
Direct Cost to Sell Business Segment Included In Loss From Discontinued Operations | ' | ' | ' | ' | 5,900,000 | 5,900,000 | ' |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $0 | ($16,840,000) | $0 | ($16,956,000) | ($2,300,000) | ($2,500,000) | ' |
Note_10_Discontinued_Operation3
Note 10 - Discontinued Operations (Details) - Summary operating results for discontinued operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Summary operating results for discontinued operations [Abstract] | ' | ' | ' | ' |
Net sales | $0 | $9,210 | $0 | $57,017 |
Income (loss) on operations before taxes on income | 0 | -25,875 | 0 | -26,062 |
Tax expense (benefit) | 0 | -9,035 | 0 | -9,106 |
Income (loss) on operations, net of tax | $0 | ($16,840) | $0 | ($16,956) |
Note_11_Supplemental_Cash_Flow1
Note 11 - Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
Supplemental Cash Flow Elements [Abstract] | ' | ' |
Interest Paid, Net | $11.60 | $12.80 |
Income Taxes Paid | $7.10 | $9.10 |
Note_13_Income_Taxes_Details
Note 13 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2013 | Sep. 29, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | $1.90 | $1.90 |
Unrecognized Tax Benefits | ' | $23.30 |
Note_14_Fire_at_Australian_Man2
Note 14 - Fire at Australian Manufacturing Facility (Details) (USD $) | 9 Months Ended | 11 Months Ended | 15 Months Ended |
In Millions, unless otherwise specified | Sep. 29, 2013 | Jun. 30, 2013 | Sep. 29, 2013 |
Note 14 - Fire at Australian Manufacturing Facility (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | ' | ' | $25 |
Insurance Recoveries | ' | ' | 54.9 |
Pincton Facility [Member] | ' | ' | ' |
Note 14 - Fire at Australian Manufacturing Facility (Details) [Line Items] | ' | ' | ' |
Asset Impairment Charges | 2.6 | ' | 25 |
Excess Production Cost Due To Fire | ' | ' | 31.8 |
Insurance Recoveries | ' | ' | 54.9 |
Profit Lost Due To Fire | ' | $7 | ' |
Note_14_Fire_at_Australian_Man3
Note 14 - Fire at Australian Manufacturing Facility (Details) - Nature of expenses related to fire (USD $) | 15 Months Ended |
In Millions, unless otherwise specified | Sep. 29, 2013 |
Nature of expenses related to fire [Abstract] | ' |
Impairment of fixed assets at the Picton facility | $25 |
Incremental payroll costs | 17.9 |
Incremental shipping costs | 7.6 |
Other incremental costs | 6.3 |
Total incurred costs through September 29, 2013 | 56.8 |
Insurance recovery receivable | 1.9 |
Insurance recoveries already received | $54.90 |
Note_15_Items_Reclassified_fro1
Note 15 - Items Reclassified from Other Comprehensive Income (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 29, 2013 |
Partners' Capital, Comprehensive Income [Abstract] | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), before Tax | $1.10 |
Note_16_Supplemental_Condensed2
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) | Sep. 29, 2013 |
Supplemental Guarantor Financial Statements [Abstract] | ' |
Equity Method Investment, Ownership Percentage | 100.00% |
Note_16_Supplemental_Condensed3
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Condensed Consolidating Statement of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales | $254,448 | $242,863 | $708,300 | $682,425 |
Cost of sales | 162,695 | 160,002 | 459,062 | 450,344 |
Gross profit on sales | 91,753 | 82,861 | 249,238 | 232,081 |
Selling, general and administrative expenses | 63,918 | 58,014 | 185,606 | 168,134 |
Operating income (loss) | 27,835 | 23,097 | 63,632 | 45,881 |
Interest/other expense | 6,417 | ' | 18,887 | ' |
Income | 21,418 | 16,631 | 44,745 | 25,925 |
Income tax expense | 6,461 | 5,564 | 11,826 | 10,418 |
Equity in income (loss) of subsidiaries | 0 | ' | 0 | ' |
Income (loss) from continuing operations | 14,957 | 11,067 | 32,919 | 15,507 |
Income (loss) from discontinued operations (net of tax) | 0 | -16,840 | 0 | -16,956 |
Net income (loss) | 14,957 | -5,773 | 32,919 | -1,449 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales | -42,327 | ' | -113,258 | ' |
Cost of sales | -42,327 | ' | -113,258 | ' |
Gross profit on sales | 0 | ' | 0 | ' |
Selling, general and administrative expenses | 0 | ' | 0 | ' |
Operating income (loss) | 0 | ' | 0 | ' |
Interest/other expense | 0 | ' | 0 | ' |
Income | 0 | ' | 0 | ' |
Income tax expense | 0 | ' | 0 | ' |
Equity in income (loss) of subsidiaries | -17,995 | ' | -44,184 | ' |
Income (loss) from continuing operations | -17,995 | ' | -44,184 | ' |
Income (loss) from discontinued operations (net of tax) | 0 | ' | ' | ' |
Net income (loss) | -17,995 | ' | -44,184 | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales | 174,237 | ' | 470,391 | ' |
Cost of sales | 125,400 | ' | 339,192 | ' |
Gross profit on sales | 48,837 | ' | 131,199 | ' |
Selling, general and administrative expenses | 26,646 | ' | 77,095 | ' |
Operating income (loss) | 22,191 | ' | 54,104 | ' |
Interest/other expense | 7,456 | ' | 21,310 | ' |
Income | 14,735 | ' | 32,794 | ' |
Income tax expense | 4,445 | ' | 8,452 | ' |
Equity in income (loss) of subsidiaries | 0 | ' | 0 | ' |
Income (loss) from continuing operations | 10,290 | ' | 24,342 | ' |
Income (loss) from discontinued operations (net of tax) | 0 | ' | ' | ' |
Net income (loss) | 10,290 | ' | 24,342 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales | 122,538 | ' | 351,167 | ' |
Cost of sales | 79,622 | ' | 233,128 | ' |
Gross profit on sales | 42,916 | ' | 118,039 | ' |
Selling, general and administrative expenses | 29,227 | ' | 84,461 | ' |
Operating income (loss) | 13,689 | ' | 33,578 | ' |
Interest/other expense | 2,655 | ' | 7,585 | ' |
Income | 11,034 | ' | 25,993 | ' |
Income tax expense | 3,329 | ' | 6,151 | ' |
Equity in income (loss) of subsidiaries | 0 | ' | 0 | ' |
Income (loss) from continuing operations | 7,705 | ' | 19,842 | ' |
Income (loss) from discontinued operations (net of tax) | 0 | ' | ' | ' |
Net income (loss) | 7,705 | ' | 19,842 | ' |
Parent Company [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales | 0 | ' | 0 | ' |
Cost of sales | 0 | ' | 0 | ' |
Gross profit on sales | 0 | ' | 0 | ' |
Selling, general and administrative expenses | 8,045 | ' | 24,050 | ' |
Operating income (loss) | -8,045 | ' | -24,050 | ' |
Interest/other expense | -3,694 | ' | -10,008 | ' |
Income | -4,351 | ' | -14,042 | ' |
Income tax expense | -1,313 | ' | -2,777 | ' |
Equity in income (loss) of subsidiaries | 17,995 | ' | 44,184 | ' |
Income (loss) from continuing operations | 14,957 | ' | 32,919 | ' |
Income (loss) from discontinued operations (net of tax) | 0 | ' | ' | ' |
Net income (loss) | $14,957 | ' | $32,919 | ' |
Note_16_Supplemental_Condensed4
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Consolidated Statement of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Consolidated Statement of Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net Income (loss) | $14,957 | ($5,773) | $32,919 | ($1,449) |
Currency Translation Adjustment | 7,503 | 9,411 | -5,422 | 4,549 |
Pension Liability Adjustment | -1,404 | -1,240 | 163 | -1,274 |
Comprehensive Income (Loss) | 21,056 | 2,398 | 27,660 | 1,826 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Consolidated Statement of Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net Income (loss) | -17,995 | ' | -44,184 | ' |
Currency Translation Adjustment | 0 | ' | 0 | ' |
Pension Liability Adjustment | 0 | ' | 0 | ' |
Comprehensive Income (Loss) | -17,995 | ' | -44,184 | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Consolidated Statement of Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net Income (loss) | 10,290 | ' | 24,342 | ' |
Currency Translation Adjustment | -98 | ' | -313 | ' |
Pension Liability Adjustment | 0 | ' | 0 | ' |
Comprehensive Income (Loss) | 10,192 | ' | 24,029 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Consolidated Statement of Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net Income (loss) | 7,705 | ' | 19,842 | ' |
Currency Translation Adjustment | 7,360 | ' | -5,564 | ' |
Pension Liability Adjustment | -1,478 | ' | -57 | ' |
Comprehensive Income (Loss) | 13,587 | ' | 14,221 | ' |
Parent Company [Member] | ' | ' | ' | ' |
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Consolidated Statement of Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net Income (loss) | 14,957 | ' | 32,919 | ' |
Currency Translation Adjustment | 241 | ' | 455 | ' |
Pension Liability Adjustment | 74 | ' | 220 | ' |
Comprehensive Income (Loss) | $15,272 | ' | $33,594 | ' |
Note_16_Supplemental_Condensed5
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Condensed Consolidating Balance Sheet (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Jan. 01, 2012 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $89,382 | $90,533 | $91,651 | $50,624 |
Accounts receivable | 141,101 | 137,313 | ' | ' |
Inventories | 162,845 | 141,176 | ' | ' |
Prepaids and deferred income taxes | 39,397 | ' | ' | ' |
Total current assets | 432,725 | 430,651 | ' | ' |
Property and equipment less accumulated depreciation | 194,488 | 165,725 | ' | ' |
Investment in subsidiaries | 0 | ' | ' | ' |
Goodwill | 77,147 | 75,672 | ' | ' |
Other assets | 114,029 | ' | ' | ' |
818,389 | 789,367 | ' | ' | |
Current liabilities | 167,512 | 161,826 | ' | ' |
Senior notes | 275,000 | 275,000 | ' | ' |
Deferred income taxes | 7,748 | 7,339 | ' | ' |
Other | 44,960 | 49,500 | ' | ' |
Total liabilities | 495,220 | 493,665 | ' | ' |
Common stock | 6,627 | 6,606 | ' | ' |
Additional paid-in capital | 371,757 | 366,677 | ' | ' |
Retained earnings (deficit) | 10,879 | -16,746 | ' | ' |
Foreign currency translation adjustment | -30,766 | -25,344 | ' | ' |
Pension liability | -35,328 | -35,491 | ' | ' |
818,389 | 789,367 | ' | ' | |
Consolidation, Eliminations [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 0 | ' | ' | ' |
Accounts receivable | 0 | ' | ' | ' |
Inventories | 0 | ' | ' | ' |
Prepaids and deferred income taxes | 0 | ' | ' | ' |
Total current assets | 0 | ' | ' | ' |
Property and equipment less accumulated depreciation | 0 | ' | ' | ' |
Investment in subsidiaries | -659,226 | ' | ' | ' |
Goodwill | 0 | ' | ' | ' |
Other assets | 0 | ' | ' | ' |
-659,226 | ' | ' | ' | |
Current liabilities | 0 | ' | ' | ' |
Senior notes | 0 | ' | ' | ' |
Deferred income taxes | 0 | ' | ' | ' |
Other | 0 | ' | ' | ' |
Total liabilities | 0 | ' | ' | ' |
Common stock | -196,344 | ' | ' | ' |
Additional paid-in capital | -261,827 | ' | ' | ' |
Retained earnings (deficit) | -201,055 | ' | ' | ' |
Foreign currency translation adjustment | 0 | ' | ' | ' |
Pension liability | 0 | ' | ' | ' |
-659,226 | ' | ' | ' | |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 2,556 | ' | ' | ' |
Accounts receivable | 55,596 | ' | ' | ' |
Inventories | 79,210 | ' | ' | ' |
Prepaids and deferred income taxes | 5,323 | ' | ' | ' |
Total current assets | 142,685 | ' | ' | ' |
Property and equipment less accumulated depreciation | 81,129 | ' | ' | ' |
Investment in subsidiaries | 576,326 | ' | ' | ' |
Goodwill | 6,542 | ' | ' | ' |
Other assets | 1,588 | ' | ' | ' |
808,270 | ' | ' | ' | |
Current liabilities | 53,865 | ' | ' | ' |
Senior notes | 0 | ' | ' | ' |
Deferred income taxes | 0 | ' | ' | ' |
Other | 15 | ' | ' | ' |
Total liabilities | 53,880 | ' | ' | ' |
Common stock | 94,145 | ' | ' | ' |
Additional paid-in capital | 249,302 | ' | ' | ' |
Retained earnings (deficit) | 413,199 | ' | ' | ' |
Foreign currency translation adjustment | -2,256 | ' | ' | ' |
Pension liability | 0 | ' | ' | ' |
808,270 | ' | ' | ' | |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 43,783 | ' | ' | ' |
Accounts receivable | 84,880 | ' | ' | ' |
Inventories | 83,635 | ' | ' | ' |
Prepaids and deferred income taxes | 19,681 | ' | ' | ' |
Total current assets | 231,979 | ' | ' | ' |
Property and equipment less accumulated depreciation | 110,413 | ' | ' | ' |
Investment in subsidiaries | 185,033 | ' | ' | ' |
Goodwill | 70,605 | ' | ' | ' |
Other assets | 9,323 | ' | ' | ' |
607,353 | ' | ' | ' | |
Current liabilities | 84,537 | ' | ' | ' |
Senior notes | 0 | ' | ' | ' |
Deferred income taxes | 11,171 | ' | ' | ' |
Other | -465 | ' | ' | ' |
Total liabilities | 95,243 | ' | ' | ' |
Common stock | 102,199 | ' | ' | ' |
Additional paid-in capital | 12,525 | ' | ' | ' |
Retained earnings (deficit) | 451,183 | ' | ' | ' |
Foreign currency translation adjustment | -22,255 | ' | ' | ' |
Pension liability | -31,542 | ' | ' | ' |
607,353 | ' | ' | ' | |
Parent Company [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 43,043 | ' | ' | ' |
Accounts receivable | 625 | ' | ' | ' |
Inventories | 0 | ' | ' | ' |
Prepaids and deferred income taxes | 14,393 | ' | ' | ' |
Total current assets | 58,061 | ' | ' | ' |
Property and equipment less accumulated depreciation | 2,946 | ' | ' | ' |
Investment in subsidiaries | -102,133 | ' | ' | ' |
Goodwill | 0 | ' | ' | ' |
Other assets | 103,118 | ' | ' | ' |
61,992 | ' | ' | ' | |
Current liabilities | 29,110 | ' | ' | ' |
Senior notes | 275,000 | ' | ' | ' |
Deferred income taxes | -3,423 | ' | ' | ' |
Other | 45,410 | ' | ' | ' |
Total liabilities | 346,097 | ' | ' | ' |
Common stock | 6,627 | ' | ' | ' |
Additional paid-in capital | 371,757 | ' | ' | ' |
Retained earnings (deficit) | -652,448 | ' | ' | ' |
Foreign currency translation adjustment | -6,255 | ' | ' | ' |
Pension liability | -3,786 | ' | ' | ' |
$61,992 | ' | ' | ' |
Note_16_Supplemental_Condensed6
Note 16 - Supplemental Condensed Consolidating Guarantor Financial Statements (Details) - Condensed Consolidating Statement of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by operating activities | $27,239 | $43,904 |
Purchase of plant and equipment | -47,939 | -28,817 |
Other | 1,875 | -1,527 |
Cash received from insurance company | 23,024 | 10,000 |
Net cash used for investing activities | -23,040 | 11,830 |
Proceeds from issuance of common stock | 1,163 | 293 |
Dividends paid | -5,294 | -4,276 |
Net cash provided by (used for) financing activities | -4,131 | -15,460 |
Effect of exchange rate change on cash | -1,219 | 753 |
Net increase (decrease) in cash | -1,151 | 41,027 |
Cash | 89,382 | 91,651 |
Consolidation, Eliminations [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by operating activities | -1,404 | ' |
Purchase of plant and equipment | 0 | ' |
Other | 0 | ' |
Cash received from insurance company | 0 | ' |
Net cash used for investing activities | 0 | ' |
Other | 1,404 | ' |
Proceeds from issuance of common stock | 0 | ' |
Dividends paid | 0 | ' |
Net cash provided by (used for) financing activities | 1,404 | ' |
Effect of exchange rate change on cash | 0 | ' |
Net increase (decrease) in cash | 0 | ' |
Cash | 0 | ' |
Consolidation, Eliminations [Member] | Beginning of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 0 | ' |
Consolidation, Eliminations [Member] | End of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 0 | ' |
Consolidated Totals [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by operating activities | 27,239 | ' |
Purchase of plant and equipment | -47,939 | ' |
Other | 1,875 | ' |
Cash received from insurance company | 23,024 | ' |
Net cash used for investing activities | -23,040 | ' |
Other | 0 | ' |
Proceeds from issuance of common stock | 1,163 | ' |
Dividends paid | -5,294 | ' |
Net cash provided by (used for) financing activities | -4,131 | ' |
Effect of exchange rate change on cash | -1,219 | ' |
Net increase (decrease) in cash | -1,151 | ' |
Consolidated Totals [Member] | Beginning of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 90,533 | ' |
Consolidated Totals [Member] | End of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 89,382 | ' |
Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by operating activities | 15,364 | ' |
Purchase of plant and equipment | -15,427 | ' |
Other | -297 | ' |
Cash received from insurance company | 0 | ' |
Net cash used for investing activities | -15,724 | ' |
Other | -1,016 | ' |
Proceeds from issuance of common stock | 0 | ' |
Dividends paid | 0 | ' |
Net cash provided by (used for) financing activities | -1,016 | ' |
Effect of exchange rate change on cash | 0 | ' |
Net increase (decrease) in cash | -1,376 | ' |
Cash | 2,556 | ' |
Guarantor Subsidiaries [Member] | Beginning of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 3,932 | ' |
Guarantor Subsidiaries [Member] | End of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 2,556 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by operating activities | 6,871 | ' |
Purchase of plant and equipment | -32,429 | ' |
Other | 3,470 | ' |
Cash received from insurance company | 23,024 | ' |
Net cash used for investing activities | -5,935 | ' |
Other | 7,741 | ' |
Proceeds from issuance of common stock | 0 | ' |
Dividends paid | 0 | ' |
Net cash provided by (used for) financing activities | 7,741 | ' |
Effect of exchange rate change on cash | -1,219 | ' |
Net increase (decrease) in cash | 7,458 | ' |
Cash | 43,783 | ' |
Non-Guarantor Subsidiaries [Member] | Beginning of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 36,325 | ' |
Non-Guarantor Subsidiaries [Member] | End of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 43,783 | ' |
Parent Company [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash provided by operating activities | 6,408 | ' |
Purchase of plant and equipment | -83 | ' |
Other | -1,298 | ' |
Cash received from insurance company | 0 | ' |
Net cash used for investing activities | -1,381 | ' |
Other | -8,129 | ' |
Proceeds from issuance of common stock | 1,163 | ' |
Dividends paid | -5,294 | ' |
Net cash provided by (used for) financing activities | -12,260 | ' |
Effect of exchange rate change on cash | 0 | ' |
Net increase (decrease) in cash | -7,233 | ' |
Cash | 43,043 | ' |
Parent Company [Member] | Beginning of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | 50,276 | ' |
Parent Company [Member] | End of Period [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Cash | $43,043 | ' |