Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jan. 01, 2017 | Feb. 17, 2017 | Jul. 01, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | INTERFACE INC | ||
Entity Central Index Key | 715,787 | ||
Trading Symbol | tile | ||
Current Fiscal Year End Date | --01-01 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 64,230,649 | ||
Entity Public Float | $ 1,199,061,440 | ||
Document Type | 10-K | ||
Document Period End Date | Jan. 1, 2017 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | ||
Net sales | [1] | $ 958,617 | $ 1,001,863 | $ 1,003,903 |
Cost of sales | 589,973 | 618,974 | 663,876 | |
Gross profit on sales | 368,644 | 382,889 | 340,027 | |
Selling, general and administrative expenses | 263,919 | 269,296 | 257,346 | |
Restructuring and asset impairment charges | 19,788 | 0 | 12,386 | |
Operating income | 84,937 | 113,593 | 70,295 | |
Interest expense | 6,130 | 6,401 | 20,785 | |
Debt retirement expenses | 0 | 0 | 11,989 | |
Other expense (income) | (329) | 1,426 | 1,779 | |
Income before income tax expense | 79,136 | 105,766 | 35,742 | |
Income tax expense | 24,974 | 33,348 | 10,934 | |
Net income | $ 54,162 | $ 72,418 | $ 24,808 | |
Net income per share – basic (in dollars per share) | $ 0.83 | $ 1.10 | $ 0.37 | |
Net income per share – diluted (in dollars per share) | $ 0.83 | $ 1.10 | $ 0.37 | |
Basic weighted average common shares outstanding (in shares) | 65,098 | 66,027 | 66,389 | |
Diluted weighted average common shares outstanding (in shares) | 65,136 | 66,075 | 66,448 | |
[1] | Revenue attributed to geographic areas is based on the location of the customer. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Net income | $ 54,162 | $ 72,418 | $ 24,808 |
Other comprehensive income (loss) | |||
Foreign currency translation adjustment | (19,011) | (32,575) | (28,351) |
Pension liability adjustment | (11,572) | 6,072 | (15,280) |
Comprehensive income (loss) | $ 23,579 | $ 45,915 | $ (18,823) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 | |
Current | |||
Cash and cash equivalents | $ 165,672 | $ 75,696 | |
Accounts receivable, net | 126,004 | 130,322 | |
Inventories | 156,083 | 161,174 | |
Prepaid expenses and other current assets | 23,123 | 22,490 | |
Deferred income taxes | 10,030 | 8,726 | |
Total current assets | 480,912 | 398,408 | |
Property and equipment, net | [1] | 204,508 | 211,489 |
Deferred tax asset | 27,221 | 20,110 | |
Goodwill | 61,218 | 63,890 | |
Other assets | 65,714 | 62,652 | |
839,573 | 756,549 | ||
Current liabilities | |||
Accounts payable | 45,380 | 52,834 | |
Accrued expenses | 98,703 | 88,933 | |
Current portion of long-term debt | 15,000 | 11,250 | |
Total current liabilities | 159,083 | 153,017 | |
Long term debt | 255,347 | 202,281 | |
Deferred income taxes | 8,862 | 10,505 | |
Other | 75,552 | 48,380 | |
Total liabilities | 498,844 | 414,183 | |
Commitments and contingencies | |||
Shareholders’ equity | |||
Preferred stock | 0 | 0 | |
Common stock | 6,424 | 6,570 | |
Additional paid-in capital | 359,451 | 370,327 | |
Retained earnings | 140,238 | 100,270 | |
Accumulated other comprehensive loss – foreign currency translation | (110,522) | (91,511) | |
Accumulated other comprehensive loss – pension liability | (54,862) | (43,290) | |
Total shareholders’ equity | 340,729 | 342,366 | |
$ 839,573 | $ 756,549 | ||
[1] | Long-lived assets include tangible assets physically located in foreign countries. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
OPERATING ACTIVITIES: | |||
Net income | $ 54,162 | $ 72,418 | $ 24,808 |
Adjustments to reconcile income to cash provided by operating activities | |||
Depreciation and amortization | 30,632 | 30,803 | 30,677 |
Stock compensation amortization expense | 5,873 | 13,948 | 3,998 |
Bad debt expense | 145 | 763 | 137 |
Deferred income taxes and other | 468 | 9,052 | (3,534) |
Working capital changes: | |||
Accounts receivable | (372) | 18,738 | (29,255) |
Inventories | 2,686 | (26,452) | 1,343 |
Prepaid expenses and other current assets | (7,720) | (8,332) | 2,785 |
Accounts payable and accrued expenses | 7,289 | 14,497 | 15,421 |
Cash provided by operating activities | 93,163 | 125,435 | 46,380 |
INVESTING ACTIVITIES: | |||
Capital expenditures | (28,071) | (27,188) | (38,922) |
Other | 1,642 | 731 | 2,415 |
Cash used in investing activities | (26,429) | (26,457) | (36,507) |
FINANCING ACTIVITIES: | |||
Credit facility borrowing | 87,400 | 0 | 48,850 |
Credit facility repayments | (17,575) | (45,267) | (9,905) |
Term loan borrowings | 0 | 0 | 200,000 |
Term loan repayments | (12,500) | (2,500) | 0 |
Repurchase of common stock | (18,496) | (13,306) | (7,669) |
Dividends paid | (14,285) | (11,885) | (9,297) |
Debt issuance costs | 0 | 0 | (1,099) |
Redemption/repurchase of senior notes | 0 | 0 | (247,500) |
Proceeds from issuance of common stock | 0 | 359 | 408 |
Cash provided by (used in) financing activities | 24,544 | (72,599) | (26,212) |
Net cash provided by (used in) operating, investing and financing activities | 91,278 | 26,379 | (16,339) |
Effect of exchange rate changes on cash | (1,302) | (5,579) | (1,648) |
CASH AND CASH EQUIVALENTS: | |||
Net increase (decrease) | 89,976 | 20,800 | (17,987) |
Balance, beginning of year | 75,696 | 54,896 | 72,883 |
Balance, end of year | $ 165,672 | $ 75,696 | $ 54,896 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 The Company is a recognized leader in the worldwide commercial interiors market, offering modular carpet. The Company manufactures modular carpet focusing on the high quality, designer-oriented sector of the market, and provides specialized carpet replacement, installation and maintenance services. Additionally, the Company offers Intersept Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All of our subsidiaries are wholly-owned, and we are not a party to any joint venture, partnership or other variable interest entity that would potentially qualify for consolidation. All material intercompany accounts and transactions are eliminated. Investments in which the Company does not have the ability to exercise significant influence are carried at fair value. The Company monitors investments for other than temporary declines in value and makes reductions in carrying values when appropriate. As of January 1, 2017 January 3, 2016, Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Examples include provisions for returns, bad debts, product claims reserves, rebates, inventory obsolescence and the length of product life cycles, accruals associated with restructuring activities, income tax exposures and valuation allowances, environmental liabilities, and the carrying value of goodwill and property and equipment. Actual results could vary from these estimates. Revenue Recognition Revenue is recognized when the following criteria are met: persuasive evidence of an agreement exists, delivery has occurred or services have been rendered, price to the buyer is fixed and determinable, and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title and assumes the risks and rewards of ownership, which is generally on the date of shipment. Provisions for discounts, sales returns and allowances are estimated using historical experience, current economic trends, and the Company’s quality performance. The related provision is recorded as a reduction of sales and cost of sales in the same period that the revenue is recognized. Material differences may Shipping and handling fees billed to customers are classified in net sales in the consolidated statements of operations. Shipping and handling costs incurred are classified in cost of sales in the consolidated statements of operations. Research and Development Research and development costs are expensed as incurred and are included in the selling, general and administrative expense caption in the consolidated statements of operations. Research and development expense was $14.3 $14.5 $13.9 2016, 2015 2014, Cash, Cash Equivalents and Short-Term Investments Highly liquid investments with insignificant interest rate risk and with original maturities of three three one not January 1, 2017 January 3, 2016. Cash payments for interest amounted to approximately $5.5 $4.8 $21.0 2016, 2015, 2014, $12.8 $7.2 $7.5 2016, 2015 2014, 2016, 2015 2014, $0.2 $3.1 $5.0 Inventories Inventories are carried at the lower of cost (standards approximating the first first The Company writes down inventories for the difference between the carrying value of the inventories and their estimated net realizable value. If actual market conditions are less favorable than those projected by management, additional write-downs may Management estimates its reserves for inventory obsolescence by continuously examining its inventories to determine if there are indicators that carrying values exceed net realizable values. Experience has shown that significant indicators that could require the need for additional inventory write-downs are the age of the inventory, the length of its product life cycles, anticipated demand for the Company’s products, and current economic conditions. While management believes that adequate write-downs for inventory obsolescence have been made in the consolidated financial statements, consumer tastes and preferences will continue to change and the Company could experience additional inventory write-downs in the future. Rebates The Company has agreements to receive cash consideration from certain of its vendors, including rebates and cooperative marketing reimbursements. The amounts received from its vendors are generally presumed to be a reduction of the prices the Company pays for their products and, therefore, such amounts are reflected as either a reduction of cost of sales in the accompanying consolidated statements of operations, or, if the product inventory is still on hand at the reporting date, it is reflected as a reduction of “Inventories” on the accompanying consolidated balance sheets. Vendor rebates are typically dependent upon reaching minimum purchase thresholds. The Company evaluates the likelihood of reaching purchase thresholds using past experience and current year forecasts. When rebates can be reasonably estimated and receipt becomes probable, the Company records a portion of the rebate as the Company makes progress towards the purchase threshold. When the Company receives direct reimbursements for costs incurred in marketing the vendor’s product or service, the amount received is recorded as an offset to selling, general and administrative expenses in the accompanying consolidated statements of operations. Assets and Liabilities of Businesses Held for Sale The Company considers businesses to be held for sale when the Board or management, having the relevant authority to do so, approves and commits to a formal plan to actively market a business for sale and the sale is considered probable. Upon designation as held for sale, the carrying value of the assets of the business are recorded at the lower of their carrying value or their estimated fair value, less costs to sell. The Company ceases to record depreciation expense at that time. Property and Equipment and Long-Lived Assets Property and equipment are carried at cost. Depreciation is computed using the straight-line method over the following estimated useful lives: buildings and improvements – ten forty three twelve $0.5 $0.3 $0.8 2016, 2015 2014, $30.1 $30.4 $30.3 2016, 2015 2014, Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may Goodwill and Other Intangible Assets Goodwill is the excess of the purchase price over the fair value of net assets acquired in business combinations accounted for as acquisitions. Accumulated amortization amounted to approximately $77.3 January 1, 2017 January 3, 2016, $212.6 January 1, 2017 January 3, 2016. As of January 1, 2017 January 3, 2016, $61.2 $63.9 $0.9 $4.8 January 1, 2017 January 3, 2016, 2016, 2015 2014 $0.5 $0.3 $0.3 The Company capitalizes patent defense costs when it determines that a successful defense is probable. Any patent defense costs are amortized over the remaining useful life of the patent. During 2016 $3.4 TacTiles® During the fourth 2016, 2015 2014, third one no Each of the Company’s reporting units maintained fair values in excess of their respective carrying values as of the measurement date, and therefore no impairment was indicated during the impairment testing. As of January 1, 2017, 10% The changes in the carrying amounts of goodwill for the year ended January 1, 2017 BALANCE JANUARY 3, ACQUISITIONS IMPAIRMENT FOREIGN CURRENCY TRANSLATION BALANCE JANUARY 1, (in thousands) $ 63,890 $ 0 $ 0 $ (2,672 ) $ 61,218 Product Warranties The Company typically provides limited warranties with respect to certain attributes of its carpet products (for example, warranties regarding excessive surface wear, edge ravel and static electricity) for periods ranging from ten twenty one The Company records a provision related to warranty costs based on historical experience and periodically adjusts these provisions to reflect changes in actual experience. Warranty and sales allowance reserves amounted to $5.5 $4.8 January 1, 2017 January 3, 2016, Taxes on Income The Company accounts for income taxes under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than enactments of changes in tax laws or rates. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized as income or expense in the period that includes the enactment date. The Company records a valuation allowance to reduce its deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will expire before realization of the benefit or that future deductibility is not probable. The ultimate realization of the deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character in the future. This requires us to use estimates and make assumptions regarding significant future events such as the taxability of entities operating in the various taxing jurisdictions. The Company does not record taxes collected from customers and remitted to governmental authorities on a gross basis. For uncertain tax positions, the Company applies the provisions of relevant authoritative guidance, which requires application of a “more likely than not” threshold to the recognition and derecognition of tax positions. The Company’s ongoing assessments of the more likely than not outcomes of tax authority examinations and related tax positions require significant judgment and can increase or decrease the Company’s effective tax rate as well as impact operating results. For further information, see the Note 13 Fair Values of Financial Instruments Fair values of cash and cash equivalents and short-term debt approximate cost due to the short period of time to maturity. Fair values of debt are based on quoted market prices or pricing models using current market rates. Translation of Foreign Currencies The financial position and results of operations of the Company’s foreign subsidiaries are measured generally using local currencies as the functional currency. Assets and liabilities of these subsidiaries are translated into U.S. dollars at the exchange rate in effect at each year-end. Income and expense items are translated at average exchange rates for the year. The resulting translation adjustments are recorded in the foreign currency translation adjustment account. In the event of a divestiture of a foreign subsidiary, the related foreign currency translation results are reversed from equity to income. Foreign currency exchange gains and losses are included in net income (loss). Foreign exchange translation losses were $19.0 $32.6 $28.4 2016, 2015 2014, Income (Loss) Per Share Basic income (loss) per share is computed based on the average number of common shares outstanding. Diluted income (loss) per share reflects the increase in average common shares outstanding that would result from the assumed exercise of outstanding stock options, calculated using the treasury stock method. Stock-Based Compensation As of fiscal year 2016, 10 The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model. However, there were no 2016, 2015 2014. The Company recognizes expense related to its restricted stock and performance share grants based on the grant date fair value of the stock issued, as determined by its market price at date of grant. Derivative Financial Instruments Accounting standards require a company to recognize all derivatives on the balance sheet at fair value. Derivatives that do not meet the criteria of an accounting hedge must be adjusted to fair value through income. If the derivative is a fair value hedge, changes in the fair value of the hedged assets, liabilities or firm commitments are recognized through earnings. If the derivative is a cash flow hedge, the effective portion of changes in the fair value of the derivative are recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. As of January 1, 2017 January 3, 2016, Pension Benefits Environmental Remediation The Company provides for remediation costs and penalties when the responsibility to remediate is probable and the amount of associated costs is reasonably determinable. Remediation liabilities are accrued based on estimates of known environmental exposures and are discounted in certain instances. The Company regularly monitors the progress of environmental remediation. Should studies indicate that the cost of remediation is to be more than previously estimated, an additional accrual would be recorded in the period in which such determination is made. As of January 1, 2017 January 3, 2016, no Allowances for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of customers to make required payments. Estimating this amount requires the Company to analyze the financial strengths of its customers. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may may January 1, 2017 January 3, 2016, $3.8 $4.5 Reclassifications Certain prior period amounts have been reclassified to conform to current year financial statement presentation. These reclassifications had no effect on reported income, comprehensive income, cash flows, total assets or shareholders’ equity as previously reported. Fiscal Year The Company’s fiscal year is the 52 53 December 31. “2016,” “2015,” “2014,” January 1, 2017, January 3, 2016 December 28, 2014, 2015 53 2016 2014 52 |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2 RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, December 15, 2016, August 2015, one In July 2015, December 15, 2016, In November 2015, one may December 15, 2016, 2016 $10.0 $6.0 $4.0 In March 2016, December 15, 2016, $5.8 first 2017 first 2017 $5.0 first 2016 In February 2016, 12 December 15, 2018, |
Note 3 - Receivables
Note 3 - Receivables | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 3 RECEIVABLES The Company has adopted credit policies and standards intended to reduce the inherent risk associated with potential increases in its concentration of credit risk due to increasing trade receivables from sales to owners and users of commercial office facilities and with specifiers such as architects, engineers and contracting firms. Management believes that credit risks are further moderated by the diversity of its end customers and geographic sales areas. The Company performs ongoing credit evaluations of its customers’ financial condition and requires collateral as deemed necessary. The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of customers to make required payments. If the financial condition of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may January 1, 2017 January 3, 2016, $3.8 $4.5 $5.5 $4.8 January 1, 2017 January 3, 2016, |
Note 4 - Fair Value of Financia
Note 4 - Fair Value of Financial Instruments | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 4 FAIR VALUE OF FINANCIAL INSTRUMENTS The Company does not have significant assets and liabilities measured at fair value on a recurring basis under applicable accounting standards as of the end of 2016. $23.1 January 1, 2017, |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5 INVENTORIES Inventories are summarized as follows : END OF FISCAL YEAR 2016 2015 (in thousands) Finished goods $ 104,742 $ 101,697 Work-in-process 8,711 9,865 Raw materials 42,630 49,612 $ 156,083 $ 161,174 Reserves for inventory obsolescence amounted to $17.6 $15.5 January 1, 2017 January 3, 2016, |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6 PROPERTY AND EQUIPMENT Property and equipment consisted of the following: END OF FISCAL YEAR 2016 2015 (in thousands) Land $ 16,063 $ 16,501 Buildings 121,216 125,568 Equipment 350,539 342,986 487,818 485,055 Accumulated depreciation (283,310 ) (273,566 ) $ 204,508 $ 211,489 The estimated cost to complete construction-in-progress for which the Company was committed at January 1, 2017, $61.9 |
Note 7 - Accrued Expenses
Note 7 - Accrued Expenses | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 7 ACCRUED EXPENSES Accrued expenses are summarized as follows: END OF FISCAL YEAR 2016 2015 (in thousands) Compensation $ 58,927 $ 62,435 Interest 114 442 Restructuring 10,291 104 Taxes 11,467 9,299 Accrued purchases 3,101 4,104 Warranty and sales allowances 5,529 4,759 Other 9,274 7,790 $ 98,703 $ 88,933 Other non-current liabilities include pension liability of $47.3 $29.3 January 1, 2017 January 3, 2016, 15 |
Note 8 - Borrowings
Note 8 - Borrowings | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8 BORROWINGS Syndicated Credit Facility The Company has a syndicated credit facility (the “Facility”) pursuant to which the lenders provide to the Company and certain of its subsidiaries a multicurrency revolving credit facility and provide to the Company a term loan. The key features of the Facility are as follows: ● The Facility matures on October 3, 2019. ● 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 $240 one $10 one $40 ● The Facility includes $200 7.625% 2018 ● The Facility provides for required amortization payments of the Term Loan A borrowing, as well as mandatory prepayments of the Term Loan A borrowing (and any term loans made available pursuant to any future multicurrency loan facility increase) from certain asset sales, casualty events and debt issuances, subject to certain qualifications and exceptions as provided for therein. ● Advances under the Facility are secured by a first ● 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 borrowing availability under the Facility, either for revolving loans or term loans, by up to $150 Interest Rates and Fees 0.25% 1.50% 0.50%, 1.25% 2.50% 0.20% 0.35% Amortization Payments $2.5 December 31, 2015. $3.75 December 31, 2016. Covenants ● 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 December 28, 2014, 4.00:1.00 April 5, 2015 January 3, 2016, 3.75:1.00 ● Consolidated Interest Coverage Ratio: Must be no less than 2.25:1.00 Events of Default $20 may, ● 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 65% first may, first As described below, in the fourth 2014, $27.5 7.625% 2018 103% November 26, 2014, $220 7.625% 103.813% December 1, 2014. In December 2016, one 61 $63.5 first 2017. As of January 1, 2017, $185.0 $85.3 $2.9 January 1, 2017 2.1%. The Company is currently in compliance with all covenants under the Facility and anticipates that it will remain in compliance with the covenants for the foreseeable future. 7.625% Senior Notes In 2010, $275 7.625% 2018 “7.625% 7.625% June 1 December 1 first June 1, 2011). November 2013, $27.5 7.625% 103% November 2014, $27.5 7.625% 103% December 2014, $220 7.625% 103.813% 2014 $9.3 Other Lines of Credit Subsidiaries of the Company have an aggregate of the equivalent of $14.8 2.5% 6.5%. January 1, 2017 January 3, 2016, no Borrowing Costs Deferred borrowing costs, which include underwriting, legal and other direct costs related to the issuance of debt, net of accumulated amortization, were $1.4 $1.9 January 1, 2017 January 3, 2016, 2016, 2015 2014 $0.5 $0.5 $3.8 2014 $2.8 Future Maturities The aggregate maturities of borrowings for each of the five 2016 FISCAL YEAR AMOUNT (in thousands) 2017 $ 15,000 2018 15,000 2019 240,347 2020 0 2021 0 Thereafter 0 $ 270,347 |
Note 9 - Preferred Stock
Note 9 - Preferred Stock | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | NOTE 9 PREFERRED STOCK The Company is authorized to designate and issue up to 5,000,000 $1.00 one may January 1, 2017 January 3, 2016, no Preferred Share Purchase Rights The Company has previously issued one March 2008. one one The Rights may 15% The dividend and liquidation rights of the Series B Preferred Stock are designed so that the value of one one $90, $1.00 100 $1.00, 100 100 Each share of Series B Preferred Stock will be entitled to 100 one Further, whenever dividends on the Series B Preferred Stock are in arrears in an amount equal to six one Prior to entering into the March 2008 1998. |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 10 SHAREHOLDERS’ EQUITY Prior to March 5, 2012, two March 5, 2012, 10% March 5, 2012, March 5, 2012 120 $0.10 The Company’s Common Stock is traded on the Nasdaq Global Select Market under the symbol TILE. The Company paid dividends totaling $0.22 2016, $0.18 2015 $0.14 2014, may may As such, the Company may On October 7, 2014, 500,000 2014 2014, 500,000 $15.30 November 19, 2015, 500,000 2016 may November 19, 2015 2016. second 2016, $50 2016, 1,177,600 $15.68 2015, 650,000 $20.47 All treasury stock is accounted for using the cost method. The following tables depict the activity in the accounts which make up shareholders equity for the years 2016, 2015 2014. SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION (in thousands) Balance, at December 29, 2013 66,311 $ 6,631 $ 374,597 $ 24,226 $ (34,082 ) $ (30,585 ) Net income 0 0 0 24,808 0 0 Stock issuances under employee option plans 55 5 381 0 0 0 Other issuances of common stock 489 49 10,361 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (10,410 ) 0 0 0 Cash dividends paid 0 0 0 (9,297 ) 0 0 Forfeitures and compensation expense related to stock awards (387 ) (38 ) 1,293 0 0 0 Share repurchases (500 ) (50 ) (7,619 ) 0 0 0 Pension liability adjustment 0 0 0 0 (15,280 ) 0 Foreign currency translation adjustment 0 0 0 0 0 (28,351 ) Other 0 0 0 0 0 0 Balance, at December 28, 2014 65,968 $ 6,597 $ 368,603 $ 39,737 $ (49,362 ) $ (58,936 ) SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT (in thousands) Balance, at December 28, 2014 65,968 $ 6,597 $ 368,603 $ 39,737 $ (49,362 ) $ (58,936 ) Net income 0 0 0 72,418 0 0 Stock issuances under employee option plans 39 4 355 0 0 0 Other issuances of common stock 597 59 9,746 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (9,806 ) 0 0 0 Cash dividends paid 0 0 0 (11,885 ) 0 0 Forfeitures and compensation expense related to stock awards (253 ) (25 ) 14,670 0 0 0 Share repurchases (650 ) (65 ) (13,241 ) 0 0 0 Pension liability adjustment 0 0 0 0 6,072 0 Foreign currency translation adjustment 0 0 0 0 0 (32,575 ) Other 0 0 0 0 0 0 Balance, at January 3, 2016 65,701 $ 6,570 $ 370,327 $ 100,270 $ (43,290 ) $ (91,511 ) SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT (in thousands) Balance, at January 3, 2016 65,701 $ 6,570 $ 370,327 $ 100,270 $ (43,290 ) $ (91,511 ) Net income 0 0 0 54,162 0 0 Stock issuances under employee plans 17 2 251 0 0 0 Other issuances of common stock 277 28 4,726 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (4,754 ) 0 0 0 Cash dividends paid 0 0 0 (14,285 ) 0 0 Forfeitures and compensation expense related to stock awards (579 ) (58 ) 979 0 0 0 Share Repurchases (1,178 ) (118 ) (18,378 ) 0 0 0 Pension liability adjustment 0 0 0 0 (11,572 ) 0 Foreign currency translation adjustment 0 0 0 0 0 (19,011 ) Windfall tax benefit - share-based payment awards 0 0 6,300 0 0 0 Other 0 0 0 91 0 0 Balance, at January 1, 2017 64,238 $ 6,424 $ 359,451 $ 140,238 $ (54,862 ) $ (110,522 ) Stock Options The Company has an Omnibus Stock Incentive Plan (“Omnibus Plan”) under which a committee of independent directors is authorized to grant directors and key employees, including officers, options to purchase the Company’s Common Stock. Options are exercisable for shares of Common Stock at a price not less than 100% one five three ten May 2015, February 2025, 5,161,020 1.33 Accounting standards require that the Company measure the cost of employee services received in exchange for an award of equity instruments based on the grant date fair market 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. 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 expense by the assumed forfeiture rate and will evaluate actual experience against the assumed forfeiture rate going forward. This expense reduction is not significant to the Company. All outstanding stock options vested prior to 2014 no 2014, 2015 2016. The following table summarizes stock options outstanding as of January 1, 2017, Shares Weighted Average Exercise Price Outstanding at January 3, 2016 87,500 $ 8.75 Granted 0 0 Exercised 0 0 Forfeited or cancelled 0 0 Outstanding at January 1, 2017 (a) 87,500 $ 8.75 Exercisable at January 1, 2017 (b) 87,500 $ 8.75 (a) At January 1, 2017, 2.9 (b) At January 1, 2017, 2.9 At January 1, 2017, $0.9 $0.9 The intrinsic value of stock options exercised in 2015 2014 $0.4 $0.6 2015 2014 $0.4 $0.4 The tax benefit recognized with respect to stock options during all presented years was not significant. Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding at January 1, 2017 Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable at January 1, Weighted Average Exercise Price $4.01 – $5.00 40,000 2.0 $ 4.31 40,000 $ 4.31 $12.00 – $14.00 47,500 3.7 12.49 47,500 12.49 87,500 2.9 $ 8.75 87,500 $ 8.75 Restricted Stock Awards During fiscal years 2016, 2015 2014, 277,000, 597,000 489,000 two five Compensation expense related to the vesting of restricted stock was $4.7 $13.9 $4.0 2016, 2015 2014, The following table summarizes restricted stock activity as of January 1, 2017, Shares Weighted Average Grant Date Fair Value Outstanding at January 3, 2016 1,470,000 $ 17.92 Granted 277,000 17.32 Vested 1,009,500 18.46 Forfeited or cancelled 232,500 16.73 Outstanding at January 1, 2017 505,000 $ 17.05 As of January 1, 2017, $2.8 2019. As stated above, accounting standards require the Company to estimate forfeitures in calculating the expense related to stock-based compensation, as opposed to only recognizing these forfeitures and the corresponding reduction in expense as they occur. The tax benefit recognized with respect to restricted stock during the years 2016, 2015 2014 $2.0 $5.5 $1.0 Performance Share Awards In 2016, one three may may 200%) The following table summarizes the performance shares outstanding as of January 1, 2017, Performance Shares Weighted Average Grant Date Fair Value Outstanding at January 3, 2016 0 $ 0 Granted 444,000 17.21 Vested 17,000 17.22 Forfeited or canceled 58,000 17.22 Outstanding at January 1, 2017 369,000 $ 17.20 Compensation expense related to the performance shares for 2016 $1.2 $4.3 January 1, 2017. No 2015 2014. no 2016. |
Note 11 - Income (Loss) Per Sha
Note 11 - Income (Loss) Per Share | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 11 INCOME (LOSS) PER SHARE The Company computes basic earnings (loss) per share (“EPS”) by dividing net income (loss), by the weighted average common shares outstanding, including participating securities outstanding, during the period as depicted 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. Income attributable to non-controlling interest is included in the computation of basic and diluted earnings per share, where applicable. 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 common 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: Fiscal Year 2016 2015 2014 Earnings per share: Basic earnings per share Distributed earnings $ 0.22 $ 0.18 $ 0.14 Undistributed earnings 0.61 0.92 0.23 $ 0.83 $ 1.10 $ 0.37 Diluted earnings per share Distributed earnings $ 0.22 $ 0.18 $ 0.14 Undistributed earnings 0.61 0.92 0.23 $ 0.83 $ 1.10 $ 0.37 The following table presents net income that was attributable to participating securities: Fiscal Year 201 6 2015 2014 (in millions) Net income $ 0.4 $ 1.6 $ 0.5 The weighted average shares for basic and diluted EPS were as follows: Fiscal Year 2016 2015 2014 (in thousands) Weighted Average Shares Outstanding 64,593 64,557 64,998 Participating Securities 505 1,470 1,391 Shares for Basic Earnings Per Share 65,098 66,027 66,389 Dilutive Effect of Stock Options 38 48 59 Shares for Diluted Earnings Per Share 65,136 66,075 66,448 For all periods presented, there were no |
Note 12 - Restructuring Charges
Note 12 - Restructuring Charges | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 12 RESTRUCTURING CHARGE S In the fourth 2016, 70 As a result of this plan, the Company incurred a pre-tax restructuring and asset impairment charge in the fourth 2016 $19.8 first 2017 $7 9 first 2017 first 2017.) A summary of these restructuring activities is presented below: Total Restructuring Charge Costs Incurred in 2016 Balance at Jan. 1, 2017 (in thousands) Workforce Reduction $ 10,058 $ 1,451 $ 8,607 Asset Impairment 8,019 8,019 0 Lease Exit Costs 1,711 27 1,684 |
Note 13 - Taxes on Income
Note 13 - Taxes on Income | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 13 Provisions for federal, foreign and state income taxes in the consolidated statements of operations consisted of the following components: FISCAL YEAR 2016 2015 2014 (in thousands) Current expense/(benefit): Federal $ 6,886 $ 1,524 $ 224 Foreign 12,934 9,279 5,555 State 1,633 1,403 712 21,453 12,206 6,491 Deferred expense/(benefit): Federal 6,186 19,971 3,856 Foreign (1,937 ) 3,795 493 State (728 ) (2,624 ) 94 3,521 21,142 4,443 $ 24,974 $ 33,348 $ 10,934 Income before taxes on income consisted of the following: FISCAL YEAR 2016 2015 2014 (in thousands) U.S. operations $ 38,357 $ 58,318 $ 10,345 Foreign operations 40,779 47,448 25,397 $ 79,136 $ 105,766 $ 35,742 Deferred income taxes for the years ended January 1, 2017, January 3, 2016, The Company expects to utilize in its 2016 $18.0 $6.3 At January 1, 2017, $14 2032, $14 $3.8 $108.9 2035. $40.2 $58.7 The sources of the temporary differences and their effect on the net deferred tax asset are as follows: 2016 2015 ASSETS LIABILITIES ASSETS LIABILITIES (in thousands) Basis differences of property and equipment $ 0 $ 14,419 $ 0 $ 16,254 Basis difference of intangible assets 978 0 0 368 Foreign currency 0 3,216 0 5,375 Net operating loss carryforwards 3,627 0 5,575 0 Valuation allowances on net operating loss carryforwards (2,500 ) 0 (4,457 ) 0 Federal tax credits 5,711 0 4,580 0 Deferred compensation 26,546 0 26,352 0 Basis difference of inventory 4,009 0 2,390 0 Basis difference of prepaids, accruals and reserves 6,273 0 6,556 0 Pensions 3,435 0 1,075 0 Undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 0 1,704 0 1,226 Basis difference of other assets and liabilities 0 351 0 517 $ 48,079 $ 19,690 $ 42,071 $ 23,740 Deferred tax assets and liabilities are included in the accompanying balance sheets as follows: FISCAL YEAR 2016 2015 (in thousands) Deferred income taxes (current asset) $ 10,030 $ 8,726 Deferred tax asset (non-current asset) 27,221 20,110 Deferred income taxes (non-current liabilities) (8,862 ) (10,505 ) $ 28,389 $ 18,331 Management believes, based on the Company’s history of taxable income and expectations for the future, that it is more likely than not that future taxable income will be sufficient to fully utilize the federal deferred tax assets at January 1, 2017. As of January 1, 2017, January 3, 2016, were reduced by approximately $5.0 $14.2 The Company’s effective tax rate was 31.6%, 31.5% 30.6% 2016, 2015 2014, 35% FISCAL YEAR 2016 2015 2014 (in thousands) Income taxes at U.S federal statutory rate $ 27,698 $ 37,018 $ 12,510 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax effect 1,861 3,003 57 Non-deductible business expenses 538 614 570 Non-deductible employee compensation 361 168 491 Tax effects of Company owned life insurance (199 ) 128 (395 ) Tax effects of undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 463 458 362 Foreign and U.S. tax effects attributable to foreign operations (3,963 ) (3,347 ) (3,021 ) Valuation allowance effect – State NOL (1,272 ) (3,797 ) 468 Federal tax credits (494 ) (352 ) 0 Other (19 ) (545 ) (108 ) Income tax expense $ 24,974 $ 33,348 $ 10,934 The Company does not provide for deferred U.S. income taxes on the undistributed earnings of its foreign subsidiaries that are considered to be indefinitely reinvested outside of the U.S. as determination of the amount of unrecognized deferred U.S. income tax liability related to the indefinitely reinvested earnings is not practicable because of the complexities associated with its hypothetical calculation. At January 1, 2017, $279 $5.9 may At January 1, 2017, $1.6 $0.2 $4.8 The Company’s federal income tax returns are subject to examination for the years 2003 2011 2006 As of January 1, 2017 January 3, 2016, $27.9 $28.3 $27.9 January 1, 2017 $18.3 January 1, 2017, $1.4 Management believes changes to our unrecognized tax benefits that are reasonably possible in the next 12 A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows: FISCAL YEAR 201 6 201 5 201 4 (in thousands) Balance at beginning of year $ 28,271 $ 27,301 $ 27,361 Increases related to tax positions taken during the current year 690 641 875 Increases related to tax positions taken during the prior years 148 1,230 1,157 Decreases related to tax positions taken during the prior years (695 ) (194 ) (697 ) Decreases related to settlements with taxing authorities 0 0 0 Decreases related to lapse of applicable statute of limitations (403 ) (367 ) (919 ) Changes due to foreign currency translation (123 ) ( 340 ) (476 ) Balance at end of year $ 27,888 $ 28,271 $ 27,301 |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 14 COMMITMENTS AND CONTINGENCIES The Company leases certain production, distribution and marketing facilities and equipment. At January 1, 2017, one FISCAL YEAR AMOUNT (in thousands) 2017 $ 36,763 2018 25,044 2019 15,505 2020 10,227 2021 8,106 Thereafter 24,260 Rental expense amounted to approximately $24.5 $24.4 $24.6 2016, 2015 2014, The Company is from time to time a party to routine litigation incidental to its business. Management does not believe that the resolution of any or all of such litigation will have a material adverse effect on the Company’s financial condition or results of operations. |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plans | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 15 EMPLOYEE BENEFIT PLANS Defined Contribution and Deferred Compensation Plans The Company has a 401(k) (“401(k) six 401(k) may, 401(k) $3.1 $2.9 $2.7 2016, 2015 2014, No 2016, 2015 2014. Under the Company’s nonqualified savings plans (“NSPs”), the Company provides eligible employees the opportunity to enter into agreements for the deferral of a specified percentage of their compensation, as defined in the NSPs. The NSPs call for Company matching contributions on a sliding scale based on the level of the employee’s contribution. The obligations of the Company under such agreements to pay the deferred compensation in the future in accordance with the terms of the NSPs are unsecured general obligations of the Company. Participants have no right, interest or claim in the assets of the Company, except as unsecured general creditors. The Company has established a rabbi trust to hold, invest and reinvest deferrals and contributions under the NSPs. If a change in control of the Company occurs, as defined in the NSPs, the Company will contribute an amount to the rabbi trust sufficient to pay the obligation owed to each participant. Deferred compensation in connection with the NSPs totaled $28.3 January 1, 2017. $25.3 January 1, 2017. Foreign Defined Benefit Plans The Company has trusteed defined benefit retirement plans which cover many of its European employees. The benefits are generally based on years of service and the employee’s average monthly compensation. Pension expense was $1.2 $2.1 $0.1 2016, 2015 2014, January 1, 2017, $19.4 $48.9 The tables presented below set forth the funded status of the Company’s significant foreign defined benefit plans and required disclosures in accordance with applicable accounting standards FISCAL YEAR 2016 2015 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 243,717 $ 275,762 Service cost 1,032 1,061 Interest cost 6,580 8,384 Benefits and expenses paid (8,551 ) (10,004 ) Actuarial loss (gain) 73,600 (13,591 ) Member contributions 225 239 Currency translation adjustment (38,790 ) (18,134 ) Benefit obligation, end of year $ 277,813 $ 243,717 FISCAL YEAR 2016 2015 (in thousands) Change in plan assets Plan assets, beginning of year $ 239,281 $ 261,026 Actual return on assets 59,364 753 Company contributions 4,990 5,001 Benefits paid (8,551 ) (10,004 ) Currency translation adjustment (36,719 ) (17,496 ) Plan assets, end of year $ 258,365 $ 239,280 Reconciliation to balance sheet Funded status benefit asset/(liability) $ (19,448 ) $ (4,437 ) Net amount recognized $ (19,448 ) $ (4,437 ) Amounts recognized in accumulated other comprehensive income (after tax) Unrecognized actuarial loss $ 49,547 $ 39,411 Unamortized prior service costs (311 ) (347 ) Total amount recognized $ 49,236 $ 39,064 The above disclosure represents the aggregation of information related to the Company’s two January 1, 2017 January 3, 2016, one January 1, 2017 January 3, 2016. END OF FISCAL YEAR 2016 2015 (in thousands) UK Plan Projected Benefit Obligation $ 171,172 $ 168,178 Accumulated Benefit Obligation 171,172 168,178 Plan Assets 153,132 167,360 Europe Plan Projected Benefit Obligation $ 106,641 $ 75,539 Accumulated Benefit Obligation 103,242 71,005 Plan Assets 105,233 71,920 FISCAL YEAR 2016 2015 2014 (in thousands) Components of net periodic benefit cost Service cost $ 1,032 $ 1,061 $ 705 Interest cost 6,580 8,384 10,563 Expected return on plan assets (7,553 ) (8,764 ) (11,904 ) Amortization of prior service cost 33 33 19 Recognized net actuarial (gains)/losses 1076 1,359 648 Net periodic benefit cost $ 1,168 $ 2,073 $ 31 The Company reconciles the components of net periodic pension expense by comparing the beginning balance of assets and the beginning projected obligation against the assumptions of asset return and interest costs. Any significant differences will be explained. There were no such differences in 2016. The increase in projected benefit obligation and plan assets in the Europe plan was primarily as a result of a decision by the company to include in the 2016 four $32.2 2016. 3” For 2017, $1.3 2016, $21.1 $21.8 $0.7 FISCAL YEAR 2016 2015 2014 Weighted average assumptions used to determine net periodic benefit cost Discount rate 2.7 % 3.0 % 4.0 % Expected return on plan assets 3.1 % 4.0 % 4.2 % Rate of compensation 2.0 % 2.0 % 2.0 % Weighted average assumptions used to determine benefit obligations Discount rate 2.3 % 3.4 % 3.2 % Rate of compensation 2.0 % 2.0 % 2.0 % The expected long-term rate of return on plan assets assumption is based on weighted average expected returns for each asset class. Expected returns reflect a combination of historical performance analysis and the forward-looking views of the financial markets, and include input from actuaries, investment service firms and investment managers. The Company’s foreign defined benefit plans’ fair value of plan assets were in excess of the accumulated benefit obligations. The projected benefit obligations, accumulated benefit obligations and fair value of these plans are as follows: FISCAL YEAR 2016 2015 (in thousands) Projected benefit obligation $ 277,813 $ 243,717 Accumulated benefit obligations 274,414 239,183 Fair value of plan assets 258,365 239,280 The investment objectives of the foreign defined benefit plans are to maximize the return on the investments without exceeding the limits of the prudent pension fund investment, to ensure that the assets would be sufficient to exceed minimum funding requirements, and to achieve a favorable return against the performance expectation based on historic and projected rates of return over the short term. The goal is to optimize the long-term return on plan assets at a moderate level of risk, by balancing higher-returning assets, such as equity securities, with less volatile assets, such as fixed income securities. The assets are managed by professional investment firms and performance is evaluated periodically against specific benchmarks. The plans’ net assets did not include the Company’s own stock at January 1, 2017 January 3, 2016. The Company’s actual weighted average asset allocations for 2016 2015, 2017, FISCAL YEAR 2017 2016 2015 Target Allocation Percentage of Plan Assets at Year End Asset Category: Equity Securities 40% - 50% 43 % 49 % Debt and Debt Securities 35% - 45% 36 % 41 % Other 10 - 20% 21 % 10 % 100% 100 % 100 % Fair Value Measurements of Plan Assets Accounting standards establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure estimated fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 3 three Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs to the valuation methodology include: ● quoted prices for similar assets in active markets; ● quoted prices for identical or similar assets in inactive markets; ● inputs other than quoted prices that are observable for the asset; and ● inputs that are derived principally or corroborated by observable data by correlation or other means. Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The following table sets forth by level within the fair value hierarchy the foreign defined benefit plans’ assets at fair value, as of January 1, 2017 January 3, 2016. Pension Plan Assets by Category as of January 1, 2017 Europe Plan UK Plan Total (in thousands) Level 1 $ 73,042 $ 80,048 $ 153,090 Level 2 0 50,364 50,364 Level 3 32,191 22,720 54,911 Total $ 105,233 $ 153,132 $ 258,365 Pension Plan Assets by Category as of January 3, 2016 Europe Plan UK Plan Total (in thousands) Level 1 $ 71,920 $ 93,846 $ 165,766 Level 2 0 59,228 59,228 Level 3 0 14,286 14,286 Total $ 71,920 $ 167,360 $ 239,280 The tables below detail the foreign defined benefit plans’ assets by asset allocation and fair value hierarchy: 2016 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 110,738 $ 0 $ 0 Debt and Debt Securities 37,175 36,378 19,224 Other (including cash) 5,177 13,986 35,687 $ 153,090 $ 50,364 $ 54,911 2015 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 117,889 $ 0 $ 0 Debt and Debt Securities 45,953 41,725 9,576 Other (including cash) 1,924 17,503 4,710 $ 165,766 $ 59,228 $ 14,286 With the exception of the $32.2 2016, 3 2016 2015 3 2016: 2016 (in thousands) Balance of level 3 assets, beginning of year $ 14,286 Interest cost 492 Benefits paid (606 ) Assets transferred in to Level 3 11,988 Actuarial gain (loss) 32,429 Translation adjustment (3,678 ) Ending Balance of level 3 assets $ 54,911 Actuarial gain (loss) includes the indexation asset of $32.2 During 2017, $3.0 FISCAL YEAR EXPECTED PAYMENTS (in thousands) 2017 $ 7,907 2018 8,134 2019 8,323 2020 8,532 2021 8,653 2022 - 2026 43,723 Domestic Defined Benefit Plan The Company maintains a domestic nonqualified salary continuation plan (“SCP”), which is designed to induce selected officers of the Company to remain in the employ of the Company by providing them with retirement, disability and death benefits in addition to those which they may 65 55) 15 10 10 one three The tables presented below set forth the required disclosures in accordance with applicable accounting standards, and amounts recognized in the consolidated financial statements related to the domestic SCP. FISCAL YEAR 2016 2015 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 25,860 $ 24,016 Service cost 440 594 Interest cost 1,269 1,113 Benefits paid (1,012 ) (847 ) Actuarial loss (gain) 3,143 984 Benefit obligation, end of year $ 29,700 $ 25,860 The amounts recognized in the consolidated balance sheets are as follows: 2016 2015 (in thousands) Current liabilities $ 1,890 $ 1,009 Non-current liabilities 27,810 24,850 29,700 $ 25,859 The components of the amounts in accumulated other comprehensive income, after tax, are as follows: 2016 2015 (in thousands) Unrecognized actuarial loss $ 5,626 $ 4,226 The accumulated benefit obligation related to the SCP was $29.7 $23.6 January 1, 2017 January 3, 2016, 2016 2015 2014 (in thousands, except for assumptions) Assumptions used to determine net periodic benefit cost Discount rate 4.25 % 4.0 % 4.5 % Rate of compensation 4.0 % 4.0 % 4.0 % Assumptions used to determine benefit obligations Discount rate 3.85 % 4.25 % 4.0 % Rate of compensation 4.0 % 4.0 % 4.0 % Components of net periodic benefit cost Service cost $ 440 $ 594 $ 500 Interest cost 1,269 1,113 1,072 Amortizations 811 522 291 Net periodic benefit cost $ 2,520 $ 2,229 $ 1,863 The changes in other comprehensive income during 2016 $1.4 $1.9 $0.5 For 2017, $0.4 During 2016, $1.0 FISCAL YEAR EXPECTED PAYMENTS (in thousands) 2017 $ 1,890 2018 2,029 2019 2,029 2020 2,029 2021 2,029 2022 - 2026 9,859 |
Note 16 - Enterprise-wide Discl
Note 16 - Enterprise-wide Disclosures | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 16 ENTERPRISE-WIDE DISCLOSURES Based on applicable accounting standards, the Company has determined that it has three three one While the Company operates as one Summary information by operating segment follows: AMERICAS EUROPE ASIA-PACIFIC TOTAL (in thousands) 2016 Net Sales $ 568,138 $ 241,463 $ 149,016 $ 958,617 Depreciation and amortization 14,639 5,698 8,729 29,066 Total assets 237,900 261,182 238,317 737,399 2015 Net Sales $ 593,163 $ 262,671 $ 146,029 $ 1,001,863 Depreciation and amortization 15,390 5,007 9,167 29,564 Total assets 223,085 249,241 175,940 648,266 2014 Net Sales $ 573,458 $ 276,845 $ 153,600 $ 1,003,903 Depreciation and amortization 14,719 4,803 9,412 28,934 A reconciliation of the Company’s total operating segment depreciation and amortization, and assets to the corresponding consolidated amounts follows: FISCAL YEAR ENDED 2016 2015 2014 (in thousands) DEPRECIATION AND AMORTIZATION Total segment depreciation and amortization $ 29,066 $ 29,564 $ 28,934 Corporate depreciation and amortization 1,566 1,239 1,743 Reported depreciation and amortization $ 30,632 $ 30,803 $ 30,677 ASSETS Total segment assets $ 737,399 $ 648,266 Corporate assets and eliminations 102,174 108,283 Reported total assets $ 839,573 $ 756,549 The Company has a large and diverse customer base, which includes numerous customers located in foreign countries. No single unaffiliated customer accounted for more than 10% three 2016, 2015 2014 48%, 48% 51%, one 10% FISCAL YEAR 2016 2015 2014 (in thousands) SALES TO UNAFFILIATED CUSTOMERS (1) United States $ 501,206 $ 520,375 $ 487,001 United Kingdom 58,266 72,445 83,182 Australia 78,141 76,600 79,922 Other foreign countries 321,004 332,443 353,798 Net sales $ 958,617 $ 1,001,863 $ 1,003,903 LONG-LIVED ASSETS (2) United States $ 79,365 $ 79,279 United Kingdom 8,122 10,653 Netherlands 43,907 42,808 Australia 44,209 47,557 China 9,675 11,733 Other foreign countries 19,230 19,459 Total long-lived assets $ 204,508 $ 211,489 (1) (2) |
Note 17 - Quarterly Data and Sh
Note 17 - Quarterly Data and Share Information (Unaudited) | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 17 QUARTERLY DATA AND SHARE INFORMATION (UNAUDITED) The following tables set forth, for the fiscal periods indicated, selected consolidated financial data and information regarding the market price per share of the Company’s Common Stock. The prices represent the reported high and low sale prices during the period presented. FISCAL YEAR 2016 FIRST QUARTER SECOND QUARTER THIRD QUARTER FOURTH QUARTER (1) (in thousands, except per share data) Net sales $ 222,554 $ 248,207 $ 248,349 $ 239,507 Gross profit 86,632 99,126 92,918 89,968 Net income 12,894 20,657 15,904 4,707 Basic income per share $ 0.20 $ 0.32 $ 0.25 $ 0.07 Diluted income per share $ 0.20 $ 0.32 $ 0.25 $ 0.07 Share prices High $ 18.99 $ 18.71 $ 18.45 $ 19.10 Low $ 13.70 $ 14.56 $ 15.02 $ 14.59 (1) fourth 2016 $19.8 FISCAL YEAR 2015 FIRST QUARTER SECOND QUARTER THIRD QUARTER FOURTH QUARTER (in thousands, except per share data) Net sales $ 236,904 $ 263,637 $ 254,686 $ 246,636 Gross profit 85,432 101,252 97,966 98,239 Net income 12,322 21,722 20,127 18,247 Basic income per share $ 0.19 $ 0.33 $ 0.31 $ 0.28 Diluted income per share $ 0.19 $ 0.33 $ 0.31 $ 0.28 Share prices High $ 21.38 $ 25.59 $ 27.17 $ 24.44 Low $ 15.13 $ 19.86 $ 22.13 $ 17.89 |
Note 18 - Items Reclassified Fr
Note 18 - Items Reclassified From Other Comprehensive Income | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | NOTE 18 ITEMS RECLASSIFIED FROM OTHER COMPREHENSIVE INCOME During 2016, $1.9 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts and Reserves | 12 Months Ended |
Jan. 01, 2017 | |
Notes to Financial Statements | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | I NTERFACE, INC. AND SUBSIDIARIES SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS AND RESERVES COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS COLUMN D DEDUCTIONS (DESCRIBE) (B) COLUMN E BALANCE, AT END OF YEAR (in thousands) Allowance for Doubtful Accounts: Year Ended: January 1, 2017 $ 4,479 $ (243 ) $ 0 $ 456 $ 3,780 January 3, 2016 5,896 212 0 1,629 4,479 December 28, 2014 7,646 (730 ) 0 1,020 5,896 ______________ (A) Includes changes in foreign currency exchange rates. (B) Write off of bad debt, and recovering of previously provided for amounts. COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS(B) COLUMN D DEDUCTIONS (DESCRIBE) (C) COLUMN E BALANCE, AT END OF YEAR (in thousands) Restructuring Reserve: Year Ended: January 1, 2017 $ 104 $ 11,769 $ 8,019 $ 1,582 $ 10,291 January 3, 2016 7,179 (481 ) 0 6,594 104 December 28, 2014 519 9,315 2,717 2,655 7,179 ______________ (A) Includes changes in foreign currency exchange rates. (B) Direct reduction of asset carrying value, not included in restructuring reserve. (C) Cash payments. COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS COLUMN D DEDUCTIONS (DESCRIBE) (B) COLUMN E BALANCE, AT END OF YEAR (in thousands) Warranty and Sales Allowances Reserves: Year ended: January 1, 2017 $ 4,759 $ 3,149 $ 0 $ 2,379 $ 5,529 January 3, 2016 3,954 2,584 0 1,779 4,759 December 28, 2014 4,935 457 0 1,438 3,954 ______________ (A) Includes changes in foreign currency exchange rates. (B) Represents credits and costs applied against reserve and adjustments to reflect actual exposure. COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS COLUMN D DEDUCTIONS (DESCRIBE) (B) COLUMN E BALANCE, AT END OF YEAR (in thousands) Inventory Reserves: Year ended: January 1, 2017 $ 15,467 $ 4,736 $ 0 $ 2,578 $ 17,625 January 3, 2016 14,784 3,758 0 3,075 15,467 December 28, 2014 13,416 4,819 0 3,451 14,784 ______________ (A) Includes changes in foreign currency exchange rates. (B) Represents costs applied against reserve and adjustments to reflect actual exposure. (All other Schedules for which provision is made in the applicable accounting requirements of the Securities and Exchange Commission are omitted because they are either not applicable or the required information is shown in the Company's Consolidated Financial Statements or the Notes thereto.) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 01, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All of our subsidiaries are wholly-owned, and we are not a party to any joint venture, partnership or other variable interest entity that would potentially qualify for consolidation. All material intercompany accounts and transactions are eliminated. Investments in which the Company does not have the ability to exercise significant influence are carried at fair value. The Company monitors investments for other than temporary declines in value and makes reductions in carrying values when appropriate. As of January 1, 2017 January 3, 2016, |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Examples include provisions for returns, bad debts, product claims reserves, rebates, inventory obsolescence and the length of product life cycles, accruals associated with restructuring activities, income tax exposures and valuation allowances, environmental liabilities, and the carrying value of goodwill and property and equipment. Actual results could vary from these estimates. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue is recognized when the following criteria are met: persuasive evidence of an agreement exists, delivery has occurred or services have been rendered, price to the buyer is fixed and determinable, and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title and assumes the risks and rewards of ownership, which is generally on the date of shipment. Provisions for discounts, sales returns and allowances are estimated using historical experience, current economic trends, and the Company’s quality performance. The related provision is recorded as a reduction of sales and cost of sales in the same period that the revenue is recognized. Material differences may Shipping and handling fees billed to customers are classified in net sales in the consolidated statements of operations. Shipping and handling costs incurred are classified in cost of sales in the consolidated statements of operations. |
Research, Development, and Computer Software, Policy [Policy Text Block] | Research and Development Research and development costs are expensed as incurred and are included in the selling, general and administrative expense caption in the consolidated statements of operations. Research and development expense was $14.3 $14.5 $13.9 2016, 2015 2014, |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents and Short-Term Investments Highly liquid investments with insignificant interest rate risk and with original maturities of three three one not January 1, 2017 January 3, 2016. Cash payments for interest amounted to approximately $5.5 $4.8 $21.0 2016, 2015, 2014, $12.8 $7.2 $7.5 2016, 2015 2014, 2016, 2015 2014, $0.2 $3.1 $5.0 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are carried at the lower of cost (standards approximating the first first The Company writes down inventories for the difference between the carrying value of the inventories and their estimated net realizable value. If actual market conditions are less favorable than those projected by management, additional write-downs may Management estimates its reserves for inventory obsolescence by continuously examining its inventories to determine if there are indicators that carrying values exceed net realizable values. Experience has shown that significant indicators that could require the need for additional inventory write-downs are the age of the inventory, the length of its product life cycles, anticipated demand for the Company’s products, and current economic conditions. While management believes that adequate write-downs for inventory obsolescence have been made in the consolidated financial statements, consumer tastes and preferences will continue to change and the Company could experience additional inventory write-downs in the future. |
Accrued Sales Rebates [Policy Text Block] | Rebates The Company has agreements to receive cash consideration from certain of its vendors, including rebates and cooperative marketing reimbursements. The amounts received from its vendors are generally presumed to be a reduction of the prices the Company pays for their products and, therefore, such amounts are reflected as either a reduction of cost of sales in the accompanying consolidated statements of operations, or, if the product inventory is still on hand at the reporting date, it is reflected as a reduction of “Inventories” on the accompanying consolidated balance sheets. Vendor rebates are typically dependent upon reaching minimum purchase thresholds. The Company evaluates the likelihood of reaching purchase thresholds using past experience and current year forecasts. When rebates can be reasonably estimated and receipt becomes probable, the Company records a portion of the rebate as the Company makes progress towards the purchase threshold. When the Company receives direct reimbursements for costs incurred in marketing the vendor’s product or service, the amount received is recorded as an offset to selling, general and administrative expenses in the accompanying consolidated statements of operations. |
Discontinued Operations, Policy [Policy Text Block] | Assets and Liabilities of Businesses Held for Sale The Company considers businesses to be held for sale when the Board or management, having the relevant authority to do so, approves and commits to a formal plan to actively market a business for sale and the sale is considered probable. Upon designation as held for sale, the carrying value of the assets of the business are recorded at the lower of their carrying value or their estimated fair value, less costs to sell. The Company ceases to record depreciation expense at that time. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment and Long-Lived Assets Property and equipment are carried at cost. Depreciation is computed using the straight-line method over the following estimated useful lives: buildings and improvements – ten forty three twelve $0.5 $0.3 $0.8 2016, 2015 2014, $30.1 $30.4 $30.3 2016, 2015 2014, Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets Goodwill is the excess of the purchase price over the fair value of net assets acquired in business combinations accounted for as acquisitions. Accumulated amortization amounted to approximately $77.3 January 1, 2017 January 3, 2016, $212.6 January 1, 2017 January 3, 2016. As of January 1, 2017 January 3, 2016, $61.2 $63.9 $0.9 $4.8 January 1, 2017 January 3, 2016, 2016, 2015 2014 $0.5 $0.3 $0.3 The Company capitalizes patent defense costs when it determines that a successful defense is probable. Any patent defense costs are amortized over the remaining useful life of the patent. During 2016 $3.4 TacTiles® During the fourth 2016, 2015 2014, third one no Each of the Company’s reporting units maintained fair values in excess of their respective carrying values as of the measurement date, and therefore no impairment was indicated during the impairment testing. As of January 1, 2017, 10% The changes in the carrying amounts of goodwill for the year ended January 1, 2017 BALANCE JANUARY 3, ACQUISITIONS IMPAIRMENT FOREIGN CURRENCY TRANSLATION BALANCE JANUARY 1, (in thousands) $ 63,890 $ 0 $ 0 $ (2,672 ) $ 61,218 |
Standard Product Warranty, Policy [Policy Text Block] | Product Warranties The Company typically provides limited warranties with respect to certain attributes of its carpet products (for example, warranties regarding excessive surface wear, edge ravel and static electricity) for periods ranging from ten twenty one The Company records a provision related to warranty costs based on historical experience and periodically adjusts these provisions to reflect changes in actual experience. Warranty and sales allowance reserves amounted to $5.5 $4.8 January 1, 2017 January 3, 2016, |
Income Tax, Policy [Policy Text Block] | Taxes on Income The Company accounts for income taxes under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than enactments of changes in tax laws or rates. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized as income or expense in the period that includes the enactment date. The Company records a valuation allowance to reduce its deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will expire before realization of the benefit or that future deductibility is not probable. The ultimate realization of the deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character in the future. This requires us to use estimates and make assumptions regarding significant future events such as the taxability of entities operating in the various taxing jurisdictions. The Company does not record taxes collected from customers and remitted to governmental authorities on a gross basis. For uncertain tax positions, the Company applies the provisions of relevant authoritative guidance, which requires application of a “more likely than not” threshold to the recognition and derecognition of tax positions. The Company’s ongoing assessments of the more likely than not outcomes of tax authority examinations and related tax positions require significant judgment and can increase or decrease the Company’s effective tax rate as well as impact operating results. For further information, see the Note 13 |
Fair Value Measurement, Policy [Policy Text Block] | Fair Values of Financial Instruments Fair values of cash and cash equivalents and short-term debt approximate cost due to the short period of time to maturity. Fair values of debt are based on quoted market prices or pricing models using current market rates. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Translation of Foreign Currencies The financial position and results of operations of the Company’s foreign subsidiaries are measured generally using local currencies as the functional currency. Assets and liabilities of these subsidiaries are translated into U.S. dollars at the exchange rate in effect at each year-end. Income and expense items are translated at average exchange rates for the year. The resulting translation adjustments are recorded in the foreign currency translation adjustment account. In the event of a divestiture of a foreign subsidiary, the related foreign currency translation results are reversed from equity to income. Foreign currency exchange gains and losses are included in net income (loss). Foreign exchange translation losses were $19.0 $32.6 $28.4 2016, 2015 2014, |
Earnings Per Share, Policy [Policy Text Block] | Income (Loss) Per Share Basic income (loss) per share is computed based on the average number of common shares outstanding. Diluted income (loss) per share reflects the increase in average common shares outstanding that would result from the assumed exercise of outstanding stock options, calculated using the treasury stock method. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation As of fiscal year 2016, 10 The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option pricing model. However, there were no 2016, 2015 2014. The Company recognizes expense related to its restricted stock and performance share grants based on the grant date fair value of the stock issued, as determined by its market price at date of grant. |
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments Accounting standards require a company to recognize all derivatives on the balance sheet at fair value. Derivatives that do not meet the criteria of an accounting hedge must be adjusted to fair value through income. If the derivative is a fair value hedge, changes in the fair value of the hedged assets, liabilities or firm commitments are recognized through earnings. If the derivative is a cash flow hedge, the effective portion of changes in the fair value of the derivative are recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. As of January 1, 2017 January 3, 2016, |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pension Benefits |
Environmental Costs, Policy [Policy Text Block] | Environmental Remediation The Company provides for remediation costs and penalties when the responsibility to remediate is probable and the amount of associated costs is reasonably determinable. Remediation liabilities are accrued based on estimates of known environmental exposures and are discounted in certain instances. The Company regularly monitors the progress of environmental remediation. Should studies indicate that the cost of remediation is to be more than previously estimated, an additional accrual would be recorded in the period in which such determination is made. As of January 1, 2017 January 3, 2016, no |
Receivables, Policy [Policy Text Block] | Allowances for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from the inability of customers to make required payments. Estimating this amount requires the Company to analyze the financial strengths of its customers. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may may January 1, 2017 January 3, 2016, $3.8 $4.5 |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior period amounts have been reclassified to conform to current year financial statement presentation. These reclassifications had no effect on reported income, comprehensive income, cash flows, total assets or shareholders’ equity as previously reported. |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year The Company’s fiscal year is the 52 53 December 31. “2016,” “2015,” “2014,” January 1, 2017, January 3, 2016 December 28, 2014, 2015 53 2016 2014 52 |
Note 1 - Summary of Significa26
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | BALANCE JANUARY 3, ACQUISITIONS IMPAIRMENT FOREIGN CURRENCY TRANSLATION BALANCE JANUARY 1, (in thousands) $ 63,890 $ 0 $ 0 $ (2,672 ) $ 61,218 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | END OF FISCAL YEAR 2016 2015 (in thousands) Finished goods $ 104,742 $ 101,697 Work-in-process 8,711 9,865 Raw materials 42,630 49,612 $ 156,083 $ 161,174 |
Note 6 - Property and Equipme28
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | END OF FISCAL YEAR 2016 2015 (in thousands) Land $ 16,063 $ 16,501 Buildings 121,216 125,568 Equipment 350,539 342,986 487,818 485,055 Accumulated depreciation (283,310 ) (273,566 ) $ 204,508 $ 211,489 |
Note 7 - Accrued Expenses (Tabl
Note 7 - Accrued Expenses (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | END OF FISCAL YEAR 2016 2015 (in thousands) Compensation $ 58,927 $ 62,435 Interest 114 442 Restructuring 10,291 104 Taxes 11,467 9,299 Accrued purchases 3,101 4,104 Warranty and sales allowances 5,529 4,759 Other 9,274 7,790 $ 98,703 $ 88,933 |
Note 8 - Borrowings (Tables)
Note 8 - Borrowings (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | FISCAL YEAR AMOUNT (in thousands) 2017 $ 15,000 2018 15,000 2019 240,347 2020 0 2021 0 Thereafter 0 $ 270,347 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION (in thousands) Balance, at December 29, 2013 66,311 $ 6,631 $ 374,597 $ 24,226 $ (34,082 ) $ (30,585 ) Net income 0 0 0 24,808 0 0 Stock issuances under employee option plans 55 5 381 0 0 0 Other issuances of common stock 489 49 10,361 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (10,410 ) 0 0 0 Cash dividends paid 0 0 0 (9,297 ) 0 0 Forfeitures and compensation expense related to stock awards (387 ) (38 ) 1,293 0 0 0 Share repurchases (500 ) (50 ) (7,619 ) 0 0 0 Pension liability adjustment 0 0 0 0 (15,280 ) 0 Foreign currency translation adjustment 0 0 0 0 0 (28,351 ) Other 0 0 0 0 0 0 Balance, at December 28, 2014 65,968 $ 6,597 $ 368,603 $ 39,737 $ (49,362 ) $ (58,936 ) SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT (in thousands) Balance, at December 28, 2014 65,968 $ 6,597 $ 368,603 $ 39,737 $ (49,362 ) $ (58,936 ) Net income 0 0 0 72,418 0 0 Stock issuances under employee option plans 39 4 355 0 0 0 Other issuances of common stock 597 59 9,746 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (9,806 ) 0 0 0 Cash dividends paid 0 0 0 (11,885 ) 0 0 Forfeitures and compensation expense related to stock awards (253 ) (25 ) 14,670 0 0 0 Share repurchases (650 ) (65 ) (13,241 ) 0 0 0 Pension liability adjustment 0 0 0 0 6,072 0 Foreign currency translation adjustment 0 0 0 0 0 (32,575 ) Other 0 0 0 0 0 0 Balance, at January 3, 2016 65,701 $ 6,570 $ 370,327 $ 100,270 $ (43,290 ) $ (91,511 ) SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT (in thousands) Balance, at January 3, 2016 65,701 $ 6,570 $ 370,327 $ 100,270 $ (43,290 ) $ (91,511 ) Net income 0 0 0 54,162 0 0 Stock issuances under employee plans 17 2 251 0 0 0 Other issuances of common stock 277 28 4,726 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (4,754 ) 0 0 0 Cash dividends paid 0 0 0 (14,285 ) 0 0 Forfeitures and compensation expense related to stock awards (579 ) (58 ) 979 0 0 0 Share Repurchases (1,178 ) (118 ) (18,378 ) 0 0 0 Pension liability adjustment 0 0 0 0 (11,572 ) 0 Foreign currency translation adjustment 0 0 0 0 0 (19,011 ) Windfall tax benefit - share-based payment awards 0 0 6,300 0 0 0 Other 0 0 0 91 0 0 Balance, at January 1, 2017 64,238 $ 6,424 $ 359,451 $ 140,238 $ (54,862 ) $ (110,522 ) |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted Average Exercise Price Outstanding at January 3, 2016 87,500 $ 8.75 Granted 0 0 Exercised 0 0 Forfeited or cancelled 0 0 Outstanding at January 1, 2017 (a) 87,500 $ 8.75 Exercisable at January 1, 2017 (b) 87,500 $ 8.75 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding at January 1, 2017 Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable at January 1, Weighted Average Exercise Price $4.01 – $5.00 40,000 2.0 $ 4.31 40,000 $ 4.31 $12.00 – $14.00 47,500 3.7 12.49 47,500 12.49 87,500 2.9 $ 8.75 87,500 $ 8.75 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value Outstanding at January 3, 2016 1,470,000 $ 17.92 Granted 277,000 17.32 Vested 1,009,500 18.46 Forfeited or cancelled 232,500 16.73 Outstanding at January 1, 2017 505,000 $ 17.05 |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Performance Shares Weighted Average Grant Date Fair Value Outstanding at January 3, 2016 0 $ 0 Granted 444,000 17.21 Vested 17,000 17.22 Forfeited or canceled 58,000 17.22 Outstanding at January 1, 2017 369,000 $ 17.20 |
Note 11 - Income (Loss) Per S32
Note 11 - Income (Loss) Per Share (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Distributed And Undistributed Earnings [Table Text Block] | Fiscal Year 2016 2015 2014 Earnings per share: Basic earnings per share Distributed earnings $ 0.22 $ 0.18 $ 0.14 Undistributed earnings 0.61 0.92 0.23 $ 0.83 $ 1.10 $ 0.37 Diluted earnings per share Distributed earnings $ 0.22 $ 0.18 $ 0.14 Undistributed earnings 0.61 0.92 0.23 $ 0.83 $ 1.10 $ 0.37 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Fiscal Year 201 6 2015 2014 (in millions) Net income $ 0.4 $ 1.6 $ 0.5 Fiscal Year 2016 2015 2014 (in thousands) Weighted Average Shares Outstanding 64,593 64,557 64,998 Participating Securities 505 1,470 1,391 Shares for Basic Earnings Per Share 65,098 66,027 66,389 Dilutive Effect of Stock Options 38 48 59 Shares for Diluted Earnings Per Share 65,136 66,075 66,448 |
Note 12 - Restructuring Charg33
Note 12 - Restructuring Charges (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Total Restructuring Charge Costs Incurred in 2016 Balance at Jan. 1, 2017 (in thousands) Workforce Reduction $ 10,058 $ 1,451 $ 8,607 Asset Impairment 8,019 8,019 0 Lease Exit Costs 1,711 27 1,684 |
Note 13 - Taxes on Income (Tabl
Note 13 - Taxes on Income (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | FISCAL YEAR 2016 2015 2014 (in thousands) Current expense/(benefit): Federal $ 6,886 $ 1,524 $ 224 Foreign 12,934 9,279 5,555 State 1,633 1,403 712 21,453 12,206 6,491 Deferred expense/(benefit): Federal 6,186 19,971 3,856 Foreign (1,937 ) 3,795 493 State (728 ) (2,624 ) 94 3,521 21,142 4,443 $ 24,974 $ 33,348 $ 10,934 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | FISCAL YEAR 2016 2015 2014 (in thousands) U.S. operations $ 38,357 $ 58,318 $ 10,345 Foreign operations 40,779 47,448 25,397 $ 79,136 $ 105,766 $ 35,742 |
Schedule Of Components Of Net Deferred Tax Assets [Table Text Block] | 2016 2015 ASSETS LIABILITIES ASSETS LIABILITIES (in thousands) Basis differences of property and equipment $ 0 $ 14,419 $ 0 $ 16,254 Basis difference of intangible assets 978 0 0 368 Foreign currency 0 3,216 0 5,375 Net operating loss carryforwards 3,627 0 5,575 0 Valuation allowances on net operating loss carryforwards (2,500 ) 0 (4,457 ) 0 Federal tax credits 5,711 0 4,580 0 Deferred compensation 26,546 0 26,352 0 Basis difference of inventory 4,009 0 2,390 0 Basis difference of prepaids, accruals and reserves 6,273 0 6,556 0 Pensions 3,435 0 1,075 0 Undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 0 1,704 0 1,226 Basis difference of other assets and liabilities 0 351 0 517 $ 48,079 $ 19,690 $ 42,071 $ 23,740 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | FISCAL YEAR 2016 2015 (in thousands) Deferred income taxes (current asset) $ 10,030 $ 8,726 Deferred tax asset (non-current asset) 27,221 20,110 Deferred income taxes (non-current liabilities) (8,862 ) (10,505 ) $ 28,389 $ 18,331 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | FISCAL YEAR 2016 2015 2014 (in thousands) Income taxes at U.S federal statutory rate $ 27,698 $ 37,018 $ 12,510 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax effect 1,861 3,003 57 Non-deductible business expenses 538 614 570 Non-deductible employee compensation 361 168 491 Tax effects of Company owned life insurance (199 ) 128 (395 ) Tax effects of undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 463 458 362 Foreign and U.S. tax effects attributable to foreign operations (3,963 ) (3,347 ) (3,021 ) Valuation allowance effect – State NOL (1,272 ) (3,797 ) 468 Federal tax credits (494 ) (352 ) 0 Other (19 ) (545 ) (108 ) Income tax expense $ 24,974 $ 33,348 $ 10,934 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | FISCAL YEAR 201 6 201 5 201 4 (in thousands) Balance at beginning of year $ 28,271 $ 27,301 $ 27,361 Increases related to tax positions taken during the current year 690 641 875 Increases related to tax positions taken during the prior years 148 1,230 1,157 Decreases related to tax positions taken during the prior years (695 ) (194 ) (697 ) Decreases related to settlements with taxing authorities 0 0 0 Decreases related to lapse of applicable statute of limitations (403 ) (367 ) (919 ) Changes due to foreign currency translation (123 ) ( 340 ) (476 ) Balance at end of year $ 27,888 $ 28,271 $ 27,301 |
Note 14 - Commitments and Con35
Note 14 - Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | FISCAL YEAR AMOUNT (in thousands) 2017 $ 36,763 2018 25,044 2019 15,505 2020 10,227 2021 8,106 Thereafter 24,260 |
Note 15 - Employee Benefit Pl36
Note 15 - Employee Benefit Plans (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Net Funded Status [Table Text Block] | FISCAL YEAR 2016 2015 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 243,717 $ 275,762 Service cost 1,032 1,061 Interest cost 6,580 8,384 Benefits and expenses paid (8,551 ) (10,004 ) Actuarial loss (gain) 73,600 (13,591 ) Member contributions 225 239 Currency translation adjustment (38,790 ) (18,134 ) Benefit obligation, end of year $ 277,813 $ 243,717 FISCAL YEAR 2016 2015 (in thousands) Change in plan assets Plan assets, beginning of year $ 239,281 $ 261,026 Actual return on assets 59,364 753 Company contributions 4,990 5,001 Benefits paid (8,551 ) (10,004 ) Currency translation adjustment (36,719 ) (17,496 ) Plan assets, end of year $ 258,365 $ 239,280 Reconciliation to balance sheet Funded status benefit asset/(liability) $ (19,448 ) $ (4,437 ) Net amount recognized $ (19,448 ) $ (4,437 ) Amounts recognized in accumulated other comprehensive income (after tax) Unrecognized actuarial loss $ 49,547 $ 39,411 Unamortized prior service costs (311 ) (347 ) Total amount recognized $ 49,236 $ 39,064 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | END OF FISCAL YEAR 2016 2015 (in thousands) UK Plan Projected Benefit Obligation $ 171,172 $ 168,178 Accumulated Benefit Obligation 171,172 168,178 Plan Assets 153,132 167,360 Europe Plan Projected Benefit Obligation $ 106,641 $ 75,539 Accumulated Benefit Obligation 103,242 71,005 Plan Assets 105,233 71,920 |
Schedule of Net Benefit Costs [Table Text Block] | FISCAL YEAR 2016 2015 2014 (in thousands) Components of net periodic benefit cost Service cost $ 1,032 $ 1,061 $ 705 Interest cost 6,580 8,384 10,563 Expected return on plan assets (7,553 ) (8,764 ) (11,904 ) Amortization of prior service cost 33 33 19 Recognized net actuarial (gains)/losses 1076 1,359 648 Net periodic benefit cost $ 1,168 $ 2,073 $ 31 |
Schedule of Assumptions Used [Table Text Block] | FISCAL YEAR 2016 2015 2014 Weighted average assumptions used to determine net periodic benefit cost Discount rate 2.7 % 3.0 % 4.0 % Expected return on plan assets 3.1 % 4.0 % 4.2 % Rate of compensation 2.0 % 2.0 % 2.0 % Weighted average assumptions used to determine benefit obligations Discount rate 2.3 % 3.4 % 3.2 % Rate of compensation 2.0 % 2.0 % 2.0 % 2016 2015 2014 (in thousands, except for assumptions) Assumptions used to determine net periodic benefit cost Discount rate 4.25 % 4.0 % 4.5 % Rate of compensation 4.0 % 4.0 % 4.0 % Assumptions used to determine benefit obligations Discount rate 3.85 % 4.25 % 4.0 % Rate of compensation 4.0 % 4.0 % 4.0 % Components of net periodic benefit cost Service cost $ 440 $ 594 $ 500 Interest cost 1,269 1,113 1,072 Amortizations 811 522 291 Net periodic benefit cost $ 2,520 $ 2,229 $ 1,863 |
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | FISCAL YEAR 2016 2015 (in thousands) Projected benefit obligation $ 277,813 $ 243,717 Accumulated benefit obligations 274,414 239,183 Fair value of plan assets 258,365 239,280 |
Schedule of Allocation of Plan Assets [Table Text Block] | FISCAL YEAR 2017 2016 2015 Target Allocation Percentage of Plan Assets at Year End Asset Category: Equity Securities 40% - 50% 43 % 49 % Debt and Debt Securities 35% - 45% 36 % 41 % Other 10 - 20% 21 % 10 % 100% 100 % 100 % |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Pension Plan Assets by Category as of January 1, 2017 Europe Plan UK Plan Total (in thousands) Level 1 $ 73,042 $ 80,048 $ 153,090 Level 2 0 50,364 50,364 Level 3 32,191 22,720 54,911 Total $ 105,233 $ 153,132 $ 258,365 Pension Plan Assets by Category as of January 3, 2016 Europe Plan UK Plan Total (in thousands) Level 1 $ 71,920 $ 93,846 $ 165,766 Level 2 0 59,228 59,228 Level 3 0 14,286 14,286 Total $ 71,920 $ 167,360 $ 239,280 |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | 2016 2015 (in thousands) Current liabilities $ 1,890 $ 1,009 Non-current liabilities 27,810 24,850 29,700 $ 25,859 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | 2016 2015 (in thousands) Unrecognized actuarial loss $ 5,626 $ 4,226 |
Domestic SCP [Member] | |
Notes Tables | |
Schedule of Expected Benefit Payments [Table Text Block] | FISCAL YEAR EXPECTED PAYMENTS (in thousands) 2017 $ 1,890 2018 2,029 2019 2,029 2020 2,029 2021 2,029 2022 - 2026 9,859 |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] | FISCAL YEAR 2016 2015 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 25,860 $ 24,016 Service cost 440 594 Interest cost 1,269 1,113 Benefits paid (1,012 ) (847 ) Actuarial loss (gain) 3,143 984 Benefit obligation, end of year $ 29,700 $ 25,860 |
Foreign Defined Benefit Plan [Member] | |
Notes Tables | |
Schedule of Expected Benefit Payments [Table Text Block] | FISCAL YEAR EXPECTED PAYMENTS (in thousands) 2017 $ 7,907 2018 8,134 2019 8,323 2020 8,532 2021 8,653 2022 - 2026 43,723 |
Uk Plan [Member] | |
Notes Tables | |
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | 2016 (in thousands) Balance of level 3 assets, beginning of year $ 14,286 Interest cost 492 Benefits paid (606 ) Assets transferred in to Level 3 11,988 Actuarial gain (loss) 32,429 Translation adjustment (3,678 ) Ending Balance of level 3 assets $ 54,911 |
Foreign Pension Plan [Member] | |
Notes Tables | |
Schedule of Allocation of Plan Assets [Table Text Block] | 2016 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 110,738 $ 0 $ 0 Debt and Debt Securities 37,175 36,378 19,224 Other (including cash) 5,177 13,986 35,687 $ 153,090 $ 50,364 $ 54,911 2015 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 117,889 $ 0 $ 0 Debt and Debt Securities 45,953 41,725 9,576 Other (including cash) 1,924 17,503 4,710 $ 165,766 $ 59,228 $ 14,286 |
Note 16 - Enterprise-wide Dis37
Note 16 - Enterprise-wide Disclosures (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | AMERICAS EUROPE ASIA-PACIFIC TOTAL (in thousands) 2016 Net Sales $ 568,138 $ 241,463 $ 149,016 $ 958,617 Depreciation and amortization 14,639 5,698 8,729 29,066 Total assets 237,900 261,182 238,317 737,399 2015 Net Sales $ 593,163 $ 262,671 $ 146,029 $ 1,001,863 Depreciation and amortization 15,390 5,007 9,167 29,564 Total assets 223,085 249,241 175,940 648,266 2014 Net Sales $ 573,458 $ 276,845 $ 153,600 $ 1,003,903 Depreciation and amortization 14,719 4,803 9,412 28,934 |
Reconciliation of Depreciation, Amortization, and Assets from Segments to Consolidated [Table Text Block] | FISCAL YEAR ENDED 2016 2015 2014 (in thousands) DEPRECIATION AND AMORTIZATION Total segment depreciation and amortization $ 29,066 $ 29,564 $ 28,934 Corporate depreciation and amortization 1,566 1,239 1,743 Reported depreciation and amortization $ 30,632 $ 30,803 $ 30,677 ASSETS Total segment assets $ 737,399 $ 648,266 Corporate assets and eliminations 102,174 108,283 Reported total assets $ 839,573 $ 756,549 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | FISCAL YEAR 2016 2015 2014 (in thousands) SALES TO UNAFFILIATED CUSTOMERS (1) United States $ 501,206 $ 520,375 $ 487,001 United Kingdom 58,266 72,445 83,182 Australia 78,141 76,600 79,922 Other foreign countries 321,004 332,443 353,798 Net sales $ 958,617 $ 1,001,863 $ 1,003,903 LONG-LIVED ASSETS (2) United States $ 79,365 $ 79,279 United Kingdom 8,122 10,653 Netherlands 43,907 42,808 Australia 44,209 47,557 China 9,675 11,733 Other foreign countries 19,230 19,459 Total long-lived assets $ 204,508 $ 211,489 |
Note 17 - Quarterly Data and 38
Note 17 - Quarterly Data and Share Information (Unaudited) (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | FISCAL YEAR 2016 FIRST QUARTER SECOND QUARTER THIRD QUARTER FOURTH QUARTER (1) (in thousands, except per share data) Net sales $ 222,554 $ 248,207 $ 248,349 $ 239,507 Gross profit 86,632 99,126 92,918 89,968 Net income 12,894 20,657 15,904 4,707 Basic income per share $ 0.20 $ 0.32 $ 0.25 $ 0.07 Diluted income per share $ 0.20 $ 0.32 $ 0.25 $ 0.07 Share prices High $ 18.99 $ 18.71 $ 18.45 $ 19.10 Low $ 13.70 $ 14.56 $ 15.02 $ 14.59 |
Schedule II - Valuation and Q39
Schedule II - Valuation and Qualifying Accounts and Reserves (Tables) | 12 Months Ended |
Jan. 01, 2017 | |
Notes Tables | |
Schedule of Valuation and Qualifying Accounts and Reserves [Table Text Block] | COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS COLUMN D DEDUCTIONS (DESCRIBE) (B) COLUMN E BALANCE, AT END OF YEAR (in thousands) Allowance for Doubtful Accounts: Year Ended: January 1, 2017 $ 4,479 $ (243 ) $ 0 $ 456 $ 3,780 January 3, 2016 5,896 212 0 1,629 4,479 December 28, 2014 7,646 (730 ) 0 1,020 5,896 COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS(B) COLUMN D DEDUCTIONS (DESCRIBE) (C) COLUMN E BALANCE, AT END OF YEAR (in thousands) Restructuring Reserve: Year Ended: January 1, 2017 $ 104 $ 11,769 $ 8,019 $ 1,582 $ 10,291 January 3, 2016 7,179 (481 ) 0 6,594 104 December 28, 2014 519 9,315 2,717 2,655 7,179 COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS COLUMN D DEDUCTIONS (DESCRIBE) (B) COLUMN E BALANCE, AT END OF YEAR (in thousands) Warranty and Sales Allowances Reserves: Year ended: January 1, 2017 $ 4,759 $ 3,149 $ 0 $ 2,379 $ 5,529 January 3, 2016 3,954 2,584 0 1,779 4,759 December 28, 2014 4,935 457 0 1,438 3,954 COLUMN A BALANCE, AT BEGINNING OF YEAR COLUMN B CHARGED TO COSTS AND EXPENSES (A) COLUMN C CHARGED TO OTHER ACCOUNTS COLUMN D DEDUCTIONS (DESCRIBE) (B) COLUMN E BALANCE, AT END OF YEAR (in thousands) Inventory Reserves: Year ended: January 1, 2017 $ 15,467 $ 4,736 $ 0 $ 2,578 $ 17,625 January 3, 2016 14,784 3,758 0 3,075 15,467 December 28, 2014 13,416 4,819 0 3,451 14,784 |
Note 1 - Summary of Significa40
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Research and Development Expense | $ 14,300 | $ 14,500 | $ 13,900 |
Accrual for Environmental Loss Contingencies | 0 | 0 | |
Interest Paid | 5,500 | 4,800 | 21,000 |
Income Taxes Paid | 12,800 | 7,200 | 7,500 |
Proceeds from Income Tax Refunds | 200 | 3,100 | 5,000 |
Interest Costs Capitalized | 500 | 300 | 800 |
Depreciation | 30,100 | 30,400 | 30,300 |
Finite-Lived Intangible Assets, Accumulated Amortization | 77,300 | 77,300 | |
Goodwill, Impaired, Accumulated Impairment Loss | 212,600 | 212,600 | |
Goodwill | 61,218 | 63,890 | |
Other Intangible Assets, Net | 900 | 4,800 | |
Amortization of Intangible Assets | $ 500 | 300 | 300 |
Fair Value Estimates of Reporting Units, Threshold for No Goodwill Impairment, Percent of Decrease in Fair Value Estimates | 10.00% | ||
Product Warranty Period Lower Range | 10 years | ||
Product Warranty Period Upper Range | 20 years | ||
Workmanship Warranty Period | 1 year | ||
Warranty and Sales Allowances Payable, Current | $ 5,529 | 4,759 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | (19,000) | (32,600) | (28,400) |
Allowance for Doubtful Accounts Receivable | 3,800 | 4,500 | |
Cash Equivalents, at Carrying Value | 0 | 0 | |
Short-term Investments | 0 | 0 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 |
Restructuring and Asset Impairment Charges [Member] | |||
Capitalized Patent Defense Costs, Impairment | $ 3,400 | ||
Building and Building Improvements [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
Building and Building Improvements [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Furniture and Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Furniture and Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 12 years |
Note 1 - Summary of Significa41
Note 1 - Summary of Significant Accounting Policies - Changes in Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
BALANCE | $ 63,890 | ||
ACQUISITIONS | 0 | ||
IMPAIRMENT | 0 | $ 0 | $ 0 |
FOREIGN CURRENCY TRANSLATION | (2,672) | ||
BALANCE | $ 61,218 | $ 63,890 |
Note 2 - Recent Accounting Pr42
Note 2 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Apr. 02, 2017 | Jan. 01, 2017 | |
Scenario, Forecast [Member] | Reclassification of Tax Withholdings from Cash from Operating Activities to Cash from Financing Activities [Member] | April 3, 2016 [Member] | ||
Prior Period Reclassification Adjustment | $ 5 | |
Reclassification from Current Deferred Tax Assets to Noncurrent Deferred Tax Assets [Member] | Pro Forma [Member] | ||
Current Period Reclassification Adjustment | $ 10 | |
Reclassification from Current Deferred Tax Assets and Noncurrent Deferred Tax Liabilities to Noncurrent Deferred Tax Assets [Member] | Pro Forma [Member] | ||
Current Period Reclassification Adjustment | 6 | |
Rreclassification from Noncurrent Deferred Tax Liabilities to Noncurrent Deferred Tax Assets [Member] | Pro Forma [Member] | ||
Current Period Reclassification Adjustment | 4 | |
Reclassification from Tax Benefits and Tax Deficiencies in Additional Paid-in Capital to Deferred Tax Assets [Member] | Pro Forma [Member] | ||
Current Period Reclassification Adjustment | $ 5.8 |
Note 3 - Receivables (Details T
Note 3 - Receivables (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Allowance for Doubtful Accounts Receivable, Current | $ 3,800 | $ 4,500 |
Warranty and Sales Allowances Payable, Current | $ 5,529 | $ 4,759 |
Note 4 - Fair Value of Financ44
Note 4 - Fair Value of Financial Instruments (Details Textual) $ in Millions | Jan. 01, 2017USD ($) |
Company Owned Life Insurance Assets Fair Value Disclosure | $ 23.1 |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) - USD ($) $ in Millions | Jan. 01, 2017 | Jan. 03, 2016 |
Inventory Valuation Reserves | $ 17.6 | $ 15.5 |
Note 5 - Inventories - Schedule
Note 5 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Finished goods | $ 104,742 | $ 101,697 |
Work-in-process | 8,711 | 9,865 |
Raw materials | 42,630 | 49,612 |
Inventory, net | $ 156,083 | $ 161,174 |
Note 6 - Property and Equipme47
Note 6 - Property and Equipment (Details Textual) $ in Millions | Jan. 01, 2017USD ($) |
Estimated Cost To Complete Approved Projects And Current Construction In Progress | $ 61.9 |
Note 6 - Property and Equipme48
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Property and equipment, gross | $ 487,818 | $ 485,055 | ||
Accumulated depreciation | (283,310) | (273,566) | ||
[1] | 204,508 | 211,489 | ||
Land [Member] | ||||
Property and equipment, gross | 16,063 | 16,501 | ||
Building [Member] | ||||
Property and equipment, gross | 121,216 | 125,568 | ||
Equipment [Member] | ||||
Property and equipment, gross | $ 350,539 | $ 342,986 | ||
[1] | Long-lived assets include tangible assets physically located in foreign countries. |
Note 7 - Accrued Expenses (Deta
Note 7 - Accrued Expenses (Details Textual) - USD ($) $ in Millions | Jan. 01, 2017 | Jan. 03, 2016 |
Defined Benefit Pension Plan, Liabilities, Noncurrent | $ 47.3 | $ 29.3 |
Note 7 - Accrued Expenses - Sum
Note 7 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Compensation | $ 58,927 | $ 62,435 |
Interest | 114 | 442 |
Restructuring | 10,291 | 104 |
Taxes | 11,467 | 9,299 |
Accrued purchases | 3,101 | 4,104 |
Warranty and sales allowances | 5,529 | 4,759 |
Other | 9,274 | 7,790 |
$ 98,703 | $ 88,933 |
Note 8 - Borrowings (Details Te
Note 8 - Borrowings (Details Textual) $ in Thousands, € in Millions | Nov. 26, 2014USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2014USD ($) | Nov. 30, 2014USD ($) | Nov. 30, 2013USD ($) | Apr. 05, 2015 | Dec. 28, 2014USD ($) | Jan. 01, 2017USD ($) | Jan. 03, 2016USD ($) | Dec. 28, 2014USD ($) | Dec. 31, 2015USD ($) | Dec. 03, 2010USD ($) |
Threshold Of Other Indebtedness Triggering Default | $ 20,000 | ||||||||||||
Repayments of Senior Debt | 0 | $ 0 | $ 247,500 | ||||||||||
Debt Issuance Costs, Net | 1,400 | 1,900 | |||||||||||
Amortization of Debt Issuance Costs and Discounts | $ 500 | 500 | 3,800 | ||||||||||
Write off of Deferred Debt Issuance Cost | $ 2,800 | ||||||||||||
Senior Notes 7.625% [Member] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.625% | 7.625% | 7.625% | 7.625% | |||||||||
Repayments of Senior Debt | $ 220,000 | $ 220,000 | $ 27,500 | $ 27,500 | $ 27,500 | ||||||||
Debt Instrument, Redemption Price, Percentage | 103.813% | 103.813% | 103.00% | 103.00% | 103.00% | ||||||||
Long-term Debt, Gross | $ 275,000 | ||||||||||||
Amortization of Debt Discount (Premium) | $ (9,300) | ||||||||||||
Term Loan A [Member] | |||||||||||||
Initial Amortization Payment | $ 2,500 | ||||||||||||
Subsequent Amortization Payment | $ 3,750 | ||||||||||||
Syndicated Facility Agreement [Member] | |||||||||||||
Line of Credit Facility, Option to Increase Maximum Borrowing Capacity, Amount | $ 150,000 | ||||||||||||
Minimum Consolidated Interest Coverage Ratio | 2.25 | ||||||||||||
Maximum Percentage Of First Tier Subsidiary Stock Pledged As Collateral | 65.00% | ||||||||||||
Letters of Credit Outstanding, Amount | $ 2,900 | ||||||||||||
Long-term Debt, Weighted Average Interest Rate | 2.10% | ||||||||||||
Syndicated Facility Agreement [Member] | One of the Company's Foreign Subsidiaries [Member] | |||||||||||||
Proceeds from Lines of Credit | $ 63,500 | € 61 | |||||||||||
Syndicated Facility Agreement [Member] | Through And Including First Fiscal Quarter Ending December 28, 2014 [Member] | |||||||||||||
Maximum Consolidated Net Leverage Ratio | 4.5 | ||||||||||||
Syndicated Facility Agreement [Member] | From and Including the Fiscal Quarter Ending April 5, 2015 Through and Including the Fiscal Quarter Ending January 3, 2016 [Member] | |||||||||||||
Maximum Consolidated Net Leverage Ratio | 4 | ||||||||||||
Syndicated Facility Agreement [Member] | For Each Fiscal Quarter Thereafter [Member] | |||||||||||||
Maximum Consolidated Net Leverage Ratio | 3.75 | ||||||||||||
Syndicated Facility Agreement [Member] | Federal Funds Rate [Member] | |||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||||
Syndicated Facility Agreement [Member] | Minimum [Member] | |||||||||||||
Line of Credit Facility, Interest Rate During Period | 0.25% | ||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.20% | ||||||||||||
Syndicated Facility Agreement [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||||||||||||
Syndicated Facility Agreement [Member] | Maximum [Member] | |||||||||||||
Line of Credit Facility, Interest Rate During Period | 1.50% | ||||||||||||
Line of Credit Facility, Commitment Fee Percentage | 0.35% | ||||||||||||
Syndicated Facility Agreement [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||||||||||
Syndicated Facility Agreement [Member] | Term Loan A [Member] | |||||||||||||
Long-term Line of Credit | $ 185,000 | ||||||||||||
Syndicated Facility Agreement [Member] | Term Loan A [Member] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 200,000 | ||||||||||||
Syndicated Facility Agreement [Member] | Standby Letters of Credit [Member] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 40,000 | ||||||||||||
Syndicated Facility Agreement [Member] | Domestic, European and Australian [Member] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 240,000 | ||||||||||||
Syndicated Facility Agreement [Member] | THAILAND | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000 | ||||||||||||
Revolving Credit Facility [Member] | |||||||||||||
Long-term Line of Credit | 85,300 | ||||||||||||
Other Line Of Credit [Member] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 14,800 | ||||||||||||
Long-term Line of Credit | $ 0 | $ 0 | |||||||||||
Other Line Of Credit [Member] | Minimum [Member] | |||||||||||||
Line of Credit Facility, Interest Rate During Period | 2.50% | ||||||||||||
Other Line Of Credit [Member] | Maximum [Member] | |||||||||||||
Line of Credit Facility, Interest Rate During Period | 6.50% |
Note 8 - Borrowings - Aggregate
Note 8 - Borrowings - Aggregate Maturities of Borrowings (Details) $ in Thousands | Jan. 01, 2017USD ($) |
2,017 | $ 15,000 |
2,018 | 15,000 |
2,019 | 240,347 |
2,020 | 0 |
2,021 | 0 |
Thereafter | 0 |
$ 270,347 |
Note 9 - Preferred Stock (Detai
Note 9 - Preferred Stock (Details Textual) | 12 Months Ended | |
Jan. 01, 2017$ / sharesshares | Jan. 03, 2016shares | |
Preferred Stock, Shares Authorized | shares | 5,000,000 | |
Preferred Stock, Par or Stated Value Per Share | $ 1 | |
Preferred Stock, Shares Issued | shares | 0 | 0 |
Number of Purchase Rights | 1 | |
Percentage Of Acquisition Of Outstanding Common Stock Causing Dilution | 15.00% | |
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 1 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 90 | |
Minimum Preferential Dividend Per Share | $ 1 | |
Dividend Declared Rate Over Per Common Stock | 100 | |
Preferred Stock, Liquidation Preference Per Share | $ 1 | |
Dividends, Number of Quarterly Payments | 6 | |
Series B Preferred Stock [Member] | ||
Number Of Votes Per Share Entitled To Preferred Stock Holders | 100 |
Note 10 - Stockholders' Equit54
Note 10 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||||||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | Dec. 28, 2014 | Jul. 03, 2016 | Nov. 19, 2015 | May 31, 2015 | Oct. 07, 2014 | Mar. 05, 2012 | |
Common Stock, Shares Authorized | 120,000,000 | ||||||||
Common Stock, Par or Stated Value Per Share | $ 0.10 | ||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.22 | $ 0.18 | $ 0.14 | ||||||
Stock Based Compensation Rate at Which Employee Stock Option Exercisable | 100.00% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,161,020 | ||||||||
Number Of Authorized Stock Reduce By Issuance Of Other Than Stock Option Award | 1.33 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 2 years 328 days | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 2 years 328 days | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 900 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 900 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 400 | $ 600 | |||||||
Proceeds from Stock Options Exercised | 400 | $ 400 | |||||||
Employee Stock Option [Member] | |||||||||
Allocated Share-based Compensation Expense | $ 0 | $ 0 | $ 0 | ||||||
Employee Stock Option [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 3 years | ||||||||
Employee Stock Option [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
Restricted Stock [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 277,000 | 597,000 | 489,000 | ||||||
Allocated Share-based Compensation Expense | $ 4,700 | $ 13,900 | $ 4,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 2,800 | ||||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 2,000 | $ 5,500 | $ 1,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 505,000 | 1,470,000 | |||||||
Restricted Stock [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||
Restricted Stock [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||
Performance Shares [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 444,000 | 0 | 0 | ||||||
Allocated Share-based Compensation Expense | $ 1,200 | ||||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 0 | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Shares Issued During Exercise of Instrument, Upper Limit, Percentage | 200.00% | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 4,300 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 369,000 | 0 | 0 | 0 | |||||
Performance Shares [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||
Performance Shares [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||
Common Stock [Member] | |||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 500,000 | 500,000 | |||||||
Treasury Stock, Shares, Acquired | 1,177,600 | 650,000 | 500,000 | ||||||
Treasury Stock Acquired, Average Cost Per Share | $ 15.68 | $ 20.47 | $ 15.30 | ||||||
Stock Repurchase Program, Authorized Amount | $ 50,000 | ||||||||
Treasury Stock, Shares, Retired | 1,177,600 | 650,000 | 500,000 | ||||||
Common Class B [Member] | |||||||||
Maximum Percentage of Issued Shares to Outstanding Shares | 10.00% |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity - Activity of Shareholders' Equity (Details) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 01, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Jan. 03, 2016 | Oct. 04, 2015 | Jul. 05, 2015 | Apr. 05, 2015 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | ||
Balance | $ 342,366 | $ 342,366 | ||||||||||
Net income | $ 4,707 | [1] | $ 15,904 | $ 20,657 | $ 12,894 | $ 18,247 | $ 20,127 | $ 21,722 | $ 12,322 | 54,162 | $ 72,418 | $ 24,808 |
Pension liability adjustment | (11,572) | 6,072 | (15,280) | |||||||||
Foreign currency translation adjustment | (19,011) | (32,575) | $ (28,351) | |||||||||
Balance | $ 340,729 | $ 342,366 | 340,729 | $ 342,366 | ||||||||
Windfall tax benefit - share-based payment awards | $ 6,300 | |||||||||||
Common Stock [Member] | ||||||||||||
Balance (in shares) | 65,701 | 65,968 | 65,701 | 65,968 | 66,311 | |||||||
Balance | $ 6,570 | $ 6,597 | $ 6,570 | $ 6,597 | $ 6,631 | |||||||
Net income | $ 0 | $ 0 | $ 0 | |||||||||
Stock issuances under employee option plans (in shares) | 17 | 39 | 55 | |||||||||
Stock issuances under employee option plans | $ 2 | $ 4 | $ 5 | |||||||||
Other issuances of common stock (in shares) | 277 | 597 | 489 | |||||||||
Other issuances of common stock | $ 28 | $ 59 | $ 49 | |||||||||
Unamortized stock compensation expense related to restricted stock awards | 0 | 0 | 0 | |||||||||
Cash dividends paid | $ 0 | $ 0 | $ 0 | |||||||||
Forfeitures and compensation expense related to stock awards (in shares) | (579) | (253) | (387) | |||||||||
Forfeitures and compensation expense related to stock awards | $ (58) | $ (25) | $ (38) | |||||||||
Share repurchases (in shares) | (1,178) | (650) | (500) | |||||||||
Share repurchases | $ (118) | $ (65) | $ (50) | |||||||||
Pension liability adjustment | 0 | 0 | 0 | |||||||||
Foreign currency translation adjustment | $ 0 | $ 0 | $ 0 | |||||||||
Other (in shares) | 0 | 0 | 0 | |||||||||
Other | $ 0 | $ 0 | $ 0 | |||||||||
Balance (in shares) | 64,238 | 65,701 | 64,238 | 65,701 | 65,968 | |||||||
Balance | $ 6,424 | $ 6,570 | $ 6,424 | $ 6,570 | $ 6,597 | |||||||
Windfall tax benefit - share-based payment awards | 0 | |||||||||||
Additional Paid-in Capital [Member] | ||||||||||||
Balance | 370,327 | 368,603 | 370,327 | 368,603 | 374,597 | |||||||
Net income | 0 | 0 | 0 | |||||||||
Stock issuances under employee option plans | 251 | 355 | 381 | |||||||||
Other issuances of common stock | 4,726 | 9,746 | 10,361 | |||||||||
Unamortized stock compensation expense related to restricted stock awards | (4,754) | (9,806) | (10,410) | |||||||||
Cash dividends paid | 0 | 0 | 0 | |||||||||
Forfeitures and compensation expense related to stock awards | 979 | 14,670 | 1,293 | |||||||||
Share repurchases | (18,378) | (13,241) | (7,619) | |||||||||
Pension liability adjustment | 0 | 0 | 0 | |||||||||
Foreign currency translation adjustment | 0 | 0 | 0 | |||||||||
Other | 0 | 0 | 0 | |||||||||
Balance | 359,451 | 370,327 | 359,451 | 370,327 | 368,603 | |||||||
Windfall tax benefit - share-based payment awards | 6,300 | |||||||||||
Retained Earnings [Member] | ||||||||||||
Balance | 100,270 | 39,737 | 100,270 | 39,737 | 24,226 | |||||||
Net income | 54,162 | 72,418 | 24,808 | |||||||||
Stock issuances under employee option plans | 0 | 0 | 0 | |||||||||
Other issuances of common stock | 0 | 0 | 0 | |||||||||
Unamortized stock compensation expense related to restricted stock awards | 0 | 0 | 0 | |||||||||
Cash dividends paid | (14,285) | (11,885) | (9,297) | |||||||||
Forfeitures and compensation expense related to stock awards | 0 | 0 | 0 | |||||||||
Share repurchases | 0 | 0 | 0 | |||||||||
Pension liability adjustment | 0 | 0 | 0 | |||||||||
Foreign currency translation adjustment | 0 | 0 | 0 | |||||||||
Other | 91 | 0 | 0 | |||||||||
Balance | 140,238 | 100,270 | 140,238 | 100,270 | 39,737 | |||||||
Windfall tax benefit - share-based payment awards | 0 | |||||||||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||||
Balance | (43,290) | (49,362) | (43,290) | (49,362) | (34,082) | |||||||
Net income | 0 | 0 | 0 | |||||||||
Stock issuances under employee option plans | 0 | 0 | 0 | |||||||||
Other issuances of common stock | 0 | 0 | 0 | |||||||||
Unamortized stock compensation expense related to restricted stock awards | 0 | 0 | 0 | |||||||||
Cash dividends paid | 0 | 0 | 0 | |||||||||
Forfeitures and compensation expense related to stock awards | 0 | 0 | 0 | |||||||||
Share repurchases | 0 | 0 | 0 | |||||||||
Pension liability adjustment | (11,572) | 6,072 | (15,280) | |||||||||
Foreign currency translation adjustment | 0 | 0 | 0 | |||||||||
Other | 0 | 0 | 0 | |||||||||
Balance | (54,862) | (43,290) | (54,862) | (43,290) | (49,362) | |||||||
Windfall tax benefit - share-based payment awards | 0 | |||||||||||
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||||||||||
Balance | $ (91,511) | $ (58,936) | (91,511) | (58,936) | (30,585) | |||||||
Net income | 0 | 0 | 0 | |||||||||
Stock issuances under employee option plans | 0 | 0 | 0 | |||||||||
Other issuances of common stock | 0 | 0 | 0 | |||||||||
Unamortized stock compensation expense related to restricted stock awards | 0 | 0 | 0 | |||||||||
Cash dividends paid | 0 | 0 | 0 | |||||||||
Forfeitures and compensation expense related to stock awards | 0 | 0 | 0 | |||||||||
Share repurchases | 0 | 0 | 0 | |||||||||
Pension liability adjustment | 0 | 0 | 0 | |||||||||
Foreign currency translation adjustment | (19,011) | (32,575) | (28,351) | |||||||||
Other | 0 | 0 | 0 | |||||||||
Balance | $ (110,522) | $ (91,511) | (110,522) | $ (91,511) | $ (58,936) | |||||||
Windfall tax benefit - share-based payment awards | $ 0 | |||||||||||
[1] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. |
Note 10 - Stockholders' Equit56
Note 10 - Stockholders' Equity - Stock Options Outstanding (Details) - $ / shares | 12 Months Ended | ||||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |||
Outstanding at January 3, 2016 (in shares) | 87,500 | ||||
Outstanding at January 3, 2016 (in dollars per share) | $ 8.75 | ||||
Granted (in shares) | 0 | 0 | 0 | ||
Granted (in dollars per share) | $ 0 | ||||
Exercised (in shares) | 0 | ||||
Exercised (in dollars per share) | $ 0 | ||||
Forfeited or cancelled (in shares) | 0 | ||||
Forfeited or cancelled (in dollars per share) | $ 0 | ||||
Outstanding at January 1, 2017 (a) (in shares) | 87,500 | [1] | 87,500 | ||
Outstanding at January 1, 2017 (a) (in dollars per share) | $ 8.75 | [1] | $ 8.75 | ||
Exercisable at January 1, 2017 (b) (in shares) | [2] | 87,500 | |||
Exercisable at January 1, 2017 (b) (in dollars per share) | [2] | $ 8.75 | |||
[1] | At January 1, 2017, the weighted-average remaining contractual life of options outstanding was 2.9 years. | ||||
[2] | At January 1, 2017, the weighted-average remaining contractual life of options exercisable was 2.9 years. |
Note 10 - Stockholders' Equit57
Note 10 - Stockholders' Equity - Summary of Stock Options Activity by Range of Exercise Prices (Details) | 12 Months Ended |
Jan. 01, 2017$ / sharesshares | |
Options Outstanding Number Outstanding (in shares) | shares | 87,500 |
Options Outstanding Weighted Average Remaining Contractual Life (Year) | 2 years 328 days |
Options Outstanding Weighted Average Exercise Price (in dollars per share) | $ 8.75 |
Options Exercisable Number Exercisable (in shares) | shares | 87,500 |
Options Exercisable Weighted Average Exercise Price (in dollars per share) | $ 8.75 |
Exercise Price Range One [Member] | |
Range of Exercise Prices, Lower (in dollars per share) | 4.01 |
Range of Exercise Prices, Upper (in dollars per share) | $ 5 |
Options Outstanding Number Outstanding (in shares) | shares | 40,000 |
Options Outstanding Weighted Average Remaining Contractual Life (Year) | 2 years |
Options Outstanding Weighted Average Exercise Price (in dollars per share) | $ 4.31 |
Options Exercisable Number Exercisable (in shares) | shares | 40,000 |
Options Exercisable Weighted Average Exercise Price (in dollars per share) | $ 4.31 |
Exercise Price Range Two [Member] | |
Range of Exercise Prices, Lower (in dollars per share) | 12 |
Range of Exercise Prices, Upper (in dollars per share) | $ 14 |
Options Outstanding Number Outstanding (in shares) | shares | 47,500 |
Options Outstanding Weighted Average Remaining Contractual Life (Year) | 3 years 255 days |
Options Outstanding Weighted Average Exercise Price (in dollars per share) | $ 12.49 |
Options Exercisable Number Exercisable (in shares) | shares | 47,500 |
Options Exercisable Weighted Average Exercise Price (in dollars per share) | $ 12.49 |
Note 10 - Shareholders' Equit58
Note 10 - Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Outstanding at January 3, 2016 (in shares) | 1,470,000 | ||
Outstanding at January 3, 2016 (in dollars per share) | $ 17.92 | ||
Granted (in shares) | 277,000 | 597,000 | 489,000 |
Granted (in dollars per share) | $ 17.32 | ||
Vested (in shares) | 1,009,500 | ||
Vested (in dollars per share) | $ 18.46 | ||
Forfeited or cancelled (in shares) | 232,500 | ||
Forfeited or cancelled (in dollars per share) | $ 16.73 | ||
Outstanding at January 1, 2017 (in shares) | 505,000 | 1,470,000 | |
Outstanding at January 1, 2017 (in dollars per share) | $ 17.05 | $ 17.92 |
Note 10 - Shareholders' Equit59
Note 10 - Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares [Member] - $ / shares | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Outstanding at January 3, 2016 (in shares) | 0 | 0 | |
Outstanding at January 3, 2016 (in dollars per share) | $ 0 | ||
Granted (in shares) | 444,000 | 0 | 0 |
Granted (in dollars per share) | $ 17.21 | ||
Vested (in shares) | 17,000 | ||
Vested (in dollars per share) | $ 17.22 | ||
Forfeited or cancelled (in shares) | 58,000 | ||
Forfeited or cancelled (in dollars per share) | $ 17.22 | ||
Outstanding at January 1, 2017 (in shares) | 369,000 | 0 | 0 |
Outstanding at January 1, 2017 (in dollars per share) | $ 17.20 | $ 0 |
Note 11 - Income (Loss) Per S60
Note 11 - Income (Loss) Per Share (Details Textual) - shares shares in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 |
Note 11 - Income (Loss) Per S61
Note 11 - Income (Loss) Per Share - Distributed and Undistributed Earnings (Details) - $ / shares | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Distributed earnings (in dollars per share) | $ 0.22 | $ 0.18 | $ 0.14 |
Undistributed earnings (in dollars per share) | 0.61 | 0.92 | 0.23 |
(in dollars per share) | 0.83 | 1.10 | 0.37 |
Distributed earnings (in dollars per share) | 0.22 | 0.18 | 0.14 |
Undistributed earnings (in dollars per share) | 0.61 | 0.92 | 0.23 |
(in dollars per share) | $ 0.83 | $ 1.10 | $ 0.37 |
Note 11 - Income (Loss) Per S62
Note 11 - Income (Loss) Per Share - Calculation of Income (Loss) Per Shares (Details) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 01, 2017 | [1] | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Jan. 03, 2016 | Oct. 04, 2015 | Jul. 05, 2015 | Apr. 05, 2015 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Net income | $ 4,707 | $ 15,904 | $ 20,657 | $ 12,894 | $ 18,247 | $ 20,127 | $ 21,722 | $ 12,322 | $ 54,162 | $ 72,418 | $ 24,808 | |
Shares for Basic Earnings Per Share (in shares) | 65,098 | 66,027 | 66,389 | |||||||||
Dilutive Effect of Stock Options (in shares) | 38 | 48 | 59 | |||||||||
Shares for Diluted Earnings Per Share (in shares) | 65,136 | 66,075 | 66,448 | |||||||||
Participating Securities [Member] | ||||||||||||
Net income | $ 400 | $ 1,600 | $ 500 | |||||||||
Weighted Average Shares Outstanding (in shares) | 64,593 | 64,557 | 64,998 | |||||||||
Participating Securities (in shares) | 505 | 1,470 | 1,391 | |||||||||
[1] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. |
Note 12 - Restructuring Charg63
Note 12 - Restructuring Charges (Details Textual) $ in Millions | 3 Months Ended | |
Apr. 02, 2017USD ($) | Jan. 01, 2017USD ($) | |
Restructuring and Related Cost, Number of Positions Eliminated | 70 | |
Restructuring Charges | $ 19.8 | |
Scenario, Forecast [Member] | Minimum [Member] | ||
Restructuring Charges | $ 7 | |
Scenario, Forecast [Member] | Maximum [Member] | ||
Restructuring Charges | $ 9 |
Note 12 - Restructuring Charg64
Note 12 - Restructuring Charges - Restructuring Activities (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jan. 01, 2017USD ($) | Jan. 01, 2017USD ($) | |
Total restructuring charge | $ 19,800 | |
Employee Severance [Member] | Restructuring Charge 2014 [Member] | ||
Total restructuring charge | $ 10,058 | |
Cost incurred | 1,451 | |
Balance | 8,607 | 8,607 |
Fixed Asset Impairment [Member] | Restructuring Charge 2014 [Member] | ||
Total restructuring charge | 8,019 | |
Cost incurred | 8,019 | |
Balance | 0 | 0 |
Other Restructuring [Member] | Restructuring Charge 2014 [Member] | ||
Total restructuring charge | 1,711 | |
Cost incurred | 27 | |
Balance | $ 1,684 | $ 1,684 |
Note 13 - Taxes on Income (Deta
Note 13 - Taxes on Income (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | Dec. 29, 2013 | |
Operating Loss Carryforwards, Share-based Compensation | $ 18,000 | |||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 6,300 | |||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 3,800 | |||
Operating Loss Carryforwards, Valuation Allowance | 2,500 | $ 4,457 | ||
Increase (Decrease) in Deferred Tax Assets | $ (5,000) | $ (14,200) | ||
Effective Income Tax Rate Reconciliation, Percent | 31.60% | 31.50% | 30.60% | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |||
Undistributed Earnings of Foreign Subsidiaries | $ 279,000 | |||
Deferred Tax Liabilities, Undistributed Foreign Earnings | 5,900 | |||
Foreign Earnings to Be Repatriated | 4,800 | |||
Unrecognized Tax Benefits | 27,888 | $ 28,271 | $ 27,301 | $ 27,361 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 27,900 | |||
Unrecognized Tax Benefits That Would Require To Settle Through Cash | 18,300 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 1,400 | |||
Discontinued Operations [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 58,700 | |||
Domestic Tax Authority [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 14,000 | |||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | $ 1,600 | |||
Domestic Tax Authority [Member] | Earliest Tax Year [Member] | ||||
Open Tax Year | 2,003 | |||
Domestic Tax Authority [Member] | Deferred Compensation, Share-based Payments [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $ 14,000 | |||
State and Local Jurisdiction [Member] | ||||
Operating Loss Carryforwards, Valuation Allowance | $ 40,200 | |||
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | ||||
Open Tax Year | 2,011 | |||
State and Local Jurisdiction [Member] | Continuing Operations [Member] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $ 108,900 | |||
Foreign Tax Authority [Member] | ||||
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | $ 200 | |||
Foreign Tax Authority [Member] | Earliest Tax Year [Member] | ||||
Open Tax Year | 2,006 |
Note 13 - Taxes on Income - Pro
Note 13 - Taxes on Income - Provisions for Federal, Foreign and State Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Federal | $ 6,886 | $ 1,524 | $ 224 |
Foreign | 12,934 | 9,279 | 5,555 |
State | 1,633 | 1,403 | 712 |
21,453 | 12,206 | 6,491 | |
Federal | 6,186 | 19,971 | 3,856 |
Foreign | (1,937) | 3,795 | 493 |
State | (728) | (2,624) | 94 |
3,521 | 21,142 | 4,443 | |
$ 24,974 | $ 33,348 | $ 10,934 |
Note 13 - Taxes on Income - Inc
Note 13 - Taxes on Income - Income (Loss) From Continuing Operations Before Taxes on Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
U.S. operations | $ 38,357 | $ 58,318 | $ 10,345 |
Foreign operations | 40,779 | 47,448 | 25,397 |
Income before income tax expense | $ 79,136 | $ 105,766 | $ 35,742 |
Note 13 - Taxes on Income - Net
Note 13 - Taxes on Income - Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Basis differences of property and equipment, assets | $ 0 | $ 0 |
Basis differences of property and equipment, liabilities | 14,419 | 16,254 |
Basis difference of intangible assets, assets | 978 | 0 |
Basis difference of intangible assets, liabilities | 0 | 368 |
Foreign currency, assets | 0 | 0 |
Foreign currency, liabilities | 3,216 | 5,375 |
Net operating loss carryforwards, assets | 3,627 | 5,575 |
Net operating loss carryforwards, liabilities | 0 | 0 |
Valuation allowances on net operating loss carryforwards, assets | (2,500) | (4,457) |
Valuation allowances on net operating loss carryforwards, liabilities | 0 | 0 |
Federal tax credits, assets | 5,711 | 4,580 |
Federal tax credits, liabilities | 0 | 0 |
Deferred compensation, assets | 26,546 | 26,352 |
Deferred compensation, liabilities | 0 | 0 |
Basis difference of inventory, assets | 4,009 | 2,390 |
Basis difference of inventory, liabilities | 0 | 0 |
Basis difference of prepaids, accruals and reserves, assets | 6,273 | 6,556 |
Basis difference of prepaids, accruals and reserves, liabilities | 0 | 0 |
Pensions, assets | 3,435 | 1,075 |
Pensions, liabilities | 0 | 0 |
Undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested, assets | 0 | 0 |
Undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested, liabilities | 1,704 | 1,226 |
Basis difference of other assets and liabilities, assets | 0 | 0 |
Basis difference of other assets and liabilities, liabilities | 351 | 517 |
Deferred tax assets | 48,079 | 42,071 |
Deferred tax liabilities | $ 19,690 | $ 23,740 |
Note 13 - Taxes on Income - Def
Note 13 - Taxes on Income - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Deferred income taxes (current asset) | $ 10,030 | $ 8,726 |
Deferred tax asset (non-current asset) | 27,221 | 20,110 |
Deferred income taxes (non-current liabilities) | (8,862) | (10,505) |
$ 28,389 | $ 18,331 |
Note 13 - Taxes on Income - Eff
Note 13 - Taxes on Income - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Income taxes at U.S federal statutory rate | $ 27,698 | $ 37,018 | $ 12,510 |
State income taxes, net of federal tax effect | 1,861 | 3,003 | 57 |
Non-deductible business expenses | 538 | 614 | 570 |
Non-deductible employee compensation | 361 | 168 | 491 |
Tax effects of Company owned life insurance | (199) | 128 | (395) |
Tax effects of undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested | 463 | 458 | 362 |
Foreign and U.S. tax effects attributable to foreign operations | (3,963) | (3,347) | (3,021) |
Valuation allowance effect – State NOL | (1,272) | (3,797) | 468 |
Federal tax credits | (494) | (352) | 0 |
Other | (19) | (545) | (108) |
Income tax expense | $ 24,974 | $ 33,348 | $ 10,934 |
Note 13 - Taxes on Income - Rec
Note 13 - Taxes on Income - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Balance at beginning of year | $ 28,271 | $ 27,301 | $ 27,361 |
Increases related to tax positions taken during the current year | 690 | 641 | 875 |
Increases related to tax positions taken during the prior years | 148 | 1,230 | 1,157 |
Decreases related to tax positions taken during the prior years | (695) | (194) | (697) |
Decreases related to settlements with taxing authorities | 0 | 0 | 0 |
Decreases related to lapse of applicable statute of limitations | (403) | (367) | (919) |
Changes due to foreign currency translation | (123) | (340) | (476) |
Balance at end of year | $ 27,888 | $ 28,271 | $ 27,301 |
Note 14 - Commitments and Con72
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Operating Leases, Rent Expense | $ 24.5 | $ 24.4 | $ 24.6 |
Note 14 - Commitments and Con73
Note 14 - Commitments and Contingencies - Aggregate Minimum Rent Commitments Under Operating Leases (Details) $ in Thousands | Jan. 01, 2017USD ($) |
2,017 | $ 36,763 |
2,018 | 25,044 |
2,019 | 15,505 |
2,020 | 10,227 |
2,021 | 8,106 |
Thereafter | $ 24,260 |
Note 15 - Employee Benefit Pl74
Note 15 - Employee Benefit Plans (Details Textual) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017USD ($) | Jan. 03, 2016USD ($) | Dec. 28, 2014USD ($) | |
Defined Contribution Plan Eligibility Period | 180 days | ||
Normal Retirement Age | 65 | ||
Early Retirement Age | 55 | ||
Minimum Period Of Service For Entitlement In Plan | 15 years | ||
Minimum Period Under Death Benefit Feature | 10 years | ||
Maximum Period For Death Benefits Payable To Designated Beneficiary | 10 years | ||
Foreign Pension Plan [Member] | |||
Pension Expense | $ 1,200 | $ 2,100 | $ 100 |
Pension and Other Postretirement Defined Benefit Plans, Net Liabilities | 19,400 | ||
Unfunded Status Net Of Amounts Recognized In Other Comprehensive Income | $ 48,900 | ||
Number of Defined Benefit Plans | 2 | ||
Defined Benefit Plan, Indexation Benefit | $ 32,200 | ||
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year | 1,300 | ||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 21,100 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), Net of Tax | (21,800) | ||
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), Net of Tax | (700) | ||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | 3,000 | ||
Deferred Compensation, Excluding Share-based Payments and Retirement Benefits [Member] | |||
Deferred Compensation Liability, Current and Noncurrent | 28,300 | ||
Investment in Insurance Instruments | 25,300 | ||
Domestic SCP [Member] | |||
Defined Benefit Plan, Contributions by Employer | 1,000 | ||
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year | 400 | ||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | 1,400 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Gain (Loss), Net of Tax | (1,900) | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 29,700 | 23,600 | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Net of Tax | (500) | ||
The 401(k) Plan [Member] | |||
Defined Benefit Plan, Contributions by Employer | 3,100 | 2,900 | 2,700 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 | $ 0 |
Note 15 - Employee Benefit Pl75
Note 15 - Employee Benefit Plans - Funded Status of The Company's Significant Foreign Defined Benefit Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Benefit obligation, beginning of year | $ 25,860 | $ 24,016 | |
Service cost | 440 | 594 | |
Interest cost | 1,269 | 1,113 | |
Benefits paid | (1,012) | (847) | |
Actuarial loss (gain) | 3,143 | 984 | |
Benefit obligation, end of year | 29,700 | 25,860 | $ 24,016 |
Unrecognized actuarial loss | (5,626) | (4,226) | |
Total amount recognized | 54,862 | 43,290 | |
Foreign Defined Benefit Plan [Member] | |||
Benefit obligation, beginning of year | 243,717 | 275,762 | |
Service cost | 1,032 | 1,061 | 705 |
Interest cost | 6,580 | 8,384 | 10,563 |
Benefits paid | (8,551) | (10,004) | |
Actuarial loss (gain) | 73,600 | (13,591) | |
Member contributions | 225 | 239 | |
Currency translation adjustment | (38,790) | (18,134) | |
Benefit obligation, end of year | 277,813 | 243,717 | 275,762 |
Plan assets, beginning of year | 239,281 | 261,026 | |
Actual return on assets | 59,364 | 753 | |
Company contributions | 4,990 | 5,001 | |
Translation adjustment | (36,719) | (17,496) | |
Plan assets, end of year | 258,365 | 239,281 | $ 261,026 |
Funded status benefit asset/(liability) | (19,448) | (4,437) | |
Net amount recognized | (19,448) | (4,437) | |
Unrecognized actuarial loss | 49,547 | 39,411 | |
Unamortized prior service costs | (311) | (347) | |
Total amount recognized | $ 49,236 | $ 39,064 |
Note 15 - Employee Benefit Pl76
Note 15 - Employee Benefit Plans - Defined Benefit Plans (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 |
Projected Benefit Obligation | $ 29,700 | $ 25,860 | $ 24,016 |
Uk Plan [Member] | |||
Projected Benefit Obligation | 171,172 | 168,178 | |
Accumulated benefit obligations | 171,172 | 168,178 | |
Plan Assets | 153,132 | 167,360 | |
European Plans [Member] | |||
Projected Benefit Obligation | 106,641 | 75,539 | |
Accumulated benefit obligations | 103,242 | 71,005 | |
Plan Assets | $ 105,233 | $ 71,920 |
Note 15 - Employee Benefit Pl77
Note 15 - Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Service cost | $ 440 | $ 594 | |
Interest cost | 1,269 | 1,113 | |
Foreign Defined Benefit Plan [Member] | |||
Service cost | 1,032 | 1,061 | $ 705 |
Interest cost | 6,580 | 8,384 | 10,563 |
Expected return on plan assets | (7,553) | (8,764) | (11,904) |
Amortizations | 33 | 33 | 19 |
Recognized net actuarial (gains)/losses | 1,076 | 1,359 | 648 |
Net periodic benefit cost | $ 1,168 | $ 2,073 | $ 31 |
Note 15 - Employee Benefit Pl78
Note 15 - Employee Benefit Plans - Assumptions Used to Determine Net Periodic (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Service cost | $ 440 | $ 594 | |
Interest cost | $ 1,269 | $ 1,113 | |
Foreign Pension Plan [Member] | |||
Discount rate | 2.70% | 3.00% | 4.00% |
Expected return on plan assets | 3.10% | 4.00% | 4.20% |
Rate of compensation | 2.00% | 2.00% | 2.00% |
Discount rate | 2.30% | 3.40% | 3.20% |
Rate of compensation | 2.00% | 2.00% | 2.00% |
Domestic SCP [Member] | |||
Discount rate | 4.25% | 4.00% | 4.50% |
Rate of compensation | 4.00% | 4.00% | 4.00% |
Discount rate | 3.85% | 4.25% | 4.00% |
Rate of compensation | 4.00% | 4.00% | 4.00% |
Service cost | $ 440 | $ 594 | $ 500 |
Interest cost | 1,269 | 1,113 | 1,072 |
Amortizations | 811 | 522 | 291 |
Net periodic benefit cost | $ 2,520 | $ 2,229 | $ 1,863 |
Note 15 - Employee Benefit Pl79
Note 15 - Employee Benefit Plans - Projected Benefit Obligations, Accumulated Benefit Obligations and Fair Value of Plan Assets (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Fair value of plan assets | $ 258,365 | $ 239,280 |
Foreign Defined Benefit Plan [Member] | ||
Projected benefit obligation | 277,813 | 243,717 |
Accumulated benefit obligations | 274,414 | 239,183 |
Fair value of plan assets | $ 258,365 | $ 239,280 |
Note 15 - Employee Benefit Pl80
Note 15 - Employee Benefit Plans - Weighted Average Asset Allocations (Details) | 12 Months Ended | |
Jan. 01, 2017 | Jan. 03, 2016 | |
Percentage of Plan Assets at Year End | 100.00% | 100.00% |
Maximum [Member] | ||
Target Allocation | 100.00% | |
Equity Securities [Member] | ||
Target Allocation | 50.00% | |
Percentage of Plan Assets at Year End | 43.00% | 49.00% |
Equity Securities [Member] | Minimum [Member] | ||
Target Allocation | 40.00% | |
Debt Securities [Member] | ||
Target Allocation | 45.00% | |
Percentage of Plan Assets at Year End | 36.00% | 41.00% |
Debt Securities [Member] | Minimum [Member] | ||
Target Allocation | 35.00% | |
Other Securities [Member] | ||
Target Allocation | 20.00% | |
Percentage of Plan Assets at Year End | 21.00% | 10.00% |
Other Securities [Member] | Minimum [Member] | ||
Target Allocation | 10.00% |
Note 15 - Employee Benefit Pl81
Note 15 - Employee Benefit Plans - Pension Plan Assets at Fair Value (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Fair value of plan assets | $ 258,365 | $ 239,280 |
European Plans [Member] | ||
Fair value of plan assets | 105,233 | 71,920 |
Uk Plan [Member] | ||
Fair value of plan assets | 153,132 | 167,360 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair value of plan assets | 153,090 | 165,766 |
Fair Value, Inputs, Level 1 [Member] | European Plans [Member] | ||
Fair value of plan assets | 73,042 | 71,920 |
Fair Value, Inputs, Level 1 [Member] | Uk Plan [Member] | ||
Fair value of plan assets | 80,048 | 93,846 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair value of plan assets | 50,364 | 59,228 |
Fair Value, Inputs, Level 2 [Member] | European Plans [Member] | ||
Fair value of plan assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Uk Plan [Member] | ||
Fair value of plan assets | 50,364 | 59,228 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair value of plan assets | 54,911 | 14,286 |
Fair Value, Inputs, Level 3 [Member] | European Plans [Member] | ||
Fair value of plan assets | 32,191 | 0 |
Fair Value, Inputs, Level 3 [Member] | Uk Plan [Member] | ||
Fair value of plan assets | $ 22,720 | $ 14,286 |
Note 15 - Employee Benefit Pl82
Note 15 - Employee Benefit Plans (Details) - Foreign Defined Benefit Plan Assets by Asset Allocation and Fair Value Hierarchy (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Fair value of plan assets | $ 258,365 | $ 239,280 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair value of plan assets | 153,090 | 165,766 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
Fair value of plan assets | 110,738 | 117,889 |
Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member] | ||
Fair value of plan assets | 37,175 | 45,953 |
Fair Value, Inputs, Level 1 [Member] | Other Securities [Member] | ||
Fair value of plan assets | 5,177 | 1,924 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair value of plan assets | 50,364 | 59,228 |
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | ||
Fair value of plan assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | ||
Fair value of plan assets | 36,378 | 41,725 |
Fair Value, Inputs, Level 2 [Member] | Other Securities [Member] | ||
Fair value of plan assets | 13,986 | 17,503 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair value of plan assets | 54,911 | 14,286 |
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | ||
Fair value of plan assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member] | ||
Fair value of plan assets | 19,224 | 9,576 |
Fair Value, Inputs, Level 3 [Member] | Other Securities [Member] | ||
Fair value of plan assets | $ 35,687 | $ 4,710 |
Note 15 - Employee Benefit Pl83
Note 15 - Employee Benefit Plans - Change in Value Related to Level 3 Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2017 | Jan. 03, 2016 | |
Balance of level 3 assets, beginning of year | $ 239,280 | |
Interest cost | 1,269 | $ 1,113 |
Benefits paid | (1,012) | (847) |
Actuarial gain (loss) | (3,143) | (984) |
Ending Balance of level 3 assets | 258,365 | 239,280 |
Fair Value, Inputs, Level 3 [Member] | ||
Balance of level 3 assets, beginning of year | 14,286 | |
Interest cost | 492 | |
Benefits paid | (606) | |
Assets transferred in to Level 3 | 11,988 | |
Actuarial gain (loss) | 32,429 | |
Translation adjustment | (3,678) | |
Ending Balance of level 3 assets | $ 54,911 | $ 14,286 |
Note 15 - Employee Benefit Pl84
Note 15 - Employee Benefit Plans - Future Benefit Payments for Foreign Defined Benefit Plans (Details) - Foreign Defined Benefit Plan [Member] $ in Thousands | Jan. 01, 2017USD ($) |
2,017 | $ 7,907 |
2,018 | 8,134 |
2,019 | 8,323 |
2,020 | 8,532 |
2,021 | 8,653 |
2022-2026 | $ 43,723 |
Note 15 - Employee Benefit Pl85
Note 15 - Employee Benefit Plans (Details) - Change in Benefit Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2017 | Jan. 03, 2016 | |
Benefit obligation, beginning of year | $ 25,860 | $ 24,016 |
Service cost | 440 | 594 |
Interest cost | 1,269 | 1,113 |
Benefits paid | (1,012) | (847) |
Actuarial loss (gain) | 3,143 | 984 |
Benefit obligation, end of year | $ 29,700 | $ 25,860 |
Note 15 - Employee Benefit Pl86
Note 15 - Employee Benefit Plans - Amounts Recognized in Consolidated Balance Sheets (Details) - Domestic SCP [Member] - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Current liabilities | $ 1,890 | $ 1,009 |
Non-current liabilities | 27,810 | 24,850 |
$ 29,700 | $ 25,859 |
Note 15 - Employee Benefit Pl87
Note 15 - Employee Benefit Plans - Components of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | Jan. 01, 2017 | Jan. 03, 2016 |
Unrecognized actuarial loss | $ 5,626 | $ 4,226 |
Note 15 - Employee Benefit Pl88
Note 15 - Employee Benefit Plans - Future Benefit Payments for SCP (Details) - Domestic SCP [Member] $ in Thousands | Jan. 01, 2017USD ($) |
2,017 | $ 1,890 |
2,018 | 2,029 |
2,019 | 2,029 |
2,020 | 2,029 |
2,021 | 2,029 |
2022-2026 | $ 9,859 |
Note 16 - Enterprise-wide Dis89
Note 16 - Enterprise-wide Disclosures (Details Textual) | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Number of Operating Segments | 3 | ||
Number of Reportable Segments | 1 | ||
Geographic Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Foreign Countries [Member] | |||
Concentration Risk, Percentage | 48.00% | 48.00% | 51.00% |
Note 16 - Enterprise-wide Dis90
Note 16 - Enterprise-wide Disclosures - Operating Segment Summary Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Jan. 01, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Jan. 03, 2016 | Oct. 04, 2015 | Jul. 05, 2015 | Apr. 05, 2015 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |||||
Net sales | $ 239,507 | [1] | $ 248,349 | $ 248,207 | $ 222,554 | $ 246,636 | $ 254,686 | $ 263,637 | $ 236,904 | $ 958,617 | [2] | $ 1,001,863 | [2] | $ 1,003,903 | [2] |
Depreciation and amortization | 30,632 | 30,803 | 30,677 | ||||||||||||
Total assets | 839,573 | 756,549 | 839,573 | 756,549 | |||||||||||
Operating Segments [Member] | |||||||||||||||
Net sales | 958,617 | 1,001,863 | 1,003,903 | ||||||||||||
Depreciation and amortization | 29,066 | 29,564 | 28,934 | ||||||||||||
Total assets | 737,399 | 648,266 | 737,399 | 648,266 | |||||||||||
Americas [Member] | |||||||||||||||
Net sales | 568,138 | 593,163 | 573,458 | ||||||||||||
Depreciation and amortization | 14,639 | 15,390 | 14,719 | ||||||||||||
Total assets | 237,900 | 223,085 | 237,900 | 223,085 | |||||||||||
Europe [Member] | |||||||||||||||
Net sales | 241,463 | 262,671 | 276,845 | ||||||||||||
Depreciation and amortization | 5,698 | 5,007 | 4,803 | ||||||||||||
Total assets | 261,182 | 249,241 | 261,182 | 249,241 | |||||||||||
Asia Pacific [Member] | |||||||||||||||
Net sales | 149,016 | 146,029 | 153,600 | ||||||||||||
Depreciation and amortization | 8,729 | 9,167 | $ 9,412 | ||||||||||||
Total assets | $ 238,317 | $ 175,940 | $ 238,317 | $ 175,940 | |||||||||||
[1] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. | ||||||||||||||
[2] | Revenue attributed to geographic areas is based on the location of the customer. |
Note 16 - Enterprise-wide Dis91
Note 16 - Enterprise-wide Disclosures - Reconciliation of Total Operating Segment Depreciation, Amortization, and Assets to Consolidated Amounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | |
Depreciation and amortization | $ 30,632 | $ 30,803 | $ 30,677 |
Total assets | 839,573 | 756,549 | |
Operating Segments [Member] | |||
Depreciation and amortization | 29,066 | 29,564 | 28,934 |
Total assets | 737,399 | 648,266 | |
Corporate, Non-Segment [Member] | |||
Depreciation and amortization | 1,566 | 1,239 | 1,743 |
Total assets | $ 102,174 | $ 108,283 |
Note 16 - Enterprise-wide Dis92
Note 16 - Enterprise-wide Disclosures - Revenue and Long-lived Assets Related to Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||
Jan. 01, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Jan. 03, 2016 | Oct. 04, 2015 | Jul. 05, 2015 | Apr. 05, 2015 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | ||||||
Net sales | $ 239,507 | [1] | $ 248,349 | $ 248,207 | $ 222,554 | $ 246,636 | $ 254,686 | $ 263,637 | $ 236,904 | $ 958,617 | [2] | $ 1,001,863 | [2] | $ 1,003,903 | [2] | |
Property and equipment, net | [3] | 204,508 | 211,489 | 204,508 | 211,489 | |||||||||||
UNITED STATES | ||||||||||||||||
Net sales | [2] | 501,206 | 520,375 | 487,001 | ||||||||||||
Property and equipment, net | [3] | 79,365 | 79,279 | 79,365 | 79,279 | |||||||||||
UNITED KINGDOM | ||||||||||||||||
Net sales | [2] | 58,266 | 72,445 | 83,182 | ||||||||||||
Property and equipment, net | [3] | 8,122 | 10,653 | 8,122 | 10,653 | |||||||||||
AUSTRALIA | ||||||||||||||||
Net sales | [2] | 78,141 | 76,600 | 79,922 | ||||||||||||
Property and equipment, net | [3] | 44,209 | 47,557 | 44,209 | 47,557 | |||||||||||
Other Foreign Countries [Member] | ||||||||||||||||
Net sales | [2] | 321,004 | 332,443 | 353,798 | ||||||||||||
Property and equipment, net | [3] | 19,230 | 19,459 | 19,230 | 19,459 | |||||||||||
NETHERLANDS | ||||||||||||||||
Property and equipment, net | [3] | 43,907 | 42,808 | 43,907 | 42,808 | |||||||||||
CHINA | ||||||||||||||||
Property and equipment, net | [3] | $ 9,675 | $ 11,733 | $ 9,675 | $ 11,733 | |||||||||||
[1] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. | |||||||||||||||
[2] | Revenue attributed to geographic areas is based on the location of the customer. | |||||||||||||||
[3] | Long-lived assets include tangible assets physically located in foreign countries. |
Note 17 - Quarterly Data and 93
Note 17 - Quarterly Data and Share Information (Unaudited) (Details Textual) $ in Millions | 3 Months Ended |
Jan. 01, 2017USD ($) | |
Restructuring Costs and Asset Impairment Charges | $ 19.8 |
Note 17 - Quarterly Data and 94
Note 17 - Quarterly Data and Share Information (Unaudited) - Consolidated Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Jan. 01, 2017 | [1] | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Jan. 03, 2016 | Oct. 04, 2015 | Jul. 05, 2015 | Apr. 05, 2015 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | ||||
Net sales | $ 239,507 | $ 248,349 | $ 248,207 | $ 222,554 | $ 246,636 | $ 254,686 | $ 263,637 | $ 236,904 | $ 958,617 | [2] | $ 1,001,863 | [2] | $ 1,003,903 | [2] | |
Gross profit | 89,968 | 92,918 | 99,126 | 86,632 | 98,239 | 97,966 | 101,252 | 85,432 | 368,644 | 382,889 | 340,027 | ||||
Net income | $ 4,707 | $ 15,904 | $ 20,657 | $ 12,894 | $ 18,247 | $ 20,127 | $ 21,722 | $ 12,322 | $ 54,162 | $ 72,418 | $ 24,808 | ||||
Basic income per share (in dollars per share) | $ 0.07 | $ 0.25 | $ 0.32 | $ 0.20 | $ 0.28 | $ 0.31 | $ 0.33 | $ 0.19 | $ 0.83 | $ 1.10 | $ 0.37 | ||||
Diluted income per share (in dollars per share) | 0.07 | 0.25 | 0.32 | 0.20 | 0.28 | 0.31 | 0.33 | 0.19 | 0.83 | 1.10 | $ 0.37 | ||||
Maximum [Member] | |||||||||||||||
High (in dollars per share) | 19.10 | 18.45 | 18.71 | 18.99 | 24.44 | 27.17 | 25.59 | 21.38 | 19.10 | [1] | 24.44 | ||||
Minimum [Member] | |||||||||||||||
High (in dollars per share) | $ 14.59 | $ 15.02 | $ 14.56 | $ 13.70 | $ 17.89 | $ 22.13 | $ 19.86 | $ 15.13 | $ 14.59 | [1] | $ 17.89 | ||||
[1] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. | ||||||||||||||
[2] | Revenue attributed to geographic areas is based on the location of the customer. |
Note 18 - Items Reclassified 95
Note 18 - Items Reclassified From Other Comprehensive Income (Details Textual) $ in Millions | 12 Months Ended |
Jan. 01, 2017USD ($) | |
Selling, General and Administrative Expenses [Member] | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Net of Tax | $ 1.9 |
Schedule II - Valuation and Q96
Schedule II - Valuation and Qualifying Accounts and Reserves (Details) - Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 01, 2017 | Jan. 03, 2016 | Dec. 28, 2014 | ||
Allowance for Doubtful Accounts [Member] | ||||
BALANCE, AT BEGINNING OF YEAR | $ 4,479 | $ 5,896 | $ 7,646 | |
CHARGED TO COSTS AND EXPENSES | [1] | (243) | 212 | (730) |
CHARGED TO OTHER ACCOUNTS | 0 | 0 | 0 | |
DEDUCTIONS | [2] | 456 | 1,629 | 1,020 |
BALANCE, AT END OF YEAR | 3,780 | 4,479 | 5,896 | |
Business Restructuring Reserves [Member] | ||||
BALANCE, AT BEGINNING OF YEAR | 104 | 7,179 | 519 | |
CHARGED TO COSTS AND EXPENSES | [1] | 11,769 | (481) | 9,315 |
CHARGED TO OTHER ACCOUNTS | [3] | 8,019 | 0 | 2,717 |
DEDUCTIONS | [4] | 1,582 | 6,594 | 2,655 |
BALANCE, AT END OF YEAR | 10,291 | 104 | 7,179 | |
Warranty and Sales Allowance [Member] | ||||
BALANCE, AT BEGINNING OF YEAR | 4,759 | 3,954 | 4,935 | |
CHARGED TO COSTS AND EXPENSES | [1] | 3,149 | 2,584 | 457 |
CHARGED TO OTHER ACCOUNTS | 0 | 0 | 0 | |
DEDUCTIONS | [5] | 2,379 | 1,779 | 1,438 |
BALANCE, AT END OF YEAR | 5,529 | 4,759 | 3,954 | |
Inventory Valuation Reserve [Member] | ||||
BALANCE, AT BEGINNING OF YEAR | 15,467 | 14,784 | 13,416 | |
CHARGED TO COSTS AND EXPENSES | [1] | 4,736 | 3,758 | 4,819 |
CHARGED TO OTHER ACCOUNTS | 0 | 0 | 0 | |
DEDUCTIONS | [5] | 2,578 | 3,075 | 3,451 |
BALANCE, AT END OF YEAR | $ 17,625 | $ 15,467 | $ 14,784 | |
[1] | Includes changes in foreign currency exchange rates. | |||
[2] | Write off of bad debt, and recovering of previously provided for amounts. | |||
[3] | Direct reduction of asset carrying value, not included in restructuring reserve. | |||
[4] | Cash payments. | |||
[5] | Represents credits and costs applied against reserve and adjustments to reflect actual exposure. |