Interface (TILE) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 01, 2017	Nov. 03, 2017
Document Information [Line Items]
Entity Registrant Name	INTERFACE INC
Entity Central Index Key	715,787
Trading Symbol	tile
Current Fiscal Year End Date	--12-31
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)		60,251,423
Document Type	10-Q
Document Period End Date	Oct. 1, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Oct. 01, 2017	Jan. 01, 2017
ASSETS
Cash and Cash Equivalents	$ 78,108	$ 165,672
Accounts Receivable, net	133,869	126,004
Inventories	186,126	156,083
Prepaid Expenses and Other Current Assets	24,358	23,123
TOTAL CURRENT ASSETS	422,461	470,882
PROPERTY AND EQUIPMENT, less accumulated depreciation	212,332	204,508
DEFERRED TAX ASSETS	30,805	33,117
GOODWILL	68,029	61,218
OTHER ASSETS	68,772	65,714
TOTAL ASSETS	802,399	835,439
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts Payable	52,313	45,380
Current Portion of Long-Term Debt	15,000	15,000
Accrued Expenses	101,346	98,703
TOTAL CURRENT LIABILITIES	168,659	159,083
LONG-TERM DEBT	219,506	255,347
DEFERRED INCOME TAXES	5,819	4,728
OTHER	76,223	75,552
TOTAL LIABILITIES	470,207	494,710
Commitments and Contingencies
SHAREHOLDERS’ EQUITY:
Preferred Stock	0	0
Common Stock	6,025	6,424
Additional Paid-In Capital	282,424	359,451
Retained Earnings	183,423	140,238
Accumulated Other Comprehensive Income (Loss) – Foreign Currency Translation Adjustment	(79,844)	(110,522)
Accumulated Other Comprehensive Income (Loss) – Pension Liability	(59,836)	(54,862)
TOTAL SHAREHOLDERS’ EQUITY	332,192	340,729
	$ 802,399	$ 835,439

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
NET SALES	$ 257,431	$ 248,349	$ 730,233	$ 719,110
Cost of Sales	158,887	155,431	445,990	440,434
GROSS PROFIT ON SALES	98,544	92,918	284,243	278,676
Selling, General and Administrative Expenses	67,633	67,175	197,660	200,108
Restructuring and Asset Impairment Charges	0	0	7,299	0
OPERATING INCOME	30,911	25,743	79,284	78,568
Interest Expense	1,851	1,654	5,150	4,763
Other Expense	651	739	1,816	1,072
INCOME BEFORE INCOME TAX EXPENSE	28,409	23,350	72,318	72,733
Income Tax Expense	8,970	7,446	23,394	23,278
NET INCOME	$ 19,439	$ 15,904	$ 48,924	$ 49,455
Earnings Per Share – Basic (in dollars per share)	$ 0.32	$ 0.25	$ 0.78	$ 0.76
Earnings Per Share – Diluted (in dollars per share)	$ 0.32	$ 0.25	$ 0.78	$ 0.76
Common Shares Outstanding – Basic (in shares)	61,018	64,805	62,630	65,285
Common Shares Outstanding – Diluted (in shares)	61,060	64,842	62,672	65,322

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Net Income	$ 19,439	$ 15,904	$ 48,924	$ 49,455
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment	9,848	2,759	30,678	3,827
Other Comprehensive Income (Loss), Pension Liability Adjustment	(1,994)	834	(4,974)	3,632
Comprehensive Income	$ 27,293	$ 19,497	$ 74,628	$ 56,914

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
OPERATING ACTIVITIES:
Net Income	$ 48,924	$ 49,455
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:
Depreciation and Amortization	22,203	22,474
Stock Compensation Amortization Expense	4,479	3,390
Deferred Income Taxes and Other	5,926	5,049
Working Capital Changes:
Accounts Receivable	(1,397)	1,449
Inventories	(22,377)	(454)
Prepaid Expenses and Other Current Assets	(653)	(1,008)
Accounts Payable and Accrued Expenses	10,804	(1,462)
CASH PROVIDED BY OPERATING ACTIVITIES:	67,909	78,893
INVESTING ACTIVITIES:
Capital Expenditures	(22,809)	(20,912)
Other	(421)	1,140
CASH USED IN INVESTING ACTIVITIES:	(23,230)	(19,772)
FINANCING ACTIVITIES:
Borrowing of Long-Term Debt	20,000	20,329
Repayment of Long-Term Debt	(62,085)	(17,500)
Tax Withholding Payments for Share-Based Compensation	(1,477)	(4,661)
Repurchase of Common Stock	(81,061)	(10,443)
Debt Issuance Cost	(1,418)	0
Dividends Paid	(11,571)	(10,429)
CASH USED IN FINANCING ACTIVITIES:	(137,612)	(22,704)
Net Cash Provided By Operating, Investing and Financing Activities	(92,933)	36,417
Effect of Exchange Rate Changes on Cash	5,369	1,616
CASH AND CASH EQUIVALENTS:
Net Change During the Period	(87,564)	38,033
Balance at Beginning of Period	165,672	75,696
Balance at End of Period	$ 78,108	$ 113,729

Note 1 - Condensed Footnotes

Note 1 - Condensed Footnotes	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 – CONDENSED FOOTNOTES As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10 not 10 January 1, 2017, The financial information included in this report has been prepared by the Company, without audit. In the opinion of management, the financial information included in this report contains all adjustments (all of which are normal and recurring) necessary for a fair presentation of the results for the interim periods. Nevertheless, the results shown for interim periods are not or the full year. The January 1, 2017, not C ertain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no

Note 2 - Inventories

Note 2 - Inventories	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 2 Inventories are summarized as follows: O ct. 1 , 201 7 Jan. 1, 2017 (In thousands) Finished Goods $ 123,708 $ 104,742 Work in Process 13,046 8,711 Raw Materials 49,372 42,630 $ 186,126 $ 156,083

Note 3 - Earnings Per Share

Note 3 - Earnings Per Share	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 3 The Company computes basic earnings per share (“EPS”) by dividing net income by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings. The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were not Three Months Ended Nine Months Ended Oct. 1, 2017 Oct. 2, 2016 Oct. 1, 2017 Oct. 2, 2016 Earnings Per Share Basic Earnings Per Share Distributed Earnings $ 0.07 $ 0.06 $ 0.19 $ 0.10 Undistributed Earnings 0.25 0.19 0.59 0.66 Total $ 0.32 $ 0.25 $ 0.78 $ 0.76 Diluted Earnings Per Share Distributed Earnings $ 0.07 $ 0.06 $ 0.19 $ 0.10 Undistributed Earnings 0.25 0.19 0.59 0.66 Total $ 0.32 $ 0.25 $ 0.78 $ 0.76 Basic Earnin gs Per Share $ 0.32 $ 0.25 $ 0.78 $ 0.76 Diluted Earnings Per Share $ 0.32 $ 0.25 $ 0.78 $ 0.76 The following table s present net income that was attributable to participating securities: Three Months Ended N i ne Months Ended Oct. 1 , 201 7 Oct. 2, 2016 Oct. 1, 2017 Oct. 2 , 201 6 ( I n millions) Net Income Attributable to Participating Securities $ 0.1 $ 0.1 $ 0.4 $ 0.4 The weighted average shares outstanding for basic and diluted EPS were as follows: Three Months Ended N i ne Months Ended Oct. 1, 2017 Oct. 2, 2016 Oct. 1, 2017 Oct. 2, 2016 (In thousands) Weighted Average Shares Outstanding 60,555 64,241 62,167 64,721 Participating Securities 463 564 463 564 Shares for Basic Earnings Per Share 61,018 64,805 62,630 65,285 Dilutive Effect of Stock Options 42 37 42 37 Shares for Diluted Earnings Per Share 61,060 64,842 62,672 65,322 For all periods presented, there were no

Note 4 - Long-term Debt

Note 4 - Long-term Debt	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 4 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. Interest on base rate loans is charged at varying rates computed by applying a margin depending on the Company ’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on LIBOR-based loans and fees for letters of credit are charged at varying rates computed by applying a margin over the applicable LIBOR rate, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. In addition, the Company pays a commitment fee per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility. As of October1, 2017, $173.8 $60.8 $6.0 October 1, 2017, 2.6%. The Company is required to make quarterly amortization payments of the term loan borrowing. The amortization payments are due on the last day of the calendar quarter. The quarterly amortization payment amount was $3.75 third 2017 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. In the third 2017 , the Company amended and restated the syndicated credit facility. The terms and conditions of the amended and restated credit facility (the “Amended Facility”) are substantially similar to the preceding Facility, with the following key changes: ● The Amended Facility matures in August 2022; ● The restricted payments covenant in the Amended Facility has been liberalized (and now allows for, among other things, the repurchase of the full amount of the new share re purchase program described below); and ● Permits the potential release of the lenders ’ liens on certain real property and equipment in connection with an anticipated property tax abatement transaction in Georgia. Interest Rate Risk Management Shortly after entering into the Amended Facility, the Company entered into an interest rate swap transaction to fix the variable interest rate on a portion of its term loan borrowings in order to manage a portion of its exposure to interest rate fluctuations. The Company’s objective and strategy with respect to this interest rate swap is to protect the Company against adverse fluctuations in interest rates by reducing its exposure to variability to cash flows relating to interest payments on a portion of its outstanding debt. The Company is meeting its objective by hedging the risk of changes in its cash flows (interest payments) attributable to changes in LIBOR, the designated benchmark interest rate being hedged (the “hedged risk”), on an amount of the Company’s debt principal equal to the outstanding swap notional amount. Cash Flow Interest Rate Swap The C ompany’s interest rate swap is designated and qualifies as a cash flow hedge of forecasted interest payments. The Company reports the effective portion of the fair value gain or loss on the swap as a component of other comprehensive income (or other comprehensive loss). Gains or losses (if any) on any ineffective portion of derivative instruments in cash flow hedging relationships are recorded in the period in which they occur as a component of other expense (or other income) in the Consolidated Condensed Statement of Operations. There were no third 2017. October 1, 2017 $100 As of October 1, 2017, $0.2 Other Lines of Credit Subsidiaries of the Company have an aggregate of the equivalent of $9.8 2.5% 6.5%. October 1, 2017, no

Note 5 - Stock-based Compensati

Note 5 - Stock-based Compensation	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 5 Stock Option Awards In accordance with accounting standards, the Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost will be recognized over the period in which the employee is required to provide the services – the requisite service period (usually the vesting period) – in exchange for the award. There were no 2015 2017. 2013, no first nine 2016 2017. As of October 1, 2017, 82,500 of $8.53 5,000 first nine 2017. no 2017 $1.1 October 1, 2017. Restricted Stock Awards During the nine October 1, 2017, 248,000 one three Compensation expense related to restricted stock grants was $ 2.0 $2.4 nine October 1, 2017 October 2, 2016, The following table summarizes restricted stock outstanding as of October 1, 2017, nine Restricted Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2017 505,000 $ 17.05 Granted 248,000 17.89 Vested 284,000 16.61 Forfeited or canceled 6,000 16.99 Outstanding at October 1, 2017 463,000 $ 17.77 As of October 1, 2017, $5.0 2020. Performance Share Awards In 2017 , the Company issued awards of performance shares to certain employees. These awards vest based on the achievement of certain performance-based goals over a performance period of one three may may 200% The following table summarizes the performance shares outstanding as of October 1, 2017, nine Performance Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2017 368,500 $ 17.20 Granted 354,000 17.80 Vested 31,000 17.22 Forfeited or canceled 22,000 17.29 Outstanding at October 1, 2017 669,500 $ 17.51 Compensation expense related to the performance shares for the nine October 1, 2017 $2.4 $6.2 October 1, 2017.

Note 6 - Employee Benefit Plans

Note 6 - Employee Benefit Plans	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 6 The following tables provide the components of net periodic benefit cost for the three and nine October 1, 2017, October 2, 2016, Three Months Ended Nine Months Ended Defined Benefit Retirement Plan s (Europe) Oct. 1 , 201 7 Oct. 2, 2016 Oct. 1 , 201 7 Oct. 2, 2016 (In thousands) (In thousands) Service cost $ 423 $ 260 $ 1,204 $ 781 Interest cost 1,426 1,610 4,138 5,058 Expected return on assets (1,697 ) (1,876 ) (4,920 ) (5,880 ) Amortization of prior service costs 9 9 26 27 Recognized net actuarial losses 318 169 930 537 Net periodic benefit cost $ 479 $ 172 $ 1,378 $ 523 Three Months Ended Nine Months Ended Salary Continuation Plan (SCP) Oct. 1, 2017 Oct. 2, 2016 Oct. 1, 2017 Oct. 2, 2016 (In thousands) (In thousands) Service cost $ 0 $ 110 $ 0 $ 330 Interest cost 314 317 942 952 Amortization of loss 91 203 273 608 Net periodic benefit cost $ 405 $ 630 $ 1,215 $ 1,890

Note 7 - Segment Information

Note 7 - Segment Information	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 7 – SEGMENT INFORMATION Based on applicable accounting standards, the Company has determined that it has three – namely, the Americas, Europe and Asia-Pacific geographic regions. Pursuant to accounting standards, the Company has aggregated the three one While the Company operates as one AMERICAS EUROPE ASIA-PACIFIC TOTAL Three Months Ended October 1, 2017 : Net Sales $ 148,082 $ 66,677 $ 42,672 $ 257,431 Depreciation and amortization 3,386 1,646 2,211 7,243 Total assets 274,946 255,330 186,966 717,242 Three Months Ended October 2, 2016 : Net Sales $ 147,500 $ 62,682 $ 38,167 $ 248,349 Depreciation and amortization 3,635 1,253 2,213 7,101 Nine Months Ended October 1, 2017 : Net Sales $ 433,461 $ 180,506 $ 116,266 $ 730,233 Depreciation and amortization 10,064 4,257 6,458 20,779 Nine Months Ended October 2, 2016 : Net Sales $ 426,677 $ 181,904 $ 110,529 $ 719,110 Depreciation and amortization 10,903 3,824 6,598 21,325 A reconciliation of the Company ’s total operating segment depreciation and amortization, and assets to the corresponding consolidated amounts follows: Three Months Ended DEPRECIATION AND AMORTIZATION October 1, 2017 October 2, 2016 (In thousands) Total segment depreciation and amortization $ 7,243 $ 7,101 Corporate depreciation and amortization 539 413 Reported depreciation and amortization $ 7,782 $ 7,514 Nine Months Ended DEPRECIATION AND AMORTIZATION October 1, 2017 October 2, 2016 (In thousands) Total segment depreciation and amortization $ 20,779 $ 21,325 Corporate depreciation and amortization 1,424 1,149 Reported depreciation and amortization $ 22,203 $ 22,474 ASSETS October 1, 2017 (In thousands) Total segment assets $ 717,242 Corporate assets and eliminations 85,157 Reported total assets $ 802,399

Note 8 - Supplemental Cash Flow

Note 8 - Supplemental Cash Flow Information	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 8 Cash payments for interes t amounted to $4.6 $4.0 nine October 1, 2017 October 2, 2016, $14.8 $9.9 nine October 1, 2017 October 2, 2016,

Note 9 - Recently Issued Accoun

Note 9 - Recently Issued Accounting Pronouncements	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 9 In May 2014, FASB”) issued an accounting standard regarding recognition of revenue from contracts with customers that will supersede the existing revenue recognition under U.S. GAAP. In summary, the core principle of this standard, along with amendments in 2015 2016, December 15, 2017, 95% not not 6% 5 not In July 2015, December 15, 2016, did not In November 2015, sdiction will only have one not may December 15, 2016, first 2017, $10.0 $5.9 $4.1 2016 In March 2016, income tax consequences, classification of awards as either equity or liabilities, and the classification on the statement of cash flows. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest, which is the current U.S. GAAP practice, or account for forfeitures when they occur. This update will be effective for fiscal periods beginning after December 15, 2016, $5.8 first 2017. not first 2017, $4.6 first 2016 In February 2016, ) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 December 15, 2018, In March 2017, a new accounting standard regarding the treatment of net periodic benefit costs. This standard will require segregation of these net benefit costs between operating and non-operating expenses. Currently, the Company reports the net benefit costs associated with its defined benefit plans as a component of operating income. The new standard is effective for fiscal years beginning after December 15, 2017, 2018 2017, no

Note 10 - Income Taxes

Note 10 - Income Taxes	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 1 0 Accounting standards require that all tax positions be analyzed using a two first not second , that is more-likely-than- not first nine 2017, $0.8 October 1, 2017, $28.7 October 1, 2017 $3.3

Note 11 - Items Reclassified Fr

Note 11 - Items Reclassified From Other Comprehensive Income	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Reclassifications [Text Block]	NOTE 1 1 During the first nine 2017, not $1.2

Note 12 - Repurchase of Common

Note 12 - Repurchase of Common Stock	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 1 2 In the fourth 2014, 500,000 2014 second 2016, $50 no first three 2017, 1,601,896 $19.36 $50 In the second 2017, adopted a new share repurchase program in which the Company is authorized to repurchase up to $100 no second third 2017, 2,575,847 $19.38

Note 13 - Restructuring and Ass

Note 13 - Restructuring and Asset Impairment Charges	9 Months Ended
	Oct. 01, 2017
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	NOTE 13 – RESTRUCTURING AND ASSET IMPAIRMENT CHARGES 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 In the first 2017, $7.3 first 2017. first 2017 $3.4 $3.3 $0.6 A summary of these restructuring activities is presented below: Total Restructuring Charge Costs Incurred in 2016 Costs Incurred in 201 7 Balance at October 1 , 2017 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,537 $ 2,664 Asset Impairment 11,319 8,019 3,300 0 Lease Exit Costs 5,116 27 5,027 62

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	9 Months Ended
	Oct. 01, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	O ct. 1 , 201 7 Jan. 1, 2017 (In thousands) Finished Goods $ 123,708 $ 104,742 Work in Process 13,046 8,711 Raw Materials 49,372 42,630 $ 186,126 $ 156,083

Note 3 - Earnings Per Share (Ta

Note 3 - Earnings Per Share (Tables)	9 Months Ended
	Oct. 01, 2017
Notes Tables
Distributed And Undistributed Earnings [Table Text Block]	Three Months Ended Nine Months Ended Oct. 1, 2017 Oct. 2, 2016 Oct. 1, 2017 Oct. 2, 2016 Earnings Per Share Basic Earnings Per Share Distributed Earnings $ 0.07 $ 0.06 $ 0.19 $ 0.10 Undistributed Earnings 0.25 0.19 0.59 0.66 Total $ 0.32 $ 0.25 $ 0.78 $ 0.76 Diluted Earnings Per Share Distributed Earnings $ 0.07 $ 0.06 $ 0.19 $ 0.10 Undistributed Earnings 0.25 0.19 0.59 0.66 Total $ 0.32 $ 0.25 $ 0.78 $ 0.76 Basic Earnin gs Per Share $ 0.32 $ 0.25 $ 0.78 $ 0.76 Diluted Earnings Per Share $ 0.32 $ 0.25 $ 0.78 $ 0.76
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended N i ne Months Ended Oct. 1 , 201 7 Oct. 2, 2016 Oct. 1, 2017 Oct. 2 , 201 6 ( I n millions) Net Income Attributable to Participating Securities $ 0.1 $ 0.1 $ 0.4 $ 0.4 Three Months Ended N i ne Months Ended Oct. 1, 2017 Oct. 2, 2016 Oct. 1, 2017 Oct. 2, 2016 (In thousands) Weighted Average Shares Outstanding 60,555 64,241 62,167 64,721 Participating Securities 463 564 463 564 Shares for Basic Earnings Per Share 61,018 64,805 62,630 65,285 Dilutive Effect of Stock Options 42 37 42 37 Shares for Diluted Earnings Per Share 61,060 64,842 62,672 65,322

Note 5 - Stock-based Compensa21

Note 5 - Stock-based Compensation (Tables)	9 Months Ended
	Oct. 01, 2017
Notes Tables
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	Restricted Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2017 505,000 $ 17.05 Granted 248,000 17.89 Vested 284,000 16.61 Forfeited or canceled 6,000 16.99 Outstanding at October 1, 2017 463,000 $ 17.77
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	Performance Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2017 368,500 $ 17.20 Granted 354,000 17.80 Vested 31,000 17.22 Forfeited or canceled 22,000 17.29 Outstanding at October 1, 2017 669,500 $ 17.51

Note 6 - Employee Benefit Pla22

Note 6 - Employee Benefit Plans (Tables)	9 Months Ended
	Oct. 01, 2017
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Nine Months Ended Defined Benefit Retirement Plan s (Europe) Oct. 1 , 201 7 Oct. 2, 2016 Oct. 1 , 201 7 Oct. 2, 2016 (In thousands) (In thousands) Service cost $ 423 $ 260 $ 1,204 $ 781 Interest cost 1,426 1,610 4,138 5,058 Expected return on assets (1,697 ) (1,876 ) (4,920 ) (5,880 ) Amortization of prior service costs 9 9 26 27 Recognized net actuarial losses 318 169 930 537 Net periodic benefit cost $ 479 $ 172 $ 1,378 $ 523 Three Months Ended Nine Months Ended Salary Continuation Plan (SCP) Oct. 1, 2017 Oct. 2, 2016 Oct. 1, 2017 Oct. 2, 2016 (In thousands) (In thousands) Service cost $ 0 $ 110 $ 0 $ 330 Interest cost 314 317 942 952 Amortization of loss 91 203 273 608 Net periodic benefit cost $ 405 $ 630 $ 1,215 $ 1,890

Note 7 - Segment Information (T

Note 7 - Segment Information (Tables)	9 Months Ended
	Oct. 01, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	AMERICAS EUROPE ASIA-PACIFIC TOTAL Three Months Ended October 1, 2017 : Net Sales $ 148,082 $ 66,677 $ 42,672 $ 257,431 Depreciation and amortization 3,386 1,646 2,211 7,243 Total assets 274,946 255,330 186,966 717,242 Three Months Ended October 2, 2016 : Net Sales $ 147,500 $ 62,682 $ 38,167 $ 248,349 Depreciation and amortization 3,635 1,253 2,213 7,101 Nine Months Ended October 1, 2017 : Net Sales $ 433,461 $ 180,506 $ 116,266 $ 730,233 Depreciation and amortization 10,064 4,257 6,458 20,779 Nine Months Ended October 2, 2016 : Net Sales $ 426,677 $ 181,904 $ 110,529 $ 719,110 Depreciation and amortization 10,903 3,824 6,598 21,325
Reconciliation of Depreciation, Amortization, and Assets from Segments to Consolidated [Table Text Block]	Three Months Ended DEPRECIATION AND AMORTIZATION October 1, 2017 October 2, 2016 (In thousands) Total segment depreciation and amortization $ 7,243 $ 7,101 Corporate depreciation and amortization 539 413 Reported depreciation and amortization $ 7,782 $ 7,514 Nine Months Ended DEPRECIATION AND AMORTIZATION October 1, 2017 October 2, 2016 (In thousands) Total segment depreciation and amortization $ 20,779 $ 21,325 Corporate depreciation and amortization 1,424 1,149 Reported depreciation and amortization $ 22,203 $ 22,474
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	ASSETS October 1, 2017 (In thousands) Total segment assets $ 717,242 Corporate assets and eliminations 85,157 Reported total assets $ 802,399

Note 13 - Restructuring and A24

Note 13 - Restructuring and Asset Impairment Charges (Tables)	9 Months Ended
	Oct. 01, 2017
Notes Tables
Restructuring and Related Costs [Table Text Block]	Total Restructuring Charge Costs Incurred in 2016 Costs Incurred in 201 7 Balance at October 1 , 2017 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,537 $ 2,664 Asset Impairment 11,319 8,019 3,300 0 Lease Exit Costs 5,116 27 5,027 62

Note 2 - Inventories - Schedule

Note 2 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Jan. 01, 2017
Finished Goods	$ 123,708	$ 104,742
Work in Process	13,046	8,711
Raw Materials	49,372	42,630
Inventory, net	$ 186,126	$ 156,083

Note 3 - Earnings Per Share (De

Note 3 - Earnings Per Share (Details Textual) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	0

Note 3 - Earnings Per Share - D

Note 3 - Earnings Per Share - Distributed and Undistributed Earnings (Details) - $ / shares	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Basic Earnings Per Share
Distributed Earnings (in dollars per share)	$ 0.07	$ 0.06	$ 0.19	$ 0.10
Undistributed Earnings (in dollars per share)	0.25	0.19	0.59	0.66
Total (in dollars per share)	0.32	0.25	0.78	0.76
Diluted Earnings Per Share
Distributed Earnings (in dollars per share)	0.07	0.06	0.19	0.10
Undistributed Earnings (in dollars per share)	0.25	0.19	0.59	0.66
Total (in dollars per share)	0.32	0.25	0.78	0.76
Basic Earnings Per Share (in dollars per share)	0.32	0.25	0.78	0.76
Diluted Earnings Per Share (in dollars per share)	$ 0.32	$ 0.25	$ 0.78	$ 0.76

Note 3 - Earnings Per Share - C

Note 3 - Earnings Per Share - Calculation of Income (Loss) Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Net Income	$ 19,439	$ 15,904	$ 48,924	$ 49,455
Weighted Average Shares Outstanding (in shares)	60,555	64,241	62,167	64,721
Participating Securities (in shares)	463	564	463	564
Shares for Basic Earnings Per Share (in shares)	61,018	64,805	62,630	65,285
Dilutive Effect of Stock Options (in shares)	42	37	42	37
Shares for Diluted Earnings Per Share (in shares)	61,060	64,842	62,672	65,322
Participating Securities [Member]
Net Income	$ 100	$ 100	$ 400	$ 400

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2017USD ($)	Oct. 01, 2017USD ($)
Interest Rate Swap [Member]
Derivative, Notional Amount	$ 100,000	$ 100,000
Interest Rate Swap [Member] | Accrued Liabilities, Current [Member]
Derivative Liability, Fair Value, Gross Liability	200	200
Interest Rate Swap [Member] | Other Nonoperating Income (Expense) [Member]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	0
Syndicated Facility Agreement [Member]
Long-term Line of Credit	173,800	173,800
Letters of Credit Outstanding, Amount	$ 6,000	$ 6,000
Long-term Debt, Weighted Average Interest Rate, at Point in Time	2.60%	2.60%
Debt Instrument, Periodic Payment	$ 3,750
Revolving Credit Facility [Member]
Long-term Line of Credit	60,800	$ 60,800
Other Line Of Credit [Member]
Long-term Line of Credit	0	0
Line of Credit Facility, Maximum Borrowing Capacity	$ 9,800	$ 9,800
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 5 - Stock-based Compensa30

Note 5 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended			12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2016	Jan. 01, 2017	Jan. 02, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0			0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	82,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 8.53
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	5,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	1,100
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	0		$ 0
Restricted Stock [Member]
Allocated Share-based Compensation Expense	$ 2,000	$ 2,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	248,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 5,000
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares [Member]
Allocated Share-based Compensation Expense	$ 2,400
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	354,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 6,200
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%
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

Note 5 - Stock-based Compensa31

Note 5 - Stock-based Compensation - Restricted Stock Outstanding (Details) - Restricted Stock [Member]	9 Months Ended
	Oct. 01, 2017$ / sharesshares
Outstanding at January 1, 2017 (in shares) | shares	505,000
Outstanding at January 1, 2017 (in dollars per share) | $ / shares	$ 17.05
Granted (in shares) | shares	248,000
Granted (in dollars per share) | $ / shares	$ 17.89
Vested (in shares) | shares	284,000
Vested (in dollars per share) | $ / shares	$ 16.61
Forfeited or canceled (in shares) | shares	6,000
Forfeited or canceled (in dollars per share) | $ / shares	$ 16.99
Outstanding at October 1, 2017 (in shares) | shares	463,000
Outstanding at October 1, 2017 (in dollars per share) | $ / shares	$ 17.77

Note 5 - Stock-based Compensa32

Note 5 - Stock-based Compensation - Performance Shares Outstanding (Details) - Performance Shares [Member]	9 Months Ended
	Oct. 01, 2017$ / sharesshares
Outstanding at January 1, 2017 (in shares) | shares	368,500
Outstanding at January 1, 2017 (in dollars per share) | $ / shares	$ 17.20
Granted (in shares) | shares	354,000
Granted (in dollars per share) | $ / shares	$ 17.80
Vested (in shares) | shares	31,000
Vested (in dollars per share) | $ / shares	$ 17.22
Forfeited or canceled (in shares) | shares	22,000
Forfeited or canceled (in dollars per share) | $ / shares	$ 17.29
Outstanding at October 1, 2017 (in shares) | shares	669,500
Outstanding at October 1, 2017 (in dollars per share) | $ / shares	$ 17.51

Note 6 - Employee Benefit Pla33

Note 6 - Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Pension Plan [Member] | Foreign Plan [Member]
Service cost	$ 423	$ 260	$ 1,204	$ 781
Interest cost	1,426	1,610	4,138	5,058
Expected return on assets	(1,697)	(1,876)	(4,920)	(5,880)
Amortization of prior service costs	9	9	26	27
Recognized net actuarial losses	318	169	930	537
Net periodic benefit cost	479	172	1,378	523
Salary Continuation Plan [Member] | Domestic Plan [Member]
Service cost	0	110	0	330
Interest cost	314	317	942	952
Recognized net actuarial losses	91	203	273	608
Net periodic benefit cost	$ 405	$ 630	$ 1,215	$ 1,890

Note 7 - Segment Information (D

Note 7 - Segment Information (Details Textual)	9 Months Ended
	Oct. 01, 2017
Number of Operating Segments	3
Number of Reportable Segments	1

Note 7 - Segment Information -

Note 7 - Segment Information - Operating Segment Summary Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016	Jan. 01, 2017
Net Sales	$ 257,431	$ 248,349	$ 730,233	$ 719,110
Depreciation and Amortization	7,782	7,514	22,203	22,474
Assets	802,399		802,399		$ 835,439
Operating Segments [Member]
Net Sales	257,431	248,349	730,233	719,110
Depreciation and Amortization	7,243	7,101	20,779	21,325
Assets	717,242		717,242
Americas [Member]
Net Sales	148,082	147,500	433,461	426,677
Depreciation and Amortization	3,386	3,635	10,064	10,903
Assets	274,946		274,946
Europe [Member]
Net Sales	66,677	62,682	180,506	181,904
Depreciation and Amortization	1,646	1,253	4,257	3,824
Assets	255,330		255,330
Asia Pacific [Member]
Net Sales	42,672	38,167	116,266	110,529
Depreciation and Amortization	2,211	$ 2,213	6,458	$ 6,598
Assets	$ 186,966		$ 186,966

Note 7 - Segment Information 36

Note 7 - Segment Information - Reconciliation of Segment Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016	Oct. 01, 2017	Oct. 02, 2016
Depreciation and amortization	$ 7,782	$ 7,514	$ 22,203	$ 22,474
Operating Segments [Member]
Depreciation and amortization	7,243	7,101	20,779	21,325
Corporate, Non-Segment [Member]
Depreciation and amortization	$ 539	$ 413	$ 1,424	$ 1,149

Note 7 - Segment Information 37

Note 7 - Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Oct. 01, 2017	Jan. 01, 2017
Assets	$ 802,399	$ 835,439
Operating Segments [Member]
Assets	717,242
Corporate, Non-Segment [Member]
Assets	$ 85,157

Note 8 - Supplemental Cash Fl38

Note 8 - Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Interest Paid	$ 4.6	$ 4
Income Taxes Paid	$ 14.8	$ 9.9

Note 9 - Recently Issued Acco39

Note 9 - Recently Issued Accounting Pronouncements (Details Textual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Apr. 02, 2017	Oct. 01, 2017
Reclassification from Current Deferred Tax Assets to Noncurrent Deferred Tax Assets [Member] | Fiscal Year End January 1, 2017 [Member]
Prior Period Reclassification Adjustment	$ 10
Reclassification from Current Deferred Tax Assets and Noncurrent Deferred Tax Liabilities to Noncurrent Deferred Tax Assets [Member] | Fiscal Year End January 1, 2017 [Member]
Prior Period Reclassification Adjustment	5.9
Rreclassification from Noncurrent Deferred Tax Liabilities to Noncurrent Deferred Tax Assets [Member] | Fiscal Year End January 1, 2017 [Member]
Prior Period Reclassification Adjustment	4.1
Accounting Standards Update 2016-09 [Member]
Deferred Tax Assets, Gross	5.8
Cumulative Effect of New Accounting Principle in Period of Adoption	5.8
Reclassification of Tax Withholdings from Cash from Operating Activities to Cash from Financing Activities [Member] | April 3, 2016 [Member]
Prior Period Reclassification Adjustment	$ 4.6
Sales Revenue, Net [Member] | Product Concentration Risk [Member] | Carpet, Hard Surface Flooring and Related Products [Member]
Concentration Risk, Percentage		95.00%

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) $ in Millions	9 Months Ended
	Oct. 01, 2017USD ($)
Unrecognized Tax Benefits, Period Increase (Decrease)	$ 0.8
Unrecognized Tax Benefits	28.7
Increase (Decrease) in Deferred Tax Assets	$ (3.3)

Note 11 - Items Reclassified 41

Note 11 - Items Reclassified From Other Comprehensive Income (Details Textual) $ in Millions	9 Months Ended
	Oct. 01, 2017USD ($)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	$ 1.2

Note 12 - Repurchase of Commo42

Note 12 - Repurchase of Common Stock (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Apr. 02, 2017	Oct. 01, 2017	Jul. 02, 2017	Jul. 03, 2016	Dec. 28, 2014
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					500,000
Stock Repurchase Program, Authorized Amount			$ 100	$ 50
Treasury Stock, Shares, Acquired	1,601,896	2,575,847
Treasury Stock Acquired, Average Cost Per Share	$ 19.36	$ 19.38
Treasury Stock, Shares, Retired	1,601,896	2,575,847

Note 13 - Restructuring and A43

Note 13 - Restructuring and Asset Impairment Charges (Details Textual) - Restructuring Charge 2014 [Member] $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 02, 2017USD ($)	Jan. 01, 2017USD ($)	Oct. 01, 2017USD ($)
Restructuring and Related Cost, Number of Positions Eliminated		70
Restructuring Charges	$ 7,300	$ 19,800
Other Restructuring [Member]
Restructuring Charges	3,400		$ 5,116
Fixed Asset Impairment [Member]
Restructuring Charges	3,300		11,319
Employee Severance [Member]
Restructuring Charges	$ 600		$ 10,652

Note 13 - Restructuring and A44

Note 13 - Restructuring and Asset Impairment Charges - Restructuring Activities (Details) - Restructuring Charge 2014 [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Apr. 02, 2017	Jan. 01, 2017	Oct. 01, 2017	Oct. 01, 2017
Total restructuring charge	$ 7,300	$ 19,800
Employee Severance [Member]
Total restructuring charge	600			$ 10,652
Cost incurred		1,451	$ 6,537
Balance			2,664	2,664
Fixed Asset Impairment [Member]
Total restructuring charge	3,300			11,319
Cost incurred		8,019	3,300
Balance			0	0
Other Restructuring [Member]
Total restructuring charge	$ 3,400			5,116
Cost incurred		$ 27	5,027
Balance			$ 62	$ 62