Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 18, 2018 | Jun. 30, 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) | 59,337,559 | ||
Entity Public Float | $ 1,215,708,813 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
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 | |||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | ||
Net sales | [1] | $ 996,443 | $ 958,617 | $ 1,001,863 |
Cost of sales | 610,422 | 589,973 | 618,974 | |
Gross profit on sales | 386,021 | 368,644 | 382,889 | |
Selling, general and administrative expenses | 268,878 | 263,919 | 269,296 | |
Restructuring and asset impairment charges | 7,299 | 19,788 | 0 | |
Operating income | 109,844 | 84,937 | 113,593 | |
Interest expense | 7,128 | 6,130 | 6,401 | |
Other expense (income) | 2,177 | (329) | 1,426 | |
Income before income tax expense | 100,539 | 79,136 | 105,766 | |
Income tax expense | 47,293 | 24,974 | 33,348 | |
Net income | $ 53,246 | $ 54,162 | $ 72,418 | |
Net income per share – basic (in dollars per share) | $ 0.86 | $ 0.83 | $ 1.10 | |
Net income per share – diluted (in dollars per share) | $ 0.86 | $ 0.83 | $ 1.10 | |
Basic weighted average common shares outstanding (in shares) | 61,996 | 65,098 | 66,027 | |
Diluted weighted average common shares outstanding (in shares) | 62,040 | 65,136 | 66,075 | |
[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 | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Net income | $ 53,246 | $ 54,162 | $ 72,418 |
Other comprehensive income (loss), after tax | |||
Foreign currency translation adjustment | 31,579 | (19,011) | (32,575) |
Cash flow hedge change in net unrealized gains (losses) | 904 | 0 | 0 |
Pension liability adjustment | (1,692) | (11,572) | 6,072 |
Comprehensive income | $ 84,037 | $ 23,579 | $ 45,915 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Jan. 01, 2017 | |
ASSETS | |||
Cash and cash equivalents | $ 87,037 | $ 165,672 | |
Accounts receivable, net | 142,808 | 126,004 | |
Inventories, net | 177,935 | 156,083 | |
Prepaid expenses and other current assets | 23,087 | 23,123 | |
Total current assets | 430,867 | 470,882 | |
Property and equipment, net | [1] | 212,645 | 204,508 |
Deferred tax asset | 18,003 | 33,117 | |
Goodwill, net | 68,754 | 61,218 | |
Other assets | 70,331 | 65,714 | |
Total assets | 800,600 | 835,439 | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
Accounts payable | 50,672 | 45,380 | |
Accrued expenses | 110,974 | 98,703 | |
Current portion of long-term debt | 15,000 | 15,000 | |
Total current liabilities | 176,646 | 159,083 | |
Long term debt | 214,928 | 255,347 | |
Deferred income taxes | 6,935 | 4,728 | |
Other | 72,000 | 75,552 | |
Total liabilities | 470,509 | 494,710 | |
Commitments and contingencies | |||
Shareholders’ equity | |||
Preferred stock | 0 | 0 | |
Common stock | 5,981 | 6,424 | |
Additional paid-in capital | 271,271 | 359,451 | |
Retained earnings | 187,432 | 140,238 | |
Accumulated other comprehensive loss – foreign currency translation | (78,943) | (110,522) | |
Accumulated other comprehensive income – cash flow hedge | 904 | 0 | |
Accumulated other comprehensive loss – pension liability | (56,554) | (54,862) | |
Total shareholders’ equity | 330,091 | 340,729 | |
Total liabilities and shareholders’ equity | $ 800,600 | $ 835,439 | |
[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 | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
OPERATING ACTIVITIES: | |||
Net income | $ 53,246 | $ 54,162 | $ 72,418 |
Adjustments to reconcile income to cash provided by operating activities | |||
Depreciation and amortization | 30,261 | 30,632 | 30,803 |
Stock compensation amortization expense | 7,247 | 5,873 | 13,948 |
Enactment of U.S. Tax Cuts and Jobs Act expenses | 15,174 | 0 | 0 |
Bad debt expense | 219 | 145 | 763 |
Deferred income taxes and other | 8,154 | 468 | 9,052 |
Working capital changes: | |||
Accounts receivable | (10,313) | (372) | 18,738 |
Inventories | (13,629) | 2,686 | (26,452) |
Prepaid expenses and other current assets | 1,019 | (7,720) | (8,332) |
Accounts payable and accrued expenses | 11,975 | 12,184 | 15,512 |
Cash provided by operating activities | 103,353 | 98,058 | 126,450 |
INVESTING ACTIVITIES: | |||
Capital expenditures | (30,474) | (28,071) | (27,188) |
Other | (614) | 1,642 | 731 |
Cash used in investing activities | (31,088) | (26,429) | (26,457) |
FINANCING ACTIVITIES: | |||
Credit facility borrowing | 25,000 | 87,400 | 0 |
Credit facility repayments | (57,014) | (17,575) | (45,267) |
Term loan repayments | (15,000) | (12,500) | (2,500) |
Repurchase of common stock | (91,576) | (18,496) | (13,306) |
Dividends paid | (15,487) | (14,285) | (11,885) |
Tax Withholding Payments for Share-Based Compensation | (1,479) | (4,895) | (1,015) |
Debt issuance costs | (1,427) | 0 | 0 |
Proceeds from issuance of common stock | 0 | 0 | 359 |
Cash provided by (used in) financing activities | (156,983) | 19,649 | (73,614) |
Net cash provided by (used in) operating, investing and financing activities | (84,718) | 91,278 | 26,379 |
Effect of exchange rate changes on cash | 6,083 | (1,302) | (5,579) |
CASH AND CASH EQUIVALENTS: | |||
Net increase (decrease) | (78,635) | 89,976 | 20,800 |
Balance, beginning of year | 165,672 | 75,696 | 54,896 |
Balance, end of year | $ 87,037 | $ 165,672 | $ 75,696 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations T he Company is a recognized leader in the worldwide commercial interiors market, offering modular carpet and luxury vinyl tile (“LVT”). The Company manufactures modular carpet focusing on the high quality, designer-oriented sector of the market, sources LVT from a third 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 not December 31, 2017 January 1, 2017, not 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 R evenue 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 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 $14.0 $14.3 $14.5 2017, 2016 2015, Cash, Cash Equivalents and Short-Term Investments Highly liquid investments with insignificant interest rate risk and with original maturities of three three one The Company did not December 31, 2017 January 1, 2017. Cash payments for interest amounted to approximately $6.3 $5.5 $4.8 2017, 2016, 2015, $19.1 $12.8 $7.2 2017, 2016 2015, 2017, 2016 2015, $0.1 $0.2 $3.1 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 eithe r 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 b e 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 $0.6 $0.5 $0.3 2017, 2016 2015, $29.5 $30.1 $30.4 2017, 2016, 2015 Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not 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 December 31, 2017 January 1, 2017, $212.6 December 31, 2017 January 1, 2017. As of December 31, 2017, January 1, 2017, $68.8 $61.2 $0.6 $1.0 December 31, 2017 January 1, 2017, 2017, 2016 2015 $0.7 $0.5 $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® no During the fourth 2017, 2016 2015, third one no Each of t he Company’s reporting units maintained fair values in excess of their respective carrying values as of the measurement date, and therefore no December 31, 2017, 10% no The changes in the carrying amount s of goodwill for the year ended December 31, 2017 BALANCE JANUARY 1, 2017 ACQUISITIONS IMPAIRMENT FOREIGN CURRENCY TRANSLATION BALANCE DECEMBER 31, 2017 (in thousands) $ 61,218 $ 0 $ 0 7,536 $ 68,754 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 15 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 $4.1 $5.5 December 31, 2017 January 1, 2017, 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 not The Company does not For uncertain tax positions, the Company applies the provisions of relevant authoritative guidance, which requires application of a “more likely than not” ’s ongoing assessments of the more likely than not 13 Fair Values of Financial Instruments Fair valu es 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 gains (losses) were $31.6 $19.0 $32.6 2017, 2016 2015, 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 T he Company has stock-based employee compensation plans, which are described more fully in Note 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 2017, 2016 2015. The Company recognizes expense related to its restricted stock and performance share grants based on the grant date fair value of the shares awarded, 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 2017, 8 Pension Benefits Net pension expense recorded is based on, among other things, assumptions about the discount rate, estimated return on plan assets and salary increases. While the Company believes these assumptions are reasonable, changes in these and other factors and differences between actual and assumed changes in the present value of liabilities or assets of the Company’s plans above certain thresholds could cause net annual expense to increase or decrease materially from year to year. The actuarial assumptions used in the Company’s salary continuation plan and foreign defined benefit plans reporting are reviewed periodically and compared with external benchmarks to ensure that they appropriately account for our future pension benefit obligation. 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. 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 December 31, 2017, January 1, 2017, 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 Reclassifications Certain prior period amounts have been reclassified to conform to current year financial statement presentation . These reclassifications had no Fiscal Year The Company ’s fiscal year is the 52 53 December 31. “2017,” “2016,” “2015,” December 31, 2017, January 1, 2017, January 3, 2016 2015 53 2017 2016 52 |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS 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 various subsequent amendments, is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the new standard requires enhanced disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including revenue recognition policies to identify performance obligations, assets recognized from costs incurred to obtain and fulfill a contract, and significant judgments in measurements and recognition. The standard, as amended, will be effective for annual periods beginning after December 15, 2017, 95% not not 5% two not not 2017, not expedient regarding the accounting for costs to obtain contracts, as its costs for such contracts are primarily sales commissions which are recognized within a year of the sale of product. The Company will use the modified retrospective method of adoption, but as noted the impact as of year-end was insignificant. Given the nature of the Company’s sales, it currently believes that revenue recognition under the new standard will be mostly consistent under both the current and new standards, with performance obligations being satisfied under the majority of contracts with customers upon shipment or delivery of product. Given the nature of the Company’s revenue there is not In November 2015, ch jurisdiction will only have one not may December 15, 2016, first 2017 $10.0 $5.9 $4.1 In March 2016, ation 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 is effective for fiscal periods beginning after December 15, 2016, $9.4 2017. 13 not first 2017, $4.6 2016 $1.0 2015 In February 2016, n the balance sheet for all leases with terms longer than 12 December 15, 2018, , but the standard will result in the Company recording both assets and liabilities for leases currently classified as operating leases. In January 2017, 2 test. Under the new guidance, impairment charges are recognized to the extent the carrying amount of a reporting unit exceeds its fair value with certain limitations. The new guidance is effective for any annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. not 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, no 2018 $1.9 $2.2 2017 2016, In February 2018, laws or rates with the effect included in income from continuing operations in the reporting period that includes the enactment date. That guidance is applicable even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income (rather than in net income), such as amounts related to benefit plans and hedging activity. As a result, the tax effects of items within accumulated other comprehensive income do not December 15, 2018. |
Note 3 - Receivables
Note 3 - Receivables | 12 Months Ended |
Dec. 31, 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 December 31, 2017, January 1, 2017, $3.5 $3.8 $4.1 $5.5 December 31, 2017 January 1, 2017, |
Note 4 - Fair Value of Financia
Note 4 - Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 4 – FAIR VALUE OF FINANCIAL INSTRUMENTS The Company does not applicable accounting standards as of the end of 2017. $23.7 December 31, 2017, $100 8 |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5 – INVENTORIES Inventories are summarized as follows : END OF FISCAL YEAR 20 17 20 16 (in thousands) Finished goods $ 115,512 $ 104,742 Work-in-process 13,022 8,711 Raw materials 49,401 42,630 Inventory, Net $ 177,935 $ 156,083 Reserves for inventory obsolescence amounted to $20.4 $17.6 December 31, 2017 January 1, 2017, |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Dec. 31, 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 20 17 2016 (in thousands) Land $ 17,743 $ 16,063 Buildings 130,919 121,216 Equipment 371,300 350,539 519,962 487,818 Accumulated depreciation (307,317 ) (283,310 ) Property and Equipment $ 212,645 $ 204,508 The estimated cost to complete construction-in-progress at December 31, 2017, $61.5 |
Note 7 - Accrued Expenses
Note 7 - Accrued Expenses | 12 Months Ended |
Dec. 31, 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 20 17 20 16 (in thousands) Compensation $ 71,760 $ 58,927 Interest 362 114 Restructuring 2,568 10,291 Taxes 19,948 11,467 Accrued purchases 4,569 3,101 Warranty and sales allowances 4,111 5,529 Other 7,656 9,274 Accrued Expenses $ 110,974 $ 98,703 Other non-current liabilities include pension liability of $43.3 $47.3 December 31, 2017 January 1, 2017, 15 |
Note 8 - Borrowings
Note 8 - Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8 – BORROWINGS Syndicated Credit Facility Pursuant to an Amended and Restated Facility Agreement entered into on August 8, 2017, he 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 August 8, 2022. ● The Facility includes a multicurrency revolving loan facility made available to the Company and its principal subsidiaries in Europe and Australia not $250 one $40 ● The Facility includes a Term Loan A borrowing principal that had an original principal amount of $177.5 ● 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 ’s assets and the assets of each of its material domestic subsidiaries, which have guaranteed the Facility. ● The Facility contains financial covenants (specifically, a consolidated net leverage ratio and a consolidated interest coverage ratio) that must be met as of the end of each fiscal quarter. ● The Company has the option to increase the borrowing availability under the Facility, either for revolving loans or term loans, by up to $150 Interest Rates and Fees . Interest on base rate loans is charged at varying rates computed by applying a margin ranging from 0.25% 1.50% 0.50%, 1.25% 2.50% 0.20% 0.35% Amortization Payments $3.75 Covenants . The Facility contains standard and customary covenants for agreements of this type, including various reporting, affirmative and negative covenants. Among other things, these covenants limit the Company’s and its subsidiaries’ ability to: ● create or incur liens on assets; ● make acquisitions of or investments in businesses (in excess of certain specified amounts); ● incur indebtedness or contingent obligations; ● sell or dispose of assets (in excess of certain specified amounts); ● pay dividends or repurchase the Company ’s stock (in excess of certain specified amounts); ● repay other indebtedness prior to maturity unless the Company meets certain conditions; and ● enter into sale and leaseback transactions. The Facility also requires the Company to remain in compliance with the following financial covenants as of the end of each fiscal quarter, based on the Company ’s consolidated results for the year then ended: ● Consolidated Net Leverage Ratio: Must be no 3.75:1.00. ● Consolidated Interest Coverage Ratio: Must be no 2.25:1.00. Events of Default . If the Company breaches or fails to perform any of the affirmative or negative covenants under the Facility, or if other specified events occur (such as a bankruptcy or similar event or a change of control of Interface, Inc. or certain subsidiaries, or if the Company breaches or fails to perform any covenant or agreement contained in any instrument relating to any of the Company’s other indebtedness exceeding $20 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 . Pursuant to an Amended and Restated Security and Pledge Agreement executed on the same date, the Facility is secured by substantially all of the assets of the Company and its domestic subsidiaries (subject to exceptions for certain immaterial subsidiaries), including all of the stock of the Company’s domestic subsidiaries and up to 65% first may, first In December 2016, one y’s foreign subsidiaries borrowed 61 $63.5 2017. As of December 31, 2017, $170.0 $59.9 $6.0 December 31, 2017, 3.0%. 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. Interest Rate Risk Management Shortly after entering into the Amended and Restated Facility Agreement, 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 2017. December 31, 2017 $100 As of December 31, 2017, $0.9 . Other Lines of Credit Subsidiaries of the Company have an aggregate of the equivalent of $9.8 2.5% 6.5%. December 31, 2017, January 1, 2017, 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 $2.3 $1.4 December 31, 2017 January 1, 2017, These amounts are included in other long term assets in the Company’s consolidated balance sheets. The Company amortizes these costs over the life of the related debt. Expenses related to such costs for the years 2017, 2016, 2015 $0.5 Future Maturities The aggregate maturities of borrowings for each of the five 2017 FISCAL YEAR AMOUNT (in thousands) 201 8 $ 15,000 201 9 15,000 20 20 15,000 20 21 15,000 20 22 169,928 Thereafter 0 Total Debt $ 229,928 |
Note 9 - Preferred Stock
Note 9 - Preferred Stock | 12 Months Ended |
Dec. 31, 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 December 31, 2017, January 1, 2017, no Preferred Share Purchase Rights The Company has previously issued one pursuant to a Rights Agreement it entered into in March 2008. one one The Rights may ’s Board of Directors) 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 not 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 B Preferred Stock, together with any other shares of preferred stock then entitled to elect directors, shall have the right, as a single class, to elect one Prior to entering into the March 2008 which expires on March 16, 2018, 1998. |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 10 – SHAREHOLDERS’ EQUITY Prior to March 5, 2012, two – Class A Common Stock and Class B Common Stock. On 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 cash dividends totaling $0.25 2017, $0.22 2016, $0.18 2015, may may As such, the Company may On October 7, 2014, 500,000 shares of common stock per fiscal year, commencing with the 2014 November 19, 2015, 500,000 2016 may November 19, 2015 2016. second 2016, $50 no first three 2017, $50 second 2017, $100 no Pursuant to the above-described programs, the Company has repurchased shares in the past three . During 2015, 650,000 $20.47 2016, 1,177,600 $15.68 2017, 4,628,300 $19.76 December 31, 2017, $39.5 2017. 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 2015 2017. 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 ) SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW HEDGE (in thousands) Balance, at January 1, 2017 64,238 $ 6,424 $ 359,451 $ 140,238 $ (54,862 ) $ (110,522 ) $ 0 Net income 0 0 0 53,246 0 0 0 Stock issuances under employee plans 36 4 508 0 0 0 0 Other issuances of common stock 253 25 4,507 0 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (4,532 ) 0 0 0 0 Cash dividends paid 0 0 0 (15,487 ) 0 0 0 Forfeitures and compensation expense related to stock awards (93 ) (9 ) 5,574 0 0 0 0 Share Repurchases (4,628 ) (463 ) (91,113 ) 0 0 0 0 Pension liability adjustment 0 0 0 0 (1,692 ) 0 0 Foreign currency translation adjustment 0 0 0 0 0 31,579 0 Cash flow hedge unrealized gain (loss) 0 0 0 0 0 0 904 Windfall tax benefit - share-based payment awards 0 0 (3,124 ) 0 0 0 0 Adoption of new accounting standard - share-based payment awards 0 0 0 9,435 0 0 0 Balance, at December 31, 2017 59,806 $ 5,981 $ 271,271 $ 187,432 $ (56,554 ) $ (78,943 ) $ 904 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 100% one five three ten In May 201 5, 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 All outstanding stock options vested prior to 20 15 no 2017, 2016 2015. The following table summarizes stock options outstanding as of December 31, 2017, Shares Weighted Average Exercise Price Outstanding at January 1, 2017 87,500 $ 8.75 Granted 0 0 Exercised 5,000 12.43 Forfeited or cancelled 0 0 Outstanding at December 31, 2017 (a) 82,500 $ 8.53 Exercisable at December 31, 2017 (b) 82,500 $ 8.53 (a) At December 31, 2017, 2.0 (b) At December 31, 2017, 2.0 At December 31, 2017, $1.4 $1.4 The range of exercise prices of the remaining stock options is from $4.31 $13.04 Restricted Stock Awards During fiscal years 2017, 2016 2015, 253,000, 277,000, 597,000 two five Compensation expense related to awards of restricted stock was $2.8 $4.7 $13.9 2017, 2016 2015, no The following table summarizes restricted stock outstanding as of December 31, 2017, Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2017 505,000 $ 17.05 Granted 253,000 17.91 Vested 284,000 16.61 Forfeited or cancelled 6,000 16.99 Outstanding at December 31, 2017 468,000 $ 17.79 As of December 31, 2017, $4.1 2020. 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. Performance Share Awards In 2016 and 2017, one three may may 200% The following table summarizes the performance shares outstanding as of December 31, 2017, 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 December 31, 2017 669,500 $ 17.51 Compensation expense related to the performance shares for 2017 2016 $4.5 $1.2 $6.1 December 31, 2017. No 2015. The tax benefit recognized with respect to restricted stock and performance shares was $2.6 $2.0 2017 2016, |
Note 11 - Income (Loss) Per Sha
Note 11 - Income (Loss) Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 11 – INCOME (LOSS) PER SHARE Th e 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 Fiscal Year 201 7 20 16 20 15 Earnings per share: Basic earnings per share Distributed earnings $ 0.25 $ 0.22 $ 0.18 Undistributed earnings 0.61 0.61 0.92 $ 0.86 $ 0.83 $ 1.10 Diluted earnings per share Distributed earnings $ 0.25 $ 0.22 $ 0.18 Undistributed earnings 0.61 0.61 0.92 $ 0.86 $ 0.83 $ 1.10 The following table presents net income that was attributable to participating securities: Fiscal Year 20 17 201 6 201 5 (in millions) Net income attributable to participating securities $ 0.4 $ 0.4 $ 1.6 The weighted average shares for basic and diluted EPS were as follows: Fiscal Year 201 7 201 6 20 15 (in thousands) Weighted Average Shares Outstanding 61,528 64,593 64,557 Participating Securities 468 505 1,470 Shares for Basic Earnings Per Share 61,996 65,098 66,027 Dilutive Effect of Stock Options 44 38 48 Shares for Diluted Earnings Per Share 62,040 65,136 66,075 For all periods presented, there were no |
Note 12 - Restructuring Charges
Note 12 - Restructuring Charges | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 12 – RESTRUCTURING CHARGE S In the fourth 2016, d (i) a substantial restructuring of the FLOR business model that included closure of its headquarters office and most retail FLOR stores, (ii) a reduction of approximately 70 As a result of this plan, the Company incurred pre-tax restructuring and asset impairment charges of $19.8 fourth 2016 $7.3 first 2017. A summary of these restructuring activities is presented below: Total Restructuring Charge Costs Incurred in 2016 Costs Incurred in 2017 Balance at Dec. 31, 2017 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,633 $ 2,568 Asset Impairment 11,319 8,019 3,300 0 Lease Exit Costs 5,116 27 5,089 0 |
Note 13 - Taxes on Income
Note 13 - Taxes on Income | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 13 – TAXES ON INCOME On December 22, 2017, Tax Act”) was enacted into law. Among the significant changes resulting from the law, the Tax Act reduces the U.S. federal income tax rate from 35% 21% January 1, 2018 one In accordance with GAAP as determined by ASC 740, Income Taxes,” the Company is required to record the effects of tax law changes in the period enacted. On December 22, 2017, not As further discussed below, the Company ’s results for the year ended December 31, 2017 not may not twelve two 2017 one Impacts of Deemed Repatriation: The Tax Act imposed a one 1986 $11.7 one may one December 31, 2017. Remeasurement of Deferred Tax Assets and Liabilities: The Tax Act reduces the U.S. statutory rate from 35% 21% 2017. $3.5 21%. While the Tax Act provides for a modified territorial tax system, beginning in 2018, two “GILTI”) provisions and the base-erosion and anti-abuse tax (“BEAT”) provisions. The GILTI provisions require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The Company does not 2018. not 2018. not December 31, 2017. Provisions for federal, foreign and state income taxes in the consolidated statements of operations consisted of the following components: FISCAL YEAR 2017 2016 2015 (in thousands) Current expense/(benefit): Federal $ 10,245 $ 6,886 $ 1,524 Foreign 11,923 12,934 9,279 State 1,414 1,633 1,403 Current expense 23,582 21,453 12,206 Deferred expense/(benefit): Federal 20,467 6,186 19,971 Foreign 1,214 (1,937 ) 3,795 State 2,030 (728 ) (2,624 ) Deferred expense 23,711 3,521 21,142 Total income tax expense $ 47,293 $ 24,974 $ 33,348 Income before taxes on income consisted of the following: FISCAL YEAR 2017 2016 2015 (in thousands) U.S. operations $ 53,407 $ 38,357 $ 58,318 Foreign operations 47,132 40,779 47,448 Income before taxes $ 100,539 $ 79,136 $ 105,766 Deferred income taxes for the years ended December 31, 2017, January 1, 2017, The Company expects to utilize in its 2017 $23.2 $8.1 $9.0 2016 $3. 2 $3.1 2016 2016 2017. The Company expects to utilize in its 2017 $3.8 The Company had approximately $108.6 2035. $18.5 not 2017, $1.3 $21.4 $57.3 The sources of the temporary differences and their effect on the net deferred tax asset are as follows: 2017 2016 ASSETS LIABILITIES ASSETS LIABILITIES (in thousands) Basis differences of property and equipment $ 0 $ 13,281 $ 0 $ 14,419 Basis difference of intangible assets 0 1,157 978 0 Foreign currency 0 2,597 0 3,216 Net operating loss carryforwards 2,468 0 3,627 0 Valuation allowances on net operating loss carryforwards (1,186 ) 0 (2,500 ) 0 Federal tax credits 3,227 0 5,711 0 Deferred compensation 20,220 0 26,546 0 Basis difference of inventory 634 0 4,009 0 Basis difference of prepaids, accruals and reserves 1,777 0 6,273 0 Pensions 2,408 0 3,435 0 Foreign withholding taxes on unremitted earnings 0 909 0 223 Undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 0 0 0 1,481 Basis difference of other assets and liabilities 0 536 0 351 $ 29,548 $ 18,480 $ 48,079 $ 19,690 Deferred tax assets and liabilities are included in the accompanying balance sheets as follows: FISCAL YEAR 2017 2016 (in thousands) Deferred tax asset (non-current asset) $ 18,003 $ 33,117 Deferred income taxes (non-current liabilities) (6,935 ) (4,728 ) Total net deferred taxes $ 11,068 $ 28,389 M anagement believes, based on the Company’s history of taxable income and expectations for the future, that it is more likely than not December 31, 2017. As of December 31, 2017, January 1, 2017, were reduced by approximately $3.3 $5.0 The Company ’s effective tax rate was 47.0%, 31.6% 31.5% 2017, 2016 2015, 35% FISCAL YEAR 2017 2016 2015 (in thousands) Income taxes at U.S. federal statutory rate $ 35,189 $ 27,698 $ 37,018 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax effect 2,677 1,861 3,003 Non-deductible business expenses 695 538 614 Non-deductible employee compensation 80 361 168 Tax effects of Company owned life insurance (1,295 ) (199 ) 128 Tax effects of Tax Act: One-time transition tax on foreign earnings 11,707 0 0 Remeasurement of net Deferred Tax Asset 3,467 0 0 Tax effects of undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 523 463 458 Foreign and U.S. tax effects attributable to foreign operations (4,537 ) (3,963 ) (3,347 ) Valuation allowance effect – State NOL (858 ) (1,272 ) (3,797 ) Federal tax credits (442 ) (494 ) (352 ) Other 87 (19 ) (545 ) Income tax expense $ 47,293 $ 24,974 $ 33,348 The Company previously considered the earnings in its non-U.S. subsidiaries, excluding subsidiaries within Canada, to be indefinitely reinvested and, accordingly, recorded no transition tax, the Company had approximately $350 The Company has analyzed its global working capital and cash requirements and the potential tax liabilities attributable to a repatriation, and has determined that it will be repatriating approximately $37 U.S. state taxes of $0.6 The Company currently does not $307 not not The Company ’s undistributed earnings from foreign subsidiaries within Canada are not December 31, 2017, $6 $2 $0.3 $2 $0.3 The Company ’s federal income tax returns are subject to examination for the years 2003 2012 2006 As of December 3 1, 2017, January 1, 2017, $29.2 $27.9 $29.2 December 31, 2017 not $25.9 December 31, 2017, $1.6 Management believes changes to our unrecognized tax benefits that are reasonably possible in the next 12 not The timing of the ultimate resolution of the Company’s tax matters and the payment and receipt of related cash is dependent on a number of factors, many of which are outside the Company’s control. A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows : FISCAL YEAR 2017 2016 2015 (in thousands) Balance at beginning of year $ 27,888 $ 28,271 $ 27,301 Increases related to tax positions taken during the current year 627 690 641 Increases related to tax positions taken during the prior years 709 148 1,230 Decreases related to tax positions taken during the prior years 0 (695 ) (194 ) Decreases related to settlements with taxing authorities 0 0 0 Decreases related to lapse of applicable statute of limitations (462 ) (403 ) (367 ) Changes due to foreign currency translation 459 (123 ) ( 340 ) Balance at end of year $ 29,221 $ 27,888 $ 28,271 |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 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 December 31, 2017, one FISCAL YEAR AMOUNT (in thousands) 201 8 $ 16,719 201 9 13,300 20 20 8,489 20 21 5,314 202 2 3,117 Thereafter 15,500 Rental expense amounted to approximately $22.0 $24.5 $24.4 2017, 2016, 2015, The Company is from time to time a party to routine litigation incidental to its business. Management does not ’s financial condition or results of operations. |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 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 “401 with at least six 401 may, 401 $3.0 $3.1 $2.9 2017, 2016, 2015, No 2017, 2016, 2015. 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 $31.9 December 31, 2017. $28.0 December 31, 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 $1.9 $1.2 $2.1 2017, 2016 2015, December 31, 2017, $13.4 $48.0 $15 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 20 17 20 16 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 277,813 $ 243,717 Service cost 1,628 1,032 Interest cost 5,559 6,580 Benefits and expenses paid (10,267 ) (8,551 ) Actuarial loss (gain) 13,351 73,600 Member contributions 262 225 Currency translation adjustment 32,202 (38,790 ) Benefit obligation, end of year $ 320,548 $ 277,813 FISCAL YEAR 2017 2016 (in thousands) Change in plan assets Plan assets, beginning of year $ 258,365 $ 239,281 Actual return on assets 25,691 59,364 Company contributions 2,812 4,991 Benefits paid (10,267 ) (8,552 ) Currency translation adjustment 30,565 (36,719 ) Plan assets, end of year $ 307,166 $ 258,365 Reconciliation to balance sheet Funded status benefit asset/(liability) $ (13,382 ) $ (19,448 ) Net amount recognized $ (13,382 ) $ (19,448 ) Amounts recognized in accumulated other comprehensive income (after tax) Unrecognized actuarial loss $ 48,443 $ 49,547 Unamortized prior service costs (471 ) (311 ) Total amount recognized $ 47,972 $ 49,236 Accumulated Benefit Obligation $ 313,257 $ 274,414 The above disclosure represents the aggregation of information related to the Company ’s two December 31, 2017, January 1, 2017, one December 31, 2017 January 1, 2017. END OF FISCAL YEAR 20 17 20 16 (in thousands) UK Plan Projected Benefit Obligation $ 190,992 $ 171,172 Accumulated Benefit Obligation 190,992 171,172 Plan Assets 179,322 153,132 Dutch Plan Projected Benefit Obligation $ 129,554 $ 106,641 Accumulated Benefit Obligation 122,265 103,242 Plan Assets 127,844 105,233 FISCAL YEAR 2017 2016 2015 (in thousands) Components of net periodic benefit cost Service cost $ 1,628 $ 1,032 $ 1,061 Interest cost 5,559 6,580 8,384 Expected return on plan assets (6,496 ) (7,553 ) (8,764 ) Amortization of prior service cost (34 ) 33 33 Recognized net actuarial (gains)/losses 1,287 1076 1,359 Net periodic benefit cost $ 1,944 $ 1,168 $ 2,073 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 2017. For 20 18, $1.2 2017, $7.0 $5.8 $1.2 2017. FISCAL YEAR 201 7 201 6 201 5 Weighted average assumptions used to determine net periodic benefit cost Discount rate 2.0 % 2.7 % 3.0 % Expected return on plan assets 2.3 % 3.1 % 4.0 % Rate of compensation 1.75 % 2.0 % 2.0 % Weighted average assumptions used to determine benefit obligations Discount rate 2.2 % 2.3 % 3.4 % Rate of compensation 1.75 % 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 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 December 31, 2017 January 1, 2017. Dutch Plan Assets and Indexation Benefit As is common in Dutch pension plans, the Dutch Plan includes a provision for discretionary benefit increases termed “indexation.” The indexation benefit is meant to adjust pension benefits for cost-of-living increases, similar to U.S. consumer price index-based cost-of-living adjustments for U.S. retirement plans. The indexation benefit is not Both the vested benefit amounts as well as amounts related to the discretionary indexation benefits under the Dutch Plan are paid pursuant to an insurance contract with a private insurer (the “Contract”). The Plan itself is financed by investment assets held within the Contract. The Contract guarantees payment of vested amounts, regardless of whether Plan assets held through the Contract are ultimately sufficient to pay vested amounts, and also provides for payment of the indexation amount on a contingent basis if the actual return on Dutch Plan assets is sufficient to pay it. This type of insurance arrangement is common in The Netherlands, although not Because the prior actual and future projected returns on Dutch Plan assets have been determined to be sufficient to provide for the indexation benefit, the Company and the insurer agreed that it was appropriate to provide the indexation benefit under the Contract. The indexation benefit thus becomes an amount payable by the insurer under the Contract, and consequently is recorded as a Plan asset. The corresponding obligation to pay the indexation amount to pensioners thus became a pension liability. As of December 31, 2017, January 1, 2017, $32.7 $32.2 not Under the express terms of the Contract, contract value is the greater of (i) the value of the discounted vested benefits of the Dutch Plan (i.e., the benefit amount guaranteed by the insurance company), and (ii) the fair value of the underlying investment assets held by the insurance company under the Contract. As between those two 2017 2016 not The Company ’s actual weighted average asset allocations for 2017 2016, 2018, FISCAL YEAR 2018 2017 2016 Target Allocation Percentage of Plan Assets at Year End Asset Category: Equity Securities 15% - 20% 16 % 15 % Debt and Debt Securities 35% - 45% 32 % 36 % Other 40% - 50% 52 % 49 % 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 December 31, 2017 January 1, 2017. 3 Pension Plan Assets by Category as of December 31, 2017 Dutch Plan UK Plan Total (in thousands) Level 1 $ 0 $ 87,521 $ 87,521 Level 2 0 68,668 68,668 Level 3 127,844 23,133 150,977 Total $ 127,844 $ 179,322 $ 307,166 Pension Plan Assets by Category as of January 1, 2017 Dutch Plan UK Plan Total (in thousands) Level 1 $ 0 $ 80,048 $ 80,048 Level 2 0 50,364 50,364 Level 3 105,233 22,720 127,953 Total $ 105,233 $ 153,132 $ 258,365 The tables below detail the foreign defined benefit plans ’ assets by asset allocation and fair value hierarchy: 2017 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 48,285 $ 0 $ 0 Debt and Debt Securities 36,780 41,381 19,883 Other (including cash) 2,456 27,287 131,094 $ 87,521 $ 68,668 $ 150,977 201 6 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 37,696 $ 0 $ 0 Debt and Debt Securities 37,175 36,378 19,224 Other (including cash) 5,177 13,986 108,729 $ 80,048 $ 50,364 $ 127,953 With the exception of the Dutch Plan assets as discussed above, the assets identified as level 3 2017 2016 3 2017: 201 7 (in thousands) Balance of level 3 assets, beginning of year $ 127,953 Interest cost 2,633 Benefits paid (3,728 ) Assets transferred in to (out of) Level 3 (2,089 ) Actuarial gain (loss) 8,753 Translation adjustment 17,455 Ending Balance of level 3 assets $ 150,977 During 20 18, $3.3 FISCAL YEAR EXPECTED PAYMENTS (in thousands) 201 8 $ 9,115 201 9 9,334 20 20 9,650 20 21 10,011 20 22 10,257 2023 - 2027 54,661 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 no 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. There is no 2017 no FISCAL YEAR 2017 2016 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 29,700 $ 25,860 Service cost 0 440 Interest cost 1,256 1,269 Benefits paid (1,943 ) (1,012 ) Actuarial loss (gain) 2,906 3,143 Benefit obligation, end of year $ 31,919 $ 29,700 The amounts recognized in the consolidated balance sheets are as follows: 20 17 20 16 (in thousands) Current liabilities $ 2,030 $ 1,890 Non-current liabilities 29,889 27,810 Total benefit obligation $ 31,919 $ 29,700 The components of the amounts in accumulated other comprehensive income, after tax, are as follows: 20 17 20 16 (in thousands) Unrecognized actuarial loss 8,582 $ 5,626 The accumulated benefit obligation related to the SCP was $31.9 $29.7 December 31, 2017 January 1, 2017, 20 17 20 16 20 15 (in thousands, except for assumptions) A ssumptions used to determine net periodic benefit cost Discount rate 3.85 % 4.25 % 4.0 % Rate of compensation - 4.0 % 4.0 % Assumptions used to determine benefit obligations Discount rate 3.5 % 3.85 % 4.25 % Rate of compensation - 4.0 % 4.0 % Components of net periodic benefit cost Service cost $ 0 $ 440 $ 594 Interest cost 1,256 1,269 1,113 Amortization s 364 811 522 Net periodic benefit cost $ 1,620 $ 2,520 $ 2,229 The changes in other comprehensive income during 20 17 $1.7 $2.0 $0.3 $1.3 For 20 18, $0.5 During 20 17, $1.9 FISCAL YEAR EXPECTED PAYMENTS (in thousands) 20 18 $ 2,030 20 19 2,030 20 20 2,030 20 21 2,030 202 2 2,030 2023 - 2027 9,990 |
Note 16 - Enterprise-wide Discl
Note 16 - Enterprise-wide Disclosures | 12 Months Ended |
Dec. 31, 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 – 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 Summary information by operating segment follows: AMERICAS EUROPE ASIA- PACIFIC TOTAL (in thousands) 201 7 Net Sales $ 588,052 $ 246,399 $ 161,992 $ 996,443 Depreciation and amortization 13,548 6,049 8,662 28,259 Total assets 272,883 253,519 193,555 719,957 201 6 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 20 15 Net Sales $ 593,163 $ 262,671 $ 146,029 $ 1,001,863 Depreciation and amortization 15,390 5,007 9,167 29,564 A reconciliation of the Company ’s total operating segment depreciation and amortization, and assets to the corresponding consolidated amounts follows: FISCAL YEAR ENDED 2 017 201 6 2 015 (in thousands) DEPRECIATION AND AMORTIZATION Total segment depreciation and amortization $ 28,259 $ 29,066 $ 29,564 Corporate depreciation and amortization 2,002 1,566 1,239 Reported depreciation and amortization $ 30,261 $ 30,632 $ 30,803 ASSETS Total segment assets $ 719,957 $ 737,399 Corporate assets and eliminations 80,643 98,040 Reported total assets $ 800,600 $ 835,439 The Company has a large and diverse customer base, which includes numerous customers located in foreign countries. No 10% three 2017, 2016 2015 48%, 48% 48%, no one 10% FISCAL YEAR 20 17 20 16 20 15 (in thousands) SALES TO UNAFFILIATED CUSTOMERS (1) United States $ 514,783 $ 501,206 $ 520,375 United Kingdom 57,391 58,266 72,445 Australia 87,591 78,141 76,600 Other foreign countries 336,678 321,004 332,443 Net sales $ 996,443 $ 958,617 $ 1,001,863 LONG-LIVED ASSETS (2) United States $ 76,557 $ 79,365 United Kingdom 7,902 8,122 Netherlands 55,132 43,907 Australia 45,067 44,209 Thailand 16,543 16,645 China 8,361 9,675 Other foreign countries 3,083 2,585 Total long-lived assets $ 212,645 $ 204,508 ( 1 Revenue attributed to geographic areas is based on the location of the customer. ( 2 Long-lived assets include tangible assets physically located in foreign countries. |
Note 17 - Quarterly Data and Sh
Note 17 - Quarterly Data and Share Information (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 1 7 QUARTERLY DATA AND SHARE INFORMATION (UNAUDITED) The following table s 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 201 7 FIRST QUARTER (1) SECOND QUARTER THIRD QUARTER FOURTH QUARTER ( 2 ) (in thousands, except per share data) Net sales $ 221,102 $ 251,700 $ 257,431 $ 266,210 Gross profit 87,802 97,897 98,544 101,778 Net income 8,547 20,938 19,439 4,322 Basic income per share $ 0.13 $ 0.33 $ 0.32 $ 0.07 Diluted income per share $ 0.13 $ 0.33 $ 0.32 $ 0.07 Share prices High $ 19.93 $ 21.05 $ 22.60 $ 25.70 Low $ 17.18 $ 18.15 $ 18.30 $ 21.21 ( 1 Re sults for the first 2017 $7.3 ( 2 Results for the fourth 2017 $15.2 FISCAL YEAR 20 16 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 Results for the fourth 2016 $19.8 |
Note 18 - Items Reclassified Fr
Note 18 - Items Reclassified From Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | NOTE 18 – ITEMS RECLASSIFIED FROM OTHER COMPREHENSIVE INCOME During 201 7, not $1.6 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts and Reserves | 12 Months Ended |
Dec. 31, 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: December 31, 2017 $ 3,780 $ 635 $ 0 $ 922 $ 3,493 January 1, 2017 4,479 (243 ) 0 456 3,780 January 3, 2016 5,896 212 0 1,629 4,479 ______________ (A) Includes changes in foreign currency exchange rates. (B) Wri te 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: December 31, 2017 $ 10,291 $ 3,999 $ 3,300 $ 3,724 $ 2,568 January 1, 2017 104 11,769 8,019 1,582 10,291 January 3, 2016 7,179 (481 ) 0 6,594 104 ______________ (A) Includes changes in foreign currency exchange rates. (B) Direct reduction of asset carrying value, not (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 : December 31, 2017 $ 5,529 $ 2,071 $ 0 $ 3,489 $ 4,111 January 1, 2017 4,759 3,149 0 2,379 5,529 January 3, 2016 3,954 2,584 0 1,779 4,759 ______________ (A) Includes changes in foreign currency exchange rates. (B) Represents credits and 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 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 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 not December 31, 2017 January 1, 2017, not |
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 R evenue 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 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 $14.0 $14.3 $14.5 2017, 2016 2015, |
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 The Company did not December 31, 2017 January 1, 2017. Cash payments for interest amounted to approximately $6.3 $5.5 $4.8 2017, 2016, 2015, $19.1 $12.8 $7.2 2017, 2016 2015, 2017, 2016 2015, $0.1 $0.2 $3.1 |
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 eithe r 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 b e 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 $0.6 $0.5 $0.3 2017, 2016 2015, $29.5 $30.1 $30.4 2017, 2016, 2015 Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not |
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 December 31, 2017 January 1, 2017, $212.6 December 31, 2017 January 1, 2017. As of December 31, 2017, January 1, 2017, $68.8 $61.2 $0.6 $1.0 December 31, 2017 January 1, 2017, 2017, 2016 2015 $0.7 $0.5 $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® no During the fourth 2017, 2016 2015, third one no Each of t he Company’s reporting units maintained fair values in excess of their respective carrying values as of the measurement date, and therefore no December 31, 2017, 10% no The changes in the carrying amount s of goodwill for the year ended December 31, 2017 BALANCE JANUARY 1, 2017 ACQUISITIONS IMPAIRMENT FOREIGN CURRENCY TRANSLATION BALANCE DECEMBER 31, 2017 (in thousands) $ 61,218 $ 0 $ 0 7,536 $ 68,754 |
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 15 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 $4.1 $5.5 December 31, 2017 January 1, 2017, |
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 not The Company does not For uncertain tax positions, the Company applies the provisions of relevant authoritative guidance, which requires application of a “more likely than not” ’s ongoing assessments of the more likely than not 13 |
Fair Value Measurement, Policy [Policy Text Block] | Fair Values of Financial Instruments Fair valu es 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 gains (losses) were $31.6 $19.0 $32.6 2017, 2016 2015, |
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 T he Company has stock-based employee compensation plans, which are described more fully in Note 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 2017, 2016 2015. The Company recognizes expense related to its restricted stock and performance share grants based on the grant date fair value of the shares awarded, 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 2017, 8 |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pension Benefits Net pension expense recorded is based on, among other things, assumptions about the discount rate, estimated return on plan assets and salary increases. While the Company believes these assumptions are reasonable, changes in these and other factors and differences between actual and assumed changes in the present value of liabilities or assets of the Company’s plans above certain thresholds could cause net annual expense to increase or decrease materially from year to year. The actuarial assumptions used in the Company’s salary continuation plan and foreign defined benefit plans reporting are reviewed periodically and compared with external benchmarks to ensure that they appropriately account for our future pension benefit obligation. 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. |
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 December 31, 2017, January 1, 2017, no |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, 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 |
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 |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year The Company ’s fiscal year is the 52 53 December 31. “2017,” “2016,” “2015,” December 31, 2017, January 1, 2017, January 3, 2016 2015 53 2017 2016 52 |
Note 1 - Summary of Significa26
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | BALANCE JANUARY 1, 2017 ACQUISITIONS IMPAIRMENT FOREIGN CURRENCY TRANSLATION BALANCE DECEMBER 31, 2017 (in thousands) $ 61,218 $ 0 $ 0 7,536 $ 68,754 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | END OF FISCAL YEAR 20 17 20 16 (in thousands) Finished goods $ 115,512 $ 104,742 Work-in-process 13,022 8,711 Raw materials 49,401 42,630 Inventory, Net $ 177,935 $ 156,083 |
Note 6 - Property and Equipme28
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | END OF FISCAL YEAR 20 17 2016 (in thousands) Land $ 17,743 $ 16,063 Buildings 130,919 121,216 Equipment 371,300 350,539 519,962 487,818 Accumulated depreciation (307,317 ) (283,310 ) Property and Equipment $ 212,645 $ 204,508 |
Note 7 - Accrued Expenses (Tabl
Note 7 - Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | END OF FISCAL YEAR 20 17 20 16 (in thousands) Compensation $ 71,760 $ 58,927 Interest 362 114 Restructuring 2,568 10,291 Taxes 19,948 11,467 Accrued purchases 4,569 3,101 Warranty and sales allowances 4,111 5,529 Other 7,656 9,274 Accrued Expenses $ 110,974 $ 98,703 |
Note 8 - Borrowings (Tables)
Note 8 - Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | FISCAL YEAR AMOUNT (in thousands) 201 8 $ 15,000 201 9 15,000 20 20 15,000 20 21 15,000 20 22 169,928 Thereafter 0 Total Debt $ 229,928 |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | 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 ) SHARES AMOUNT ADDITIONAL PAID-IN CAPITAL RETAINED EARNINGS (DEFICIT) PENSION LIABILITY FOREIGN CURRENCY TRANSLATION ADJUSTMENT CASH FLOW HEDGE (in thousands) Balance, at January 1, 2017 64,238 $ 6,424 $ 359,451 $ 140,238 $ (54,862 ) $ (110,522 ) $ 0 Net income 0 0 0 53,246 0 0 0 Stock issuances under employee plans 36 4 508 0 0 0 0 Other issuances of common stock 253 25 4,507 0 0 0 0 Unamortized stock compensation expense related to restricted stock awards 0 0 (4,532 ) 0 0 0 0 Cash dividends paid 0 0 0 (15,487 ) 0 0 0 Forfeitures and compensation expense related to stock awards (93 ) (9 ) 5,574 0 0 0 0 Share Repurchases (4,628 ) (463 ) (91,113 ) 0 0 0 0 Pension liability adjustment 0 0 0 0 (1,692 ) 0 0 Foreign currency translation adjustment 0 0 0 0 0 31,579 0 Cash flow hedge unrealized gain (loss) 0 0 0 0 0 0 904 Windfall tax benefit - share-based payment awards 0 0 (3,124 ) 0 0 0 0 Adoption of new accounting standard - share-based payment awards 0 0 0 9,435 0 0 0 Balance, at December 31, 2017 59,806 $ 5,981 $ 271,271 $ 187,432 $ (56,554 ) $ (78,943 ) $ 904 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted Average Exercise Price Outstanding at January 1, 2017 87,500 $ 8.75 Granted 0 0 Exercised 5,000 12.43 Forfeited or cancelled 0 0 Outstanding at December 31, 2017 (a) 82,500 $ 8.53 Exercisable at December 31, 2017 (b) 82,500 $ 8.53 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value Outstanding at January 1, 2017 505,000 $ 17.05 Granted 253,000 17.91 Vested 284,000 16.61 Forfeited or cancelled 6,000 16.99 Outstanding at December 31, 2017 468,000 $ 17.79 |
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 December 31, 2017 669,500 $ 17.51 |
Note 11 - Income (Loss) Per S32
Note 11 - Income (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Distributed And Undistributed Earnings [Table Text Block] | Fiscal Year 201 7 20 16 20 15 Earnings per share: Basic earnings per share Distributed earnings $ 0.25 $ 0.22 $ 0.18 Undistributed earnings 0.61 0.61 0.92 $ 0.86 $ 0.83 $ 1.10 Diluted earnings per share Distributed earnings $ 0.25 $ 0.22 $ 0.18 Undistributed earnings 0.61 0.61 0.92 $ 0.86 $ 0.83 $ 1.10 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Fiscal Year 20 17 201 6 201 5 (in millions) Net income attributable to participating securities $ 0.4 $ 0.4 $ 1.6 Fiscal Year 201 7 201 6 20 15 (in thousands) Weighted Average Shares Outstanding 61,528 64,593 64,557 Participating Securities 468 505 1,470 Shares for Basic Earnings Per Share 61,996 65,098 66,027 Dilutive Effect of Stock Options 44 38 48 Shares for Diluted Earnings Per Share 62,040 65,136 66,075 |
Note 12 - Restructuring Charg33
Note 12 - Restructuring Charges (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Restructuring and Related Costs [Table Text Block] | Total Restructuring Charge Costs Incurred in 2016 Costs Incurred in 2017 Balance at Dec. 31, 2017 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,633 $ 2,568 Asset Impairment 11,319 8,019 3,300 0 Lease Exit Costs 5,116 27 5,089 0 |
Note 13 - Taxes on Income (Tabl
Note 13 - Taxes on Income (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | FISCAL YEAR 2017 2016 2015 (in thousands) Current expense/(benefit): Federal $ 10,245 $ 6,886 $ 1,524 Foreign 11,923 12,934 9,279 State 1,414 1,633 1,403 Current expense 23,582 21,453 12,206 Deferred expense/(benefit): Federal 20,467 6,186 19,971 Foreign 1,214 (1,937 ) 3,795 State 2,030 (728 ) (2,624 ) Deferred expense 23,711 3,521 21,142 Total income tax expense $ 47,293 $ 24,974 $ 33,348 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | FISCAL YEAR 2017 2016 2015 (in thousands) U.S. operations $ 53,407 $ 38,357 $ 58,318 Foreign operations 47,132 40,779 47,448 Income before taxes $ 100,539 $ 79,136 $ 105,766 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2017 2016 ASSETS LIABILITIES ASSETS LIABILITIES (in thousands) Basis differences of property and equipment $ 0 $ 13,281 $ 0 $ 14,419 Basis difference of intangible assets 0 1,157 978 0 Foreign currency 0 2,597 0 3,216 Net operating loss carryforwards 2,468 0 3,627 0 Valuation allowances on net operating loss carryforwards (1,186 ) 0 (2,500 ) 0 Federal tax credits 3,227 0 5,711 0 Deferred compensation 20,220 0 26,546 0 Basis difference of inventory 634 0 4,009 0 Basis difference of prepaids, accruals and reserves 1,777 0 6,273 0 Pensions 2,408 0 3,435 0 Foreign withholding taxes on unremitted earnings 0 909 0 223 Undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 0 0 0 1,481 Basis difference of other assets and liabilities 0 536 0 351 $ 29,548 $ 18,480 $ 48,079 $ 19,690 FISCAL YEAR 2017 2016 (in thousands) Deferred tax asset (non-current asset) $ 18,003 $ 33,117 Deferred income taxes (non-current liabilities) (6,935 ) (4,728 ) Total net deferred taxes $ 11,068 $ 28,389 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | FISCAL YEAR 2017 2016 2015 (in thousands) Income taxes at U.S. federal statutory rate $ 35,189 $ 27,698 $ 37,018 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax effect 2,677 1,861 3,003 Non-deductible business expenses 695 538 614 Non-deductible employee compensation 80 361 168 Tax effects of Company owned life insurance (1,295 ) (199 ) 128 Tax effects of Tax Act: One-time transition tax on foreign earnings 11,707 0 0 Remeasurement of net Deferred Tax Asset 3,467 0 0 Tax effects of undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested 523 463 458 Foreign and U.S. tax effects attributable to foreign operations (4,537 ) (3,963 ) (3,347 ) Valuation allowance effect – State NOL (858 ) (1,272 ) (3,797 ) Federal tax credits (442 ) (494 ) (352 ) Other 87 (19 ) (545 ) Income tax expense $ 47,293 $ 24,974 $ 33,348 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | FISCAL YEAR 2017 2016 2015 (in thousands) Balance at beginning of year $ 27,888 $ 28,271 $ 27,301 Increases related to tax positions taken during the current year 627 690 641 Increases related to tax positions taken during the prior years 709 148 1,230 Decreases related to tax positions taken during the prior years 0 (695 ) (194 ) Decreases related to settlements with taxing authorities 0 0 0 Decreases related to lapse of applicable statute of limitations (462 ) (403 ) (367 ) Changes due to foreign currency translation 459 (123 ) ( 340 ) Balance at end of year $ 29,221 $ 27,888 $ 28,271 |
Note 14 - Commitments and Con35
Note 14 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | FISCAL YEAR AMOUNT (in thousands) 201 8 $ 16,719 201 9 13,300 20 20 8,489 20 21 5,314 202 2 3,117 Thereafter 15,500 |
Note 15 - Employee Benefit Pl36
Note 15 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | FISCAL YEAR 20 17 20 16 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 277,813 $ 243,717 Service cost 1,628 1,032 Interest cost 5,559 6,580 Benefits and expenses paid (10,267 ) (8,551 ) Actuarial loss (gain) 13,351 73,600 Member contributions 262 225 Currency translation adjustment 32,202 (38,790 ) Benefit obligation, end of year $ 320,548 $ 277,813 FISCAL YEAR 2017 2016 (in thousands) Change in plan assets Plan assets, beginning of year $ 258,365 $ 239,281 Actual return on assets 25,691 59,364 Company contributions 2,812 4,991 Benefits paid (10,267 ) (8,552 ) Currency translation adjustment 30,565 (36,719 ) Plan assets, end of year $ 307,166 $ 258,365 Reconciliation to balance sheet Funded status benefit asset/(liability) $ (13,382 ) $ (19,448 ) Net amount recognized $ (13,382 ) $ (19,448 ) Amounts recognized in accumulated other comprehensive income (after tax) Unrecognized actuarial loss $ 48,443 $ 49,547 Unamortized prior service costs (471 ) (311 ) Total amount recognized $ 47,972 $ 49,236 Accumulated Benefit Obligation $ 313,257 $ 274,414 END OF FISCAL YEAR 20 17 20 16 (in thousands) UK Plan Projected Benefit Obligation $ 190,992 $ 171,172 Accumulated Benefit Obligation 190,992 171,172 Plan Assets 179,322 153,132 Dutch Plan Projected Benefit Obligation $ 129,554 $ 106,641 Accumulated Benefit Obligation 122,265 103,242 Plan Assets 127,844 105,233 FISCAL YEAR 2017 2016 (in thousands) Change in benefit obligation Benefit obligation, beginning of year $ 29,700 $ 25,860 Service cost 0 440 Interest cost 1,256 1,269 Benefits paid (1,943 ) (1,012 ) Actuarial loss (gain) 2,906 3,143 Benefit obligation, end of year $ 31,919 $ 29,700 20 17 20 16 (in thousands) Current liabilities $ 2,030 $ 1,890 Non-current liabilities 29,889 27,810 Total benefit obligation $ 31,919 $ 29,700 20 17 20 16 (in thousands) Unrecognized actuarial loss 8,582 $ 5,626 |
Schedule of Net Benefit Costs [Table Text Block] | FISCAL YEAR 2017 2016 2015 (in thousands) Components of net periodic benefit cost Service cost $ 1,628 $ 1,032 $ 1,061 Interest cost 5,559 6,580 8,384 Expected return on plan assets (6,496 ) (7,553 ) (8,764 ) Amortization of prior service cost (34 ) 33 33 Recognized net actuarial (gains)/losses 1,287 1076 1,359 Net periodic benefit cost $ 1,944 $ 1,168 $ 2,073 |
Schedule of Assumptions Used [Table Text Block] | FISCAL YEAR 201 7 201 6 201 5 Weighted average assumptions used to determine net periodic benefit cost Discount rate 2.0 % 2.7 % 3.0 % Expected return on plan assets 2.3 % 3.1 % 4.0 % Rate of compensation 1.75 % 2.0 % 2.0 % Weighted average assumptions used to determine benefit obligations Discount rate 2.2 % 2.3 % 3.4 % Rate of compensation 1.75 % 2.0 % 2.0 % 20 17 20 16 20 15 (in thousands, except for assumptions) A ssumptions used to determine net periodic benefit cost Discount rate 3.85 % 4.25 % 4.0 % Rate of compensation - 4.0 % 4.0 % Assumptions used to determine benefit obligations Discount rate 3.5 % 3.85 % 4.25 % Rate of compensation - 4.0 % 4.0 % Components of net periodic benefit cost Service cost $ 0 $ 440 $ 594 Interest cost 1,256 1,269 1,113 Amortization s 364 811 522 Net periodic benefit cost $ 1,620 $ 2,520 $ 2,229 |
Schedule of Allocation of Plan Assets [Table Text Block] | FISCAL YEAR 2018 2017 2016 Target Allocation Percentage of Plan Assets at Year End Asset Category: Equity Securities 15% - 20% 16 % 15 % Debt and Debt Securities 35% - 45% 32 % 36 % Other 40% - 50% 52 % 49 % 100% 100 % 100 % Pension Plan Assets by Category as of December 31, 2017 Dutch Plan UK Plan Total (in thousands) Level 1 $ 0 $ 87,521 $ 87,521 Level 2 0 68,668 68,668 Level 3 127,844 23,133 150,977 Total $ 127,844 $ 179,322 $ 307,166 Pension Plan Assets by Category as of January 1, 2017 Dutch Plan UK Plan Total (in thousands) Level 1 $ 0 $ 80,048 $ 80,048 Level 2 0 50,364 50,364 Level 3 105,233 22,720 127,953 Total $ 105,233 $ 153,132 $ 258,365 2017 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 48,285 $ 0 $ 0 Debt and Debt Securities 36,780 41,381 19,883 Other (including cash) 2,456 27,287 131,094 $ 87,521 $ 68,668 $ 150,977 201 6 Level 1 Level 2 Level 3 (in thousands) Asset Class Equity Securities $ 37,696 $ 0 $ 0 Debt and Debt Securities 37,175 36,378 19,224 Other (including cash) 5,177 13,986 108,729 $ 80,048 $ 50,364 $ 127,953 |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | 201 7 (in thousands) Balance of level 3 assets, beginning of year $ 127,953 Interest cost 2,633 Benefits paid (3,728 ) Assets transferred in to (out of) Level 3 (2,089 ) Actuarial gain (loss) 8,753 Translation adjustment 17,455 Ending Balance of level 3 assets $ 150,977 |
Schedule of Expected Benefit Payments [Table Text Block] | FISCAL YEAR EXPECTED PAYMENTS (in thousands) 201 8 $ 9,115 201 9 9,334 20 20 9,650 20 21 10,011 20 22 10,257 2023 - 2027 54,661 FISCAL YEAR EXPECTED PAYMENTS (in thousands) 20 18 $ 2,030 20 19 2,030 20 20 2,030 20 21 2,030 202 2 2,030 2023 - 2027 9,990 |
Note 16 - Enterprise-wide Dis37
Note 16 - Enterprise-wide Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | AMERICAS EUROPE ASIA- PACIFIC TOTAL (in thousands) 201 7 Net Sales $ 588,052 $ 246,399 $ 161,992 $ 996,443 Depreciation and amortization 13,548 6,049 8,662 28,259 Total assets 272,883 253,519 193,555 719,957 201 6 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 20 15 Net Sales $ 593,163 $ 262,671 $ 146,029 $ 1,001,863 Depreciation and amortization 15,390 5,007 9,167 29,564 |
Reconciliation of Depreciation, Amortization, and Assets from Segments to Consolidated [Table Text Block] | FISCAL YEAR ENDED 2 017 201 6 2 015 (in thousands) DEPRECIATION AND AMORTIZATION Total segment depreciation and amortization $ 28,259 $ 29,066 $ 29,564 Corporate depreciation and amortization 2,002 1,566 1,239 Reported depreciation and amortization $ 30,261 $ 30,632 $ 30,803 ASSETS Total segment assets $ 719,957 $ 737,399 Corporate assets and eliminations 80,643 98,040 Reported total assets $ 800,600 $ 835,439 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | FISCAL YEAR 20 17 20 16 20 15 (in thousands) SALES TO UNAFFILIATED CUSTOMERS (1) United States $ 514,783 $ 501,206 $ 520,375 United Kingdom 57,391 58,266 72,445 Australia 87,591 78,141 76,600 Other foreign countries 336,678 321,004 332,443 Net sales $ 996,443 $ 958,617 $ 1,001,863 LONG-LIVED ASSETS (2) United States $ 76,557 $ 79,365 United Kingdom 7,902 8,122 Netherlands 55,132 43,907 Australia 45,067 44,209 Thailand 16,543 16,645 China 8,361 9,675 Other foreign countries 3,083 2,585 Total long-lived assets $ 212,645 $ 204,508 |
Note 17 - Quarterly Data and 38
Note 17 - Quarterly Data and Share Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | FISCAL YEAR 201 7 FIRST QUARTER (1) SECOND QUARTER THIRD QUARTER FOURTH QUARTER ( 2 ) (in thousands, except per share data) Net sales $ 221,102 $ 251,700 $ 257,431 $ 266,210 Gross profit 87,802 97,897 98,544 101,778 Net income 8,547 20,938 19,439 4,322 Basic income per share $ 0.13 $ 0.33 $ 0.32 $ 0.07 Diluted income per share $ 0.13 $ 0.33 $ 0.32 $ 0.07 Share prices High $ 19.93 $ 21.05 $ 22.60 $ 25.70 Low $ 17.18 $ 18.15 $ 18.30 $ 21.21 FISCAL YEAR 20 16 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 |
Dec. 31, 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: December 31, 2017 $ 3,780 $ 635 $ 0 $ 922 $ 3,493 January 1, 2017 4,479 (243 ) 0 456 3,780 January 3, 2016 5,896 212 0 1,629 4,479 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: December 31, 2017 $ 10,291 $ 3,999 $ 3,300 $ 3,724 $ 2,568 January 1, 2017 104 11,769 8,019 1,582 10,291 January 3, 2016 7,179 (481 ) 0 6,594 104 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 : December 31, 2017 $ 5,529 $ 2,071 $ 0 $ 3,489 $ 4,111 January 1, 2017 4,759 3,149 0 2,379 5,529 January 3, 2016 3,954 2,584 0 1,779 4,759 |
Note 1 - Summary of Significa40
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Research and Development Expense | $ 14,000,000 | $ 14,300,000 | $ 14,500,000 |
Cash Equivalents, at Carrying Value | 0 | 0 | |
Interest Paid, Net | 6,300,000 | 5,500,000 | 4,800,000 |
Income Taxes Paid | 19,100,000 | 12,800,000 | 7,200,000 |
Proceeds from Income Tax Refunds | 100,000 | 200,000 | 3,100,000 |
Interest Costs Capitalized | 600,000 | 500,000 | 300,000 |
Depreciation | 29,500,000 | 30,100,000 | 30,400,000 |
Finite-Lived Intangible Assets, Accumulated Amortization | 77,300,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | 212,600,000 | ||
Goodwill | 68,754,000 | 61,218,000 | |
Other Intangible Assets, Net | 600,000 | 1,000,000 | |
Amortization of Intangible Assets | 700,000 | 500,000 | 300,000 |
Goodwill, Impairment Loss | $ 0 | 0 | 0 |
Fair Value Estimates of Reporting Units, Threshold for No Goodwill Impairment, Percent of Decrease in Fair Value Estimates | 10.00% | ||
Workmanship Warranty Period | 1 year | ||
Standard Product Warranty Accrual | $ 4,100,000 | 5,500,000 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | $ 31,600,000 | $ (19,000,000) | $ (32,600,000) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 |
Accrual for Environmental Loss Contingencies | $ 0 | $ 0 | |
Short-term Investments | $ 0 | 0 | |
Luxury Vinyl Tile Products [Member] | |||
Product Warranty Period | 15 years | ||
Restructuring Charges [Member] | |||
Impairment of Intangible Assets (Excluding Goodwill) | $ 3,400,000 | ||
Minimum [Member] | Carpet Products [Member] | |||
Product Warranty Period | 10 years | ||
Maximum [Member] | Carpet Products [Member] | |||
Product Warranty Period | 20 years | ||
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 Fixtures [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Furniture and Fixtures [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 ($) | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Balance | $ 61,218,000 | ||
Acquisitions | 0 | ||
Impairment | 0 | $ 0 | $ 0 |
Foreign currency translation | 7,536,000 | ||
Balance | $ 68,754,000 | $ 61,218,000 |
Note 2 - Recent Accounting Pr42
Note 2 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Apr. 02, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | |
Deferred Tax Assets, Gross | $ 29,548 | $ 48,079 | ||
Reclassification from Current Deferred Tax Assets to Noncurrent Deferred Tax Assets [Member] | Fiscal Year End January 1, 2017 [Member] | ||||
Prior Period Reclassification Adjustment | $ 10,000 | |||
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 | 5,900 | |||
Rreclassification from Noncurrent Deferred Tax Liabilities to Noncurrent Deferred Tax Assets [Member] | Fiscal Year End January 1, 2017 [Member] | ||||
Prior Period Reclassification Adjustment | 4,100 | |||
Accounting Standards Update 2016-09 [Member] | ||||
Deferred Tax Assets, Gross | $ 9,400 | |||
Reclassification of Tax Withholdings from Cash from Operating Activities to Cash from Financing Activities [Member] | Fiscal 2016 [Member] | ||||
Prior Period Reclassification Adjustment | 4,600 | |||
Reclassification of Tax Withholdings from Cash from Operating Activities to Cash from Financing Activities [Member] | Fiscal 2015 [Member] | ||||
Prior Period Reclassification Adjustment | $ 1,000 | |||
Reclassification From Operating Expenses to Other Expense [Member] | Fiscal 2016 [Member] | Scenario, Forecast [Member] | ||||
Prior Period Reclassification Adjustment | $ 2,200 | |||
Reclassification From Operating Expenses to Other Expense [Member] | Fiscal 2017 [Member] | Scenario, Forecast [Member] | ||||
Prior Period Reclassification Adjustment | $ 1,900 | |||
Product Concentration Risk [Member] | Revenue from Contract with Customer [Member] | Carpet, Hard Surface Flooring and Related Products [Member] | ||||
Concentration Risk, Percentage | 95.00% | |||
Product Concentration Risk [Member] | Revenue from Contract with Customer [Member] | Sale and Installation of Carpet and Related Products [Member] | ||||
Concentration Risk, Percentage | 5.00% |
Note 3 - Receivables (Details T
Note 3 - Receivables (Details Textual) - USD ($) | Dec. 31, 2017 | Jan. 01, 2017 |
Allowance for Doubtful Accounts Receivable | $ 3,500,000 | $ 3,800,000 |
Standard Product Warranty Accrual | $ 4,100,000 | $ 5,500,000 |
Note 4 - Fair Value of Financ44
Note 4 - Fair Value of Financial Instruments (Details Textual) $ in Millions | Dec. 31, 2017USD ($) |
Cash Surrender Value, Fair Value Disclosure | $ 23.7 |
Interest Rate Swap [Member] | |
Derivative, Notional Amount | $ 100 |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) - USD ($) $ in Millions | Dec. 31, 2017 | Jan. 01, 2017 |
Inventory Valuation Reserves | $ 20.4 | $ 17.6 |
Note 5 - Inventories - Summary
Note 5 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Jan. 01, 2017 |
Finished goods | $ 115,512 | $ 104,742 |
Work-in-process | 13,022 | 8,711 |
Raw materials | 49,401 | 42,630 |
Inventory, Net | $ 177,935 | $ 156,083 |
Note 6 - Property and Equipme47
Note 6 - Property and Equipment (Details Textual) $ in Millions | Dec. 31, 2017USD ($) |
Estimated Cost To Complete Approved Projects And Current Construction In Progress | $ 61.5 |
Note 6 - Property and Equipme48
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Property and equipment, gross | $ 519,962 | $ 487,818 | ||
Accumulated depreciation | (307,317) | (283,310) | ||
Property and Equipment | [1] | 212,645 | 204,508 | |
Land [Member] | ||||
Property and equipment, gross | 17,743 | 16,063 | ||
Building [Member] | ||||
Property and equipment, gross | 130,919 | 121,216 | ||
Equipment [Member] | ||||
Property and equipment, gross | $ 371,300 | $ 350,539 | ||
[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 | Dec. 31, 2017 | Jan. 01, 2017 |
Liability, Defined Benefit Pension Plan, Noncurrent | $ 43.3 | $ 47.3 |
Note 7 - Accrued Expenses - Sum
Note 7 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Jan. 01, 2017 |
Compensation | $ 71,760 | $ 58,927 |
Interest | 362 | 114 |
Restructuring | 2,568 | 10,291 |
Taxes | 19,948 | 11,467 |
Accrued purchases | 4,569 | 3,101 |
Warranty and sales allowances | 4,111 | 5,529 |
Other | 7,656 | 9,274 |
Accrued Expenses | $ 110,974 | $ 98,703 |
Note 8 - Borrowings (Details Te
Note 8 - Borrowings (Details Textual) € in Millions | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2017USD ($) | Jan. 01, 2017USD ($) | Jan. 03, 2016USD ($) | |
Threshold Of Other Indebtedness Triggering Default | $ 20,000,000 | ||||
Long-term Debt | 229,928,000 | ||||
Debt Issuance Costs, Net | 2,300,000 | $ 1,400,000 | |||
Amortization of Debt Issuance Costs and Discounts | 500,000 | 500,000 | $ 500,000 | ||
Interest Rate Swap [Member] | |||||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 0 | ||||
Derivative, Notional Amount | 100,000,000 | ||||
Interest Rate Swap [Member] | Other Nonoperating Income (Expense) [Member] | |||||
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | 0 | ||||
Interest Rate Swap [Member] | Other Assets [Member] | |||||
Derivative Asset, Fair Value, Gross Asset | 900,000 | ||||
Syndicated Facility Agreement [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 250,000,000 | ||||
Line of Credit Facility, Option to Increase Maximum Borrowing Capacity, Amount | $ 150,000,000 | ||||
Maximum Percentage Of First Tier Subsidiary Stock Pledged As Collateral | 65.00% | ||||
Long-term Line of Credit | $ 59,900,000 | ||||
Letters of Credit Outstanding, Amount | $ 6,000,000 | ||||
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 3.00% | ||||
Syndicated Facility Agreement [Member] | One of the Company's Foreign Subsidiaries [Member] | |||||
Proceeds from Lines of Credit | $ 63,500,000 | € 61 | |||
Syndicated Facility Agreement [Member] | For Each Fiscal Quarter Thereafter [Member] | |||||
Maximum Consolidated Net Leverage Ratio | 3.75 | ||||
Minimum Consolidated Interest Coverage Ratio | 2.25 | ||||
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] | |||||
Debt Instrument, Face Amount | $ 177,500,000 | ||||
Debt Instrument, Periodic Payment | 3,750,000 | ||||
Long-term Debt | 170,000,000 | ||||
Syndicated Facility Agreement [Member] | Standby Letters of Credit [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 40,000,000 | ||||
Other Line Of Credit [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 9,800,000 | ||||
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 | Dec. 31, 2017USD ($) |
2,018 | $ 15,000 |
2,019 | 15,000 |
2,020 | 15,000 |
2,021 | 15,000 |
2,022 | 169,928 |
Thereafter | 0 |
Total Debt | $ 229,928 |
Note 9 - Preferred Stock (Detai
Note 9 - Preferred Stock (Details Textual) | 12 Months Ended | |
Dec. 31, 2017$ / sharesshares | Jan. 01, 2017shares | |
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 - Shareholders' Equit54
Note 10 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Apr. 02, 2017 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | Jul. 02, 2017 | 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 | $ 0.25 | $ 0.22 | $ 0.18 | |||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 39,500 | |||||||||
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 Reduced 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 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 2 years | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 1,400 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 1,400 | |||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 4.31 | |||||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 13.04 | |||||||||
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] | ||||||||||
Allocated Share-based Compensation Expense | $ 2,800 | $ 4,700 | $ 13,900 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 253,000 | 277,000 | 597,000 | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 4,100 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 468,000 | 505,000 | ||||||||
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] | ||||||||||
Allocated Share-based Compensation Expense | $ 4,500 | $ 1,200 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 354,000 | 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 | $ 6,100 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 669,500 | 368,500 | 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 | |||||||||
Restricted Stock and Performance Shares [Member] | ||||||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 2,600 | $ 2,000 | ||||||||
Common Stock [Member] | ||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 500,000 | 500,000 | ||||||||
Stock Repurchase Program, Authorized Amount | $ 100,000 | $ 50,000 | ||||||||
Stock Repurchased and Retired During Period, Value | $ 50,000 | $ 463 | $ 118 | $ 65 | ||||||
Stock Repurchased and Retired During Period, Shares | 4,628,300 | 1,177,600 | 650,000 | |||||||
Treasury Stock Acquired, Average Cost Per Share | $ 19.76 | $ 15.68 | $ 20.47 | |||||||
Common Class B [Member] | ||||||||||
Percentage of Issued and Outstanding Shares | 10.00% |
Note 10 - Shareholders' Equit55
Note 10 - Shareholders' Equity - Activity in Shareholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | 24 Months Ended | ||||||||||||
Dec. 31, 2017 | Oct. 01, 2017 | Jul. 02, 2017 | Apr. 02, 2017 | Jan. 01, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 31, 2017 | ||||
Balance | $ 340,729 | $ 340,729 | |||||||||||||
Net income | $ 4,322 | [1] | $ 19,439 | $ 20,938 | $ 8,547 | [2] | $ 4,707 | [3] | $ 15,904 | $ 20,657 | $ 12,894 | 53,246 | $ 54,162 | $ 72,418 | |
Pension liability adjustment | (1,692) | (11,572) | 6,072 | ||||||||||||
Foreign currency translation adjustment | 31,579 | (19,011) | (32,575) | ||||||||||||
Cash flow hedge unrealized gain (loss) | 904 | 0 | $ 0 | ||||||||||||
Balance | $ 330,091 | $ 340,729 | $ 330,091 | $ 340,729 | $ 330,091 | ||||||||||
Common Stock [Member] | |||||||||||||||
Balance (in shares) | 64,238,000 | 65,701,000 | 64,238,000 | 65,701,000 | 65,968,000 | 65,701,000 | |||||||||
Balance | $ 6,424 | $ 6,570 | $ 6,424 | $ 6,570 | $ 6,597 | $ 6,570 | |||||||||
Net income | $ 0 | $ 0 | $ 0 | ||||||||||||
Stock issuances under employee option plans (in shares) | 36,000 | 17,000 | 39,000 | ||||||||||||
Stock issuances under employee option plans | $ 4 | $ 2 | $ 4 | ||||||||||||
Other issuances of common stock (in shares) | 253,000 | 277,000 | 597,000 | ||||||||||||
Other issuances of common stock | $ 25 | $ 28 | $ 59 | ||||||||||||
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) | (93,000) | (579,000) | (253,000) | ||||||||||||
Forfeitures and compensation expense related to stock awards | $ (9) | $ (58) | $ (25) | ||||||||||||
Share repurchases (in shares) | (4,628,300) | (1,177,600) | (650,000) | ||||||||||||
Share repurchases | (50,000) | $ (463) | $ (118) | $ (65) | |||||||||||
Pension liability adjustment | 0 | 0 | 0 | ||||||||||||
Foreign currency translation adjustment | 0 | $ 0 | $ 0 | ||||||||||||
Other (in shares) | 0 | 0 | |||||||||||||
Other | $ 0 | $ 0 | |||||||||||||
Windfall tax benefit - share-based payment awards | 0 | $ 0 | |||||||||||||
Cash flow hedge unrealized gain (loss) | 0 | ||||||||||||||
Adoption of new accounting standard - share-based payment awards | $ 0 | ||||||||||||||
Balance (in shares) | 59,806,000 | 64,238,000 | 59,806,000 | 64,238,000 | 65,701,000 | 59,806,000 | |||||||||
Balance | $ 5,981 | $ 6,424 | $ 5,981 | $ 6,424 | $ 6,570 | $ 5,981 | |||||||||
Additional Paid-in Capital [Member] | |||||||||||||||
Balance | 359,451 | 370,327 | 359,451 | 370,327 | 368,603 | 370,327 | |||||||||
Net income | 0 | 0 | 0 | ||||||||||||
Stock issuances under employee option plans | 508 | 251 | 355 | ||||||||||||
Other issuances of common stock | 4,507 | 4,726 | 9,746 | ||||||||||||
Unamortized stock compensation expense related to restricted stock awards | (4,532) | (4,754) | (9,806) | ||||||||||||
Cash dividends paid | 0 | 0 | 0 | ||||||||||||
Forfeitures and compensation expense related to stock awards | 5,574 | 979 | 14,670 | ||||||||||||
Share repurchases | (91,113) | (18,378) | (13,241) | ||||||||||||
Pension liability adjustment | 0 | 0 | 0 | ||||||||||||
Foreign currency translation adjustment | 0 | 0 | 0 | ||||||||||||
Other | 0 | 0 | |||||||||||||
Windfall tax benefit - share-based payment awards | (3,124) | 6,300 | |||||||||||||
Cash flow hedge unrealized gain (loss) | 0 | ||||||||||||||
Adoption of new accounting standard - share-based payment awards | 0 | ||||||||||||||
Balance | 271,271 | 359,451 | 271,271 | 359,451 | 370,327 | 271,271 | |||||||||
Retained Earnings [Member] | |||||||||||||||
Balance | 140,238 | 100,270 | 140,238 | 100,270 | 39,737 | 100,270 | |||||||||
Net income | 53,246 | 54,162 | 72,418 | ||||||||||||
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 | (15,487) | (14,285) | (11,885) | ||||||||||||
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 | |||||||||||||
Windfall tax benefit - share-based payment awards | 0 | 0 | |||||||||||||
Cash flow hedge unrealized gain (loss) | 0 | ||||||||||||||
Adoption of new accounting standard - share-based payment awards | 9,435 | ||||||||||||||
Balance | 187,432 | 140,238 | 187,432 | 140,238 | 100,270 | 187,432 | |||||||||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||||||||||||
Balance | (54,862) | (43,290) | (54,862) | (43,290) | (49,362) | (43,290) | |||||||||
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 | (1,692) | (11,572) | 6,072 | ||||||||||||
Foreign currency translation adjustment | 0 | 0 | 0 | ||||||||||||
Other | 0 | 0 | |||||||||||||
Windfall tax benefit - share-based payment awards | 0 | 0 | |||||||||||||
Cash flow hedge unrealized gain (loss) | 0 | ||||||||||||||
Adoption of new accounting standard - share-based payment awards | 0 | ||||||||||||||
Balance | (56,554) | (54,862) | (56,554) | (54,862) | (43,290) | (56,554) | |||||||||
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||||||||||||||
Balance | (110,522) | $ (91,511) | (110,522) | (91,511) | (58,936) | (91,511) | |||||||||
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 | 31,579 | (19,011) | (32,575) | ||||||||||||
Other | 0 | 0 | |||||||||||||
Windfall tax benefit - share-based payment awards | 0 | 0 | |||||||||||||
Cash flow hedge unrealized gain (loss) | 0 | ||||||||||||||
Adoption of new accounting standard - share-based payment awards | 0 | ||||||||||||||
Balance | (78,943) | (110,522) | (78,943) | (110,522) | $ (91,511) | (78,943) | |||||||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||||||||||||
Balance | $ 0 | 0 | |||||||||||||
Net income | 0 | ||||||||||||||
Stock issuances under employee option plans | 0 | ||||||||||||||
Other issuances of common stock | 0 | ||||||||||||||
Unamortized stock compensation expense related to restricted stock awards | 0 | ||||||||||||||
Cash dividends paid | 0 | ||||||||||||||
Forfeitures and compensation expense related to stock awards | 0 | ||||||||||||||
Share repurchases | 0 | ||||||||||||||
Pension liability adjustment | 0 | ||||||||||||||
Foreign currency translation adjustment | 0 | ||||||||||||||
Windfall tax benefit - share-based payment awards | 0 | ||||||||||||||
Cash flow hedge unrealized gain (loss) | 904 | ||||||||||||||
Adoption of new accounting standard - share-based payment awards | 0 | ||||||||||||||
Balance | $ 904 | $ 0 | $ 904 | $ 0 | $ 904 | ||||||||||
[1] | Results for the fourth quarter of 2017 include tax charges of $15.2 million as a result of the recently enacted U.S. Tax Cuts and Jobs Act. | ||||||||||||||
[2] | Results for the first quarter of 2017 include restructuring and asset impairment charges of $7.3 million. | ||||||||||||||
[3] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity - Stock Options Outstanding (Details) - $ / shares | 12 Months Ended | ||||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |||
Outstanding at January 1, 2017 (in shares) | 87,500 | ||||
Granted (in shares) | 0 | 0 | 0 | ||
Exercised (in shares) | 5,000 | ||||
Forfeited or cancelled (in shares) | 0 | ||||
Outstanding at December 31, 2017 (a) (in shares) | 82,500 | [1] | 87,500 | ||
Exercisable at December 31, 2017 (b) (in shares) | [2] | 82,500 | |||
Outstanding at January 1, 2017 (in dollars per share) | $ 8.75 | ||||
Granted (in dollars per share) | 0 | ||||
Exercised (in dollars per share) | 12.43 | ||||
Forfeited or cancelled (in dollars per share) | 0 | ||||
Outstanding at December 31, 2017 (a) (in dollars per share) | 8.53 | [1] | $ 8.75 | ||
Exercisable at December 31, 2017 (b) (in dollars per share) | [2] | $ 8.53 | |||
[1] | At December 31, 2017, the weighted-average remaining contractual life of options outstanding was 2.0 years. | ||||
[2] | At December 31, 2017, the weighted-average remaining contractual life of options exercisable was 2.0 years. |
Note 10 - Shareholders' Equit57
Note 10 - Shareholders' Equity - Restricted Stock Outstanding (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Outstanding at January 1, 2017 (in shares) | 505,000 | ||
Granted (in shares) | 253,000 | 277,000 | 597,000 |
Vested (in shares) | 284,000 | ||
Forfeited or cancelled (in shares) | 6,000 | ||
Outstanding at December 31, 2017 (in shares) | 468,000 | 505,000 | |
Outstanding at January 1, 2017 (in dollars per share) | $ 17.05 | ||
Granted (in dollars per share) | 17.91 | ||
Vested (in dollars per share) | 16.61 | ||
Forfeited or cancelled (in dollars per share) | 16.99 | ||
Outstanding at December 31, 2017 (in dollars per share) | $ 17.79 | $ 17.05 |
Note 10 - Shareholders' Equit58
Note 10 - Shareholders' Equity - Performance Shares Outstanding (Details) - Performance Shares [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Outstanding at January 1, 2017 (in shares) | 368,500 | 0 | |
Granted (in shares) | 354,000 | 0 | |
Vested (in shares) | 31,000 | ||
Forfeited or cancelled (in shares) | 22,000 | ||
Outstanding at December 31, 2017 (in shares) | 669,500 | 368,500 | 0 |
Outstanding at January 1, 2017 (in dollars per share) | $ 17.20 | ||
Granted (in dollars per share) | 17.80 | ||
Vested (in dollars per share) | 17.22 | ||
Forfeited or cancelled (in dollars per share) | 17.29 | ||
Outstanding at December 31, 2017 (in dollars per share) | $ 17.51 | $ 17.20 |
Note 11 - Income (Loss) Per S59
Note 11 - Income (Loss) Per Share (Details Textual) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 |
Note 11 - Income (Loss) Per S60
Note 11 - Income (Loss) Per Share - Distributed and Undistributed Earnings (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Basic earnings per share | |||
Distributed earnings (in dollars per share) | $ 0.25 | $ 0.22 | $ 0.18 |
Undistributed earnings (in dollars per share) | 0.61 | 0.61 | 0.92 |
(in dollars per share) | 0.86 | 0.83 | 1.10 |
Diluted earnings per share | |||
Distributed earnings (in dollars per share) | 0.25 | 0.22 | 0.18 |
Undistributed earnings (in dollars per share) | 0.61 | 0.61 | 0.92 |
(in dollars per share) | $ 0.86 | $ 0.83 | $ 1.10 |
Note 11 - Income (Loss) Per S61
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 | ||||||||||||
Dec. 31, 2017 | [1] | Oct. 01, 2017 | Jul. 02, 2017 | Apr. 02, 2017 | [2] | Jan. 01, 2017 | [3] | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Net income | $ 4,322 | $ 19,439 | $ 20,938 | $ 8,547 | $ 4,707 | $ 15,904 | $ 20,657 | $ 12,894 | $ 53,246 | $ 54,162 | $ 72,418 | |||
Shares for Basic Earnings Per Share (in shares) | 61,996 | 65,098 | 66,027 | |||||||||||
Dilutive Effect of Stock Options (in shares) | 44 | 38 | 48 | |||||||||||
Shares for Diluted Earnings Per Share (in shares) | 62,040 | 65,136 | 66,075 | |||||||||||
Participating Securities [Member] | ||||||||||||||
Net income | $ 400 | $ 400 | $ 1,600 | |||||||||||
Weighted Average Shares Outstanding (in shares) | 61,528 | 64,593 | 64,557 | |||||||||||
Participating Securities (in shares) | 468 | 505 | 1,470 | |||||||||||
[1] | Results for the fourth quarter of 2017 include tax charges of $15.2 million as a result of the recently enacted U.S. Tax Cuts and Jobs Act. | |||||||||||||
[2] | Results for the first quarter of 2017 include restructuring and asset impairment charges of $7.3 million. | |||||||||||||
[3] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. |
Note 12 - Restructuring Charg62
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 | $ 7.3 | $ 19.8 |
Note 12 - Restructuring Charg63
Note 12 - Restructuring Charges - Restructuring Activities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | 24 Months Ended | ||
Apr. 02, 2017 | Jan. 01, 2017 | Dec. 31, 2017 | Jan. 01, 2017 | Dec. 31, 2017 | |
Total restructuring charge | $ 7,300 | $ 19,800 | |||
Employee Severance [Member] | |||||
Total restructuring charge | $ 10,652 | ||||
Cost incurred | $ 6,633 | $ 1,451 | |||
Balance | 2,568 | 2,568 | |||
Fixed Asset Impairment [Member] | |||||
Total restructuring charge | 11,319 | ||||
Cost incurred | 3,300 | 8,019 | |||
Balance | 0 | 0 | |||
Other Restructuring [Member] | |||||
Total restructuring charge | 5,116 | ||||
Cost incurred | 5,089 | $ 27 | |||
Balance | $ 0 | $ 0 |
Note 13 - Taxes on Income (Deta
Note 13 - Taxes on Income (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | 24 Months Ended | |||||
Dec. 30, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 31, 2017 | Dec. 21, 2017 | Dec. 28, 2014 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | ||||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | $ 11,707 | $ 0 | $ 0 | ||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 3,500 | ||||||
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 3,800 | $ 3,800 | |||||
Operating Loss Carryforwards, Valuation Allowance | 1,186 | 2,500 | 1,186 | ||||
Increase (Decrease) in Deferred Tax Assets | $ (3,300) | $ (5,000) | |||||
Effective Income Tax Rate Reconciliation, Percent | 47.00% | 31.60% | 31.50% | ||||
Deferred Tax Liabilities, Undistributed Foreign Earnings | $ 0 | $ 1,481 | 0 | ||||
Unrecognized Tax Benefits | 29,221 | 27,888 | $ 28,271 | 29,221 | $ 27,301 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 29,200 | 29,200 | |||||
Unrecognized Tax Benefits That Would Require To Settle Through Cash | 25,900 | 25,900 | |||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 1,600 | 1,600 | |||||
Discontinued Operations [Member] | |||||||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 57,300 | 57,300 | |||||
Domestic Tax Authority [Member] | |||||||
Operating Loss Carryforwards, Share-based Compensation | 23,200 | $ 9,000 | 23,200 | ||||
Income Tax Benefit, Share-based Payment Awards | 8,100 | ||||||
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | 3,200 | ||||||
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation | $ 3,100 | ||||||
Domestic Tax Authority [Member] | Earliest Tax Year [Member] | |||||||
Open Tax Year | 2,003 | ||||||
State and Local Jurisdiction [Member] | |||||||
Operating Loss Carryforwards, Share-based Compensation | $ 21,400 | 21,400 | |||||
Income Tax Benefit, Share-based Payment Awards | 1,300 | ||||||
Operating Loss Carryforwards | 108,600 | 108,600 | |||||
Operating Loss Carryforwards, Valuation Allowance | $ 18,500 | 18,500 | |||||
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | |||||||
Open Tax Year | 2,012 | ||||||
Foreign Tax Authority [Member] | Earliest Tax Year [Member] | |||||||
Open Tax Year | 2,006 | ||||||
Foreign Tax Authority [Member] | Foreign Tax Authorities Excluding Canada [Member] | |||||||
Undistributed Earnings of Foreign Subsidiaries | $ 307,000 | 307,000 | $ 350,000 | ||||
Repatriation Amount Previously Deemed Indefinitely Reinvested Earnings | 37,000 | 37,000 | |||||
Provisional Estimate For Foreign Withholding and US State Taxes | 600 | ||||||
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | |||||||
Repatriation Amount Previously Deemed Indefinitely Reinvested Earnings | 6,000 | 6,000 | |||||
Deferred Tax Liabilities, Undistributed Foreign Earnings | 2,000 | 2,000 | |||||
Foreign Withholding Taxes Related to Undistributed Earnings Not Deemed Indefinitely Reinvested | 300 | $ 300 | |||||
Deferred Income Taxes On Undistributed Earnings Not Deemed Indefinitely Reinvested, Reversal Amount | $ (2,000) | ||||||
Scenario, Forecast [Member] | |||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
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 | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Current expense/(benefit): | |||
Federal | $ 10,245 | $ 6,886 | $ 1,524 |
Foreign | 11,923 | 12,934 | 9,279 |
State | 1,414 | 1,633 | 1,403 |
Current expense | 23,582 | 21,453 | 12,206 |
Deferred expense/(benefit): | |||
Federal | 20,467 | 6,186 | 19,971 |
Foreign | 1,214 | (1,937) | 3,795 |
State | 2,030 | (728) | (2,624) |
Deferred expense | 23,711 | 3,521 | 21,142 |
Total income tax expense | $ 47,293 | $ 24,974 | $ 33,348 |
Note 13 - Taxes On Income - Inc
Note 13 - Taxes On Income - Income Before Taxes On Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
U.S. operations | $ 53,407 | $ 38,357 | $ 58,318 |
Foreign operations | 47,132 | 40,779 | 47,448 |
Income before income tax expense | $ 100,539 | $ 79,136 | $ 105,766 |
Note 13 - Taxes on Income - Net
Note 13 - Taxes on Income - Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Jan. 01, 2017 |
Basis differences of property and equipment, assets | $ 0 | $ 0 |
Basis differences of property and equipment, liabilities | 13,281 | 14,419 |
Basis difference of intangible assets, assets | 0 | 978 |
Basis difference of intangible assets, liabilities | 1,157 | 0 |
Foreign currency, assets | 0 | 0 |
Foreign currency, liabilities | 2,597 | 3,216 |
Net operating loss carryforwards, assets | 2,468 | 3,627 |
Net operating loss carryforwards, liabilities | 0 | 0 |
Valuation allowances on net operating loss carryforwards, assets | (1,186) | (2,500) |
Valuation allowances on net operating loss carryforwards, liabilities | 0 | 0 |
Federal tax credits, assets | 3,227 | 5,711 |
Federal tax credits, liabilities | 0 | 0 |
Deferred compensation, assets | 20,220 | 26,546 |
Deferred compensation, liabilities | 0 | 0 |
Basis difference of inventory, assets | 634 | 4,009 |
Basis difference of inventory, liabilities | 0 | 0 |
Basis difference of prepaids, accruals and reserves, assets | 1,777 | 6,273 |
Basis difference of prepaids, accruals and reserves, liabilities | 0 | 0 |
Pensions, assets | 2,408 | 3,435 |
Pensions, liabilities | 0 | 0 |
Foreign withholding taxes on unremitted earnings, liabilities | 909 | 223 |
Deferred Tax Liabilities, Undistributed Foreign Earnings | 0 | 1,481 |
Basis difference of other assets and liabilities, assets | 0 | 0 |
Basis difference of other assets and liabilities, liabilities | 536 | 351 |
Deferred tax assets | 29,548 | 48,079 |
Deferred tax liabilities | 18,480 | 19,690 |
Deferred tax asset | 18,003 | 33,117 |
Deferred income taxes (non-current liabilities) | (6,935) | (4,728) |
Total net deferred taxes | $ 11,068 | $ 28,389 |
Note 13 - Taxes on Income - Eff
Note 13 - Taxes on Income - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Income taxes at U.S. federal statutory rate | $ 35,189 | $ 27,698 | $ 37,018 |
State income taxes, net of federal tax effect | 2,677 | 1,861 | 3,003 |
Non-deductible business expenses | 695 | 538 | 614 |
Non-deductible employee compensation | 80 | 361 | 168 |
Tax effects of Company owned life insurance | (1,295) | (199) | 128 |
One-time transition tax on foreign earnings | 11,707 | 0 | 0 |
Remeasurement of net Deferred Tax Asset | 3,467 | 0 | 0 |
Tax effects of undistributed earnings from foreign subsidiaries not deemed to be indefinitely reinvested | 523 | 463 | 458 |
Foreign and U.S. tax effects attributable to foreign operations | (4,537) | (3,963) | (3,347) |
Valuation allowance effect – State NOL | (858) | (1,272) | (3,797) |
Federal tax credits | (442) | (494) | (352) |
Other | 87 | (19) | (545) |
Total income tax expense | $ 47,293 | $ 24,974 | $ 33,348 |
Note 13 - Taxes on Income - Rec
Note 13 - Taxes on Income - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Balance at beginning of year | $ 27,888 | $ 28,271 | $ 27,301 |
Increases related to tax positions taken during the current year | 627 | 690 | 641 |
Increases related to tax positions taken during the prior years | 709 | 148 | 1,230 |
Decreases related to tax positions taken during the prior years | 0 | (695) | (194) |
Decreases related to settlements with taxing authorities | 0 | 0 | 0 |
Decreases related to lapse of applicable statute of limitations | (462) | (403) | (367) |
Changes due to foreign currency translation | 459 | (123) | (340) |
Balance at end of year | $ 29,221 | $ 27,888 | $ 28,271 |
Note 14 - Commitments and Con70
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Operating Leases, Rent Expense | $ 22 | $ 24.5 | $ 24.4 |
Note 14 - Commitments and Con71
Note 14 - Commitments and Contingencies - Minimum Rent Commitments Under Operating Leases (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 16,719 |
2,019 | 13,300 |
2,020 | 8,489 |
2,021 | 5,314 |
2,022 | 3,117 |
Thereafter | $ 15,500 |
Note 15 - Employee Benefit Pl72
Note 15 - Employee Benefit Plans (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Jan. 01, 2017USD ($) | Jan. 03, 2016USD ($) | |
Defined Contribution Plan Eligibility Period | 180 days | ||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $ 56,554 | $ 54,862 | |
Foreign Plan [Member] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 2,812 | 4,991 | |
Pension Cost (Reversal of Cost) | 1,900 | 1,200 | $ 2,100 |
Defined Benefit Plan, Funded (Unfunded) Status of Plan | (13,382) | (19,448) | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $ 47,972 | 49,236 | |
Number of Defined Benefit Plans | 2 | ||
Defined Benefit Plan, Expected Amortization, Next Fiscal Year | $ 1,200 | ||
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax | 7,000 | ||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax | 5,800 | ||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | (1,200) | ||
Defined Benefit Plan, Indexation Benefit | 32,700 | 32,200 | |
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 3,300 | ||
Defined Benefit Plan, Accumulated Benefit Obligation | 313,257 | 274,414 | |
Foreign Plan [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
AOCI Tax, Attributable to Parent | 15,000 | ||
UNITED STATES | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 1,900 | ||
Defined Benefit Plan, Expected Amortization, Next Fiscal Year | 500 | ||
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax | 1,700 | ||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax | (2,000) | ||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | $ (300) | ||
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 | ||
Defined Benefit Plan, Accumulated Benefit Obligation | $ 31,900 | 29,700 | |
Other Comprehensive Income (Loss), Increase in Minimum Pension Liability | 1,300 | ||
Deferred Compensation, Excluding Share-based Payments and Retirement Benefits [Member] | |||
Deferred Compensation Liability, Current and Noncurrent | 31,900 | ||
Investment in Insurance Instruments | 28,000 | ||
The 401(k) Plan [Member] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 3,000 | 3,100 | 2,900 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 | $ 0 |
Note 15 - Employee Benefit Pl73
Note 15 - Employee Benefit Plans - Funded Status of Defined Benefit Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | Dec. 31, 2017 | Jan. 01, 2017 | |
Amounts recognized in accumulated other comprehensive income (after tax) | |||||
Total amount recognized | $ 56,554 | $ 54,862 | |||
UNITED STATES | |||||
Change in benefit obligation | |||||
Benefit obligation, beginning of year | $ 29,700 | $ 25,860 | |||
Service cost | 0 | 440 | $ 594 | ||
Interest cost | 1,256 | 1,269 | 1,113 | ||
Benefits and expenses paid | (1,943) | (1,012) | |||
Actuarial loss (gain) | 2,906 | 3,143 | |||
Benefit obligation, end of year | 31,919 | 29,700 | 25,860 | ||
Current liabilities | 2,030 | 1,890 | |||
Non-current liabilities | 29,889 | 27,810 | |||
Total benefit obligation | 31,919 | 29,700 | |||
Unrecognized actuarial loss | 8,582 | 5,626 | |||
Change in plan assets | |||||
Company contributions | 1,900 | ||||
Amounts recognized in accumulated other comprehensive income (after tax) | |||||
Unrecognized actuarial loss | 8,582 | 5,626 | |||
Accumulated Benefit Obligation | 31,900 | 29,700 | |||
Projected Benefit Obligation | 29,700 | 29,700 | 25,860 | 31,919 | 29,700 |
Foreign Plan [Member] | |||||
Change in benefit obligation | |||||
Benefit obligation, beginning of year | 277,813 | 243,717 | |||
Service cost | 1,628 | 1,032 | 1,061 | ||
Interest cost | 5,559 | 6,580 | 8,384 | ||
Benefits and expenses paid | (10,267) | (8,551) | |||
Actuarial loss (gain) | 13,351 | 73,600 | |||
Member contributions | 262 | 225 | |||
Currency translation adjustment | 32,202 | (38,790) | |||
Benefit obligation, end of year | 320,548 | 277,813 | 243,717 | ||
Unrecognized actuarial loss | 48,443 | 49,547 | |||
Change in plan assets | |||||
Plan assets, beginning of year | 258,365 | 239,281 | |||
Actuarial gain (loss) | 25,691 | 59,364 | |||
Company contributions | 2,812 | 4,991 | |||
Benefits paid | (10,267) | (8,552) | |||
Translation adjustment | 30,565 | (36,719) | |||
Plan assets, end of year | 307,166 | 258,365 | 239,281 | ||
Reconciliation to balance sheet | |||||
Funded status benefit asset/(liability) | (13,382) | (19,448) | |||
Net amount recognized | (13,382) | (19,448) | |||
Amounts recognized in accumulated other comprehensive income (after tax) | |||||
Unrecognized actuarial loss | 48,443 | 49,547 | |||
Unamortized prior service costs | (471) | (311) | |||
Total amount recognized | 47,972 | 49,236 | |||
Accumulated Benefit Obligation | 313,257 | 274,414 | |||
Projected Benefit Obligation | 277,813 | 277,813 | $ 243,717 | 320,548 | 277,813 |
Foreign Plan [Member] | Uk Plan [Member] | |||||
Change in benefit obligation | |||||
Benefit obligation, beginning of year | 171,172 | ||||
Benefit obligation, end of year | 190,992 | 171,172 | |||
Change in plan assets | |||||
Plan assets, beginning of year | 153,132 | ||||
Plan assets, end of year | 179,322 | 153,132 | |||
Amounts recognized in accumulated other comprehensive income (after tax) | |||||
Accumulated Benefit Obligation | 190,992 | 171,172 | |||
Projected Benefit Obligation | 190,992 | 171,172 | 190,992 | 171,172 | |
Plan Assets | 179,322 | 153,132 | |||
Foreign Plan [Member] | Dutch Plan [Member] | |||||
Change in benefit obligation | |||||
Benefit obligation, beginning of year | 106,641 | ||||
Benefit obligation, end of year | 129,554 | 106,641 | |||
Change in plan assets | |||||
Plan assets, beginning of year | 105,233 | ||||
Plan assets, end of year | 127,844 | 105,233 | |||
Amounts recognized in accumulated other comprehensive income (after tax) | |||||
Accumulated Benefit Obligation | 122,265 | 103,242 | |||
Projected Benefit Obligation | $ 129,554 | $ 106,641 | 129,554 | 106,641 | |
Plan Assets | $ 127,844 | $ 105,233 |
Note 15 - Employee Benefit Pl74
Note 15 - Employee Benefit Plans - Net Periodic Benefit Cost (Details) - Foreign Plan [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Components of net periodic benefit cost | |||
Service cost | $ 1,628 | $ 1,032 | $ 1,061 |
Interest cost | 5,559 | 6,580 | 8,384 |
Expected return on plan assets | (6,496) | (7,553) | (8,764) |
Amortizations | (34) | 33 | 33 |
Recognized net actuarial (gains)/losses | 1,287 | 1,076 | 1,359 |
Net periodic benefit cost | $ 1,944 | $ 1,168 | $ 2,073 |
Note 15 - Employee Benefit Pl75
Note 15 - Employee Benefit Plans - Assumptions Used to Determine Net Periodic (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Foreign Plan [Member] | |||
Weighted average assumptions used to determine net periodic benefit cost | |||
Discount rate | 2.00% | 2.70% | 3.00% |
Expected return on plan assets | 2.30% | 3.10% | 4.00% |
Rate of compensation | 1.75% | 2.00% | 2.00% |
Weighted average assumptions used to determine benefit obligations | |||
Discount rate | 2.20% | 2.30% | 3.40% |
Rate of compensation | 1.75% | 2.00% | 2.00% |
Components of net periodic benefit cost | |||
Service cost | $ 1,628 | $ 1,032 | $ 1,061 |
Interest cost | 5,559 | 6,580 | 8,384 |
Amortizations | (34) | 33 | 33 |
Net periodic benefit cost | $ 1,944 | $ 1,168 | $ 2,073 |
UNITED STATES | |||
Weighted average assumptions used to determine net periodic benefit cost | |||
Discount rate | 3.85% | 4.25% | 4.00% |
Rate of compensation | 4.00% | 4.00% | |
Weighted average assumptions used to determine benefit obligations | |||
Discount rate | 3.50% | 3.85% | 4.25% |
Rate of compensation | 4.00% | 4.00% | |
Components of net periodic benefit cost | |||
Service cost | $ 0 | $ 440 | $ 594 |
Interest cost | 1,256 | 1,269 | 1,113 |
Amortizations | 364 | 811 | 522 |
Net periodic benefit cost | $ 1,620 | $ 2,520 | $ 2,229 |
Note 15 - Employee Benefit Pl76
Note 15 - Employee Benefit Plans - Assets at Fair Value (Details) - Foreign Plan [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 |
Asset Category: | |||
Percentage of Plan Assets at Year End | 100.00% | 100.00% | |
Assets at fair value | $ 307,166 | $ 258,365 | $ 239,281 |
Dutch Plan [Member] | |||
Asset Category: | |||
Assets at fair value | 127,844 | 105,233 | |
Uk Plan [Member] | |||
Asset Category: | |||
Assets at fair value | 179,322 | 153,132 | |
Fair Value, Inputs, Level 1 [Member] | |||
Asset Category: | |||
Assets at fair value | 87,521 | 80,048 | |
Fair Value, Inputs, Level 1 [Member] | Dutch Plan [Member] | |||
Asset Category: | |||
Assets at fair value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Uk Plan [Member] | |||
Asset Category: | |||
Assets at fair value | 87,521 | 80,048 | |
Fair Value, Inputs, Level 2 [Member] | |||
Asset Category: | |||
Assets at fair value | 68,668 | 50,364 | |
Fair Value, Inputs, Level 2 [Member] | Dutch Plan [Member] | |||
Asset Category: | |||
Assets at fair value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Uk Plan [Member] | |||
Asset Category: | |||
Assets at fair value | 68,668 | 50,364 | |
Fair Value, Inputs, Level 3 [Member] | |||
Asset Category: | |||
Assets at fair value | 150,977 | 127,953 | |
Fair Value, Inputs, Level 3 [Member] | Dutch Plan [Member] | |||
Asset Category: | |||
Assets at fair value | 127,844 | 105,233 | |
Fair Value, Inputs, Level 3 [Member] | Uk Plan [Member] | |||
Asset Category: | |||
Assets at fair value | $ 23,133 | $ 22,720 | |
Maximum [Member] | |||
Asset Category: | |||
Target Allocation | 100.00% | ||
Equity Securities [Member] | |||
Asset Category: | |||
Target Allocation | 20.00% | ||
Percentage of Plan Assets at Year End | 16.00% | 15.00% | |
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Asset Category: | |||
Assets at fair value | $ 48,285 | $ 37,696 | |
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Asset Category: | |||
Assets at fair value | 0 | 0 | |
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Asset Category: | |||
Assets at fair value | $ 0 | $ 0 | |
Equity Securities [Member] | Minimum [Member] | |||
Asset Category: | |||
Target Allocation | 15.00% | ||
Debt Securities [Member] | |||
Asset Category: | |||
Target Allocation | 45.00% | ||
Percentage of Plan Assets at Year End | 32.00% | 36.00% | |
Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Asset Category: | |||
Assets at fair value | $ 36,780 | $ 37,175 | |
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Asset Category: | |||
Assets at fair value | 41,381 | 36,378 | |
Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Asset Category: | |||
Assets at fair value | $ 19,883 | $ 19,224 | |
Debt Securities [Member] | Minimum [Member] | |||
Asset Category: | |||
Target Allocation | 35.00% | ||
Other Securities [Member] | |||
Asset Category: | |||
Target Allocation | 50.00% | ||
Percentage of Plan Assets at Year End | 52.00% | 49.00% | |
Other Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Asset Category: | |||
Assets at fair value | $ 2,456 | $ 5,177 | |
Other Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Asset Category: | |||
Assets at fair value | 27,287 | 13,986 | |
Other Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Asset Category: | |||
Assets at fair value | $ 131,094 | $ 108,729 | |
Other Securities [Member] | Minimum [Member] | |||
Asset Category: | |||
Target Allocation | 40.00% | ||
Other Securities [Member] | Maximum [Member] | |||
Asset Category: | |||
Target Allocation |
Note 15 - Employee Benefit Pl77
Note 15 - Employee Benefit Plans - Change in Value Related to Level 3 Assets (Details) - Foreign Plan [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Jan. 01, 2017 | |
Plan assets, beginning of year | $ 258,365 | $ 239,281 |
Benefits paid | (10,267) | (8,552) |
Actuarial gain (loss) | 25,691 | 59,364 |
Translation adjustment | 30,565 | (36,719) |
Plan assets, end of year | 307,166 | 258,365 |
Fair Value, Inputs, Level 3 [Member] | ||
Plan assets, beginning of year | 127,953 | |
Interest cost | 2,633 | |
Benefits paid | (3,728) | |
Assets transferred in to (out of) Level 3 | (2,089) | |
Actuarial gain (loss) | 8,753 | |
Translation adjustment | 17,455 | |
Plan assets, end of year | $ 150,977 | $ 127,953 |
Note 15 - Employee Benefit Pl78
Note 15 - Employee Benefit Plans - Future Benefit Payments (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Foreign Plan [Member] | |
2,017 | $ 9,115 |
2,018 | 9,334 |
2,019 | 9,650 |
2,020 | 10,011 |
2,021 | 10,257 |
2022-2026 | 54,661 |
UNITED STATES | |
2,017 | 2,030 |
2,018 | 2,030 |
2,019 | 2,030 |
2,020 | 2,030 |
2,021 | 2,030 |
2022-2026 | $ 9,990 |
Note 16 - Enterprise-wide Dis79
Note 16 - Enterprise-wide Disclosures (Details Textual) | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Number of Operating Segments | 3 | ||
Number of Reportable Segments | 1 | ||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | Foreign Countries [Member] | |||
Concentration Risk, Percentage | 48.00% | 48.00% | 48.00% |
Note 16 - Enterprise-wide Dis80
Note 16 - Enterprise-wide Disclosures - Operating Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2017 | Oct. 01, 2017 | Jul. 02, 2017 | Apr. 02, 2017 | [2] | Jan. 01, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | ||||||
Net sales | $ 266,210 | [1] | $ 257,431 | $ 251,700 | $ 221,102 | $ 239,507 | [3] | $ 248,349 | $ 248,207 | $ 222,554 | $ 996,443 | [4] | $ 958,617 | [4] | $ 1,001,863 | [4] | |
Depreciation and amortization | 30,261 | 30,632 | 30,803 | ||||||||||||||
Total assets | 800,600 | 835,439 | 800,600 | 835,439 | |||||||||||||
Operating Segments [Member] | |||||||||||||||||
Net sales | 996,443 | 958,617 | 1,001,863 | ||||||||||||||
Depreciation and amortization | 28,259 | 29,066 | 29,564 | ||||||||||||||
Total assets | 719,957 | 737,399 | 719,957 | 737,399 | |||||||||||||
Americas [Member] | Operating Segments [Member] | |||||||||||||||||
Net sales | 588,052 | 568,138 | 593,163 | ||||||||||||||
Depreciation and amortization | 13,548 | 14,639 | 15,390 | ||||||||||||||
Total assets | 272,883 | 237,900 | 272,883 | 237,900 | |||||||||||||
Europe [Member] | Operating Segments [Member] | |||||||||||||||||
Net sales | 246,399 | 241,463 | 262,671 | ||||||||||||||
Depreciation and amortization | 6,049 | 5,698 | 5,007 | ||||||||||||||
Total assets | 253,519 | 261,182 | 253,519 | 261,182 | |||||||||||||
Asia Pacific [Member] | Operating Segments [Member] | |||||||||||||||||
Net sales | 161,992 | 149,016 | 146,029 | ||||||||||||||
Depreciation and amortization | 8,662 | 8,729 | $ 9,167 | ||||||||||||||
Total assets | $ 193,555 | $ 238,317 | $ 193,555 | $ 238,317 | |||||||||||||
[1] | Results for the fourth quarter of 2017 include tax charges of $15.2 million as a result of the recently enacted U.S. Tax Cuts and Jobs Act. | ||||||||||||||||
[2] | Results for the first quarter of 2017 include restructuring and asset impairment charges of $7.3 million. | ||||||||||||||||
[3] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. | ||||||||||||||||
[4] | Revenue attributed to geographic areas is based on the location of the customer. |
Note 16 - Enterprise-wide Dis81
Note 16 - Enterprise-wide Disclosures - Operating Segments Depreciation, Amortization, and Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Depreciation and amortization | $ 30,261 | $ 30,632 | $ 30,803 |
Total assets | 800,600 | 835,439 | |
Operating Segments [Member] | |||
Depreciation and amortization | 28,259 | 29,066 | 29,564 |
Total assets | 719,957 | 737,399 | |
Corporate, Non-Segment [Member] | |||
Depreciation and amortization | 2,002 | 1,566 | 1,239 |
Total assets | $ 80,643 | $ 98,040 |
Note 16 - Enterprise-wide Dis82
Note 16 - Enterprise-wide Disclosures - Revenue and Long-lived Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2017 | Oct. 01, 2017 | Jul. 02, 2017 | Apr. 02, 2017 | [2] | Jan. 01, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |||||||
Net sales | $ 266,210 | [1] | $ 257,431 | $ 251,700 | $ 221,102 | $ 239,507 | [3] | $ 248,349 | $ 248,207 | $ 222,554 | $ 996,443 | [4] | $ 958,617 | [4] | $ 1,001,863 | [4] | ||
Long-lived assets | [5] | 212,645 | 204,508 | 212,645 | 204,508 | |||||||||||||
UNITED STATES | ||||||||||||||||||
Net sales | [4] | 514,783 | 501,206 | 520,375 | ||||||||||||||
Long-lived assets | [5] | 76,557 | 79,365 | 76,557 | 79,365 | |||||||||||||
UNITED KINGDOM | ||||||||||||||||||
Net sales | [4] | 57,391 | 58,266 | 72,445 | ||||||||||||||
Long-lived assets | [5] | 7,902 | 8,122 | 7,902 | 8,122 | |||||||||||||
AUSTRALIA | ||||||||||||||||||
Net sales | [4] | 87,591 | 78,141 | 76,600 | ||||||||||||||
Long-lived assets | [5] | 45,067 | 44,209 | 45,067 | 44,209 | |||||||||||||
Other Foreign Countries [Member] | ||||||||||||||||||
Net sales | [4] | 336,678 | 321,004 | 332,443 | ||||||||||||||
Long-lived assets | [5] | 3,083 | 2,585 | 3,083 | 2,585 | |||||||||||||
NETHERLANDS | ||||||||||||||||||
Long-lived assets | [5] | 55,132 | 43,907 | 55,132 | 43,907 | |||||||||||||
THAILAND | ||||||||||||||||||
Long-lived assets | 16,543 | 16,645 | 16,543 | 16,645 | ||||||||||||||
CHINA | ||||||||||||||||||
Long-lived assets | [5] | $ 8,361 | $ 9,675 | $ 8,361 | $ 9,675 | |||||||||||||
[1] | Results for the fourth quarter of 2017 include tax charges of $15.2 million as a result of the recently enacted U.S. Tax Cuts and Jobs Act. | |||||||||||||||||
[2] | Results for the first quarter of 2017 include restructuring and asset impairment charges of $7.3 million. | |||||||||||||||||
[3] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. | |||||||||||||||||
[4] | Revenue attributed to geographic areas is based on the location of the customer. | |||||||||||||||||
[5] | Long-lived assets include tangible assets physically located in foreign countries. |
Note 17 - Quarterly Data and 83
Note 17 - Quarterly Data and Share Information (Unaudited) (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2017 | Apr. 02, 2017 | Jan. 01, 2017 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | |
Restructuring Costs and Asset Impairment Charges | $ 7,300 | $ 19,800 | ||||
Tax Adjustments, Settlements, and Unusual Provisions | $ 15,200 | $ 15,174 | $ 0 | $ 0 |
Note 17 - Quarterly Data and 84
Note 17 - Quarterly Data and Share Information (Unaudited) - Consolidated Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2017 | [1] | Oct. 01, 2017 | Jul. 02, 2017 | Apr. 02, 2017 | [2] | Jan. 01, 2017 | [3] | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 03, 2016 | Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | ||||
Net sales | $ 266,210 | $ 257,431 | $ 251,700 | $ 221,102 | $ 239,507 | $ 248,349 | $ 248,207 | $ 222,554 | $ 996,443 | [4] | $ 958,617 | [4] | $ 1,001,863 | [4] | |||
Gross profit | 101,778 | 98,544 | 97,897 | 87,802 | 89,968 | 92,918 | 99,126 | 86,632 | 386,021 | 368,644 | 382,889 | ||||||
Net income | $ 4,322 | $ 19,439 | $ 20,938 | $ 8,547 | $ 4,707 | $ 15,904 | $ 20,657 | $ 12,894 | $ 53,246 | $ 54,162 | $ 72,418 | ||||||
Basic income per share (in dollars per share) | $ 0.07 | $ 0.32 | $ 0.33 | $ 0.13 | $ 0.07 | $ 0.25 | $ 0.32 | $ 0.20 | $ 0.86 | $ 0.83 | $ 1.10 | ||||||
Diluted income per share (in dollars per share) | 0.07 | 0.32 | 0.33 | 0.13 | 0.07 | 0.25 | 0.32 | 0.20 | 0.86 | 0.83 | $ 1.10 | ||||||
Maximum [Member] | |||||||||||||||||
Share prices (in dollars per share) | 25.70 | 22.60 | 21.05 | 19.93 | 19.10 | 18.45 | 18.71 | 18.99 | 25.70 | [1] | 19.10 | [3] | |||||
Minimum [Member] | |||||||||||||||||
Share prices (in dollars per share) | $ 21.21 | $ 18.30 | $ 18.15 | $ 17.18 | $ 14.59 | $ 15.02 | $ 14.56 | $ 13.70 | $ 21.21 | [1] | $ 14.59 | [3] | |||||
[1] | Results for the fourth quarter of 2017 include tax charges of $15.2 million as a result of the recently enacted U.S. Tax Cuts and Jobs Act. | ||||||||||||||||
[2] | Results for the first quarter of 2017 include restructuring and asset impairment charges of $7.3 million. | ||||||||||||||||
[3] | Results for the fourth quarter of 2016 include restructuring and asset impairment charges of $19.8 million. | ||||||||||||||||
[4] | Revenue attributed to geographic areas is based on the location of the customer. |
Note 18 - Items Reclassified 85
Note 18 - Items Reclassified From Other Comprehensive Income (Details Textual) $ in Millions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Selling, General and Administrative Expenses [Member] | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | $ 1.6 |
Schedule II - Valuation and Q86
Schedule II - Valuation and Qualifying Accounts and Reserves - Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2017 | Jan. 01, 2017 | Jan. 03, 2016 | Jan. 04, 2016 | Dec. 28, 2014 | ||
Allowance for Doubtful Accounts [Member] | ||||||
BALANCE, AT BEGINNING OF YEAR | $ 3,493 | $ 3,780 | $ 4,479 | $ 5,896 | ||
CHARGED TO COSTS AND EXPENSES | [1] | 635 | (243) | 212 | ||
CHARGED TO OTHER ACCOUNTS | 0 | 0 | 0 | |||
DEDUCTIONS | [2] | 922 | 456 | 1,629 | ||
Business Restructuring Reserves [Member] | ||||||
BALANCE, AT BEGINNING OF YEAR | 2,568 | 10,291 | 104 | 7,179 | ||
CHARGED TO COSTS AND EXPENSES | [1] | 3,999 | 11,769 | (481) | ||
CHARGED TO OTHER ACCOUNTS | [3] | 3,300 | 8,019 | 0 | ||
DEDUCTIONS | [4] | 3,724 | 1,582 | 6,594 | ||
Warranty Reserves [Member] | ||||||
BALANCE, AT BEGINNING OF YEAR | 4,111 | 5,529 | 4,759 | $ 4,759 | $ 3,954 | |
CHARGED TO COSTS AND EXPENSES | [1] | 2,071 | 3,149 | 2,584 | ||
CHARGED TO OTHER ACCOUNTS | 0 | 0 | 0 | |||
DEDUCTIONS | [5] | $ 3,489 | $ 2,379 | $ 1,779 | ||
[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. |