Interface (TILE) 10-Q 11 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 01, 2018	May 05, 2018
Document Information [Line Items]
Entity Registrant Name	INTERFACE INC
Entity Central Index Key	715,787
Trading Symbol	tile
Current Fiscal Year End Date	--12-30
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)		59,494,324
Document Type	10-Q
Document Period End Date	Apr. 1, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Apr. 01, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 67,857	$ 87,037
Accounts receivable, net	137,890	142,808
Inventories, net	197,415	177,935
Prepaid expenses and other current assets	38,122	23,087
Total current assets	441,284	430,867
Property and equipment, net	214,689	212,645
Deferred tax asset	18,035	18,003
Goodwill, net	70,916	68,754
Other assets	70,529	70,331
Total assets	815,453	800,600
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	55,313	50,672
Accrued expenses	99,247	110,974
Current portion of long-term debt	15,000	15,000
Total current liabilities	169,560	176,646
Long-term debt	228,881	214,928
Deferred income taxes	7,326	6,935
Other	71,319	72,000
Total liabilities	477,086	470,509
Commitments and contingencies
Shareholders’ equity
Preferred stock	0	0
Common stock	5,950	5,981
Additional paid-in capital	260,115	271,271
Retained earnings	198,649	187,432
Accumulated other comprehensive loss – foreign currency translation	(70,113)	(78,943)
Accumulated other comprehensive income – cash flow hedge	2,536	904
Accumulated other comprehensive loss – pension liability	(58,770)	(56,554)
Total shareholders’ equity	338,367	330,091
Total liabilities and shareholders’ equity	$ 815,453	$ 800,600

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
NET SALES	$ 240,563	$ 221,102
Cost of Sales	146,981	133,300
GROSS PROFIT ON SALES	93,582	87,802
Selling, General and Administrative Expenses	70,594	64,714
Restructuring and Asset Impairment Charges	0	7,299
OPERATING INCOME	22,988	15,789
Interest Expense	2,094	1,617
Other Expense	519	1,394
INCOME BEFORE INCOME TAX EXPENSE	20,375	12,778
Income Tax Expense	5,291	4,231
Net Income	$ 15,084	$ 8,547
Earnings Per Share – Basic (in dollars per share)	$ 0.25	$ 0.13
Earnings Per Share – Diluted (in dollars per share)	$ 0.25	$ 0.13
Common Shares Outstanding – Basic (in shares)	59,671	64,081
Common Shares Outstanding – Diluted (in shares)	59,717	64,123

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Net income	$ 15,084	$ 8,547
Other Comprehensive Income, Foreign Currency Translation Adjustment	8,830	11,030
Other Comprehensive Income, Cash Flow Hedge	1,632	0
Other Comprehensive Loss, Pension Liability Adjustment	(2,216)	(932)
Comprehensive Income	$ 23,330	$ 18,645

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
OPERATING ACTIVITIES:
Net income	$ 15,084	$ 8,547
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	8,731	6,969
Stock compensation amortization expense	2,858	1,115
Deferred income taxes and other	1,800	920
Working capital changes:
Accounts receivable	6,338	11,661
Inventories	(17,240)	(18,610)
Prepaid expenses and current assets	(16,273)	(3,313)
Accounts payable and accrued expenses	(7,077)	(1,169)
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(5,779)	6,120
INVESTING ACTIVITIES:
Capital expenditures	(7,431)	(7,218)
Other	264	(390)
CASH USED IN INVESTING ACTIVITIES	(7,167)	(7,608)
FINANCING ACTIVITIES:
Repayments of long-term debt	(3,750)	(50,511)
Borrowing of long-term debt	17,210	0
Tax withholding payments for share-based compensation	(987)	(1,447)
Proceeds from issuance of common stock	124	0
Dividends paid	(3,868)	(3,806)
Repurchase of common stock	(14,485)	(31,061)
CASH USED IN FINANCING ACTIVITIES:	(5,756)	(86,825)
Net cash used in operating, investing and financing activities	(18,702)	(88,313)
Effect of exchange rate changes on cash	(478)	2,687
CASH AND CASH EQUIVALENTS:
Net change during the period	(19,180)	(85,626)
Balance at beginning of period	87,037	165,672
Balance at end of period	$ 67,857	$ 80,046

Note 1 - Condensed Footnotes

Note 1 - Condensed Footnotes	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 As contemplated by the Securities and Exchange Commission (the “Commission”) instructions to Form 10 not 10 December 31, 2017, The financial information included in this report has been prepared by the Company, without audit. In the opinion of management, the financial information included in this report contains all adjustments (all of which are normal and recurring) necessary for a fair presentation of the results for the interim periods. Nevertheless, the results shown for interim periods are not December 31, 2017 not first 2018 2017 13 Certain prior period amounts have been reclassified to conform to the current period presentation. There was no

Note 2 - Revenue Recognition

Note 2 - Revenue Recognition	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 2 Effective January 1, 2018, not Revenue Recognized from C ontracts with C ustomers 100% 95% The remaining revenue generated by the Company is for contracts to sell and install carpet and related products at customer locations. For projects underway, the Company recognized installation revenue over time as the customer simultaneously received and consumed the benefit of the services. The installation of the carpet and related products is a separate performance obligation from the sale of carpet. The majority of these projects are completed within 5 The Company has utilized the portfolio approach to its contracts with customers, as its contracts with customers have similar characteristics and it is reasonable to expect that the effects from applying this approach are not The Company does not Impairment L osses The Company does not Disaggregation of Revenue For the first 2018, Geography Percentage of Net Sales Americas 56.2 % Europe 27.7 % Asia-Pacific 16.1 % Revenue from sales of carpet, modular resilient flooring, and other flooring-related material was approximately 98% first 2018. 2% Performance O bligations As noted above, the Company primarily generates revenue through the sale of flooring material to end users either upon shipment or upon arrival of the product at its destination. In these instances, there typically is no not no 0.2% three no For the Company’s installation business, the sales of carpet and other flooring materials and installation services are separate deliverables which under the revenue recognition requirements should be characterized as sperate performance obligations. The Company historically has not 90% 5 not first 2018. Costs to O btain C ontracts The Company pays sales commissions to many of its sales personnel based upon their selling activity. These are direct costs associated with obtaining the contracts and under the standard. Under the accounting standard, these costs should be expensed as the revenue is earned. As these commissions become payable upon shipment (or in certain cases delivery) of product, the commission is earned as the revenue is recognized. Due to this fact pattern, there is no no

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 3 Inventories are summarized as follows: April 1, 2018 December 31 , 201 7 (In thousands) Finished Goods $ 134,673 $ 115,512 Work in Process 11,800 13,022 Raw Materials 50,942 49,401 Inventories, net $ 197,415 $ 177,935

Note 4 - Earnings Per Share

Note 4 - Earnings Per Share	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 4 The Company computes basic earnings per share (“EPS”) by dividing net income by the weighted average common shares outstanding, including participating securities outstanding, during the period as discussed below. Diluted EPS reflects the potential dilution beyond shares for basic EPS that could occur if securities or other contracts to issue common stock were exercised, converted into common stock or resulted in the issuance of common stock that would have shared in the Company’s earnings. The Company includes all unvested stock awards which contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic and diluted EPS calculations when the inclusion of these shares would be dilutive. Unvested share-based awards of restricted stock are paid dividends equally with all other shares of common stock. As a result, the Company includes all outstanding restricted stock awards in the calculation of basic and diluted EPS. Distributed earnings include common stock dividends and dividends earned on unvested share-based payment awards. Undistributed earnings represent earnings that were available for distribution but were not Three Months Ended April 1 , 201 8 April 2, 2017 Earnings Per Share : Basic Earnings Per Share: Distributed Earnings $ 0.06 $ 0.06 Undistributed Earnings 0.19 0.07 Total $ 0.25 $ 0.13 Diluted Earnings Per Share: Distributed Earnings $ 0.06 $ 0.06 Undistributed Earnings 0.19 0.07 Total $ 0.25 $ 0.13 Basic earnings per share $ 0.25 $ 0.13 Diluted earnings per share $ 0.25 $ 0.13 The following table presents net income that was attributable to participating securities. Three Months Ended April 1, 201 8 April 2, 2017 (In million s) Net Income Attributable to Participating Securities $ 0.2 $ 0.1 The weighted average shares for basic and diluted EPS were as follows: Three Months Ended April 1 , 201 8 April 2, 2017 (In thousands ) Weighted Average Shares Outstanding 59,069 63,635 Participating Securities 602 446 Shares for Basic Earnings Per Share 59,671 64,081 Dilutive Effect of Stock Options 46 42 Shares for Diluted Earnings Per Share 59,717 64,123 For the three April 1, 2018, April 2, 2017, no

Note 5 - Long-term Debt

Note 5 - Long-term Debt	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 5 Syndicated Credit Facility The Company has a syndicated credit facility (the “Facility”) pursuant to which the lenders provide to the Company and certain of its subsidiaries a multicurrency revolving credit facility and provide to the Company a term loan. Interest on base rate loans is charged at varying rates computed by applying a margin depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. Interest on LIBOR-based loans and fees for letters of credit are charged at varying rates computed by applying a margin over the applicable LIBOR rate, depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter. In addition, the Company pays a commitment fee per annum (depending on the Company’s consolidated net leverage ratio as of the most recently completed fiscal quarter) on the unused portion of the Facility. As of April 1, 2018, $166.3 $77.6 $5.7 April 1, 2018, 3.0%. The Company is required to make quarterly amortization payments of the term loan borrowing. The amortization payments are due on the last day of the calendar quarter. The quarterly amortization payment amount was $3.75 first 2018 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 In the third 2017, Cash Flow Interest Rate Swap The Company’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 first 2018. April 1, 2018 $100 As of April 1, 2018, $2.5 Other Lines of Credit Subsidiaries of the Company have an aggregate of the equivalent of $9.9 2.5% 6.5%. April 1, 2018, no

Note 6 - Stock-based Compensati

Note 6 - Stock-based Compensation	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 6 Stock Option Awards In accordance with accounting standards, the Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost will be recognized over the period in which the employee is required to provide the services – the requisite service period (usually the vesting period) – in exchange for the award. All outstanding stock options vested prior to the end of 2013, no first 2018 2017. As of April 1, 2018, 72,500 $7.99 no 2018 2017. 10,000 first 2018 no first 2018. no first 2017. $1.2 April 1, 2018. Restricted Stock Awards During the three April 1, 2018 April 2, 2017, 192,000 200,000 one three Compensation expense related to restricted stock grants was $1.1 $0.6 three April 1, 2018, April 2, 2017, The following table summarizes restricted stock outstanding as of April 1, 2018, three Restricted Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 463,000 $ 17.79 Granted 192,000 25.60 Vested 48,000 17.29 Forfeited or canceled 5,000 17.57 Outstanding at April 1, 2018 602,000 $ 23.30 As of April 1, 2018, $7.8 2020. Performance Share Awards During the three April 1, 2018 April 2, 2017, one three may may 200% The following table summarizes the performance shares outstanding as of April 1, 2018, three Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 669,500 $ 17.51 Granted 260,500 25.69 Vested 115,500 17.79 Forfeited or canceled 9,500 17.55 Outstanding at April 1, 2018 805,000 $ 20.12 Compensation expense related to the performance shares was $1.8 $0.5 three April 1, 2018, April 2, 2017, $9.5 April 1, 2018. 2020. The tax benefits recognized with regard to restricted stock and performance shares were approximately $0.6 first 2018.

Note 7 - Employee Benefit Plans

Note 7 - Employee Benefit Plans	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 7 The following tables provide the components of net periodic benefit cost for the three April 1, 2018 April 2, 2017, Three Months Ended Defined Benefit Retirement Plan s (Europe) April 1 , 201 8 April 2, 2017 (In thousands) Service cost $ 187 $ 384 Interest cost 1,353 1,334 Expected return on assets (1,602 ) (1,586 ) Amortization of prior service costs 7 0 Recognized net actuarial (gains)/losses 288 309 Net periodic benefit cost $ 233 $ 441 Three Months Ended Salary Continuation Plan (SCP) April 1 , 201 8 April 2, 2017 (In thousands) Service cost $ 0 $ 0 Interest cost 270 313 Amortization of prior service cost 0 0 Amortization of (gain)/loss 116 91 Net periodic benefit cost $ 386 $ 404 In accordance with applicable accounting standards, the service cost component of net periodic benefit costs is presented within earnings from operations in the consolidated condensed statement of operations, while all other components of net periodic benefit costs are presented within other expenses in the consolidated condensed statement of operations.

Note 8 - Segment Information

Note 8 - Segment Information	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 8– Based on applicable accounting standards, the Company has determined that it has three three one While the Company operates as one Summary information by operating segment follows: AMERICAS EUROPE ASIA- PACIFIC TOTAL (in thousands) Three Months Ended April 1, 2018: Net Sales $ 135,225 $ 66,556 $ 38,782 $ 240,563 Depreciation and amortization 3,611 2,254 2,208 8,073 Total assets 288,239 269,813 195,551 753,603 Three Months Ended April 2, 2017: Net Sales $ 131,762 $ 56,019 $ 33,321 $ 221,102 Depreciation and amortization 3,368 1,251 2,157 6,776 A reconciliation of the Company’s total operating segment depreciation and amortization, and assets to the corresponding consolidated amounts follows: Three Months Ended DEPRECIATION AND AMORTIZATION April 1 , 201 8 April 2 , 201 7 (In thousands) Total segment depreciation and amortization $ 8,073 $ 6,776 Corporate depreciation and amortization 658 193 Reported depreciation and amortization $ 8,731 $ 6,969 ASSETS April 1 , 201 8 (In thousands) Total segment assets $ 753,603 Corporate assets and eliminations 61,850 Reported total assets $ 815,453

Note 9 - Supplemental Cash Flow

Note 9 - Supplemental Cash Flow Information	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 9 Cash payments for interest amounted to $1.9 $1.6 April 1, 2018 April 2, 2017, $9.8 $4.7 three April 1, 2018 April 2, 2017,

Note 10 - Recently Issued Accou

Note 10 - Recently Issued Accounting Pronouncements	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 10 In February 2016, 12 December 15, 2018, In January 2017, 2 December 15, 2019. not In March 2017, December 15, 2017, no first 2018. first 2017 $0.5 no In February 2018, not December 15, 2018.

Note 11 - Income Taxes

Note 11 - Income Taxes	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 11 On December 22, 2017, The Company is applying the guidance to address the accounting for income taxes under accounting standards in situations when a registrant does not not twelve 10 December 31, 2017, two one not may For the first 2018, no 2017 For the first 2018, first 2018, 26%, 33% first 2017. Accounting standards require that all tax positions be analyzed using a two first not second not first three 2018, $0.2 April 1, 2018, $29.0 April 1, 2018 $3.3

Note 12 - Items Reclassified Fr

Note 12 - Items Reclassified From Other Comprehensive Income	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Reclassifications [Text Block]	NOTE 12 During the first 2018, not $0.4

Note 13 - Repurchase of Common

Note 13 - Repurchase of Common Stock	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 13 In the second 2017, $100 no During the first 2018, 615,000 $23.54

Note 14 - Restructuring and Ass

Note 14 - Restructuring and Asset Impairment Charges	3 Months Ended
	Apr. 01, 2018
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	NOTE 14 In the fourth 2016, 70 As a result of this plan, the Company incurred a pre-tax restructuring and asset impairment charge in the fourth 2016 $19.8 first 2017, $7.3 first 2017. first 2017 $3.4 $3.3 $0.6 A summary of these restructuring activities is presented below: Total Restructuring Charge Costs Incurred in 2016 Costs Incurred in 2017 Costs Incurred in 2018 Balance at April 1, 2018 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,633 $ 917 $ 1,651 Asset Impairment 11,319 8,019 3,300 0 0 Lease Exit Costs 5,116 27 5,089 0 0

Note 2 - Revenue Recognition (T

Note 2 - Revenue Recognition (Tables)	3 Months Ended
	Apr. 01, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Geography Percentage of Net Sales Americas 56.2 % Europe 27.7 % Asia-Pacific 16.1 %

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Apr. 01, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	April 1, 2018 December 31 , 201 7 (In thousands) Finished Goods $ 134,673 $ 115,512 Work in Process 11,800 13,022 Raw Materials 50,942 49,401 Inventories, net $ 197,415 $ 177,935

Note 4 - Earnings Per Share (Ta

Note 4 - Earnings Per Share (Tables)	3 Months Ended
	Apr. 01, 2018
Notes Tables
Distributed And Undistributed Earnings [Table Text Block]	Three Months Ended April 1 , 201 8 April 2, 2017 Earnings Per Share : Basic Earnings Per Share: Distributed Earnings $ 0.06 $ 0.06 Undistributed Earnings 0.19 0.07 Total $ 0.25 $ 0.13 Diluted Earnings Per Share: Distributed Earnings $ 0.06 $ 0.06 Undistributed Earnings 0.19 0.07 Total $ 0.25 $ 0.13 Basic earnings per share $ 0.25 $ 0.13 Diluted earnings per share $ 0.25 $ 0.13
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended April 1, 201 8 April 2, 2017 (In million s) Net Income Attributable to Participating Securities $ 0.2 $ 0.1 Three Months Ended April 1 , 201 8 April 2, 2017 (In thousands ) Weighted Average Shares Outstanding 59,069 63,635 Participating Securities 602 446 Shares for Basic Earnings Per Share 59,671 64,081 Dilutive Effect of Stock Options 46 42 Shares for Diluted Earnings Per Share 59,717 64,123

Note 6 - Stock-based Compensa23

Note 6 - Stock-based Compensation (Tables)	3 Months Ended
	Apr. 01, 2018
Notes Tables
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	Restricted Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 463,000 $ 17.79 Granted 192,000 25.60 Vested 48,000 17.29 Forfeited or canceled 5,000 17.57 Outstanding at April 1, 2018 602,000 $ 23.30
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 669,500 $ 17.51 Granted 260,500 25.69 Vested 115,500 17.79 Forfeited or canceled 9,500 17.55 Outstanding at April 1, 2018 805,000 $ 20.12

Note 7 - Employee Benefit Pla24

Note 7 - Employee Benefit Plans (Tables)	3 Months Ended
	Apr. 01, 2018
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended Defined Benefit Retirement Plan s (Europe) April 1 , 201 8 April 2, 2017 (In thousands) Service cost $ 187 $ 384 Interest cost 1,353 1,334 Expected return on assets (1,602 ) (1,586 ) Amortization of prior service costs 7 0 Recognized net actuarial (gains)/losses 288 309 Net periodic benefit cost $ 233 $ 441 Three Months Ended Salary Continuation Plan (SCP) April 1 , 201 8 April 2, 2017 (In thousands) Service cost $ 0 $ 0 Interest cost 270 313 Amortization of prior service cost 0 0 Amortization of (gain)/loss 116 91 Net periodic benefit cost $ 386 $ 404

Note 8 - Segment Information (T

Note 8 - Segment Information (Tables)	3 Months Ended
	Apr. 01, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	AMERICAS EUROPE ASIA- PACIFIC TOTAL (in thousands) Three Months Ended April 1, 2018: Net Sales $ 135,225 $ 66,556 $ 38,782 $ 240,563 Depreciation and amortization 3,611 2,254 2,208 8,073 Total assets 288,239 269,813 195,551 753,603 Three Months Ended April 2, 2017: Net Sales $ 131,762 $ 56,019 $ 33,321 $ 221,102 Depreciation and amortization 3,368 1,251 2,157 6,776
Reconciliation of Depreciation, Amortization, and Assets from Segments to Consolidated [Table Text Block]	Three Months Ended DEPRECIATION AND AMORTIZATION April 1 , 201 8 April 2 , 201 7 (In thousands) Total segment depreciation and amortization $ 8,073 $ 6,776 Corporate depreciation and amortization 658 193 Reported depreciation and amortization $ 8,731 $ 6,969
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	ASSETS April 1 , 201 8 (In thousands) Total segment assets $ 753,603 Corporate assets and eliminations 61,850 Reported total assets $ 815,453

Note 14 - Restructuring and A26

Note 14 - Restructuring and Asset Impairment Charges (Tables)	3 Months Ended
	Apr. 01, 2018
Notes Tables
Restructuring and Related Costs [Table Text Block]	Total Restructuring Charge Costs Incurred in 2016 Costs Incurred in 2017 Costs Incurred in 2018 Balance at April 1, 2018 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,633 $ 917 $ 1,651 Asset Impairment 11,319 8,019 3,300 0 0 Lease Exit Costs 5,116 27 5,089 0 0

Note 2 - Revenue Recognition (D

Note 2 - Revenue Recognition (Details Textual)	3 Months Ended
	Apr. 01, 2018
Percent of Revenue Due to Contracts With Customers	100.00%
Percent of Warranty Claims to Revenue	0.20%
Carpet, Modular Resilient Flooring, and Related Products [Member]
Percent of Revenue Due to Contracts With Customers	95.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	5 days
Percent of Revenue Due to Sales To Customers	98.00%
Installation of Carpet and Other Flooring Related Material [Member]
Percent of Revenue Due to Sales To Customers	2.00%

Note 2 - Revenue Recognition -

Note 2 - Revenue Recognition - Disaggregation of Revenue (Details)	3 Months Ended
	Apr. 01, 2018
Americas [Member]
Americas	56.20%
Europe [Member]
Americas	27.70%
Asia Pacific [Member]
Americas	16.10%

Note 3 - Inventories - Summary

Note 3 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Apr. 01, 2018	Dec. 31, 2017
Finished Goods	$ 134,673	$ 115,512
Work in Process	11,800	13,022
Raw Materials	50,942	49,401
Inventories, net	$ 197,415	$ 177,935

Note 4 - Earnings Per Share (De

Note 4 - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0

Note 4 - Earnings Per Share - D

Note 4 - Earnings Per Share - Distributed and Undistributed Earnings (Details) - $ / shares	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Basic Earnings Per Share:
Distributed Earnings (in dollars per share)	$ 0.06	$ 0.06
Undistributed Earnings (in dollars per share)	0.19	0.07
Total (in dollars per share)	0.25	0.13
Diluted Earnings Per Share:
Distributed Earnings (in dollars per share)	0.06	0.06
Undistributed Earnings (in dollars per share)	0.19	0.07
Total (in dollars per share)	0.25	0.13
Basic earnings per share (in dollars per share)	0.25	0.13
Diluted earnings per share (in dollars per share)	$ 0.25	$ 0.13

Note 4 - Earnings Per Share - C

Note 4 - Earnings Per Share - Calculation of Income (Loss) Per Shares (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Net income	$ 15,084	$ 8,547
Shares for Basic Earnings Per Share (in shares)	59,671	64,081
Dilutive Effect of Stock Options (in shares)	46	42
Shares for Diluted Earnings Per Share (in shares)	59,717	64,123
Participating Securities [Member]
Net income	$ 200	$ 100
Weighted Average Shares Outstanding (in shares)	59,069	63,635
Participating Securities (in shares)	602	446

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual) $ in Thousands	3 Months Ended
	Apr. 01, 2018USD ($)
Interest Rate Swap [Member]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 0
Derivative, Notional Amount	100,000
Interest Rate Swap [Member] | Other Assets [Member]
Derivative Asset, Fair Value, Gross Asset, Total	2,500
Syndicated Facility Agreement [Member]
Long-term Line of Credit, Total	77,600
Letters of Credit Outstanding, Amount	$ 5,700
Long-term Debt, Weighted Average Interest Rate, at Point in Time	3.00%
Syndicated Facility Agreement [Member] | Term Loan A [Member]
Long-term Debt, Total	$ 166,300
Debt Instrument, Periodic Payment, Total	3,750
Other Line Of Credit [Member]
Long-term Line of Credit, Total	0
Line of Credit Facility, Maximum Borrowing Capacity	$ 9,900
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 6 - Stock-based Compensa34

Note 6 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	72,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 7.99
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	10,000	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	1,200
Employee Stock Option [Member]
Allocated Share-based Compensation Expense, Total	0	$ 0
Restricted Stock [Member]
Allocated Share-based Compensation Expense, Total	$ 1,100	$ 600
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	192,000	200,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 7,800
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Performance Shares [Member]
Allocated Share-based Compensation Expense, Total	$ 1,800	$ 500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	260,500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options	$ 9,500
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Shares Issued During Exercise of Instrument, Upper Limit, Percentage	200.00%
Performance Shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Performance Shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Restricted and Performance Shares [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 600

Note 6 - Stock-based Compensa35

Note 6 - Stock-based Compensation - Restricted Stock Outstanding (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Outstanding at December 31, 2017 (in shares)	463,000
Outstanding at December 31, 2017 (in dollars per share)	$ 17.79
Granted (in shares)	192,000	200,000
Granted (in dollars per share)	$ 25.60
Vested (in shares)	48,000
Vested (in dollars per share)	$ 17.29
Forfeited or canceled (in shares)	5,000
Forfeited or canceled (in dollars per share)	$ 17.57
Outstanding at April 1, 2018 (in shares)	602,000
Outstanding at April 1, 2018 (in dollars per share)	$ 23.30

Note 6 - Stock-based Compensa36

Note 6 - Stock-based Compensation - Performance Shares Outstanding (Details) - Performance Shares [Member]	3 Months Ended
	Apr. 01, 2018$ / sharesshares
Outstanding at December 31, 2017 (in shares) | shares	669,500
Outstanding at December 31, 2017 (in dollars per share) | $ / shares	$ 17.51
Granted (in shares) | shares	260,500
Granted (in dollars per share) | $ / shares	$ 25.69
Vested (in shares) | shares	115,500
Vested (in dollars per share) | $ / shares	$ 17.79
Forfeited or canceled (in shares) | shares	9,500
Forfeited or canceled (in dollars per share) | $ / shares	$ 17.55
Outstanding at April 1, 2018 (in shares) | shares	805,000
Outstanding at April 1, 2018 (in dollars per share) | $ / shares	$ 20.12

Note 7 - Employee Benefit Pla37

Note 7 - Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Foreign Plan [Member]
Service cost	$ 187	$ 384
Interest cost	1,353	1,334
Expected return on assets	(1,602)	(1,586)
Amortization of prior service costs	7	0
Recognized net actuarial (gains)/losses	288	309
Net periodic benefit cost	233	441
UNITED STATES | Salary Continuation Plan [Member]
Service cost	0	0
Interest cost	270	313
Amortization of prior service costs	0	0
Net periodic benefit cost	386	404
Amortization of (gain)/loss	$ 116	$ 91

Note 8 - Segment Information (D

Note 8 - Segment Information (Details Textual)	3 Months Ended
	Apr. 01, 2018
Number of Operating Segments	3
Number of Reportable Segments	1

Note 8 - Segment Information -

Note 8 - Segment Information - Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017	Dec. 31, 2017
NET SALES	$ 240,563	$ 221,102
Depreciation and amortization	8,731	6,969
Assets	815,453		$ 800,600
Operating Segments [Member]
NET SALES	240,563	221,102
Depreciation and amortization	8,073	6,776
Assets	753,603
Americas [Member] | Operating Segments [Member]
NET SALES	135,225	131,762
Depreciation and amortization	3,611	3,368
Assets	288,239
Europe [Member] | Operating Segments [Member]
NET SALES	66,556	56,019
Depreciation and amortization	2,254	1,251
Assets	269,813
Asia Pacific [Member] | Operating Segments [Member]
NET SALES	38,782	33,321
Depreciation and amortization	2,208	$ 2,157
Assets	$ 195,551

Note 8 - Segment Information 40

Note 8 - Segment Information - Operating Segments Depreciation, Amortization, and Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Depreciation and amortization	$ 8,731	$ 6,969
Operating Segments [Member]
Depreciation and amortization	8,073	6,776
Corporate, Non-Segment [Member]
Depreciation and amortization	$ 658	$ 193

Note 8 - Segment Information 41

Note 8 - Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands	Apr. 01, 2018	Dec. 31, 2017
Assets	$ 815,453	$ 800,600
Operating Segments [Member]
Assets	753,603
Corporate, Non-Segment [Member]
Assets	$ 61,850

Note 9 - Supplemental Cash Fl42

Note 9 - Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 1.9	$ 1.6
Income Taxes Paid	$ 9.8	$ 4.7

Note 10 - Recently Issued Acc43

Note 10 - Recently Issued Accounting Pronouncements (Details Textual) $ in Millions	3 Months Ended
	Apr. 01, 2018USD ($)
Relcassification From Selling, General and Administrative Expenses to Other Expenses [Member] | Quarter Ended April 02, 2017 [Member]
Prior Period Reclassification Adjustment	$ 0.5

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2018	Apr. 02, 2017
Effective Income Tax Rate Reconciliation, Percent, Total	26.00%	33.00%
Unrecognized Tax Benefits, Period Increase (Decrease), Total	$ 0.2
Unrecognized Tax Benefits, Ending Balance	29
Increase (Decrease) in Deferred Tax Assets	$ 3.3

Note 12 - Items Reclassified 45

Note 12 - Items Reclassified From Other Comprehensive Income (Details Textual) $ in Millions	3 Months Ended
	Apr. 01, 2018USD ($)
Other Expense [Member]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax, Total	$ 0.4

Note 13 - Repurchase of Commo46

Note 13 - Repurchase of Common Stock (Details Textual) - Common Stock [Member] - USD ($) $ / shares in Units, $ in Billions	3 Months Ended
	Apr. 01, 2018	Jul. 02, 2017
Stock Repurchase Program, Authorized Amount		$ 0.1
Stock Repurchased and Retired During Period, Shares	615,000
Treasury Stock Acquired, Average Cost Per Share	$ 23.54

Note 14 - Restructuring and A47

Note 14 - Restructuring and Asset Impairment Charges (Details Textual) $ in Thousands	3 Months Ended		27 Months Ended
	Apr. 02, 2017USD ($)	Jan. 01, 2017USD ($)	Apr. 01, 2018USD ($)
Restructuring and Related Cost, Number of Positions Eliminated		70
Restructuring Charges, Total	$ 7,300	$ 19,800
Other Restructuring [Member]
Restructuring Charges, Total	3,400		$ 5,116
Fixed Asset Impairment [Member]
Restructuring Charges, Total	3,300		11,319
Employee Severance [Member]
Restructuring Charges, Total	$ 600		$ 10,652

Note 14 - Restructuring and A48

Note 14 - Restructuring and Asset Impairment Charges - Restructuring Activities (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended		27 Months Ended
	Apr. 01, 2018	Apr. 02, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017	Apr. 01, 2018
Total restructuring charge		$ 7,300	$ 19,800
Employee Severance [Member]
Total restructuring charge		600				$ 10,652
Cost incurred	$ 917			$ 6,633	$ 1,451
Balance	1,651					1,651
Fixed Asset Impairment [Member]
Total restructuring charge		3,300				11,319
Cost incurred	0			3,300	8,019
Balance	0					0
Other Restructuring [Member]
Total restructuring charge		$ 3,400				5,116
Cost incurred	0			$ 5,089	$ 27
Balance	$ 0					$ 0