Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jul. 01, 2018 | Aug. 01, 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) | 59,494,146 | |
Document Type | 10-Q | |
Document Period End Date | Jul. 1, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Condensed Balance
Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jul. 01, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 66,983 | $ 87,037 |
Accounts receivable, net | 156,602 | 142,808 |
Inventories, net | 199,127 | 177,935 |
Prepaid expenses and other current assets | 38,082 | 23,087 |
Total current assets | 460,794 | 430,867 |
Property and equipment, net | 207,994 | 212,645 |
Deferred tax asset | 17,904 | 18,003 |
Goodwill, net | 67,042 | 68,754 |
Other assets | 70,893 | 70,331 |
Total assets | 824,627 | 800,600 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Accounts payable | 61,542 | 50,672 |
Accrued expenses | 102,953 | 110,974 |
Current portion of long-term debt | 15,000 | 15,000 |
Total current liabilities | 179,495 | 176,646 |
Long-term debt | 228,531 | 214,928 |
Deferred income taxes | 6,750 | 6,935 |
Other | 69,248 | 72,000 |
Total liabilities | 484,024 | 470,509 |
Commitments and Contingencies | ||
Shareholders’ equity | ||
Preferred stock | 0 | 0 |
Common stock | 5,949 | 5,981 |
Additional paid-in capital | 262,285 | 271,271 |
Retained Earnings | 215,383 | 187,432 |
Accumulated other comprehensive loss – foreign currency translation | (90,886) | (78,943) |
Accumulated other comprehensive income – cash flow hedge | 3,183 | 904 |
Accumulated other comprehensive loss – pension liability | (55,311) | (56,554) |
Total shareholders’ equity | 340,603 | 330,091 |
Total liabilities and shareholders’ equity | $ 824,627 | $ 800,600 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | |
NET SALES | $ 283,626 | $ 251,700 | $ 524,189 | $ 472,802 |
Cost of Sales | 174,478 | 153,803 | 321,459 | 287,103 |
GROSS PROFIT ON SALES | 109,148 | 97,897 | 202,730 | 185,699 |
Selling, General and Administrative Expenses | 75,445 | 64,386 | 146,039 | 129,100 |
Restructuring and Asset Impairment Charges | 0 | 0 | 0 | 7,299 |
OPERATING INCOME | 33,703 | 33,511 | 56,691 | 49,300 |
Interest Expense | 2,261 | 1,682 | 4,355 | 3,299 |
Other Expense | 3,261 | 698 | 3,780 | 2,092 |
INCOME BEFORE INCOME TAX EXPENSE | 28,181 | 31,131 | 48,556 | 43,909 |
Income Tax Expense | 7,579 | 10,193 | 12,870 | 14,424 |
NET INCOME | $ 20,602 | $ 20,938 | $ 35,686 | $ 29,485 |
Earnings Per Share – Basic (in dollars per share) | $ 0.35 | $ 0.33 | $ 0.60 | $ 0.46 |
Earnings Per Share – Diluted (in dollars per share) | $ 0.35 | $ 0.33 | $ 0.60 | $ 0.46 |
Common Shares Outstanding – Basic (in shares) | 59,493 | 62,789 | 59,582 | 63,432 |
Common Shares Outstanding – Diluted (in shares) | 59,538 | 62,832 | 59,627 | 63,474 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | |
Net Income | $ 20,602 | $ 20,938 | $ 35,686 | $ 29,485 |
Other Comprehensive Income / (Loss), Foreign Currency Translation Adjustment | (20,773) | 9,800 | (11,943) | 20,830 |
Other Comprehensive Income, Cash Flow Hedge | 647 | 0 | 2,279 | 0 |
Other Comprehensive Income / (Loss), Pension Liability Adjustment | 3,459 | (2,048) | 1,243 | (2,980) |
Comprehensive Income | $ 3,935 | $ 28,690 | $ 27,265 | $ 47,335 |
Consolidated Condensed Stateme5
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 01, 2018 | Jul. 02, 2017 | |
OPERATING ACTIVITIES: | ||
Net Income | $ 35,686 | $ 29,485 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Depreciation and amortization | 17,190 | 14,422 |
Stock compensation amortization expense | 5,616 | 1,821 |
Deferred income taxes and other | (729) | 2,870 |
Working capital changes: | ||
Accounts receivable | (16,410) | (6,288) |
Inventories | (24,281) | (21,087) |
Prepaid expenses and current assets | (17,974) | (667) |
Accounts payable and accrued expenses | 5,890 | 1,389 |
CASH PROVIDED BY OPERATING ACTIVITIES: | 4,988 | 21,945 |
INVESTING ACTIVITIES: | ||
Capital expenditures | (16,363) | (15,352) |
Other | 533 | 306 |
CASH USED IN INVESTING ACTIVITIES: | (15,830) | (15,046) |
FINANCING ACTIVITIES: | ||
Repayments of long-term debt | (7,500) | (54,675) |
Borrowing of long-term debt | 23,210 | 10,000 |
Tax withholding payments for share-based compensation | (1,052) | (1,406) |
Proceeds from issuance of common stock | 124 | 0 |
Dividends paid | (7,735) | (7,575) |
Repurchase of common stock | (14,485) | (55,667) |
CASH USED IN FINANCING ACTIVITIES: | (7,438) | (109,323) |
Net cash used in operating, investing and financing activities | (18,280) | (102,424) |
Effect of exchange rate changes on cash | (1,774) | 3,535 |
CASH AND CASH EQUIVALENTS: | ||
Net change during the period | (20,054) | (98,889) |
Balance at beginning of period | 87,037 | 165,672 |
Balance at end of period | $ 66,983 | $ 66,783 |
Note 1 - Condensed Footnotes
Note 1 - Condensed Footnotes | 6 Months Ended |
Jul. 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 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 | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2 Effective January 1, 2018, not Revenue Recognized from Contracts with Customers 100% 97% 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 Losses The Company does not Disaggregation of Revenue For the first six July 1, 2018, Geography Percentage of Net Sales Americas 59.4% Europe 25.3% Asia-Pacific 15.3% Revenue from sales of carpet, modular resilient flooring, and other flooring-related material was approximately 97% six July 1, 2018. 3% Performance Obligations 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 separate performance obligations. The Company historically has not 90% 5 not second 2018. Costs to Obtain Contracts 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. 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 | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3– Inventories are summarized as follows: July 1 , 201 8 December 31 , 201 7 (In thousands) Finished Goods $ 137,724 $ 115,512 Work in Process 11,617 13,022 Raw Materials 49,786 49,401 $ 199,127 $ 177,935 |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 6 Months Ended |
Jul. 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 Six Months Ended July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 Earnings Per Share : Basic Earnings Per Share: Distributed Earnings $ 0.07 $ 0.06 $ 0.13 $ 0.12 Undistributed Earnings 0.28 0.27 0.47 0.34 Total $ 0.35 $ 0.33 $ 0.60 $ 0.46 Diluted Earnings Per Share: Distributed Earnings $ 0.07 $ 0.06 $ 0.13 $ 0.12 Undistributed Earnings 0.28 0.27 0.47 0.34 Total $ 0.35 $ 0.33 $ 0.60 $ 0.46 Basic earnings per share $ 0.35 $ 0.33 $ 0.60 $ 0.46 Diluted earnings per share $ 0.35 $ 0.33 $ 0.60 $ 0.46 The following tables present net income that was attributable to participating securities: Three Months Ended Six Months Ended July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 ( I n millions) Net Income Attributable to Participating Securities $ 0.2 $ 0.2 $ 0.3 $ 0.3 The weighted average shares outstanding for basic and diluted EPS were as follows: Three Months Ended Six Months Ended July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 ( I n thousands) Weighted Average Shares Outstanding 58,910 62,305 58,999 62,948 Participating Securities 583 484 583 484 Shares for Basic Earnings Per Share 59,493 62,789 59,582 63,432 Dilutive Effect of Stock Options 45 43 45 42 Shares for Diluted Earnings Per Share 59,538 62,832 59,627 63,474 For all periods presented, there were no |
Note 5 - Long-term Debt
Note 5 - Long-term Debt | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 5 Syndicated Credit Facility At July 1, 2018, As of July 1, 2018, $162.5 $81.0 $5.7 July 1, 2018, 3.4%. 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 second 2018. On August 7, 2018, second 8 16 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 six 2018. July 1, 2018 $100 As of July 1, 2018, $3.2 Other Lines of Credit Subsidiaries of the Company have an aggregate of the equivalent of $9.8 2.5% 6.5%. July 1, 2018, no |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 6 Months Ended |
Jul. 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 six 2018 2017. As of July 1, 2018, 72,500 $7.99 no 2018 2017. 10,000 first six 2018 no six no first six 2017. $1.1 July 1, 2018. Restricted Stock Awards During the six July 1, 2018 July 2, 2017, 192,000 244,000 one three Compensation expense related to restricted stock grants was $2.0 $1.3 six July 1, 2018 July 2, 2017, The following table summarizes restricted stock outstanding as of July 1, 2018, six Restricted Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 463,000 $ 17.79 Granted 192,000 25.60 Vested 62,000 17.55 Forfeited or canceled 10,000 18.09 Outstanding at July 1, 2018 583,000 $ 24.74 As of July 1, 2018, $6.6 2021. Performance Share Awards During the six July 1, 2018 July 2, 2017, one three may may 200% The following table summarizes the performance shares outstanding as of July 1, 2018, six Performance Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 669,500 $ 17.51 Granted 261,000 25.69 Vested 119,000 17.78 Forfeited or canceled 19,000 18.11 Outstanding at July 1, 2018 792,500 $ 20.15 Compensation expense related to performance shares was $3.6 $0.5 six July 1, 2018, July 2, 2017, $7.7 July 1, 2018. 2021. The tax benefits recognized with regard to restricted stock and performance shares were approximately $1.3 six July 1, 2018. |
Note 7 - Employee Benefit Plans
Note 7 - Employee Benefit Plans | 6 Months Ended |
Jul. 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 six July 1, 2018 July 2, 2017, Three Months Ended Six Months Ended Defined Benefit Retirement Plan (Europe) July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 (In thousands) (In thousands) Service cost $ 182 $ 397 $ 369 $ 780 Interest cost 1,318 1,378 2,671 2,712 Expected return on assets (1,562 ) (1,628 ) (3,164 ) (3,216 ) Amortization of prior service costs 8 (9 ) 15 (16 ) Recognized net actuarial (gains) / losses 281 320 569 629 Net periodic benefit cost $ 227 $ 458 $ 460 $ 889 Three Months Ended Six Months Ended Salary Continuation Plan (SCP) July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 (In thousands) (In thousands) Service cost $ 0 $ 0 $ 0 $ 0 Interest cost 271 314 541 628 Amortization of prior service cost 0 0 0 0 Amortization of (gain) / loss 116 91 232 182 Net periodic benefit cost $ 387 $ 405 $ 773 $ 810 |
Note 8 - Acquisition of Nora
Note 8 - Acquisition of Nora | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 8 On June 14, 2018, third second 2018 $5.8 $3.0 On June 14, 2018, not $2.8 second 2018 second €315 $364 July 1, 2018) 120 As of July 1, 2018, $1.9 On August 7, 2018, second 16 |
Note 9 - Segment Information
Note 9 - Segment Information | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 9 Based on applicable accounting standards, the Company has determined that it has three three one While the Company operates as one AMERICAS EUROPE ASIA- PACIFIC TOTAL (in thousands) Three Months Ended July 1, 2018: Net Sales $ 176,380 $ 65,865 $ 41,381 $ 283,626 Depreciation and amortization 3,480 2,048 2,212 7,740 Total assets 314,436 258,138 193,073 765,647 Three Months Ended July 2 , 201 7 Net Sales $ 153,616 $ 57,811 $ 40,273 $ 251,700 Depreciation and amortization 3,310 1,314 2,090 6,714 Six Months Ended July 1 , 201 8 Net Sales $ 311,605 $ 132,421 $ 80,163 $ 524,189 Depreciation and amortization 7,091 4,302 4,420 15,813 Six Months Ended July 2 , 201 7 Net Sales $ 285,378 $ 113,830 $ 73,594 $ 472,802 Depreciation and amortization 6,678 2,611 4,247 13,536 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 July 1 , 201 8 July 2 , 201 7 (In thousands) Total segment depreciation and amortization $ 7,740 $ 6,714 Corporate depreciation and amortization 719 739 Reported depreciation and amortization $ 8,459 $ 7,453 Six Months Ended DEPRECIATION AND AMORTIZATION July 1 , 201 8 July 2 , 201 7 (In thousands) Total segment depreciation and amortization $ 15,813 $ 13,536 Corporate depreciation and amortization 1,377 886 Reported depreciation and amortization $ 17,190 $ 14,422 ASSETS July 1 , 201 8 (In thousands) Total segment assets $ 765,647 Corporate assets and eliminations 58,980 Reported total assets $ 824,627 |
Note 10 - Supplemental Cash Flo
Note 10 - Supplemental Cash Flow Information | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 10 Cash payments for interest amounted to $3.9 $3.2 six July 1, 2018 July 2, 2017, $14.9 $11.5 six July 1, 2018 July 2, 2017, |
Note 11 - Recently Issued Accou
Note 11 - Recently Issued Accounting Pronouncements | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 11 In February 2016, 12 December 15, 2018, In January 2017, 2 December 15, 2019. not In March 2017, December 15, 2017, no first 2018. 2017 $0.5 first two 2017 no In August 2017, December 15, 2018. not In February 2018, not December 15, 2018. In June 2018, December 15, 2018. not |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 12– 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 six July 1, 2018, no 2017 During the six July 1, 2018, six July 1, 2018, 27%, 33% first six 2017. Accounting standards require that all tax positions be analyzed using a two first not second not first six 2018, $0.3 July 1, 2018, $28.9 July 1, 2018 $3.3 |
Note 13 - Items Reclassified Fr
Note 13 - Items Reclassified From Other Comprehensive Income | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | NOTE 13 During the first six 2018, not $0.8 |
Note 14 - Repurchase of Common
Note 14 - Repurchase of Common Stock | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 14 In 2017, $100 no During the first six 2018, 615,000 $23.54 |
Note 15 - Restructuring and Ass
Note 15 - Restructuring and Asset Impairment Charges | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 15 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 July 1, 2018 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,633 $ 1,543 $ 1,025 Asset Impairment 11,319 8,019 3,300 0 0 Lease Exit Costs 5,116 27 5,089 0 0 |
Note 16 - Subequent Events
Note 16 - Subequent Events | 6 Months Ended |
Jul. 01, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 16 On August 7, 2018, second €385 $447 €41 $47 €344 $400 In connection with the acquisition of nora, the Company amended and restated its Syndicated Credit Facility as described in Item 1.01 8 July 26, 2018. |
Note 2 - Revenue Recognition (T
Note 2 - Revenue Recognition (Tables) | 6 Months Ended |
Jul. 01, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Geography Percentage of Net Sales Americas 59.4% Europe 25.3% Asia-Pacific 15.3% |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 6 Months Ended |
Jul. 01, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | July 1 , 201 8 December 31 , 201 7 (In thousands) Finished Goods $ 137,724 $ 115,512 Work in Process 11,617 13,022 Raw Materials 49,786 49,401 $ 199,127 $ 177,935 |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 6 Months Ended |
Jul. 01, 2018 | |
Notes Tables | |
Distributed And Undistributed Earnings [Table Text Block] | Three Months Ended Six Months Ended July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 Earnings Per Share : Basic Earnings Per Share: Distributed Earnings $ 0.07 $ 0.06 $ 0.13 $ 0.12 Undistributed Earnings 0.28 0.27 0.47 0.34 Total $ 0.35 $ 0.33 $ 0.60 $ 0.46 Diluted Earnings Per Share: Distributed Earnings $ 0.07 $ 0.06 $ 0.13 $ 0.12 Undistributed Earnings 0.28 0.27 0.47 0.34 Total $ 0.35 $ 0.33 $ 0.60 $ 0.46 Basic earnings per share $ 0.35 $ 0.33 $ 0.60 $ 0.46 Diluted earnings per share $ 0.35 $ 0.33 $ 0.60 $ 0.46 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 ( I n millions) Net Income Attributable to Participating Securities $ 0.2 $ 0.2 $ 0.3 $ 0.3 Three Months Ended Six Months Ended July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 ( I n thousands) Weighted Average Shares Outstanding 58,910 62,305 58,999 62,948 Participating Securities 583 484 583 484 Shares for Basic Earnings Per Share 59,493 62,789 59,582 63,432 Dilutive Effect of Stock Options 45 43 45 42 Shares for Diluted Earnings Per Share 59,538 62,832 59,627 63,474 |
Note 6 - Stock-based Compensa25
Note 6 - Stock-based Compensation (Tables) | 6 Months Ended |
Jul. 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 62,000 17.55 Forfeited or canceled 10,000 18.09 Outstanding at July 1, 2018 583,000 $ 24.74 |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Performance Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 669,500 $ 17.51 Granted 261,000 25.69 Vested 119,000 17.78 Forfeited or canceled 19,000 18.11 Outstanding at July 1, 2018 792,500 $ 20.15 |
Note 7 - Employee Benefit Pla26
Note 7 - Employee Benefit Plans (Tables) | 6 Months Ended |
Jul. 01, 2018 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three Months Ended Six Months Ended Defined Benefit Retirement Plan (Europe) July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 (In thousands) (In thousands) Service cost $ 182 $ 397 $ 369 $ 780 Interest cost 1,318 1,378 2,671 2,712 Expected return on assets (1,562 ) (1,628 ) (3,164 ) (3,216 ) Amortization of prior service costs 8 (9 ) 15 (16 ) Recognized net actuarial (gains) / losses 281 320 569 629 Net periodic benefit cost $ 227 $ 458 $ 460 $ 889 Three Months Ended Six Months Ended Salary Continuation Plan (SCP) July 1 , 201 8 July 2 , 201 7 July 1 , 201 8 July 2 , 201 7 (In thousands) (In thousands) Service cost $ 0 $ 0 $ 0 $ 0 Interest cost 271 314 541 628 Amortization of prior service cost 0 0 0 0 Amortization of (gain) / loss 116 91 232 182 Net periodic benefit cost $ 387 $ 405 $ 773 $ 810 |
Note 9 - Segment Information (T
Note 9 - Segment Information (Tables) | 6 Months Ended |
Jul. 01, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | AMERICAS EUROPE ASIA- PACIFIC TOTAL (in thousands) Three Months Ended July 1, 2018: Net Sales $ 176,380 $ 65,865 $ 41,381 $ 283,626 Depreciation and amortization 3,480 2,048 2,212 7,740 Total assets 314,436 258,138 193,073 765,647 Three Months Ended July 2 , 201 7 Net Sales $ 153,616 $ 57,811 $ 40,273 $ 251,700 Depreciation and amortization 3,310 1,314 2,090 6,714 Six Months Ended July 1 , 201 8 Net Sales $ 311,605 $ 132,421 $ 80,163 $ 524,189 Depreciation and amortization 7,091 4,302 4,420 15,813 Six Months Ended July 2 , 201 7 Net Sales $ 285,378 $ 113,830 $ 73,594 $ 472,802 Depreciation and amortization 6,678 2,611 4,247 13,536 |
Reconciliation of Depreciation, Amortization, and Assets from Segments to Consolidated [Table Text Block] | Three Months Ended DEPRECIATION AND AMORTIZATION July 1 , 201 8 July 2 , 201 7 (In thousands) Total segment depreciation and amortization $ 7,740 $ 6,714 Corporate depreciation and amortization 719 739 Reported depreciation and amortization $ 8,459 $ 7,453 Six Months Ended DEPRECIATION AND AMORTIZATION July 1 , 201 8 July 2 , 201 7 (In thousands) Total segment depreciation and amortization $ 15,813 $ 13,536 Corporate depreciation and amortization 1,377 886 Reported depreciation and amortization $ 17,190 $ 14,422 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | ASSETS July 1 , 201 8 (In thousands) Total segment assets $ 765,647 Corporate assets and eliminations 58,980 Reported total assets $ 824,627 |
Note 15 - Restructuring and A28
Note 15 - Restructuring and Asset Impairment Charges (Tables) | 6 Months Ended |
Jul. 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 July 1, 2018 (in thousands) Workforce Reduction $ 10,652 $ 1,451 $ 6,633 $ 1,543 $ 1,025 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) | 6 Months Ended |
Jul. 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 | 97.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 5 days |
Percent of Revenue Due to Sales To Customers | 97.00% |
Installation of Carpet and Other Flooring Related Material [Member] | |
Percent of Revenue Due to Sales To Customers | 3.00% |
Note 2 - Revenue Recognition -
Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) | 6 Months Ended |
Jul. 01, 2018 | |
Americas [Member] | |
Percentage of net sales | 59.40% |
Europe [Member] | |
Percentage of net sales | 25.30% |
Asia Pacific [Member] | |
Percentage of net sales | 15.30% |
Note 3 - Inventories - Summary
Note 3 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands | Jul. 01, 2018 | Dec. 31, 2017 |
Finished Goods | $ 137,724 | $ 115,512 |
Work in Process | 11,617 | 13,022 |
Raw Materials | 49,786 | 49,401 |
$ 199,127 | $ 177,935 |
Note 4 - Earnings Per Share (De
Note 4 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 | 0 |
Note 4 - Earnings Per Share - D
Note 4 - Earnings Per Share - Distributed and Undistributed Earnings (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | |
Distributed Earnings (in dollars per share) | $ 0.07 | $ 0.06 | $ 0.13 | $ 0.12 |
Undistributed Earnings (in dollars per share) | 0.28 | 0.27 | 0.47 | 0.34 |
Total (in dollars per share) | 0.35 | 0.33 | 0.60 | 0.46 |
Distributed Earnings (in dollars per share) | 0.07 | 0.06 | 0.13 | 0.12 |
Undistributed Earnings (in dollars per share) | 0.28 | 0.27 | 0.47 | 0.34 |
Total (in dollars per share) | 0.35 | 0.33 | 0.60 | 0.46 |
Basic earnings per share (in dollars per share) | 0.35 | 0.33 | 0.60 | 0.46 |
Diluted earnings per share (in dollars per share) | $ 0.35 | $ 0.33 | $ 0.60 | $ 0.46 |
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 | 6 Months Ended | ||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | |
Net Income | $ 20,602 | $ 20,938 | $ 35,686 | $ 29,485 |
Shares for Basic Earnings Per Share (in shares) | 59,493 | 62,789 | 59,582 | 63,432 |
Dilutive Effect of Stock Options (in shares) | 45 | 43 | 45 | 42 |
Shares for Diluted Earnings Per Share (in shares) | 59,538 | 62,832 | 59,627 | 63,474 |
Participating Securities [Member] | ||||
Net Income | $ 200 | $ 200 | $ 300 | $ 300 |
Weighted Average Shares Outstanding (in shares) | 58,910 | 62,305 | 58,999 | 62,948 |
Participating Securities (in shares) | 583 | 484 | 583 | 484 |
Note 5 - Long-term Debt (Detail
Note 5 - Long-term Debt (Details Textual) $ in Thousands | 6 Months Ended |
Jul. 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 | 3,200 |
Syndicated Facility Agreement [Member] | |
Long-term Line of Credit, Total | 81,000 |
Letters of Credit Outstanding, Amount | $ 5,700 |
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 3.40% |
Syndicated Facility Agreement [Member] | Term Loan A [Member] | |
Long-term Debt, Total | $ 162,500 |
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 | $ 9,800 |
Other Line Of Credit [Member] | Minimum [Member] | |
Line of Credit Facility, Interest Rate During Period | 2.50% |
Other Line Of Credit [Member] | Maximum [Member] | |
Line of Credit Facility, Interest Rate During Period | 6.50% |
Note 6 - Stock-based Compensa36
Note 6 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jul. 01, 2018 | Jul. 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 | |
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 | $ 1,100 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 1,100 | |
Employee Stock Option [Member] | ||
Allocated Share-based Compensation Expense, Total | 0 | $ 0 |
Restricted Stock [Member] | ||
Allocated Share-based Compensation Expense, Total | $ 2,000 | $ 1,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 192,000 | 244,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 6,600 | |
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 | $ 3,600 | $ 500 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 261,000 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 7,700 | |
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 | $ 1,300 |
Note 6 - Stock-based Compensa37
Note 6 - Stock-based Compensation - Restricted Stock Outstanding (Details) - Restricted Stock [Member] - $ / shares | 6 Months Ended | |
Jul. 01, 2018 | Jul. 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 | 244,000 |
Granted (in dollars per share) | $ 25.60 | |
Vested (in shares) | 62,000 | |
Vested (in dollars per share) | $ 17.55 | |
Forfeited or canceled (in shares) | 10,000 | |
Forfeited or canceled (in dollars per share) | $ 18.09 | |
Outstanding at July 1, 2018 (in shares) | 583,000 | |
Outstanding at July 1, 2018 (in dollars per share) | $ 24.74 |
Note 6 - Stock-based Compensa38
Note 6 - Stock-based Compensation - Performance Shares Outstanding (Details) - Performance Shares [Member] | 6 Months Ended |
Jul. 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 | 261,000 |
Granted (in dollars per share) | $ / shares | $ 25.69 |
Vested (in shares) | shares | 119,000 |
Vested (in dollars per share) | $ / shares | $ 17.78 |
Forfeited or canceled (in shares) | shares | 19,000 |
Forfeited or canceled (in dollars per share) | $ / shares | $ 18.11 |
Outstanding at July 1, 2018 (in shares) | shares | 792,500 |
Outstanding at July 1, 2018 (in dollars per share) | $ / shares | $ 20.15 |
Note 7 - Employee Benefit Pla39
Note 7 - Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | |
Foreign Plan [Member] | ||||
Service cost | $ 182 | $ 397 | $ 369 | $ 780 |
Interest cost | 1,318 | 1,378 | 2,671 | 2,712 |
Expected return on assets | (1,562) | (1,628) | (3,164) | (3,216) |
Amortization of prior service costs | 8 | (9) | 15 | (16) |
Recognized net actuarial (gains) / losses | 281 | 320 | 569 | 629 |
Net periodic benefit cost | 227 | 458 | 460 | 889 |
UNITED STATES | Salary Continuation Plan [Member] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 271 | 314 | 541 | 628 |
Amortization of prior service costs | 0 | 0 | 0 | 0 |
Net periodic benefit cost | 387 | 405 | 773 | 810 |
Amortization of (gain) / loss | $ 116 | $ 91 | $ 232 | $ 182 |
Note 8 - Acquisition of Nora (D
Note 8 - Acquisition of Nora (Details Textual) - 3 months ended Jul. 01, 2018 - Nora [Member] € in Millions, $ in Millions | USD ($) | EUR (€) |
Business Combination, Acquisition Related Costs | $ 5.8 | |
Foreign Exchange Option [Member] | ||
Derivative, Notional Amount | $ 364 | € 315 |
Derivative, Term of Contract | 120 days | |
Foreign Exchange Contract [Member] | Other Current Assets [Member] | ||
Derivative, Fair Value, Net, Total | $ 1.9 | |
Selling, General and Administrative Expenses [Member] | ||
Business Combination, Acquisition Related Costs | 3 | |
Other Expense [Member] | Foreign Exchange Option [Member] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net, Total | $ 2.8 |
Note 9 - Segment Information (D
Note 9 - Segment Information (Details Textual) | 6 Months Ended |
Jul. 01, 2018 | |
Number of Operating Segments | 3 |
Number of Reportable Segments | 1 |
Note 9 - Segment Information -
Note 9 - Segment Information - Operating Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | Dec. 31, 2017 | |
NET SALES | $ 283,626 | $ 251,700 | $ 524,189 | $ 472,802 | |
Depreciation and amortization | 8,459 | 7,453 | 17,190 | 14,422 | |
Assets | 824,627 | 824,627 | $ 800,600 | ||
Operating Segments [Member] | |||||
NET SALES | 283,626 | 251,700 | 524,189 | 472,802 | |
Depreciation and amortization | 7,740 | 6,714 | 15,813 | 13,536 | |
Assets | 765,647 | 765,647 | |||
Americas [Member] | Operating Segments [Member] | |||||
NET SALES | 176,380 | 153,616 | 311,605 | 285,378 | |
Depreciation and amortization | 3,480 | 3,310 | 7,091 | 6,678 | |
Assets | 314,436 | 314,436 | |||
Europe [Member] | Operating Segments [Member] | |||||
NET SALES | 65,865 | 57,811 | 132,421 | 113,830 | |
Depreciation and amortization | 2,048 | 1,314 | 4,302 | 2,611 | |
Assets | 258,138 | 258,138 | |||
Asia Pacific [Member] | Operating Segments [Member] | |||||
NET SALES | 41,381 | 40,273 | 80,163 | 73,594 | |
Depreciation and amortization | 2,212 | $ 2,090 | 4,420 | $ 4,247 | |
Assets | $ 193,073 | $ 193,073 |
Note 9 - Segment Information 43
Note 9 - Segment Information - Operating Segments Depreciation, Amortization, and Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 01, 2018 | Jul. 02, 2017 | Jul. 01, 2018 | Jul. 02, 2017 | |
Depreciation and amortization | $ 8,459 | $ 7,453 | $ 17,190 | $ 14,422 |
Operating Segments [Member] | ||||
Depreciation and amortization | 7,740 | 6,714 | 15,813 | 13,536 |
Corporate, Non-Segment [Member] | ||||
Depreciation and amortization | $ 719 | $ 739 | $ 1,377 | $ 886 |
Note 9 - Segment Information 44
Note 9 - Segment Information - Reconciliation of Segment Assets (Details) - USD ($) $ in Thousands | Jul. 01, 2018 | Dec. 31, 2017 |
Assets | $ 824,627 | $ 800,600 |
Operating Segments [Member] | ||
Assets | 765,647 | |
Corporate, Non-Segment [Member] | ||
Assets | $ 58,980 |
Note 10 - Supplemental Cash F45
Note 10 - Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jul. 01, 2018 | Jul. 02, 2017 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 3.9 | $ 3.2 |
Income Taxes Paid | $ 14.9 | $ 11.5 |
Note 11 - Recently Issued Acc46
Note 11 - Recently Issued Accounting Pronouncements (Details Textual) $ in Millions | 6 Months Ended |
Jul. 01, 2018USD ($) | |
Relcassification From Selling, General and Administrative Expenses to Other Expenses [Member] | Quarters Ended April 2nd, 2017 and July 2nd, 2017 [Member] | |
Prior Period Reclassification Adjustment | $ 0.5 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jul. 01, 2018 | Jul. 02, 2017 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 27.00% | 33.00% |
Unrecognized Tax Benefits, Period Increase (Decrease), Total | $ (0.3) | |
Unrecognized Tax Benefits, Ending Balance | 28.9 | |
Increase (Decrease) in Deferred Tax Assets | $ (3.3) |
Note 13 - Items Reclassified 48
Note 13 - Items Reclassified From Other Comprehensive Income (Details Textual) $ in Millions | 6 Months Ended |
Jul. 01, 2018USD ($) | |
Other Expense [Member] | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax, Total | $ 0.8 |
Note 14 - Repurchase of Commo49
Note 14 - Repurchase of Common Stock (Details Textual) - Common Stock [Member] - USD ($) $ / shares in Units, $ in Billions | 6 Months Ended | |
Jul. 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 15 - Restructuring and A50
Note 15 - Restructuring and Asset Impairment Charges (Details Textual) $ in Thousands | 3 Months Ended | 30 Months Ended | |
Apr. 02, 2017USD ($) | Jan. 01, 2017USD ($) | Jul. 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 15 - Restructuring and A51
Note 15 - Restructuring and Asset Impairment Charges - Restructuring Activities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | 30 Months Ended | ||
Apr. 02, 2017 | Jan. 01, 2017 | Jul. 01, 2018 | Dec. 31, 2017 | Jan. 01, 2017 | Jul. 01, 2018 | |
Total restructuring charge | $ 7,300 | $ 19,800 | ||||
Employee Severance [Member] | ||||||
Total restructuring charge | 600 | $ 10,652 | ||||
Cost incurred | $ 1,543 | $ 6,633 | $ 1,451 | |||
Balance | 1,025 | 1,025 | ||||
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 |
Note 16 - Subequent Events (Det
Note 16 - Subequent Events (Details Textual) - Aug. 07, 2018 - Nora [Member] - Subsequent Event [Member] € in Millions, $ in Millions | USD ($) | EUR (€) |
Business Combination, Consideration Transferred, Total | $ 447 | € 385 |
Cash Acquired from Acquisition | 47 | 41 |
Payments to Acquire Businesses, Net of Cash Acquired, Total | $ 400 | € 344 |