Interface (TILE) 10-Q 10 Aug 18 2018 Q2 Quarterly report Financial data

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