Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |||
Jan. 03, 2015 | Dec. 28, 2013 | Mar. 20, 2015 | Mar. 21, 2014 | |
Document Information [Line Items] | ||||
Document Fiscal Year Focus | 2014 | |||
Entity Registrant Name | ASSOCIATED MATERIALS, LLC | |||
Entity Central Index Key | 802967 | |||
Current Fiscal Year End Date | -2 | |||
Entity Filer Category | Non-accelerated Filer | |||
Document Type | 10-K | |||
Document Period End Date | 3-Jan-15 | |||
Document Fiscal Period Focus | FY | |||
Amendment Flag | FALSE | |||
Membership interests description | The registrant’s membership interests outstanding were held by an affiliate of the Registrant | |||
Common Shares Outstanding | 0 | |||
Entity Well-known Seasoned Issuer | No | |||
Entity Voluntary Filers | No | |||
Entity Current Reporting Status | Yes | |||
Entity Public Float | $0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jan. 03, 2015 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $5,963 | $20,815 |
Accounts receivable, net | 125,121 | 125,263 |
Inventories | 145,532 | 133,469 |
Income taxes receivable | 144 | 792 |
Deferred income taxes | 2,439 | 4,685 |
Prepaid expenses and other current assets | 15,859 | 10,842 |
Total current assets | 295,058 | 295,866 |
Property, plant and equipment, net | 93,900 | 100,945 |
Goodwill | 317,257 | 471,791 |
Other intangible assets, net | 437,300 | 563,224 |
Other assets | 18,662 | 24,793 |
Total assets | 1,162,177 | 1,456,619 |
Current liabilities: | ||
Accounts payable | 94,768 | 96,974 |
Accrued liabilities | 81,734 | 78,182 |
Deferred income taxes | 1,292 | 2,441 |
Income taxes payable | 1,782 | 2,139 |
Total current liabilities | 179,576 | 179,736 |
Deferred income taxes | 88,330 | 126,204 |
Other liabilities | 129,016 | 117,659 |
Long-term debt | 903,404 | 835,230 |
Commitments and contingencies | ||
Member’s equity: | ||
Membership interest | 555,827 | 555,370 |
Accumulated other comprehensive income (loss) | -60,623 | -17,916 |
Accumulated deficit | -633,353 | -339,664 |
Total member’s equity | -138,149 | 197,790 |
Total liabilities and member’s equity | $1,162,177 | $1,456,619 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2011 | Sep. 27, 2014 | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Statement of Comprehensive Income [Abstract] | |||||
Net sales | $1,186,973 | $1,169,598 | $1,142,521 | ||
Cost of sales | 943,419 | 887,798 | 859,617 | ||
Gross profit | 243,554 | 281,800 | 282,904 | ||
Selling, general and administrative expenses | 247,283 | 232,281 | 240,027 | ||
Impairment of goodwill | 148,500 | 144,159 | 0 | 0 | |
Impairment of other intangible assets | 79,900 | 89,687 | 0 | 0 | |
Income (loss) from operations | -237,575 | 49,519 | 42,877 | ||
Interest expense, net | 82,527 | 79,751 | 75,520 | ||
Foreign currency loss (gain) | 788 | 754 | 119 | ||
Loss before income taxes | -320,890 | -30,986 | -32,762 | ||
Income tax expense (benefit) | -27,201 | 2,507 | 5,605 | ||
Net (loss) income | -293,689 | -33,493 | -38,367 | ||
Other comprehensive income (loss): | |||||
Pension and other postretirement benefit adjustments, net of tax | -20,268 | 19,774 | -9,446 | ||
Foreign currency translation adjustments, net of tax | -22,439 | -20,443 | 8,228 | ||
Total comprehensive loss | ($336,396) | ($34,162) | ($39,585) |
Consolidated_Statements_of_Mem
Consolidated Statements of Member's Equity/Stockholders' (Deficit) (USD $) | Total | Membership Interest [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated (Deficit)/Retained Earnings [Member] |
In Thousands | ||||
Balance at Dec. 31, 2011 | $270,464 | $554,297 | ($16,029) | ($267,804) |
Net loss | -38,367 | 0 | 0 | |
Other comprehensive loss | -1,218 | 0 | -1,218 | 0 |
Equity contribution from parent | 80 | 80 | 0 | 0 |
Stock-based compensation expense | 96 | 96 | 0 | 0 |
Balance at Dec. 29, 2012 | 231,055 | 554,473 | -17,247 | -306,171 |
Net loss | -33,493 | 0 | 0 | |
Other comprehensive loss | -669 | 0 | -669 | 0 |
Equity contribution from parent | 742 | 742 | 0 | 0 |
Stock-based compensation expense | 155 | 155 | 0 | 0 |
Balance at Dec. 28, 2013 | 197,790 | 555,370 | -17,916 | -339,664 |
Net loss | -293,689 | 0 | 0 | |
Other comprehensive loss | -42,707 | 0 | -42,707 | 0 |
Stock-based compensation expense | 457 | 457 | 0 | 0 |
Balance at Jan. 03, 2015 | ($138,149) | $555,827 | ($60,623) | ($633,353) |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
OPERATING ACTIVITIES | |||
Net loss | ($293,689) | ($33,493) | ($38,367) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 42,744 | 43,041 | 50,678 |
Deferred income taxes | -31,201 | -1,503 | -2,061 |
Impairment of goodwill and other intangible assets | 233,846 | 0 | 0 |
Provision for losses on accounts receivable | 2,138 | 1,122 | 2,420 |
Loss (gain) on sale or disposal of assets | -42 | 130 | -12 |
Amortization of deferred financing costs and premium | 3,719 | 4,451 | 4,479 |
Stock-based compensation expense and other non-cash charges | 457 | 161 | 96 |
Accounts receivable | -4,863 | -7,142 | -1,333 |
Inventories | -15,309 | -17,696 | -1,647 |
Prepaid expenses | -5,184 | -2,307 | 2,953 |
Accounts payable | 731 | 24,262 | -6,407 |
Accrued liabilities | 4,406 | 3,529 | 2,666 |
Income taxes receivable/payable | 555 | -1,716 | -4,158 |
Other assets | 1,025 | -2,185 | -1,755 |
Other liabilities | -10,298 | -10,401 | -8,141 |
Net cash provided by (used in) operating activities | -70,965 | 253 | -589 |
INVESTING ACTIVITIES | |||
Capital expenditures | -12,852 | -11,702 | -5,371 |
Proceeds from the sale of assets | 19 | 60 | 94 |
Supply center acquisition | 0 | -348 | 0 |
Net Cash Provided by (Used in) Investing Activities | -12,833 | -11,990 | -5,277 |
FINANCING ACTIVITIES | |||
Borrowings under ABL facilities | 240,222 | 148,861 | 208,471 |
Payments under ABL facilities | -170,810 | -226,861 | -204,171 |
Equity contribution from parent | 0 | 742 | 80 |
Issuance of senior notes | 0 | 106,000 | 0 |
Financing costs | 0 | -5,549 | -225 |
Net cash provided by financing activities | 69,412 | 23,193 | 4,155 |
Effect of exchange rate changes on cash and cash equivalents | -466 | -235 | -69 |
Increase (decrease) in cash and cash equivalents | -14,852 | 11,221 | -1,780 |
Cash and cash equivalents at beginning of the period | 20,815 | 9,594 | 11,374 |
Cash and cash equivalents at end of the period | 5,963 | 20,815 | 9,594 |
Supplemental Information: | |||
Cash paid for interest | 78,322 | 74,043 | 71,122 |
Cash paid for income taxes | $4,224 | $4,685 | $11,920 |
Accounting_Policies
Accounting Policies | 12 Months Ended |
Jan. 03, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | ACCOUNTING POLICIES |
NATURE OF OPERATIONS | |
Associated Materials, LLC (the “Company”) was founded in 1947 when it first introduced residential aluminum siding under the Alside® name and is a leading, vertically integrated manufacturer and distributor of exterior residential building products in the United States (“U.S.”) and Canada. The Company provides a comprehensive offering of exterior building products, including vinyl windows, vinyl siding, vinyl railing and fencing, aluminum trim coil, aluminum and steel siding and related accessories, which are produced at the Company’s 11 manufacturing facilities. The Company also sells complementary products that it sources from a network of manufacturers, such as roofing materials, cladding materials, insulation, exterior doors, equipment and tools. The Company also provides installation services. The Company distributes these products through its extensive dual-distribution network to over 50,000 professional exterior contractors, builders and dealers, whom the Company refers to as its “contractor customers.” This dual-distribution network consists of 126 company-operated supply centers, through which the Company sells directly to its contractor customers, and its direct sales channel, through which the Company sells to more than 275 independent distributors, dealers and national account customers. | |
BASIS OF PRESENTATION | |
On October 13, 2010, AMH Holdings II, Inc. (“AMH II”), the then indirect parent company of the Company, completed its merger (the “Acquisition Merger”) with Carey Acquisition Corp. (“Merger Sub”), pursuant to the terms of the Agreement and Plan of Merger, dated as of September 8, 2010 (“Merger Agreement”), among Carey Investment Holdings Corp. (now known as Associated Materials Group, Inc.) (“Parent”), Carey Intermediate Holdings Corp. (now known as Associated Materials Incorporated), a 100% owned direct subsidiary of Parent (“Holdings”), Merger Sub, a wholly-owned direct subsidiary of Holdings, and AMH II, with AMH II surviving such merger as a wholly-owned direct subsidiary of Holdings. After a series of additional mergers (together with the Acquisition Merger, the “Merger”), AMH II merged with and into the Company, with the Company surviving such merger as a wholly-owned direct subsidiary of Holdings. As a result of the Merger, the Company is now an indirect wholly-owned subsidiary of Parent. Holdings and Parent do not have material assets or operations other than their direct and indirect ownership, respectively, of the membership interest of the Company. Approximately 97% of the capital stock of Parent is owned by investment funds affiliated with Hellman & Friedman LLC (such investment funds, the “H&F Investors”). | |
The Company operates on a 52/53 week fiscal year that ends on the Saturday closest to December 31st. The Company’s 2014 fiscal year that ended January 3, 2015 included 53 weeks of operations, with the additional week recorded in the fourth quarter of fiscal 2014. The Company’s 2013 and 2012 fiscal years ended on December 28, 2013 and December 29, 2012, respectively, and included 52 weeks of operations. | |
PRINCIPLES OF CONSOLIDATION | |
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances are eliminated in consolidation. | |
USE OF ESTIMATES | |
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. On an ongoing basis, the Company evaluates its estimates, including those related to recoverability of intangibles and other long-lived assets, customer programs and incentives, allowance for doubtful accounts, inventories, warranties, valuation allowances for deferred tax assets, pensions and postretirement benefits and various other allowances and accruals. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. | |
REVENUE RECOGNITION | |
The Company primarily sells and distributes its products through two channels: direct sales from its manufacturing facilities to independent distributors and dealers and sales to contractors through its company-operated supply centers. Direct sales revenue is recognized when the Company’s manufacturing facility ships the product and title and risk of loss passes to the customer or when services have been rendered. Sales to contractors are recognized either when the contractor receives product directly from the supply center or when the supply center delivers the product to the contractor’s job site. For both direct sales to independent distributors and dealers and sales generated from the Company’s supply centers, revenue is not recognized until collectability is reasonably assured. A substantial portion of the Company’s sales is in the repair and remodel segment of the exterior residential building products industry. Therefore, vinyl windows are manufactured to specific measurement requirements received from the Company’s customers. Sales to one customer and its licensees represented approximately 14% of net sales in 2014 and approximately 13% of total net sales in each of 2013 and 2012. | |
Revenues are recorded net of estimated returns, customer incentive programs and other incentive offerings including special pricing agreements, promotions and other volume-based incentives. Revisions to these estimates are charged to income in the period in which the facts that give rise to the revision become known. For contracts involving installation, revenue recognition is dependent on the type of contract under which the Company is performing. For single-family residential contracts, revenue is recognized when the installation is complete. For multi-family residential or commercial contracts, revenue is recognized based on percentage of completion. The Company collects sales, use, and value-added taxes that are imposed by governmental authorities on and concurrent with sales to the Company’s customers. Revenues are presented net of these taxes as the obligation is included in accrued liabilities until the taxes are remitted to the appropriate taxing authorities. | |
The Company offers certain sales incentives to customers who become eligible based on the volume of purchases made during the calendar year. The sales incentive programs are considered customer volume rebates, which are typically computed as a percentage of customer sales, and in certain instances the rebate percentage may increase as customers achieve sales hurdles. Volume rebates are accrued throughout the year based on management estimates of customers’ annual sales volumes and the expected annual rebate percentage achieved. For these programs, the Company does not receive an identifiable benefit in exchange for the consideration, and therefore, the Company characterizes the volume rebate to the customer as a reduction of revenue in the Company’s Consolidated Statements of Comprehensive Loss. | |
CASH AND CASH EQUIVALENTS | |
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |
ACCOUNTS RECEIVABLE | |
The Company records accounts receivable at selling prices which are fixed based on purchase orders or contractual arrangements. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The allowance for doubtful accounts is based on a review of the overall condition of accounts receivable balances and a review of significant past due accounts. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. Account balances are charged off against the allowance for doubtful accounts after all means of collection have been exhausted and the recoverability is considered remote. Accounts receivable that are not expected to be collected within one year are reclassified as long-term accounts receivable. Long-term accounts receivable balances, net of the related allowance for doubtful accounts are included in other assets in the Consolidated Balance Sheets. See Note 3 for further information. | |
INVENTORIES | |
Inventories are valued at the lower of cost (first-in, first-out) or market. The Company writes down its inventory for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future demand and market conditions. Fixed manufacturing overhead is allocated based on normal production capacity and abnormal manufacturing costs are recognized as period costs. See Note 4 for further information. | |
PROPERTY, PLANT AND EQUIPMENT | |
Additions to property, plant and equipment are stated at cost. The cost of maintenance and repairs to property, plant and equipment is charged to operations in the period incurred. Depreciation is computed by the straight-line method over the estimated useful lives of the assets. The estimated useful lives are approximately 20 to 30 years for buildings and improvements and 3 to 15 years for machinery and equipment. Leasehold improvements are amortized over the lesser of the lease term or the estimated life of the leasehold improvement. | |
Property, plant and equipment are reviewed for impairment in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 360, Property, Plant, and Equipment. The Company also reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to undiscounted future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. In the event that assets are held for sale, depreciation is discontinued and such assets are reported at the lower of the carrying amount or fair value, less costs to sell. See Note 5 for further information. | |
GOODWILL AND OTHER INTANGIBLE ASSETS WITH INDEFINITE LIVES | |
In accordance with FASB ASC Topic 350, Intangibles — Goodwill and Other, the Company evaluates the carrying value of its goodwill and other indefinite-lived intangible assets for potential impairment on an annual basis or an interim basis if there are indicators of potential impairment. As the consolidated entity represents the only component that constitutes a business for which discrete financial information is reviewed by the Company’s chief operating decision maker for the purpose of making decisions about resources to be allocated and assessing performance, the Company concludes that it has one reporting unit, which is the same as its single operating segment, and the Company performs its goodwill impairment assessment for the Company as a whole. The impairment test is conducted using an income approach. As the Company does not have a market for its equity, management performs the annual impairment analysis utilizing a discounted cash flow approach incorporating current estimates regarding performance and macroeconomic factors discounted at a weighted average cost of capital. The Company conducts its impairment test of its goodwill and other indefinite-lived intangible assets annually, at the beginning of the fourth quarter of each year, or as indicators of potential impairment arise. The resulting fair value measures used in such impairment tests incorporate significant unobservable inputs, and as such, are considered Level 3 fair value measurements. See Note 6 for further information. | |
PRODUCT WARRANTY COSTS | |
Consistent with industry practice, the Company provides to homeowners limited warranties on certain products, primarily related to window and siding product categories. Warranties are of varying lengths of time from the date of purchase up to and including lifetime. Warranties cover product failures such as seal failures for windows and fading and peeling for siding products, as well as manufacturing defects. The Company has various options for remedying product warranty claims including repair, refinishing or replacement of the defective product, the cost of which is directly absorbed by the Company. Warranties also become reduced under certain conditions of time and/or change in home ownership. Certain metal coating suppliers provide warranties on materials sold to the Company that mitigate the costs incurred by the Company. Reserves for future warranty costs are provided based on management’s estimates utilizing an actuarial calculation performed by an independent valuation firm that projects future remedy costs using historical data trends of claims incurred, claim payments, sales history of products to which such costs relate and other factors. See Note 9 for further information. | |
INCOME TAXES | |
The Company accounts for income taxes in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”). Income tax expense includes both current and deferred taxes. Deferred tax assets and liabilities may be recognized for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. ASC 740 requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Company reviews the recoverability of any tax assets recorded on the balance sheet and provides any necessary allowances as required. When an uncertain tax position meets the more-likely-than-not recognition threshold, the position is measured to determine the amount of expense and benefit to be recognized in the financial statements. No tax benefit is recognized in the financial statements for tax positions that do not meet the more-likely-than-not threshold. The Company recognizes interest and penalties related to income taxes and uncertain tax positions within income tax expense. The effect of a change to the deferred tax assets or liabilities as a result of new tax law, including tax rate changes, is recognized in the period that the tax law is enacted. See Note 12 for further information. | |
DERIVATIVES AND HEDGING ACTIVITIES | |
In accordance with FASB ASC Topic 815, Derivatives and Hedging, all of the Company’s derivative instruments are recognized on the balance sheet at their fair value. The Company uses techniques designed to mitigate the short-term effect of exchange rate fluctuations of the Canadian dollar on its operations by entering into foreign exchange forward contracts. The Company does not speculate in foreign currencies or derivative financial instruments. Gains or losses on foreign exchange forward contracts are recorded within foreign currency (gain) loss in the accompanying Consolidated Statements of Comprehensive Loss. At January 3, 2015, the Company was a party to foreign exchange forward contracts for Canadian dollars, the value of which was $0.1 million at such date. | |
STOCK PLANS | |
The Company accounts for equity-based payments to employees and directors, including grants of restricted stock and restricted stock unit awards, in accordance with FASB ASC Topic 718, Compensation — Stock Compensation (“ASC 718”), which requires that equity-based payments (to the extent they are compensatory) be measured and recognized in the Company’s Consolidated Statements of Comprehensive Loss using a fair value method. See Note 14 for further information. | |
PENSIONS | |
Pension costs are developed from actuarial valuations. Inherent in these valuations are key assumptions including discount rates and expected return on plan assets. In selecting these assumptions, management considers current market conditions, including changes in interest rates and market returns on plan assets. Changes in the related pension benefit costs may occur in the future due to changes in assumptions. See Note 15 for further information. | |
LEASE OBLIGATIONS | |
Lease expense for operating leases that have escalating rentals over the term of the lease is recorded on a straight-line basis over the life of the lease, which commences on the date the Company has the right to control the property. The cumulative expense recognized on a straight-line basis in excess of the cumulative payments is included in accrued liabilities and other liabilities in the Consolidated Balance Sheets. Capital improvements that may be required to make a building suitable for the Company’s use are incurred by the landlords and are made prior to the Company having control of the property (lease commencement date) and are therefore incorporated into the determination of the lease rental rate. See Note 16 for further information. | |
In connection with the Merger and the application of purchase accounting, the Company evaluated its operating leases and recorded adjustments to reflect the fair market values of its operating leases. As a result, a favorable lease asset of $0.8 million and an unfavorable lease liability of $5.0 million were recorded based on the then current market analysis. The favorable lease asset and unfavorable lease liability are being amortized over the related remaining lease terms and are reported within cost of sales and selling, general and administrative expenses (“SG&A”) in the Consolidated Statements of Comprehensive Loss beginning October 13, 2010. The unamortized balances as of January 3, 2015 for the lease asset and lease liability were $0.1 million and $2.4 million, respectively. | |
LITIGATION EXPENSES | |
The Company is involved in certain legal proceedings. The Company recognizes litigation related expenses in the period in which the litigation services are provided. See Note 17 for further information. | |
COST OF SALES AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | |
For products manufactured by the Company, cost of sales includes the cost of purchasing raw materials, net of vendor rebates, payroll and benefit costs for direct and indirect labor incurred at the Company’s manufacturing locations including purchasing, receiving and inspection, inbound freight charges, freight charges to deliver product to the Company’s supply centers, and freight charges to deliver product to the Company’s independent distributor and dealer customers. It also includes all variable and fixed costs incurred to operate and maintain the manufacturing locations and machinery and equipment, such as lease costs, repairs and maintenance, utilities and depreciation. For third-party manufactured products, which are sold through the Company’s supply centers, cost of sales includes the cost to purchase product, net of vendor rebates, as well as inbound freight charges. | |
SG&A expenses include payroll and benefit costs including incentives and commissions of its supply center employees, corporate employees and sales representatives, building lease costs of its supply centers, delivery vehicle costs and other delivery charges incurred to deliver product from its supply centers to its contractor customers, sales vehicle costs, marketing costs, customer sales rewards, other administrative expenses such as supplies, legal, accounting, consulting, travel and entertainment as well as all other costs to operate its supply centers and corporate office. The customer sales rewards programs offer customers the ability to earn points based on purchases, which can be redeemed for products or services procured through independent third-party suppliers. The costs of the rewards programs are accrued as earned throughout the year based on estimated payouts under the program. Total customer rewards costs reported as a component of SG&A expense totaled $3.9 million, $3.8 million and $4.5 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. Shipping and handling costs included in SG&A expense totaled $31.6 million, $30.8 million and $31.9 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. | |
Research and development activities are principally related to new product development and are reported within cost of sales and SG&A expenses in the Consolidated Statements of Comprehensive Loss. For the year ended December 28, 2013, the Company incurred expenses of $4.0 million for research and development activities related to the new window platform that was launched in January 2014. Costs related to research and development were immaterial for the years ended January 3, 2015 and December 29, 2012. | |
MARKETING AND ADVERTISING | |
Marketing and advertising costs are generally expensed as incurred. Marketing and advertising expense was $11.6 million, $8.8 million and $11.0 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. | |
FOREIGN CURRENCY TRANSLATION | |
The financial position and results of operations of the Company’s Canadian subsidiary are measured using Canadian dollars as the functional currency. Assets and liabilities of the subsidiary are translated into U.S. dollars at the exchange rate in effect at each reporting period end. Income statement and cash flow amounts are translated into U.S. dollars at the average exchange rates prevailing during the year. Translation adjustments arising from the use of different exchange rates from period to period are reflected as a component of member’s (deficit) equity within accumulated other comprehensive income (loss). Gains and losses arising from transactions denominated in a currency other than Canadian dollars occurring in the Company’s Canadian subsidiary are included in foreign currency gain (loss) in the Company’s Consolidated Statements of Comprehensive Loss. | |
RECENT ACCOUNTING PRONOUNCEMENTS | |
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued and to provide certain disclosures if it concludes that substantial doubt exists. ASU 2014-15 is effective for all entities for the annual period ending after December 15, 2016, and for annual and interim periods thereafter, with early adoption permitted. The Company does not believe that the adoption of the provisions of ASU 2014-15 will have a material impact on its consolidated financial position, results of operations or cash flows. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The comprehensive new revenue recognition standard supersedes all existing revenue guidance under GAAP and international financial reporting standards. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard establishes the following five steps that require companies to exercise judgment when considering the terms of any contract, including all relevant facts and circumstances: | |
Step 1: Identify the contract(s) with the customer, | |
Step 2: Identify the separate performance obligations in the contract, | |
Step 3: Determine the transaction price, | |
Step 4: Allocate the transaction price to the separate performance obligations, and | |
Step 5: Recognize revenue when each performance obligation is satisfied. | |
The new standard also requires significantly more interim and annual disclosures. The new standard allows for either full retrospective or modified retrospective adoption. ASU 2014-09 is effective for fiscal years and interim periods within those years, beginning after December 15, 2016. The Company is currently assessing the potential impact of the new requirements under the standard. |
Related_Parties_Related_Partie
Related Parties Related Parties | 12 Months Ended |
Jan. 03, 2015 | |
Related Parties [Abstract] | |
Related Party Transactions Disclosure [Text Block] | RELATED PARTIES |
HUB International | |
During the year ended January 3, 2015, the Company paid HUB International Midwest Limited, a portfolio company of H&F Investors, $0.1 million in connection with consulting services related to the placement and/or servicing of certain portions of the Company’s insurance coverage, which is included in SG&A. | |
Relocation Arrangements with Certain Executive Officers | |
During the year ended December 28, 2013, pursuant to the employment and relocation agreements with Jerry W. Burris, the Company’s former Chief Executive Officer and President, and Paul Morrisroe, the Company’s former Chief Financial Officer, the Company paid Mr. Burris and Mr. Morrisroe make-whole payments of $0.8 million and $0.1 million, respectively, to compensate each executive for the loss recognized on the sale of their respective residences. | |
AlixPartners | |
During the year ended December 29, 2012, the Company paid AlixPartners, LLP (“AlixPartners”), a former portfolio company of H&F Investors, $0.5 million in connection with operational improvement projects, including projects related to purchasing, manufacturing, inventory and logistics, which is included in SG&A. There were no such payments made to AlixPartners during the years ended January 3, 2015 or December 28, 2013. |
Allowance_for_Doubtful_Account
Allowance for Doubtful Accounts | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Allowance for Doubtful Accounts [Abstract] | ||||||||||||
Allowance for Doubtful Accounts [Text Block] | ALLOWANCE FOR DOUBTFUL ACCOUNTS | |||||||||||
Changes in the allowance for doubtful accounts on accounts receivable are as follows (in thousands): | ||||||||||||
January 3, | December 28, | December 29, | ||||||||||
2015 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 8,692 | $ | 9,171 | $ | 7,823 | ||||||
Provision for losses | 2,138 | 1,122 | 2,420 | |||||||||
Losses sustained (net of recoveries) | (2,739 | ) | (1,601 | ) | (1,072 | ) | ||||||
Balance at end of period | $ | 8,091 | $ | 8,692 | $ | 9,171 | ||||||
Allowance for doubtful accounts on accounts receivable consists of (in thousands): | ||||||||||||
January 3, | December 28, | |||||||||||
2015 | 2013 | |||||||||||
Allowance for doubtful accounts, current | $ | 3,542 | $ | 3,198 | ||||||||
Allowance for doubtful accounts, non-current | 4,549 | 5,494 | ||||||||||
$ | 8,091 | $ | 8,692 | |||||||||
Inventories
Inventories | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Inventory Disclosure [Abstract] | ||||||||
Inventory Disclosure [Text Block] | INVENTORIES | |||||||
Inventories consist of (in thousands): | ||||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Raw materials | $ | 29,300 | $ | 32,129 | ||||
Work in process | 16,442 | 9,356 | ||||||
Finished goods | 99,790 | 91,984 | ||||||
$ | 145,532 | $ | 133,469 | |||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | PROPERTY, PLANT AND EQUIPMENT | |||||||
Property, plant and equipment consist of (in thousands): | ||||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Land | $ | 13,461 | $ | 14,487 | ||||
Buildings | 39,674 | 40,090 | ||||||
Machinery and equipment | 120,945 | 107,983 | ||||||
Construction in progress | 3,934 | 7,725 | ||||||
178,014 | 170,285 | |||||||
Less accumulated depreciation | 84,114 | 69,340 | ||||||
$ | 93,900 | $ | 100,945 | |||||
Depreciation expense was $17.1 million, $17.0 million and $23.2 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. | ||||||||
During 2014, the Company acquired assets totaling $0.7 million that remain unpaid as of January 3, 2015. During 2013, the Company acquired assets totaling $0.6 million that remain unpaid as of December 28, 2013. Consequently, these amounts are reflected as non-cash investing activities on the Consolidated Statements of Cash Flows. Construction in progress as of January 3, 2015 and December 28, 2013 consists primarily of the Company’s investment in the new window platform, which was launched on the East Coast in early 2014 and continues to be rolled out on the West Coast. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||||||
Jan. 03, 2015 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||||||||
In accordance with FASB ASC 350, the Company is required to evaluate the carrying value of its goodwill for potential impairment on an annual basis at the beginning of the fourth quarter, or an interim basis if there are indicators of potential impairment. The impairment test is conducted using an income approach. As there is currently no market for the Company’s equity, management performs the impairment analysis utilizing a discounted cash flow approach that incorporates current estimates regarding performance and macroeconomic factors, discounted at a weighted average cost of capital. | ||||||||||||||||||||||||
During the first half of 2014, the Company experienced a decline in operating results primarily due to unfavorable weather conditions, weaker growth in the repair and remodeling market and incremental costs associated with the launch of its new window platform. Management initially believed that the impact of some of these conditions could be quickly remedied. However, since lower-than-expected operating results continued throughout the third quarter, the Company determined that an indicator of potential impairment existed and it is more-likely-than not that its indefinite-lived intangible assets were impaired. It therefore, performed interim impairment testing as of August 31, 2014. | ||||||||||||||||||||||||
The Company completed step one of its goodwill impairment testing with the assistance of an independent valuation firm and determined that the fair value of its single reporting unit was lower than its carrying value. This required the Company to proceed to step two of its impairment analysis. Based on preliminary calculations, the Company recorded an estimated goodwill impairment loss of $148.5 million during the quarter ended September 27, 2014. During the fourth quarter, the Company finalized step two of the impairment analysis and reduced the impairment charge by $4.3 million, for a final impairment charge of $144.2 million. The goodwill impairment charge is a non-cash item and does not affect the calculation of the borrowing base or financial covenants in the Company’s credit agreement. There is no tax benefit associated with this non-cash charge. | ||||||||||||||||||||||||
In addition to the interim impairment testing of goodwill, the Company conducted its annual impairment testing as of beginning of the fourth quarter of 2014. No impairment charges were recorded as the fair value of its reporting unit was higher than its carrying value. During each of 2013 and 2012, the Company completed the annual impairment test of goodwill and based on the results of the testing, no impairment charges were recorded. | ||||||||||||||||||||||||
The changes in the carrying amount of goodwill are as follows (in thousands): | ||||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||
Balance at December 29, 2012 | $ | 482,613 | ||||||||||||||||||||||
Foreign currency translation | (10,822 | ) | ||||||||||||||||||||||
Balance at December 28, 2013 | 471,791 | |||||||||||||||||||||||
Impairment | (144,159 | ) | ||||||||||||||||||||||
Foreign currency translation | (10,375 | ) | ||||||||||||||||||||||
Balance at January 3, 2015 | $ | 317,257 | ||||||||||||||||||||||
At January 3, 2015 and December 28, 2013 accumulated goodwill impairment losses were $228.5 million and $84.3 million, respectively, exclusive of foreign currency translation. | ||||||||||||||||||||||||
The Company’s other intangible assets consist of the following (in thousands): | ||||||||||||||||||||||||
January 3, 2015 | December 28, 2013 | |||||||||||||||||||||||
Cost | Accumulated | Net | Cost | Accumulated | Net | |||||||||||||||||||
Amortization | Carrying | Amortization | Carrying | |||||||||||||||||||||
Value | Value | |||||||||||||||||||||||
Amortized customer bases | $ | 321,836 | $ | 106,655 | $ | 215,181 | $ | 327,280 | $ | 82,874 | $ | 244,406 | ||||||||||||
Amortized non-compete agreements | 20 | 16 | 4 | 20 | 11 | 9 | ||||||||||||||||||
Total amortized intangible assets | 321,856 | 106,671 | 215,185 | 327,300 | 82,885 | 244,415 | ||||||||||||||||||
Non-amortized trade names (1) | 222,115 | — | 222,115 | 318,809 | — | 318,809 | ||||||||||||||||||
Total intangible assets | $ | 543,971 | $ | 106,671 | $ | 437,300 | $ | 646,109 | $ | 82,885 | $ | 563,224 | ||||||||||||
-1 | Balances at January 3, 2015 and December 28, 2013 include impairment charges of $89.7 million recorded in 2014 and $79.9 million recorded in 2011, respectively. | |||||||||||||||||||||||
The Company’s non-amortized intangible assets consist of the Alside®, Revere®, Gentek®, Preservation® and Alpine® trade names and are tested for impairment on an annual basis at the beginning of the fourth quarter, or an interim basis if there are indicators of potential impairment. During 2014, as noted above, management determined that an indicator of potential impairment existed for the non-amortized trade names as of August 31, 2014 and completed an interim test of the fair value with the assistance of an independent valuation firm. Using the income approach, the Company determined that the fair value of certain non-amortized trade names was lower than the carrying value, and consequently, the Company recorded an impairment charge of $89.7 million during the quarter ended September 27, 2014. During each of 2014, 2013 and 2012, the Company completed the annual impairment test of intangible assets with indefinite lives and based on the results of the testing, no impairment charges were recorded. | ||||||||||||||||||||||||
Finite lived intangible assets, which consist of customer bases and non-compete agreements, are amortized on a straight-line basis over their estimated useful lives. The estimated average amortization period for customer bases and non-compete agreements is 13 years and 3 years, respectively. Amortization expense related to other intangible assets was $25.7 million, $26.0 million and $26.2 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. Amortization expense is estimated to be approximately $25 million per year for fiscal years 2015, 2016, 2017, 2018 and 2019. |
Accrued_and_Other_Liabilities
Accrued and Other Liabilities | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Accrued Liabilities and Other Liabilities [Abstract] | ||||||||
Other Liabilities Disclosure [Text Block] | ACCRUED AND OTHER LIABILITIES | |||||||
Accrued liabilities consist of (in thousands): | ||||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Employee compensation | $ | 11,355 | $ | 14,621 | ||||
Sales promotions and incentives | 25,786 | 20,954 | ||||||
Warranty reserves | 9,312 | 9,371 | ||||||
Employee benefits | 8,828 | 7,273 | ||||||
Interest | 13,393 | 12,905 | ||||||
Taxes other than income taxes | 3,220 | 2,994 | ||||||
Other | 9,840 | 10,064 | ||||||
$ | 81,734 | $ | 78,182 | |||||
Other liabilities consist of (in thousands): | ||||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Pensions and other postretirement plans | $ | 40,138 | $ | 25,998 | ||||
Warranty reserves | 80,628 | 83,836 | ||||||
Other | 8,250 | 7,825 | ||||||
$ | 129,016 | $ | 117,659 | |||||
Manufacturing_Restructuring_Co
Manufacturing Restructuring Costs | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Restructuring and Related Activities [Abstract] | ||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | MANUFACTURING RESTRUCTURING COSTS | |||||||||||
The Company discontinued its use of the warehouse facility adjacent to the Ennis manufacturing plant during the second quarter of 2009 and recorded a restructuring liability related to lease costs associated with the discontinued use of the warehouse facility. During 2014, the Company re-measured its restructuring liability due to changes in the expected amount and timing of cash flows related to taxes and insurance over the remaining lease term. As a result, the Company decreased the restructuring liability and recognized a benefit of $0.3 million within SG&A expenses reported in the Consolidated Statements of Comprehensive Loss for the year ended January 3, 2015. | ||||||||||||
Changes in the manufacturing restructuring liability are as follows (in thousands): | ||||||||||||
January 3, | December 28, 2013 | December 29, 2012 | ||||||||||
2015 | ||||||||||||
Balance at beginning of period | $ | 2,772 | $ | 3,387 | $ | 4,086 | ||||||
Decrease | (331 | ) | — | — | ||||||||
Accretion of related lease obligations | 495 | 516 | 545 | |||||||||
Payments | (976 | ) | (1,131 | ) | (1,244 | ) | ||||||
Balance at end of period | $ | 1,960 | $ | 2,772 | $ | 3,387 | ||||||
The remaining restructuring liability was included in “Accrued liabilities” and “Other liabilities” in the Consolidated Balance Sheets and will continue to be paid over the lease term, which ends April 2020. |
Product_Warranty_Costs
Product Warranty Costs | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Product Warranties Disclosures [Abstract] | ||||||||||||
Product Warranty Disclosure [Text Block] | PRODUCT WARRANTY COSTS | |||||||||||
Consistent with industry practice, the Company provides homeowners with limited warranties on certain products, primarily related to its window and siding product categories. | ||||||||||||
Changes in the warranty reserve are as follows (in thousands): | ||||||||||||
January 3, | December 28, | December 29, | ||||||||||
2015 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 93,207 | $ | 97,471 | $ | 101,163 | ||||||
Provision for warranties issued and changes in estimates for pre-existing warranties | 4,658 | 4,040 | 4,098 | |||||||||
Claims paid | (6,816 | ) | (7,383 | ) | (8,133 | ) | ||||||
Foreign currency translation | (1,109 | ) | (921 | ) | 343 | |||||||
Balance at end of period | $ | 89,940 | $ | 93,207 | $ | 97,471 | ||||||
As a result of the Merger and the application of purchase accounting, the Company adjusted its warranty reserves to represent an estimate of the fair value of the liability as of the closing date of the Merger, which was based on an actuarial calculation performed by an independent valuation firm that projected future remedy costs using historical data trends of claims incurred, claims payments and sales history of products to which such costs relate. The excess of the estimated fair value over the expected future remedy costs of $9.5 million, which was included in the Company’s warranty reserve at the date of the Merger, is being amortized as a reduction of warranty expense over the expected term such warranty claims will be satisfied. The remaining unamortized amount at January 3, 2015 was $6.3 million. The provision for warranties was reported within “Cost of sales” in the Consolidated Statements of Comprehensive Loss. | ||||||||||||
Schedule of Product Warranty Liability [Table Text Block] | Changes in the warranty reserve are as follows (in thousands): | |||||||||||
January 3, | December 28, | December 29, | ||||||||||
2015 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 93,207 | $ | 97,471 | $ | 101,163 | ||||||
Provision for warranties issued and changes in estimates for pre-existing warranties | 4,658 | 4,040 | 4,098 | |||||||||
Claims paid | (6,816 | ) | (7,383 | ) | (8,133 | ) | ||||||
Foreign currency translation | (1,109 | ) | (921 | ) | 343 | |||||||
Balance at end of period | $ | 89,940 | $ | 93,207 | $ | 97,471 | ||||||
Executive_Officers_Separation_
Executive Officers' Separation and Hiring Costs | 12 Months Ended |
Jan. 03, 2015 | |
Compensation Related Costs [Abstract] | |
Executive Officers' Separation and Hiring Costs | EXECUTIVE OFFICERS’ SEPARATION AND HIRING COSTS |
Effective January 17, 2014, Jerry W. Burris resigned from his position as President and Chief Executive Officer and as a director of the Company, and Dana R. Snyder, a director of the Company, was appointed Interim Chief Executive Officer on January 20, 2014. On January 30, 2014, David S. Nagle resigned from his position as Chief Operations Officer, AMI Distribution and Services. Effective May 5, 2014, Brian C. Strauss was appointed President and Chief Executive Officer and a director of the Company, and Mr. Snyder resigned from his position as Interim Chief Executive Officer. Effective July 14, 2014, Robert C. Gaydos resigned from his position as Senior Vice President, Operations and William L. Topper was appointed Executive Vice President, Operations. Effective October 14, 2014, Paul Morrisroe resigned from his position as Senior Vice President and Chief Financial Officer and Scott F. Stephens was appointed Executive Vice President and Chief Financial Officer of the Company. | |
On February 20, 2012, Mr. Nagle was appointed President, AMI Distribution. On February 24, 2012, Stephen E. Graham resigned from his position as Senior Vice President – Chief Financial Officer and Secretary of the Company. On February 27, 2012, the Company entered into an employment agreement with Mr. Morrisroe, pursuant to which he agreed to serve as the Company’s Senior Vice President, Chief Financial Officer and Secretary. The Company’s Senior Vice President of Human Resources, John F. Haumesser, resigned from his position effective April 19, 2012 and was succeeded by James T. Kenyon, who was named Senior Vice President and Chief Human Resources Officer on June 4, 2012. | |
The Company recorded $3.8 million, $1.4 million and $3.4 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively, for separation and hiring costs, including payroll taxes, certain benefits and related professional fees. These separation and hiring costs were recorded as a component of SG&A expenses in the Consolidated Statements of Comprehensive Loss. As of January 3, 2015, remaining separation costs of $1.1 million were accrued, which will be paid at various dates throughout 2016. | |
The separation and hiring costs in 2013 were primarily related to make-whole payments to Mr. Burris, our former President and Chief Executive Officer and Mr. Morrisroe, our former Senior Vice President and Chief Financial Officer. Pursuant to their respective employment agreements, these payments provided compensation to offset losses recognized on the sale of their respective residences in connection with relocating near our corporate headquarters. See Note 2 for further information. |
LongTerm_Debt
Long-Term Debt | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Long-Term Debt | LONG-TERM DEBT | |||||||
Long-term debt consists of (in thousands): | ||||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
9.125% Senior Secured Notes | $ | 834,004 | $ | 835,230 | ||||
Borrowings under the ABL facilities | 69,400 | — | ||||||
$ | 903,404 | $ | 835,230 | |||||
9.125% Senior Secured Notes due 2017 | ||||||||
In October 2010, the Company and AMH New Finance, Inc., its wholly-owned subsidiary (collectively, the “Issuers”) issued and sold $730.0 million of 9.125% Senior Secured Notes due November 1, 2017 (the “existing notes”). The existing notes bear interest at a rate of 9.125% per annum, payable May 1 and November 1 of each year. | ||||||||
On May 1, 2013, the Issuers issued and sold an additional $100.0 million in aggregate principal amount of 9.125% Senior Secured Notes due November 1, 2017 (the “new notes” and, together with the existing notes, the “9.125% notes”) at an issue price of 106.00% of the principal amount of the new notes in a private placement. The Company used the net proceeds of the offering to repay the outstanding borrowings under its senior secured asset-based revolving credit facilities (“ABL facilities”) and for other general corporate purposes. The new notes were issued as additional notes under the same indenture, dated as of October 13, 2010, governing the existing notes, as supplemented by a supplemental indenture (the “Indenture”). The new notes are consolidated with and form a single class with the existing notes and have the same terms as to status, redemption, collateral and otherwise (other than issue date, issue price and first interest payment date) as the existing notes. The debt premium related to the issuance of the new notes is being amortized into interest expense over the life of the new notes. The unamortized premium of $4.0 million is included in the long-term debt balance for the 9.125% notes. The effective interest rate of the new notes, including the premium, is 7.5% as of January 3, 2015. | ||||||||
On September 30, 2013, the Issuers offered to exchange up to $100.0 million aggregate principal amount of 9.125% Senior Secured Notes due 2017 and the related guarantees (the “exchange notes”), which have been registered under the Securities Act for any and all of the new notes. All of the new notes were exchanged for exchange notes on October 31, 2013. | ||||||||
The 9.125% notes, at par value of $830.0 million, have an estimated fair value, classified as a Level 1 measurement, of $652.8 million and $891.2 million based on quoted market prices as of January 3, 2015 and December 28, 2013, respectively. | ||||||||
The Company may from time to time, in its sole discretion, purchase, redeem or retire the 9.125% notes in privately negotiated or open market transactions, by tender offer or otherwise. On April 15, 2014, Parent filed a request with the SEC to withdraw the Registration Statement on Form S-1 filed by Parent on July 15, 2013 for a proposed IPO of its common stock. The registration statement was withdrawn because a determination has been made not to proceed with an IPO of Parent’s common stock at this time. | ||||||||
Guarantees. The 9.125% notes are unconditionally guaranteed, jointly and severally, by each of the Issuers’ 100% owned direct and indirect domestic subsidiaries (“guarantors”) that guarantee the Company’s obligations under the ABL facilities. | ||||||||
Collateral. The 9.125% notes and the guarantees are secured by a first-priority lien on substantially all of the Issuers’ and the guarantors’ present and future assets located in the United States (other than the ABL collateral, in which the 9.125% notes and the guarantees have a second-priority lien, and certain other excluded assets), including equipment, owned real property valued at $5.0 million or more and all present and future shares of capital stock of each of the Issuers’ and each guarantor’s material directly 100% owned domestic subsidiaries and 65% of the present and future shares of capital stock, of each of the Issuers’ and each guarantor’s directly owned foreign restricted subsidiaries (other than Canadian subsidiaries), in each case subject to the Rule 3-16 exclusion described below, certain exceptions and customary permitted liens. In addition, the 9.125% notes and the guarantees are secured by a second-priority lien on substantially all of the Issuers’ and the guarantors’ present and future assets, which assets also secure the Issuers’ obligations under the ABL facilities, including accounts receivable, inventory, related general intangibles, certain other related assets and the proceeds thereof. | ||||||||
The capital stock and other securities of any subsidiary will be excluded from the collateral securing the 9.125% notes and the guarantees to the extent that the pledge of such capital stock and other securities would result in the Company being required to file separate financial statements of such subsidiary with the SEC pursuant to Rule 3-16 or Rule 3-10 of Regulation S-X under the Securities Act of 1933, as amended. Rule 3-16 of Regulation S-X requires the presentation of a company’s standalone, audited financial statements if that company’s capital stock or other securities are pledged to secure the securities of another issuer, and the greatest of the principal amount, par value, book value and market value of the pledged stock or securities equals or exceeds 20% of the principal amount of the securities secured by such pledge. Accordingly, the collateral securing the 9.125% notes and the guarantees may in the future exclude the capital stock and securities of the Company’s subsidiaries, in each case to the extent necessary to not be subject to such requirement. | ||||||||
Optional Redemption. The Issuers have the option to redeem the 9.125% notes, in whole or in part, at any time on or after November 1, 2013 at redemption prices (expressed as percentages of principal amount of the 9.125% notes to be redeemed) of 106.844% and 104.563%, 102.281% and 100.000% during the 12-month periods commencing on November 1, 2013, 2014, 2015 and 2016, respectively, plus accrued and unpaid interest thereon, if any, to, but excluding, the applicable redemption date. | ||||||||
Change of Control. Upon the occurrence of a change of control, as defined in the Indenture, the Issuers must give holders of notes the opportunity to sell the Issuers their 9.125% notes at 101% of their face amount, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. | ||||||||
Covenants. The Indenture contains covenants limiting the Issuers’ ability and the ability of their restricted subsidiaries to, among other things: pay dividends or distributions, repurchase equity, prepay junior debt and make certain investments; incur additional debt or issue certain disqualified stock and preferred stock; incur liens on assets; merge or consolidate with another company or sell all or substantially all assets; enter into transactions with affiliates; and enter into agreements that would restrict the ability of our subsidiaries to pay dividends or make other payments to us. These covenants are subject to important exceptions and qualifications as described in the Indenture. Most of these covenants will cease to apply for so long as the 9.125% notes have investment grade ratings from both Moody’s Investors Service, Inc. and Standard & Poor’s. | ||||||||
ABL Facilities | ||||||||
In October 2010, the Company entered into the ABL facilities in the amount of $225.0 million (comprised of a $150.0 million U.S. facility and a $75.0 million Canadian facility) pursuant to a revolving credit agreement dated October 13, 2010, which was subsequently amended and restated on April 18, 2013 (the “Amended and Restated Revolving Credit Agreement”), to, among other things, extend the maturity date of the Revolving Credit Agreement from October 13, 2015 to the earlier of (i) April 18, 2018 and (ii) 90 days prior to the maturity date of the existing notes. Subsequently, the Company terminated the tranche B revolving credit commitments of $12.0 million and wrote off $0.5 million of deferred financing fees related to the ABL facilities. | ||||||||
Interest Rate and Fees. At the Company’s option, the U.S. and Canadian tranche A revolving credit loans under the Amended and Restated Revolving Credit Agreement governing the ABL facilities bear interest at the rate equal to (1) the London Interbank Offered Rate (“LIBOR”) (for eurodollar loans under the U.S. facility) or the Canadian Dealer Offered Rate (“CDOR”) (for loans under the Canadian facility), plus an applicable margin of 2.00% as of January 3, 2015, or (2) the alternate base rate (for alternate base rate loans under the U.S. facility, which is the highest of a prime rate, the Federal Funds Effective Rate plus 0.50% and a one-month LIBOR rate plus 1.0% per annum) or the alternate Canadian base rate (for loans under the Canadian facility, which is the higher of a Canadian prime rate and the 30-day CDOR Rate plus 1.0%), plus an applicable margin of 1.00% as of January 3, 2015, in each case, which interest rate margin may vary in 25 basis point increments between three pricing levels determined by reference to the average excess availability in respect of the U.S. and Canadian tranche A revolving credit loans. In addition to paying interest on outstanding principal under the ABL facilities, the Company is required to pay a commitment fee in respect of the U.S. and Canadian tranche A revolving credit loans, payable quarterly in arrears, of 0.375%. | ||||||||
Borrowing Base. Availability under the U.S. and Canadian facilities are subject to a borrowing base, which is based on eligible accounts receivable and inventory of certain of the Company’s U.S. subsidiaries and eligible accounts receivable, inventory and, with respect to the Canadian tranche A revolving credit loans, equipment and real property, of certain of the Company’s Canadian subsidiaries, after adjusting for customary reserves established or modified from time to time by and at the permitted discretion of the administrative agent thereunder. To the extent that eligible accounts receivable, inventory, equipment and real property decline, the Company’s borrowing base will decrease and the availability under the ABL facilities may decrease below $213.0 million. In addition, if the amount of outstanding borrowings and letters of credit under the U.S. and Canadian facilities exceeds the borrowing base or the aggregate revolving credit commitments, the Company is required to prepay borrowings to eliminate the excess. | ||||||||
Guarantors. All obligations under the U.S. facility are guaranteed by each existing and subsequently acquired direct and indirect wholly-owned material U.S. restricted subsidiary of the Company and by the direct parent of the Company, other than certain excluded subsidiaries (“U.S. guarantors”). All obligations under the Canadian facility are guaranteed by each existing and subsequently acquired direct and indirect wholly-owned material Canadian restricted subsidiary of the Company, other than certain excluded subsidiaries (“Canadian guarantors,” and together with U.S. guarantors, “ABL guarantors”) and the U.S. guarantors. | ||||||||
Security. The U.S. security agreement provides that all obligations of the U.S. borrowers and the U.S. guarantors are secured by a security interest in substantially all of the present and future property and assets of the Company, including a first-priority security interest in the capital stock of the Company and a second-priority security interest in the capital stock of each direct, material wholly-owned restricted subsidiary of the Company. The Canadian security agreement provides that all obligations of the Canadian borrowers and the Canadian guarantors are secured by the U.S. ABL collateral and a security interest in substantially all of the Company’s Canadian assets, including a first-priority security interest in the capital stock of the Canadian borrowers and each direct, material wholly-owned restricted subsidiary of the Canadian borrowers and Canadian guarantors. | ||||||||
Covenants, Representations and Warranties. The Amended and Restated Revolving Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, with respect to negative covenants, among other things, restrictions on indebtedness, liens, investments, fundamental changes, asset sales, dividends and other distributions, prepayments or redemption of junior debt, transactions with affiliates and negative pledge clauses. There are no financial covenants included in the Amended and Restated Revolving Credit Agreement, other than a springing fixed charge coverage ratio of at least 1.00 to 1.00, which will be tested only when excess availability is less than the greater of (i) 10.0% of the sum of (x) the lesser of (A) the U.S. tranche A borrowing base and (B) the U.S tranche A revolving credit commitments and (y) the lesser of (A) the Canadian tranche A borrowing base and (B) the Canadian tranche A revolving credit commitments and (ii) $20.0 million for a period of five consecutive business days until the 30th consecutive day when excess availability exceeds the above threshold. | ||||||||
On March 23, 2015, the Amended and Restated Revolving Credit Agreement was amended to permit, among other things, for the period commencing on and including April 3, 2015 through and including June 5, 2015, for the fixed charge coverage ratio to be tested or for a cash dominion period to commence, only if excess availability is less than $15.0 million for a period of five consecutive business days. In addition, such amendment includes a provision for weekly borrowing base certificate reporting for the period commencing on and including April 12, 2015 through and including June 10, 2015 in lieu of delivery of a borrowing base certificate after each fiscal month. | ||||||||
The fixed charge coverage ratio was 0.54:1.00 for the four consecutive fiscal quarter test period ended January 3, 2015. The Company has not triggered such fixed charge coverage ratio covenant as of January 3, 2015, as excess availability of $79.1 million as of such date was in excess of the covenant trigger threshold. Based on current projections, the Company expects that the excess availability will be reduced in the first half of 2015 due to the seasonality of its business. The Company currently does not expect to trigger the fixed charge coverage ratio test for 2015. | ||||||||
As of January 3, 2015, there was $69.4 million drawn under the Company’s Amended and Restated Revolving Credit Agreement and $99.1 million available for additional borrowings. The weighted average per annum interest rate applicable to borrowings under the U.S. portion and the Canadian portion of the revolving credit commitment was 3.5% and 4.3%, respectively, as of January 3, 2015. The Company had letters of credit outstanding of $11.6 million as of January 3, 2015 primarily securing insurance policy deductibles, certain lease facilities and the Company’s purchasing card program. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Tax Disclosure [Text Block] | INCOME TAXES | |||||||||||
Loss before income taxes is as follows (in thousands): | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
U.S. | $ | (268,991 | ) | $ | (37,150 | ) | $ | (42,755 | ) | |||
Canada | (51,899 | ) | 6,164 | 9,993 | ||||||||
$ | (320,890 | ) | $ | (30,986 | ) | $ | (32,762 | ) | ||||
Income tax (benefit) expense for the periods presented consists of (in thousands): | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Current: | ||||||||||||
Federal | $ | (14 | ) | $ | (802 | ) | $ | (107 | ) | |||
State | 16 | 657 | 328 | |||||||||
Foreign | 3,998 | 4,155 | 7,445 | |||||||||
4,000 | 4,010 | 7,666 | ||||||||||
Deferred: | ||||||||||||
Federal | (20,844 | ) | 397 | (240 | ) | |||||||
State | (3,084 | ) | (467 | ) | (478 | ) | ||||||
Foreign | (7,273 | ) | (1,433 | ) | (1,343 | ) | ||||||
(31,201 | ) | (1,503 | ) | (2,061 | ) | |||||||
Income tax (benefit) expense | $ | (27,201 | ) | $ | 2,507 | $ | 5,605 | |||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. | ||||||||||||
Significant components of the Company’s deferred income taxes are as follows (in thousands): | ||||||||||||
January 3, | December 28, | |||||||||||
2015 | 2013 | |||||||||||
Deferred income tax assets: | ||||||||||||
Medical benefits | $ | 1,708 | $ | 1,642 | ||||||||
Allowance for doubtful accounts | 3,278 | 3,420 | ||||||||||
Pension and other postretirement plans | 12,430 | 7,413 | ||||||||||
Inventory costs | 1,592 | 1,885 | ||||||||||
Warranty costs | 33,819 | 34,611 | ||||||||||
Net operating loss carryforwards | 162,925 | 133,783 | ||||||||||
Foreign tax credit carryforwards | 4,455 | 4,455 | ||||||||||
Accrued expenses and other | 11,437 | 11,518 | ||||||||||
Total deferred income tax assets | 231,644 | 198,727 | ||||||||||
Valuation allowance | (111,888 | ) | (74,075 | ) | ||||||||
Net deferred income tax assets | 119,756 | 124,652 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Depreciation | 15,815 | 19,151 | ||||||||||
Intangible assets | 157,546 | 200,481 | ||||||||||
Tax liability on unremitted foreign earnings | 10,496 | 1,868 | ||||||||||
Gain on debt extinguishment | 17,933 | 22,241 | ||||||||||
Other | 5,149 | 4,871 | ||||||||||
Total deferred income tax liabilities | 206,939 | 248,612 | ||||||||||
Net deferred income tax liabilities | $ | (87,183 | ) | $ | (123,960 | ) | ||||||
As of January 3, 2015, the Company had U.S. federal net operating loss (“NOL”) carryforwards of $408.1 million and foreign tax credit carryforwards of $4.5 million. The U.S. NOL carryforwards expire in years 2031 through 2034 and the foreign tax credit carryforward expires in year 2017. In addition, the Company has tax benefits related to state NOL carryforwards of $20.6 million, which expire in the years 2015 through 2034. | ||||||||||||
As of January 3, 2015, the Company had total federal, state, and foreign deferred tax assets before valuation allowances of $199.6 million, $25.7 million, and $6.3 million, respectively. ASC 740 requires that a valuation allowance be recorded against deferred tax assets when it is more likely than not that some or all of a company’s deferred tax assets will not be realized based on available positive and negative evidence. To the extent the reversal of deferred tax liabilities is relied upon in the Company’s assessment of the realizability of deferred tax assets, the Company has determined that they will reverse in the same period and jurisdiction as the temporary differences giving rise to the deferred tax assets. Deferred tax liabilities related to non-amortizable intangibles or otherwise not reversing, were not offset against deferred tax assets. The Company has not identified any significant U.S. tax planning strategies to support the utilization of deferred tax assets. After reviewing all available positive and negative evidence as of January 3, 2015 and December 28, 2013, the Company recorded a full valuation allowance against its U.S. net federal deferred tax assets since the Company is in a three-year cumulative loss position in the U.S. and it was unable to identify any strong positive evidence, other than the reversal of the appropriate deferred tax liabilities. Therefore, as of January 3, 2015, $119.8 million of the total deferred tax assets of $231.6 million was considered more-likely- than-not to be realized, resulting in a valuation allowance of $111.9 million. Of this amount, $96.9 million relates to U.S. federal and $15.0 million relates to state jurisdictions. The net valuation allowance provided against these U.S. net deferred tax assets during 2014 increased by $37.8 million. Of this amount, $32.1 million was recorded as an increase in 2014 provision for income taxes with the remainder being reflected through other comprehensive income. The Company reviews its valuation allowance related to deferred tax assets and will reverse this valuation allowance, partially or totally, when, and if, appropriate under ASC 740. The Company is in a net deferred tax liability position in Canada. The future reversal of existing Canadian deferred tax liabilities are of the appropriate character and timing such that all of its Canadian deferred tax assets are considered more likely than not realizable. | ||||||||||||
The reconciliation of the statutory rate to the Company’s effective income tax rate for the periods presented is as follows: | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Statutory rate | (35.0 | )% | (35.0 | )% | (35.0 | )% | ||||||
State income tax, net of federal income tax benefit | 0.5 | % | (2.8 | )% | (0.3 | )% | ||||||
Tax liability on remitted and unremitted foreign earnings | 2.4 | % | 16.9 | % | 12.4 | % | ||||||
Goodwill impairment | 15.7 | % | — | % | — | % | ||||||
Foreign rate differential | 0.4 | % | (1.8 | )% | (2.8 | )% | ||||||
Valuation allowance | 7.8 | % | 28.6 | % | 32.7 | % | ||||||
Foreign tax credit and withholding taxes | 0.3 | % | 0.8 | % | 7.3 | % | ||||||
Prior year assessments | 0.1 | % | 2.8 | % | — | % | ||||||
Other | (0.7 | )% | (1.4 | )% | 2.8 | % | ||||||
Effective rate | (8.5 | )% | 8.1 | % | 17.1 | % | ||||||
It is the Company’s intent to remit all earnings from its foreign subsidiary and as of January 3, 2015, the Company had reflected all U.S. tax costs of remittance of such earnings in its financial statements. | ||||||||||||
A reconciliation of the unrecognized tax benefits for the periods presented is as follows (in thousands): | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Unrecognized tax benefits, beginning of year | $ | 7,040 | $ | 7,146 | $ | 7,860 | ||||||
Gross increase for tax positions of prior years | — | — | 707 | |||||||||
Gross increases for tax positions of the current year | 107 | 147 | 81 | |||||||||
Gross decreases for tax positions of prior years | (6,133 | ) | (253 | ) | (142 | ) | ||||||
Settlements | — | — | (1,360 | ) | ||||||||
Unrecognized tax benefits, end of year | $ | 1,014 | $ | 7,040 | $ | 7,146 | ||||||
As of January 3, 2015, the accrued interest related to uncertain tax positions is immaterial. The Company recorded $0.1 million of accrued interest related to uncertain tax positions as of December 28, 2013. | ||||||||||||
As of January 3, 2015, the Company is subject to U.S. federal income tax examinations for the tax years 2011 through 2013 and to non-U.S. income tax examinations for the tax years of 2011 through 2013. In addition, the Company is subject to state and local income tax examinations for the tax years 2009 through 2013. The Company had unrecognized tax benefits and accrued interest that would affect the Company’s effective tax rate if recognized of approximately $1.0 million and $1.2 million as of January 3, 2015 and December 28, 2013, respectively. The Company is currently undergoing examinations of certain state income tax returns. During 2012, the Company agreed to U.S. federal tax adjustments of $1.3 million related to the 2009 tax year. The final outcome of any other examinations are not yet determinable; however, management anticipates that adjustments to unrecognized tax benefits, if any, would not result in a material change to the results of operations, financial condition, or liquidity. | ||||||||||||
The Company and its U.S. subsidiaries are included in the consolidated income tax returns filed by Associated Materials Group, Inc., its indirect parent company. The Company and each of its subsidiaries entered into a tax sharing agreement under which federal income taxes are computed by the Company and each of its subsidiaries on a separate return basis. As of January 3, 2015 and December 28, 2013, there were no amounts due to or payable from Associated Materials Group, Inc. related to the tax sharing agreement. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||||||||||
Comprehensive Income (Loss) Note [Text Block] | Changes in accumulated other comprehensive loss by component, net of tax, are as follows (in thousands): | |||||||||||
Pension and other Postretirement benefit Liability | Foreign Currency Translation | Accumulated Other Comprehensive Loss | ||||||||||
Balance at December 29, 2012 | $ | (23,287 | ) | $ | 6,040 | $ | (17,247 | ) | ||||
Other comprehensive income (loss) before reclassifications, net of tax of $2,553 | 19,151 | (20,443 | ) | (1,292 | ) | |||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax of $138 | 623 | — | 623 | |||||||||
Balance at December 28, 2013 | $ | (3,513 | ) | $ | (14,403 | ) | $ | (17,916 | ) | |||
Other comprehensive loss before reclassifications, net of tax of $2,108 | (20,241 | ) | (22,439 | ) | (42,680 | ) | ||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax of $21 | (27 | ) | — | (27 | ) | |||||||
Balance at January 3, 2015 | $ | (23,781 | ) | $ | (36,842 | ) | $ | (60,623 | ) | |||
Reclassifications out of accumulated other comprehensive loss consists of the following (in thousands): | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | |||||||||||
2015 | ||||||||||||
Defined Benefit Pension and Other Postretirement Plans: | ||||||||||||
Amortization of unrecognized prior service costs | $ | 28 | $ | 21 | ||||||||
Amortization of unrecognized cumulative actuarial net (gain) loss | (34 | ) | 740 | |||||||||
Total before tax | (6 | ) | 761 | |||||||||
Tax expense | 21 | 138 | ||||||||||
Net of tax | $ | (27 | ) | $ | 623 | |||||||
Amortization of prior unrecognized service costs and actuarial losses are included in the computation of net periodic benefit cost for the Company’s pension and other postretirement benefit plans. See Note 15 for further information. |
Stock_Plans
Stock Plans | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 2010 Stock Incentive Plan | |||||||||||
In October 2010, Parent’s board of directors adopted the Associated Materials Group, Inc. 2010 Stock Incentive Plan (“2010 Plan”). The 2010 Plan is an incentive compensation plan that permits grants of equity-based compensation awards to employees, directors and consultants of Parent and its subsidiaries. Awards under the 2010 Plan may be in the form of stock options (either incentive stock options “ISO’s” or non-qualified stock options) or other stock-based awards, including restricted stock awards, restricted stock unit awards and stock appreciation rights. | ||||||||||||
The maximum number of shares originally reserved for the grant or settlement of awards under the 2010 Plan was 6,150,076 shares of Parent common stock, subject to adjustment in the event of any share dividend or split, reorganization, recapitalization, merger, consolidation, spinoff, combination, or any extraordinary dividend or other similar corporate transaction. In November 2014, Parent’s board of directors and Parent’s stockholders approved an amendment and restatement to the 2010 Plan to increase the maximum number of shares which may be issued under the 2010 Plan by 1,400,000 shares of common stock, from 6,150,076 to 7,550,076 shares of Parent common stock. Any shares subject to awards which terminate or lapse without payment of consideration may be granted again under the 2010 Plan. In the event of a change in control, Parent’s compensation committee may, at its discretion, accelerate the vesting or cause any restrictions to lapse with respect to outstanding awards, or may cancel such awards for fair value, or may provide for the issuance of substitute awards. | ||||||||||||
Stock Options | ||||||||||||
Options granted under the 2010 Plan were awarded at exercise prices at or above the fair market value of such stock on the date of grant. Each option holder was granted awards with time-based vesting and/or performance-based vesting provisions. Subject to the option holders’ continued employment on each vesting date, the time-based options vest with respect to 20% of the shares on each anniversary of the grant date, with accelerated vesting of all unvested shares in the event of a change in control, as defined in the 2010 Plan. Subject to the option holders’ continued employment on each vesting date, the performance-based options vest based on the achievement of Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (“Adjusted EBITDA”) targets as established by Parent’s board of directors annually with respect to 20% of the shares per year over a five-year period, or if the target for a given year is not achieved, the option may vest if the applicable Adjusted EBITDA target is achieved in the next succeeding year. In addition, the performance-based options also provide that in the event of a change in control, that portion of the option that was scheduled to vest in the year in which the change in control occurs and in any subsequent years shall vest immediately prior to such change in control. If a liquidity event occurs (defined as the first to occur of either a change in control or an initial public offering (“IPO”) of Parent’s common stock), any portion of the performance-based option that did not vest in any prior year because the applicable Adjusted EBITDA target was not met will vest if and only if the H&F Investors receive a three times return on their initial cash investment in Parent. Each option award has a contractual life of ten years. | ||||||||||||
The stock underlying the options awarded under the 2010 Plan is governed by the stockholders agreement of Parent. Stock purchased as a result of the exercise of options is subject to a call right by Parent, and as a result, other than in limited circumstances, stock issued upon the exercise of the option may be repurchased at the right of Parent. This repurchase feature results in no compensation expense recognized in connection with options granted by Parent, until such time as the exercise of the options could occur without repurchase of the shares by Parent, which is only likely to occur upon a liquidity event, change in control or the completion of an IPO offering of shares of Parent’s common stock. Upon such liquidity event, change in control or IPO, the repurchase feature, with respect to outstanding option awards, is removed and compensation expense related to all option awards, to the extent vested, is recognized immediately. | ||||||||||||
For the year ended January 3, 2015, Parent granted time-based options and performance-based options to purchase 3.4 million and 0.2 million shares of Parent’s common stock, respectively. None of the 2012, 2013 and 2014 tranches of performance-based awards granted were vested as of January 3, 2015 since the targets for these fiscal years were not achieved. | ||||||||||||
Stock option activity during the year ended January 3, 2015 is summarized below: | ||||||||||||
Shares | Weighted | Remaining | ||||||||||
Average | Contractual | |||||||||||
Exercise Price | Term(years) | |||||||||||
Options outstanding December 28, 2013 | 4,835,438 | $ | 10.52 | |||||||||
Granted | 3,598,963 | 9.19 | ||||||||||
Exercised | — | — | ||||||||||
Forfeited | (2,931,841 | ) | 10.25 | |||||||||
Options outstanding January 3, 2015 | 5,502,560 | $ | 9.77 | 8.5 | ||||||||
Options exercisable January 3, 2015 | 1,158,541 | $ | 12.14 | 6.4 | ||||||||
The fair value of the options granted during 2014, 2013 and 2012 was estimated at the date of the grant using the Black-Scholes model. The weighted average assumptions and fair value of the options were as follows: | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Dividend yield | — | % | — | % | — | % | ||||||
Annual risk-free rate | 2.26 | % | 1.99 | % | 1.69 | % | ||||||
Expected life of options (years) | 8.17 | 7.19 | 8.27 | |||||||||
Volatility | 42.2 | % | 52.3 | % | 51 | % | ||||||
Weighted average fair value of options granted per share | $ | 1.95 | $ | 2.58 | $ | 1.74 | ||||||
The expected dividend yield is based on Parent’s historical and expected future dividend policy. The annual risk-free interest rate is based on zero coupon treasury bond rates corresponding to the expected life of the awards. The expected lives of the awards are based on the contractual term, the vesting period and the expected lives used by a peer group with similar option terms. Due to the fact that the shares of common stock of Parent have not and do not trade publicly, the expected volatility assumption was derived by referring to changes in the common stock prices of several peer companies (with respect to industry, size and leverage) over the same timeframe as the expected life of the awards. | ||||||||||||
In September 2011, Parent’s board of directors modified certain performance-based and time-based options held by eligible participants to reduce the exercise price of such options. The number of options repriced was 2.4 million to 43 employees, with a weighted average exercise price prior to repricing of $19.25 and an average remaining contractual life of 9.3 years. The compensation cost relating to this repricing resulted in additional unrecognized non-cash expense of $1.3 million that may be recognized over the remaining life of the options subject to vesting conditions. | ||||||||||||
In June 2011, Parent’s board of directors modified certain outstanding performance-based options held by eligible participants to reduce the Adjusted EBITDA target of such options for the portion of the award vesting in 2011 and to defer the establishment of Adjusted EBITDA targets for subsequent tranches, which will be set at an amount equal to or greater than the Company’s budgeted Adjusted EBITDA as determined by Parent’s board of directors within 90 days of the commencement of each fiscal year. The number of options included in the modification was 0.5 million to 8 employees, with a weighted average exercise price of $10.00 and an average remaining contractual life of 9.3 years. There was no incremental compensation cost related to this modification. | ||||||||||||
Restricted Stock and Restricted Stock Units Awards | ||||||||||||
Grants of restricted stock and restricted stock units have been awarded to certain officers and board members under the 2010 Plan. The awards vest at various dates with vesting periods up to five years. The weighted average fair value of restricted stock and restricted stock unit awards was $5.61 for 2014 and $4.25 for both 2013 and 2012, and was calculated using the estimated market value of the shares on the date of grant. | ||||||||||||
The following table summarizes the Company’s restricted stock and restricted stock unit award activity for the year ended January 3, 2015: | ||||||||||||
Shares | Weighted | |||||||||||
Average Fair | ||||||||||||
Value Per Share | ||||||||||||
Nonvested at December 28, 2013 | 85,600 | $ | 4.25 | |||||||||
Granted | 62,982 | 5.61 | ||||||||||
Vested | (88,382 | ) | 5.22 | |||||||||
Forfeited | (8,000 | ) | 4.25 | |||||||||
Nonvested at January 3, 2015 | 52,200 | $ | 4.25 | |||||||||
As of January 3, 2015, there was $13.4 million of unrecognized compensation cost related to Parent’s stock-based awards granted under the 2010 Plan and this cost is expected to be recognized at the time of a liquidity event or IPO. Compensation cost of $0.5 million, $0.2 million and $0.1 million was incurred related to Parent’s equity-based compensation plans recorded during 2014, 2013 and 2012, respectively, which was primarily included in SG&A expenses in the Consolidated Statements of Comprehensive Loss. The Company did not receive any cash as a result of vesting and exercise of equity-based compensation awards for the year ended January 3, 2015. |
Retirement_Plans
Retirement Plans | 12 Months Ended | |||||||||||||||||||||||
Jan. 03, 2015 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||
Retirement Plans | RETIREMENT PLANS | |||||||||||||||||||||||
The Company sponsors defined benefit pension plans which cover hourly workers at its West Salem, Ohio plant, and hourly union employees at its Woodbridge, New Jersey plant as well as a defined benefit retirement plan covering U.S. salaried employees, which was frozen in 1998 and subsequently replaced with a defined contribution plan (the “Domestic Plans”). In 2013, the pension plan for West Salem was amended to reflect an increase in the pension multiplier. Employees who were covered by the pension plan prior to the amendment were provided an opportunity to irrevocably freeze their pension, along with any vested benefits associated with the plan, and elect to participate in a defined contribution plan. In addition, the amendment effectively closed the plan to any new employees hired after November 4, 2013. | ||||||||||||||||||||||||
The Company also sponsors a defined benefit pension plan covering the Canadian salaried employees and hourly union employees at the Lambeth, Ontario plant, a defined benefit pension plan for the hourly union employees at its Burlington, Ontario plant, and a defined benefit pension plan for the hourly union employees at its Pointe Claire, Quebec plant (the “Foreign Plans”). In 2014, the pension plans for Pointe Claire and Burlington were amended to reflect an increase in benefits, effective November 15, 2015 and September 1, 2016, respectively. Also, lump sum payments made to members of the Pointe Claire plan in 2014 and 2013 upon termination and retirement, totaled more than the sum of the service cost and interest costs and as a result, the Company recorded settlement losses of $0.1 million and $0.6 million in 2014 and 2013, respectively. The Company does not expect to incur this type of loss in 2015 and beyond, due to a current year amendment disallowing the lump sum payment feature that triggered the settlement losses in each respective year. | ||||||||||||||||||||||||
The Company also provides postretirement benefits other than pension (“OPEB plans”) including health care or life insurance benefits to certain U.S. and Canadian retirees and in some cases, their spouses and dependents. The Company’s postretirement benefit plans in the U.S. include an unfunded health care plan for hourly workers at the Company’s former steel siding plant in Cuyahoga Falls, Ohio. With the closure of this facility in 1991, no additional employees are eligible to participate in this plan. There are three other U.S. unfunded plans covering either life insurance or health care benefits for small frozen groups of retirees. The Company’s foreign postretirement benefit plan provides life insurance benefits to active members at its Pointe Claire, Quebec plant and a closed group of Canadian salaried retirees. The actuarial valuation measurement date for the defined pension plans and postretirement benefits other than pension is December 31. | ||||||||||||||||||||||||
The Company sponsors defined contribution plans, which are qualified as tax-exempt plans. The plans cover all full-time, non-union employees with matching contributions of up to 3.5% of eligible compensation in both the U. S. and Canada, depending on length of service and levels of contributions. The Company’s pre-tax contributions to its defined contribution plans were $2.7 million, $2.6 million and $2.4 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. | ||||||||||||||||||||||||
The change in benefit obligation and plan assets for the Company’s defined benefit pension and OPEB plans are as follows (in thousands): | ||||||||||||||||||||||||
January 3, 2015 | December 28, 2013 | |||||||||||||||||||||||
Domestic | Foreign | OPEB Plans | Domestic | Foreign | OPEB Plans | |||||||||||||||||||
Plans | Plans | Plans | Plans | |||||||||||||||||||||
Change in projected benefit obligation: | ||||||||||||||||||||||||
Projected benefit obligation at beginning of period | $ | 67,162 | $ | 76,961 | $ | 4,856 | $ | 74,223 | $ | 85,694 | $ | 6,067 | ||||||||||||
Service cost | 1,233 | 2,373 | 11 | 1,033 | 2,785 | 12 | ||||||||||||||||||
Interest cost | 3,189 | 3,616 | 186 | 2,902 | 3,769 | 185 | ||||||||||||||||||
Plan amendments | — | 133 | — | 112 | — | (51 | ) | |||||||||||||||||
Actuarial loss (gain) | 14,218 | 11,442 | 343 | (7,323 | ) | (4,322 | ) | (818 | ) | |||||||||||||||
Settlements | — | (688 | ) | — | — | (1,855 | ) | — | ||||||||||||||||
Participant contributions | — | 333 | 17 | — | 288 | 9 | ||||||||||||||||||
Benefits paid | (3,809 | ) | (3,610 | ) | (474 | ) | (3,785 | ) | (3,599 | ) | (561 | ) | ||||||||||||
Retiree drug subsidy reimbursement | — | — | 43 | — | — | 41 | ||||||||||||||||||
Effect of foreign exchange | — | (7,848 | ) | (34 | ) | — | (5,799 | ) | (28 | ) | ||||||||||||||
Projected benefit obligation at end of period | 81,993 | 82,712 | 4,948 | 67,162 | 76,961 | 4,856 | ||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of assets at beginning of period | 54,502 | 67,964 | — | 47,922 | 61,965 | — | ||||||||||||||||||
Actual return on plan assets | 4,297 | 7,191 | — | 7,453 | 9,006 | — | ||||||||||||||||||
Settlements | — | (688 | ) | — | — | (1,855 | ) | — | ||||||||||||||||
Employer contributions | 3,641 | 5,998 | 457 | 2,912 | 6,768 | 552 | ||||||||||||||||||
Participant contributions | — | 333 | 17 | — | 288 | 9 | ||||||||||||||||||
Benefits paid | (3,809 | ) | (3,610 | ) | (474 | ) | (3,785 | ) | (3,599 | ) | (561 | ) | ||||||||||||
Effect of foreign exchange | — | (6,766 | ) | — | — | (4,609 | ) | — | ||||||||||||||||
Fair value of assets at end of period | 58,631 | 70,422 | — | 54,502 | 67,964 | — | ||||||||||||||||||
Funded status | $ | (23,362 | ) | $ | (12,290 | ) | $ | (4,948 | ) | $ | (12,660 | ) | $ | (8,997 | ) | $ | (4,856 | ) | ||||||
Accumulated Benefit Obligation | $ | 81,993 | $ | 76,472 | $ | 4,948 | $ | 67,162 | $ | 72,153 | $ | 4,856 | ||||||||||||
The amounts recognized in consolidated balance sheets and other comprehensive loss (income) for the Company’s defined benefit pension and OPEB plans are as follows (in thousands): | ||||||||||||||||||||||||
January 3, 2015 | December 28, 2013 | |||||||||||||||||||||||
Domestic | Foreign | OPEB Plans | Domestic | Foreign | OPEB Plans | |||||||||||||||||||
Plans | Plans | Plans | Plans | |||||||||||||||||||||
Balance sheets: | ||||||||||||||||||||||||
Accrued liabilities | $ | — | $ | — | $ | (462 | ) | $ | — | $ | — | $ | (515 | ) | ||||||||||
Other liabilities | (23,362 | ) | (12,290 | ) | (4,486 | ) | (12,660 | ) | (8,997 | ) | (4,341 | ) | ||||||||||||
Total recognized | $ | (23,362 | ) | $ | (12,290 | ) | $ | (4,948 | ) | $ | (12,660 | ) | $ | (8,997 | ) | $ | (4,856 | ) | ||||||
Accumulated other comprehensive loss (income): | ||||||||||||||||||||||||
Net actuarial loss (gain) | $ | 11,839 | $ | 12,735 | $ | (280 | ) | $ | (2,137 | ) | $ | 4,883 | $ | (712 | ) | |||||||||
Net prior service cost (credit) | 106 | 479 | (43 | ) | 116 | 380 | (51 | ) | ||||||||||||||||
Total recognized | $ | 11,945 | $ | 13,214 | $ | (323 | ) | $ | (2,021 | ) | $ | 5,263 | $ | (763 | ) | |||||||||
For the defined benefit pension plans, the estimated net actuarial loss and prior service cost to be amortized from accumulated other comprehensive loss into periodic benefit cost over the next fiscal year is $0.7 million. For the OPEB plans, the estimated actuarial gain and prior service credit to be amortized from accumulated other comprehensive income into periodic benefit cost over the next fiscal year is immaterial. | ||||||||||||||||||||||||
The components of net periodic benefit cost for the Company’s pension benefit plans are as follows (in thousands): | ||||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
3-Jan-15 | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||
Plans | Plans | Plans | Plans | Plans | Plans | |||||||||||||||||||
Service cost | $ | 1,233 | $ | 2,373 | $ | 1,033 | $ | 2,785 | $ | 752 | $ | 2,421 | ||||||||||||
Interest cost | 3,189 | 3,616 | 2,902 | 3,769 | 3,056 | 3,925 | ||||||||||||||||||
Expected return on assets | (4,055 | ) | (4,275 | ) | (3,548 | ) | (3,900 | ) | (3,224 | ) | (3,726 | ) | ||||||||||||
Loss recognized due to settlements | — | 117 | — | 599 | — | — | ||||||||||||||||||
Amortization of prior service cost | 10 | 26 | 1 | 20 | — | 21 | ||||||||||||||||||
Amortization of net actuarial loss (gain) | — | 54 | 240 | 508 | 4 | 45 | ||||||||||||||||||
Net periodic benefit cost | $ | 377 | $ | 1,911 | $ | 628 | $ | 3,781 | $ | 588 | $ | 2,686 | ||||||||||||
The components of other comprehensive loss (income) for the Company’s pension benefit plans are as follows (in thousands): | ||||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
3-Jan-15 | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||
Plans | Plans | Plans | Plans | Plans | Plans | |||||||||||||||||||
Net actuarial loss (gain) | $ | 13,976 | $ | 8,023 | $ | (11,228 | ) | $ | (9,121 | ) | $ | 3,447 | $ | 8,040 | ||||||||||
Prior service cost | — | 125 | 112 | — | 5 | — | ||||||||||||||||||
Loss recognized due to settlements | — | (117 | ) | — | (599 | ) | — | — | ||||||||||||||||
Amortization of prior service cost | (10 | ) | (26 | ) | (1 | ) | (20 | ) | — | (21 | ) | |||||||||||||
Amortization of net actuarial (loss) gain | — | (54 | ) | (240 | ) | (508 | ) | (4 | ) | (45 | ) | |||||||||||||
Total recognized | $ | 13,966 | $ | 7,951 | $ | (11,357 | ) | $ | (10,248 | ) | $ | 3,448 | $ | 7,974 | ||||||||||
The components of net periodic benefit cost for the Company’s OPEB Plans are as follows (in thousands): | ||||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Service cost | $ | 11 | $ | 12 | $ | 13 | ||||||||||||||||||
Interest cost | 186 | 185 | 233 | |||||||||||||||||||||
Amortization of prior service credit | (8 | ) | — | — | ||||||||||||||||||||
Amortization of net actuarial (gain) loss | (88 | ) | (8 | ) | 1 | |||||||||||||||||||
Net periodic benefit cost | $ | 101 | $ | 189 | $ | 247 | ||||||||||||||||||
The components of other comprehensive loss (income) for the Company’s OPEB Plans are as follows (in thousands): | ||||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Net actuarial loss (gain) | $ | 342 | $ | (817 | ) | 109 | ||||||||||||||||||
Prior service credit | — | (51 | ) | — | ||||||||||||||||||||
Amortization of prior service credit | 8 | — | — | |||||||||||||||||||||
Amortization of net actuarial gain (loss) | 88 | 8 | (1 | ) | ||||||||||||||||||||
Total recognized | $ | 438 | $ | (860 | ) | 108 | ||||||||||||||||||
The weighted average assumptions used to determine projected benefit obligation for the Company’s pension and OPEB plans are: | ||||||||||||||||||||||||
January 3, | December 28, 2013 | |||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Discount rate: | ||||||||||||||||||||||||
Domestic plans | 4.02 | % | 4.81 | % | ||||||||||||||||||||
Foreign plans | 4 | % | 4.78 | % | ||||||||||||||||||||
OPEB plans | 3.69 | % | 4.25 | % | ||||||||||||||||||||
Compensation increases: | ||||||||||||||||||||||||
Domestic plans | — | % | — | % | ||||||||||||||||||||
Foreign plans | 3.5 | % | 3.5 | % | ||||||||||||||||||||
The weighted average assumptions used to determine projected net periodic benefit cost for the Company’s pension and OPEB plans are: | ||||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | December 29, | ||||||||||||||||||||||
2015 | 2012 | |||||||||||||||||||||||
Discount rate: | ||||||||||||||||||||||||
Domestic plans | 4.81 | % | 3.97 | % | 4.54 | % | ||||||||||||||||||
Foreign plans | 4.78 | % | 4.48 | % | 5.17 | % | ||||||||||||||||||
OPEB plans | 4.25 | % | 3.43 | % | 4.1 | % | ||||||||||||||||||
Long-term rate of return on assets: | ||||||||||||||||||||||||
Domestic plans | 7.5 | % | 7.5 | % | 7.5 | % | ||||||||||||||||||
Foreign plans | 6.3 | % | 6.25 | % | 6.5 | % | ||||||||||||||||||
Compensation increases: | ||||||||||||||||||||||||
Domestic plans | — | % | — | % | — | % | ||||||||||||||||||
Foreign plans | 3.5 | % | 3.5 | % | 3.5 | % | ||||||||||||||||||
The following table presents health care cost trend rates used to determine net periodic benefit cost for the Company’s OPEB plans, as well as information regarding the ultimate cost trend and the year in which their ultimate rate is reached: | ||||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Assumed health care cost trend rate medical claims | 6.8 | % | 7 | % | 7.5 | % | ||||||||||||||||||
Ultimate health care cost trend | 5 | % | 5 | % | 5 | % | ||||||||||||||||||
Ultimate year health care cost trend rate is achieved | 2023 | 2022 | 2018 | |||||||||||||||||||||
A one-percentage-point increase (decrease) in the assumed health care cost trend rates has the following effects on postretirement obligations at January 3, 2015 (in thousands): | ||||||||||||||||||||||||
1% Increase | 1% Decrease | |||||||||||||||||||||||
Increase (decrease) in accumulated postretirement benefit obligation | $ | 325 | $ | (280 | ) | |||||||||||||||||||
Increase (decrease) in aggregate service and interest cost | 10 | (8 | ) | |||||||||||||||||||||
The discount rates used for the Company’s domestic plans were set on a plan by plan basis and reflect the market rate for high-quality fixed-income U.S. debt instruments that are rated AA or higher by a recognized ratings agency as of the annual measurement date. The discount rate is subject to change each year. In selecting the assumed discount rate, the Company considered current available rates of return expected to be available during the period to maturity of the pension and other postretirement benefit obligations. The discount rate for the Company’s foreign plans was selected on the same basis as described above for the domestic plans, except that the discount rate was evaluated using the spot rates generated by a Canadian corporate AA bond yield curve. | ||||||||||||||||||||||||
The Company’s financial objectives with respect to its pension plan assets are to provide growth, income from plan assets and benefits to its plan participants. The investment portfolio is designed to maximize investment returns within reasonable and prudent levels of risk, and to maintain sufficient liquidity to meet benefit obligations on a timely basis. The expected return on plan assets takes into consideration expected long-term inflation, historical returns and estimated future long-term returns based on capital market assumptions applied to the asset allocation strategy. The expected return on plan assets assumption considers asset returns over a full market cycle. Target allocations for the Domestic Plans are 60% equities, 35% fixed income and 5% cash and cash equivalents. For the Foreign Plans, allocations were previously targeted at 60% equities and 40% fixed income. However, in 2014, the Company restructured the Foreign Plans, establishing new target allocations of 30% equity and 70% fixed income in an effort to reduce plan exposure to the volatility of equity investments in favor of long-term fixed income. To attain these new target allocations, the Company has adopted a transition methodology, which uses a combination of interest rate changes and passage of time until the targeted allocation percentages are reached. | ||||||||||||||||||||||||
The fair values of domestic pension plan assets as of January 3, 2015 by asset category are (in thousands): | ||||||||||||||||||||||||
January 3, 2015 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Equity securities | $ | 35,172 | $ | — | $ | — | $ | 35,172 | ||||||||||||||||
Mutual funds | — | 9,494 | — | 9,494 | ||||||||||||||||||||
Government securities | — | 11,532 | — | 11,532 | ||||||||||||||||||||
Money funds | — | 2,390 | — | 2,390 | ||||||||||||||||||||
Cash | 43 | — | — | 43 | ||||||||||||||||||||
Total | $ | 35,215 | $ | 23,416 | $ | — | $ | 58,631 | ||||||||||||||||
The fair values of domestic pension plan assets as of December 28, 2013 by asset category are (in thousands): | ||||||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Equity securities | $ | 35,089 | $ | — | $ | — | $ | 35,089 | ||||||||||||||||
Mutual funds | — | 8,240 | — | 8,240 | ||||||||||||||||||||
Government securities | — | 9,063 | — | 9,063 | ||||||||||||||||||||
Money funds | — | 2,073 | — | 2,073 | ||||||||||||||||||||
Cash | 37 | — | — | 37 | ||||||||||||||||||||
Total | $ | 35,126 | $ | 19,376 | $ | — | $ | 54,502 | ||||||||||||||||
The fair values of foreign pension plan assets as of January 3, 2015 by asset category are (in thousands): | ||||||||||||||||||||||||
January 3, 2015 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Pooled funds | $ | — | $ | 70,420 | $ | — | $ | 70,420 | ||||||||||||||||
Cash | 2 | — | — | 2 | ||||||||||||||||||||
Total | $ | 2 | $ | 70,420 | $ | — | $ | 70,422 | ||||||||||||||||
The fair values of foreign pension plan assets as of December 28, 2013 by asset category are (in thousands): | ||||||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Pooled funds | $ | — | $ | 67,085 | $ | — | $ | 67,085 | ||||||||||||||||
Cash | 879 | — | — | 879 | ||||||||||||||||||||
Total | $ | 879 | $ | 67,085 | $ | — | $ | 67,964 | ||||||||||||||||
Equity Securities: Equity securities classified as Level 1 investments primarily include common stock of large, medium and small sized corporations and international equities. These investments are comprised of securities listed on an exchange, market or automated quotation system for which quotations are readily available. The valuation of these securities was determined based on the closing price reported on the active market on which the individual securities were traded. | ||||||||||||||||||||||||
Mutual Funds and Government Securities: Mutual funds and government securities classified as Level 2 investments primarily include government debt securities and bonds. The valuation of investments classified as Level 2 was determined using a market approach based upon quoted prices for similar assets and liabilities in active markets based on pricing models which incorporate information from market sources and observed market movements. | ||||||||||||||||||||||||
Money Funds: Money funds classified as Level 2 investments seek to maintain the net asset value (“NAV”) per share at $1.00. Money funds are valued under the amortized cost method which approximates current market value. Under this method, the securities are valued at cost when purchased and thereafter, a constant proportionate amortization of any discount or premium is recorded until the maturity of the security. | ||||||||||||||||||||||||
Pooled Funds: Pooled funds held by the Company’s foreign plans are classified as Level 2 investments and are reported at their NAV. These pooled funds use the close or last trade price as fair value of the investments to determine the daily transactional NAV for purchases and redemptions by its unit holders as determined by the fund’s trustee based on the underlying securities in the fund. | ||||||||||||||||||||||||
Estimated future benefit payments are as follows (in thousands): | ||||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||
Domestic | Foreign | Gross | Medicare Prescription Drug Subsidy | |||||||||||||||||||||
Plans | Plans | |||||||||||||||||||||||
2015 | $ | 3,527 | $ | 3,083 | $ | 462 | $ | (33 | ) | |||||||||||||||
2016 | 3,635 | 3,417 | 433 | (32 | ) | |||||||||||||||||||
2017 | 3,785 | 3,431 | 410 | (31 | ) | |||||||||||||||||||
2018 | 3,923 | 3,389 | 382 | (31 | ) | |||||||||||||||||||
2019 | 4,150 | 3,590 | 366 | (30 | ) | |||||||||||||||||||
2020 — 2024 | 23,175 | 20,580 | 1,515 | (131 | ) | |||||||||||||||||||
The Company expects to make $3.1 million, $4.7 million and $0.5 million in contributions to the Domestic Plans, Foreign Plans and OPEB Plans, respectively, in 2015. Although a decline in market conditions, changes in current pension law and uncertainties regarding significant assumptions used in the actuarial valuations may have a material impact on future required contributions to the Company’s pension plans, the Company currently does not expect funding requirements to have a material adverse impact on current or future liquidity. | ||||||||||||||||||||||||
Actuarial valuations require significant estimates and assumptions made by management, primarily the funding interest rate, discount rate and expected long-term return on plan assets. These assumptions are all susceptible to changes in market conditions. The funding interest rate and discount rate are based on representative bond yield curves maintained and monitored by an independent third party. In determining the expected long-term rate of return on plan assets, the Company considers historical market and portfolio rates of return, asset allocations and expectations of future rates of return. |
Lease_Commitments
Lease Commitments | 12 Months Ended | |||
Jan. 03, 2015 | ||||
Leases [Abstract] | ||||
Leases of Lessee Disclosure [Text Block] | LEASE COMMITMENTS | |||
Commitments for future minimum lease payments under non-cancelable operating leases, principally for manufacturing and distribution facilities and certain equipment, are as follows (in thousands): | ||||
2015 | $ | 34,709 | ||
2016 | 28,593 | |||
2017 | 23,575 | |||
2018 | 18,580 | |||
2019 | 13,441 | |||
Thereafter | 14,361 | |||
Total future minimum lease payments | $ | 133,259 | ||
Lease expense was $39.2 million, $39.8 million, and $40.1 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. The Company’s facility lease agreements typically contain renewal options. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 28, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES |
The Company is involved from time to time in litigation arising in the ordinary course of business, none of which, individually or in the aggregate, after giving effect to its existing insurance coverage, is expected to have a material adverse effect on its financial position, results of operations or liquidity. | |
From time to time, the Company is also involved in proceedings and potential proceedings relating to environmental, product liability and other matters, the claims of which are administered by the Company in the ordinary course of business. The Company maintains pollution and remediation insurance, as well as product liability insurance to provide coverage for these types of claims. Although it is difficult to estimate the Company’s potential exposure to these matters, the Company believes that the resolution of such matters will not have a material adverse effect on its financial position, results of operations or liquidity. | |
Environmental Claims | |
The Woodbridge, New Jersey facility is currently the subject of an investigation and/or remediation before the New Jersey Department of Environmental Protection (“NJDEP”) under ISRA Case No. E20030110 for the Company’s wholly owned subsidiary Gentek Building Products, Inc. (“Gentek”). The facility is currently leased by Gentek. Previous operations at the facility resulted in soil and groundwater contamination in certain areas of the property. In 1999, the property owner and Gentek signed a remediation agreement with NJDEP, pursuant to which the property owner and Gentek agreed to continue an investigation/remediation that had been commenced pursuant to a Memorandum of Agreement with NJDEP. Under the remediation agreement, NJDEP required posting of a remediation funding source of $0.1 million that was provided by Gentek under a self-guarantee as of December 31, 2011. In March 2012, the self-guarantee was replaced by a $0.2 million standby letter of credit provided to the NJDEP, which was increased to $0.3 million in May 2013. During 2014, the Company completed the delineation studies and in early 2015 was presented with several remedial plans. Based on the alternatives presented, the Company identified what it believed to be the most likely option and recorded the minimum liability for that option, which totaled $1.0 million as of January 3, 2015. The Company believes this matter will not have a material adverse effect on the Company’s financial position, results of operations or liquidity. | |
Product Liability Claims | |
On September 20, 2010, the Company and Gentek were named as defendants in an action filed in the United States District Court for the Northern District of Ohio, captioned Donald Eliason, et al. v. Gentek Building Products, Inc., et al (the “Eliason complaint”). The complaint was filed by a number of individual plaintiffs on behalf of themselves and a putative nationwide class of owners of steel and aluminum siding products manufactured by the Company and Gentek or their predecessors. The plaintiffs asserted a breach of express and implied warranty, along with related causes of action, claiming that an unspecified defect in the siding causes paint to peel off the metal and that the Company and Gentek failed adequately to honor their warranty obligations to repair, replace or refinish the defective siding. Plaintiffs sought unspecified actual and punitive damages, restitution of monies paid to the defendants and an injunction against the claimed unlawful practices, together with attorneys’ fees, costs and interest. The Eliason complaint was refiled in the Northern District of Ohio and subsequently consolidated with a number of other then-pending actions. | |
On February 13, 2013, the Company entered into a Settlement Agreement and Release of Claims (the “Settlement”) with the named plaintiffs. A preliminary approval hearing was held by the Court on March 4, 2013, and the Settlement was preliminarily approved by the Court on March 5, 2013. On August 1, 2013, following a fairness hearing, the Court issued a final judgment and order approving the Settlement (“Final Judgment and Order”). The Settlement became effective on September 2, 2013 when the time period for appealing the Final Judgment and Order ended. | |
The Settlement provides for the certification of a class for settlement purposes only of commercial and residential property owners who purchased steel siding manufactured and warranted by the Company during the period January 1, 1991 to March 15, 2013 (the date on which notice of the Settlement was first sent to settlement class members) and whose siding allegedly experienced “Steel Peel,” which is characterized for the purposes of settlement by the separation of any layer of the finish on the steel siding from the steel siding itself. Subject to the terms and conditions of the Settlement, the Company has agreed that (1) the first time an eligible settlement class member submits a valid Steel Peel warranty claim for siding, the Company will, at its option, repair or replace the siding or, at such class member’s option, make a cash settlement payment to such class member equal to the cost to the Company of the repair or replacement option selected by the Company; (2) the second time such class member submits a valid Steel Peel warranty claim for the same siding, the same options will be available; and (3) the third time such a claim is submitted, such class member may elect to have the Company either refinish or replace the siding or may elect to receive a one-time $8,000 payment. If the $8,000 payment option is chosen, the Company will have no further obligation to such class member in connection with the warranty. | |
Under the Settlement, the Company agreed to pay the sum of $2.5 million to compensate class counsel for attorneys’ fees and litigation expenses incurred and to be incurred in connection with the lawsuit. The Company also paid $0.6 million associated with executing the notice provisions of the Settlement. The Company recognized settlement costs related to the attorneys’ fees and notice costs as of December 29, 2012. The Company expects to incur additional warranty costs associated with the Settlement; however, the Company does not believe the incremental costs have been or will be material. |
Business_Segments
Business Segments | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Segment Reporting [Abstract] | ||||||||||||
Segment Reporting Disclosure [Text Block] | BUSINESS SEGMENTS | |||||||||||
The Company is in the business of manufacturing and distributing exterior residential building products. The Company has a single operating segment and a single reportable segment. The Company’s chief operating decision maker is considered to be the Chief Executive Officer. The chief operating decision maker allocates resources and assesses performance of the business and other activities at the single operating segment level. | ||||||||||||
The following table sets forth a summary of net sales by principal product offering (in thousands): | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | December 29, 2012 | ||||||||||
2015 | ||||||||||||
Vinyl windows | $ | 401,550 | $ | 369,869 | $ | 357,267 | ||||||
Vinyl siding products | 213,949 | 216,872 | 227,374 | |||||||||
Metal products | 155,464 | 166,602 | 174,111 | |||||||||
Third-party manufactured products | 296,927 | 314,408 | 302,966 | |||||||||
Other products and services | 119,083 | 101,847 | 80,803 | |||||||||
$ | 1,186,973 | $ | 1,169,598 | $ | 1,142,521 | |||||||
The Company operates principally in the U.S. and Canada. Net sales and long-lived assets by country were determined based on the location of the selling subsidiary as follows (in thousands): | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | December 29, 2012 | ||||||||||
2015 | ||||||||||||
Net Sales: | ||||||||||||
United States | $ | 965,739 | $ | 950,977 | $ | 904,791 | ||||||
Canada | 221,234 | 218,621 | 237,730 | |||||||||
$ | 1,186,973 | $ | 1,169,598 | $ | 1,142,521 | |||||||
January 3, | December 28, 2013 | |||||||||||
2015 | ||||||||||||
Long-lived Assets: | ||||||||||||
United States | $ | 64,451 | $ | 66,922 | ||||||||
Canada | 29,449 | 34,023 | ||||||||||
$ | 93,900 | $ | 100,945 | |||||||||
Subsidiary_Guarantors
Subsidiary Guarantors | 12 Months Ended | |||||||||||||||||||||||||||||||
Jan. 03, 2015 | ||||||||||||||||||||||||||||||||
Subsidiary Guarantors [Abstract] | ||||||||||||||||||||||||||||||||
Subisidiary Guarantors [Text Block] | SUBSIDIARY GUARANTORS | |||||||||||||||||||||||||||||||
The Company’s payment obligations under its 9.125% notes are fully and unconditionally guaranteed, jointly and severally, on a senior basis, by its domestic 100% owned subsidiaries, Gentek Holdings, LLC and Gentek Building Products, Inc. AMH New Finance, Inc. is a co-issuer of the 9.125% notes and is a domestic 100% owned subsidiary of the Company having no operations, revenues or cash flows for the periods presented. | ||||||||||||||||||||||||||||||||
Associated Materials Canada Limited, Gentek Canada Holdings Limited and Gentek Buildings Products Limited Partnership are Canadian companies and do not guarantee the Company’s 9.125% notes. In the opinion of management, separate financial statements of the respective Subsidiary Guarantors would not provide additional material information that would be useful in assessing the financial composition of the Subsidiary Guarantors. | ||||||||||||||||||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||||||
January 3, 2015 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 5,933 | $ | — | $ | — | $ | 30 | $ | — | $ | 5,963 | ||||||||||||||||||||
Accounts receivable, net | 98,945 | — | 6,411 | 19,765 | — | 125,121 | ||||||||||||||||||||||||||
Intercompany receivables | 356,421 | — | 61,740 | 1,794 | (419,955 | ) | — | |||||||||||||||||||||||||
Inventories | 100,487 | — | 10,969 | 34,076 | — | 145,532 | ||||||||||||||||||||||||||
Income taxes receivable | — | — | 144 | — | — | 144 | ||||||||||||||||||||||||||
Deferred income taxes | 487 | — | 1,952 | — | — | 2,439 | ||||||||||||||||||||||||||
Prepaid expenses and other current assets | 13,422 | — | 996 | 1,441 | — | 15,859 | ||||||||||||||||||||||||||
Total current assets | 575,695 | — | 82,212 | 57,106 | (419,955 | ) | 295,058 | |||||||||||||||||||||||||
Property, plant and equipment, net | 62,977 | — | 1,474 | 29,449 | — | 93,900 | ||||||||||||||||||||||||||
Goodwill | 203,841 | — | 16,713 | 96,703 | — | 317,257 | ||||||||||||||||||||||||||
Other intangible assets, net | 305,127 | — | 33,084 | 99,089 | — | 437,300 | ||||||||||||||||||||||||||
Intercompany receivable | — | 834,004 | — | — | (834,004 | ) | — | |||||||||||||||||||||||||
Other assets | 17,246 | — | 45 | 1,371 | — | 18,662 | ||||||||||||||||||||||||||
Total assets | $ | 1,164,886 | $ | 834,004 | $ | 133,528 | $ | 283,718 | $ | (1,253,959 | ) | $ | 1,162,177 | |||||||||||||||||||
LIABILITIES AND MEMBER'S DEFICIT | ||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||
Accounts payable | $ | 67,160 | $ | — | $ | 6,679 | $ | 20,929 | $ | — | $ | 94,768 | ||||||||||||||||||||
Intercompany payables | 1,794 | — | — | 418,161 | (419,955 | ) | — | |||||||||||||||||||||||||
Accrued liabilities | 70,439 | — | 4,683 | 6,612 | — | 81,734 | ||||||||||||||||||||||||||
Deferred income taxes | — | — | — | 1,292 | — | 1,292 | ||||||||||||||||||||||||||
Income taxes payable | 46 | — | — | 1,736 | — | 1,782 | ||||||||||||||||||||||||||
Total current liabilities | 139,439 | — | 11,362 | 448,730 | (419,955 | ) | 179,576 | |||||||||||||||||||||||||
Deferred income taxes | 51,012 | — | 13,295 | 24,023 | — | 88,330 | ||||||||||||||||||||||||||
Other liabilities | 84,048 | — | 22,395 | 22,573 | — | 129,016 | ||||||||||||||||||||||||||
Deficit in subsidiaries | 128,532 | — | 215,008 | — | (343,540 | ) | — | |||||||||||||||||||||||||
Long-term debt | 900,004 | 834,004 | — | 3,400 | (834,004 | ) | 903,404 | |||||||||||||||||||||||||
Member’s deficit | (138,149 | ) | — | (128,532 | ) | (215,008 | ) | 343,540 | (138,149 | ) | ||||||||||||||||||||||
Total liabilities and member’s deficit | $ | 1,164,886 | $ | 834,004 | $ | 133,528 | $ | 283,718 | $ | (1,253,959 | ) | $ | 1,162,177 | |||||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS | ||||||||||||||||||||||||||||||||
For The Year Ended January 3, 2015 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
Net sales | $ | 933,837 | $ | — | $ | 155,953 | $ | 276,822 | $ | (179,639 | ) | $ | 1,186,973 | |||||||||||||||||||
Cost of sales | 758,858 | — | 143,315 | 220,885 | (179,639 | ) | 943,419 | |||||||||||||||||||||||||
Gross profit | 174,979 | — | 12,638 | 55,937 | — | 243,554 | ||||||||||||||||||||||||||
Selling, general and administrative expenses | 198,967 | — | 4,678 | 43,638 | — | 247,283 | ||||||||||||||||||||||||||
Impairment of goodwill | 96,801 | — | 8,850 | 38,508 | — | 144,159 | ||||||||||||||||||||||||||
Impairment of other intangible assets | 54,600 | — | 11,721 | 23,366 | — | 89,687 | ||||||||||||||||||||||||||
Loss from operations | (175,389 | ) | — | (12,611 | ) | (49,575 | ) | — | (237,575 | ) | ||||||||||||||||||||||
Interest expense, net | 80,991 | — | — | 1,536 | — | 82,527 | ||||||||||||||||||||||||||
Foreign currency loss | — | — | — | 788 | — | 788 | ||||||||||||||||||||||||||
Loss before income taxes | (256,380 | ) | — | (12,611 | ) | (51,899 | ) | — | (320,890 | ) | ||||||||||||||||||||||
Income tax benefit | (23,340 | ) | — | (587 | ) | (3,274 | ) | — | (27,201 | ) | ||||||||||||||||||||||
Loss before equity loss from subsidiaries | (233,040 | ) | — | (12,024 | ) | (48,625 | ) | — | (293,689 | ) | ||||||||||||||||||||||
Equity loss from subsidiaries | (60,649 | ) | — | (48,625 | ) | — | 109,274 | — | ||||||||||||||||||||||||
Net loss | $ | (293,689 | ) | $ | — | $ | (60,649 | ) | $ | (48,625 | ) | $ | 109,274 | $ | (293,689 | ) | ||||||||||||||||
Other comprehensive loss: | ||||||||||||||||||||||||||||||||
Pension and other postretirement benefit adjustments, net of tax | (20,268 | ) | — | (8,252 | ) | (5,889 | ) | 14,141 | (20,268 | ) | ||||||||||||||||||||||
Foreign currency translation adjustments, net of tax | (22,439 | ) | — | (22,439 | ) | (22,439 | ) | 44,878 | (22,439 | ) | ||||||||||||||||||||||
Total comprehensive loss | $ | (336,396 | ) | $ | — | $ | (91,340 | ) | $ | (76,953 | ) | $ | 168,293 | $ | (336,396 | ) | ||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||||||
For The Year Ended January 3, 2015 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (77,627 | ) | $ | — | $ | 15,075 | $ | (8,413 | ) | $ | — | $ | (70,965 | ) | |||||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||
Capital expenditures | (11,321 | ) | — | (276 | ) | (1,255 | ) | — | (12,852 | ) | ||||||||||||||||||||||
Proceeds from the sale of assets | 16 | — | — | 3 | — | 19 | ||||||||||||||||||||||||||
Payments on loans to affiliates | — | — | (14,799 | ) | — | 14,799 | — | |||||||||||||||||||||||||
Receipts on loans to affiliates | 6,500 | — | — | — | (6,500 | ) | — | |||||||||||||||||||||||||
Net cash used in investing activities | (4,805 | ) | — | (15,075 | ) | (1,252 | ) | 8,299 | (12,833 | ) | ||||||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||
Borrowings under ABL facilities | 156,700 | — | — | 83,522 | — | 240,222 | ||||||||||||||||||||||||||
Payments under ABL facilities | (90,700 | ) | — | — | (80,110 | ) | — | (170,810 | ) | |||||||||||||||||||||||
Borrowings from affiliates | 14,799 | — | — | — | (14,799 | ) | — | |||||||||||||||||||||||||
Repayments to affiliates | — | — | — | (6,500 | ) | 6,500 | — | |||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 80,799 | — | — | (3,088 | ) | (8,299 | ) | 69,412 | ||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (466 | ) | — | (466 | ) | ||||||||||||||||||||||||
Decrease in cash and cash equivalents | (1,633 | ) | — | — | (13,219 | ) | — | (14,852 | ) | |||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 7,566 | — | — | 13,249 | — | 20,815 | ||||||||||||||||||||||||||
Cash and cash equivalents at end of year | $ | 5,933 | $ | — | $ | — | $ | 30 | $ | — | $ | 5,963 | ||||||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 7,566 | $ | — | $ | — | $ | 13,249 | $ | — | $ | 20,815 | ||||||||||||||||||||
Accounts receivable, net | 96,265 | — | 9,858 | 19,140 | — | 125,263 | ||||||||||||||||||||||||||
Intercompany receivables | 374,444 | — | 57,711 | 1,794 | (433,949 | ) | — | |||||||||||||||||||||||||
Inventories | 93,175 | — | 10,117 | 30,177 | — | 133,469 | ||||||||||||||||||||||||||
Income taxes receivable | — | — | 792 | — | — | 792 | ||||||||||||||||||||||||||
Deferred income taxes | 2,451 | — | 2,234 | — | — | 4,685 | ||||||||||||||||||||||||||
Prepaid expenses and other current assets | 8,239 | — | 891 | 1,712 | — | 10,842 | ||||||||||||||||||||||||||
Total current assets | 582,140 | — | 81,603 | 66,072 | (433,949 | ) | 295,866 | |||||||||||||||||||||||||
Property, plant and equipment, net | 65,348 | — | 1,574 | 34,023 | — | 100,945 | ||||||||||||||||||||||||||
Goodwill | 300,642 | — | 24,650 | 146,499 | — | 471,791 | ||||||||||||||||||||||||||
Other intangible assets, net | 379,740 | — | 44,654 | 138,830 | — | 563,224 | ||||||||||||||||||||||||||
Intercompany receivable | — | 835,230 | — | — | (835,230 | ) | — | |||||||||||||||||||||||||
Other assets | 22,926 | — | — | 1,867 | — | 24,793 | ||||||||||||||||||||||||||
Total assets | $ | 1,350,796 | $ | 835,230 | $ | 152,481 | $ | 387,291 | $ | (1,269,179 | ) | $ | 1,456,619 | |||||||||||||||||||
LIABILITIES AND MEMBER'S EQUITY | ||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||
Accounts payable | $ | 64,272 | $ | — | $ | 9,531 | $ | 23,171 | $ | — | $ | 96,974 | ||||||||||||||||||||
Intercompany payables | 1,794 | — | — | 432,155 | (433,949 | ) | — | |||||||||||||||||||||||||
Accrued liabilities | 63,534 | — | 6,392 | 8,256 | — | 78,182 | ||||||||||||||||||||||||||
Deferred income taxes | — | — | — | 2,441 | — | 2,441 | ||||||||||||||||||||||||||
Income taxes payable | 452 | — | — | 1,687 | — | 2,139 | ||||||||||||||||||||||||||
Total current liabilities | 130,052 | — | 15,923 | 467,710 | (433,949 | ) | 179,736 | |||||||||||||||||||||||||
Deferred income taxes | 73,862 | — | 16,620 | 35,722 | — | 126,204 | ||||||||||||||||||||||||||
Other liabilities | 76,668 | — | 20,588 | 20,403 | — | 117,659 | ||||||||||||||||||||||||||
Deficit in subsidiaries | 37,194 | — | 136,544 | — | (173,738 | ) | — | |||||||||||||||||||||||||
Long-term debt | 835,230 | 835,230 | — | — | (835,230 | ) | 835,230 | |||||||||||||||||||||||||
Member’s equity | 197,790 | — | (37,194 | ) | (136,544 | ) | 173,738 | 197,790 | ||||||||||||||||||||||||
Total liabilities and member’s equity | $ | 1,350,796 | $ | 835,230 | $ | 152,481 | $ | 387,291 | $ | (1,269,179 | ) | $ | 1,456,619 | |||||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME | ||||||||||||||||||||||||||||||||
For The Year Ended December 28, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
Net sales | $ | 900,422 | $ | — | $ | 166,302 | $ | 263,604 | $ | (160,730 | ) | $ | 1,169,598 | |||||||||||||||||||
Cost of sales | 687,015 | — | 150,647 | 210,866 | (160,730 | ) | 887,798 | |||||||||||||||||||||||||
Gross profit | 213,407 | — | 15,655 | 52,738 | — | 281,800 | ||||||||||||||||||||||||||
Selling, general and administrative expenses | 183,250 | — | 5,281 | 43,750 | — | 232,281 | ||||||||||||||||||||||||||
Income from operations | 30,157 | — | 10,374 | 8,988 | — | 49,519 | ||||||||||||||||||||||||||
Interest expense, net | 77,681 | — | — | 2,070 | — | 79,751 | ||||||||||||||||||||||||||
Foreign currency loss | — | — | — | 754 | — | 754 | ||||||||||||||||||||||||||
(Loss) income before income taxes | (47,524 | ) | — | 10,374 | 6,164 | — | (30,986 | ) | ||||||||||||||||||||||||
Income tax (benefit) expense | (1,882 | ) | — | 1,668 | 2,721 | — | 2,507 | |||||||||||||||||||||||||
(Loss) income before equity income from subsidiaries | (45,642 | ) | — | 8,706 | 3,443 | — | (33,493 | ) | ||||||||||||||||||||||||
Equity income from subsidiaries | 12,149 | — | 3,443 | — | (15,592 | ) | — | |||||||||||||||||||||||||
Net (loss) income | $ | (33,493 | ) | $ | — | $ | 12,149 | $ | 3,443 | $ | (15,592 | ) | $ | (33,493 | ) | |||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||||||||||
Pension and other postretirement benefit adjustments, net of tax | 19,774 | — | 9,666 | 7,594 | (17,260 | ) | 19,774 | |||||||||||||||||||||||||
Foreign currency translation adjustments, net of tax | (20,443 | ) | — | (20,443 | ) | (20,443 | ) | 40,886 | (20,443 | ) | ||||||||||||||||||||||
Total comprehensive (loss) income | $ | (34,162 | ) | $ | — | $ | 1,372 | $ | (9,406 | ) | $ | 8,034 | $ | (34,162 | ) | |||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||||||
For The Year Ended December 28, 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 2,063 | $ | — | $ | (14,211 | ) | $ | 12,401 | $ | — | $ | 253 | |||||||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||
Capital expenditures | (10,926 | ) | — | (56 | ) | (720 | ) | — | (11,702 | ) | ||||||||||||||||||||||
Proceeds from the sale of assets | 56 | — | — | 4 | — | 60 | ||||||||||||||||||||||||||
Supply Center acquisition | (348 | ) | — | — | — | — | (348 | ) | ||||||||||||||||||||||||
Payments on loans to affiliates | (20,000 | ) | — | — | — | 20,000 | — | |||||||||||||||||||||||||
Receipts on loans to affiliates | 11,500 | — | 14,267 | — | (25,767 | ) | — | |||||||||||||||||||||||||
Net cash (used in) provided by investing activities | (19,718 | ) | — | 14,211 | (716 | ) | (5,767 | ) | (11,990 | ) | ||||||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||
Borrowings under ABL facilities | 99,891 | — | — | 48,970 | — | 148,861 | ||||||||||||||||||||||||||
Payments under ABL facilities | (169,391 | ) | — | — | (57,470 | ) | — | (226,861 | ) | |||||||||||||||||||||||
Borrowings from affiliates | — | — | — | 20,000 | (20,000 | ) | — | |||||||||||||||||||||||||
Repayments to affiliates | (14,267 | ) | — | — | (11,500 | ) | 25,767 | — | ||||||||||||||||||||||||
Equity contribution from parent | 742 | — | — | — | — | 742 | ||||||||||||||||||||||||||
Issuance of Senior Secured Notes | 106,000 | — | — | — | — | 106,000 | ||||||||||||||||||||||||||
Financing costs | (5,074 | ) | — | — | (475 | ) | — | (5,549 | ) | |||||||||||||||||||||||
Net cash provided by (used in) financing activities | 17,901 | — | — | (475 | ) | 5,767 | 23,193 | |||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (235 | ) | — | (235 | ) | ||||||||||||||||||||||||
Increase in cash and cash equivalents | 246 | — | — | 10,975 | — | 11,221 | ||||||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 7,320 | — | — | 2,274 | — | 9,594 | ||||||||||||||||||||||||||
Cash and cash equivalents at end of year | $ | 7,566 | $ | — | $ | — | $ | 13,249 | $ | — | $ | 20,815 | ||||||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME | ||||||||||||||||||||||||||||||||
For The Year Ended December 29, 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
Net sales | $ | 861,092 | $ | — | $ | 169,610 | $ | 279,464 | $ | (167,645 | ) | $ | 1,142,521 | |||||||||||||||||||
Cost of sales | 649,672 | — | 155,262 | 222,328 | (167,645 | ) | 859,617 | |||||||||||||||||||||||||
Gross profit | 211,420 | — | 14,348 | 57,136 | — | 282,904 | ||||||||||||||||||||||||||
Selling, general and administrative expenses | 184,840 | — | 9,922 | 45,265 | — | 240,027 | ||||||||||||||||||||||||||
Income from operations | 26,580 | — | 4,426 | 11,871 | — | 42,877 | ||||||||||||||||||||||||||
Interest expense, net | 73,761 | — | — | 1,759 | — | 75,520 | ||||||||||||||||||||||||||
Foreign currency loss | — | — | — | 119 | — | 119 | ||||||||||||||||||||||||||
(Loss) income before income taxes | (47,181 | ) | — | 4,426 | 9,993 | — | (32,762 | ) | ||||||||||||||||||||||||
Income tax (benefit) expense | (9,828 | ) | — | 12,120 | 3,313 | — | 5,605 | |||||||||||||||||||||||||
(Loss) income before equity (loss) income from subsidiaries | (37,353 | ) | — | (7,694 | ) | 6,680 | — | (38,367 | ) | |||||||||||||||||||||||
Equity (loss) income from subsidiaries | (1,014 | ) | — | 6,680 | — | (5,666 | ) | — | ||||||||||||||||||||||||
Net (loss) income | $ | (38,367 | ) | $ | — | $ | (1,014 | ) | $ | 6,680 | $ | (5,666 | ) | $ | (38,367 | ) | ||||||||||||||||
Other comprehensive (loss) income: | ||||||||||||||||||||||||||||||||
Pension and other postretirement benefit adjustments, net of tax | (9,446 | ) | — | (6,481 | ) | (5,909 | ) | 12,390 | (9,446 | ) | ||||||||||||||||||||||
Foreign currency translation adjustments, net of tax | 8,228 | — | 8,228 | 8,228 | (16,456 | ) | 8,228 | |||||||||||||||||||||||||
Total comprehensive (loss) income | $ | (39,585 | ) | $ | — | $ | 733 | $ | 8,999 | $ | (9,732 | ) | $ | (39,585 | ) | |||||||||||||||||
ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||||||
For The Year Ended December 29, 2012 | ||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (5,869 | ) | $ | — | $ | (9,514 | ) | $ | 14,794 | $ | — | $ | (589 | ) | |||||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||
Capital expenditures | (4,335 | ) | — | (68 | ) | (968 | ) | — | (5,371 | ) | ||||||||||||||||||||||
Proceeds from sale of assets | 90 | — | 1 | 3 | — | 94 | ||||||||||||||||||||||||||
Payments on loans to affiliates | — | — | — | (18,000 | ) | 18,000 | — | |||||||||||||||||||||||||
Receipts on loans to affiliates | — | — | 6,792 | 53,000 | (59,792 | ) | — | |||||||||||||||||||||||||
Net cash (used in) provided by investing activities | (4,245 | ) | — | 6,725 | 34,035 | (41,792 | ) | (5,277 | ) | |||||||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||
Borrowings under ABL facilities | 116,100 | — | — | 92,371 | — | 208,471 | ||||||||||||||||||||||||||
Payments under ABL facilities | (117,600 | ) | — | — | (86,571 | ) | — | (204,171 | ) | |||||||||||||||||||||||
Borrowings from affiliates | 18,000 | — | — | — | (18,000 | ) | — | |||||||||||||||||||||||||
Repayments to affiliates | (6,792 | ) | — | (53,000 | ) | — | 59,792 | — | ||||||||||||||||||||||||
Dividends paid | — | — | 55,789 | (55,789 | ) | — | — | |||||||||||||||||||||||||
Equity contribution from parent | 80 | — | — | — | — | 80 | ||||||||||||||||||||||||||
Financing costs | (209 | ) | — | — | (16 | ) | — | (225 | ) | |||||||||||||||||||||||
Net cash provided by (used in) financing activities | 9,579 | — | 2,789 | (50,005 | ) | 41,792 | 4,155 | |||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (69 | ) | — | (69 | ) | ||||||||||||||||||||||||
Decrease in cash and cash equivalents | (535 | ) | — | — | (1,245 | ) | — | (1,780 | ) | |||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 7,855 | — | — | 3,519 | — | 11,374 | ||||||||||||||||||||||||||
Cash and cash equivalents at end of year | $ | 7,320 | $ | — | $ | — | $ | 2,274 | $ | — | $ | 9,594 | ||||||||||||||||||||
The condensed consolidating statement of cash flows for the years ended December 28, 2013 and December 29, 2012 have been revised to present changes in receivable from or payable to an affiliate, which resulted from deposits in and withdrawals from the Company’s cash account by its subsidiary, under a centralized cash management arrangement, and loan payments and receipts between the Company’s subsidiaries within investing and financing activities. Changes in receivable from or payable to an affiliate related to trade transactions are presented within operating activities. The Company previously reported all changes in receivable from and payable to an affiliate as cash flows in financing activities. The effect is summarized as follows (in thousands): | ||||||||||||||||||||||||||||||||
Year Ended December 28, 2013 | ||||||||||||||||||||||||||||||||
Company (As Previously Reported) | Company (As Corrected) | Subsidiary Guarantors (As Previously Reported) | Subsidiary Guarantors (As Corrected) | Non-Guarantor Subsidiary (As Previously Reported) | Non-Guarantor Subsidiary (As Corrected) | Eliminations (As Previously Reported) | Eliminations (As Corrected) | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (12,204 | ) | $ | 2,063 | $ | 56 | $ | (14,211 | ) | $ | 12,401 | $ | 12,401 | $ | — | $ | — | ||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||
Payments on loans to affiliates | — | (20,000 | ) | — | — | — | — | — | 20,000 | |||||||||||||||||||||||
Receipts on loans to affiliates | — | 11,500 | — | 14,267 | — | — | — | (25,767 | ) | |||||||||||||||||||||||
Net cash (used in) provided by investing activities | (11,218 | ) | (19,718 | ) | (56 | ) | 14,211 | (716 | ) | (716 | ) | — | (5,767 | ) | ||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||
Borrowings from affiliates | — | — | — | — | — | 20,000 | — | (20,000 | ) | |||||||||||||||||||||||
Repayments to affiliates | — | (14,267 | ) | — | — | — | (11,500 | ) | — | 25,767 | ||||||||||||||||||||||
Intercompany transactions | (8,500 | ) | — | — | — | 8,500 | — | — | — | |||||||||||||||||||||||
Net cash provided by (used in) financing activities | 23,668 | 17,901 | — | — | (475 | ) | (475 | ) | — | 5,767 | ||||||||||||||||||||||
Year Ended December 29, 2012 | ||||||||||||||||||||||||||||||||
Company (As Previously Reported) | Company (As Corrected) | Subsidiary Guarantors (As Previously Reported) | Subsidiary Guarantors (As Corrected) | Non-Guarantor Subsidiary (As Previously Reported) | Non-Guarantor Subsidiary (As Corrected) | Eliminations (As Previously Reported) | Eliminations (As Corrected) | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (7,641 | ) | $ | (5,869 | ) | $ | 2,724 | $ | (9,514 | ) | $ | 4,328 | $ | 14,794 | $ | — | $ | — | |||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||
Payments on loans to affiliates | — | — | — | — | — | (18,000 | ) | — | 18,000 | |||||||||||||||||||||||
Receipts on loans to affiliates | — | — | — | 6,792 | — | 53,000 | — | (59,792 | ) | |||||||||||||||||||||||
Net cash (used in) provided by investing activities | (4,245 | ) | (4,245 | ) | (67 | ) | 6,725 | (965 | ) | 34,035 | — | (41,792 | ) | |||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||
Borrowings from affiliates | — | 18,000 | — | — | — | — | — | (18,000 | ) | |||||||||||||||||||||||
Repayments to affiliates | — | (6,792 | ) | — | (53,000 | ) | — | — | — | 59,792 | ||||||||||||||||||||||
Intercompany transactions | 12,980 | — | (58,446 | ) | — | 45,466 | — | — | — | |||||||||||||||||||||||
Net cash provided by (used in) financing activities | 11,351 | 9,579 | (2,657 | ) | 2,789 | (4,539 | ) | (50,005 | ) | — | 41,792 | |||||||||||||||||||||
Accounting_Policies_Policies
Accounting Policies (Policies) | 12 Months Ended |
Jan. 03, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation [Policy Text Block] | BASIS OF PRESENTATION |
On October 13, 2010, AMH Holdings II, Inc. (“AMH II”), the then indirect parent company of the Company, completed its merger (the “Acquisition Merger”) with Carey Acquisition Corp. (“Merger Sub”), pursuant to the terms of the Agreement and Plan of Merger, dated as of September 8, 2010 (“Merger Agreement”), among Carey Investment Holdings Corp. (now known as Associated Materials Group, Inc.) (“Parent”), Carey Intermediate Holdings Corp. (now known as Associated Materials Incorporated), a 100% owned direct subsidiary of Parent (“Holdings”), Merger Sub, a wholly-owned direct subsidiary of Holdings, and AMH II, with AMH II surviving such merger as a wholly-owned direct subsidiary of Holdings. After a series of additional mergers (together with the Acquisition Merger, the “Merger”), AMH II merged with and into the Company, with the Company surviving such merger as a wholly-owned direct subsidiary of Holdings. As a result of the Merger, the Company is now an indirect wholly-owned subsidiary of Parent. Holdings and Parent do not have material assets or operations other than their direct and indirect ownership, respectively, of the membership interest of the Company. Approximately 97% of the capital stock of Parent is owned by investment funds affiliated with Hellman & Friedman LLC (such investment funds, the “H&F Investors”). | |
The Company operates on a 52/53 week fiscal year that ends on the Saturday closest to December 31st. The Company’s 2014 fiscal year that ended January 3, 2015 included 53 weeks of operations, with the additional week recorded in the fourth quarter of fiscal 2014. The Company’s 2013 and 2012 fiscal years ended on December 28, 2013 and December 29, 2012, respectively, and included 52 weeks of operations. | |
Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION |
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances are eliminated in consolidation. | |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES |
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. On an ongoing basis, the Company evaluates its estimates, including those related to recoverability of intangibles and other long-lived assets, customer programs and incentives, allowance for doubtful accounts, inventories, warranties, valuation allowances for deferred tax assets, pensions and postretirement benefits and various other allowances and accruals. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. | |
Revenue Recognition, Policy [Policy Text Block] | REVENUE RECOGNITION |
The Company primarily sells and distributes its products through two channels: direct sales from its manufacturing facilities to independent distributors and dealers and sales to contractors through its company-operated supply centers. Direct sales revenue is recognized when the Company’s manufacturing facility ships the product and title and risk of loss passes to the customer or when services have been rendered. Sales to contractors are recognized either when the contractor receives product directly from the supply center or when the supply center delivers the product to the contractor’s job site. For both direct sales to independent distributors and dealers and sales generated from the Company’s supply centers, revenue is not recognized until collectability is reasonably assured. A substantial portion of the Company’s sales is in the repair and remodel segment of the exterior residential building products industry. Therefore, vinyl windows are manufactured to specific measurement requirements received from the Company’s customers. Sales to one customer and its licensees represented approximately 14% of net sales in 2014 and approximately 13% of total net sales in each of 2013 and 2012. | |
Revenues are recorded net of estimated returns, customer incentive programs and other incentive offerings including special pricing agreements, promotions and other volume-based incentives. Revisions to these estimates are charged to income in the period in which the facts that give rise to the revision become known. For contracts involving installation, revenue recognition is dependent on the type of contract under which the Company is performing. For single-family residential contracts, revenue is recognized when the installation is complete. For multi-family residential or commercial contracts, revenue is recognized based on percentage of completion. The Company collects sales, use, and value-added taxes that are imposed by governmental authorities on and concurrent with sales to the Company’s customers. Revenues are presented net of these taxes as the obligation is included in accrued liabilities until the taxes are remitted to the appropriate taxing authorities. | |
The Company offers certain sales incentives to customers who become eligible based on the volume of purchases made during the calendar year. The sales incentive programs are considered customer volume rebates, which are typically computed as a percentage of customer sales, and in certain instances the rebate percentage may increase as customers achieve sales hurdles. Volume rebates are accrued throughout the year based on management estimates of customers’ annual sales volumes and the expected annual rebate percentage achieved. For these programs, the Company does not receive an identifiable benefit in exchange for the consideration, and therefore, the Company characterizes the volume rebate to the customer as a reduction of revenue in the Company’s Consolidated Statements of Comprehensive Loss. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH AND CASH EQUIVALENTS |
The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. | |
Receivables, Policy [Policy Text Block] | ACCOUNTS RECEIVABLE |
The Company records accounts receivable at selling prices which are fixed based on purchase orders or contractual arrangements. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The allowance for doubtful accounts is based on a review of the overall condition of accounts receivable balances and a review of significant past due accounts. If the financial condition of the Company’s customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. Account balances are charged off against the allowance for doubtful accounts after all means of collection have been exhausted and the recoverability is considered remote. Accounts receivable that are not expected to be collected within one year are reclassified as long-term accounts receivable. Long-term accounts receivable balances, net of the related allowance for doubtful accounts are included in other assets in the Consolidated Balance Sheets. See Note 3 for further information. | |
Inventory, Policy [Policy Text Block] | INVENTORIES |
Inventories are valued at the lower of cost (first-in, first-out) or market. The Company writes down its inventory for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future demand and market conditions. Fixed manufacturing overhead is allocated based on normal production capacity and abnormal manufacturing costs are recognized as period costs. See Note 4 for further information. | |
Property, Plant and Equipment, Policy [Policy Text Block] | PROPERTY, PLANT AND EQUIPMENT |
Additions to property, plant and equipment are stated at cost. The cost of maintenance and repairs to property, plant and equipment is charged to operations in the period incurred. Depreciation is computed by the straight-line method over the estimated useful lives of the assets. The estimated useful lives are approximately 20 to 30 years for buildings and improvements and 3 to 15 years for machinery and equipment. Leasehold improvements are amortized over the lesser of the lease term or the estimated life of the leasehold improvement. | |
Property, plant and equipment are reviewed for impairment in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 360, Property, Plant, and Equipment. The Company also reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to undiscounted future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. In the event that assets are held for sale, depreciation is discontinued and such assets are reported at the lower of the carrying amount or fair value, less costs to sell. See Note 5 for further information. | |
Goodwill and Intangible Assets, Policy [Policy Text Block] | GOODWILL AND OTHER INTANGIBLE ASSETS WITH INDEFINITE LIVES |
In accordance with FASB ASC Topic 350, Intangibles — Goodwill and Other, the Company evaluates the carrying value of its goodwill and other indefinite-lived intangible assets for potential impairment on an annual basis or an interim basis if there are indicators of potential impairment. As the consolidated entity represents the only component that constitutes a business for which discrete financial information is reviewed by the Company’s chief operating decision maker for the purpose of making decisions about resources to be allocated and assessing performance, the Company concludes that it has one reporting unit, which is the same as its single operating segment, and the Company performs its goodwill impairment assessment for the Company as a whole. The impairment test is conducted using an income approach. As the Company does not have a market for its equity, management performs the annual impairment analysis utilizing a discounted cash flow approach incorporating current estimates regarding performance and macroeconomic factors discounted at a weighted average cost of capital. The Company conducts its impairment test of its goodwill and other indefinite-lived intangible assets annually, at the beginning of the fourth quarter of each year, or as indicators of potential impairment arise. The resulting fair value measures used in such impairment tests incorporate significant unobservable inputs, and as such, are considered Level 3 fair value measurements. See Note 6 for further information. | |
Standard Product Warranty, Policy [Policy Text Block] | PRODUCT WARRANTY COSTS |
Consistent with industry practice, the Company provides to homeowners limited warranties on certain products, primarily related to window and siding product categories. Warranties are of varying lengths of time from the date of purchase up to and including lifetime. Warranties cover product failures such as seal failures for windows and fading and peeling for siding products, as well as manufacturing defects. The Company has various options for remedying product warranty claims including repair, refinishing or replacement of the defective product, the cost of which is directly absorbed by the Company. Warranties also become reduced under certain conditions of time and/or change in home ownership. Certain metal coating suppliers provide warranties on materials sold to the Company that mitigate the costs incurred by the Company. Reserves for future warranty costs are provided based on management’s estimates utilizing an actuarial calculation performed by an independent valuation firm that projects future remedy costs using historical data trends of claims incurred, claim payments, sales history of products to which such costs relate and other factors. See Note 9 for further information. | |
Income Tax, Policy [Policy Text Block] | INCOME TAXES |
The Company accounts for income taxes in accordance with FASB ASC Topic 740, Income Taxes (“ASC 740”). Income tax expense includes both current and deferred taxes. Deferred tax assets and liabilities may be recognized for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. ASC 740 requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Company reviews the recoverability of any tax assets recorded on the balance sheet and provides any necessary allowances as required. When an uncertain tax position meets the more-likely-than-not recognition threshold, the position is measured to determine the amount of expense and benefit to be recognized in the financial statements. No tax benefit is recognized in the financial statements for tax positions that do not meet the more-likely-than-not threshold. The Company recognizes interest and penalties related to income taxes and uncertain tax positions within income tax expense. The effect of a change to the deferred tax assets or liabilities as a result of new tax law, including tax rate changes, is recognized in the period that the tax law is enacted. See Note 12 for further information. | |
Derivatives, Policy [Policy Text Block] | DERIVATIVES AND HEDGING ACTIVITIES |
In accordance with FASB ASC Topic 815, Derivatives and Hedging, all of the Company’s derivative instruments are recognized on the balance sheet at their fair value. The Company uses techniques designed to mitigate the short-term effect of exchange rate fluctuations of the Canadian dollar on its operations by entering into foreign exchange forward contracts. The Company does not speculate in foreign currencies or derivative financial instruments. Gains or losses on foreign exchange forward contracts are recorded within foreign currency (gain) loss in the accompanying Consolidated Statements of Comprehensive Loss. At January 3, 2015, the Company was a party to foreign exchange forward contracts for Canadian dollars, the value of which was $0.1 million at such date. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | The Company accounts for equity-based payments to employees and directors, including grants of restricted stock and restricted stock unit awards, in accordance with FASB ASC Topic 718, Compensation — Stock Compensation (“ASC 718”), which requires that equity-based payments (to the extent they are compensatory) be measured and recognized in the Company’s Consolidated Statements of Comprehensive Loss using a fair value method. See Note 14 for further information. |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pension costs are developed from actuarial valuations. Inherent in these valuations are key assumptions including discount rates and expected return on plan assets. In selecting these assumptions, management considers current market conditions, including changes in interest rates and market returns on plan assets. Changes in the related pension benefit costs may occur in the future due to changes in assumptions. See Note 15 for further information. |
Lease, Policy [Policy Text Block] | LEASE OBLIGATIONS |
Lease expense for operating leases that have escalating rentals over the term of the lease is recorded on a straight-line basis over the life of the lease, which commences on the date the Company has the right to control the property. The cumulative expense recognized on a straight-line basis in excess of the cumulative payments is included in accrued liabilities and other liabilities in the Consolidated Balance Sheets. Capital improvements that may be required to make a building suitable for the Company’s use are incurred by the landlords and are made prior to the Company having control of the property (lease commencement date) and are therefore incorporated into the determination of the lease rental rate. See Note 16 for further information. | |
In connection with the Merger and the application of purchase accounting, the Company evaluated its operating leases and recorded adjustments to reflect the fair market values of its operating leases. As a result, a favorable lease asset of $0.8 million and an unfavorable lease liability of $5.0 million were recorded based on the then current market analysis. The favorable lease asset and unfavorable lease liability are being amortized over the related remaining lease terms and are reported within cost of sales and selling, general and administrative expenses (“SG&A”) in the Consolidated Statements of Comprehensive Loss beginning October 13, 2010. The unamortized balances as of January 3, 2015 for the lease asset and lease liability were $0.1 million and $2.4 million, respectively. | |
Legal Costs, Policy [Policy Text Block] | LITIGATION EXPENSES |
The Company is involved in certain legal proceedings. The Company recognizes litigation related expenses in the period in which the litigation services are provided. See Note 17 for further information. | |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | COST OF SALES AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES |
For products manufactured by the Company, cost of sales includes the cost of purchasing raw materials, net of vendor rebates, payroll and benefit costs for direct and indirect labor incurred at the Company’s manufacturing locations including purchasing, receiving and inspection, inbound freight charges, freight charges to deliver product to the Company’s supply centers, and freight charges to deliver product to the Company’s independent distributor and dealer customers. It also includes all variable and fixed costs incurred to operate and maintain the manufacturing locations and machinery and equipment, such as lease costs, repairs and maintenance, utilities and depreciation. For third-party manufactured products, which are sold through the Company’s supply centers, cost of sales includes the cost to purchase product, net of vendor rebates, as well as inbound freight charges. | |
SG&A expenses include payroll and benefit costs including incentives and commissions of its supply center employees, corporate employees and sales representatives, building lease costs of its supply centers, delivery vehicle costs and other delivery charges incurred to deliver product from its supply centers to its contractor customers, sales vehicle costs, marketing costs, customer sales rewards, other administrative expenses such as supplies, legal, accounting, consulting, travel and entertainment as well as all other costs to operate its supply centers and corporate office. The customer sales rewards programs offer customers the ability to earn points based on purchases, which can be redeemed for products or services procured through independent third-party suppliers. The costs of the rewards programs are accrued as earned throughout the year based on estimated payouts under the program. Total customer rewards costs reported as a component of SG&A expense totaled $3.9 million, $3.8 million and $4.5 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. Shipping and handling costs included in SG&A expense totaled $31.6 million, $30.8 million and $31.9 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. | |
Research and development activities are principally related to new product development and are reported within cost of sales and SG&A expenses in the Consolidated Statements of Comprehensive Loss. | |
Advertising Costs, Policy [Policy Text Block] | MARKETING AND ADVERTISING |
Marketing and advertising costs are generally expensed as incurred. Marketing and advertising expense was $11.6 million, $8.8 million and $11.0 million for the years ended January 3, 2015, December 28, 2013 and December 29, 2012, respectively. | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | FOREIGN CURRENCY TRANSLATION |
The financial position and results of operations of the Company’s Canadian subsidiary are measured using Canadian dollars as the functional currency. Assets and liabilities of the subsidiary are translated into U.S. dollars at the exchange rate in effect at each reporting period end. Income statement and cash flow amounts are translated into U.S. dollars at the average exchange rates prevailing during the year. Translation adjustments arising from the use of different exchange rates from period to period are reflected as a component of member’s (deficit) equity within accumulated other comprehensive income (loss). Gains and losses arising from transactions denominated in a currency other than Canadian dollars occurring in the Company’s Canadian subsidiary are included in foreign currency gain (loss) in the Company’s Consolidated Statements of Comprehensive Loss. | |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS |
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued and to provide certain disclosures if it concludes that substantial doubt exists. ASU 2014-15 is effective for all entities for the annual period ending after December 15, 2016, and for annual and interim periods thereafter, with early adoption permitted. The Company does not believe that the adoption of the provisions of ASU 2014-15 will have a material impact on its consolidated financial position, results of operations or cash flows. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The comprehensive new revenue recognition standard supersedes all existing revenue guidance under GAAP and international financial reporting standards. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The standard establishes the following five steps that require companies to exercise judgment when considering the terms of any contract, including all relevant facts and circumstances: | |
Step 1: Identify the contract(s) with the customer, | |
Step 2: Identify the separate performance obligations in the contract, | |
Step 3: Determine the transaction price, | |
Step 4: Allocate the transaction price to the separate performance obligations, and | |
Step 5: Recognize revenue when each performance obligation is satisfied. | |
The new standard also requires significantly more interim and annual disclosures. The new standard allows for either full retrospective or modified retrospective adoption. ASU 2014-09 is effective for fiscal years and interim periods within those years, beginning after December 15, 2016. The Company is currently assessing the potential impact of the new requirements under the standard. |
Allowance_for_Doubtful_Account1
Allowance for Doubtful Accounts (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Allowance for Doubtful Accounts [Abstract] | ||||||||||||
Allowance for Doubtful Accounts [Table Text Block] | Changes in the allowance for doubtful accounts on accounts receivable are as follows (in thousands): | |||||||||||
January 3, | December 28, | December 29, | ||||||||||
2015 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 8,692 | $ | 9,171 | $ | 7,823 | ||||||
Provision for losses | 2,138 | 1,122 | 2,420 | |||||||||
Losses sustained (net of recoveries) | (2,739 | ) | (1,601 | ) | (1,072 | ) | ||||||
Balance at end of period | $ | 8,091 | $ | 8,692 | $ | 9,171 | ||||||
Allowance for doubtful accounts on accounts receivable consists of (in thousands): | ||||||||||||
January 3, | December 28, | |||||||||||
2015 | 2013 | |||||||||||
Allowance for doubtful accounts, current | $ | 3,542 | $ | 3,198 | ||||||||
Allowance for doubtful accounts, non-current | 4,549 | 5,494 | ||||||||||
$ | 8,091 | $ | 8,692 | |||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Inventory Disclosure [Abstract] | ||||||||
Schedule of Inventory, Current [Table Text Block] | Inventories consist of (in thousands): | |||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Raw materials | $ | 29,300 | $ | 32,129 | ||||
Work in process | 16,442 | 9,356 | ||||||
Finished goods | 99,790 | 91,984 | ||||||
$ | 145,532 | $ | 133,469 | |||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment [Table Text Block] | Property, plant and equipment consist of (in thousands): | |||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Land | $ | 13,461 | $ | 14,487 | ||||
Buildings | 39,674 | 40,090 | ||||||
Machinery and equipment | 120,945 | 107,983 | ||||||
Construction in progress | 3,934 | 7,725 | ||||||
178,014 | 170,285 | |||||||
Less accumulated depreciation | 84,114 | 69,340 | ||||||
$ | 93,900 | $ | 100,945 | |||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||
Jan. 03, 2015 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||
Schedule of goodwill | hanges in the carrying amount of goodwill are as follows (in thousands): | |||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||
Balance at December 29, 2012 | $ | 482,613 | ||||||||||||||||||||||
Foreign currency translation | (10,822 | ) | ||||||||||||||||||||||
Balance at December 28, 2013 | 471,791 | |||||||||||||||||||||||
Impairment | (144,159 | ) | ||||||||||||||||||||||
Foreign currency translation | (10,375 | ) | ||||||||||||||||||||||
Balance at January 3, 2015 | $ | 317,257 | ||||||||||||||||||||||
Schedule of finite-lived intangibles and indefinite-lived intangibles | The Company’s other intangible assets consist of the following (in thousands): | |||||||||||||||||||||||
January 3, 2015 | December 28, 2013 | |||||||||||||||||||||||
Cost | Accumulated | Net | Cost | Accumulated | Net | |||||||||||||||||||
Amortization | Carrying | Amortization | Carrying | |||||||||||||||||||||
Value | Value | |||||||||||||||||||||||
Amortized customer bases | $ | 321,836 | $ | 106,655 | $ | 215,181 | $ | 327,280 | $ | 82,874 | $ | 244,406 | ||||||||||||
Amortized non-compete agreements | 20 | 16 | 4 | 20 | 11 | 9 | ||||||||||||||||||
Total amortized intangible assets | 321,856 | 106,671 | 215,185 | 327,300 | 82,885 | 244,415 | ||||||||||||||||||
Non-amortized trade names (1) | 222,115 | — | 222,115 | 318,809 | — | 318,809 | ||||||||||||||||||
Total intangible assets | $ | 543,971 | $ | 106,671 | $ | 437,300 | $ | 646,109 | $ | 82,885 | $ | 563,224 | ||||||||||||
-1 | Balances at January 3, 2015 and December 28, 2013 include impairment charges of $89.7 million recorded in 2014 and $79.9 million recorded in 2011, respectively. |
Accrued_and_Other_Liabilities_
Accrued and Other Liabilities (Tables) | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Accrued Liabilities and Other Liabilities [Abstract] | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | Accrued liabilities consist of (in thousands): | |||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Employee compensation | $ | 11,355 | $ | 14,621 | ||||
Sales promotions and incentives | 25,786 | 20,954 | ||||||
Warranty reserves | 9,312 | 9,371 | ||||||
Employee benefits | 8,828 | 7,273 | ||||||
Interest | 13,393 | 12,905 | ||||||
Taxes other than income taxes | 3,220 | 2,994 | ||||||
Other | 9,840 | 10,064 | ||||||
$ | 81,734 | $ | 78,182 | |||||
Schedule of Other Liabilities [Table Text Block] | Other liabilities consist of (in thousands): | |||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
Pensions and other postretirement plans | $ | 40,138 | $ | 25,998 | ||||
Warranty reserves | 80,628 | 83,836 | ||||||
Other | 8,250 | 7,825 | ||||||
$ | 129,016 | $ | 117,659 | |||||
Manufacturing_Restructuring_Co1
Manufacturing Restructuring Costs (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Schedule of Restructuring and Related Costs [Table Text Block] | Changes in the manufacturing restructuring liability are as follows (in thousands): | |||||||||||
January 3, | December 28, 2013 | December 29, 2012 | ||||||||||
2015 | ||||||||||||
Balance at beginning of period | $ | 2,772 | $ | 3,387 | $ | 4,086 | ||||||
Decrease | (331 | ) | — | — | ||||||||
Accretion of related lease obligations | 495 | 516 | 545 | |||||||||
Payments | (976 | ) | (1,131 | ) | (1,244 | ) | ||||||
Balance at end of period | $ | 1,960 | $ | 2,772 | $ | 3,387 | ||||||
Product_Warranty_Costs_Tables
Product Warranty Costs (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Product Warranties Disclosures [Abstract] | ||||||||||||
Schedule of Product Warranty Liability [Table Text Block] | Changes in the warranty reserve are as follows (in thousands): | |||||||||||
January 3, | December 28, | December 29, | ||||||||||
2015 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 93,207 | $ | 97,471 | $ | 101,163 | ||||||
Provision for warranties issued and changes in estimates for pre-existing warranties | 4,658 | 4,040 | 4,098 | |||||||||
Claims paid | (6,816 | ) | (7,383 | ) | (8,133 | ) | ||||||
Foreign currency translation | (1,109 | ) | (921 | ) | 343 | |||||||
Balance at end of period | $ | 89,940 | $ | 93,207 | $ | 97,471 | ||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | |||||||
Jan. 03, 2015 | ||||||||
Debt Disclosure [Abstract] | ||||||||
Schedule of long-term debt instruments | Long-term debt consists of (in thousands): | |||||||
January 3, | December 28, | |||||||
2015 | 2013 | |||||||
9.125% Senior Secured Notes | $ | 834,004 | $ | 835,230 | ||||
Borrowings under the ABL facilities | 69,400 | — | ||||||
$ | 903,404 | $ | 835,230 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Current: | ||||||||||||
Federal | $ | (14 | ) | $ | (802 | ) | $ | (107 | ) | |||
State | 16 | 657 | 328 | |||||||||
Foreign | 3,998 | 4,155 | 7,445 | |||||||||
4,000 | 4,010 | 7,666 | ||||||||||
Deferred: | ||||||||||||
Federal | (20,844 | ) | 397 | (240 | ) | |||||||
State | (3,084 | ) | (467 | ) | (478 | ) | ||||||
Foreign | (7,273 | ) | (1,433 | ) | (1,343 | ) | ||||||
(31,201 | ) | (1,503 | ) | (2,061 | ) | |||||||
Income tax (benefit) expense | $ | (27,201 | ) | $ | 2,507 | $ | 5,605 | |||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Loss before income taxes is as follows (in thousands): | |||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
U.S. | $ | (268,991 | ) | $ | (37,150 | ) | $ | (42,755 | ) | |||
Canada | (51,899 | ) | 6,164 | 9,993 | ||||||||
$ | (320,890 | ) | $ | (30,986 | ) | $ | (32,762 | ) | ||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of the Company’s deferred income taxes are as follows (in thousands): | |||||||||||
January 3, | December 28, | |||||||||||
2015 | 2013 | |||||||||||
Deferred income tax assets: | ||||||||||||
Medical benefits | $ | 1,708 | $ | 1,642 | ||||||||
Allowance for doubtful accounts | 3,278 | 3,420 | ||||||||||
Pension and other postretirement plans | 12,430 | 7,413 | ||||||||||
Inventory costs | 1,592 | 1,885 | ||||||||||
Warranty costs | 33,819 | 34,611 | ||||||||||
Net operating loss carryforwards | 162,925 | 133,783 | ||||||||||
Foreign tax credit carryforwards | 4,455 | 4,455 | ||||||||||
Accrued expenses and other | 11,437 | 11,518 | ||||||||||
Total deferred income tax assets | 231,644 | 198,727 | ||||||||||
Valuation allowance | (111,888 | ) | (74,075 | ) | ||||||||
Net deferred income tax assets | 119,756 | 124,652 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Depreciation | 15,815 | 19,151 | ||||||||||
Intangible assets | 157,546 | 200,481 | ||||||||||
Tax liability on unremitted foreign earnings | 10,496 | 1,868 | ||||||||||
Gain on debt extinguishment | 17,933 | 22,241 | ||||||||||
Other | 5,149 | 4,871 | ||||||||||
Total deferred income tax liabilities | 206,939 | 248,612 | ||||||||||
Net deferred income tax liabilities | $ | (87,183 | ) | $ | (123,960 | ) | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The reconciliation of the statutory rate to the Company’s effective income tax rate for the periods presented is as follows: | |||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Statutory rate | (35.0 | )% | (35.0 | )% | (35.0 | )% | ||||||
State income tax, net of federal income tax benefit | 0.5 | % | (2.8 | )% | (0.3 | )% | ||||||
Tax liability on remitted and unremitted foreign earnings | 2.4 | % | 16.9 | % | 12.4 | % | ||||||
Goodwill impairment | 15.7 | % | — | % | — | % | ||||||
Foreign rate differential | 0.4 | % | (1.8 | )% | (2.8 | )% | ||||||
Valuation allowance | 7.8 | % | 28.6 | % | 32.7 | % | ||||||
Foreign tax credit and withholding taxes | 0.3 | % | 0.8 | % | 7.3 | % | ||||||
Prior year assessments | 0.1 | % | 2.8 | % | — | % | ||||||
Other | (0.7 | )% | (1.4 | )% | 2.8 | % | ||||||
Effective rate | (8.5 | )% | 8.1 | % | 17.1 | % | ||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the unrecognized tax benefits for the periods presented is as follows (in thousands): | |||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Unrecognized tax benefits, beginning of year | $ | 7,040 | $ | 7,146 | $ | 7,860 | ||||||
Gross increase for tax positions of prior years | — | — | 707 | |||||||||
Gross increases for tax positions of the current year | 107 | 147 | 81 | |||||||||
Gross decreases for tax positions of prior years | (6,133 | ) | (253 | ) | (142 | ) | ||||||
Settlements | — | — | (1,360 | ) | ||||||||
Unrecognized tax benefits, end of year | $ | 1,014 | $ | 7,040 | $ | 7,146 | ||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in accumulated other comprehensive loss by component, net of tax, are as follows (in thousands): | |||||||||||
Pension and other Postretirement benefit Liability | Foreign Currency Translation | Accumulated Other Comprehensive Loss | ||||||||||
Balance at December 29, 2012 | $ | (23,287 | ) | $ | 6,040 | $ | (17,247 | ) | ||||
Other comprehensive income (loss) before reclassifications, net of tax of $2,553 | 19,151 | (20,443 | ) | (1,292 | ) | |||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax of $138 | 623 | — | 623 | |||||||||
Balance at December 28, 2013 | $ | (3,513 | ) | $ | (14,403 | ) | $ | (17,916 | ) | |||
Other comprehensive loss before reclassifications, net of tax of $2,108 | (20,241 | ) | (22,439 | ) | (42,680 | ) | ||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax of $21 | (27 | ) | — | (27 | ) | |||||||
Balance at January 3, 2015 | $ | (23,781 | ) | $ | (36,842 | ) | $ | (60,623 | ) | |||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Reclassifications out of accumulated other comprehensive loss consists of the following (in thousands): | |||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | |||||||||||
2015 | ||||||||||||
Defined Benefit Pension and Other Postretirement Plans: | ||||||||||||
Amortization of unrecognized prior service costs | $ | 28 | $ | 21 | ||||||||
Amortization of unrecognized cumulative actuarial net (gain) loss | (34 | ) | 740 | |||||||||
Total before tax | (6 | ) | 761 | |||||||||
Tax expense | 21 | 138 | ||||||||||
Net of tax | $ | (27 | ) | $ | 623 | |||||||
Stock_Plans_Stock_Plans_Tables
Stock Plans Stock Plans (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock option activity during the year ended January 3, 2015 is summarized below: | |||||||||||
Shares | Weighted | Remaining | ||||||||||
Average | Contractual | |||||||||||
Exercise Price | Term(years) | |||||||||||
Options outstanding December 28, 2013 | 4,835,438 | $ | 10.52 | |||||||||
Granted | 3,598,963 | 9.19 | ||||||||||
Exercised | — | — | ||||||||||
Forfeited | (2,931,841 | ) | 10.25 | |||||||||
Options outstanding January 3, 2015 | 5,502,560 | $ | 9.77 | 8.5 | ||||||||
Options exercisable January 3, 2015 | 1,158,541 | $ | 12.14 | 6.4 | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The weighted average assumptions and fair value of the options were as follows: | |||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||
2015 | ||||||||||||
Dividend yield | — | % | — | % | — | % | ||||||
Annual risk-free rate | 2.26 | % | 1.99 | % | 1.69 | % | ||||||
Expected life of options (years) | 8.17 | 7.19 | 8.27 | |||||||||
Volatility | 42.2 | % | 52.3 | % | 51 | % | ||||||
Weighted average fair value of options granted per share | $ | 1.95 | $ | 2.58 | $ | 1.74 | ||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | The following table summarizes the Company’s restricted stock and restricted stock unit award activity for the year ended January 3, 2015: | |||||||||||
Shares | Weighted | |||||||||||
Average Fair | ||||||||||||
Value Per Share | ||||||||||||
Nonvested at December 28, 2013 | 85,600 | $ | 4.25 | |||||||||
Granted | 62,982 | 5.61 | ||||||||||
Vested | (88,382 | ) | 5.22 | |||||||||
Forfeited | (8,000 | ) | 4.25 | |||||||||
Nonvested at January 3, 2015 | 52,200 | $ | 4.25 | |||||||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Jan. 03, 2015 | ||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The change in benefit obligation and plan assets for the Company’s defined benefit pension and OPEB plans are as follows (in thousands): | |||||||||||||||||||||||
January 3, 2015 | December 28, 2013 | |||||||||||||||||||||||
Domestic | Foreign | OPEB Plans | Domestic | Foreign | OPEB Plans | |||||||||||||||||||
Plans | Plans | Plans | Plans | |||||||||||||||||||||
Change in projected benefit obligation: | ||||||||||||||||||||||||
Projected benefit obligation at beginning of period | $ | 67,162 | $ | 76,961 | $ | 4,856 | $ | 74,223 | $ | 85,694 | $ | 6,067 | ||||||||||||
Service cost | 1,233 | 2,373 | 11 | 1,033 | 2,785 | 12 | ||||||||||||||||||
Interest cost | 3,189 | 3,616 | 186 | 2,902 | 3,769 | 185 | ||||||||||||||||||
Plan amendments | — | 133 | — | 112 | — | (51 | ) | |||||||||||||||||
Actuarial loss (gain) | 14,218 | 11,442 | 343 | (7,323 | ) | (4,322 | ) | (818 | ) | |||||||||||||||
Settlements | — | (688 | ) | — | — | (1,855 | ) | — | ||||||||||||||||
Participant contributions | — | 333 | 17 | — | 288 | 9 | ||||||||||||||||||
Benefits paid | (3,809 | ) | (3,610 | ) | (474 | ) | (3,785 | ) | (3,599 | ) | (561 | ) | ||||||||||||
Retiree drug subsidy reimbursement | — | — | 43 | — | — | 41 | ||||||||||||||||||
Effect of foreign exchange | — | (7,848 | ) | (34 | ) | — | (5,799 | ) | (28 | ) | ||||||||||||||
Projected benefit obligation at end of period | 81,993 | 82,712 | 4,948 | 67,162 | 76,961 | 4,856 | ||||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of assets at beginning of period | 54,502 | 67,964 | — | 47,922 | 61,965 | — | ||||||||||||||||||
Actual return on plan assets | 4,297 | 7,191 | — | 7,453 | 9,006 | — | ||||||||||||||||||
Settlements | — | (688 | ) | — | — | (1,855 | ) | — | ||||||||||||||||
Employer contributions | 3,641 | 5,998 | 457 | 2,912 | 6,768 | 552 | ||||||||||||||||||
Participant contributions | — | 333 | 17 | — | 288 | 9 | ||||||||||||||||||
Benefits paid | (3,809 | ) | (3,610 | ) | (474 | ) | (3,785 | ) | (3,599 | ) | (561 | ) | ||||||||||||
Effect of foreign exchange | — | (6,766 | ) | — | — | (4,609 | ) | — | ||||||||||||||||
Fair value of assets at end of period | 58,631 | 70,422 | — | 54,502 | 67,964 | — | ||||||||||||||||||
Funded status | $ | (23,362 | ) | $ | (12,290 | ) | $ | (4,948 | ) | $ | (12,660 | ) | $ | (8,997 | ) | $ | (4,856 | ) | ||||||
Accumulated Benefit Obligation | $ | 81,993 | $ | 76,472 | $ | 4,948 | $ | 67,162 | $ | 72,153 | $ | 4,856 | ||||||||||||
Schedule of Amounts Recognized in the Balance Sheet and Other Comprehensive Income (Loss) [Table Text Block] | The amounts recognized in consolidated balance sheets and other comprehensive loss (income) for the Company’s defined benefit pension and OPEB plans are as follows (in thousands): | |||||||||||||||||||||||
January 3, 2015 | December 28, 2013 | |||||||||||||||||||||||
Domestic | Foreign | OPEB Plans | Domestic | Foreign | OPEB Plans | |||||||||||||||||||
Plans | Plans | Plans | Plans | |||||||||||||||||||||
Balance sheets: | ||||||||||||||||||||||||
Accrued liabilities | $ | — | $ | — | $ | (462 | ) | $ | — | $ | — | $ | (515 | ) | ||||||||||
Other liabilities | (23,362 | ) | (12,290 | ) | (4,486 | ) | (12,660 | ) | (8,997 | ) | (4,341 | ) | ||||||||||||
Total recognized | $ | (23,362 | ) | $ | (12,290 | ) | $ | (4,948 | ) | $ | (12,660 | ) | $ | (8,997 | ) | $ | (4,856 | ) | ||||||
Accumulated other comprehensive loss (income): | ||||||||||||||||||||||||
Net actuarial loss (gain) | $ | 11,839 | $ | 12,735 | $ | (280 | ) | $ | (2,137 | ) | $ | 4,883 | $ | (712 | ) | |||||||||
Net prior service cost (credit) | 106 | 479 | (43 | ) | 116 | 380 | (51 | ) | ||||||||||||||||
Total recognized | $ | 11,945 | $ | 13,214 | $ | (323 | ) | $ | (2,021 | ) | $ | 5,263 | $ | (763 | ) | |||||||||
Schedule of Assumptions Used [Table Text Block] | The weighted average assumptions used to determine projected benefit obligation for the Company’s pension and OPEB plans are: | |||||||||||||||||||||||
January 3, | December 28, 2013 | |||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Discount rate: | ||||||||||||||||||||||||
Domestic plans | 4.02 | % | 4.81 | % | ||||||||||||||||||||
Foreign plans | 4 | % | 4.78 | % | ||||||||||||||||||||
OPEB plans | 3.69 | % | 4.25 | % | ||||||||||||||||||||
Compensation increases: | ||||||||||||||||||||||||
Domestic plans | — | % | — | % | ||||||||||||||||||||
Foreign plans | 3.5 | % | 3.5 | % | ||||||||||||||||||||
The weighted average assumptions used to determine projected net periodic benefit cost for the Company’s pension and OPEB plans are: | ||||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | December 29, | ||||||||||||||||||||||
2015 | 2012 | |||||||||||||||||||||||
Discount rate: | ||||||||||||||||||||||||
Domestic plans | 4.81 | % | 3.97 | % | 4.54 | % | ||||||||||||||||||
Foreign plans | 4.78 | % | 4.48 | % | 5.17 | % | ||||||||||||||||||
OPEB plans | 4.25 | % | 3.43 | % | 4.1 | % | ||||||||||||||||||
Long-term rate of return on assets: | ||||||||||||||||||||||||
Domestic plans | 7.5 | % | 7.5 | % | 7.5 | % | ||||||||||||||||||
Foreign plans | 6.3 | % | 6.25 | % | 6.5 | % | ||||||||||||||||||
Compensation increases: | ||||||||||||||||||||||||
Domestic plans | — | % | — | % | — | % | ||||||||||||||||||
Foreign plans | 3.5 | % | 3.5 | % | 3.5 | % | ||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | Estimated future benefit payments are as follows (in thousands): | |||||||||||||||||||||||
Pension Plans | OPEB Plans | |||||||||||||||||||||||
Domestic | Foreign | Gross | Medicare Prescription Drug Subsidy | |||||||||||||||||||||
Plans | Plans | |||||||||||||||||||||||
2015 | $ | 3,527 | $ | 3,083 | $ | 462 | $ | (33 | ) | |||||||||||||||
2016 | 3,635 | 3,417 | 433 | (32 | ) | |||||||||||||||||||
2017 | 3,785 | 3,431 | 410 | (31 | ) | |||||||||||||||||||
2018 | 3,923 | 3,389 | 382 | (31 | ) | |||||||||||||||||||
2019 | 4,150 | 3,590 | 366 | (30 | ) | |||||||||||||||||||
2020 — 2024 | 23,175 | 20,580 | 1,515 | (131 | ) | |||||||||||||||||||
Pension Plans, Defined Benefit [Member] | ||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | The components of net periodic benefit cost for the Company’s pension benefit plans are as follows (in thousands): | |||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
3-Jan-15 | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||
Plans | Plans | Plans | Plans | Plans | Plans | |||||||||||||||||||
Service cost | $ | 1,233 | $ | 2,373 | $ | 1,033 | $ | 2,785 | $ | 752 | $ | 2,421 | ||||||||||||
Interest cost | 3,189 | 3,616 | 2,902 | 3,769 | 3,056 | 3,925 | ||||||||||||||||||
Expected return on assets | (4,055 | ) | (4,275 | ) | (3,548 | ) | (3,900 | ) | (3,224 | ) | (3,726 | ) | ||||||||||||
Loss recognized due to settlements | — | 117 | — | 599 | — | — | ||||||||||||||||||
Amortization of prior service cost | 10 | 26 | 1 | 20 | — | 21 | ||||||||||||||||||
Amortization of net actuarial loss (gain) | — | 54 | 240 | 508 | 4 | 45 | ||||||||||||||||||
Net periodic benefit cost | $ | 377 | $ | 1,911 | $ | 628 | $ | 3,781 | $ | 588 | $ | 2,686 | ||||||||||||
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The components of other comprehensive loss (income) for the Company’s pension benefit plans are as follows (in thousands): | |||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
3-Jan-15 | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
Domestic | Foreign | Domestic | Foreign | Domestic | Foreign | |||||||||||||||||||
Plans | Plans | Plans | Plans | Plans | Plans | |||||||||||||||||||
Net actuarial loss (gain) | $ | 13,976 | $ | 8,023 | $ | (11,228 | ) | $ | (9,121 | ) | $ | 3,447 | $ | 8,040 | ||||||||||
Prior service cost | — | 125 | 112 | — | 5 | — | ||||||||||||||||||
Loss recognized due to settlements | — | (117 | ) | — | (599 | ) | — | — | ||||||||||||||||
Amortization of prior service cost | (10 | ) | (26 | ) | (1 | ) | (20 | ) | — | (21 | ) | |||||||||||||
Amortization of net actuarial (loss) gain | — | (54 | ) | (240 | ) | (508 | ) | (4 | ) | (45 | ) | |||||||||||||
Total recognized | $ | 13,966 | $ | 7,951 | $ | (11,357 | ) | $ | (10,248 | ) | $ | 3,448 | $ | 7,974 | ||||||||||
United States Pension Plans of US Entity, Defined Benefit [Member] | ||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | The fair values of domestic pension plan assets as of January 3, 2015 by asset category are (in thousands): | |||||||||||||||||||||||
January 3, 2015 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Equity securities | $ | 35,172 | $ | — | $ | — | $ | 35,172 | ||||||||||||||||
Mutual funds | — | 9,494 | — | 9,494 | ||||||||||||||||||||
Government securities | — | 11,532 | — | 11,532 | ||||||||||||||||||||
Money funds | — | 2,390 | — | 2,390 | ||||||||||||||||||||
Cash | 43 | — | — | 43 | ||||||||||||||||||||
Total | $ | 35,215 | $ | 23,416 | $ | — | $ | 58,631 | ||||||||||||||||
The fair values of domestic pension plan assets as of December 28, 2013 by asset category are (in thousands): | ||||||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Equity securities | $ | 35,089 | $ | — | $ | — | $ | 35,089 | ||||||||||||||||
Mutual funds | — | 8,240 | — | 8,240 | ||||||||||||||||||||
Government securities | — | 9,063 | — | 9,063 | ||||||||||||||||||||
Money funds | — | 2,073 | — | 2,073 | ||||||||||||||||||||
Cash | 37 | — | — | 37 | ||||||||||||||||||||
Total | $ | 35,126 | $ | 19,376 | $ | — | $ | 54,502 | ||||||||||||||||
Foreign Pension Plans, Defined Benefit [Member] | ||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | The fair values of foreign pension plan assets as of January 3, 2015 by asset category are (in thousands): | |||||||||||||||||||||||
January 3, 2015 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Pooled funds | $ | — | $ | 70,420 | $ | — | $ | 70,420 | ||||||||||||||||
Cash | 2 | — | — | 2 | ||||||||||||||||||||
Total | $ | 2 | $ | 70,420 | $ | — | $ | 70,422 | ||||||||||||||||
The fair values of foreign pension plan assets as of December 28, 2013 by asset category are (in thousands): | ||||||||||||||||||||||||
December 28, 2013 | ||||||||||||||||||||||||
Quoted Prices in | Significant | Significant | Total | |||||||||||||||||||||
Active Markets for | Other | Unobservable | ||||||||||||||||||||||
Identical | Observable | Inputs | ||||||||||||||||||||||
Assets | Inputs | (Level 3) | ||||||||||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||||||||||
Pooled funds | $ | — | $ | 67,085 | $ | — | $ | 67,085 | ||||||||||||||||
Cash | 879 | — | — | 879 | ||||||||||||||||||||
Total | $ | 879 | $ | 67,085 | $ | — | $ | 67,964 | ||||||||||||||||
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | The components of net periodic benefit cost for the Company’s OPEB Plans are as follows (in thousands): | |||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Service cost | $ | 11 | $ | 12 | $ | 13 | ||||||||||||||||||
Interest cost | 186 | 185 | 233 | |||||||||||||||||||||
Amortization of prior service credit | (8 | ) | — | — | ||||||||||||||||||||
Amortization of net actuarial (gain) loss | (88 | ) | (8 | ) | 1 | |||||||||||||||||||
Net periodic benefit cost | $ | 101 | $ | 189 | $ | 247 | ||||||||||||||||||
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The components of other comprehensive loss (income) for the Company’s OPEB Plans are as follows (in thousands): | |||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Net actuarial loss (gain) | $ | 342 | $ | (817 | ) | 109 | ||||||||||||||||||
Prior service credit | — | (51 | ) | — | ||||||||||||||||||||
Amortization of prior service credit | 8 | — | — | |||||||||||||||||||||
Amortization of net actuarial gain (loss) | 88 | 8 | (1 | ) | ||||||||||||||||||||
Total recognized | $ | 438 | $ | (860 | ) | 108 | ||||||||||||||||||
Schedule of Health Care Cost Trend Rates [Table Text Block] | The following table presents health care cost trend rates used to determine net periodic benefit cost for the Company’s OPEB plans, as well as information regarding the ultimate cost trend and the year in which their ultimate rate is reached: | |||||||||||||||||||||||
Years Ended | ||||||||||||||||||||||||
January 3, | December 28, 2013 | 29-Dec-12 | ||||||||||||||||||||||
2015 | ||||||||||||||||||||||||
Assumed health care cost trend rate medical claims | 6.8 | % | 7 | % | 7.5 | % | ||||||||||||||||||
Ultimate health care cost trend | 5 | % | 5 | % | 5 | % | ||||||||||||||||||
Ultimate year health care cost trend rate is achieved | 2023 | 2022 | 2018 | |||||||||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | A one-percentage-point increase (decrease) in the assumed health care cost trend rates has the following effects on postretirement obligations at January 3, 2015 (in thousands): | |||||||||||||||||||||||
1% Increase | 1% Decrease | |||||||||||||||||||||||
Increase (decrease) in accumulated postretirement benefit obligation | $ | 325 | $ | (280 | ) | |||||||||||||||||||
Increase (decrease) in aggregate service and interest cost | 10 | (8 | ) | |||||||||||||||||||||
Lease_Commitments_Tables
Lease Commitments (Tables) | 12 Months Ended | |||
Jan. 03, 2015 | ||||
Leases [Abstract] | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Commitments for future minimum lease payments under non-cancelable operating leases, principally for manufacturing and distribution facilities and certain equipment, are as follows (in thousands): | |||
2015 | $ | 34,709 | ||
2016 | 28,593 | |||
2017 | 23,575 | |||
2018 | 18,580 | |||
2019 | 13,441 | |||
Thereafter | 14,361 | |||
Total future minimum lease payments | $ | 133,259 | ||
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2015 | ||||||||||||
Segment Reporting [Abstract] | ||||||||||||
Revenue from External Customers by Products and Services [Table Text Block] | The Company is in the business of manufacturing and distributing exterior residential building products. The Company has a single operating segment and a single reportable segment. The Company’s chief operating decision maker is considered to be the Chief Executive Officer. The chief operating decision maker allocates resources and assesses performance of the business and other activities at the single operating segment level. | |||||||||||
The following table sets forth a summary of net sales by principal product offering (in thousands): | ||||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | December 29, 2012 | ||||||||||
2015 | ||||||||||||
Vinyl windows | $ | 401,550 | $ | 369,869 | $ | 357,267 | ||||||
Vinyl siding products | 213,949 | 216,872 | 227,374 | |||||||||
Metal products | 155,464 | 166,602 | 174,111 | |||||||||
Third-party manufactured products | 296,927 | 314,408 | 302,966 | |||||||||
Other products and services | 119,083 | 101,847 | 80,803 | |||||||||
$ | 1,186,973 | $ | 1,169,598 | $ | 1,142,521 | |||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | The Company operates principally in the U.S. and Canada. Net sales and long-lived assets by country were determined based on the location of the selling subsidiary as follows (in thousands): | |||||||||||
Years Ended | ||||||||||||
January 3, | December 28, 2013 | December 29, 2012 | ||||||||||
2015 | ||||||||||||
Net Sales: | ||||||||||||
United States | $ | 965,739 | $ | 950,977 | $ | 904,791 | ||||||
Canada | 221,234 | 218,621 | 237,730 | |||||||||
$ | 1,186,973 | $ | 1,169,598 | $ | 1,142,521 | |||||||
January 3, | December 28, 2013 | |||||||||||
2015 | ||||||||||||
Long-lived Assets: | ||||||||||||
United States | $ | 64,451 | $ | 66,922 | ||||||||
Canada | 29,449 | 34,023 | ||||||||||
$ | 93,900 | $ | 100,945 | |||||||||
Subsidiary_Guarantors_Tables
Subsidiary Guarantors (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiary Guarantors [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed consolidating balance sheet | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 3, 2015 | December 28, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | Guarantors | Subsidiaries | Eliminations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Current assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 5,933 | $ | — | $ | — | $ | 30 | $ | — | $ | 5,963 | Cash and cash equivalents | $ | 7,566 | $ | — | $ | — | $ | 13,249 | $ | — | $ | 20,815 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts receivable, net | 98,945 | — | 6,411 | 19,765 | — | 125,121 | Accounts receivable, net | 96,265 | — | 9,858 | 19,140 | — | 125,263 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivables | 356,421 | — | 61,740 | 1,794 | (419,955 | ) | — | Intercompany receivables | 374,444 | — | 57,711 | 1,794 | (433,949 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories | 100,487 | — | 10,969 | 34,076 | — | 145,532 | Inventories | 93,175 | — | 10,117 | 30,177 | — | 133,469 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income taxes receivable | — | — | 144 | — | — | 144 | Income taxes receivable | — | — | 792 | — | — | 792 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | 487 | — | 1,952 | — | — | 2,439 | Deferred income taxes | 2,451 | — | 2,234 | — | — | 4,685 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | 13,422 | — | 996 | 1,441 | — | 15,859 | Prepaid expenses and other current assets | 8,239 | — | 891 | 1,712 | — | 10,842 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total current assets | 575,695 | — | 82,212 | 57,106 | (419,955 | ) | 295,058 | Total current assets | 582,140 | — | 81,603 | 66,072 | (433,949 | ) | 295,866 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, net | 62,977 | — | 1,474 | 29,449 | — | 93,900 | Property, plant and equipment, net | 65,348 | — | 1,574 | 34,023 | — | 100,945 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill | 203,841 | — | 16,713 | 96,703 | — | 317,257 | Goodwill | 300,642 | — | 24,650 | 146,499 | — | 471,791 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other intangible assets, net | 305,127 | — | 33,084 | 99,089 | — | 437,300 | Other intangible assets, net | 379,740 | — | 44,654 | 138,830 | — | 563,224 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany receivable | — | 834,004 | — | — | (834,004 | ) | — | Intercompany receivable | — | 835,230 | — | — | (835,230 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other assets | 17,246 | — | 45 | 1,371 | — | 18,662 | Other assets | 22,926 | — | — | 1,867 | — | 24,793 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 1,164,886 | $ | 834,004 | $ | 133,528 | $ | 283,718 | $ | (1,253,959 | ) | $ | 1,162,177 | Total assets | $ | 1,350,796 | $ | 835,230 | $ | 152,481 | $ | 387,291 | $ | (1,269,179 | ) | $ | 1,456,619 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND MEMBER'S DEFICIT | LIABILITIES AND MEMBER'S EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | 67,160 | $ | — | $ | 6,679 | $ | 20,929 | $ | — | $ | 94,768 | Accounts payable | $ | 64,272 | $ | — | $ | 9,531 | $ | 23,171 | $ | — | $ | 96,974 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany payables | 1,794 | — | — | 418,161 | (419,955 | ) | — | Intercompany payables | 1,794 | — | — | 432,155 | (433,949 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued liabilities | 70,439 | — | 4,683 | 6,612 | — | 81,734 | Accrued liabilities | 63,534 | — | 6,392 | 8,256 | — | 78,182 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | — | — | 1,292 | — | 1,292 | Deferred income taxes | — | — | — | 2,441 | — | 2,441 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income taxes payable | 46 | — | — | 1,736 | — | 1,782 | Income taxes payable | 452 | — | — | 1,687 | — | 2,139 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 139,439 | — | 11,362 | 448,730 | (419,955 | ) | 179,576 | Total current liabilities | 130,052 | — | 15,923 | 467,710 | (433,949 | ) | 179,736 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | 51,012 | — | 13,295 | 24,023 | — | 88,330 | Deferred income taxes | 73,862 | — | 16,620 | 35,722 | — | 126,204 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other liabilities | 84,048 | — | 22,395 | 22,573 | — | 129,016 | Other liabilities | 76,668 | — | 20,588 | 20,403 | — | 117,659 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deficit in subsidiaries | 128,532 | — | 215,008 | — | (343,540 | ) | — | Deficit in subsidiaries | 37,194 | — | 136,544 | — | (173,738 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | 900,004 | 834,004 | — | 3,400 | (834,004 | ) | 903,404 | Long-term debt | 835,230 | 835,230 | — | — | (835,230 | ) | 835,230 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Member’s deficit | (138,149 | ) | — | (128,532 | ) | (215,008 | ) | 343,540 | (138,149 | ) | Member’s equity | 197,790 | — | (37,194 | ) | (136,544 | ) | 173,738 | 197,790 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and member’s deficit | $ | 1,164,886 | $ | 834,004 | $ | 133,528 | $ | 283,718 | $ | (1,253,959 | ) | $ | 1,162,177 | Total liabilities and member’s equity | $ | 1,350,796 | $ | 835,230 | $ | 152,481 | $ | 387,291 | $ | (1,269,179 | ) | $ | 1,456,619 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed consolidating statements of operations | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For The Year Ended January 3, 2015 | For The Year Ended December 28, 2013 | For The Year Ended December 29, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | Guarantors | Subsidiaries | Eliminations | Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | 933,837 | $ | — | $ | 155,953 | $ | 276,822 | $ | (179,639 | ) | $ | 1,186,973 | Net sales | $ | 900,422 | $ | — | $ | 166,302 | $ | 263,604 | $ | (160,730 | ) | $ | 1,169,598 | Net sales | $ | 861,092 | $ | — | $ | 169,610 | $ | 279,464 | $ | (167,645 | ) | $ | 1,142,521 | |||||||||||||||||||||||||||||||||||||||
Cost of sales | 758,858 | — | 143,315 | 220,885 | (179,639 | ) | 943,419 | Cost of sales | 687,015 | — | 150,647 | 210,866 | (160,730 | ) | 887,798 | Cost of sales | 649,672 | — | 155,262 | 222,328 | (167,645 | ) | 859,617 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross profit | 174,979 | — | 12,638 | 55,937 | — | 243,554 | Gross profit | 213,407 | — | 15,655 | 52,738 | — | 281,800 | Gross profit | 211,420 | — | 14,348 | 57,136 | — | 282,904 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 198,967 | — | 4,678 | 43,638 | — | 247,283 | Selling, general and administrative expenses | 183,250 | — | 5,281 | 43,750 | — | 232,281 | Selling, general and administrative expenses | 184,840 | — | 9,922 | 45,265 | — | 240,027 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impairment of goodwill | 96,801 | — | 8,850 | 38,508 | — | 144,159 | Income from operations | 30,157 | — | 10,374 | 8,988 | — | 49,519 | Income from operations | 26,580 | — | 4,426 | 11,871 | — | 42,877 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impairment of other intangible assets | 54,600 | — | 11,721 | 23,366 | — | 89,687 | Interest expense, net | 77,681 | — | — | 2,070 | — | 79,751 | Interest expense, net | 73,761 | — | — | 1,759 | — | 75,520 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss from operations | (175,389 | ) | — | (12,611 | ) | (49,575 | ) | — | (237,575 | ) | Foreign currency loss | — | — | — | 754 | — | 754 | Foreign currency loss | — | — | — | 119 | — | 119 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest expense, net | 80,991 | — | — | 1,536 | — | 82,527 | (Loss) income before income taxes | (47,524 | ) | — | 10,374 | 6,164 | — | (30,986 | ) | (Loss) income before income taxes | (47,181 | ) | — | 4,426 | 9,993 | — | (32,762 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency loss | — | — | — | 788 | — | 788 | Income tax (benefit) expense | (1,882 | ) | — | 1,668 | 2,721 | — | 2,507 | Income tax (benefit) expense | (9,828 | ) | — | 12,120 | 3,313 | — | 5,605 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss before income taxes | (256,380 | ) | — | (12,611 | ) | (51,899 | ) | — | (320,890 | ) | (Loss) income before equity income from subsidiaries | (45,642 | ) | — | 8,706 | 3,443 | — | (33,493 | ) | (Loss) income before equity (loss) income from subsidiaries | (37,353 | ) | — | (7,694 | ) | 6,680 | — | (38,367 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Income tax benefit | (23,340 | ) | — | (587 | ) | (3,274 | ) | — | (27,201 | ) | Equity income from subsidiaries | 12,149 | — | 3,443 | — | (15,592 | ) | — | Equity (loss) income from subsidiaries | (1,014 | ) | — | 6,680 | — | (5,666 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss before equity loss from subsidiaries | (233,040 | ) | — | (12,024 | ) | (48,625 | ) | — | (293,689 | ) | Net (loss) income | $ | (33,493 | ) | $ | — | $ | 12,149 | $ | 3,443 | $ | (15,592 | ) | $ | (33,493 | ) | Net (loss) income | $ | (38,367 | ) | $ | — | $ | (1,014 | ) | $ | 6,680 | $ | (5,666 | ) | $ | (38,367 | ) | |||||||||||||||||||||||||||||||||||||
Equity loss from subsidiaries | (60,649 | ) | — | (48,625 | ) | — | 109,274 | — | Other comprehensive income (loss): | Other comprehensive (loss) income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and other postretirement benefit adjustments, net of tax | 19,774 | — | 9,666 | 7,594 | (17,260 | ) | 19,774 | Pension and other postretirement benefit adjustments, net of tax | (9,446 | ) | — | (6,481 | ) | (5,909 | ) | 12,390 | (9,446 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | $ | (293,689 | ) | $ | — | $ | (60,649 | ) | $ | (48,625 | ) | $ | 109,274 | $ | (293,689 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments, net of tax | (20,443 | ) | — | (20,443 | ) | (20,443 | ) | 40,886 | (20,443 | ) | Foreign currency translation adjustments, net of tax | 8,228 | — | 8,228 | 8,228 | (16,456 | ) | 8,228 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and other postretirement benefit adjustments, net of tax | (20,268 | ) | — | (8,252 | ) | (5,889 | ) | 14,141 | (20,268 | ) | Total comprehensive (loss) income | $ | (34,162 | ) | $ | — | $ | 1,372 | $ | (9,406 | ) | $ | 8,034 | $ | (34,162 | ) | Total comprehensive (loss) income | $ | (39,585 | ) | $ | — | $ | 733 | $ | 8,999 | $ | (9,732 | ) | $ | (39,585 | ) | ||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments, net of tax | (22,439 | ) | — | (22,439 | ) | (22,439 | ) | 44,878 | (22,439 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive loss | $ | (336,396 | ) | $ | — | $ | (91,340 | ) | $ | (76,953 | ) | $ | 168,293 | $ | (336,396 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed consolidating statements of cash flows | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | ASSOCIATED MATERIALS, LLC AND SUBSIDIARIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For The Year Ended January 3, 2015 | For The Year Ended December 28, 2013 | For The Year Ended December 29, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | Company | Co-Issuer | Subsidiary | Non-Guarantor | Reclassification/ | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantors | Subsidiaries | Eliminations | Guarantors | Subsidiaries | Eliminations | Guarantors | Subsidiaries | Eliminations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (77,627 | ) | $ | — | $ | 15,075 | $ | (8,413 | ) | $ | — | $ | (70,965 | ) | Net cash provided by (used in) operating activities | $ | 2,063 | $ | — | $ | (14,211 | ) | $ | 12,401 | $ | — | $ | 253 | Net cash (used in) provided by operating activities | $ | (5,869 | ) | $ | — | $ | (9,514 | ) | $ | 14,794 | $ | — | $ | (589 | ) | |||||||||||||||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | (11,321 | ) | — | (276 | ) | (1,255 | ) | — | (12,852 | ) | Capital expenditures | (10,926 | ) | — | (56 | ) | (720 | ) | — | (11,702 | ) | Capital expenditures | (4,335 | ) | — | (68 | ) | (968 | ) | — | (5,371 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from the sale of assets | 16 | — | — | 3 | — | 19 | Proceeds from the sale of assets | 56 | — | — | 4 | — | 60 | Proceeds from sale of assets | 90 | — | 1 | 3 | — | 94 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments on loans to affiliates | — | — | (14,799 | ) | — | 14,799 | — | Supply Center acquisition | (348 | ) | — | — | — | — | (348 | ) | Payments on loans to affiliates | — | — | — | (18,000 | ) | 18,000 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receipts on loans to affiliates | 6,500 | — | — | — | (6,500 | ) | — | Payments on loans to affiliates | (20,000 | ) | — | — | — | 20,000 | — | Receipts on loans to affiliates | — | — | 6,792 | 53,000 | (59,792 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | (4,805 | ) | — | (15,075 | ) | (1,252 | ) | 8,299 | (12,833 | ) | Receipts on loans to affiliates | 11,500 | — | 14,267 | — | (25,767 | ) | — | Net cash (used in) provided by investing activities | (4,245 | ) | — | 6,725 | 34,035 | (41,792 | ) | (5,277 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FINANCING ACTIVITIES | Net cash (used in) provided by investing activities | (19,718 | ) | — | 14,211 | (716 | ) | (5,767 | ) | (11,990 | ) | FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings under ABL facilities | 156,700 | — | — | 83,522 | — | 240,222 | Borrowings under ABL facilities | 116,100 | — | — | 92,371 | — | 208,471 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments under ABL facilities | (90,700 | ) | — | — | (80,110 | ) | — | (170,810 | ) | Borrowings under ABL facilities | 99,891 | — | — | 48,970 | — | 148,861 | Payments under ABL facilities | (117,600 | ) | — | — | (86,571 | ) | — | (204,171 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings from affiliates | 14,799 | — | — | — | (14,799 | ) | — | Payments under ABL facilities | (169,391 | ) | — | — | (57,470 | ) | — | (226,861 | ) | Borrowings from affiliates | 18,000 | — | — | — | (18,000 | ) | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments to affiliates | — | — | — | (6,500 | ) | 6,500 | — | Borrowings from affiliates | — | — | — | 20,000 | (20,000 | ) | — | Repayments to affiliates | (6,792 | ) | — | (53,000 | ) | — | 59,792 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 80,799 | — | — | (3,088 | ) | (8,299 | ) | 69,412 | Repayments to affiliates | (14,267 | ) | — | — | (11,500 | ) | 25,767 | — | Dividends paid | — | — | 55,789 | (55,789 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (466 | ) | — | (466 | ) | Equity contribution from parent | 742 | — | — | — | — | 742 | Equity contribution from parent | 80 | — | — | — | — | 80 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decrease in cash and cash equivalents | (1,633 | ) | — | — | (13,219 | ) | — | (14,852 | ) | Issuance of Senior Secured Notes | 106,000 | — | — | — | — | 106,000 | Financing costs | (209 | ) | — | — | (16 | ) | — | (225 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 7,566 | — | — | 13,249 | — | 20,815 | Financing costs | (5,074 | ) | — | — | (475 | ) | — | (5,549 | ) | Net cash provided by (used in) financing activities | 9,579 | — | 2,789 | (50,005 | ) | 41,792 | 4,155 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of year | $ | 5,933 | $ | — | $ | — | $ | 30 | $ | — | $ | 5,963 | Net cash provided by (used in) financing activities | 17,901 | — | — | (475 | ) | 5,767 | 23,193 | Effect of exchange rate changes on cash and cash equivalents | — | — | — | (69 | ) | — | (69 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (235 | ) | — | (235 | ) | Decrease in cash and cash equivalents | (535 | ) | — | — | (1,245 | ) | — | (1,780 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase in cash and cash equivalents | 246 | — | — | 10,975 | — | 11,221 | Cash and cash equivalents at beginning of year | 7,855 | — | — | 3,519 | — | 11,374 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of year | 7,320 | — | — | 2,274 | — | 9,594 | Cash and cash equivalents at end of year | $ | 7,320 | $ | — | $ | — | $ | 2,274 | $ | — | $ | 9,594 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of year | $ | 7,566 | $ | — | $ | — | $ | 13,249 | $ | — | $ | 20,815 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revised Schedule of Condensed Statement of Cash Flows | The condensed consolidating statement of cash flows for the years ended December 28, 2013 and December 29, 2012 have been revised to present changes in receivable from or payable to an affiliate, which resulted from deposits in and withdrawals from the Company’s cash account by its subsidiary, under a centralized cash management arrangement, and loan payments and receipts between the Company’s subsidiaries within investing and financing activities. Changes in receivable from or payable to an affiliate related to trade transactions are presented within operating activities. The Company previously reported all changes in receivable from and payable to an affiliate as cash flows in financing activities. The effect is summarized as follows (in thousands): | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 28, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company (As Previously Reported) | Company (As Corrected) | Subsidiary Guarantors (As Previously Reported) | Subsidiary Guarantors (As Corrected) | Non-Guarantor Subsidiary (As Previously Reported) | Non-Guarantor Subsidiary (As Corrected) | Eliminations (As Previously Reported) | Eliminations (As Corrected) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (12,204 | ) | $ | 2,063 | $ | 56 | $ | (14,211 | ) | $ | 12,401 | $ | 12,401 | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments on loans to affiliates | — | (20,000 | ) | — | — | — | — | — | 20,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receipts on loans to affiliates | — | 11,500 | — | 14,267 | — | — | — | (25,767 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by investing activities | (11,218 | ) | (19,718 | ) | (56 | ) | 14,211 | (716 | ) | (716 | ) | — | (5,767 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings from affiliates | — | — | — | — | — | 20,000 | — | (20,000 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments to affiliates | — | (14,267 | ) | — | — | — | (11,500 | ) | — | 25,767 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany transactions | (8,500 | ) | — | — | — | 8,500 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 23,668 | 17,901 | — | — | (475 | ) | (475 | ) | — | 5,767 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 29, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company (As Previously Reported) | Company (As Corrected) | Subsidiary Guarantors (As Previously Reported) | Subsidiary Guarantors (As Corrected) | Non-Guarantor Subsidiary (As Previously Reported) | Non-Guarantor Subsidiary (As Corrected) | Eliminations (As Previously Reported) | Eliminations (As Corrected) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (7,641 | ) | $ | (5,869 | ) | $ | 2,724 | $ | (9,514 | ) | $ | 4,328 | $ | 14,794 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments on loans to affiliates | — | — | — | — | — | (18,000 | ) | — | 18,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receipts on loans to affiliates | — | — | — | 6,792 | — | 53,000 | — | (59,792 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by investing activities | (4,245 | ) | (4,245 | ) | (67 | ) | 6,725 | (965 | ) | 34,035 | — | (41,792 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings from affiliates | — | 18,000 | — | — | — | — | — | (18,000 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayments to affiliates | — | (6,792 | ) | — | (53,000 | ) | — | — | — | 59,792 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany transactions | 12,980 | — | (58,446 | ) | — | 45,466 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 11,351 | 9,579 | (2,657 | ) | 2,789 | (4,539 | ) | (50,005 | ) | — | 41,792 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting_Policies_Details
Accounting Policies (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
facilities | ||||
distributors | ||||
supply_centers | ||||
Accounting Policies Textual [Line Items] | ||||
Foreign Currency Transaction Gain (Loss), Foreign Currency Forward Contract | ($0.10) | |||
Manufacturing Facilities | 11 | |||
Contractor customers | 50,000 | |||
Company Owned Supply Centers | 126 | |||
Entity-Wide Revenue, Major Customer, Percentage | 14.00% | 13.00% | 13.00% | |
Independent distributors | 275 | |||
Customer Rewards Program Costs | 3.9 | 3.8 | 4.5 | |
Shipping, Handling and Transportation Costs | 31.6 | 30.8 | 31.9 | |
Marketing and Advertising Expense | 11.6 | 8.8 | 11 | |
Research and Development Expense | $0 | $4 | $0 | |
Hellman & Friedman LLC Affiliated Investment Funds [Member] | ||||
Accounting Policies Textual [Line Items] | ||||
Percentage of Stock Held by Affiliate | 97.00% | |||
Building and Building Improvements [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 20 years | |||
Building and Building Improvements [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 30 years | |||
Machinery and Equipment [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Machinery and Equipment [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 15 years |
Accounting_Policies_Lease_Obli
Accounting Policies Lease Obligations (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Jan. 01, 2011 | Jan. 03, 2015 |
Accounting Policies Textual [Line Items] | ||
Operating Lease Asset, Fair Value Adjustment | $0.80 | |
Operating Lease Liability, Fair Value Adjustment | 5 | |
Operating Lease Asset, Fair Value Adjustment Unamortized Balance | 0.1 | |
Operating Lease Liabilities, Fair Value Adjustment Unamortized Balance | $2.40 |
Related_Parties_Details
Related Parties (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 03, 2015 | Dec. 29, 2012 | Dec. 28, 2013 |
HUB international [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Purchases from Related Party | $0.10 | ||
AlixPartners, LLP [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Purchases from Related Party | 0.5 | ||
Chief Executive Officer [Member] | |||
Related Party Transaction [Line Items] | |||
Other Labor-related Expenses | 0.8 | ||
Chief Financial Officer [Member] | |||
Related Party Transaction [Line Items] | |||
Other Labor-related Expenses | $0.10 |
Allowance_for_Doubtful_Account2
Allowance for Doubtful Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Provision for losses | $2,138 | $1,122 | $2,420 |
Allowance for Doubtful Accounts, Current [Member] | |||
Allowance for Doubtful Accounts, Classification [Abstract] | |||
Current portion allowance for doubtful accounts | 3,542 | 3,198 | |
Allowance for Doubtful Accounts, Noncurrent [Member] | |||
Allowance for Doubtful Accounts, Classification [Abstract] | |||
Long-term portion allowance for doubtful accounts | 4,549 | 5,494 | |
Allowance for Doubtful Accounts [Member] | |||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Balance at beginning of period | 8,692 | 9,171 | 7,823 |
Provision for losses | 2,138 | 1,122 | 2,420 |
Losses sustained (net of recoveries) | -2,739 | -1,601 | -1,072 |
Balance at end of period | 8,091 | 8,692 | 9,171 |
Allowance for Doubtful Accounts, Classification [Abstract] | |||
Allowance for doubtful accounts receivable | $8,091 | $8,692 | $9,171 |
Inventories_Details
Inventories (Details) (USD $) | Jan. 03, 2015 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Inventory [Line Items] | ||
Raw materials | $29,300 | $32,129 |
Work-in-progress | 16,442 | 9,356 |
Finished goods | 99,790 | 91,984 |
Inventory, net | $145,532 | $133,469 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | |
Property, Plant and Equipment [Abstract] | |||
Land | $13,461,000 | $14,487,000 | |
Buildings | 39,674,000 | 40,090,000 | |
Machinery and equipment | 120,945,000 | 107,983,000 | |
Construction in process | 3,934,000 | 7,725,000 | |
Property, plant and equipment, gross | 178,014,000 | 170,285,000 | |
Less accumulated depreciation | 84,114,000 | 69,340,000 | |
Property, plant and equipment, net | 93,900,000 | 100,945,000 | |
Depreciation | 17,100,000 | 17,000,000 | 23,200,000 |
Construction in Progress Expenditures Incurred but Not yet Paid | $700,000 | $600,000 |
Changes_in_Goodwill_Details
Changes in Goodwill (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Goodwill [Rollforward] | ||||
Balance at beginning of period | $471,791 | $471,791 | $482,613 | |
Impairment of goodwill | 148,500 | 144,159 | 0 | 0 |
Foreign currency translation | -10,375 | -10,822 | ||
Balance at end of period | $317,257 | $471,791 | $482,613 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets Intangible Assets (Details) (USD $) | Jan. 03, 2015 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Finite-Lived Intangible Assets, Gross | $321,856 | $327,300 |
Finite-Lived Intangible Assets, Accumulated Amortization | 106,671 | 82,885 |
Finite-Lived Intangible Assets, Net | 215,185 | 244,415 |
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ||
Intangible Assets, Gross (Excluding Goodwill) | 543,971 | 646,109 |
Intangible Assets, Accumulated Amortization (Excluding Goodwill) | 106,671 | 82,885 |
Intangible Assets, Net (Excluding Goodwill) | 437,300 | 563,224 |
Amortized customer bases | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Finite-Lived Intangible Assets, Gross | 321,836 | 327,280 |
Finite-Lived Intangible Assets, Accumulated Amortization | 106,655 | 82,874 |
Finite-Lived Intangible Assets, Net | 215,181 | 244,406 |
Amortized non-compete agreements | ||
Finite-Lived Intangible Assets, Net [Abstract] | ||
Finite-Lived Intangible Assets, Gross | 20 | 20 |
Finite-Lived Intangible Assets, Accumulated Amortization | 16 | 11 |
Finite-Lived Intangible Assets, Net | 4 | 9 |
Non-amortized trade names | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract] | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill) | $222,115 | $318,809 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Textual) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jan. 03, 2015 | Dec. 31, 2011 | Sep. 27, 2014 | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | |
Goodwill and Other Intangible Assets Textual [Line Items] | ||||||
Impairment of goodwill | ($148,500,000) | ($144,159,000) | $0 | $0 | ||
Goodwill, Impaired, Adjustment to Initial Estimate Amount | -4,300,000 | |||||
Goodwill, Impaired, Accumulated Impairment Loss | 228,500,000 | 84,300,000 | 228,500,000 | |||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 79,900,000 | 89,687,000 | 0 | 0 | ||
Amortization of Intangible Assets | 25,700,000 | 26,000,000 | 26,200,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 25,000,000 | 25,000,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 25,000,000 | 25,000,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 25,000,000 | 25,000,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 25,000,000 | 25,000,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $25,000,000 | $25,000,000 | ||||
Customer Lists [Member] | ||||||
Goodwill and Other Intangible Assets Textual [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 13 years | |||||
Amortized non-compete agreements | ||||||
Goodwill and Other Intangible Assets Textual [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 3 years |
Accrued_and_Other_Liabilities_1
Accrued and Other Liabilities (Details) (USD $) | Jan. 03, 2015 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities and Other Liabilities [Abstract] | ||
Pensions and other postretirement plans | $40,138 | $25,998 |
Warranty reserves | 80,628 | 83,836 |
Other | 8,250 | 7,825 |
Other liabilities, noncurrent | 129,016 | 117,659 |
Accrued Salaries, Current | 11,355 | 14,621 |
Sales promotions and incentives | 25,786 | 20,954 |
Product Warranty Accrual, Current | 9,312 | 9,371 |
Employee-related Liabilities, Current | 8,828 | 7,273 |
Interest Payable, Current | 13,393 | 12,905 |
Accrual for Taxes Other than Income Taxes, Current | 3,220 | 2,994 |
Other Sundry Liabilities, Current | 9,840 | 10,064 |
Other Liabilities, Current | $81,734 | $78,182 |
Manufacturing_Restructuring_Co2
Manufacturing Restructuring Costs (Details) (Facility Closing [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Facility Closing [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Balance at beginning of period | $2,772 | $3,387 | $4,086 |
Restructuring Reserve, Accrual Adjustment | -331 | 0 | 0 |
Accrection expense, lease obligation | 495 | 516 | 545 |
Payments | -976 | -1,131 | -1,244 |
Balance at end of period | $1,960 | $2,772 | $3,387 |
Manufacturing_Restructuring_Co3
Manufacturing Restructuring Costs (Textual) (Details) (Facility Closing [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Facility Closing [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring Reserve, Accrual Adjustment | ($331) | $0 | $0 |
Product_Warranty_Costs_Details
Product Warranty Costs (Details) (USD $) | 12 Months Ended | |||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | Oct. 12, 2010 | |
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward] | ||||
Balance at beginning of period | $93,207,000 | $97,471,000 | $101,163,000 | |
Provision for warranties issued and changes in estimates for pre-existing warranties | 4,658,000 | 4,040,000 | 4,098,000 | |
Claims paid | -6,816,000 | -7,383,000 | -8,133,000 | |
Foreign currency translation | -1,109,000 | -921,000 | 343,000 | |
Balance at end of period | 89,940,000 | 93,207,000 | 97,471,000 | |
Product Warranty Accrual, Fair Value Adjustment, Net of Amortization | $6,300,000 | $9,500,000 |
Executive_Officers_Separation_1
Executive Officers' Separation and Hiring Costs - (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Seperation and Hiring Costs [Line Items] | |||
Supplemental Unemployment Benefits, Severance Benefits | $1.10 | ||
Employee Speration and Hiring, Payment Completion | 2016 | ||
General and administrative expense | |||
Seperation and Hiring Costs [Line Items] | |||
Separation and hiring costs recorded | $3.80 | $1.40 | $3.40 |
LongTerm_Debt_Details
Long-Term Debt - (Details) (USD $) | Jan. 03, 2015 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Long-term debt | $903,404 | $835,230 |
Line of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings under the ABL facilities | 69,400 | 0 |
9.125% notes | Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
9.125% notes | $834,004 | $835,230 |
Senior_Secured_Notes_Details
Senior Secured Notes (Details) (USD $) | 12 Months Ended | |||
Jan. 03, 2015 | Dec. 28, 2013 | 1-May-13 | Oct. 12, 2010 | |
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Effective Percentage | 7.50% | |||
Senior Notes [Member] | 9.125% notes | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, face amount | $830,000,000 | |||
Debt instrument, interest rate, stated percentage | 9.13% | |||
Long-term debt, fair value | 652,800,000 | 891,200,000 | ||
Notes payable, noncurrent | 834,004,000 | 835,230,000 | ||
Debt instrument, collateral, minimum value of fixed assets that guarantee debt obligation | 5,000,000 | |||
Debt instrument, maximum amount of equity interest in domestic subsidiaries that guarantee debt obligation | 100.00% | |||
Debt instruments, maximum amount of equity interest in foreign subsidiaries that guarantee debt obligation | 65.00% | |||
Debt instrument, redemption price In percentage due to change In control | 101.00% | |||
Senior Notes [Member] | New 9.125% Secured Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, face amount | 100,000,000 | |||
Debt instrument, interest rate, stated percentage | 9.13% | 9.13% | ||
Debt instrument, unamortized discount (premium), net | 4,000,000 | |||
Notes sold at as a percentage of principle amount | 106.00% | |||
Senior Notes [Member] | Original 9.125% Secured Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, face amount | 730,000,000 | |||
Debt instrument, interest rate, stated percentage | 9.13% | |||
Senior Notes [Member] | 12-month Period Commencing on November 1, 2013 [Member] | 9.125% notes | ||||
Debt Instrument [Line Items] | ||||
Redemption price in percentage | 106.84% | |||
Senior Notes [Member] | 12-month Period Commencing on November 1, 2014 [Member] | 9.125% notes | ||||
Debt Instrument [Line Items] | ||||
Redemption price in percentage | 104.56% | |||
Senior Notes [Member] | 12-month Period Commencing on November 1, 2015 [Member] | 9.125% notes | ||||
Debt Instrument [Line Items] | ||||
Redemption price in percentage | 102.28% | |||
Senior Notes [Member] | 12-month Period Commencing on November 1, 2016 [Member] | 9.125% notes | ||||
Debt Instrument [Line Items] | ||||
Redemption price in percentage | 100.00% | |||
Line of Credit [Member] | ||||
Debt Instrument [Line Items] | ||||
Line of credit facility, increase (decrease) In borrowing capacity, net | 12,000,000 | |||
Write off of deferred debt issuance cost | $500,000 |
ABL_Facilities_Details
ABL Facilities (Details) (USD $) | 12 Months Ended | 2 Months Ended | ||
Jan. 03, 2015 | Dec. 28, 2013 | Jun. 05, 2015 | Oct. 12, 2010 | |
Line of Credit Facility [Line Items] | ||||
Fixed charge coverage ratio | 0.54:1.00 | |||
Debt Instrument, Interest Rate Margin Pricing Increments | 25 basis point | |||
Letters of credit outstanding, amount | $11,600,000 | |||
Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | 213,000,000 | 225,000,000 | ||
Debt instrument, covenant minimum availability as percentage of borrowing base | 10.00% | |||
Debt instrument, covenant minimum availability, amount | 20,000,000 | |||
Line of credit facility, excess availability | 79,100,000 | |||
Line of credit facility, commitment fee percentage | 0.38% | |||
Line of credit facility, amount outstanding | 69,400,000 | 0 | ||
Line of credit facility, remaining borrowing capacity | 99,100,000 | |||
Line of Credit Facility, Increase (Decrease) In Borrowing Capacity, Net | 12,000,000 | |||
US facility | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | 150,000,000 | |||
Line of credit facility, interest rate at period end | 3.50% | |||
Canadian facility | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | 75,000,000 | |||
Line of credit facility, interest rate at period end | 4.30% | |||
LIBOR | US facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, description of variable rate basis | LIBOR | |||
CDOR | US facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, basis spread on variable rate | 2.00% | |||
CDOR | Canadian facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, description of variable rate basis | CDOR | |||
One-month LIBOR | US facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, description of variable rate basis | one-month LIBOR rate | |||
Debt instrument, additional basis rate | 1.00% | |||
US prime rate | US facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, description of variable rate basis | prime rate | |||
30 Day CDOR | Canadian facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, description of variable rate basis | 30-day CDOR Rate | |||
Canadian primate rate | Canadian facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, description of variable rate basis | Canadian prime rate | |||
Debt instrument, basis spread on variable rate | 1.00% | |||
Federal Funds Effective Rate | US facility | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, description of variable rate basis | Federal Funds Effective Rate | |||
Debt instrument, additional basis rate | 0.50% | |||
Subsequent Event [Member] | Line of Credit [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Debt instrument, covenant minimum availability, amount | $15,000,000 |
Income_Taxes_Income_Before_Inc
Income Taxes Income Before Income Tax Detail (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Income Before Income Tax, Domestic and Foreign [Line Items] | |||
Loss before income taxes | ($320,890) | ($30,986) | ($32,762) |
Domestic Tax Authority [Member] | |||
Income Before Income Tax, Domestic and Foreign [Line Items] | |||
U.S. entities | -268,991 | -37,150 | -42,755 |
Foreign Tax Authority [Member] | |||
Income Before Income Tax, Domestic and Foreign [Line Items] | |||
Canadian subsidiary | ($51,899) | $6,164 | $9,993 |
Income_Taxes_Component_of_Inco
Income Taxes Component of Income Tax Expense Detail (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Current: | |||
Federal | ($14) | ($802) | ($107) |
State | 16 | 657 | 328 |
Foreign | 3,998 | 4,155 | 7,445 |
Current Income Tax Expense (Benefit) | 4,000 | 4,010 | 7,666 |
Deferred: | |||
Federal | -20,844 | 397 | -240 |
State | -3,084 | -467 | -478 |
Foreign | -7,273 | -1,433 | -1,343 |
Deferred Income Tax Expense (Benefit) | -31,201 | -1,503 | -2,061 |
Income Tax Expense (Benefit) | ($27,201) | $2,507 | $5,605 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes Deferred Tax Assets and Liabilities Detail (Deferred Tax Asset [Domain], USD $) | Jan. 03, 2015 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Tax Asset [Domain] | ||
Deferred Tax Assets, Net [Abstract] | ||
Medical benefits | $1,708 | $1,642 |
Allowance for doubtful accounts | 3,278 | 3,420 |
Penson and other postretirement plans | 12,430 | 7,413 |
Inventory costs | 1,592 | 1,885 |
Warranty costs | 33,819 | 34,611 |
Net operating Loss carryforwards | 162,925 | 133,783 |
Foreign tax credit carryforwards | 4,455 | 4,455 |
Accrued expenses and other | 11,437 | 11,518 |
Total deferred income tax assets | 231,644 | 198,727 |
Valuation allowance | -111,888 | -74,075 |
Net deferred income tax assets | 119,756 | 124,652 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Depreciation | 15,815 | 19,151 |
Intangible assets | 157,546 | 200,481 |
Tax liability on unremitted foreign earnings | 10,496 | 1,868 |
Gain on debt extinguishment | 17,933 | 22,241 |
Other | 5,149 | 4,871 |
Total deferred income tax liabilities | 206,939 | 248,612 |
Net deferred income tax liabilities | ($87,183) | ($123,960) |
Income_Taxes_Effective_Income_
Income Taxes Effective Income Tax Rate Reconciliation Detail | 12 Months Ended | ||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | |
Effective Income Tax Rate Reconciliation [Line Items] | |||
Statutory rate | -35.00% | -35.00% | -35.00% |
State income tax, net of federal income tax benefit | 0.50% | -2.80% | -0.30% |
Tax liability on remitted and unremitted foreign earnings | 2.40% | 16.90% | 12.40% |
Goodwill impairment | 15.70% | 0.00% | 0.00% |
Foreign rate differential | 0.40% | -1.80% | -2.80% |
Valuation allowance | 7.80% | 28.60% | 32.70% |
Foreign tax credit and withholding taxes | 0.30% | 0.80% | 7.30% |
Prior year assessment | 0.10% | 2.80% | 0.00% |
Other | -0.70% | -1.40% | 2.80% |
Effective rate | -8.50% | 8.10% | 17.10% |
Income_Taxes_Unrecognized_Tax_
Income Taxes Unrecognized Tax Benefits Roll Forward Detail (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Income Tax Disclosure [Abstract] | |||
Unrecognized tax benefits, beginning of year | $7,040 | $7,146 | $7,860 |
Gross increases for tax positions of prior years | 0 | 0 | 707 |
Gross increases for tax positions of the current year | 107 | 147 | 81 |
Gross decreases for tax positions of prior years | -6,133 | -253 | -142 |
Settlements | 0 | 0 | -1,360 |
Unrecognized tax benefits, end of year | $1,014 | $7,040 | $7,146 |
Income_Taxes_Income_Tax_Disclo
Income Taxes Income Tax Disclosure (Textual) (Details) (USD $) | 12 Months Ended | ||
Jan. 03, 2015 | Dec. 29, 2012 | Dec. 28, 2013 | |
Income Tax Textual [Line Items] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $0 | $100,000 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,000,000 | 1,200,000 | |
Domestic Tax Authority [Member] | |||
Income Tax Textual [Line Items] | |||
Deferred Tax Assets, Operating Loss Carryforwards | 408,100,000 | ||
Deferred Tax Assets, Gross | 199,600,000 | ||
Deferred Tax Assets, Valuation Allowance | 96,900,000 | ||
Valuation Allowance, Deferred Tax Asset, Change in Amount | 37,800,000 | ||
Valuation Allowances and Reserves, Charged to Cost and Expense | 32,100,000 | ||
Tax Adjustments, Settlements, and Unusual Provisions | 1,300,000 | ||
Foreign Tax Authority [Member] | |||
Income Tax Textual [Line Items] | |||
Tax Credit Carryforward, Expiration Date | 1-Jan-17 | ||
Deferred Tax Assets, Gross | 6,300,000 | ||
State and Local Jurisdiction [Member] | |||
Income Tax Textual [Line Items] | |||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 20,600,000 | ||
Deferred Tax Assets, Gross | 25,700,000 | ||
Deferred Tax Assets, Valuation Allowance | 15,000,000 | ||
Deferred Tax Asset [Domain] | |||
Income Tax Textual [Line Items] | |||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 4,455,000 | 4,455,000 | |
Deferred Tax Assets, Gross | 231,644,000 | 198,727,000 | |
Deferred Tax Assets, Net of Valuation Allowance | 119,756,000 | 124,652,000 | |
Deferred Tax Assets, Valuation Allowance | 111,888,000 | 74,075,000 | |
Minimum [Member] | Domestic Tax Authority [Member] | |||
Income Tax Textual [Line Items] | |||
Operating Loss Carryforwards, Expiration Date | 1-Jan-31 | ||
Open Tax Year | 2011 | ||
Minimum [Member] | Foreign Tax Authority [Member] | |||
Income Tax Textual [Line Items] | |||
Open Tax Year | 2011 | ||
Minimum [Member] | State and Local Jurisdiction [Member] | |||
Income Tax Textual [Line Items] | |||
Operating Loss Carryforwards, Expiration Date | 1-Jan-15 | ||
Open Tax Year | 2009 | ||
Maximum [Member] | Domestic Tax Authority [Member] | |||
Income Tax Textual [Line Items] | |||
Operating Loss Carryforwards, Expiration Date | 1-Jan-34 | ||
Open Tax Year | 2013 | ||
Maximum [Member] | Foreign Tax Authority [Member] | |||
Income Tax Textual [Line Items] | |||
Open Tax Year | 2013 | ||
Maximum [Member] | State and Local Jurisdiction [Member] | |||
Income Tax Textual [Line Items] | |||
Operating Loss Carryforwards, Expiration Date | 1-Jan-34 | ||
Open Tax Year | 2013 | ||
AMH Investment Holdings Corp [Member] | |||
Income Tax Textual [Line Items] | |||
Amounts due to or payable from AMH Investment Holdings Corp. related to the tax sharing agreement. | $0 | $0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) Reclassification out of Accumulated Other Comprehensive Income (Loss) Detail (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Amortization of unrecognized prior service costs | $28 | $21 |
Amortization of unrecognized cumumative actuarial net (gain) loss | -34 | 740 |
Total before tax | -6 | 761 |
Tax expense | 21 | 138 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Net of Tax | ($27) | $623 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance, Pension and Other Postretirement Benefit Plans, Net of Tax | ($3,513) | ($23,287) | |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax | -20,241 | 19,151 | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Net of Tax | -27 | 623 | |
Ending Balance, Pension and Other Postretirement Benefit Plans, Net of Tax | -23,781 | -3,513 | -23,287 |
Beginning Balance, Foreign Currency Translation Adjustment, Net of Tax | -14,403 | 6,040 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -22,439 | -20,443 | 8,228 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | 0 | 0 | |
Ending Balance, Foreign Currency Translation Adjustment, Net of Tax | -36,842 | -14,403 | 6,040 |
Beginning Balance, Accumulated Other Comprehensive Income (Loss), Net of Tax | -17,916 | -17,247 | |
Other Comprehensive Income (Loss), Adjustment, before Reclassification Adjustments, Net of Tax | -42,680 | -1,292 | |
Other Comprehensive Income (Loss), Reclassfication Adjustemnts, Net of Tax | -27 | 623 | |
Ending Balance, Accumulated Other Comprehensive Income (Loss), Net of Tax | -60,623 | -17,916 | -17,247 |
Other comprehensive income (loss), before Reclassification Adjustment, Tax | -2,108 | -2,553 | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Tax | $21 | $138 |
Stock_Plans_Stock_Plans_Detail
Stock Plans Stock Plans (Details) (USD $) | 12 Months Ended | ||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Options outstanding, Beginning | 4,835,438 | ||
Granted | 3,598,963 | ||
Exercised | 0 | ||
Forfeited | -2,931,841 | ||
Options outstanding, Ending | 5,502,560 | 4,835,438 | |
Options exercisable, Ending | 1,158,541 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Options outstanding, Beginning | $10.52 | ||
Granted | $9.19 | ||
Exercised | $0 | ||
Forfeited | $10.25 | ||
Options outstanding, Ending | $9.77 | $10.52 | |
Options exercisable, Ending | $12.14 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |||
Options outstanding January 3, 2015 | 8 years 6 months 11 days | ||
Options exercisable January 3, 2015 | 6 years 5 months 8 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | |||
Nonvested, Beginning | 85,600 | ||
Granted | 62,982 | ||
Vested | -88,382 | ||
Forfeited | -8,000 | ||
Nonvested, Ending | 52,200 | 85,600 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Nonvested, Beginning | $4.25 | ||
Granted | $5.61 | $4.25 | $4.25 |
Vested | $5.22 | ||
Forfeited | $4.25 | ||
Nonvested, Ending | $4.25 | $4.25 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Dividend yield | 0.00% | 0.00% | 0.00% |
Annual risk-free rate | 2.26% | 1.99% | 1.69% |
Expected life of options (years) | 8 years 2 months 1 day | 7 years 2 months 8 days | 8 years 3 months 8 days |
Volatility | 42.20% | 52.30% | 51.00% |
Weighted average fair value of options granted per share | $1.95 | $2.58 | $1.74 |
Stock_Plans_Stock_Plans_Textua
Stock Plans Stock Plans (Textual) (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | Oct. 01, 2011 | Jul. 02, 2011 | Nov. 06, 2014 | Oct. 12, 2010 | |
Stock Plans Textual [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 7,550,076 | 6,150,076 | |||||
Share-Based Compensation Arrangement by Share-based Payment Award, Increase in Number of Shares Authorized | 1,400,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $5.61 | $4.25 | $4.25 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | $13,400,000 | ||||||
Stock-based compensation expense | 500,000 | 200,000 | 100,000 | ||||
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options | 0 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,598,963 | ||||||
Stock Options [Member] | |||||||
Stock Plans Textual [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number of Shares Affected | 2,400,000 | 500,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number of Employees Affected | 43 | 8 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Modification Plan, Weighted Average Exercise Price Prior to Modification | $19.25 | $10 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Modification Plan, Average Remaining Contractual Life | 9 years 3 months 20 days | 9 years 3 months 20 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost | $1,300,000 | $0 | |||||
Time-based Options [Member] | |||||||
Stock Plans Textual [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Annual Percentage of Vesting | 20.00% | ||||||
Performance Shares [Member] | |||||||
Stock Plans Textual [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Annual Percentage of Vesting | 20.00% | ||||||
Equity Option [Member] | |||||||
Stock Plans Textual [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,400,000 | ||||||
Performance Shares [Member] | |||||||
Stock Plans Textual [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 200,000 |
Retirement_Plans_Defined_Benef
Retirement Plans Defined Benefit Plans Disclosure (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Projected benefit obligation at beginning of period | $67,162 | $74,223 | |
Service cost | 1,233 | 1,033 | 752 |
Interest cost | 3,189 | 2,902 | 3,056 |
Plan amendments | 0 | 112 | |
Actuarial (gain) loss | 14,218 | -7,323 | |
Settlements | 0 | 0 | |
Participant contributions | 0 | 0 | |
Benefits paid | -3,809 | -3,785 | |
Retiree drug subsidy reimbursement | 0 | 0 | |
Effect of foreign exchange | 0 | 0 | |
Projected benefit obligation at end of period | 81,993 | 67,162 | 74,223 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of assets at beginning of period | 54,502 | 47,922 | |
Actual return on plan assets | 4,297 | 7,453 | |
Settlements | 0 | 0 | |
Employer contributions | 3,641 | 2,912 | |
Participant contributions | 0 | 0 | |
Benefits paid | -3,809 | -3,785 | |
Effect of foreign exchange | 0 | 0 | |
Fair value of assets at beginning of period | 58,631 | 54,502 | 47,922 |
Defined Benefit Plan, Funded Status of Plan [Abstract] | |||
Funded status | -23,362 | -12,660 | |
Defined Benefit Plan, Accumulated Benefit Obligation [Abstract] | |||
Accumulated Benefit Obligation | 81,993 | 67,162 | |
Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Projected benefit obligation at beginning of period | 76,961 | 85,694 | |
Service cost | 2,373 | 2,785 | 2,421 |
Interest cost | 3,616 | 3,769 | 3,925 |
Plan amendments | 133 | 0 | |
Actuarial (gain) loss | 11,442 | -4,322 | |
Settlements | -688 | -1,855 | |
Participant contributions | 333 | 288 | |
Benefits paid | -3,610 | -3,599 | |
Retiree drug subsidy reimbursement | 0 | 0 | |
Effect of foreign exchange | -7,848 | -5,799 | |
Projected benefit obligation at end of period | 82,712 | 76,961 | 85,694 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of assets at beginning of period | 67,964 | 61,965 | |
Actual return on plan assets | 7,191 | 9,006 | |
Settlements | -688 | -1,855 | |
Employer contributions | 5,998 | 6,768 | |
Participant contributions | 333 | 288 | |
Benefits paid | -3,610 | -3,599 | |
Effect of foreign exchange | -6,766 | -4,609 | |
Fair value of assets at beginning of period | 70,422 | 67,964 | 61,965 |
Defined Benefit Plan, Funded Status of Plan [Abstract] | |||
Funded status | -12,290 | -8,997 | |
Defined Benefit Plan, Accumulated Benefit Obligation [Abstract] | |||
Accumulated Benefit Obligation | 76,472 | 72,153 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Projected benefit obligation at beginning of period | 4,856 | 6,067 | |
Service cost | 11 | 12 | 13 |
Interest cost | 186 | 185 | 233 |
Plan amendments | 0 | -51 | |
Actuarial (gain) loss | 343 | -818 | |
Settlements | 0 | 0 | |
Participant contributions | 17 | 9 | |
Benefits paid | -474 | -561 | |
Retiree drug subsidy reimbursement | 43 | 41 | |
Effect of foreign exchange | -34 | -28 | |
Projected benefit obligation at end of period | 4,948 | 4,856 | 6,067 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of assets at beginning of period | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Settlements | 0 | 0 | |
Employer contributions | 457 | 552 | |
Participant contributions | 17 | 9 | |
Benefits paid | -474 | -561 | |
Effect of foreign exchange | 0 | 0 | |
Fair value of assets at beginning of period | 0 | 0 | 0 |
Defined Benefit Plan, Funded Status of Plan [Abstract] | |||
Funded status | -4,948 | -4,856 | |
Defined Benefit Plan, Accumulated Benefit Obligation [Abstract] | |||
Accumulated Benefit Obligation | $4,948 | $4,856 |
Retirement_Plans_Amount_Recogn
Retirement Plans Amount Recognized in Balance Sheet and Other Comprehensive Income (Loss) (Details 2) (USD $) | Jan. 03, 2015 | Dec. 28, 2013 |
In Thousands, unless otherwise specified | ||
United States Pension Plans of US Entity, Defined Benefit [Member] | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||
Accrued liabilities | $0 | $0 |
Other liabilities | -23,362 | -12,660 |
Total recognized | -23,362 | -12,660 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Net actuarial loss (gain) | 11,839 | -2,137 |
Net prior service cost | 106 | 116 |
Total recognized | 11,945 | -2,021 |
Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||
Accrued liabilities | 0 | 0 |
Other liabilities | -12,290 | -8,997 |
Total recognized | -12,290 | -8,997 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Net actuarial loss (gain) | 12,735 | 4,883 |
Net prior service cost | 479 | 380 |
Total recognized | 13,214 | 5,263 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ||
Accrued liabilities | -462 | -515 |
Other liabilities | -4,486 | -4,341 |
Total recognized | -4,948 | -4,856 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Net actuarial loss (gain) | -280 | -712 |
Net prior service cost | -43 | -51 |
Total recognized | ($323) | ($763) |
Retirement_Plans_Net_Periodic_
Retirement Plans Net Periodic Benefit Costs and Amount Recognized in Other Comprehensive Income (Loss) (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | |||
Amortization of prior service cost | ($28) | ($21) | |
Amortization of net actuarial (loss) gain | -6 | 761 | |
United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 1,233 | 1,033 | 752 |
Interest cost | 3,189 | 2,902 | 3,056 |
Expected return on assets | -4,055 | -3,548 | -3,224 |
Loss recognized due to settlements | 0 | 0 | 0 |
Amortization of prior service cost | 10 | 1 | 0 |
Amortization of net actuarial loss (gain) | 0 | 240 | 4 |
Net periodic benefit cost | 377 | 628 | 588 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | |||
Net actuarial loss (gain) | 13,976 | -11,228 | 3,447 |
Prior service cost | 0 | 112 | 5 |
Loss recognized due to settlements | 0 | 0 | 0 |
Amortization of prior service cost | -10 | -1 | 0 |
Amortization of net actuarial (loss) gain | 0 | -240 | -4 |
Total recognized | 13,966 | -11,357 | 3,448 |
Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 2,373 | 2,785 | 2,421 |
Interest cost | 3,616 | 3,769 | 3,925 |
Expected return on assets | -4,275 | -3,900 | -3,726 |
Loss recognized due to settlements | 117 | 599 | 0 |
Amortization of prior service cost | 26 | 20 | 21 |
Amortization of net actuarial loss (gain) | 54 | 508 | 45 |
Net periodic benefit cost | 1,911 | 3,781 | 2,686 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | |||
Net actuarial loss (gain) | 8,023 | -9,121 | 8,040 |
Prior service cost | 125 | 0 | 0 |
Loss recognized due to settlements | -117 | -599 | 0 |
Amortization of prior service cost | -26 | -20 | -21 |
Amortization of net actuarial (loss) gain | -54 | -508 | -45 |
Total recognized | 7,951 | -10,248 | 7,974 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 11 | 12 | 13 |
Interest cost | 186 | 185 | 233 |
Amortization of prior service cost | -8 | 0 | 0 |
Amortization of net actuarial loss (gain) | -88 | -8 | 1 |
Net periodic benefit cost | 101 | 189 | 247 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | |||
Net actuarial loss (gain) | 342 | -817 | 109 |
Prior service cost | 0 | -51 | 0 |
Amortization of prior service cost | 8 | 0 | 0 |
Amortization of net actuarial (loss) gain | 88 | 8 | -1 |
Total recognized | $438 | ($860) | $108 |
Retirement_Plans_Assumptions_U
Retirement Plans Assumptions Used (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.02% | 4.81% | |
Compensation increases | 0.00% | 0.00% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.81% | 3.97% | 4.54% |
Long-term rate of return on assets | 7.50% | 7.50% | 7.50% |
Compensation increases | 0.00% | 0.00% | 0.00% |
Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 4.00% | 4.78% | |
Compensation increases | 3.50% | 3.50% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.78% | 4.48% | 5.17% |
Long-term rate of return on assets | 6.30% | 6.25% | 6.50% |
Compensation increases | 3.50% | 3.50% | 3.50% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rate | 3.69% | 4.25% | |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rate | 4.25% | 3.43% | 4.10% |
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | |||
Assumed health care cost trend rate medical claims | 6.80% | 7.00% | 7.50% |
Ultimate health care cost trend | 5.00% | 5.00% | 5.00% |
Ultimate year health care cost trend rate is achieved | 2023 | 2022 | 2018 |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract] | |||
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 325 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | -280 | ||
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | 10 | ||
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components | -8 |
Retirement_Plans_Allocation_of
Retirement Plans Allocation of Plan Assets (Details 5) (USD $) | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | |||
Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | $70,422 | $67,964 | $61,965 |
United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 58,631 | 54,502 | 47,922 |
Fair Value, Inputs, Level 1 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 2 | 879 | |
Fair Value, Inputs, Level 1 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 35,215 | 35,126 | |
Fair Value, Inputs, Level 2 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 70,420 | 67,085 | |
Fair Value, Inputs, Level 2 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 23,416 | 19,376 | |
Fair Value, Inputs, Level 3 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Fair Value, Inputs, Level 3 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Equity Securities [Member] | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 35,172 | 35,089 | |
Equity Securities [Member] | Fair Value, Inputs, Level 1 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 35,172 | 35,089 | |
Equity Securities [Member] | Fair Value, Inputs, Level 2 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Equity Securities [Member] | Fair Value, Inputs, Level 3 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Equity Funds [Member] | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 9,494 | 8,240 | |
Equity Funds [Member] | Fair Value, Inputs, Level 1 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Equity Funds [Member] | Fair Value, Inputs, Level 2 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 9,494 | 8,240 | |
Equity Funds [Member] | Fair Value, Inputs, Level 3 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
US Treasury and Government [Member] | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 11,532 | 9,063 | |
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
US Treasury and Government [Member] | Fair Value, Inputs, Level 2 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 11,532 | 9,063 | |
US Treasury and Government [Member] | Fair Value, Inputs, Level 3 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Money Market Funds [Member] | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 2,390 | 2,073 | |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 2,390 | 2,073 | |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Cash [Member] | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 2 | 879 | |
Cash [Member] | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 43 | 37 | |
Cash [Member] | Fair Value, Inputs, Level 1 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 2 | 879 | |
Cash [Member] | Fair Value, Inputs, Level 1 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 43 | 37 | |
Cash [Member] | Fair Value, Inputs, Level 2 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Cash [Member] | Fair Value, Inputs, Level 2 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Cash [Member] | Fair Value, Inputs, Level 3 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Cash [Member] | Fair Value, Inputs, Level 3 | United States Pension Plan of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Pooled Funds | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 70,420 | 67,085 | |
Pooled Funds | Fair Value, Inputs, Level 1 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 0 | 0 | |
Pooled Funds | Fair Value, Inputs, Level 2 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | 70,420 | 67,085 | |
Pooled Funds | Fair Value, Inputs, Level 3 | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value of Plan Assets | $0 | $0 |
Retirement_Plans_Expected_Bene
Retirement Plans Expected Benefit Payments (Details 6) (USD $) | Jan. 03, 2015 |
In Thousands, unless otherwise specified | |
United States Pension Plans of US Entity, Defined Benefit [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | $3,527 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 3,635 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 3,785 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 3,923 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 4,150 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 23,175 |
Foreign Pension Plans, Defined Benefit [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 3,083 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 3,417 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 3,431 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 3,389 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 3,590 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 20,580 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract] | |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 462 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 433 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 410 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 382 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 366 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 1,515 |
Prescription Drug Subsidy Receipts, Fiscal Year Maturity [Abstract] | |
Prescription Drug Subsidy Receipts, Next Twelve Months | -33 |
Prescription Drug Subsidy Receipts, Year Two | -32 |
Prescription Drug Subsidy Receipts, Year Three | -31 |
Prescription Drug Subsidy Receipts, Year Four | -31 |
Prescription Drug Subsidy Receipts, Year Five | -30 |
Prescription Drug Subsidy Receipts, after Year Five | ($131) |
Retirement_Plans_Retirement_Pl
Retirement Plans Retirement Plans (Textual) (Details) (USD $) | 12 Months Ended | ||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Matching Contribution, Percent | 3.50% | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $2,700,000 | $2,600,000 | $2,400,000 |
Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension and Other Postretirement Benefit Plans, Estimated Net Actuarial Costs to be Amortized Next Year | 700,000 | ||
United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0 | 0 | 0 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 3,100,000 | ||
Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | -117,000 | -599,000 | 0 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 4,700,000 | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension and Other Postretirement Benefit Plans, Estimated Net Actuarial Costs to be Amortized Next Year | 0 | ||
Pension and Other Postretirement Benefit Plans, Estimated Net Prior Service Costs to be Amortized Next Year | 0 | ||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | $500,000 | ||
Equity Funds [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Investment Goals | 0.6 | ||
Equity Funds [Member] | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Investment Goals | 0.3 | 0.6 | |
Fixed Income Funds [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Investment Goals | 0.35 | ||
Fixed Income Funds [Member] | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Investment Goals | 0.7 | 0.4 | |
Cash and Cash Equivalents [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Investment Goals | 0.05 |
Lease_Commitments_Details
Lease Commitments (Details) (USD $) | 12 Months Ended | ||
Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | |
Leases [Abstract] | |||
Operating Leases, Rent Expense, Net | $39,200,000 | $39,800,000 | $40,100,000 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 34,709,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 28,593,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 23,575,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 18,580,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 13,441,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 14,361,000 | ||
Operating Leases, Future Minimum Payments Due | $133,259,000 |
Commitments_and_Contingencies_
Commitments and Contingencies - (Details) (USD $) | 12 Months Ended | |||
Jan. 03, 2015 | Dec. 31, 2011 | Dec. 28, 2013 | Dec. 29, 2012 | |
Loss Contingencies [Line Items] | ||||
Letters of credit outstanding, amount | $11,600,000 | |||
Putative Class Action [Member] | ||||
Loss Contingencies [Line Items] | ||||
Cash Settlement Per Third Claim | 8,000 | |||
Environmental Issue [Member] | ||||
Loss Contingencies [Line Items] | ||||
Environmental Remediation Funding | 100,000 | |||
Letters of credit outstanding, amount | 300,000 | 200,000 | ||
Accrual for Environmental Loss Contingencies, Gross | 1,000,000 | |||
Legal Reserve [Member] | Putative Class Action [Member] | ||||
Loss Contingencies [Line Items] | ||||
Settlement Liabilities, Current | 2,500,000 | |||
Notification Reserve [Member] | Putative Class Action [Member] | ||||
Loss Contingencies [Line Items] | ||||
Settlement Liabilities, Current | $600,000 |
Revenue_from_External_Customer
Revenue from External Customer by Products and Services (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Revenue from External Customer [Line Items] | |||
Net sales | $1,186,973 | $1,169,598 | $1,142,521 |
Vinyl Windows [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 401,550 | 369,869 | 357,267 |
Vinyl Siding Products [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 213,949 | 216,872 | 227,374 |
Metal Products [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 155,464 | 166,602 | 174,111 |
Third-party Manufactured Products [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | 296,927 | 314,408 | 302,966 |
Other Products and Services [Member] | |||
Revenue from External Customer [Line Items] | |||
Net sales | $119,083 | $101,847 | $80,803 |
Business_Segments_Revenue_from
Business Segments Revenue from External Customers and Long-Lived Assets (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | $1,186,973 | $1,169,598 | $1,142,521 |
Long-Lived Assets | 93,900 | 100,945 | |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 965,739 | 950,977 | 904,791 |
Long-Lived Assets | 64,451 | 66,922 | |
Canada | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Net sales | 221,234 | 218,621 | 237,730 |
Long-Lived Assets | $29,449 | $34,023 |
Subsidiary_Guarantors_Textual_
Subsidiary Guarantors - (Textual) (Details) | 12 Months Ended |
Jan. 03, 2015 | |
Gentek Holdings, LLC and Gentek Building Products | |
Condensed Financial Statements, Captions [Line Items] | |
Ownership percent of guarantor subsidiaries | 100.00% |
AMH New Finance, Inc | |
Condensed Financial Statements, Captions [Line Items] | |
Ownership percent of guarantor subsidiaries | 100.00% |
Senior Notes [Member] | 9.125% notes | |
Condensed Financial Statements, Captions [Line Items] | |
Debt instrument, interest rate, stated percentage | 9.13% |
Subsidiary_Guarantors_Balance_
Subsidiary Guarantors - (Balance Sheet) (Details) (USD $) | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Current assets: | ||||
Cash and cash equivalents | $5,963 | $20,815 | $9,594 | $11,374 |
Accounts receivable, net | 125,121 | 125,263 | ||
Intercompany receivables | 0 | 0 | ||
Inventories | 145,532 | 133,469 | ||
Income taxes receivable | 144 | 792 | ||
Deferred income taxes | 2,439 | 4,685 | ||
Prepaid expenses and other current assets | 15,859 | 10,842 | ||
Total current assets | 295,058 | 295,866 | ||
Property, plant and equipment, net | 93,900 | 100,945 | ||
Goodwill | 317,257 | 471,791 | 482,613 | |
Other intangible assets, net | 437,300 | 563,224 | ||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivable | 0 | 0 | ||
Other assets | 18,662 | 24,793 | ||
Total assets | 1,162,177 | 1,456,619 | ||
Current liabilities: | ||||
Accounts payable | 94,768 | 96,974 | ||
Intercompany payables | 0 | 0 | ||
Accrued liabilities | 81,734 | 78,182 | ||
Deferred income taxes | 1,292 | 2,441 | ||
Income taxes payable | 1,782 | 2,139 | ||
Total current liabilities | 179,576 | 179,736 | ||
Deferred income taxes | 88,330 | 126,204 | ||
Other liabilities | 129,016 | 117,659 | ||
Long-term debt | 903,404 | 835,230 | ||
Member’s equity | -138,149 | 197,790 | 231,055 | 270,464 |
Total liabilities and member’s equity | 1,162,177 | 1,456,619 | ||
Company | ||||
Current assets: | ||||
Cash and cash equivalents | 5,933 | 7,566 | 7,320 | 7,855 |
Accounts receivable, net | 98,945 | 96,265 | ||
Intercompany receivables | 356,421 | 374,444 | ||
Inventories | 100,487 | 93,175 | ||
Income taxes receivable | 0 | 0 | ||
Deferred income taxes | 487 | 2,451 | ||
Prepaid expenses and other current assets | 13,422 | 8,239 | ||
Total current assets | 575,695 | 582,140 | ||
Property, plant and equipment, net | 62,977 | 65,348 | ||
Goodwill | 203,841 | 300,642 | ||
Other intangible assets, net | 305,127 | 379,740 | ||
Investment in subsidiaries | 128,532 | 37,194 | ||
Intercompany receivable | 0 | 0 | ||
Other assets | 17,246 | 22,926 | ||
Total assets | 1,164,886 | 1,350,796 | ||
Current liabilities: | ||||
Accounts payable | 67,160 | 64,272 | ||
Intercompany payables | 1,794 | 1,794 | ||
Accrued liabilities | 70,439 | 63,534 | ||
Deferred income taxes | 0 | 0 | ||
Income taxes payable | 46 | 452 | ||
Total current liabilities | 139,439 | 130,052 | ||
Deferred income taxes | 51,012 | 73,862 | ||
Other liabilities | 84,048 | 76,668 | ||
Long-term debt | 900,004 | 835,230 | ||
Member’s equity | -138,149 | 197,790 | ||
Total liabilities and member’s equity | 1,164,886 | 1,350,796 | ||
Co-Issuer | ||||
Current assets: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 0 | 0 | ||
Intercompany receivables | 0 | 0 | ||
Inventories | 0 | 0 | ||
Income taxes receivable | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Total current assets | 0 | 0 | ||
Property, plant and equipment, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivable | 834,004 | 835,230 | ||
Other assets | 0 | 0 | ||
Total assets | 834,004 | 835,230 | ||
Current liabilities: | ||||
Accounts payable | 0 | 0 | ||
Intercompany payables | 0 | 0 | ||
Accrued liabilities | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Income taxes payable | 0 | 0 | ||
Total current liabilities | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Other liabilities | 0 | 0 | ||
Long-term debt | 834,004 | 835,230 | ||
Member’s equity | 0 | 0 | ||
Total liabilities and member’s equity | 834,004 | 835,230 | ||
Subsidiary Guarantors | ||||
Current assets: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 6,411 | 9,858 | ||
Intercompany receivables | 61,740 | 57,711 | ||
Inventories | 10,969 | 10,117 | ||
Income taxes receivable | 144 | 792 | ||
Deferred income taxes | 1,952 | 2,234 | ||
Prepaid expenses and other current assets | 996 | 891 | ||
Total current assets | 82,212 | 81,603 | ||
Property, plant and equipment, net | 1,474 | 1,574 | ||
Goodwill | 16,713 | 24,650 | ||
Other intangible assets, net | 33,084 | 44,654 | ||
Investment in subsidiaries | 215,008 | 136,544 | ||
Intercompany receivable | 0 | 0 | ||
Other assets | 45 | 0 | ||
Total assets | 133,528 | 152,481 | ||
Current liabilities: | ||||
Accounts payable | 6,679 | 9,531 | ||
Intercompany payables | 0 | 0 | ||
Accrued liabilities | 4,683 | 6,392 | ||
Deferred income taxes | 0 | 0 | ||
Income taxes payable | 0 | 0 | ||
Total current liabilities | 11,362 | 15,923 | ||
Deferred income taxes | 13,295 | 16,620 | ||
Other liabilities | 22,395 | 20,588 | ||
Long-term debt | 0 | 0 | ||
Member’s equity | -128,532 | -37,194 | ||
Total liabilities and member’s equity | 133,528 | 152,481 | ||
Non-Guarantor Subsidiaries | ||||
Current assets: | ||||
Cash and cash equivalents | 30 | 13,249 | 2,274 | 3,519 |
Accounts receivable, net | 19,765 | 19,140 | ||
Intercompany receivables | 1,794 | 1,794 | ||
Inventories | 34,076 | 30,177 | ||
Income taxes receivable | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Prepaid expenses and other current assets | 1,441 | 1,712 | ||
Total current assets | 57,106 | 66,072 | ||
Property, plant and equipment, net | 29,449 | 34,023 | ||
Goodwill | 96,703 | 146,499 | ||
Other intangible assets, net | 99,089 | 138,830 | ||
Investment in subsidiaries | 0 | 0 | ||
Intercompany receivable | 0 | 0 | ||
Other assets | 1,371 | 1,867 | ||
Total assets | 283,718 | 387,291 | ||
Current liabilities: | ||||
Accounts payable | 20,929 | 23,171 | ||
Intercompany payables | 418,161 | 432,155 | ||
Accrued liabilities | 6,612 | 8,256 | ||
Deferred income taxes | 1,292 | 2,441 | ||
Income taxes payable | 1,736 | 1,687 | ||
Total current liabilities | 448,730 | 467,710 | ||
Deferred income taxes | 24,023 | 35,722 | ||
Other liabilities | 22,573 | 20,403 | ||
Long-term debt | 3,400 | 0 | ||
Member’s equity | -215,008 | -136,544 | ||
Total liabilities and member’s equity | 283,718 | 387,291 | ||
Reclassification/Eliminations | ||||
Current assets: | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Accounts receivable, net | 0 | 0 | ||
Intercompany receivables | -419,955 | -433,949 | ||
Inventories | 0 | 0 | ||
Income taxes receivable | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Total current assets | -419,955 | -433,949 | ||
Property, plant and equipment, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Investment in subsidiaries | -343,540 | -173,738 | ||
Intercompany receivable | -834,004 | -835,230 | ||
Other assets | 0 | 0 | ||
Total assets | -1,253,959 | -1,269,179 | ||
Current liabilities: | ||||
Accounts payable | 0 | 0 | ||
Intercompany payables | -419,955 | -433,949 | ||
Accrued liabilities | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Income taxes payable | 0 | 0 | ||
Total current liabilities | -419,955 | -433,949 | ||
Deferred income taxes | 0 | 0 | ||
Other liabilities | 0 | 0 | ||
Long-term debt | -834,004 | -835,230 | ||
Member’s equity | 343,540 | 173,738 | ||
Total liabilities and member’s equity | ($1,253,959) | ($1,269,179) |
Subsidiary_Guarantors_Statemen
Subsidiary Guarantors - (Statement of Comprehensive Income (Loss)) (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Condensed Financial Statements, Captions [Line Items] | ||||
Net sales | $1,186,973 | $1,169,598 | $1,142,521 | |
Cost of sales | 943,419 | 887,798 | 859,617 | |
Gross profit | 243,554 | 281,800 | 282,904 | |
Selling, general and administrative expenses | 247,283 | 232,281 | 240,027 | |
Impairment of goodwill | 148,500 | 144,159 | 0 | 0 |
Impairment of Intangible Assets (Excluding Goodwill) | 89,687 | |||
Income (loss) from operations | -237,575 | 49,519 | 42,877 | |
Interest expense, net | 82,527 | 79,751 | 75,520 | |
Foreign currency loss (gain) | 788 | 754 | 119 | |
(Loss) income before income taxes | -320,890 | -30,986 | -32,762 | |
Income tax expense (benefit) | -27,201 | 2,507 | 5,605 | |
Income (loss) before equity loss from susidiaries | -293,689 | -33,493 | -38,367 | |
Equity (loss) income from subsidiaries | 0 | 0 | 0 | |
Net (loss) income | -293,689 | -33,493 | -38,367 | |
Other comprehensive income (loss): | ||||
Pension and other postretirement benefit adjustments, net of tax | 20,268 | -19,774 | 9,446 | |
Foreign currency translation adjustments, net of tax | -22,439 | -20,443 | 8,228 | |
Total comprehensive income (loss) | -336,396 | -34,162 | -39,585 | |
Company | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net sales | 933,837 | 900,422 | 861,092 | |
Cost of sales | 758,858 | 687,015 | 649,672 | |
Gross profit | 174,979 | 213,407 | 211,420 | |
Selling, general and administrative expenses | 198,967 | 183,250 | 184,840 | |
Impairment of goodwill | 96,801 | |||
Impairment of Intangible Assets (Excluding Goodwill) | 54,600 | |||
Income (loss) from operations | -175,389 | 30,157 | 26,580 | |
Interest expense, net | 80,991 | 77,681 | 73,761 | |
Foreign currency loss (gain) | 0 | 0 | 0 | |
(Loss) income before income taxes | -256,380 | -47,524 | -47,181 | |
Income tax expense (benefit) | -23,340 | -1,882 | -9,828 | |
Income (loss) before equity loss from susidiaries | -233,040 | -45,642 | -37,353 | |
Equity (loss) income from subsidiaries | -60,649 | 12,149 | -1,014 | |
Net (loss) income | -293,689 | -33,493 | -38,367 | |
Other comprehensive income (loss): | ||||
Pension and other postretirement benefit adjustments, net of tax | 20,268 | -19,774 | 9,446 | |
Foreign currency translation adjustments, net of tax | -22,439 | -20,443 | 8,228 | |
Total comprehensive income (loss) | -336,396 | -34,162 | -39,585 | |
Co-Issuer | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net sales | 0 | 0 | 0 | |
Cost of sales | 0 | 0 | 0 | |
Gross profit | 0 | 0 | 0 | |
Selling, general and administrative expenses | 0 | 0 | 0 | |
Impairment of goodwill | 0 | |||
Impairment of Intangible Assets (Excluding Goodwill) | 0 | |||
Income (loss) from operations | 0 | 0 | 0 | |
Interest expense, net | 0 | 0 | 0 | |
Foreign currency loss (gain) | 0 | 0 | 0 | |
(Loss) income before income taxes | 0 | 0 | 0 | |
Income tax expense (benefit) | 0 | 0 | 0 | |
Income (loss) before equity loss from susidiaries | 0 | 0 | 0 | |
Equity (loss) income from subsidiaries | 0 | 0 | 0 | |
Net (loss) income | 0 | 0 | 0 | |
Other comprehensive income (loss): | ||||
Pension and other postretirement benefit adjustments, net of tax | 0 | 0 | 0 | |
Foreign currency translation adjustments, net of tax | 0 | 0 | 0 | |
Total comprehensive income (loss) | 0 | 0 | 0 | |
Subsidiary Guarantors | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net sales | 155,953 | 166,302 | 169,610 | |
Cost of sales | 143,315 | 150,647 | 155,262 | |
Gross profit | 12,638 | 15,655 | 14,348 | |
Selling, general and administrative expenses | 4,678 | 5,281 | 9,922 | |
Impairment of goodwill | 8,850 | |||
Impairment of Intangible Assets (Excluding Goodwill) | 11,721 | |||
Income (loss) from operations | -12,611 | 10,374 | 4,426 | |
Interest expense, net | 0 | 0 | 0 | |
Foreign currency loss (gain) | 0 | 0 | 0 | |
(Loss) income before income taxes | -12,611 | 10,374 | 4,426 | |
Income tax expense (benefit) | -587 | 1,668 | 12,120 | |
Income (loss) before equity loss from susidiaries | -12,024 | 8,706 | -7,694 | |
Equity (loss) income from subsidiaries | -48,625 | 3,443 | 6,680 | |
Net (loss) income | -60,649 | 12,149 | -1,014 | |
Other comprehensive income (loss): | ||||
Pension and other postretirement benefit adjustments, net of tax | 8,252 | -9,666 | 6,481 | |
Foreign currency translation adjustments, net of tax | -22,439 | -20,443 | 8,228 | |
Total comprehensive income (loss) | -91,340 | 1,372 | 733 | |
Non-Guarantor Subsidiaries | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net sales | 276,822 | 263,604 | 279,464 | |
Cost of sales | 220,885 | 210,866 | 222,328 | |
Gross profit | 55,937 | 52,738 | 57,136 | |
Selling, general and administrative expenses | 43,638 | 43,750 | 45,265 | |
Impairment of goodwill | 38,508 | |||
Impairment of Intangible Assets (Excluding Goodwill) | 23,366 | |||
Income (loss) from operations | -49,575 | 8,988 | 11,871 | |
Interest expense, net | 1,536 | 2,070 | 1,759 | |
Foreign currency loss (gain) | 788 | 754 | 119 | |
(Loss) income before income taxes | -51,899 | 6,164 | 9,993 | |
Income tax expense (benefit) | -3,274 | 2,721 | 3,313 | |
Income (loss) before equity loss from susidiaries | -48,625 | 3,443 | 6,680 | |
Equity (loss) income from subsidiaries | 0 | 0 | 0 | |
Net (loss) income | -48,625 | 3,443 | 6,680 | |
Other comprehensive income (loss): | ||||
Pension and other postretirement benefit adjustments, net of tax | 5,889 | -7,594 | 5,909 | |
Foreign currency translation adjustments, net of tax | -22,439 | -20,443 | 8,228 | |
Total comprehensive income (loss) | -76,953 | -9,406 | 8,999 | |
Reclassification/Eliminations | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net sales | -179,639 | -160,730 | -167,645 | |
Cost of sales | -179,639 | -160,730 | -167,645 | |
Gross profit | 0 | 0 | 0 | |
Selling, general and administrative expenses | 0 | 0 | 0 | |
Impairment of goodwill | 0 | |||
Impairment of Intangible Assets (Excluding Goodwill) | 0 | |||
Income (loss) from operations | 0 | 0 | 0 | |
Interest expense, net | 0 | 0 | 0 | |
Foreign currency loss (gain) | 0 | 0 | 0 | |
(Loss) income before income taxes | 0 | 0 | 0 | |
Income tax expense (benefit) | 0 | 0 | 0 | |
Income (loss) before equity loss from susidiaries | 0 | 0 | 0 | |
Equity (loss) income from subsidiaries | 109,274 | -15,592 | -5,666 | |
Net (loss) income | 109,274 | -15,592 | -5,666 | |
Other comprehensive income (loss): | ||||
Pension and other postretirement benefit adjustments, net of tax | -14,141 | 17,260 | -12,390 | |
Foreign currency translation adjustments, net of tax | 44,878 | 40,886 | -16,456 | |
Total comprehensive income (loss) | $168,293 | $8,034 | ($9,732) |
Subsidiary_Guarantors_Statemen1
Subsidiary Guarantors - (Statement of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by (used in) operating activities | ($70,965) | $253 | ($589) |
Investing Activities | |||
Capital expenditures | -12,852 | -11,702 | -5,371 |
Supply center acquisition | 0 | -348 | 0 |
Payments On Loans To Affiliates | 0 | 0 | 0 |
Receipts On Loans To Affiliates | 0 | 0 | 0 |
Proceeds from the sale of assets | 19 | 60 | 94 |
Net Cash Provided by (Used in) Investing Activities | -12,833 | -11,990 | -5,277 |
Financing Activities | |||
Borrowings under ABL facilities | 240,222 | 148,861 | 208,471 |
Payments under ABL facilities | -170,810 | -226,861 | -204,171 |
Borrowings From Affiliates | 0 | 0 | 0 |
Repayments To Affiliates | 0 | 0 | 0 |
Dividends paid | 0 | ||
Equity contribution from parent | 0 | 742 | 80 |
Proceeds from Issuance of Senior Long-term Debt | 106,000 | ||
Financing costs | 0 | -5,549 | -225 |
Net cash provided by (used in) financing activities | 69,412 | 23,193 | 4,155 |
Effect of exchange rate changes on cash and cash equivalents | -466 | -235 | -69 |
Net (decrease) increase in cash and cash equivalents | -14,852 | 11,221 | -1,780 |
Cash and cash equivalents at beginning of the period | 20,815 | 9,594 | 11,374 |
Cash and cash equivalents at end of the period | 5,963 | 20,815 | 9,594 |
Company | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by (used in) operating activities | -77,627 | 2,063 | -5,869 |
Investing Activities | |||
Capital expenditures | -11,321 | -10,926 | -4,335 |
Supply center acquisition | -348 | ||
Payments On Loans To Affiliates | 0 | -20,000 | 0 |
Receipts On Loans To Affiliates | 6,500 | 11,500 | 0 |
Proceeds from the sale of assets | 16 | 56 | 90 |
Net Cash Provided by (Used in) Investing Activities | -4,805 | -19,718 | -4,245 |
Financing Activities | |||
Borrowings under ABL facilities | 156,700 | 99,891 | 116,100 |
Payments under ABL facilities | -90,700 | -169,391 | -117,600 |
Borrowings From Affiliates | 14,799 | 0 | 18,000 |
Repayments To Affiliates | 0 | -14,267 | -6,792 |
Intercompany Transactions | 0 | 0 | |
Dividends paid | 0 | ||
Equity contribution from parent | 742 | 80 | |
Proceeds from Issuance of Senior Long-term Debt | 106,000 | ||
Financing costs | -5,074 | -209 | |
Net cash provided by (used in) financing activities | 80,799 | 17,901 | 9,579 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | -1,633 | 246 | -535 |
Cash and cash equivalents at beginning of the period | 7,566 | 7,320 | 7,855 |
Cash and cash equivalents at end of the period | 5,933 | 7,566 | 7,320 |
Co-Issuer | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by (used in) operating activities | 0 | 0 | 0 |
Investing Activities | |||
Capital expenditures | 0 | 0 | 0 |
Supply center acquisition | 0 | ||
Payments On Loans To Affiliates | 0 | 0 | 0 |
Receipts On Loans To Affiliates | 0 | 0 | 0 |
Proceeds from the sale of assets | 0 | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities | 0 | 0 | 0 |
Financing Activities | |||
Borrowings under ABL facilities | 0 | 0 | 0 |
Payments under ABL facilities | 0 | 0 | 0 |
Borrowings From Affiliates | 0 | 0 | 0 |
Repayments To Affiliates | 0 | 0 | 0 |
Dividends paid | 0 | ||
Equity contribution from parent | 0 | 0 | |
Proceeds from Issuance of Senior Long-term Debt | 0 | ||
Financing costs | 0 | 0 | |
Net cash provided by (used in) financing activities | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of the period | 0 | 0 | 0 |
Cash and cash equivalents at end of the period | 0 | 0 | 0 |
Subsidiary Guarantors | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by (used in) operating activities | 15,075 | -14,211 | -9,514 |
Investing Activities | |||
Capital expenditures | -276 | -56 | -68 |
Supply center acquisition | 0 | ||
Payments On Loans To Affiliates | -14,799 | 0 | 0 |
Receipts On Loans To Affiliates | 0 | 14,267 | 6,792 |
Proceeds from the sale of assets | 0 | 0 | 1 |
Net Cash Provided by (Used in) Investing Activities | -15,075 | 14,211 | 6,725 |
Financing Activities | |||
Borrowings under ABL facilities | 0 | 0 | 0 |
Payments under ABL facilities | 0 | 0 | 0 |
Borrowings From Affiliates | 0 | 0 | 0 |
Repayments To Affiliates | 0 | 0 | -53,000 |
Intercompany Transactions | 0 | 0 | |
Dividends paid | 55,789 | ||
Equity contribution from parent | 0 | 0 | |
Proceeds from Issuance of Senior Long-term Debt | 0 | ||
Financing costs | 0 | 0 | |
Net cash provided by (used in) financing activities | 0 | 0 | 2,789 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of the period | 0 | 0 | 0 |
Cash and cash equivalents at end of the period | 0 | 0 | 0 |
Non-Guarantor Subsidiaries | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by (used in) operating activities | -8,413 | 12,401 | 14,794 |
Investing Activities | |||
Capital expenditures | -1,255 | -720 | -968 |
Supply center acquisition | 0 | ||
Payments On Loans To Affiliates | 0 | 0 | -18,000 |
Receipts On Loans To Affiliates | 0 | 0 | 53,000 |
Proceeds from the sale of assets | 3 | 4 | 3 |
Net Cash Provided by (Used in) Investing Activities | -1,252 | -716 | 34,035 |
Financing Activities | |||
Borrowings under ABL facilities | 83,522 | 48,970 | 92,371 |
Payments under ABL facilities | -80,110 | -57,470 | -86,571 |
Borrowings From Affiliates | 0 | 20,000 | 0 |
Repayments To Affiliates | -6,500 | -11,500 | 0 |
Intercompany Transactions | 0 | 0 | |
Dividends paid | 55,789 | ||
Equity contribution from parent | 0 | 0 | |
Proceeds from Issuance of Senior Long-term Debt | 0 | ||
Financing costs | -475 | -16 | |
Net cash provided by (used in) financing activities | -3,088 | -475 | -50,005 |
Effect of exchange rate changes on cash and cash equivalents | -466 | -235 | -69 |
Net (decrease) increase in cash and cash equivalents | -13,219 | 10,975 | -1,245 |
Cash and cash equivalents at beginning of the period | 13,249 | 2,274 | 3,519 |
Cash and cash equivalents at end of the period | 30 | 13,249 | 2,274 |
Reclassification/Eliminations | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by (used in) operating activities | 0 | 0 | 0 |
Investing Activities | |||
Capital expenditures | 0 | 0 | |
Supply center acquisition | 0 | ||
Payments On Loans To Affiliates | 14,799 | 20,000 | 18,000 |
Receipts On Loans To Affiliates | -6,500 | -25,767 | -59,792 |
Proceeds from the sale of assets | 0 | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities | 8,299 | -5,767 | -41,792 |
Financing Activities | |||
Borrowings under ABL facilities | 0 | 0 | 0 |
Payments under ABL facilities | 0 | 0 | |
Borrowings From Affiliates | -14,799 | -20,000 | -18,000 |
Repayments To Affiliates | -6,500 | -25,767 | -59,792 |
Intercompany Transactions | 0 | 0 | |
Dividends paid | 0 | ||
Equity contribution from parent | 0 | 0 | 0 |
Proceeds from Issuance of Senior Long-term Debt | 0 | ||
Financing costs | 0 | 0 | |
Net cash provided by (used in) financing activities | -8,299 | 5,767 | 41,792 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net (decrease) increase in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of the period | 0 | 0 | 0 |
Cash and cash equivalents at end of the period | $0 | $0 | $0 |
Subsidiary_Guarantors_Subsidia
Subsidiary Guarantors Subsidiary Guarantors - (Revised Statement of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2015 | Dec. 28, 2013 | Dec. 29, 2012 |
Net Cash Provided by (Used in) Operating Activities | ($70,965) | $253 | ($589) |
Payments On Loans To Affiliates | 0 | 0 | 0 |
Receipts On Loans To Affiliates | 0 | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities | -12,833 | -11,990 | -5,277 |
Borrowings From Affiliates | 0 | 0 | 0 |
Repayments To Affiliates | 0 | 0 | 0 |
Net Cash Provided by (Used in) Financing Activities | 69,412 | 23,193 | 4,155 |
Consolidation, Eliminations [Member] | |||
Net Cash Provided by (Used in) Operating Activities | 0 | 0 | 0 |
Payments On Loans To Affiliates | 14,799 | 20,000 | 18,000 |
Receipts On Loans To Affiliates | -6,500 | -25,767 | -59,792 |
Net Cash Provided by (Used in) Investing Activities | 8,299 | -5,767 | -41,792 |
Borrowings From Affiliates | -14,799 | -20,000 | -18,000 |
Repayments To Affiliates | -6,500 | -25,767 | -59,792 |
Intercompany Transactions | 0 | 0 | |
Net Cash Provided by (Used in) Financing Activities | -8,299 | 5,767 | 41,792 |
Consolidation, Eliminations [Member] | Scenario, Previously Reported [Member] | |||
Net Cash Provided by (Used in) Operating Activities | 0 | 0 | |
Payments On Loans To Affiliates | 0 | 0 | |
Receipts On Loans To Affiliates | 0 | 0 | |
Net Cash Provided by (Used in) Investing Activities | 0 | 0 | |
Borrowings From Affiliates | 0 | 0 | |
Repayments To Affiliates | 0 | 0 | |
Intercompany Transactions | 0 | 0 | |
Net Cash Provided by (Used in) Financing Activities | 0 | 0 | |
Non-Guarantor Subsidiaries [Member] | |||
Net Cash Provided by (Used in) Operating Activities | -8,413 | 12,401 | 14,794 |
Payments On Loans To Affiliates | 0 | 0 | -18,000 |
Receipts On Loans To Affiliates | 0 | 0 | 53,000 |
Net Cash Provided by (Used in) Investing Activities | -1,252 | -716 | 34,035 |
Borrowings From Affiliates | 0 | 20,000 | 0 |
Repayments To Affiliates | -6,500 | -11,500 | 0 |
Intercompany Transactions | 0 | 0 | |
Net Cash Provided by (Used in) Financing Activities | -3,088 | -475 | -50,005 |
Non-Guarantor Subsidiaries [Member] | Scenario, Previously Reported [Member] | |||
Net Cash Provided by (Used in) Operating Activities | 12,401 | 4,328 | |
Payments On Loans To Affiliates | 0 | 0 | |
Receipts On Loans To Affiliates | 0 | 0 | |
Net Cash Provided by (Used in) Investing Activities | -716 | -965 | |
Borrowings From Affiliates | 0 | 0 | |
Repayments To Affiliates | 0 | 0 | |
Intercompany Transactions | -8,500 | -45,466 | |
Net Cash Provided by (Used in) Financing Activities | -475 | -4,539 | |
Guarantor Subsidiaries [Member] | |||
Net Cash Provided by (Used in) Operating Activities | 15,075 | -14,211 | -9,514 |
Payments On Loans To Affiliates | -14,799 | 0 | 0 |
Receipts On Loans To Affiliates | 0 | 14,267 | 6,792 |
Net Cash Provided by (Used in) Investing Activities | -15,075 | 14,211 | 6,725 |
Borrowings From Affiliates | 0 | 0 | 0 |
Repayments To Affiliates | 0 | 0 | -53,000 |
Intercompany Transactions | 0 | 0 | |
Net Cash Provided by (Used in) Financing Activities | 0 | 0 | 2,789 |
Guarantor Subsidiaries [Member] | Scenario, Previously Reported [Member] | |||
Net Cash Provided by (Used in) Operating Activities | 56 | 2,724 | |
Payments On Loans To Affiliates | 0 | 0 | |
Receipts On Loans To Affiliates | 0 | 0 | |
Net Cash Provided by (Used in) Investing Activities | -56 | -67 | |
Borrowings From Affiliates | 0 | 0 | |
Repayments To Affiliates | 0 | 0 | |
Intercompany Transactions | 0 | -58,446 | |
Net Cash Provided by (Used in) Financing Activities | 0 | -2,657 | |
Parent Company [Member] | |||
Net Cash Provided by (Used in) Operating Activities | -77,627 | 2,063 | -5,869 |
Payments On Loans To Affiliates | 0 | -20,000 | 0 |
Receipts On Loans To Affiliates | 6,500 | 11,500 | 0 |
Net Cash Provided by (Used in) Investing Activities | -4,805 | -19,718 | -4,245 |
Borrowings From Affiliates | 14,799 | 0 | 18,000 |
Repayments To Affiliates | 0 | -14,267 | -6,792 |
Intercompany Transactions | 0 | 0 | |
Net Cash Provided by (Used in) Financing Activities | 80,799 | 17,901 | 9,579 |
Parent Company [Member] | Scenario, Previously Reported [Member] | |||
Net Cash Provided by (Used in) Operating Activities | -12,204 | -7,641 | |
Payments On Loans To Affiliates | 0 | 0 | |
Receipts On Loans To Affiliates | 0 | 0 | |
Net Cash Provided by (Used in) Investing Activities | -11,218 | -4,245 | |
Borrowings From Affiliates | 0 | 0 | |
Repayments To Affiliates | 0 | 0 | |
Intercompany Transactions | -8,500 | -12,980 | |
Net Cash Provided by (Used in) Financing Activities | $23,668 | $11,351 |