Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Jan. 03, 2014 | Feb. 20, 2014 | Jun. 28, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 3-Jan-14 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Registrant Name | 'TRIMBLE NAVIGATION LTD /CA/ | ' | ' |
Entity Central Index Key | '0000864749 | ' | ' |
Current Fiscal Year End Date | '--01-03 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 259,844,137 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Public Float | ' | ' | $6.70 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $147,227 | $157,771 |
Accounts receivable, less allowance for doubtful accounts of $6,317 and $6,318, and sales return reserve of $3,190 and $2,763 at the end of fiscal 2013 and 2012, respectively | 337,932 | 323,477 |
Other receivables | 23,143 | 17,327 |
Inventories, net | 254,311 | 240,529 |
Deferred income tax assets | 38,597 | 43,473 |
Other current assets | 35,807 | 33,396 |
Total current assets | 837,017 | 815,973 |
Property and equipment, net | 142,975 | 96,890 |
Goodwill | 1,989,470 | 1,815,699 |
Other purchased intangible assets, net | 619,399 | 644,419 |
Other non-current assets | 111,979 | 96,123 |
Total assets | 3,700,840 | 3,469,104 |
LIABILITIES AND SHAREHOLDER'S EQUITY | ' | ' |
Current portion of long-term debt | 106,402 | 38,092 |
Accounts payable | 112,522 | 124,532 |
Accrued compensation and benefits | 95,866 | 86,064 |
Deferred revenue | 159,295 | 138,920 |
Accrued warranty expense | 17,781 | 17,066 |
Other current liabilities | 85,124 | 63,996 |
Total current liabilities | 576,990 | 468,670 |
Non-current portion of long-term debt | 652,056 | 873,066 |
Non-current deferred revenue | 20,431 | 7,262 |
Deferred income tax liabilities | 136,399 | 148,260 |
Other non-current liabilities | 80,982 | 58,322 |
Total liabilities | 1,466,858 | 1,555,580 |
Commitments and contingencies | ' | ' |
Shareholders’ equity: | ' | ' |
Preferred stock no par value; 3,000 shares authorized; none outstanding | 0 | 0 |
Common stock, no par value; 360,000 shares authorized; 258,711 and 254,486 shares issued and outstanding at the end of fiscal 2013 and 2012, respectively | 1,106,017 | 1,006,818 |
Retained earnings | 1,081,695 | 868,026 |
Accumulated other comprehensive income | 33,194 | 22,611 |
Total Trimble Navigation Ltd. shareholders’ equity | 2,220,906 | 1,897,455 |
Noncontrolling interests | 13,076 | 16,069 |
Total shareholders' equity | 2,233,982 | 1,913,524 |
Total liabilities and shareholders’ equity | $3,700,840 | $3,469,104 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Preferred stock, no par value | $0 | $0 |
Preferred stock, shares authorized | 3,000 | 3,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, no par value | $0 | $0 |
Common stock, shares authorized | 360,000 | 360,000 |
Common stock, shares issued | 258,711 | 254,486 |
Common stock, shares outstanding | 258,711 | 254,486 |
Allowance for Doubtful Accounts [Member] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $6,317 | $6,318 |
Allowance for Sales Returns [Member] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $3,190 | $2,763 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |||
Income Statement [Abstract] | ' | ' | ' | |||
Product | $1,649,965 | $1,566,975 | $1,345,876 | |||
Service | 364,274 | 262,889 | 159,095 | |||
Subscription | 273,885 | 210,249 | 139,094 | |||
Total revenues | 2,288,124 | [1] | 2,040,113 | [1] | 1,644,065 | [1] |
Product | 776,597 | 767,526 | 663,868 | |||
Service | 141,904 | 100,286 | 71,470 | |||
Subscription | 84,682 | 65,847 | 41,949 | |||
Amortization of purchased intangible assets | 81,119 | 60,277 | 37,197 | |||
Total cost of sales | 1,084,302 | 993,936 | 814,484 | |||
Gross margin | 1,203,822 | 1,046,177 | 829,581 | |||
Operating expense | ' | ' | ' | |||
Research and development | 299,421 | 256,458 | 197,007 | |||
Sales and marketing | 348,106 | 313,692 | 266,804 | |||
General and administrative | 216,876 | 195,802 | 158,375 | |||
Restructuring charges | 5,960 | 2,227 | 2,288 | |||
Amortization of purchased intangible assets | 81,722 | 65,430 | 48,705 | |||
Total operating expense | 952,085 | 833,609 | 673,179 | |||
Operating income | 251,737 | 212,568 | 156,402 | |||
Non-operating income, net | ' | ' | ' | |||
Interest expense, net | -17,582 | -16,357 | -7,277 | |||
Foreign currency transaction gain (loss), net | -954 | -2,526 | 1,053 | |||
Income from equity method investments, net | 20,680 | 24,727 | 15,349 | |||
Other income (loss), net | -1,017 | 11,012 | 1,927 | |||
Total non-operating income, net | 1,127 | 16,856 | 11,052 | |||
Income before taxes | 252,864 | 229,424 | 167,454 | |||
Income tax provision | 34,698 | 39,708 | 18,545 | |||
Net income | 218,166 | 189,716 | 148,909 | |||
Less: Net loss attributable to noncontrolling interests | -689 | -1,344 | -1,846 | |||
Net income attributable to Trimble Navigation Ltd. | $218,855 | $191,060 | $150,755 | |||
Basic earnings per share | $0.85 | $0.76 | $0.61 | |||
Shares used in calculating basic earnings per share | 256,648 | 251,132 | 245,450 | |||
Diluted earnings per share | $0.84 | $0.74 | $0.60 | |||
Shares used in calculating diluted earnings per share | 261,206 | 256,774 | 252,266 | |||
[1] | Revenue is attributed to countries based on the location of the customer. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Net income | $218,166 | $189,716 | $148,909 |
Foreign currency translation adjustments, net of tax of $(553) in 2013, $564 in 2012, and $(3,899) in 2011 | 10,221 | 17,985 | -42,328 |
Net unrealized actuarial gain (loss) | 362 | -514 | -559 |
Comprehensive income | 228,749 | 207,187 | 106,022 |
Less: Comprehensive loss attributable to the noncontrolling interests | -689 | -1,344 | -1,846 |
Comprehensive income attributable to Trimble Navigation Ltd. | $229,438 | $208,531 | $107,868 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Supplemental Income Statement Elements [Abstract] | ' | ' | ' |
Foreign currency translation adjustments, net of tax of $(553) in 2013, $564 in 2012, and $(3,899) in 2011 | ($553) | $564 | ($3,899) |
Consolidated_Statements_Of_Sha
Consolidated Statements Of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Common stock, including APIC | Retained Earnings [Member] | Accumulated Other Comprehensive Income/(Loss) [Member] | Parent [Member] | Noncontrolling Interest [Member] |
In Thousands | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Balance at Dec. 31, 2010 | $1,385,699 | ' | $781,779 | $536,350 | $48,027 | $1,366,156 | $19,543 |
Balance, shares at Dec. 31, 2010 | ' | 241,878 | ' | ' | ' | ' | ' |
Net income | 148,909 | ' | ' | 150,755 | ' | 150,755 | -1,846 |
Other comprehensive income | -42,887 | ' | ' | ' | -42,887 | -42,887 | ' |
Comprehensive income | 106,022 | ' | ' | ' | ' | 107,868 | ' |
Issuance of common stock under employee plans, net of tax withholdings | 45,869 | ' | 47,335 | ' | ' | 45,869 | ' |
Issuance of common stock under employee plans, net of tax withholdings | ' | ' | ' | -1,466 | ' | ' | ' |
Issuance of common stock under employee plans, net of tax withholdings, shares | ' | 5,448 | ' | ' | ' | ' | ' |
Stock based compensation | 28,759 | ' | 28,759 | ' | ' | 28,759 | ' |
Noncontrolling interest investments, Increase | 1,912 | ' | ' | ' | ' | 0 | 1,912 |
Tax benefit from stock option exercises | 20,641 | ' | 20,641 | ' | ' | 20,641 | ' |
Balance at Dec. 30, 2011 | 1,588,902 | ' | 878,514 | 685,639 | 5,140 | 1,569,293 | 19,609 |
Balance, shares at Dec. 30, 2011 | ' | 247,326 | ' | ' | ' | ' | ' |
Net income | 189,716 | ' | ' | 191,060 | ' | 191,060 | -1,344 |
Other comprehensive income | 17,471 | ' | ' | ' | 17,471 | 17,471 | ' |
Comprehensive income | 207,187 | ' | ' | ' | ' | 208,531 | ' |
Issuance of common stock under employee plans, net of tax withholdings | 59,187 | ' | 67,860 | ' | ' | 59,187 | ' |
Issuance of common stock under employee plans, net of tax withholdings | ' | ' | ' | -8,673 | ' | ' | ' |
Issuance of common stock under employee plans, net of tax withholdings, shares | ' | 7,160 | ' | ' | ' | ' | ' |
Stock based compensation | 32,808 | ' | 32,808 | ' | ' | 32,808 | ' |
Noncontrolling interest investments, Increase | ' | ' | 103 | ' | ' | 103 | ' |
Noncontrolling interest investments Decrease | -2,093 | ' | ' | ' | ' | ' | -2,196 |
Tax benefit from stock option exercises | 27,533 | ' | 27,533 | ' | ' | 27,533 | ' |
Balance at Dec. 28, 2012 | 1,913,524 | ' | 1,006,818 | 868,026 | 22,611 | 1,897,455 | 16,069 |
Balance, shares at Dec. 28, 2012 | 254,486 | 254,486 | ' | ' | ' | ' | ' |
Net income | 218,166 | ' | ' | 218,855 | ' | 218,855 | -689 |
Other comprehensive income | 10,583 | ' | ' | ' | 10,583 | 10,583 | ' |
Comprehensive income | 228,749 | ' | ' | ' | ' | 229,438 | ' |
Issuance of common stock under employee plans, net of tax withholdings | 47,707 | ' | 52,893 | ' | ' | 47,707 | ' |
Issuance of common stock under employee plans, net of tax withholdings | ' | ' | ' | -5,186 | ' | ' | ' |
Issuance of common stock under employee plans, net of tax withholdings, shares | ' | 4,225 | ' | ' | ' | ' | ' |
Stock based compensation | 36,604 | ' | 36,604 | ' | ' | 36,604 | ' |
Noncontrolling interest investments Decrease | -6,531 | ' | -4,227 | ' | ' | -4,227 | -2,304 |
Tax benefit from stock option exercises | 13,929 | ' | 13,929 | ' | ' | 13,929 | ' |
Balance at Jan. 03, 2014 | $2,233,982 | ' | $1,106,017 | $1,081,695 | $33,194 | $2,220,906 | $13,076 |
Balance, shares at Jan. 03, 2014 | 258,711 | 258,711 | ' | ' | ' | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $218,166 | $189,716 | $148,909 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation expense | 26,736 | 23,691 | 20,509 |
Amortization expense | 162,841 | 125,707 | 85,902 |
Provision for doubtful accounts | 1,909 | 2,030 | 1,913 |
Deferred income taxes | -14,963 | -1,369 | -26,305 |
Stock-based compensation | 36,442 | 32,660 | 28,451 |
Income from equity method investments | -20,680 | -24,727 | -15,349 |
Acquisition / divestiture (gain)/loss | 1,430 | -7,257 | -264 |
Excess tax benefit for stock-based compensation | -13,540 | -25,345 | -14,762 |
Provision for excess and obsolete inventories | 3,157 | 6,234 | 8,410 |
Other non-cash items | -657 | -4,221 | 2,407 |
Add decrease (increase) in assets: | ' | ' | ' |
Accounts receivable | -4,070 | -24,388 | -31,874 |
Other receivables | 2,302 | -5,017 | 30,141 |
Inventories | -11,351 | -8,402 | -30,139 |
Other current and non-current assets | -11,811 | -7,945 | 10,519 |
Add increase (decrease) in liabilities: | ' | ' | ' |
Accounts payable | -15,834 | 25,985 | -4,310 |
Accrued compensation and benefits | 4,047 | 7,889 | 2,469 |
Deferred revenue | 29,394 | 16,560 | 18,775 |
Accrued warranty expense | 675 | -1,520 | 644 |
Accrued liabilities | 20,442 | 20,419 | 5,583 |
Net cash provided by operating activities | 414,635 | 340,700 | 241,629 |
Cash flows from investing activities: | ' | ' | ' |
Acquisitions of businesses, net of cash acquired | -258,797 | -728,114 | -759,737 |
Acquisitions of property and equipment | -70,877 | -54,071 | -23,278 |
Dividends received from equity method investments | 7,672 | 13,178 | 12,398 |
Other | -2,762 | 4,721 | -2,948 |
Net cash used in investing activities | -324,764 | -764,286 | -773,565 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of common stock, net of tax withholdings | 47,707 | 59,187 | 45,869 |
Excess tax benefit for stock-based compensation | 13,540 | 25,345 | 14,762 |
Proceeds from debt and revolving credit lines | 407,678 | 1,199,352 | 734,225 |
Payments on debt and revolving credit lines | -567,344 | -857,477 | -330,689 |
Net cash provided by (used in) financing activities | -98,419 | 426,407 | 464,167 |
Effect of exchange rate changes on cash and cash equivalents | -1,996 | 329 | 1,602 |
Net increase (decrease) in cash and cash equivalents | -10,544 | 3,150 | -66,167 |
Cash and cash equivalents, beginning of fiscal year | 157,771 | 154,621 | 220,788 |
Cash and cash equivalents, end of fiscal year | $147,227 | $157,771 | $154,621 |
Description_Of_Business
Description Of Business | 12 Months Ended |
Jan. 03, 2014 | |
Description Of Business [Abstract] | ' |
Description Of Business | ' |
DESCRIPTION OF BUSINESS | |
Trimble Navigation Limited (Trimble or the Company) began operations in 1978 and incorporated in California in 1981. The Company provides technology solutions that enable professionals and field mobile workers to improve or transform their work processes. The solutions are used across a range of industries including agriculture, architecture, civil engineering, construction, environmental management, government, natural resources, transportation and utilities. Representative customers include engineering and construction firms, contractors, surveying companies, farmers and agricultural companies, enterprise firms with large-scale fleets, energy, mining and utility companies, and state, federal and municipal governments. | |
Products are sold based on return on investment and frequently provide benefits such as lower operational costs, higher productivity, improved quality, enhanced safety and compliance and reduced environmental impact. Product examples include: equipment that automates large industrial equipment such as tractors and bulldozers; surveying instruments; integrated systems that track fleets of vehicles and workers and provide real-time information and powerful analytics to the back-office; data collection systems that enable the management of large amounts of geo-referenced information; software solutions that connect all aspects of a construction site or farm; and building information modeling (BIM) software that is used throughout the design, build, and operation of buildings. The Company also manufacture components for in-vehicle navigation and telematics systems and timing modules used in the synchronization of wireless networks. |
Accounting_Policies
Accounting Policies | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Accounting Policies | ' | |||||||
ACCOUNTING POLICIES | ||||||||
Use of Estimates | ||||||||
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are used for allowances for doubtful accounts, sales returns reserve, allowances for inventory valuation, warranty costs, investments, goodwill impairment, intangibles impairment, purchased intangibles, stock-based compensation, and income taxes among others. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Although these estimates are based on management’s best knowledge of current events and actions that may impact the company in the future, actual results may differ materially from management’s estimates. | ||||||||
Basis of Presentation | ||||||||
The Company has a 52-53 week fiscal year, ending on the Friday nearest to December 31. Fiscal 2013 was a 53-week year and ended on January 3, 2014. Fiscal 2012 and 2011 were both 52-week years, and ended on December 28, 2012 and December 30, 2011, respectively. Unless otherwise stated, all dates refer to the Company’s fiscal year. | ||||||||
These Consolidated Financial Statements include the results of the Company and its consolidated subsidiaries. Inter-company accounts and transactions have been eliminated. Noncontrolling interests represent the noncontrolling shareholders’ proportionate share of the net assets and results of operations of the Company’s consolidated subsidiaries. | ||||||||
The Company has evaluated all subsequent events through the date that these financial statements have been filed with the Securities and Exchange Commission (“SEC”). | ||||||||
The Company has presented revenue and cost of sales separately for products, service and subscriptions. Product revenue includes primarily hardware, software licenses, parts and accessories; service revenue includes primarily hardware and software maintenance and support, training and professional services; subscription revenue includes software as a service (SaaS). | ||||||||
On March 20, 2013 the Company effected a 2-for-1 split of all outstanding shares of Common Stock. All shares and per share information presented has been adjusted to reflect the stock split on a retroactive basis for all periods presented. | ||||||||
Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation, including certain line items within the Consolidated Statement of Cash Flows as well as the components of deferred taxes in Note 10. | ||||||||
Foreign Currency Translation | ||||||||
Assets and liabilities of non-U.S. subsidiaries that operate in local currencies are translated to U.S. dollars at exchange rates in effect at the balance sheet date, with the resulting translation adjustments directly recorded to a separate component of accumulated other comprehensive income, net of tax in accumulated other comprehensive income within the shareholders’ equity section of the Consolidated Balance Sheets. Income and expense accounts are translated at average monthly exchange rates during the year. | ||||||||
Cash and Cash Equivalents | ||||||||
Cash and cash equivalents include all cash and highly liquid investments with insignificant interest rate risk and maturities of three months or less at the date of purchase. The carrying amount of cash and cash equivalents approximates fair value because of the short maturity of those instruments. | ||||||||
Concentration of Risk | ||||||||
Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and therefore bear minimal credit risk. | ||||||||
The Company is also exposed to credit risk in the Company’s trade receivables, which are derived from sales to end-user customers in diversified industries as well as various resellers. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended when deemed necessary but generally does not require collateral. | ||||||||
With Flextronics Corporation International as an exclusive manufacturing partner for many of its products, the Company is dependent upon a sole supplier for the manufacture of these products. In addition, the Company relies on sole suppliers for a number of its critical components. | ||||||||
Allowance for Doubtful Accounts | ||||||||
The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. | ||||||||
The Company evaluates the ongoing collectibility of its trade accounts receivable based on a number of factors such as age of the accounts receivable balances, credit quality, historical experience, and current economic conditions that may affect a customer’s ability to pay. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations to the Company, a specific allowance for bad debts is estimated and recorded which reduces the recognized receivable to the estimated amount that the Company believes will ultimately be collected. In addition to specific customer identification of potential bad debts, bad debt charges are recorded based on the Company’s recent past loss history and an overall assessment of past due trade accounts receivable amounts outstanding. | ||||||||
Inventories | ||||||||
Inventories are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or market. Adjustments are also made to reduce the cost of inventory for estimated excess or obsolete balances. Factors influencing these adjustments include declines in demand, technological changes, product life cycle and development plans, component cost trends, product pricing, physical deterioration and quality issues. | ||||||||
Business Combinations | ||||||||
The Company allocates the fair value of purchase consideration to the assets acquired, liabilities assumed, and non-controlling interests in the acquiree generally based on their fair values at the acquisition date. The excess of the fair value of purchase consideration over the fair value of these assets acquired, liabilities assumed and non-controlling interests in the acquiree is recorded as goodwill. | ||||||||
When determining the fair values of assets acquired, liabilities assumed, and non-controlling interests in the acquiree, management makes significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing intangible assets include, but are not limited to, expected future cash flows, which includes consideration of future growth rates and margins, attrition rates, future changes in technology and brand awareness, loyalty and position, and discount rates. Fair value estimates are based on the assumptions management believes a market participant would use in pricing the asset or liability. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. | ||||||||
Goodwill and Purchased Intangible Assets | ||||||||
Goodwill represents the excess of the purchase consideration over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. Intangible assets acquired individually, with a group of other assets, or in a business combination are recorded at fair value. Identifiable intangible assets are comprised of distribution channels and distribution rights, patents, licenses, technology, acquired backlog, trademarks and in-process research and development. Identifiable intangible assets are being amortized over the period of estimated benefit using the straight-line method, reflecting the pattern of economic benefits associated with these assets, and have estimated useful lives ranging from one month to twelve years with a weighted average useful life of 6.4 years. Goodwill is not subject to amortization, but is subject to at least an annual assessment for impairment, applying a fair-value based test. | ||||||||
Impairment of Goodwill, Intangible Assets and Other Long-Lived Assets | ||||||||
The Company evaluates goodwill, at a minimum, on an annual basis and whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. The Company performs its annual goodwill impairment testing in the fourth fiscal quarter of each year based on the values on the first day of that quarter. For the Company's annual goodwill impairment test in the fourth quarter of fiscal 2013, the Company chose not to perform the optional qualitative assessment for any of its reporting units. Instead, goodwill was reviewed for impairment utilizing a quantitative two-step process. In the first step of this test, goodwill is tested for impairment at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. The fair values of the reporting units are estimated using a discounted cash flow approach. If the carrying amount of the reporting unit exceeds its fair value, a second step is performed to measure the amount of impairment loss, if any. In step two, the implied fair value of goodwill is calculated as the excess of the fair value of a reporting unit over the fair values assigned to its assets and liabilities. If the implied fair value of goodwill is less than the carrying value of the reporting unit’s goodwill, the difference is recognized as an impairment loss. When the Company performs a quantitative assessment of goodwill impairment, the determination of fair value of a reporting unit involves the use of significant estimates and assumptions. The discounted cash flows are based upon, among other things, assumptions about expected future operating performance using risk-adjusted discount rates. Actual future results may differ from those estimates. As of the first day of the fourth quarter of fiscal 2013, for each reporting unit, the Company’s estimated fair values exceeded the carrying values by substantial margins on a percentage basis. This includes the results for certain earlier stage reporting units, which due to the smaller magnitude of the carrying value and fair value of each respective reporting unit, the margins by which the fair value exceeded the carrying value on an absolute dollar basis were relatively small. | ||||||||
Depreciation and amortization of the Company’s intangible assets and other long-lived assets is provided using the straight-line method over their estimated useful lives, reflecting the pattern of economic benefits associated with these assets. Changes in circumstances such as technological advances, changes to the Company’s business model, or changes in the capital strategy could result in the actual useful lives differing from initial estimates. In those cases where the Company determines that the useful life of an asset should be revised, the Company will depreciate the net book value in excess of the estimated residual value over its revised remaining useful life. These assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The estimated future cash flows are based upon, among other things, assumptions about expected future operating performance and may differ from actual cash flows. The assets evaluated for impairment are grouped with other assets to the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. If the sum of the projected undiscounted cash flows (excluding interest) is less than the carrying value of the assets, the assets will be written down to the estimated fair value. | ||||||||
Revenue Recognition | ||||||||
The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when persuasive evidence of an arrangement exists, shipment has occurred, the fee is fixed or determinable, and collectibility is reasonably assured. In instances where final acceptance of the product is specified by the customer or is uncertain, revenue is deferred until all acceptance criteria have been met. | ||||||||
Contracts and/or customer purchase orders are used to determine the existence of an arrangement. Shipping documents and customer acceptance, when applicable, are used to verify delivery. The Company assesses whether the fee is fixed or determinable based on the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment. The Company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analyses, as well as the customer’s payment history. | ||||||||
Revenue for orders is generally not recognized until the product is shipped and title has transferred to the buyer. The Company bears all costs and risks of loss or damage to the goods up to that point. The Company’s shipment terms for U.S. orders and international orders fulfilled from the Company’s European distribution center typically provide that title passes to the buyer upon delivery of the goods to the carrier named by the buyer at the named place or point. If no precise point is indicated by the buyer, delivery is deemed to occur when the carrier takes the goods into its charge from the place determined by the Company. Other shipment terms may provide that title passes to the buyer upon delivery of the goods to the buyer. Shipping and handling costs are included in Cost of sales. | ||||||||
Revenue from sales to distributors and dealers is recognized upon shipment, assuming all other criteria for revenue recognition have been met. Distributors and dealers do not have a right of return. | ||||||||
Revenue from purchased extended warranty and post contract support (PCS) agreements is deferred and recognized ratably over the term of the warranty or support period. Revenue from the Company's subscription services related to its hardware and software applications is recognized ratably over the term of the subscription service period beginning on the date that service is made available to the customer, assuming all revenue recognition criteria have been met. | ||||||||
The Company presents revenue net of sales taxes and any similar assessments. | ||||||||
The Company’s software arrangements generally consist of a perpetual license fee and PCS. The Company generally has established vendor-specific objective evidence (VSOE) of fair value for the Company’s PCS contracts based on the renewal rate. The remaining value of the software arrangement is allocated to the license fee using the residual method. License revenue is primarily recognized when the software has been delivered and fair value has been established for all remaining undelivered elements. In cases where VSOE of fair value for PCS is not established, revenue is recognized ratably over the PCS period after all software deliverables have been made and the only the undelivered element is PCS. | ||||||||
Some of the Company’s subscription product offerings include hardware, subscription services and extended warranty. Under these hosted arrangements, the customer typically does not have the contractual right to take possession of the software at any time during the hosting period without incurring a significant penalty and it is not feasible for the customer to run the software either on its own hardware or on a third-party’s hardware. | ||||||||
The Company’s multiple deliverable product offerings include hardware with embedded firmware, extended warranty, software, PCS and subscription services, which are considered separate units of accounting. For certain of the Company’s products, software and non-software components function together to deliver the tangible product’s essential functionality. | ||||||||
In evaluating the revenue recognition for the Company's hardware or subscription agreements which contain multiple deliverable arrangements, the Company determined that in certain instances the Company was not able to establish VSOE for some or all deliverables in an arrangement as the Company infrequently sold each element on a standalone basis, did not price products within a narrow range, or had a limited sales history. When VSOE cannot be established, the Company attempts to establish the selling price of each element based on relevant third-party evidence (TPE). TPE is determined based on competitor prices for similar deliverables when sold separately. Generally, the Company’s go-to-market strategy differs from that of competitors, and offerings may contain a significant level of proprietary technology, customization or differentiation such that the comparable pricing of products with similar functionality cannot be obtained. Furthermore, the Company is unable to reliably determine what similar competitor products’ selling prices are on a stand-alone basis. Therefore, the Company typically is not able to establish the selling price of an element based on TPE. | ||||||||
When the Company is unable to establish selling price using VSOE or TPE, the Company uses its best estimate of selling price (BESP) in the Company’s allocation of arrangement consideration. The objective of BESP is to determine the price at which the Company would transact a sale if the product or service were sold on a stand-alone basis. BESP is generally used for offerings that are not typically sold on a stand-alone basis or for new or highly customized offerings. The Company determines BESP for a product or service by considering multiple factors including, but not limited to, pricing practices, market conditions, competitive landscape, internal costs, geographies and gross margin. The determination of BESP is made through consultation with and formal approval by the Company’s management, taking into consideration the Company’s go-to-market strategy. | ||||||||
Warranty | ||||||||
The Company accrues for warranty costs as part of its cost of sales based on associated material product costs, technical support labor costs, and costs incurred by third parties performing work on the Company’s behalf. The Company’s expected future cost is primarily estimated based upon historical trends in the volume of product returns within the warranty period and the cost to repair or replace the equipment. The products sold are generally covered by a warranty for periods ranging from 90 days to 5.5 years. | ||||||||
While the Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of component suppliers, its warranty obligation is affected by product failure rates, material usage, and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage, or service delivery costs differ from the estimates, revisions to the estimated warranty accrual and related costs may be required. | ||||||||
Changes in the Company’s product warranty liability during the fiscal years ended 2013 and 2012 are as follows: | ||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Beginning balance | $ | 17,066 | $ | 18,444 | ||||
Acquired warranties | 154 | 62 | ||||||
Accruals for warranties issued | 20,356 | 21,909 | ||||||
Changes in estimates | 402 | (1,091 | ) | |||||
Warranty settlements (in cash or in kind) | (20,197 | ) | (22,258 | ) | ||||
Ending Balance | $ | 17,781 | $ | 17,066 | ||||
Guarantees, Including Indirect Guarantees of Indebtedness of Others | ||||||||
In the normal course of business to facilitate sales of its products, the Company indemnifies other parties, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed to hold the other party harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors, and the Company’s bylaws contain similar indemnification obligations to the Company’s agents. | ||||||||
It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not been material and no liabilities have been recorded on the Consolidated Balance Sheets at the end of fiscal 2013 and 2012. | ||||||||
Advertising Costs | ||||||||
The Company expenses all advertising costs as incurred. Advertising expense was approximately $33.8 million, $32.9 million, and $23.7 million, in fiscal 2013, 2012 and 2011, respectively. | ||||||||
Research and Development Costs | ||||||||
Research and development costs are charged to expense as incurred. Cost of software developed for external sale subsequent to reaching technical feasibility were not significant and were expensed as incurred. The Company received third party funding of approximately $5.1 million, $3.5 million, and $7.8 million in fiscal 2013, 2012 and 2011, respectively. The Company offsets research and development expense with any third party funding earned. The Company retains the rights to any technology developed under such arrangements. | ||||||||
Stock-Based Compensation | ||||||||
The Company has employee stock benefit plans, which are described more fully in “Note 12: Employee Stock Benefit Plans.” Stock compensation expense recognized in the Consolidated Statements of Income is based on the fair value of the portion of share-based payment awards that is expected to vest during the period and is net of estimated forfeitures. The Company attributes the value of stock options to expense using the straight-line single option method. The grant date fair value for options is estimated using the binomial valuation model. The fair value of rights to purchase shares under the Employee Stock Purchase Plan is estimated using the Black-Scholes option-pricing model. | ||||||||
Property and Equipment, Net | ||||||||
Property and equipment, net is stated at cost less accumulated depreciation. Depreciation of property and equipment owned is computed using the straight-line method over the shorter of the estimated useful lives or the lease terms when applicable. Useful lives generally include a range from four to six years for machinery and equipment, five to seven years for furniture and fixtures, two to five years for computer equipment and software, 39 years for buildings, and the life of the lease for leasehold improvements. The Company capitalizes eligible costs to acquire or develop internal-use software that are incurred subsequent to the preliminary project stage. Capitalized costs related to internal-use software are amortized using the straight-line method over the estimated useful lives of the assets, which range generally from two to five years. The costs of repairs and maintenance are expensed when incurred, while expenditures for refurbishments and improvements that significantly add to the productive capacity or extend the useful life of an asset are capitalized. Depreciation expense was $26.7 million in fiscal 2013, $23.7 million in fiscal 2012 and $20.5 million in fiscal 2011. | ||||||||
Derivative Financial Instruments | ||||||||
The Company enters into foreign exchange forward contracts to minimize the short-term impact of foreign currency fluctuations on cash, certain trade and inter-company receivables and payables, primarily denominated in Australian, Canadian, Singapore and New Zealand Dollars, Japanese Yen, Chinese Yuan, Indian Rupee, Brazilian Real, South African Rand, Swedish Krona, Swiss Franc, Euro and British pound. These contracts reduce the exposure to fluctuations in exchange rate movements as the gains and losses associated with foreign currency balances are generally offset with the gains and losses on the forward contracts. These instruments are marked to market through earnings every period and generally range from one to three months in original maturity. The Company occasionally enters into foreign exchange forward contracts to hedge the purchase price of some of its larger business acquisitions. The Company does not enter into foreign exchange forward contracts for trading purposes. | ||||||||
Income Taxes | ||||||||
Income taxes are accounted for under the liability method whereby deferred tax assets or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect for the year in which the differences are expected to affect taxable income. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not such assets will not be realized. The Company’s valuation allowance is primarily attributable to foreign net operating losses and state research and development credit carryforwards. Management believes that it is more likely than not that the Company will not realize certain of these deferred tax assets, and, accordingly, a valuation allowance has been provided for such amounts. Valuation allowance adjustments associated with an acquisition after the measurement period are recorded through income tax expense. | ||||||||
Relative to uncertain tax positions, the Company only recognizes the tax benefit if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. See Note 10 to the Consolidated Financial Statements for additional information. | ||||||||
Computation of Earnings Per Share | ||||||||
The number of shares used in the calculation of basic earnings per share represents the weighted average common shares outstanding during the period and excludes any potentially dilutive securities including outstanding stock options, shares to be purchased under the Company’s employee stock purchase plan, unvested restricted stock units and restricted stock awards, warrants, and convertible securities. The dilutive effects of outstanding stock options, shares to be purchased under the Company’s employee stock purchase plan, non-vested restricted stock units and restricted stock awards, warrants, and convertible securities are included in diluted earnings per share. | ||||||||
Recent Accounting Pronouncements | ||||||||
In July 2013, the Financial Accounting Standards Board ("FASB") issued a new accounting standard that will generally require the presentation of certain unrecognized tax benefits as reductions to deferred tax assets rather than as liabilities in the Consolidated Balance Sheets when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Trimble will adopt this new standard on a prospective basis in the first quarter of fiscal 2014. The Company does not anticipate a material impact on its consolidated financial statements as a result of this change. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
EARNINGS PER SHARE | ||||||||||||
Basic earnings per share is computed by dividing Net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing Net income by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, shares to be purchased under the Company’s employee stock purchase plan and unvested restricted stock units. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. | ||||||||||||
The following table shows the computation of basic and diluted earnings per share: | ||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands, except per share data) | ||||||||||||
Numerator: | ||||||||||||
Net income attributable to Trimble Navigation Ltd. | $ | 218,855 | $ | 191,060 | $ | 150,755 | ||||||
Denominator: | ||||||||||||
Weighted average number of common shares used in basic earnings per share | 256,648 | 251,132 | 245,450 | |||||||||
Effect of dilutive securities | 4,558 | 5,642 | 6,816 | |||||||||
Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share | 261,206 | 256,774 | 252,266 | |||||||||
Basic earnings per share | $ | 0.85 | $ | 0.76 | $ | 0.61 | ||||||
Diluted earnings per share | $ | 0.84 | $ | 0.74 | $ | 0.6 | ||||||
For fiscal 2013, 2012 and 2011 the Company excluded 3.1 million shares, 4.8 million shares and 3.8 million shares of outstanding stock options, respectively, from the calculation of diluted earnings per share because their effect would have been antidilutive. |
Business_Combinations
Business Combinations | 12 Months Ended | |||||||||||||||||||||||
Jan. 03, 2014 | ||||||||||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||||||||||
Business Combinations | ' | |||||||||||||||||||||||
NOTE 4: BUSINESS COMBINATIONS | ||||||||||||||||||||||||
During fiscal 2013, 2012 and 2011 the Company acquired multiple businesses, all with cash consideration. The Consolidated Statements of Income include the operating results of the businesses from the dates of acquisition. | ||||||||||||||||||||||||
During fiscal 2013, the Company acquired sixteen businesses across its Engineering and Construction, Field Solutions, and Mobile Solutions segments. None of the acquisitions were significant individually or in the aggregate. The purchase prices ranged from less than $0.5 million to $80.0 million. The largest acquisitions were of a company that provides product and pricing information to the MEP industry within the Engineering and Construction segment, and a software for logistics provider within the Mobile Solutions segment. In the aggregate, the business acquired during fiscal 2013 collectively contributed less than three percent to the Company's total revenue during fiscal 2013. | ||||||||||||||||||||||||
During fiscal 2012 none of the acquisitions completed were significant individually, but in the aggregate they were significant. TMW, representing 45% of the total cash consideration, was the largest of the 2012 acquisitions, and related information is presented below. During fiscal 2011, each of the acquisitions was not material individually except for the acquisition of Tekla Corporation (“Tekla”) in July 2011, which related information is presented below. | ||||||||||||||||||||||||
The Company determined the total consideration paid for each of its acquisitions as well as the fair value of the assets acquired and liabilities assumed as of the date of each acquisition. For certain acquisitions completed in fiscal 2013, the fair value of the assets acquired and liabilities assumed are preliminary and may be adjusted as the Company obtains additional information, primarily related to adjustments for the true up of acquired net working capital in accordance with certain purchase agreements, and estimated values of certain net tangible assets and liabilities including tax balances, pending the completion of final studies and analyses. If there are adjustments made for these items the fair value of intangible assets and goodwill could be impacted. Thus the provisional measurements of fair value set forth below are subject to change. Such changes could be significant. The Company expects to finalize the valuation of the net tangible and intangible assets as soon as practicable, but not later than one-year from the acquisition date. | ||||||||||||||||||||||||
The fair value of identifiable assets acquired and liabilities assumed were determined under the acquisition method of accounting for business combinations. The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The fair value of intangible assets acquired is generally determined based on a discounted cash flow analysis. Acquisition costs directly related to the acquisitions of $13.5 million, $20.5 million and $14.9 million in fiscal 2013, 2012, and 2011, respectively were expensed as incurred and were included in General and administrative expenses in the Consolidated Statements of Income. | ||||||||||||||||||||||||
The following table summarizes the Company’s business combinations completed during fiscal 2013, 2012 and 2011 including TMW and Tekla: | ||||||||||||||||||||||||
(in thousands) | Fiscal 2013 | Fiscal 2012 | Fiscal 2011 | |||||||||||||||||||||
Fair value of total purchase consideration | $ | 284,710 | $ | 747,822 | $ | 797,801 | ||||||||||||||||||
Fair value of net assets acquired | 20,919 | 28,846 | 23,121 | |||||||||||||||||||||
Identified intangible assets | 130,063 | 284,861 | 374,928 | |||||||||||||||||||||
Deferred taxes | (26,326 | ) | (69,774 | ) | (96,330 | ) | ||||||||||||||||||
Noncontrolling interest | (1,968 | ) | (387 | ) | — | |||||||||||||||||||
Goodwill | $ | 162,022 | $ | 504,276 | $ | 496,082 | ||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||
The following table presents details of the Company’s total intangible assets: | ||||||||||||||||||||||||
At the End of Fiscal 2013 | At the End of Fiscal 2012 | |||||||||||||||||||||||
(in thousands) | Gross Carrying | Accumulated | Net Carrying | Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||
Developed product technology | $ | 699,479 | $ | (363,389 | ) | $ | 336,090 | $ | 610,643 | $ | (267,952 | ) | $ | 342,691 | ||||||||||
Trade names and trademarks | 46,195 | (28,699 | ) | 17,496 | 42,512 | (23,241 | ) | 19,271 | ||||||||||||||||
Customer relationships | 424,630 | (189,338 | ) | 235,292 | 385,269 | (135,571 | ) | 249,698 | ||||||||||||||||
Distribution rights and other intellectual properties | 79,844 | (49,323 | ) | 30,521 | 72,510 | (39,751 | ) | 32,759 | ||||||||||||||||
$ | 1,250,148 | $ | (630,749 | ) | $ | 619,399 | $ | 1,110,934 | $ | (466,515 | ) | $ | 644,419 | |||||||||||
The weighted-average amortization period is six years for developed product technology, five years for trade names and trademarks, eight years for customer relationships, and seven years for distribution rights and other intellectual properties. | ||||||||||||||||||||||||
The following table presents details of the amortization expense of purchased and other intangible assets as reported in the Consolidated Statements of Income: | ||||||||||||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Reported as: | ||||||||||||||||||||||||
Cost of sales | $ | 81,119 | $ | 60,277 | $ | 37,197 | ||||||||||||||||||
Operating expenses | 81,722 | 65,430 | 48,705 | |||||||||||||||||||||
Total | $ | 162,841 | $ | 125,707 | $ | 85,902 | ||||||||||||||||||
The estimated future amortization expense of intangible assets at the end of fiscal 2013, is as follows (in thousands): | ||||||||||||||||||||||||
2014 | $ | 151,661 | ||||||||||||||||||||||
2015 | 138,975 | |||||||||||||||||||||||
2016 | 119,502 | |||||||||||||||||||||||
2017 | 97,629 | |||||||||||||||||||||||
2018 | 68,103 | |||||||||||||||||||||||
Thereafter | 43,529 | |||||||||||||||||||||||
Total | $ | 619,399 | ||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||
The changes in the carrying amount of goodwill for fiscal 2013 are as follows (in thousands): | ||||||||||||||||||||||||
Engineering | Field | Mobile | Advanced | Total | ||||||||||||||||||||
and | Solutions | Solutions | Devices | |||||||||||||||||||||
Construction | ||||||||||||||||||||||||
At the end of fiscal 2012 | $ | 958,103 | $ | 68,684 | $ | 763,386 | $ | 25,526 | $ | 1,815,699 | ||||||||||||||
Additions due to acquisitions | 109,119 | 18,513 | 34,390 | — | 162,022 | |||||||||||||||||||
Purchase price adjustments | 26 | — | 441 | 35 | 502 | |||||||||||||||||||
Foreign currency translation adjustments | 12,992 | 1,454 | (2,123 | ) | (1,076 | ) | 11,247 | |||||||||||||||||
At the end of fiscal 2013 | $ | 1,080,240 | $ | 88,651 | $ | 796,094 | $ | 24,485 | $ | 1,989,470 | ||||||||||||||
TMW and Tekla Acquisitions | ||||||||||||||||||||||||
On October 2, 2012, the Company acquired all the outstanding shares of common stock of privately-held TMW Systems, Inc. (TMW) of Beachwood, Ohio, a provider of enterprise software to transportation and logistics (T&L) companies. TMW's transportation software platform serves as a central hub from which the core operations of transportation organizations are managed, data is stored and analyzed, and mission critical business processes are automated. TMW's enterprise software currently integrates with Trimble's T&L solutions (primarily PeopleNet), and one of the objectives of the acquisition was to leverage complementary technology to deliver to customers a more comprehensive and integrated end to end solution for transportation management. Additionally, Trimble's global presence was expected to extend TMW's reach and scope beyond its leading position in North America. | ||||||||||||||||||||||||
TMW’s results of operations since October 2, 2012 have been included in the Company’s Consolidated Statements of Income. TMW’s performance is reported under the Mobile Solutions business segment. | ||||||||||||||||||||||||
On July 8, 2011, the Company acquired 99.46% of the outstanding shares of Tekla. The Company purchased the remaining shares of Tekla in February 2012 after completing compulsory redemption proceedings under the Finish Companies Act. Tekla is a provider of information model based software for the building and construction and infrastructure and energy industries. The objective of the acquisition was to integrate Tekla's Building Information Modeling (BIM) software solutions with Trimble's building construction estimating, project management and BIM-to-field solutions and enable productivity solutions for contractors around the world. Tekla's infrastructure and energy solutions complement Trimble's portfolio of utility and municipality solutions. Additionally, Trimble's global customer base was expected to extend Tekla's customer reach while Tekla's global presence in the building and construction market was expected to benefit Trimble's own customer reach. | ||||||||||||||||||||||||
Tekla’s results of operations have been included in the Company's Consolidated Statements of Income beginning July 8, 2011. Tekla’s building and construction activities are included within the Company’s Engineering and Construction business segment and Tekla’s infrastructure and energy activities are included within the Company’s Field Solutions business segment. | ||||||||||||||||||||||||
The following table summarizes the consideration transferred to acquire TMW and Tekla, the assets acquired and liabilities assumed, and the estimated useful lives of the identifiable intangible assets acquired as of the date of each acquisition: | ||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||
TMW | Tekla | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Total purchase consideration | $ | 333,414 | $ | 457,387 | * | |||||||||||||||||||
Net tangible assets acquired | 3,068 | 13,279 | ||||||||||||||||||||||
Intangible assets acquired: | Estimated Useful Life | Estimated Useful Life | ||||||||||||||||||||||
Developed product technology | 71,250 | 6 years | 107,260 | 7 years | ||||||||||||||||||||
In-process research and development | — | 7,591 | Evaluated upon completion | |||||||||||||||||||||
Order backlog | 2,630 | 1 year | 1,246 | 6 months | ||||||||||||||||||||
Customer relationships | 70,900 | 8 years | 83,929 | 8 years | ||||||||||||||||||||
Trade name | 4,200 | 5 years | 7,648 | 8 years | ||||||||||||||||||||
Subtotal | 148,980 | 207,674 | ||||||||||||||||||||||
Deferred tax liability | (52,495 | ) | (53,996 | ) | ||||||||||||||||||||
Less fair value of all assets/liabilities acquired | 99,553 | 166,957 | ||||||||||||||||||||||
Goodwill | $ | 233,861 | $ | 290,430 | ||||||||||||||||||||
* Of the $457.4 million, $2.5 million was held in a cash account at the end of fiscal 2011 and represents the 0.54% of shares that were not yet acquired by the Company. In February, 2012 the Company purchased the remaining shares at the same per share price as was provided for the original 99.46% of shares obtained. Therefore, the non-controlling interest was valued based on that per-share price. | ||||||||||||||||||||||||
Details of the net tangible assets acquired are as follows: | ||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||
TMW | Tekla | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,478 | $ | 12,871 | ||||||||||||||||||||
Accounts receivable | 17,719 | 12,862 | ||||||||||||||||||||||
Other receivables | 549 | 1,712 | ||||||||||||||||||||||
Deferred income taxes | 1,162 | — | ||||||||||||||||||||||
Other current assets | 1,967 | 2,181 | ||||||||||||||||||||||
Property and equipment, net | 1,773 | 4,066 | ||||||||||||||||||||||
Other non-current assets | 278 | 5,113 | ||||||||||||||||||||||
Accounts payable | (409 | ) | (1,329 | ) | ||||||||||||||||||||
Accrued liabilities | (8,642 | ) | (12,842 | ) | ||||||||||||||||||||
Deferred revenue liability | (7,677 | ) | (10,048 | ) | ||||||||||||||||||||
Deferred income tax liabilities | (4,841 | ) | — | |||||||||||||||||||||
Other non-current liabilities | (289 | ) | (1,307 | ) | ||||||||||||||||||||
Net tangible assets acquired | $ | 3,068 | $ | 13,279 | ||||||||||||||||||||
Goodwill recorded for TMW and Tekla consisted of a valuable assembled workforce, a proven ability to generate new products and services to drive future revenue, and a premium paid by the Company for synergies unique to its business. Of the $290.4 million of goodwill recorded for the Tekla acquisition, $245.6 million was assigned to the Engineering and Construction segment and $44.8 million was assigned to the Field Solutions segment. The $233.9 million recorded for TMW was assigned to the Mobile Solutions segment. None of the amounts assigned to goodwill are expected to be deductible for tax purposes. | ||||||||||||||||||||||||
The following table presents pro forma results of operations of the Company, TMW and Tekla, as if the companies had been combined as of the beginning of the earliest period presented. The unaudited pro forma results of operations are not necessarily indicative of results that would have occurred had the acquisition taken place at the beginning of the earliest period presented, or of future results. Included in the pro forma results are fair value adjustments based on the fair value of assets acquired and liabilities assumed as of the acquisition date. During fiscal 2012, TMW contributed $16.5 million of revenue and recorded $1.7 million of operating income. During fiscal 2011, Tekla contributed $35.9 million of revenue and recorded $0.1 million of operating income. Pro-forma results include amortization of intangible assets related to the acquisitions, interest expense for debt used to purchase TMW and Tekla, acquisition related costs associated with the purchases, income tax effects, and for fiscal 2011 the pro forma results exclude a foreign currency transaction gain recognized on a hedge. The pro forma information for fiscal 2012 and 2011 is as follows: | ||||||||||||||||||||||||
Fiscal Years | 2012 | 2011 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Total revenues | $ | 2,132,918 | $ | 1,784,822 | ||||||||||||||||||||
Net income | 193,837 | 143,850 | ||||||||||||||||||||||
Net income attributable to Trimble Navigation Ltd. | 195,181 | 145,695 | ||||||||||||||||||||||
Basic earnings per share | $ | 1.55 | $ | 1.19 | ||||||||||||||||||||
Diluted earnings per share | $ | 1.52 | $ | 1.16 | ||||||||||||||||||||
Certain_Balance_Sheet_Componen
Certain Balance Sheet Components | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Certain Balance Sheet Components | ' | |||||||
CERTAIN BALANCE SHEET COMPONENTS | ||||||||
The following tables provide details of selected balance sheet items: | ||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Inventories: | ||||||||
Raw materials | $ | 94,988 | $ | 89,016 | ||||
Work-in-process | 6,871 | 6,658 | ||||||
Finished goods | 152,452 | 144,855 | ||||||
Total inventories, net | $ | 254,311 | $ | 240,529 | ||||
Deferred cost of sales for the short-term deferral of hardware and related products are included within finished goods and were $12.6 million at the end of fiscal year 2013 and $16.2 million at the end of fiscal year 2012. | ||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Property and equipment, net: | ||||||||
Machinery and equipment | $ | 179,267 | $ | 151,180 | ||||
Furniture and fixtures | 24,254 | 19,370 | ||||||
Leasehold improvements | 22,806 | 22,033 | ||||||
Construction in progress | 29,219 | 36,451 | ||||||
Buildings | 46,451 | 8,967 | ||||||
Land | 5,113 | 1,544 | ||||||
307,110 | 239,545 | |||||||
Less accumulated depreciation | (164,135 | ) | (142,655 | ) | ||||
Total | $ | 142,975 | $ | 96,890 | ||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Other non-current liabilities: | ||||||||
Deferred compensation | $ | 16,545 | $ | 12,875 | ||||
Pension | 12,289 | 11,081 | ||||||
Deferred rent | 3,524 | 5,309 | ||||||
Unrecognized tax benefits | 36,033 | 22,343 | ||||||
Other | 12,591 | 6,714 | ||||||
Total | $ | 80,982 | $ | 58,322 | ||||
At the end of fiscal year 2013, the Company has $36.0 million of unrecognized tax benefits included in Other non-current liabilities that, if recognized, would favorably impact the effective income tax rate and interest and/or penalties related to income tax matters in future periods. |
Reporting_Segment_And_Geograph
Reporting Segment And Geographic Information | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||
Reporting Segment And Geographic Information | ' | |||||||||||
REPORTING SEGMENT AND GEOGRAPHIC INFORMATION | ||||||||||||
Trimble is a designer and distributor of positioning products and applications enabled by GPS, optical, laser, and wireless communications technology. The Company provides products for diverse applications in its targeted markets. | ||||||||||||
To achieve distribution, marketing, production, and technology advantages, the Company manages its operations in the following four segments: | ||||||||||||
• | Engineering and Construction - Consists of hardware and software solutions for a variety of applications including: survey, heavy civil and building construction; infrastructure, geospatial, railway, mining and utilities. | |||||||||||
• | Field Solutions - Consists of hardware and software solutions for applications including agriculture, mapping and geographic information systems (GIS), utilities, and energy distribution. | |||||||||||
• | Mobile Solutions - Consists of hardware and software solutions that enable end-users to monitor and manage their mobile work, mobile workers and mobile assets. | |||||||||||
• | Advanced Devices - The various operations that comprise this segment are aggregated on the basis that these operations, taken as a whole, do not exceed 10% of the Company's total revenue, operating income and assets. This segment is comprised of the Embedded Technologies and Timing, Military and Advanced Systems, Applanix, Trimble Outdoors, and ThingMagic businesses. | |||||||||||
The Company’s Chief Operating Decision Maker (CODM), its Chief Executive Officer, evaluates each of its segment’s performance and allocates resources based on segment operating income before income taxes and some corporate allocations. The Company and each of its segments employ consistent accounting policies. In each of its segments the Company sells many individual products. For this reason it is impracticable to segregate and identify revenue for each of these individual products or group of products. | ||||||||||||
The following table presents revenue, operating income, depreciation expense and identifiable assets for the four segments. Operating income is revenue less cost of sales and operating expense, excluding general corporate expense, amortization of purchased intangible assets, amortization of acquisition-related inventory step-up, acquisition costs and restructuring costs. The identifiable assets that CODM views by segment are accounts receivable, inventories and goodwill. | ||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Engineering & Construction | ||||||||||||
Revenue | $ | 1,222,040 | $ | 1,089,424 | $ | 906,497 | ||||||
Operating income | 251,258 | 207,174 | 149,015 | |||||||||
Depreciation expense | 12,022 | 10,563 | 9,581 | |||||||||
Field Solutions | ||||||||||||
Revenue | $ | 473,891 | $ | 481,962 | $ | 413,721 | ||||||
Operating income | 173,114 | 182,134 | 160,139 | |||||||||
Depreciation expense | 633 | 555 | 595 | |||||||||
Mobile Solutions | ||||||||||||
Revenue | $ | 465,138 | $ | 348,147 | $ | 218,540 | ||||||
Operating income | 63,961 | 32,459 | 4,461 | |||||||||
Depreciation expense | 4,579 | 3,679 | 2,154 | |||||||||
Advanced Devices | ||||||||||||
Revenue | $ | 127,055 | $ | 120,580 | $ | 105,307 | ||||||
Operating income | 26,577 | 19,166 | 13,891 | |||||||||
Depreciation expense | 787 | 880 | 901 | |||||||||
Total | ||||||||||||
Revenue | $ | 2,288,124 | $ | 2,040,113 | $ | 1,644,065 | ||||||
Operating income | 514,910 | 440,933 | 327,506 | |||||||||
Depreciation expense | 18,021 | 15,677 | 13,231 | |||||||||
At the End of Fiscal Year | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Engineering & Construction | ||||||||||||
Accounts receivable | $ | 185,634 | $ | 171,580 | $ | 160,218 | ||||||
Inventories | 171,863 | 148,241 | 128,433 | |||||||||
Goodwill | 1,080,240 | 958,103 | 697,237 | |||||||||
Field Solutions | ||||||||||||
Accounts receivable | $ | 62,859 | $ | 71,465 | $ | 63,542 | ||||||
Inventories | 39,554 | 44,738 | 51,756 | |||||||||
Goodwill | 88,651 | 68,684 | 68,268 | |||||||||
Mobile Solutions | ||||||||||||
Accounts receivable | $ | 70,174 | $ | 59,720 | $ | 36,465 | ||||||
Inventories | 27,664 | 30,598 | 31,262 | |||||||||
Goodwill | 796,094 | 763,386 | 508,260 | |||||||||
Advanced Devices | ||||||||||||
Accounts receivable | $ | 19,265 | $ | 20,712 | $ | 14,976 | ||||||
Inventories | 15,230 | 16,952 | 20,612 | |||||||||
Goodwill | 24,485 | 25,526 | 23,927 | |||||||||
Total | ||||||||||||
Accounts receivable | $ | 337,932 | $ | 323,477 | $ | 275,201 | ||||||
Inventories | 254,311 | 240,529 | 232,063 | |||||||||
Goodwill | 1,989,470 | 1,815,699 | 1,297,692 | |||||||||
A reconciliation of the Company’s consolidated segment operating income to consolidated income before income taxes is as follows: | ||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Consolidated segment operating income | $ | 514,910 | $ | 440,933 | $ | 327,506 | ||||||
Unallocated corporate expense | (86,788 | ) | (82,203 | ) | (70,310 | ) | ||||||
Acquisition costs | (13,544 | ) | (20,455 | ) | (14,892 | ) | ||||||
Amortization of purchased intangible assets | (162,841 | ) | (125,707 | ) | (85,902 | ) | ||||||
Consolidated operating income | 251,737 | 212,568 | 156,402 | |||||||||
Non-operating income, net | 1,127 | 16,856 | 11,052 | |||||||||
Consolidated income before taxes | $ | 252,864 | $ | 229,424 | $ | 167,454 | ||||||
Unallocated corporate expense includes general corporate expense, amortization of acquisition-related inventory step-up and restructuring cost. The geographic distribution of Trimble’s revenue and long-lived assets is summarized in the tables below. Other non-US geographies include Canada, and countries in South and Central America, the Middle East, and Africa. Revenue is defined as revenue from external customers. | ||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Revenue (1): | ||||||||||||
United States | $ | 1,131,230 | $ | 962,865 | $ | 733,171 | ||||||
Europe | 535,559 | 456,472 | 402,548 | |||||||||
Asia Pacific | 317,237 | 320,131 | 251,234 | |||||||||
Other non-US countries | 304,098 | 300,645 | 257,112 | |||||||||
Total consolidated revenue | $ | 2,288,124 | $ | 2,040,113 | $ | 1,644,065 | ||||||
-1 | Revenue is attributed to countries based on the location of the customer. | |||||||||||
No single customer or country other than the United States accounted for 10% or more of Trimble’s total revenue in fiscal years 2013, 2012, and 2011. | ||||||||||||
Property and equipment, net by geographic area was as follows: | ||||||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Property and equipment, net: | ||||||||||||
United States | $ | 112,034 | $ | 70,838 | ||||||||
Europe | 20,159 | 17,550 | ||||||||||
Asia Pacific and other non-US countries | 10,782 | 8,502 | ||||||||||
Total property and equipment, net | $ | 142,975 | $ | 96,890 | ||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Long-term Debt, Unclassified [Abstract] | ' | |||||||
Long-Term Debt | ' | |||||||
LONG-TERM DEBT | ||||||||
Debt consisted of the following: | ||||||||
At the End of Fiscal | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Credit Facilities: | ||||||||
Term loan | $ | 665,000 | $ | 700,000 | ||||
Revolving credit facility | 85,000 | 208,000 | ||||||
Promissory notes and other debt | 8,458 | 3,158 | ||||||
Total debt | 758,458 | 911,158 | ||||||
Less: Current portion of long-term debt | 106,402 | 38,092 | ||||||
Non-current portion | $ | 652,056 | $ | 873,066 | ||||
Credit Facilities | ||||||||
On November 21, 2012, the Company entered into an amended and restated credit agreement with a group of lenders (the “2012 Credit Facility”). This credit facility provides for unsecured credit facilities in the aggregate principal amount of $1.4 billion, comprised of a five-year revolving loan facility of $700.0 million and a five-year $700.0 million term loan facility. Subject to the terms of the 2012 Credit Facility, the revolving loan facility may be increased, and/or additional term loan commitments may be established, in an aggregate principal amount up to $300.0 million. The Company also has two $75 million uncommitted revolving loan facilities (the “Uncommitted Facilities”), which are callable by the bank at any time and have no covenants. The interest rate for the Uncommitted Facilities is 0.9% to 1.00% plus either LIBOR or the bank’s cost of funds or as otherwise agreed upon by the bank and the Company. | ||||||||
At the end of fiscal 2013, total debt was comprised primarily of a term loan of $665.0 million and a revolving credit line of $22.0 million under the 2012 Credit Facility and a revolving credit line of $63.0 million under the Uncommitted Facilities. Of the total outstanding balance, $630.0 million of the term loan and the $22.0 million revolving credit line are classified as long-term in the Consolidated Balance Sheet. | ||||||||
The funds available under the 2012 Credit Facility may be used for general corporate purposes, the financing of certain acquisitions and the payment of transaction fees and expenses related to such acquisitions. Under the 2012 Credit Facility, the Company may borrow, repay and reborrow funds under the revolving loan facility until its maturity on November 21, 2017, at which time the revolving facility will terminate, and all outstanding loans, together with all accrued and unpaid interest, must be repaid. Amounts not borrowed under the revolving facility will be subject to a commitment fee, to be paid in arrears on the last day of each fiscal quarter, ranging from 0.15% to 0.35% per annum depending on the Company's leverage ratio as of the most recently ended fiscal quarter. The term loan will be repaid in quarterly installments, with the last quarterly payment to be made on September 29, 2017, with the remaining outstanding balance being due and payable at maturity on November 21, 2017. On an annualized basis, the amortization of the term loan is as follows: 5%, 5%, 10%, 10%, and 70% for years one through five respectively. The term loan may be prepaid in whole or in part, subject to certain minimum thresholds, without penalty or premium. Amounts repaid or prepaid with respect to the term loan facility may not be reborrowed. | ||||||||
The Company may borrow funds under the 2012 Credit Facility in U.S. Dollars, Euros or in certain other agreed currencies, and borrowings will bear interest, at the Company’s option, at either: (i) a floating per annum base rate based on the administrative agent’s prime rate or other agreed-upon rate, depending on the currency borrowed, plus a margin of between 0.00% and 1.00%, depending on the Company's leverage ratio as of the most recently ended fiscal quarter, or (ii) a reserve-adjusted fixed per annum rate based on LIBOR, EURIBOR, or other agreed-upon rate, depending on the currency borrowed, plus a margin of between 1.00% and 2.00%, depending on the Company's leverage ratio as of the most recently ended fiscal quarter. Interest will be paid on the last day of each fiscal quarter with respect to borrowings bearing interest based on a floating rate, or on the last day of an interest period, but at least every three months, with respect to borrowings bearing interest at a fixed rate. The Company's obligations under the 2012 Credit Facility are guaranteed by several of the Company's domestic subsidiaries. | ||||||||
The 2012 Credit Facility contains various customary representations and warranties by the Company, which include customary use of materiality, material adverse effect and knowledge qualifiers. The 2012 Credit Facility also contains customary affirmative and negative covenants including, among other requirements, negative covenants that restrict the Company's ability to dispose of assets, create liens, incur indebtedness, repurchase stock, pay dividends, make acquisitions and make investments. Further, the 2012 Credit Facility contains financial covenants that require the maintenance of minimum interest coverage and maximum leverage ratios. Specifically, the Company must maintain as of the end of each fiscal quarter a ratio of (a) EBITDA (as defined in the 2012 Credit Facility) to (b) interest expenses for the most recently ended period of four fiscal quarters of not less than 3.0 to 1. The Company must also maintain, at the end of each fiscal quarter, a ratio of (x) total indebtedness to (y) EBITDA (as defined in the 2012 Credit Facility) for the most recently ended period of four fiscal quarters of not greater than 3 to 1; provided, that on the completion of a material acquisition, the Company may increase the ratio by 0.25 for the fiscal quarter during which such acquisition occurred and each of the three subsequent fiscal quarters. | ||||||||
The Company was in compliance with these covenants at the end of fiscal 2013. | ||||||||
The 2012 Credit Facility contains events of default that include, among others, non-payment of principal, interest or fees, breach of covenants, inaccuracy of representations and warranties, cross defaults to certain other indebtedness, bankruptcy and insolvency events, material judgments and events constituting a change of control. Upon the occurrence and during the continuance of an event of default, interest on the obligations will accrue at an increased rate and the lenders may accelerate the Company's obligations under the 2012 Credit Facility, except that acceleration will be automatic in the case of bankruptcy and insolvency events of default. | ||||||||
The weighted average interest rate on the current portion of the debt outstanding under the 2012 Credit Facility and Uncommitted Facilities was 1.31% and 1.96% at the end of fiscal 2013 and 2012, respectively. The interest rate on the non-current debt outstanding under the 2012 Credit Facility was 1.67% and 1.96% at the end of fiscal 2013 and 2012, respectively. | ||||||||
Promissory Notes and Other Debt | ||||||||
At the end of fiscal 2013 and 2012, the Company had promissory notes and other notes payable totaling approximately $8.5 million and $3.2 million, respectively, of which $0.1 million for both periods was classified as long-term in the Consolidated Balance Sheet. | ||||||||
Debt Maturities | ||||||||
At the end of fiscal 2013, the Company's debt maturities based on outstanding principal were as follows (in thousands): | ||||||||
Year Payable | ||||||||
2014 | $ | 97,652 | ||||||
2015 | 61,306 | |||||||
2016 | 70,000 | |||||||
2017 | 385,000 | |||||||
2018 and thereafter | 144,500 | |||||||
Total | $ | 758,458 | ||||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | |||
Jan. 03, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments And Contingencies | ' | |||
COMMITMENTS AND CONTINGENCIES | ||||
Operating Leases | ||||
The Company’s principal facilities in the United States are leased under various cancelable and non-cancelable operating leases that expire at various dates through 2025. For tenant improvement allowances and rent holidays, Trimble records a deferred rent liability on the Consolidated Balance Sheets and amortizes the deferred rent over the terms of the leases as reductions to rent expense on the Consolidated Statements of Income. | ||||
The estimated future minimum payments required under the Company’s operating lease commitments at the end of fiscal 2013 were as follows (in thousands): | ||||
2014 | $ | 28,648 | ||
2015 | 21,521 | |||
2016 | 14,681 | |||
2017 | 10,180 | |||
2018 | 4,884 | |||
Thereafter | 11,888 | |||
Total | $ | 91,802 | ||
Net rent expense under operating leases was $32.2 million in fiscal 2013, $28.2 million in fiscal 2012, and $23.5 million in fiscal 2011. | ||||
At the end of fiscal 2013, the Company had unconditional purchase obligations of approximately $133.0 million. These unconditional purchase obligations primarily represent open non-cancelable purchase orders for material purchases with the Company’s vendors. Purchase obligations exclude agreements that are cancelable without penalty. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Jan. 03, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
The guidance on fair value measurements and disclosures defines fair value, establishes a framework for measuring fair value, and requires enhanced disclosures about assets and liabilities measured at fair value. Fair value is defined as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. A liability’s fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instruments’ complexity. | ||||||||||||||||
Assets and liabilities recorded at fair value on a recurring basis in the Consolidated Balance Sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, defined by the guidance on fair value measurements are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities, and are as follows: | ||||||||||||||||
Level I—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. | ||||||||||||||||
Level II—Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | ||||||||||||||||
Level III—Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. | ||||||||||||||||
Fair Value on a Recurring Basis | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations. | ||||||||||||||||
Fair Values at the end of Fiscal 2013 | ||||||||||||||||
(in thousands) | Level I | Level II | Level III | Total | ||||||||||||
Assets | ||||||||||||||||
Money market funds (1) | $ | 2 | $ | — | $ | — | $ | 2 | ||||||||
Deferred compensation plan assets (2) | 16,545 | — | — | 16,545 | ||||||||||||
Derivative assets (3) | — | 196 | — | 196 | ||||||||||||
Total | $ | 16,547 | $ | 196 | $ | — | $ | 16,743 | ||||||||
Liabilities | ||||||||||||||||
Deferred compensation plan liabilities (2) | $ | 16,545 | $ | — | $ | — | $ | 16,545 | ||||||||
Derivative liabilities (3) | — | 635 | — | 635 | ||||||||||||
Contingent consideration liability (4) | — | — | 2,401 | 2,401 | ||||||||||||
Total | $ | 16,545 | $ | 635 | $ | 2,401 | $ | 19,581 | ||||||||
Fair Values at the end of Fiscal 2012 | ||||||||||||||||
(in thousands) | Level I | Level II | Level III | Total | ||||||||||||
Assets | ||||||||||||||||
Money market funds (1) | $ | 2 | $ | — | $ | — | $ | 2 | ||||||||
Deferred compensation plan assets (2) | 12,875 | — | — | 12,875 | ||||||||||||
Derivative assets (3) | — | 343 | — | 343 | ||||||||||||
Total | $ | 12,877 | $ | 343 | $ | — | $ | 13,220 | ||||||||
Liabilities | ||||||||||||||||
Deferred compensation plan liabilities (2) | $ | 12,875 | $ | — | $ | — | $ | 12,875 | ||||||||
Derivative liabilities (3) | — | 420 | — | 420 | ||||||||||||
Contingent consideration liability (4) | — | — | 2,235 | 2,235 | ||||||||||||
Total | $ | 12,875 | $ | 420 | $ | 2,235 | $ | 15,530 | ||||||||
-1 | The money market funds are highly liquid investments. The fair values are determined using observable quoted prices in active markets. Money market funds are included in Cash and cash equivalents on the Company’s Consolidated Balance Sheets. | |||||||||||||||
-2 | The Company maintains a self-directed, non-qualified deferred compensation plan for certain executives and other highly compensated employees. The plan assets and liabilities are invested in actively traded mutual funds and individual stocks valued using observable quoted prices in active markets. Deferred compensation plan assets and liabilities are included in Other non-current assets and Other non-current liabilities on the Company's Consolidated Balance Sheets. | |||||||||||||||
-3 | Derivative assets and liabilities primarily represent forward currency exchange contracts. The Company typically enters into these contracts to minimize the short-term impact of foreign currency exchange rates on certain trade and inter-company receivables and payables. Derivative assets and liabilities are included in Other current assets and Other current liabilities on the Company's Consolidated Balance Sheets. | |||||||||||||||
-4 | Contingent consideration liability represents arrangements to pay the former owners of certain companies that Trimble acquired. The undiscounted maximum payment under the arrangements is $13.7 million at the end of fiscal 2013, based on future revenues or gross margins. Contingent consideration liability is included on Other current liabilities and Other non-current liabilities on the Company's Consolidated Balance Sheets. | |||||||||||||||
Additional Fair Value Information | ||||||||||||||||
The following table provides additional fair value information relating to the Company’s financial instruments outstanding: | ||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||||||||||
(in thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 147,227 | $ | 147,227 | $ | 157,771 | $ | 157,771 | ||||||||
Forward foreign currency exchange contracts | 196 | 196 | 343 | 343 | ||||||||||||
Liabilities: | ||||||||||||||||
Credit facility | $ | 750,000 | $ | 750,000 | $ | 908,000 | $ | 908,000 | ||||||||
Forward foreign currency exchange contracts | 635 | 635 | 420 | 420 | ||||||||||||
Promissory notes and other debt | 8,458 | 8,458 | 3,158 | 3,158 | ||||||||||||
The fair value of cash and cash equivalents is based on quoted prices in active markets for identical assets or liabilities, and is categorized as Level I in the fair value hierarchy. The fair value of the bank borrowings and promissory notes has been calculated using an estimate of the interest rate the Company would have had to pay on the issuance of notes with a similar maturity and discounting the cash flows at that rate, and is categorized as Level II in the fair value hierarchy. The fair values do not give an indication of the amount that the Company would currently have to pay to extinguish any of this debt. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
INCOME TAXES | ||||||||||||
Income before taxes and the provision for taxes consisted of the following: | ||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Income before taxes: | ||||||||||||
United States | $ | 78,271 | $ | 72,025 | $ | 40,259 | ||||||
Foreign | 174,593 | 157,399 | 127,195 | |||||||||
Total | $ | 252,864 | $ | 229,424 | $ | 167,454 | ||||||
Provision for taxes: | ||||||||||||
US Federal: | ||||||||||||
Current | $ | 38,543 | $ | 33,689 | $ | 21,157 | ||||||
Deferred | (8,708 | ) | (1,930 | ) | (9,351 | ) | ||||||
29,835 | 31,759 | 11,806 | ||||||||||
US State: | ||||||||||||
Current | 6,939 | 4,273 | 5,169 | |||||||||
Deferred | (790 | ) | (1,280 | ) | (3,370 | ) | ||||||
6,149 | 2,993 | 1,799 | ||||||||||
Foreign: | ||||||||||||
Current | 17,636 | 19,470 | 17,278 | |||||||||
Deferred | (18,922 | ) | (14,514 | ) | (12,338 | ) | ||||||
(1,286 | ) | 4,956 | 4,940 | |||||||||
Income tax provision | $ | 34,698 | $ | 39,708 | $ | 18,545 | ||||||
Effective tax rate | 14 | % | 17 | % | 11 | % | ||||||
The difference between the tax provision at the statutory federal income tax rate and the tax provision as a percentage of income before taxes (effective tax rate) was as follows: | ||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | ||||||
Increase (reduction) in tax rate resulting from: | ||||||||||||
Foreign income taxed at lower rates | (20 | )% | (19 | )% | (22 | )% | ||||||
US State income taxes | 2 | % | 1 | % | 1 | % | ||||||
US Federal and California research and development credits | (3 | )% | — | % | (3 | )% | ||||||
Stock option compensation | 1 | % | 1 | % | 1 | % | ||||||
Settlement with tax authorities | — | % | — | % | (1 | )% | ||||||
Foreign tax rate change | (2 | )% | — | % | (1 | )% | ||||||
Other | 1 | % | (1 | )% | 1 | % | ||||||
Effective tax rate | 14 | % | 17 | % | 11 | % | ||||||
On January 2, 2013, the American Taxpayer Relief Act of 2012 was signed into law. Under this act, the federal research and development credit was retroactively extended for amounts paid or incurred after December 31, 2011 and before January 1, 2014. The effect of the retroactive reinstatement of the 2012 credit was recognized in the first quarter of 2013, the quarter in which the law was enacted. On December 30, 2013, Finland reduced its corporate income tax rate from 24.5% to 20% effective as of the beginning of 2014 resulting in a tax benefit in the fourth quarter of fiscal 2013. | ||||||||||||
Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The significant components of the Company’s deferred tax assets and liabilities are as follows: | ||||||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Deferred tax liabilities: | ||||||||||||
Purchased intangibles | $ | 152,437 | $ | 171,238 | ||||||||
Depreciation and amortization | 9,008 | 8,712 | ||||||||||
US residual tax on foreign earnings | 10,464 | 973 | ||||||||||
Other | 458 | 631 | ||||||||||
Total deferred tax liabilities | 172,367 | 181,554 | ||||||||||
Deferred tax assets: | ||||||||||||
Inventory valuation differences | 8,792 | 10,917 | ||||||||||
Expenses not currently deductible | 25,086 | 27,107 | ||||||||||
Deferred revenue | 2,884 | 2,838 | ||||||||||
US state credit carryforwards | 14,125 | 13,495 | ||||||||||
Warranty | 3,142 | 3,135 | ||||||||||
US Federal net operating loss carryforwards | 3,660 | 5,951 | ||||||||||
Foreign net operating loss carryforwards | 35,388 | 25,053 | ||||||||||
Stock-based compensation | 15,704 | 13,000 | ||||||||||
Other | 2,665 | 2,251 | ||||||||||
Total deferred tax assets | 111,446 | 103,747 | ||||||||||
Valuation allowance | (31,944 | ) | (22,137 | ) | ||||||||
Total deferred tax assets | 79,502 | 81,610 | ||||||||||
Total net deferred tax liabilities | $ | (92,865 | ) | $ | (99,944 | ) | ||||||
Reported as: | ||||||||||||
Current deferred income tax assets | $ | 38,597 | $ | 43,473 | ||||||||
Non-current deferred income tax assets | 5,553 | 4,927 | ||||||||||
Current deferred income tax liabilities | (616 | ) | (84 | ) | ||||||||
Non-current deferred income tax liabilities | (136,399 | ) | (148,260 | ) | ||||||||
Net deferred tax liabilities | $ | (92,865 | ) | $ | (99,944 | ) | ||||||
At the end of fiscal 2013, the Company has federal, California and foreign net operating loss carryforwards, or NOLs, of approximately $10.1 million, $0.3 million, and $144.8 million, respectively. The federal and California NOLs expire in years 2020 through 2032. There is, generally, no expiration for the foreign NOLs. Utilization of the Company’s federal and state NOLs are subject to annual limitations in accordance with the applicable tax code. | ||||||||||||
The Company has California research and development credit carryforwards of approximately $16.3 million that can be carried forward indefinitely. | ||||||||||||
The Company’s valuation allowance is primarily attributable to foreign net operating losses and state research and development credit carryforwards. The Company has determined that it is more likely than not that the Company will not realize these deferred tax assets and, accordingly, a valuation allowance has been established for such amounts. | ||||||||||||
At the end of fiscal 2013, the Company’s foreign subsidiary accumulated undistributed earnings that are intended to be indefinitely reinvested outside the U.S. were approximately $509.8 million. The amount of the unrecognized deferred tax liability on this amount is approximately $164.9 million. | ||||||||||||
The total amount of the unrecognized tax benefits (UTB) at the end of fiscal 2013 was $44.1 million. A reconciliation of unrecognized tax benefit is as follows: | ||||||||||||
At the End of Fiscal Year | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Beginning balance | $ | 32,250 | $ | 25,984 | $ | 25,473 | ||||||
Increase related to prior years tax positions | 1,777 | — | 706 | |||||||||
Increase related to current year tax positions | 11,976 | 11,604 | 7,313 | |||||||||
Lapse of statute of limitations | (1,896 | ) | (1,801 | ) | (2,862 | ) | ||||||
Settlement with taxing authorities | — | (3,537 | ) | (4,646 | ) | |||||||
Ending balance | $ | 44,107 | $ | 32,250 | $ | 25,984 | ||||||
The Company's total unrecognized tax benefits that, if recognized, would affect its effective tax rate were $38.1 million and $26.9 million at the end of fiscal 2013 and 2012. | ||||||||||||
The Company and its subsidiaries are subject to U.S. federal, state, and foreign income taxes. The Company has substantially concluded all U.S. federal income tax audits for years through 2009. State income tax matters have been concluded for years through 2005 and non-U.S. income tax matters have been concluded for years through 2002. The Company is currently in various stages of multiple year examinations by federal, state, and foreign (multiple jurisdictions) taxing authorities. Although the timing of resolution and/or closure on audits is highly uncertain, the Company does not believe that the unrecognized tax benefits would materially change in the next twelve months. | ||||||||||||
The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company’s UTB liability including interest and penalties was recorded in Other non-current liabilities in the accompanying Consolidated Balance Sheets. At the end of fiscal 2013 and 2012, the Company had accrued $3.6 million and $2.7 million for payment of interest and penalties. |
Comprehensive_Income
Comprehensive Income | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | |||||||
Comprehensive Income | ' | |||||||
COMPREHENSIVE INCOME | ||||||||
The components of accumulated other comprehensive income, net of related tax were as follows: | ||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Accumulated foreign currency translation adjustments | $ | 34,962 | $ | 24,741 | ||||
Net unrealized actuarial losses | (1,768 | ) | (2,130 | ) | ||||
Total accumulated other comprehensive income | $ | 33,194 | $ | 22,611 | ||||
Employee_Stock_Benefit_Plans
Employee Stock Benefit Plans | 12 Months Ended | |||||||||||||||
Jan. 03, 2014 | ||||||||||||||||
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ' | |||||||||||||||
Employee Stock Benefit Plans | ' | |||||||||||||||
EMPLOYEE STOCK BENEFIT PLANS | ||||||||||||||||
The Company’s stock benefit plans include the employee stock purchase plan and stock plans adopted in 2002, 1993, 1992, 1990, as well as one stock plan assumed through an acquisition. Other than the employee stock purchase plan and the 2002 and 1992 stock plans described below, the other plans have no shares available for future grant. At the end of fiscal 2013, for the stock plan assumed through an acquisition, options to purchase 257,520 shares were outstanding. | ||||||||||||||||
Plans | ||||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||||
The Company has an Employee Stock Purchase Plan (“Purchase Plan”) under which an aggregate of 39,100,000 shares of Common Stock have been reserved for sale to eligible employees as approved by the shareholders to date. The plan permits eligible employees to purchase Common Stock through payroll deductions at 85% of the lower of the fair market value of the Common Stock at the beginning or at the end of each offering period, which is generally six months. The Purchase Plan terminates on September 30, 2018. In fiscal 2013, 2012 and 2011, the shares issued under the Purchase Plan were 636,227 shares, 702,622, and 794,252, respectively. Compensation expense recognized during fiscal 2013, 2012 and 2011 related to shares granted under the Employee Stock Purchase Plan was $4.0 million, $3.9 million and $3.3 million, respectively. At the end of fiscal 2013, the number of shares reserved for future purchases by eligible employees was 5,973,148. | ||||||||||||||||
2002 Stock Plan | ||||||||||||||||
In 2002, Trimble’s board of directors adopted the 2002 Stock Plan (“2002 Plan”). The 2002 Plan, approved by the shareholders, provides for the granting of incentive and non-statutory stock options and restricted stock units for up to 62,570,248 shares plus any shares currently reserved but unissued to employees, consultants, and directors of Trimble. Incentive stock options may be granted at exercise prices that are not less than 100% of the fair market value of Common Stock on the date of grant. Employee stock options granted under the 2002 Plan generally have 84-120 month terms, and vest at a rate of 20% at the first anniversary of grant and monthly thereafter at an annual rate of 20%, with full vesting occurring at the fifth anniversary of the grant. In certain instances, grants vest at a rate of 40% at the second anniversary of grant and monthly thereafter at an annual rate of 20% with full vesting occurring at the fifth anniversary of the grant. Beginning 2013, employee stock options granted under the 2002 Plan vest at a rate of 25% at the first anniversary of grant and monthly thereafter at an annual rate of 25%, with full vesting occurring at the fourth anniversary of the grant. In certain instances, grants vest at a rate of 50% at the second anniversary of grant and monthly thereafter at an annual rate of 25% with full vesting occurring at the fourth anniversary of the grant. Non-employee director stock options granted under the 2002 Plan generally have 84-120 month terms, and vest at a rate of 1/12th per month, with full vesting occurring one year from the date of grant. The Company issues new shares for option exercises. The majority of the restricted share units granted under this plan vest 100% after three years. At the end of fiscal 2013, options to purchase 14,685,605 shares were outstanding, 1,966,175 restricted stock units were unvested, and 17,614,173 shares were available for future grant under the 2002 Plan. | ||||||||||||||||
1992 Employee Stock Bonus Plan | ||||||||||||||||
In 1992, Trimble’s board of directors approved the 1992 Employee Stock Bonus Plan (“Bonus Plan”). At the end of fiscal 2013, there were no options outstanding to purchase shares and 4,067 shares were available for future grant under the 1992 Employee Stock Bonus Plan. | ||||||||||||||||
Stock Option and Restricted Stock Unit Activity | ||||||||||||||||
Options Outstanding and Exercisable | ||||||||||||||||
Exercise prices for options outstanding at the end of fiscal 2013, ranged from $5.06 to $31.05. In view of the wide range of exercise prices, Trimble considers it appropriate to provide the following additional information with respect to options outstanding at the end of fiscal 2013: | ||||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Range | Number | Weighted- | Weighted- | Number | Weighted- | |||||||||||
Outstanding | Average | Average | Exercisable | Average | ||||||||||||
Exercise Price | Remaining | Exercise Price | ||||||||||||||
per Share | Contractual Life | per Share | ||||||||||||||
(in years) | ||||||||||||||||
(in thousands, except for per share data) | ||||||||||||||||
5.06 - 8.00 | 392 | $ | 6.96 | 0.85 | 392 | $ | 6.96 | |||||||||
8.01 - 12.00 | 2,963 | 10.1 | 2.39 | 2,635 | 10.03 | |||||||||||
12.01 - 16.00 | 1,702 | 14.96 | 2.76 | 1,360 | 14.86 | |||||||||||
16.01 - 20.00 | 1,555 | 18.09 | 3.77 | 934 | 18.06 | |||||||||||
20.01 - 24.00 | 5,249 | 21.64 | 4.69 | 2,041 | 21.02 | |||||||||||
24.01 - 28.00 | 1,310 | 26.96 | 5.22 | 247 | 26.94 | |||||||||||
28.01 - 31.05 | 1,772 | 28.2 | 6.56 | 102 | 28.08 | |||||||||||
Total | 14,943 | $ | 19.08 | 4.09 | 7,711 | $ | 15.39 | |||||||||
Number | Weighted- | Weighted- | Aggregate | |||||||||||||
Of Shares | Average | Average | Intrinsic | |||||||||||||
(in thousands) | Exercise Price | Remaining | Value | |||||||||||||
per Share | Contractual Term | (in thousands) | ||||||||||||||
(in years) | ||||||||||||||||
Options outstanding | 14,943 | $ | 19.08 | 4.09 | $ | 231,420 | ||||||||||
Options expected to vest | 6,744 | $ | 22.94 | 5.18 | $ | 78,436 | ||||||||||
Options exercisable | 7,711 | $ | 15.39 | 3.04 | $ | 147,920 | ||||||||||
Options expected to vest are adjusted for expected forfeitures. The aggregate intrinsic value is the total pretax intrinsic value based on the Company’s closing stock price of $34.57 at the end of fiscal 2013, which would have been received by the option holders had all option holders exercised their options as of that date. | ||||||||||||||||
At the end of fiscal 2013, the total unamortized stock option expense is $47.4 million with a weighted-average recognition period of 2.9 years. | ||||||||||||||||
Option Activity | ||||||||||||||||
Activity during fiscal 2013, under the combined plans was as follows: | ||||||||||||||||
Options | Weighted average | |||||||||||||||
exercise price | ||||||||||||||||
(in thousands, except for per share data) | ||||||||||||||||
Outstanding at the beginning of year | 16,966 | $ | 16.93 | |||||||||||||
Granted | 1,814 | 28.19 | ||||||||||||||
Exercised | (3,192 | ) | 12.62 | |||||||||||||
Cancelled | (645 | ) | 19.98 | |||||||||||||
Outstanding at the end of year | 14,943 | $ | 19.08 | |||||||||||||
Available for grant | 17,618 | |||||||||||||||
The total intrinsic value of options exercised during fiscal 2013, 2012 and 2011 was $55.5 million, $89.3 million, and $64.7 million, respectively. Compensation expense recognized during fiscal 2013, 2012 and 2011 related to stock options was $20.2 million, $20.3 million, and $15.8 million, respectively. | ||||||||||||||||
Restricted Stock Unit Activity | ||||||||||||||||
Activity during fiscal 2013 was as follows: | ||||||||||||||||
Restricted | Weighted Average | |||||||||||||||
Stock Units | Grant-Date Fair Value | |||||||||||||||
(in thousands, except for per share data) | ||||||||||||||||
Unvested at the beginning of year | 1,544 | $ | 20.66 | |||||||||||||
Granted | 1,125 | 28.17 | ||||||||||||||
Vested | (601 | ) | 16.63 | |||||||||||||
Cancelled | (102 | ) | 22.95 | |||||||||||||
Unvested at the end of year | 1,966 | $ | 26.07 | |||||||||||||
Compensation expense recognized during fiscal 2013, 2012 and 2011 related to restricted stock units was $12.2 million, $8.6 million, and $9.4 million, respectively. At the end of fiscal 2013, there was $39.2 million of unamortized restricted stock unit compensation expense related to unvested restricted stock units, with a weighted-average recognition period of 2.4 years. | ||||||||||||||||
Stock-Based Compensation Expense | ||||||||||||||||
The following table summarizes stock-based compensation expense related to employee stock-based compensation (for all plans) included in the Consolidated Statements of Income. | ||||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||
(in thousands) | ||||||||||||||||
Cost of sales | $ | 2,573 | $ | 2,005 | $ | 1,955 | ||||||||||
Research and development | 5,039 | 5,319 | 4,624 | |||||||||||||
Sales and marketing | 7,329 | 7,017 | 6,672 | |||||||||||||
General and administrative | 21,501 | 18,319 | 15,200 | |||||||||||||
Total operating expenses | 33,869 | 30,655 | 26,496 | |||||||||||||
Total stock-based compensation expense | $ | 36,442 | $ | 32,660 | $ | 28,451 | ||||||||||
Fair Value of Employee Stock Purchase Plan | ||||||||||||||||
Under the Employee Stock Purchase Plan, rights to purchase shares are generally granted during the second and fourth quarter of each year. The fair value of rights granted under the Employee Stock Purchase Plan was estimated at the date of grant using the Black-Scholes option-pricing model. The estimated weighted average value of rights granted under the Employee Stock Purchase Plan during fiscal years 2013, 2012 and 2011 was $8.05, $6.27 and $5.41, respectively. The fair value of rights granted during 2013, 2012 and 2011 was estimated at the date of grant using the following weighted-average assumptions: | ||||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||
Expected dividend yield | — | — | — | |||||||||||||
Expected stock price volatility | 31.5 | % | 37.9 | % | 34 | % | ||||||||||
Risk free interest rate | 0.12 | % | 0.1 | % | 0.16 | % | ||||||||||
Expected life of purchase | 6 months | 6 months | 6 months | |||||||||||||
Expected Dividend Yield—The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. | ||||||||||||||||
Expected Stock Price Volatility—The Company’s computation of expected volatility is based on implied volatilities from traded options on the Company’s stock. The Company used implied volatility because it is representative of future stock price trends during the purchase period. | ||||||||||||||||
Expected Risk Free Interest Rate—The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the purchase period. | ||||||||||||||||
Expected Life of Purchase—The Company’s expected life of the purchase is based on the term of the offering period of the purchase plan. | ||||||||||||||||
Fair value of Trimble Options | ||||||||||||||||
Stock option expense recognized in the Consolidated Statements of Income is based on the fair value of the portion of share-based payment awards that is expected to vest during the period and is net of estimated forfeitures. The Company’s compensation expense for stock options is recognized using the straight-line single option method. The fair value for stock options is estimated on the date of grant using the binomial valuation model. The binomial model takes into account variables such as volatility, dividend yield rate, and risk free interest rate. In addition, the binomial model incorporates actual option-pricing behavior and changes in volatility over the option’s contractual term. | ||||||||||||||||
Under the binomial model, the weighted average grant-date fair value of stock options granted during fiscal years 2013, 2012 and 2011 was $7.90, $7.51, and $7.62, respectively. For options granted during fiscal 2013, 2012 and 2011, the following weighted-average assumptions were used: | ||||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||
Expected dividend yield | — | — | — | |||||||||||||
Expected stock price volatility | 35 | % | 41 | % | 45 | % | ||||||||||
Risk free interest rate | 0.69 | % | 0.62 | % | 1.13 | % | ||||||||||
Expected life of options | 3.9 years | 4.1 years | 4.2 years | |||||||||||||
Expected Dividend Yield—The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. | ||||||||||||||||
Expected Stock Price Volatility—The Company’s computation of expected volatility is based on a combination of implied volatilities from traded options on the Company’s stock and historical volatility. The Company used implied and historical volatility as the combination was more representative of future stock price trends than historical volatility alone. | ||||||||||||||||
Expected Risk Free Interest Rate—The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option. | ||||||||||||||||
Expected Life of Options—The Company’s expected term represents the period that the Company’s stock options are expected to be outstanding and was determined based on historical experience of similar stock options with consideration for the contractual terms of the stock options, vesting schedules and expectations of future employee behavior. | ||||||||||||||||
Fair value of Restricted Stock Units | ||||||||||||||||
Restricted stock units are converted into shares of Trimble common stock upon vesting on a one-for-one basis. Vesting of restricted stock units is subject to the employee’s continuing service to the Company. The compensation expense related to these awards was determined using the fair value of Trimble’s common stock on the date of grant, and the expense is recognized on a straight-line basis over the vesting period. Restricted stock units typically vest at the end of three years. |
Statement_Of_Cash_Flow_Data
Statement Of Cash Flow Data | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Statement Of Cash Flow Data | ' | |||||||||||
STATEMENT OF CASH FLOW DATA | ||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||
Interest paid | $ | 18,986 | $ | 17,846 | $ | 8,641 | ||||||
Income taxes paid | $ | 42,611 | $ | 20,202 | $ | 13,867 | ||||||
Litigation
Litigation | 12 Months Ended |
Jan. 03, 2014 | |
Loss Contingency [Abstract] | ' |
Litigation | ' |
LITIGATION | |
On August 9, 2013, the Harbinger Plaintiffs filed a lawsuit against Deere & Co., Garmin International, Inc., the Company and two other defendants in the U.S. District Court in Manhattan in connection with the Harbinger Plaintiffs’ investment in LightSquared. The Harbinger Plaintiffs allege, among other things, fraud and negligent misrepresentation, claiming that the defendants were aware of material facts that caused the Federal Communications Commission to take adverse action against LightSquared and affirmatively misrepresented and failed to disclose those facts prior to the Harbinger Plaintiffs’ investment in LightSquared. The Harbinger Plaintiffs seek $1.9 billion in damages from the defendants. On November 1, 2013, debtor LightSquared, Inc. and two related parties (“LightSquared Plaintiffs”) filed suit against the same defendants in the U.S. Bankruptcy Court in Manhattan. The LightSquared Plaintiffs assert claims similar to those made by the Harbinger Plaintiffs, as well as additional claims, including breach of contract and tortious interference, and allege that LightSquared invested billions of dollars in reliance on the promises and representations of defendants. On January 31, 2014, the U.S. District Court granted defendants’ motion to withdraw the LightSquared action from the U.S. Bankruptcy Court so it will proceed together with the Harbinger action before the U.S. District Court. Although an unfavorable outcome of these litigation matters may have a material adverse effect on our operating results, liquidity, or financial position, the Company believes the claims in these lawsuits are without merit and intends to vigorously contest these lawsuits. | |
From time to time, the Company is also involved in litigation arising out of the ordinary course of our business. There are no other material legal proceedings, other than ordinary routine litigation incidental to the business, to which the Company or any of its subsidiaries is a party or of which any of the Company's or its subsidiaries' property is subject. |
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data | 12 Months Ended | |||||||||||||||
Jan. 03, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Selected Quarterly Financial Data | ' | |||||||||||||||
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||
Trimble has a 52-53 week fiscal year, ending on the Friday nearest to December 31. Fiscal 2013 was a 53-week year and fiscal 2012 was a 52-week year. As a result of the extra week, year-over-year results may not be comparable. | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Fiscal Period | 2013 | 2013 | 2013 | 2013 | ||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Revenue | $ | 556,111 | $ | 576,293 | $ | 556,502 | $ | 599,218 | ||||||||
Gross margin | 286,914 | 302,401 | 295,053 | 319,454 | ||||||||||||
Net income attributable to Trimble Navigation Ltd. | 49,808 | 54,581 | 54,469 | 59,997 | ||||||||||||
Basic net income per share | 0.2 | 0.21 | 0.21 | 0.23 | ||||||||||||
Diluted net income per share | 0.19 | 0.21 | 0.21 | 0.23 | ||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Fiscal Period | 2012 | 2012 | 2012 | 2012 | ||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Revenue | $ | 502,267 | $ | 517,560 | $ | 504,763 | $ | 515,523 | ||||||||
Gross margin | 259,150 | 267,696 | 262,867 | 256,463 | ||||||||||||
Net income attributable to Trimble Navigation Ltd. | 50,818 | 53,692 | 53,364 | 33,185 | ||||||||||||
Basic net income per share | 0.2 | 0.21 | 0.21 | 0.13 | ||||||||||||
Diluted net income per share | 0.2 | 0.21 | 0.21 | 0.13 | ||||||||||||
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||
Valuation And Qualifying Accounts | ' | |||||||||||
SCHEDULE II | ||||||||||||
TRIMBLE NAVIGATION LIMITED | ||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||
(in thousands) | ||||||||||||
Fiscal Year End | 2013 | 2012 | 2011 | |||||||||
Allowance for doubtful accounts: | ||||||||||||
Balance at beginning of period | $ | 6,318 | $ | 6,689 | $ | 3,442 | ||||||
Acquired allowance | 1,156 | 1,714 | 3,678 | |||||||||
Bad debt expense | 1,902 | 2,030 | 1,913 | |||||||||
Write-offs, net of recoveries | (3,059 | ) | (4,115 | ) | (2,344 | ) | ||||||
Balance at end of period | $ | 6,317 | $ | 6,318 | $ | 6,689 | ||||||
Accounting_Policies_Policy
Accounting Policies (Policy) | 12 Months Ended | ||||||||
Jan. 03, 2014 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Use Of Estimates | ' | ||||||||
Use of Estimates | |||||||||
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are used for allowances for doubtful accounts, sales returns reserve, allowances for inventory valuation, warranty costs, investments, goodwill impairment, intangibles impairment, purchased intangibles, stock-based compensation, and income taxes among others. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Although these estimates are based on management’s best knowledge of current events and actions that may impact the company in the future, actual results may differ materially from management’s estimates. | |||||||||
Basis Of Presentation | ' | ||||||||
Basis of Presentation | |||||||||
The Company has a 52-53 week fiscal year, ending on the Friday nearest to December 31. Fiscal 2013 was a 53-week year and ended on January 3, 2014. Fiscal 2012 and 2011 were both 52-week years, and ended on December 28, 2012 and December 30, 2011, respectively. Unless otherwise stated, all dates refer to the Company’s fiscal year. | |||||||||
These Consolidated Financial Statements include the results of the Company and its consolidated subsidiaries. Inter-company accounts and transactions have been eliminated. Noncontrolling interests represent the noncontrolling shareholders’ proportionate share of the net assets and results of operations of the Company’s consolidated subsidiaries. | |||||||||
The Company has evaluated all subsequent events through the date that these financial statements have been filed with the Securities and Exchange Commission (“SEC”). | |||||||||
The Company has presented revenue and cost of sales separately for products, service and subscriptions. Product revenue includes primarily hardware, software licenses, parts and accessories; service revenue includes primarily hardware and software maintenance and support, training and professional services; subscription revenue includes software as a service (SaaS). | |||||||||
On March 20, 2013 the Company effected a 2-for-1 split of all outstanding shares of Common Stock. All shares and per share information presented has been adjusted to reflect the stock split on a retroactive basis for all periods presented. | |||||||||
Certain immaterial amounts from prior periods have been reclassified to conform to the current period presentation, including certain line items within the Consolidated Statement of Cash Flows as well as the components of deferred taxes in Note 10. | |||||||||
Foreign Currency Translation | ' | ||||||||
Foreign Currency Translation | |||||||||
Assets and liabilities of non-U.S. subsidiaries that operate in local currencies are translated to U.S. dollars at exchange rates in effect at the balance sheet date, with the resulting translation adjustments directly recorded to a separate component of accumulated other comprehensive income, net of tax in accumulated other comprehensive income within the shareholders’ equity section of the Consolidated Balance Sheets. Income and expense accounts are translated at average monthly exchange rates during the year. | |||||||||
Cash And Cash Equivalents | ' | ||||||||
Cash and Cash Equivalents | |||||||||
Cash and cash equivalents include all cash and highly liquid investments with insignificant interest rate risk and maturities of three months or less at the date of purchase. The carrying amount of cash and cash equivalents approximates fair value because of the short maturity of those instruments. | |||||||||
The fair value of cash and cash equivalents is based on quoted prices in active markets for identical assets or liabilities, and is categorized as Level I in the fair value hierarchy. | |||||||||
Concentration Of Risk | ' | ||||||||
Concentration of Risk | |||||||||
Cash and cash equivalents are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and therefore bear minimal credit risk. | |||||||||
The Company is also exposed to credit risk in the Company’s trade receivables, which are derived from sales to end-user customers in diversified industries as well as various resellers. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended when deemed necessary but generally does not require collateral. | |||||||||
With Flextronics Corporation International as an exclusive manufacturing partner for many of its products, the Company is dependent upon a sole supplier for the manufacture of these products. In addition, the Company relies on sole suppliers for a number of its critical components. | |||||||||
Allowance For Doubtful Accounts | ' | ||||||||
Allowance for Doubtful Accounts | |||||||||
The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. | |||||||||
The Company evaluates the ongoing collectibility of its trade accounts receivable based on a number of factors such as age of the accounts receivable balances, credit quality, historical experience, and current economic conditions that may affect a customer’s ability to pay. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations to the Company, a specific allowance for bad debts is estimated and recorded which reduces the recognized receivable to the estimated amount that the Company believes will ultimately be collected. In addition to specific customer identification of potential bad debts, bad debt charges are recorded based on the Company’s recent past loss history and an overall assessment of past due trade accounts receivable amounts outstanding. | |||||||||
Inventories | ' | ||||||||
Inventories | |||||||||
Inventories are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or market. Adjustments are also made to reduce the cost of inventory for estimated excess or obsolete balances. Factors influencing these adjustments include declines in demand, technological changes, product life cycle and development plans, component cost trends, product pricing, physical deterioration and quality issues. | |||||||||
Business Combinations | ' | ||||||||
Business Combinations | |||||||||
The Company allocates the fair value of purchase consideration to the assets acquired, liabilities assumed, and non-controlling interests in the acquiree generally based on their fair values at the acquisition date. The excess of the fair value of purchase consideration over the fair value of these assets acquired, liabilities assumed and non-controlling interests in the acquiree is recorded as goodwill. | |||||||||
When determining the fair values of assets acquired, liabilities assumed, and non-controlling interests in the acquiree, management makes significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing intangible assets include, but are not limited to, expected future cash flows, which includes consideration of future growth rates and margins, attrition rates, future changes in technology and brand awareness, loyalty and position, and discount rates. Fair value estimates are based on the assumptions management believes a market participant would use in pricing the asset or liability. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. | |||||||||
The Company determined the total consideration paid for each of its acquisitions as well as the fair value of the assets acquired and liabilities assumed as of the date of each acquisition. For certain acquisitions completed in fiscal 2013, the fair value of the assets acquired and liabilities assumed are preliminary and may be adjusted as the Company obtains additional information, primarily related to adjustments for the true up of acquired net working capital in accordance with certain purchase agreements, and estimated values of certain net tangible assets and liabilities including tax balances, pending the completion of final studies and analyses. If there are adjustments made for these items the fair value of intangible assets and goodwill could be impacted. Thus the provisional measurements of fair value set forth below are subject to change. Such changes could be significant. The Company expects to finalize the valuation of the net tangible and intangible assets as soon as practicable, but not later than one-year from the acquisition date. | |||||||||
The fair value of identifiable assets acquired and liabilities assumed were determined under the acquisition method of accounting for business combinations. The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The fair value of intangible assets acquired is generally determined based on a discounted cash flow analysis. Acquisition costs directly related to the acquisitions of $13.5 million, $20.5 million and $14.9 million in fiscal 2013, 2012, and 2011, respectively were expensed as incurred and were included in General and administrative expenses in the Consolidated Statements of Income. | |||||||||
Goodwill And Purchased Intangible Assets | ' | ||||||||
Goodwill and Purchased Intangible Assets | |||||||||
Goodwill represents the excess of the purchase consideration over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. Intangible assets acquired individually, with a group of other assets, or in a business combination are recorded at fair value. Identifiable intangible assets are comprised of distribution channels and distribution rights, patents, licenses, technology, acquired backlog, trademarks and in-process research and development. Identifiable intangible assets are being amortized over the period of estimated benefit using the straight-line method, reflecting the pattern of economic benefits associated with these assets, and have estimated useful lives ranging from one month to twelve years with a weighted average useful life of 6.4 years. Goodwill is not subject to amortization, but is subject to at least an annual assessment for impairment, applying a fair-value based test. | |||||||||
Impairment Of Goodwill, Intangible Assets And Other Long-Lived Assets | ' | ||||||||
Impairment of Goodwill, Intangible Assets and Other Long-Lived Assets | |||||||||
The Company evaluates goodwill, at a minimum, on an annual basis and whenever events and changes in circumstances suggest that the carrying amount may not be recoverable. The Company performs its annual goodwill impairment testing in the fourth fiscal quarter of each year based on the values on the first day of that quarter. For the Company's annual goodwill impairment test in the fourth quarter of fiscal 2013, the Company chose not to perform the optional qualitative assessment for any of its reporting units. Instead, goodwill was reviewed for impairment utilizing a quantitative two-step process. In the first step of this test, goodwill is tested for impairment at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. The fair values of the reporting units are estimated using a discounted cash flow approach. If the carrying amount of the reporting unit exceeds its fair value, a second step is performed to measure the amount of impairment loss, if any. In step two, the implied fair value of goodwill is calculated as the excess of the fair value of a reporting unit over the fair values assigned to its assets and liabilities. If the implied fair value of goodwill is less than the carrying value of the reporting unit’s goodwill, the difference is recognized as an impairment loss. When the Company performs a quantitative assessment of goodwill impairment, the determination of fair value of a reporting unit involves the use of significant estimates and assumptions. The discounted cash flows are based upon, among other things, assumptions about expected future operating performance using risk-adjusted discount rates. Actual future results may differ from those estimates. As of the first day of the fourth quarter of fiscal 2013, for each reporting unit, the Company’s estimated fair values exceeded the carrying values by substantial margins on a percentage basis. This includes the results for certain earlier stage reporting units, which due to the smaller magnitude of the carrying value and fair value of each respective reporting unit, the margins by which the fair value exceeded the carrying value on an absolute dollar basis were relatively small. | |||||||||
Depreciation and amortization of the Company’s intangible assets and other long-lived assets is provided using the straight-line method over their estimated useful lives, reflecting the pattern of economic benefits associated with these assets. Changes in circumstances such as technological advances, changes to the Company’s business model, or changes in the capital strategy could result in the actual useful lives differing from initial estimates. In those cases where the Company determines that the useful life of an asset should be revised, the Company will depreciate the net book value in excess of the estimated residual value over its revised remaining useful life. These assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The estimated future cash flows are based upon, among other things, assumptions about expected future operating performance and may differ from actual cash flows. The assets evaluated for impairment are grouped with other assets to the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. If the sum of the projected undiscounted cash flows (excluding interest) is less than the carrying value of the assets, the assets will be written down to the estimated fair value. | |||||||||
Revenue Recognition | ' | ||||||||
Revenue Recognition | |||||||||
The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when persuasive evidence of an arrangement exists, shipment has occurred, the fee is fixed or determinable, and collectibility is reasonably assured. In instances where final acceptance of the product is specified by the customer or is uncertain, revenue is deferred until all acceptance criteria have been met. | |||||||||
Contracts and/or customer purchase orders are used to determine the existence of an arrangement. Shipping documents and customer acceptance, when applicable, are used to verify delivery. The Company assesses whether the fee is fixed or determinable based on the payment terms associated with the transaction and whether the sales price is subject to refund or adjustment. The Company assesses collectibility based primarily on the creditworthiness of the customer as determined by credit checks and analyses, as well as the customer’s payment history. | |||||||||
Revenue for orders is generally not recognized until the product is shipped and title has transferred to the buyer. The Company bears all costs and risks of loss or damage to the goods up to that point. The Company’s shipment terms for U.S. orders and international orders fulfilled from the Company’s European distribution center typically provide that title passes to the buyer upon delivery of the goods to the carrier named by the buyer at the named place or point. If no precise point is indicated by the buyer, delivery is deemed to occur when the carrier takes the goods into its charge from the place determined by the Company. Other shipment terms may provide that title passes to the buyer upon delivery of the goods to the buyer. Shipping and handling costs are included in Cost of sales. | |||||||||
Revenue from sales to distributors and dealers is recognized upon shipment, assuming all other criteria for revenue recognition have been met. Distributors and dealers do not have a right of return. | |||||||||
Revenue from purchased extended warranty and post contract support (PCS) agreements is deferred and recognized ratably over the term of the warranty or support period. Revenue from the Company's subscription services related to its hardware and software applications is recognized ratably over the term of the subscription service period beginning on the date that service is made available to the customer, assuming all revenue recognition criteria have been met. | |||||||||
The Company presents revenue net of sales taxes and any similar assessments. | |||||||||
The Company’s software arrangements generally consist of a perpetual license fee and PCS. The Company generally has established vendor-specific objective evidence (VSOE) of fair value for the Company’s PCS contracts based on the renewal rate. The remaining value of the software arrangement is allocated to the license fee using the residual method. License revenue is primarily recognized when the software has been delivered and fair value has been established for all remaining undelivered elements. In cases where VSOE of fair value for PCS is not established, revenue is recognized ratably over the PCS period after all software deliverables have been made and the only the undelivered element is PCS. | |||||||||
Some of the Company’s subscription product offerings include hardware, subscription services and extended warranty. Under these hosted arrangements, the customer typically does not have the contractual right to take possession of the software at any time during the hosting period without incurring a significant penalty and it is not feasible for the customer to run the software either on its own hardware or on a third-party’s hardware. | |||||||||
The Company’s multiple deliverable product offerings include hardware with embedded firmware, extended warranty, software, PCS and subscription services, which are considered separate units of accounting. For certain of the Company’s products, software and non-software components function together to deliver the tangible product’s essential functionality. | |||||||||
In evaluating the revenue recognition for the Company's hardware or subscription agreements which contain multiple deliverable arrangements, the Company determined that in certain instances the Company was not able to establish VSOE for some or all deliverables in an arrangement as the Company infrequently sold each element on a standalone basis, did not price products within a narrow range, or had a limited sales history. When VSOE cannot be established, the Company attempts to establish the selling price of each element based on relevant third-party evidence (TPE). TPE is determined based on competitor prices for similar deliverables when sold separately. Generally, the Company’s go-to-market strategy differs from that of competitors, and offerings may contain a significant level of proprietary technology, customization or differentiation such that the comparable pricing of products with similar functionality cannot be obtained. Furthermore, the Company is unable to reliably determine what similar competitor products’ selling prices are on a stand-alone basis. Therefore, the Company typically is not able to establish the selling price of an element based on TPE. | |||||||||
When the Company is unable to establish selling price using VSOE or TPE, the Company uses its best estimate of selling price (BESP) in the Company’s allocation of arrangement consideration. The objective of BESP is to determine the price at which the Company would transact a sale if the product or service were sold on a stand-alone basis. BESP is generally used for offerings that are not typically sold on a stand-alone basis or for new or highly customized offerings. The Company determines BESP for a product or service by considering multiple factors including, but not limited to, pricing practices, market conditions, competitive landscape, internal costs, geographies and gross margin. The determination of BESP is made through consultation with and formal approval by the Company’s management, taking into consideration the Company’s go-to-market strategy. | |||||||||
Warranty | ' | ||||||||
Warranty | |||||||||
The Company accrues for warranty costs as part of its cost of sales based on associated material product costs, technical support labor costs, and costs incurred by third parties performing work on the Company’s behalf. The Company’s expected future cost is primarily estimated based upon historical trends in the volume of product returns within the warranty period and the cost to repair or replace the equipment. The products sold are generally covered by a warranty for periods ranging from 90 days to 5.5 years. | |||||||||
While the Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of component suppliers, its warranty obligation is affected by product failure rates, material usage, and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage, or service delivery costs differ from the estimates, revisions to the estimated warranty accrual and related costs may be required. | |||||||||
Changes in the Company’s product warranty liability during the fiscal years ended 2013 and 2012 are as follows: | |||||||||
At the End of Fiscal Year | 2013 | 2012 | |||||||
(in thousands) | |||||||||
Beginning balance | $ | 17,066 | $ | 18,444 | |||||
Acquired warranties | 154 | 62 | |||||||
Accruals for warranties issued | 20,356 | 21,909 | |||||||
Changes in estimates | 402 | (1,091 | ) | ||||||
Warranty settlements (in cash or in kind) | (20,197 | ) | (22,258 | ) | |||||
Ending Balance | $ | 17,781 | $ | 17,066 | |||||
Guarantees, Including Indirect Guarantees Of Indebtedness Of Others | ' | ||||||||
Guarantees, Including Indirect Guarantees of Indebtedness of Others | |||||||||
In the normal course of business to facilitate sales of its products, the Company indemnifies other parties, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed to hold the other party harmless against losses arising from a breach of representations or covenants, or out of intellectual property infringement or other claims made against certain parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. In addition, the Company has entered into indemnification agreements with its officers and directors, and the Company’s bylaws contain similar indemnification obligations to the Company’s agents. | |||||||||
It is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, payments made by the Company under these agreements have not been material and no liabilities have been recorded on the Consolidated Balance Sheets at the end of fiscal 2013 and 2012. | |||||||||
Advertising Costs | ' | ||||||||
Advertising Costs | |||||||||
The Company expenses all advertising costs as incurred. Advertising expense was approximately $33.8 million, $32.9 million, and $23.7 million, in fiscal 2013, 2012 and 2011, respectively. | |||||||||
Research And Development Costs | ' | ||||||||
Research and Development Costs | |||||||||
Research and development costs are charged to expense as incurred. Cost of software developed for external sale subsequent to reaching technical feasibility were not significant and were expensed as incurred. The Company received third party funding of approximately $5.1 million, $3.5 million, and $7.8 million in fiscal 2013, 2012 and 2011, respectively. The Company offsets research and development expense with any third party funding earned. The Company retains the rights to any technology developed under such arrangements. | |||||||||
Stock-Based Compensation | ' | ||||||||
Stock-Based Compensation | |||||||||
The Company has employee stock benefit plans, which are described more fully in “Note 12: Employee Stock Benefit Plans.” Stock compensation expense recognized in the Consolidated Statements of Income is based on the fair value of the portion of share-based payment awards that is expected to vest during the period and is net of estimated forfeitures. The Company attributes the value of stock options to expense using the straight-line single option method. The grant date fair value for options is estimated using the binomial valuation model. The fair value of rights to purchase shares under the Employee Stock Purchase Plan is estimated using the Black-Scholes option-pricing model. | |||||||||
Fair Value of Employee Stock Purchase Plan | |||||||||
Under the Employee Stock Purchase Plan, rights to purchase shares are generally granted during the second and fourth quarter of each year. The fair value of rights granted under the Employee Stock Purchase Plan was estimated at the date of grant using the Black-Scholes option-pricing model. The estimated weighted average value of rights granted under the Employee Stock Purchase Plan during fiscal years 2013, 2012 and 2011 was $8.05, $6.27 and $5.41, respectively. The fair value of rights granted during 2013, 2012 and 2011 was estimated at the date of grant using the following weighted-average assumptions: | |||||||||
Fiscal Years | 2013 | 2012 | 2011 | ||||||
Expected dividend yield | — | — | — | ||||||
Expected stock price volatility | 31.5 | % | 37.9 | % | 34 | % | |||
Risk free interest rate | 0.12 | % | 0.1 | % | 0.16 | % | |||
Expected life of purchase | 6 months | 6 months | 6 months | ||||||
Expected Dividend Yield—The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. | |||||||||
Expected Stock Price Volatility—The Company’s computation of expected volatility is based on implied volatilities from traded options on the Company’s stock. The Company used implied volatility because it is representative of future stock price trends during the purchase period. | |||||||||
Expected Risk Free Interest Rate—The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the purchase period. | |||||||||
Expected Life of Purchase—The Company’s expected life of the purchase is based on the term of the offering period of the purchase plan. | |||||||||
Fair value of Restricted Stock Units | |||||||||
Restricted stock units are converted into shares of Trimble common stock upon vesting on a one-for-one basis. Vesting of restricted stock units is subject to the employee’s continuing service to the Company. The compensation expense related to these awards was determined using the fair value of Trimble’s common stock on the date of grant, and the expense is recognized on a straight-line basis over the vesting period. Restricted stock units typically vest at the end of three years. | |||||||||
Fair value of Trimble Options | |||||||||
Stock option expense recognized in the Consolidated Statements of Income is based on the fair value of the portion of share-based payment awards that is expected to vest during the period and is net of estimated forfeitures. The Company’s compensation expense for stock options is recognized using the straight-line single option method. The fair value for stock options is estimated on the date of grant using the binomial valuation model. The binomial model takes into account variables such as volatility, dividend yield rate, and risk free interest rate. In addition, the binomial model incorporates actual option-pricing behavior and changes in volatility over the option’s contractual term. | |||||||||
Under the binomial model, the weighted average grant-date fair value of stock options granted during fiscal years 2013, 2012 and 2011 was $7.90, $7.51, and $7.62, respectively. For options granted during fiscal 2013, 2012 and 2011, the following weighted-average assumptions were used: | |||||||||
Fiscal Years | 2013 | 2012 | 2011 | ||||||
Expected dividend yield | — | — | — | ||||||
Expected stock price volatility | 35 | % | 41 | % | 45 | % | |||
Risk free interest rate | 0.69 | % | 0.62 | % | 1.13 | % | |||
Expected life of options | 3.9 years | 4.1 years | 4.2 years | ||||||
Expected Dividend Yield—The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. | |||||||||
Expected Stock Price Volatility—The Company’s computation of expected volatility is based on a combination of implied volatilities from traded options on the Company’s stock and historical volatility. The Company used implied and historical volatility as the combination was more representative of future stock price trends than historical volatility alone. | |||||||||
Expected Risk Free Interest Rate—The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option. | |||||||||
Expected Life of Options—The Company’s expected term represents the period that the Company’s stock options are expected to be outstanding and was determined based on historical experience of similar stock options with consideration for the contractual terms of the stock options, vesting schedules and expectations of future employee behavior. | |||||||||
Property And Equipment, Net | ' | ||||||||
Property and Equipment, Net | |||||||||
Property and equipment, net is stated at cost less accumulated depreciation. Depreciation of property and equipment owned is computed using the straight-line method over the shorter of the estimated useful lives or the lease terms when applicable. Useful lives generally include a range from four to six years for machinery and equipment, five to seven years for furniture and fixtures, two to five years for computer equipment and software, 39 years for buildings, and the life of the lease for leasehold improvements. The Company capitalizes eligible costs to acquire or develop internal-use software that are incurred subsequent to the preliminary project stage. Capitalized costs related to internal-use software are amortized using the straight-line method over the estimated useful lives of the assets, which range generally from two to five years. The costs of repairs and maintenance are expensed when incurred, while expenditures for refurbishments and improvements that significantly add to the productive capacity or extend the useful life of an asset are capitalized. Depreciation expense was $26.7 million in fiscal 2013, $23.7 million in fiscal 2012 and $20.5 million in fiscal 2011. | |||||||||
Derivative Financial Instruments | ' | ||||||||
Derivative Financial Instruments | |||||||||
The Company enters into foreign exchange forward contracts to minimize the short-term impact of foreign currency fluctuations on cash, certain trade and inter-company receivables and payables, primarily denominated in Australian, Canadian, Singapore and New Zealand Dollars, Japanese Yen, Chinese Yuan, Indian Rupee, Brazilian Real, South African Rand, Swedish Krona, Swiss Franc, Euro and British pound. These contracts reduce the exposure to fluctuations in exchange rate movements as the gains and losses associated with foreign currency balances are generally offset with the gains and losses on the forward contracts. These instruments are marked to market through earnings every period and generally range from one to three months in original maturity. The Company occasionally enters into foreign exchange forward contracts to hedge the purchase price of some of its larger business acquisitions. The Company does not enter into foreign exchange forward contracts for trading purposes. | |||||||||
Income Taxes | ' | ||||||||
Income Taxes | |||||||||
Income taxes are accounted for under the liability method whereby deferred tax assets or liability account balances are calculated at the balance sheet date using current tax laws and rates in effect for the year in which the differences are expected to affect taxable income. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets if it is more likely than not such assets will not be realized. The Company’s valuation allowance is primarily attributable to foreign net operating losses and state research and development credit carryforwards. Management believes that it is more likely than not that the Company will not realize certain of these deferred tax assets, and, accordingly, a valuation allowance has been provided for such amounts. Valuation allowance adjustments associated with an acquisition after the measurement period are recorded through income tax expense. | |||||||||
Relative to uncertain tax positions, the Company only recognizes the tax benefit if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. See Note 10 to the Consolidated Financial Statements for additional information. | |||||||||
Computation Of Earnings Per Share | ' | ||||||||
Computation of Earnings Per Share | |||||||||
The number of shares used in the calculation of basic earnings per share represents the weighted average common shares outstanding during the period and excludes any potentially dilutive securities including outstanding stock options, shares to be purchased under the Company’s employee stock purchase plan, unvested restricted stock units and restricted stock awards, warrants, and convertible securities. The dilutive effects of outstanding stock options, shares to be purchased under the Company’s employee stock purchase plan, non-vested restricted stock units and restricted stock awards, warrants, and convertible securities are included in diluted earnings per share. | |||||||||
Recent Accounting Pronouncements | ' | ||||||||
Recent Accounting Pronouncements | |||||||||
In July 2013, the Financial Accounting Standards Board ("FASB") issued a new accounting standard that will generally require the presentation of certain unrecognized tax benefits as reductions to deferred tax assets rather than as liabilities in the Consolidated Balance Sheets when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Trimble will adopt this new standard on a prospective basis in the first quarter of fiscal 2014. The Company does not anticipate a material impact on its consolidated financial statements as a result of this change. |
Accounting_Policies_Tables
Accounting Policies (Tables) | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Schedule Of Changes In Product Warranty Liability | ' | |||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Beginning balance | $ | 17,066 | $ | 18,444 | ||||
Acquired warranties | 154 | 62 | ||||||
Accruals for warranties issued | 20,356 | 21,909 | ||||||
Changes in estimates | 402 | (1,091 | ) | |||||
Warranty settlements (in cash or in kind) | (20,197 | ) | (22,258 | ) | ||||
Ending Balance | $ | 17,781 | $ | 17,066 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule Of Computation Of Earnings Per Share And Effect On Weighted-Average Number Of Shares | ' | |||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands, except per share data) | ||||||||||||
Numerator: | ||||||||||||
Net income attributable to Trimble Navigation Ltd. | $ | 218,855 | $ | 191,060 | $ | 150,755 | ||||||
Denominator: | ||||||||||||
Weighted average number of common shares used in basic earnings per share | 256,648 | 251,132 | 245,450 | |||||||||
Effect of dilutive securities | 4,558 | 5,642 | 6,816 | |||||||||
Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share | 261,206 | 256,774 | 252,266 | |||||||||
Basic earnings per share | $ | 0.85 | $ | 0.76 | $ | 0.61 | ||||||
Diluted earnings per share | $ | 0.84 | $ | 0.74 | $ | 0.6 | ||||||
Business_Combinations_Tables
Business Combinations (Tables) | 12 Months Ended | |||||||||||||||||||||||
Jan. 03, 2014 | ||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||||||||||
Business Combination, Separately Recognized Transactions [Table Text Block] | ' | |||||||||||||||||||||||
(in thousands) | Fiscal 2013 | Fiscal 2012 | Fiscal 2011 | |||||||||||||||||||||
Fair value of total purchase consideration | $ | 284,710 | $ | 747,822 | $ | 797,801 | ||||||||||||||||||
Fair value of net assets acquired | 20,919 | 28,846 | 23,121 | |||||||||||||||||||||
Identified intangible assets | 130,063 | 284,861 | 374,928 | |||||||||||||||||||||
Deferred taxes | (26,326 | ) | (69,774 | ) | (96,330 | ) | ||||||||||||||||||
Noncontrolling interest | (1,968 | ) | (387 | ) | — | |||||||||||||||||||
Goodwill | $ | 162,022 | $ | 504,276 | $ | 496,082 | ||||||||||||||||||
Schedule Of Total Intangible Assets | ' | |||||||||||||||||||||||
At the End of Fiscal 2013 | At the End of Fiscal 2012 | |||||||||||||||||||||||
(in thousands) | Gross Carrying | Accumulated | Net Carrying | Gross Carrying | Accumulated | Net Carrying | ||||||||||||||||||
Amount | Amortization | Amount | Amount | Amortization | Amount | |||||||||||||||||||
Developed product technology | $ | 699,479 | $ | (363,389 | ) | $ | 336,090 | $ | 610,643 | $ | (267,952 | ) | $ | 342,691 | ||||||||||
Trade names and trademarks | 46,195 | (28,699 | ) | 17,496 | 42,512 | (23,241 | ) | 19,271 | ||||||||||||||||
Customer relationships | 424,630 | (189,338 | ) | 235,292 | 385,269 | (135,571 | ) | 249,698 | ||||||||||||||||
Distribution rights and other intellectual properties | 79,844 | (49,323 | ) | 30,521 | 72,510 | (39,751 | ) | 32,759 | ||||||||||||||||
$ | 1,250,148 | $ | (630,749 | ) | $ | 619,399 | $ | 1,110,934 | $ | (466,515 | ) | $ | 644,419 | |||||||||||
Schedule Of Amortization Expense Of Purchased And Other Intangible Assets | ' | |||||||||||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Reported as: | ||||||||||||||||||||||||
Cost of sales | $ | 81,119 | $ | 60,277 | $ | 37,197 | ||||||||||||||||||
Operating expenses | 81,722 | 65,430 | 48,705 | |||||||||||||||||||||
Total | $ | 162,841 | $ | 125,707 | $ | 85,902 | ||||||||||||||||||
Schedule Of Estimated Future Amortization Expense Of Intangible Assets | ' | |||||||||||||||||||||||
2014 | $ | 151,661 | ||||||||||||||||||||||
2015 | 138,975 | |||||||||||||||||||||||
2016 | 119,502 | |||||||||||||||||||||||
2017 | 97,629 | |||||||||||||||||||||||
2018 | 68,103 | |||||||||||||||||||||||
Thereafter | 43,529 | |||||||||||||||||||||||
Total | $ | 619,399 | ||||||||||||||||||||||
Schedule Of Changes In Carrying Amount Of Goodwill | ' | |||||||||||||||||||||||
Engineering | Field | Mobile | Advanced | Total | ||||||||||||||||||||
and | Solutions | Solutions | Devices | |||||||||||||||||||||
Construction | ||||||||||||||||||||||||
At the end of fiscal 2012 | $ | 958,103 | $ | 68,684 | $ | 763,386 | $ | 25,526 | $ | 1,815,699 | ||||||||||||||
Additions due to acquisitions | 109,119 | 18,513 | 34,390 | — | 162,022 | |||||||||||||||||||
Purchase price adjustments | 26 | — | 441 | 35 | 502 | |||||||||||||||||||
Foreign currency translation adjustments | 12,992 | 1,454 | (2,123 | ) | (1,076 | ) | 11,247 | |||||||||||||||||
At the end of fiscal 2013 | $ | 1,080,240 | $ | 88,651 | $ | 796,094 | $ | 24,485 | $ | 1,989,470 | ||||||||||||||
Schedule of Business Acquisitions, by Acquisition | ' | |||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||
TMW | Tekla | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Total purchase consideration | $ | 333,414 | $ | 457,387 | * | |||||||||||||||||||
Net tangible assets acquired | 3,068 | 13,279 | ||||||||||||||||||||||
Intangible assets acquired: | Estimated Useful Life | Estimated Useful Life | ||||||||||||||||||||||
Developed product technology | 71,250 | 6 years | 107,260 | 7 years | ||||||||||||||||||||
In-process research and development | — | 7,591 | Evaluated upon completion | |||||||||||||||||||||
Order backlog | 2,630 | 1 year | 1,246 | 6 months | ||||||||||||||||||||
Customer relationships | 70,900 | 8 years | 83,929 | 8 years | ||||||||||||||||||||
Trade name | 4,200 | 5 years | 7,648 | 8 years | ||||||||||||||||||||
Subtotal | 148,980 | 207,674 | ||||||||||||||||||||||
Deferred tax liability | (52,495 | ) | (53,996 | ) | ||||||||||||||||||||
Less fair value of all assets/liabilities acquired | 99,553 | 166,957 | ||||||||||||||||||||||
Goodwill | $ | 233,861 | $ | 290,430 | ||||||||||||||||||||
* Of the $457.4 million, $2.5 million was held in a cash account at the end of fiscal 2011 and represents the 0.54% of shares that were not yet acquired by the Company. In February, 2012 the Company purchased the remaining shares at the same per share price as was provided for the original 99.46% of shares obtained. Therefore, the non-controlling interest was valued based on that per-share price. | ||||||||||||||||||||||||
Schedule Of Net Tangible Assets Acquired | ' | |||||||||||||||||||||||
Details of the net tangible assets acquired are as follows: | ||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||
TMW | Tekla | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,478 | $ | 12,871 | ||||||||||||||||||||
Accounts receivable | 17,719 | 12,862 | ||||||||||||||||||||||
Other receivables | 549 | 1,712 | ||||||||||||||||||||||
Deferred income taxes | 1,162 | — | ||||||||||||||||||||||
Other current assets | 1,967 | 2,181 | ||||||||||||||||||||||
Property and equipment, net | 1,773 | 4,066 | ||||||||||||||||||||||
Other non-current assets | 278 | 5,113 | ||||||||||||||||||||||
Accounts payable | (409 | ) | (1,329 | ) | ||||||||||||||||||||
Accrued liabilities | (8,642 | ) | (12,842 | ) | ||||||||||||||||||||
Deferred revenue liability | (7,677 | ) | (10,048 | ) | ||||||||||||||||||||
Deferred income tax liabilities | (4,841 | ) | — | |||||||||||||||||||||
Other non-current liabilities | (289 | ) | (1,307 | ) | ||||||||||||||||||||
Net tangible assets acquired | $ | 3,068 | $ | 13,279 | ||||||||||||||||||||
Schedule Of Pro Forma Financial Information | ' | |||||||||||||||||||||||
The pro forma information for fiscal 2012 and 2011 is as follows: | ||||||||||||||||||||||||
Fiscal Years | 2012 | 2011 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
Total revenues | $ | 2,132,918 | $ | 1,784,822 | ||||||||||||||||||||
Net income | 193,837 | 143,850 | ||||||||||||||||||||||
Net income attributable to Trimble Navigation Ltd. | 195,181 | 145,695 | ||||||||||||||||||||||
Basic earnings per share | $ | 1.55 | $ | 1.19 | ||||||||||||||||||||
Diluted earnings per share | $ | 1.52 | $ | 1.16 | ||||||||||||||||||||
Certain_Balance_Sheet_Componen1
Certain Balance Sheet Components (Tables) | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Balance Sheet Related Disclosures [Abstract] | ' | |||||||
Components Of Net Inventories | ' | |||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Inventories: | ||||||||
Raw materials | $ | 94,988 | $ | 89,016 | ||||
Work-in-process | 6,871 | 6,658 | ||||||
Finished goods | 152,452 | 144,855 | ||||||
Total inventories, net | $ | 254,311 | $ | 240,529 | ||||
Components Of Property And Equipment | ' | |||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Property and equipment, net: | ||||||||
Machinery and equipment | $ | 179,267 | $ | 151,180 | ||||
Furniture and fixtures | 24,254 | 19,370 | ||||||
Leasehold improvements | 22,806 | 22,033 | ||||||
Construction in progress | 29,219 | 36,451 | ||||||
Buildings | 46,451 | 8,967 | ||||||
Land | 5,113 | 1,544 | ||||||
307,110 | 239,545 | |||||||
Less accumulated depreciation | (164,135 | ) | (142,655 | ) | ||||
Total | $ | 142,975 | $ | 96,890 | ||||
Components Of Other Non-Current Liabilities | ' | |||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Other non-current liabilities: | ||||||||
Deferred compensation | $ | 16,545 | $ | 12,875 | ||||
Pension | 12,289 | 11,081 | ||||||
Deferred rent | 3,524 | 5,309 | ||||||
Unrecognized tax benefits | 36,033 | 22,343 | ||||||
Other | 12,591 | 6,714 | ||||||
Total | $ | 80,982 | $ | 58,322 | ||||
Reporting_Segment_And_Geograph1
Reporting Segment And Geographic Information (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | |||||||||||
Schedule Of Revenue, Operating Income And Identifiable Assets By Segment | ' | |||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Engineering & Construction | ||||||||||||
Revenue | $ | 1,222,040 | $ | 1,089,424 | $ | 906,497 | ||||||
Operating income | 251,258 | 207,174 | 149,015 | |||||||||
Depreciation expense | 12,022 | 10,563 | 9,581 | |||||||||
Field Solutions | ||||||||||||
Revenue | $ | 473,891 | $ | 481,962 | $ | 413,721 | ||||||
Operating income | 173,114 | 182,134 | 160,139 | |||||||||
Depreciation expense | 633 | 555 | 595 | |||||||||
Mobile Solutions | ||||||||||||
Revenue | $ | 465,138 | $ | 348,147 | $ | 218,540 | ||||||
Operating income | 63,961 | 32,459 | 4,461 | |||||||||
Depreciation expense | 4,579 | 3,679 | 2,154 | |||||||||
Advanced Devices | ||||||||||||
Revenue | $ | 127,055 | $ | 120,580 | $ | 105,307 | ||||||
Operating income | 26,577 | 19,166 | 13,891 | |||||||||
Depreciation expense | 787 | 880 | 901 | |||||||||
Total | ||||||||||||
Revenue | $ | 2,288,124 | $ | 2,040,113 | $ | 1,644,065 | ||||||
Operating income | 514,910 | 440,933 | 327,506 | |||||||||
Depreciation expense | 18,021 | 15,677 | 13,231 | |||||||||
At the End of Fiscal Year | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Engineering & Construction | ||||||||||||
Accounts receivable | $ | 185,634 | $ | 171,580 | $ | 160,218 | ||||||
Inventories | 171,863 | 148,241 | 128,433 | |||||||||
Goodwill | 1,080,240 | 958,103 | 697,237 | |||||||||
Field Solutions | ||||||||||||
Accounts receivable | $ | 62,859 | $ | 71,465 | $ | 63,542 | ||||||
Inventories | 39,554 | 44,738 | 51,756 | |||||||||
Goodwill | 88,651 | 68,684 | 68,268 | |||||||||
Mobile Solutions | ||||||||||||
Accounts receivable | $ | 70,174 | $ | 59,720 | $ | 36,465 | ||||||
Inventories | 27,664 | 30,598 | 31,262 | |||||||||
Goodwill | 796,094 | 763,386 | 508,260 | |||||||||
Advanced Devices | ||||||||||||
Accounts receivable | $ | 19,265 | $ | 20,712 | $ | 14,976 | ||||||
Inventories | 15,230 | 16,952 | 20,612 | |||||||||
Goodwill | 24,485 | 25,526 | 23,927 | |||||||||
Total | ||||||||||||
Accounts receivable | $ | 337,932 | $ | 323,477 | $ | 275,201 | ||||||
Inventories | 254,311 | 240,529 | 232,063 | |||||||||
Goodwill | 1,989,470 | 1,815,699 | 1,297,692 | |||||||||
Reconciliation Of The Company's Consolidated Segment Operating Income To Consolidated Income Before Income Taxes | ' | |||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Consolidated segment operating income | $ | 514,910 | $ | 440,933 | $ | 327,506 | ||||||
Unallocated corporate expense | (86,788 | ) | (82,203 | ) | (70,310 | ) | ||||||
Acquisition costs | (13,544 | ) | (20,455 | ) | (14,892 | ) | ||||||
Amortization of purchased intangible assets | (162,841 | ) | (125,707 | ) | (85,902 | ) | ||||||
Consolidated operating income | 251,737 | 212,568 | 156,402 | |||||||||
Non-operating income, net | 1,127 | 16,856 | 11,052 | |||||||||
Consolidated income before taxes | $ | 252,864 | $ | 229,424 | $ | 167,454 | ||||||
Schedule Of Revenue From Customers | ' | |||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Revenue (1): | ||||||||||||
United States | $ | 1,131,230 | $ | 962,865 | $ | 733,171 | ||||||
Europe | 535,559 | 456,472 | 402,548 | |||||||||
Asia Pacific | 317,237 | 320,131 | 251,234 | |||||||||
Other non-US countries | 304,098 | 300,645 | 257,112 | |||||||||
Total consolidated revenue | $ | 2,288,124 | $ | 2,040,113 | $ | 1,644,065 | ||||||
-1 | Revenue is attributed to countries based on the location of the customer. | |||||||||||
Schedule Of Long-Lived Assets | ' | |||||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Property and equipment, net: | ||||||||||||
United States | $ | 112,034 | $ | 70,838 | ||||||||
Europe | 20,159 | 17,550 | ||||||||||
Asia Pacific and other non-US countries | 10,782 | 8,502 | ||||||||||
Total property and equipment, net | $ | 142,975 | $ | 96,890 | ||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Long-term Debt, Unclassified [Abstract] | ' | |||||||
Schedule Of Debt | ' | |||||||
Debt consisted of the following: | ||||||||
At the End of Fiscal | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Credit Facilities: | ||||||||
Term loan | $ | 665,000 | $ | 700,000 | ||||
Revolving credit facility | 85,000 | 208,000 | ||||||
Promissory notes and other debt | 8,458 | 3,158 | ||||||
Total debt | 758,458 | 911,158 | ||||||
Less: Current portion of long-term debt | 106,402 | 38,092 | ||||||
Non-current portion | $ | 652,056 | $ | 873,066 | ||||
Schedule of Maturities of Long-term Debt | ' | |||||||
At the end of fiscal 2013, the Company's debt maturities based on outstanding principal were as follows (in thousands): | ||||||||
Year Payable | ||||||||
2014 | $ | 97,652 | ||||||
2015 | 61,306 | |||||||
2016 | 70,000 | |||||||
2017 | 385,000 | |||||||
2018 and thereafter | 144,500 | |||||||
Total | $ | 758,458 | ||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | |||
Jan. 03, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule Of Estimated Future Minimum Operating Lease Commitments | ' | |||
2014 | $ | 28,648 | ||
2015 | 21,521 | |||
2016 | 14,681 | |||
2017 | 10,180 | |||
2018 | 4,884 | |||
Thereafter | 11,888 | |||
Total | $ | 91,802 | ||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Jan. 03, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets And Liabilities Measured At Fair Value On A Recurring Basis | ' | |||||||||||||||
Fair Values at the end of Fiscal 2013 | ||||||||||||||||
(in thousands) | Level I | Level II | Level III | Total | ||||||||||||
Assets | ||||||||||||||||
Money market funds (1) | $ | 2 | $ | — | $ | — | $ | 2 | ||||||||
Deferred compensation plan assets (2) | 16,545 | — | — | 16,545 | ||||||||||||
Derivative assets (3) | — | 196 | — | 196 | ||||||||||||
Total | $ | 16,547 | $ | 196 | $ | — | $ | 16,743 | ||||||||
Liabilities | ||||||||||||||||
Deferred compensation plan liabilities (2) | $ | 16,545 | $ | — | $ | — | $ | 16,545 | ||||||||
Derivative liabilities (3) | — | 635 | — | 635 | ||||||||||||
Contingent consideration liability (4) | — | — | 2,401 | 2,401 | ||||||||||||
Total | $ | 16,545 | $ | 635 | $ | 2,401 | $ | 19,581 | ||||||||
Fair Values at the end of Fiscal 2012 | ||||||||||||||||
(in thousands) | Level I | Level II | Level III | Total | ||||||||||||
Assets | ||||||||||||||||
Money market funds (1) | $ | 2 | $ | — | $ | — | $ | 2 | ||||||||
Deferred compensation plan assets (2) | 12,875 | — | — | 12,875 | ||||||||||||
Derivative assets (3) | — | 343 | — | 343 | ||||||||||||
Total | $ | 12,877 | $ | 343 | $ | — | $ | 13,220 | ||||||||
Liabilities | ||||||||||||||||
Deferred compensation plan liabilities (2) | $ | 12,875 | $ | — | $ | — | $ | 12,875 | ||||||||
Derivative liabilities (3) | — | 420 | — | 420 | ||||||||||||
Contingent consideration liability (4) | — | — | 2,235 | 2,235 | ||||||||||||
Total | $ | 12,875 | $ | 420 | $ | 2,235 | $ | 15,530 | ||||||||
-1 | The money market funds are highly liquid investments. The fair values are determined using observable quoted prices in active markets. Money market funds are included in Cash and cash equivalents on the Company’s Consolidated Balance Sheets. | |||||||||||||||
-2 | The Company maintains a self-directed, non-qualified deferred compensation plan for certain executives and other highly compensated employees. The plan assets and liabilities are invested in actively traded mutual funds and individual stocks valued using observable quoted prices in active markets. Deferred compensation plan assets and liabilities are included in Other non-current assets and Other non-current liabilities on the Company's Consolidated Balance Sheets. | |||||||||||||||
-3 | Derivative assets and liabilities primarily represent forward currency exchange contracts. The Company typically enters into these contracts to minimize the short-term impact of foreign currency exchange rates on certain trade and inter-company receivables and payables. Derivative assets and liabilities are included in Other current assets and Other current liabilities on the Company's Consolidated Balance Sheets. | |||||||||||||||
-4 | Contingent consideration liability represents arrangements to pay the former owners of certain companies that Trimble acquired. The undiscounted maximum payment under the arrangements is $13.7 million at the end of fiscal 2013, based on future revenues or gross margins. Contingent consideration liability is included on Other current liabilities and Other non-current liabilities on the Company's Consolidated Balance Sheets. | |||||||||||||||
Additional Fair Value Information Relating To The Company's Financial Instruments Outstanding | ' | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||||||||||
(in thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 147,227 | $ | 147,227 | $ | 157,771 | $ | 157,771 | ||||||||
Forward foreign currency exchange contracts | 196 | 196 | 343 | 343 | ||||||||||||
Liabilities: | ||||||||||||||||
Credit facility | $ | 750,000 | $ | 750,000 | $ | 908,000 | $ | 908,000 | ||||||||
Forward foreign currency exchange contracts | 635 | 635 | 420 | 420 | ||||||||||||
Promissory notes and other debt | 8,458 | 8,458 | 3,158 | 3,158 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule Of Income Before Taxes, United States And Foreign | ' | |||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Income before taxes: | ||||||||||||
United States | $ | 78,271 | $ | 72,025 | $ | 40,259 | ||||||
Foreign | 174,593 | 157,399 | 127,195 | |||||||||
Total | $ | 252,864 | $ | 229,424 | $ | 167,454 | ||||||
Schedule Of Provision For Taxes | ' | |||||||||||
Provision for taxes: | ||||||||||||
US Federal: | ||||||||||||
Current | $ | 38,543 | $ | 33,689 | $ | 21,157 | ||||||
Deferred | (8,708 | ) | (1,930 | ) | (9,351 | ) | ||||||
29,835 | 31,759 | 11,806 | ||||||||||
US State: | ||||||||||||
Current | 6,939 | 4,273 | 5,169 | |||||||||
Deferred | (790 | ) | (1,280 | ) | (3,370 | ) | ||||||
6,149 | 2,993 | 1,799 | ||||||||||
Foreign: | ||||||||||||
Current | 17,636 | 19,470 | 17,278 | |||||||||
Deferred | (18,922 | ) | (14,514 | ) | (12,338 | ) | ||||||
(1,286 | ) | 4,956 | 4,940 | |||||||||
Income tax provision | $ | 34,698 | $ | 39,708 | $ | 18,545 | ||||||
Effective tax rate | 14 | % | 17 | % | 11 | % | ||||||
Schedule Of Difference Between The Tax Provision At The Statutory Federal Income Tax Rate And The Tax Provision As A Percentage Of Income Before Taxes (Effective Tax Rate) | ' | |||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
Statutory federal income tax rate | 35 | % | 35 | % | 35 | % | ||||||
Increase (reduction) in tax rate resulting from: | ||||||||||||
Foreign income taxed at lower rates | (20 | )% | (19 | )% | (22 | )% | ||||||
US State income taxes | 2 | % | 1 | % | 1 | % | ||||||
US Federal and California research and development credits | (3 | )% | — | % | (3 | )% | ||||||
Stock option compensation | 1 | % | 1 | % | 1 | % | ||||||
Settlement with tax authorities | — | % | — | % | (1 | )% | ||||||
Foreign tax rate change | (2 | )% | — | % | (1 | )% | ||||||
Other | 1 | % | (1 | )% | 1 | % | ||||||
Effective tax rate | 14 | % | 17 | % | 11 | % | ||||||
Schedule Of Deferred Tax Assets And Liabilities | ' | |||||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Deferred tax liabilities: | ||||||||||||
Purchased intangibles | $ | 152,437 | $ | 171,238 | ||||||||
Depreciation and amortization | 9,008 | 8,712 | ||||||||||
US residual tax on foreign earnings | 10,464 | 973 | ||||||||||
Other | 458 | 631 | ||||||||||
Total deferred tax liabilities | 172,367 | 181,554 | ||||||||||
Deferred tax assets: | ||||||||||||
Inventory valuation differences | 8,792 | 10,917 | ||||||||||
Expenses not currently deductible | 25,086 | 27,107 | ||||||||||
Deferred revenue | 2,884 | 2,838 | ||||||||||
US state credit carryforwards | 14,125 | 13,495 | ||||||||||
Warranty | 3,142 | 3,135 | ||||||||||
US Federal net operating loss carryforwards | 3,660 | 5,951 | ||||||||||
Foreign net operating loss carryforwards | 35,388 | 25,053 | ||||||||||
Stock-based compensation | 15,704 | 13,000 | ||||||||||
Other | 2,665 | 2,251 | ||||||||||
Total deferred tax assets | 111,446 | 103,747 | ||||||||||
Valuation allowance | (31,944 | ) | (22,137 | ) | ||||||||
Total deferred tax assets | 79,502 | 81,610 | ||||||||||
Total net deferred tax liabilities | $ | (92,865 | ) | $ | (99,944 | ) | ||||||
Reported as: | ||||||||||||
Current deferred income tax assets | $ | 38,597 | $ | 43,473 | ||||||||
Non-current deferred income tax assets | 5,553 | 4,927 | ||||||||||
Current deferred income tax liabilities | (616 | ) | (84 | ) | ||||||||
Non-current deferred income tax liabilities | (136,399 | ) | (148,260 | ) | ||||||||
Net deferred tax liabilities | $ | (92,865 | ) | $ | (99,944 | ) | ||||||
Schedule Of Reconciliation Of Unrecognized Tax Benefit | ' | |||||||||||
At the End of Fiscal Year | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Beginning balance | $ | 32,250 | $ | 25,984 | $ | 25,473 | ||||||
Increase related to prior years tax positions | 1,777 | — | 706 | |||||||||
Increase related to current year tax positions | 11,976 | 11,604 | 7,313 | |||||||||
Lapse of statute of limitations | (1,896 | ) | (1,801 | ) | (2,862 | ) | ||||||
Settlement with taxing authorities | — | (3,537 | ) | (4,646 | ) | |||||||
Ending balance | $ | 44,107 | $ | 32,250 | $ | 25,984 | ||||||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 12 Months Ended | |||||||
Jan. 03, 2014 | ||||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | |||||||
Components Of Accumulated Other Comprehensive Income, Net Of Related Tax | ' | |||||||
The components of accumulated other comprehensive income, net of related tax were as follows: | ||||||||
At the End of Fiscal Year | 2013 | 2012 | ||||||
(in thousands) | ||||||||
Accumulated foreign currency translation adjustments | $ | 34,962 | $ | 24,741 | ||||
Net unrealized actuarial losses | (1,768 | ) | (2,130 | ) | ||||
Total accumulated other comprehensive income | $ | 33,194 | $ | 22,611 | ||||
Employee_Stock_Benefit_Plans_T
Employee Stock Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||
Jan. 03, 2014 | ||||||||||||||||
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ' | |||||||||||||||
Schedule Of Shares Authorized Under Stock Option Plan By Exercise Price Range | ' | |||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||||
Range | Number | Weighted- | Weighted- | Number | Weighted- | |||||||||||
Outstanding | Average | Average | Exercisable | Average | ||||||||||||
Exercise Price | Remaining | Exercise Price | ||||||||||||||
per Share | Contractual Life | per Share | ||||||||||||||
(in years) | ||||||||||||||||
(in thousands, except for per share data) | ||||||||||||||||
5.06 - 8.00 | 392 | $ | 6.96 | 0.85 | 392 | $ | 6.96 | |||||||||
8.01 - 12.00 | 2,963 | 10.1 | 2.39 | 2,635 | 10.03 | |||||||||||
12.01 - 16.00 | 1,702 | 14.96 | 2.76 | 1,360 | 14.86 | |||||||||||
16.01 - 20.00 | 1,555 | 18.09 | 3.77 | 934 | 18.06 | |||||||||||
20.01 - 24.00 | 5,249 | 21.64 | 4.69 | 2,041 | 21.02 | |||||||||||
24.01 - 28.00 | 1,310 | 26.96 | 5.22 | 247 | 26.94 | |||||||||||
28.01 - 31.05 | 1,772 | 28.2 | 6.56 | 102 | 28.08 | |||||||||||
Total | 14,943 | $ | 19.08 | 4.09 | 7,711 | $ | 15.39 | |||||||||
Schedule Of Options Outstanding And Expected To Vest | ' | |||||||||||||||
Number | Weighted- | Weighted- | Aggregate | |||||||||||||
Of Shares | Average | Average | Intrinsic | |||||||||||||
(in thousands) | Exercise Price | Remaining | Value | |||||||||||||
per Share | Contractual Term | (in thousands) | ||||||||||||||
(in years) | ||||||||||||||||
Options outstanding | 14,943 | $ | 19.08 | 4.09 | $ | 231,420 | ||||||||||
Options expected to vest | 6,744 | $ | 22.94 | 5.18 | $ | 78,436 | ||||||||||
Options exercisable | 7,711 | $ | 15.39 | 3.04 | $ | 147,920 | ||||||||||
Schedule Of Stock Options Activity | ' | |||||||||||||||
Options | Weighted average | |||||||||||||||
exercise price | ||||||||||||||||
(in thousands, except for per share data) | ||||||||||||||||
Outstanding at the beginning of year | 16,966 | $ | 16.93 | |||||||||||||
Granted | 1,814 | 28.19 | ||||||||||||||
Exercised | (3,192 | ) | 12.62 | |||||||||||||
Cancelled | (645 | ) | 19.98 | |||||||||||||
Outstanding at the end of year | 14,943 | $ | 19.08 | |||||||||||||
Available for grant | 17,618 | |||||||||||||||
Schedule Of Restricted Stock Unit Activity | ' | |||||||||||||||
Restricted | Weighted Average | |||||||||||||||
Stock Units | Grant-Date Fair Value | |||||||||||||||
(in thousands, except for per share data) | ||||||||||||||||
Unvested at the beginning of year | 1,544 | $ | 20.66 | |||||||||||||
Granted | 1,125 | 28.17 | ||||||||||||||
Vested | (601 | ) | 16.63 | |||||||||||||
Cancelled | (102 | ) | 22.95 | |||||||||||||
Unvested at the end of year | 1,966 | $ | 26.07 | |||||||||||||
Schedule Of Stock-Based Compensation Expense, Net Of Tax, Related To Employee Stock-Based Compensation (For All Plans) | ' | |||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||
(in thousands) | ||||||||||||||||
Cost of sales | $ | 2,573 | $ | 2,005 | $ | 1,955 | ||||||||||
Research and development | 5,039 | 5,319 | 4,624 | |||||||||||||
Sales and marketing | 7,329 | 7,017 | 6,672 | |||||||||||||
General and administrative | 21,501 | 18,319 | 15,200 | |||||||||||||
Total operating expenses | 33,869 | 30,655 | 26,496 | |||||||||||||
Total stock-based compensation expense | $ | 36,442 | $ | 32,660 | $ | 28,451 | ||||||||||
Schedule Of Weighted-Average Assumptions Used In Employee Stock Purchase Plan | ' | |||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||
Expected dividend yield | — | — | — | |||||||||||||
Expected stock price volatility | 35 | % | 41 | % | 45 | % | ||||||||||
Risk free interest rate | 0.69 | % | 0.62 | % | 1.13 | % | ||||||||||
Expected life of options | 3.9 years | 4.1 years | 4.2 years | |||||||||||||
Schedule Of Weighted-Average Assumptions Used In Stock Options Granted | ' | |||||||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||||||
Expected dividend yield | — | — | — | |||||||||||||
Expected stock price volatility | 31.5 | % | 37.9 | % | 34 | % | ||||||||||
Risk free interest rate | 0.12 | % | 0.1 | % | 0.16 | % | ||||||||||
Expected life of purchase | 6 months | 6 months | 6 months | |||||||||||||
Statement_Of_Cash_Flow_Data_Ta
Statement Of Cash Flow Data (Tables) | 12 Months Ended | |||||||||||
Jan. 03, 2014 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Schedule Of Supplemental Disclosure Of Cash Flow Information | ' | |||||||||||
Fiscal Years | 2013 | 2012 | 2011 | |||||||||
(in thousands) | ||||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||
Interest paid | $ | 18,986 | $ | 17,846 | $ | 8,641 | ||||||
Income taxes paid | $ | 42,611 | $ | 20,202 | $ | 13,867 | ||||||
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Tables) | 12 Months Ended | |||||||||||||||
Jan. 03, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Schedule Of Selected Quarterly Financial Data | ' | |||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Fiscal Period | 2013 | 2013 | 2013 | 2013 | ||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Revenue | $ | 556,111 | $ | 576,293 | $ | 556,502 | $ | 599,218 | ||||||||
Gross margin | 286,914 | 302,401 | 295,053 | 319,454 | ||||||||||||
Net income attributable to Trimble Navigation Ltd. | 49,808 | 54,581 | 54,469 | 59,997 | ||||||||||||
Basic net income per share | 0.2 | 0.21 | 0.21 | 0.23 | ||||||||||||
Diluted net income per share | 0.19 | 0.21 | 0.21 | 0.23 | ||||||||||||
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
Fiscal Period | 2012 | 2012 | 2012 | 2012 | ||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Revenue | $ | 502,267 | $ | 517,560 | $ | 504,763 | $ | 515,523 | ||||||||
Gross margin | 259,150 | 267,696 | 262,867 | 256,463 | ||||||||||||
Net income attributable to Trimble Navigation Ltd. | 50,818 | 53,692 | 53,364 | 33,185 | ||||||||||||
Basic net income per share | 0.2 | 0.21 | 0.21 | 0.13 | ||||||||||||
Diluted net income per share | 0.2 | 0.21 | 0.21 | 0.13 | ||||||||||||
Accounting_Policies_Narrative_
Accounting Policies (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
Mar. 20, 2013 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Research and Development Arrangement, Contract to Perform for Others, Compensation Earned | ' | $5,100,000 | $32,900,000 | $23,700,000 |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 | ' | ' | ' |
Advertising expense | ' | 33,800,000 | ' | ' |
Third party funding for research and development costs | ' | ' | 3,500,000 | 7,800,000 |
Depreciation expense | ' | $26,736,000 | $23,691,000 | $20,509,000 |
Maturity period of derivative financial instrument, minimum, in months | ' | '1 month | ' | ' |
Maturity period of derivative financial instrument, maximum, in months | ' | '3 months | ' | ' |
Building [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '39 years | ' | ' |
Leasehold Improvements [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Estimated Useful Lives | ' | ' the life of the lease | ' | ' |
Minimum [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Estimated useful lives goodwill and purchased intangible assets, in years | ' | '1 month | ' | ' |
Warranty periods for products sold | ' | '90 days | ' | ' |
Minimum [Member] | Machinery And Equipment [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '4 years | ' | ' |
Minimum [Member] | Furniture And Fixtures [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '5 years | ' | ' |
Minimum [Member] | Computer Equipment And Software [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '2 years | ' | ' |
Minimum [Member] | Internal-Use Of Software [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '2 years | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Estimated useful lives goodwill and purchased intangible assets, in years | ' | '12 years | ' | ' |
Warranty periods for products sold | ' | '5 years 6 months | ' | ' |
Maximum [Member] | Machinery And Equipment [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '6 years | ' | ' |
Maximum [Member] | Furniture And Fixtures [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '7 years | ' | ' |
Maximum [Member] | Computer Equipment And Software [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '5 years | ' | ' |
Maximum [Member] | Internal-Use Of Software [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Useful life of asset, in years | ' | '5 years | ' | ' |
Weighted Average [Member] | ' | ' | ' | ' |
Accounting Policies [Line Items] | ' | ' | ' | ' |
Estimated useful lives goodwill and purchased intangible assets, in years | ' | '6 years 4 months 26 days | ' | ' |
Accounting_Policies_Schedule_O
Accounting Policies (Schedule Of Changes In Product Warranty Liability) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 |
Movement in Standard Product Warranty Accrual [Roll Forward] | ' | ' |
Beginning Balance | $17,066 | $18,444 |
Acquired warranties | 154 | 62 |
Accruals for warranties issued | 20,356 | 21,909 |
Changes in estimates | 402 | -1,091 |
Warranty settlements (in cash or in kind) | -20,197 | -22,258 |
Ending Balance | $17,781 | $17,066 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Shares excluded from calculation of diluted earnings per share | 3.1 | 4.8 | 3.8 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Computation Of Earnings Per Share And Effect On Weighted-Average Number Of Shares) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Jan. 03, 2014 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 28, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Net income attributable to Trimble Navigation Ltd. | $59,997 | $54,469 | $54,581 | $49,808 | $33,185 | $53,364 | $53,692 | $50,818 | $218,855 | $191,060 | $150,755 |
Weighted average number of common shares used in basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 256,648 | 251,132 | 245,450 |
Common stock options and restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | 4,558 | 5,642 | 6,816 |
Weighted average number of common shares and dilutive potential common shares used in diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 261,206 | 256,774 | 252,266 |
Basic earnings per share | $0.23 | $0.21 | $0.21 | $0.20 | $0.13 | $0.21 | $0.21 | $0.20 | $0.85 | $0.76 | $0.61 |
Diluted earnings per share | $0.23 | $0.21 | $0.21 | $0.19 | $0.13 | $0.21 | $0.21 | $0.20 | $0.84 | $0.74 | $0.60 |
Business_Combinations_Narrativ
Business Combinations (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||
Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Dec. 30, 2011 | Jul. 08, 2011 | Dec. 28, 2012 | Oct. 02, 2012 | Oct. 02, 2012 | Jan. 03, 2014 | Jan. 03, 2014 | |
Customer Relationships [Member] | Developed Product Technology [Member] | Trade Names And Trademarks [Member] | Distribution Rights And Other Intellectual Properties [Member] | Tekla Corporation [Member] | Tekla Corporation [Member] | Tekla Corporation [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | Minimum [Member] | Maximum [Member] | ||||
Customer Relationships [Member] | Developed Product Technology [Member] | ||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Businesses Acquired | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $333,414,000 | ' | ' | $500,000 | $80,000,000 |
Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual Percentage Of Total Revenue | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant Acquisition, Percentage of Total Cash Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' | ' | ' | ' |
Business Combination Valuation Remeasurement Window | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | ' | ' | ' | ' | ' | 0.54% | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, percentage of shares acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.46% | ' | ' | ' | ' | ' |
Acquisition-related costs | 13,544,000 | 20,455,000 | 14,892,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination, revenue of acquiree | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500,000 | ' | ' | ' | ' |
Weighted-average amortization period, years | ' | ' | ' | '8 years | '6 years | '5 years | '7 years | ' | ' | ' | ' | '8 years | '6 years | ' | ' |
Net deferred tax liabilities | 172,367,000 | 181,554,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination Cash Held In Escrow | ' | ' | ' | ' | ' | ' | ' | ' | $2,500,000 | ' | ' | ' | ' | ' | ' |
Business_Combinations_Schedule
Business Combinations (Schedule Of Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net ) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Goodwill | $1,989,470 | $1,815,699 | $1,297,692 |
Acquired Companies Group [Member] | ' | ' | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' |
Fair value of total purchase consideration | 284,710 | 747,822 | 797,801 |
Fair value of net assets acquired | 20,919 | 28,846 | 23,121 |
Identifiable intangible assets | 130,063 | 284,861 | 374,928 |
Deferred Taxes | -26,326 | -69,774 | -96,330 |
Noncontrolling Interest | -1,968 | -387 | 0 |
Goodwill | $162,022 | $504,276 | $496,082 |
Business_Combinations_Schedule1
Business Combinations (Schedule Of Total Intangible Assets) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $1,250,148 | $1,110,934 |
Accumulated Amortization | -630,749 | -466,515 |
Total | 619,399 | 644,419 |
Developed Product Technology [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 699,479 | 610,643 |
Accumulated Amortization | -363,389 | -267,952 |
Total | 336,090 | 342,691 |
Trade Names And Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 46,195 | 42,512 |
Accumulated Amortization | -28,699 | -23,241 |
Total | 17,496 | 19,271 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 424,630 | 385,269 |
Accumulated Amortization | -189,338 | -135,571 |
Total | 235,292 | 249,698 |
Distribution Rights And Other Intellectual Properties [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 79,844 | 72,510 |
Accumulated Amortization | -49,323 | -39,751 |
Total | $30,521 | $32,759 |
Business_Combinations_Schedule2
Business Combinations (Schedule Of Amortization Expense Of Purchased And Other Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of purchased intangible assets | $81,722 | $65,430 | $48,705 |
Amortization of purchased intangible assets | 162,841 | 125,707 | 85,902 |
Amortization of purchased intangible assets | $81,119 | $60,277 | $37,197 |
Business_Combinations_Schedule3
Business Combinations (Schedule Of Estimated Future Amortization Expense Of Intangible Assets) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Business Combinations [Abstract] | ' | ' |
2014 | $151,661 | ' |
2015 | 138,975 | ' |
2016 | 119,502 | ' |
2017 | 97,629 | ' |
2018 | 68,103 | ' |
Thereafter | 43,529 | ' |
Total | $619,399 | $644,419 |
Business_Combinations_Schedule4
Business Combinations (Schedule Of Changes In Carrying Amount Of Goodwill) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Dec. 28, 2012 | Dec. 28, 2012 |
Engineering And Construction [Member] | Engineering And Construction [Member] | Field Solutions [Member] | Field Solutions [Member] | Mobile Solutions [Member] | Mobile Solutions [Member] | Advanced Devices [Member] | Advanced Devices [Member] | Acquired Companies Group [Member] | Acquired Companies Group [Member] | Acquired Companies Group [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | |||
Mobile Solutions [Member] | |||||||||||||||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | $1,815,699 | $1,297,692 | $958,103 | $697,237 | $68,684 | $68,268 | $763,386 | $508,260 | $25,526 | $23,927 | $162,022 | $504,276 | $496,082 | $233,861 | $233,900 |
Additions due to acquisitions | 162,022 | ' | 109,119 | ' | 18,513 | ' | 34,390 | ' | 0 | ' | ' | ' | ' | ' | ' |
Purchase price adjustments | 502 | ' | 26 | ' | 0 | ' | 441 | ' | 35 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | 11,247 | ' | 12,992 | ' | 1,454 | ' | -2,123 | ' | -1,076 | ' | ' | ' | ' | ' | ' |
Ending Balance | $1,989,470 | $1,297,692 | $1,080,240 | $697,237 | $88,651 | $68,268 | $796,094 | $508,260 | $24,485 | $23,927 | $162,022 | $504,276 | $496,082 | $233,861 | $233,900 |
Business_Combinations_Schedule5
Business Combinations (Schedule Of Net Tangible Assets Acquired) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Jan. 03, 2014 | Jan. 03, 2014 | Dec. 28, 2012 | Oct. 02, 2012 | Dec. 28, 2012 | Dec. 28, 2012 | Oct. 02, 2012 | Dec. 28, 2012 | Oct. 02, 2012 | Dec. 28, 2012 | Oct. 02, 2012 | Dec. 28, 2012 | Dec. 30, 2011 | Jul. 08, 2011 | Jul. 08, 2011 | Dec. 30, 2011 | Dec. 30, 2011 | Jul. 08, 2011 | Dec. 30, 2011 | Jul. 08, 2011 | Dec. 30, 2011 | Jul. 08, 2011 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Dec. 30, 2011 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Dec. 28, 2012 | |
Developed Technology Rights [Member] | Customer Relationships [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | TMW Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | Engineering And Construction [Member] | Engineering And Construction [Member] | Engineering And Construction [Member] | Engineering And Construction [Member] | Field Solutions [Member] | Field Solutions [Member] | Field Solutions [Member] | Field Solutions [Member] | Mobile Solutions [Member] | Mobile Solutions [Member] | Mobile Solutions [Member] | Mobile Solutions [Member] | |||||
Developed Technology Rights [Member] | Developed Technology Rights [Member] | In Process Research And Development Member | Order or Production Backlog [Member] | Order or Production Backlog [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Trade Names [Member] | Trade Names [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | In Process Research And Development Member | Order or Production Backlog [Member] | Order or Production Backlog [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Trade Names [Member] | Trade Names [Member] | Tekla Acquisition [Member] | Tekla Acquisition [Member] | TMW Acquisition [Member] | |||||||||||||||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total purchase consideration | ' | ' | ' | ' | ' | $333,414,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $457,387,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets acquired | ' | ' | ' | ' | ' | 148,980,000 | ' | 71,250,000 | 0 | ' | 2,630,000 | ' | 70,900,000 | ' | 4,200,000 | 207,674,000 | ' | ' | 107,260,000 | 7,591,000 | ' | 1,246,000 | ' | 83,929,000 | ' | 7,648,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Deferred Tax Liabilities | ' | ' | ' | ' | ' | -52,495,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -53,996,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Less fair value of all assets/liabilities acquired | ' | ' | ' | ' | ' | 99,553,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 166,957,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Goodwill | 1,989,470,000 | 1,815,699,000 | 1,297,692,000 | ' | ' | 233,861,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 290,430,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,080,240,000 | 958,103,000 | 697,237,000 | 245,600,000 | 88,651,000 | 68,684,000 | 68,268,000 | 44,800,000 | 796,094,000 | 763,386,000 | 508,260,000 | 233,900,000 | |
Cash snd Cash Equivalents | ' | ' | ' | ' | ' | 1,478,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,871,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Accounts Receivable | ' | ' | ' | ' | ' | 17,719,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,862,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other Receivables | ' | ' | ' | ' | ' | 549,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,712,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Deferred Income Taxes | ' | ' | ' | ' | ' | 1,162,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other Current Assets | ' | ' | ' | ' | ' | 1,967,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,181,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Property, Plant, and Equipment | ' | ' | ' | ' | ' | 1,773,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,066,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other Non Current Assets | ' | ' | ' | ' | ' | 278,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,113,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Accounts Payable | ' | ' | ' | ' | ' | -409,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,329,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Accrued Liabilities | ' | ' | ' | ' | ' | -8,642,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12,842,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Deferred Revenue Liability | ' | ' | ' | ' | ' | -7,677,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -10,048,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Deferred Income Tax Liabilities | ' | ' | ' | ' | ' | -4,841,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other Non Current Liabilities | ' | ' | ' | ' | ' | -289,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,307,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net tangible assets acquired | ' | ' | ' | ' | ' | 3,068,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,279,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | '6 years | '8 years | ' | '6 years | ' | ' | '1 year | ' | '8 years | ' | '5 years | ' | ' | ' | '7 years | ' | ' | '6 months | ' | '8 years | ' | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Cash held in cash account for shares not yet acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Percentage of shares not yet acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.54% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.46% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Revenue contribution of acquired company since acquisition | ' | ' | ' | ' | ' | 16,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Operating income contribution of acquired company since acquisition | ' | ' | ' | ' | ' | $1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | Of the $457.4 million, $2.5 million was held in a cash account at the end of fiscal 2011 and represents the 0.54% of shares that were not yet acquired by the Company. In February, 2012 the Company purchased the remaining shares at the same per share price as was provided for the original 99.46% of shares obtained. Therefore, the non-controlling interest was valued based on that per-share price. |
Business_Combinations_Schedule6
Business Combinations (Schedule Of Pro Forma Financial Information) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 28, 2012 | Dec. 30, 2011 |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ' | ' |
Total revenues | $2,132,918 | $1,784,822 |
Net income | 193,837 | 143,850 |
Net income attributable to Trimble Navigation Ltd | $195,181 | $145,695 |
Basic earnings per share | $1.55 | $1.19 |
Diluted earnings per share | $1.52 | $1.16 |
Certain_Balance_Sheet_Componen2
Certain Balance Sheet Components (Components Of Net Inventories) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Balance Sheet Related Disclosures [Abstract] | ' | ' | ' |
Raw materials | $94,988,000 | $89,016,000 | ' |
Work-in-process | 6,871,000 | 6,658,000 | ' |
Finished goods | 152,452,000 | 144,855,000 | ' |
Total inventories, net | 254,311,000 | 240,529,000 | 232,063,000 |
Deferred Costs, Current | $12,600,000 | $16,200,000 | ' |
Certain_Balance_Sheet_Componen3
Certain Balance Sheet Components (Components Of Property And Equipment) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Balance Sheet Related Disclosures [Abstract] | ' | ' |
Machinery and equipment | $179,267 | $151,180 |
Furniture and fixtures | 24,254 | 19,370 |
Leasehold improvements | 22,806 | 22,033 |
Construction in Progress | 29,219 | 36,451 |
Buildings | 46,451 | 8,967 |
Land | 5,113 | 1,544 |
Property and equipment, gross | 307,110 | 239,545 |
Less accumulated depreciation | -164,135 | -142,655 |
Total | $142,975 | $96,890 |
Certain_Balance_Sheet_Componen4
Certain Balance Sheet Components (Components Of Other Non-Current Liabilities) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Deferred compensation | $16,545 | $12,875 |
Pension | 12,289 | 11,081 |
Deferred rent | 3,524 | 5,309 |
Unrecognized tax benefits | 38,100 | 26,900 |
Other non-current liabilities | 12,591 | 6,714 |
Total | 80,982 | 58,322 |
Other Noncurrent Liabilities [Member] | ' | ' |
Unrecognized tax benefits | $36,033 | $22,343 |
Reporting_Segment_And_Geograph2
Reporting Segment And Geographic Information (Schedule Of Revenue, Operating Income And Identifiable Assets By Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 28, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | $599,218 | $556,502 | $576,293 | $556,111 | $515,523 | $504,763 | $517,560 | $502,267 | $2,288,124 | [1] | $2,040,113 | [1] | $1,644,065 | [1] |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 251,737 | 212,568 | 156,402 | |||
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 26,736 | 23,691 | 20,509 | |||
Accounts receivable | 337,932 | ' | ' | ' | 323,477 | ' | ' | ' | 337,932 | 323,477 | 275,201 | |||
Inventories | 254,311 | ' | ' | ' | 240,529 | ' | ' | ' | 254,311 | 240,529 | 232,063 | |||
Goodwill | 1,989,470 | ' | ' | ' | 1,815,699 | ' | ' | ' | 1,989,470 | 1,815,699 | 1,297,692 | |||
Number of Reportable Segments | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | |||
Maximum percentage of operation accounts for company's total revenue, operating income, and assets | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | |||
Engineering And Construction [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,222,040 | 1,089,424 | 906,497 | |||
Accounts receivable | 185,634 | ' | ' | ' | 171,580 | ' | ' | ' | 185,634 | 171,580 | 160,218 | |||
Inventories | 171,863 | ' | ' | ' | 148,241 | ' | ' | ' | 171,863 | 148,241 | 128,433 | |||
Goodwill | 1,080,240 | ' | ' | ' | 958,103 | ' | ' | ' | 1,080,240 | 958,103 | 697,237 | |||
Field Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 473,891 | 481,962 | 413,721 | |||
Accounts receivable | 62,859 | ' | ' | ' | 71,465 | ' | ' | ' | 62,859 | 71,465 | 63,542 | |||
Inventories | 39,554 | ' | ' | ' | 44,738 | ' | ' | ' | 39,554 | 44,738 | 51,756 | |||
Goodwill | 88,651 | ' | ' | ' | 68,684 | ' | ' | ' | 88,651 | 68,684 | 68,268 | |||
Mobile Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 465,138 | 348,147 | 218,540 | |||
Accounts receivable | 70,174 | ' | ' | ' | 59,720 | ' | ' | ' | 70,174 | 59,720 | 36,465 | |||
Inventories | 27,664 | ' | ' | ' | 30,598 | ' | ' | ' | 27,664 | 30,598 | 31,262 | |||
Goodwill | 796,094 | ' | ' | ' | 763,386 | ' | ' | ' | 796,094 | 763,386 | 508,260 | |||
Advanced Devices [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 127,055 | 120,580 | 105,307 | |||
Accounts receivable | 19,265 | ' | ' | ' | 20,712 | ' | ' | ' | 19,265 | 20,712 | 14,976 | |||
Inventories | 15,230 | ' | ' | ' | 16,952 | ' | ' | ' | 15,230 | 16,952 | 20,612 | |||
Goodwill | 24,485 | ' | ' | ' | 25,526 | ' | ' | ' | 24,485 | 25,526 | 23,927 | |||
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 514,910 | 440,933 | 327,506 | |||
Operating Segments [Member] | Engineering And Construction [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 251,258 | 207,174 | 149,015 | |||
Operating Segments [Member] | Field Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 173,114 | 182,134 | 160,139 | |||
Operating Segments [Member] | Mobile Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 63,961 | 32,459 | 4,461 | |||
Operating Segments [Member] | Advanced Devices [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 26,577 | 19,166 | 13,891 | |||
Segment Reconciling Items [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 18,021 | 15,677 | 13,231 | |||
Segment Reconciling Items [Member] | Engineering And Construction [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 12,022 | 10,563 | 9,581 | |||
Segment Reconciling Items [Member] | Field Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 633 | 555 | 595 | |||
Segment Reconciling Items [Member] | Mobile Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 4,579 | 3,679 | 2,154 | |||
Segment Reconciling Items [Member] | Advanced Devices [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | $787 | $880 | $901 | |||
[1] | Revenue is attributed to countries based on the location of the customer. |
Reporting_Segment_And_Geograph3
Reporting Segment And Geographic Information (Reconciliation Of The Company's Consolidated Segment Operating Income To Consolidated Income Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Operating Expenses | ($952,085) | ($833,609) | ($673,179) |
Acquisition Costs | -13,544 | -20,455 | -14,892 |
Amortization of purchased intangible assets | -162,841 | -125,707 | -85,902 |
Operating income | 251,737 | 212,568 | 156,402 |
Non-operating income, net | 1,127 | 16,856 | 11,052 |
Income before taxes | 252,864 | 229,424 | 167,454 |
Operating Segments [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Operating income | 514,910 | 440,933 | 327,506 |
Corporate, Non-Segment [Member] | ' | ' | ' |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ' | ' | ' |
Operating Expenses | ($86,788) | ($82,203) | ($70,310) |
Reporting_Segment_And_Geograph4
Reporting Segment And Geographic Information (Schedule Of Revenue From Customers) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 28, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Maximum Percentage Of Various Operations Segment By Entities Total Operations | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | |||
Total consolidated revenue | $599,218 | $556,502 | $576,293 | $556,111 | $515,523 | $504,763 | $517,560 | $502,267 | $2,288,124 | [1] | $2,040,113 | [1] | $1,644,065 | [1] |
Number of Reportable Segments | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | |||
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total consolidated revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,131,230 | [1] | 962,865 | [1] | 733,171 | [1] |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total consolidated revenue | ' | ' | ' | ' | ' | ' | ' | ' | 535,559 | [1] | 456,472 | [1] | 402,548 | [1] |
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total consolidated revenue | ' | ' | ' | ' | ' | ' | ' | ' | 317,237 | [1] | 320,131 | [1] | 251,234 | [1] |
Other Non-US Countries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total consolidated revenue | ' | ' | ' | ' | ' | ' | ' | ' | 304,098 | [1] | 300,645 | [1] | 257,112 | [1] |
Advanced Devices [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total consolidated revenue | ' | ' | ' | ' | ' | ' | ' | ' | 127,055 | 120,580 | 105,307 | |||
Ten Percent Customer member [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | |||
Total consolidated revenue | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $0 | |||
[1] | Revenue is attributed to countries based on the location of the customer. |
Reporting_Segment_And_Geograph5
Reporting Segment And Geographic Information (Schedule Of Long-Lived Assets) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | $142,975 | $96,890 |
United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | 112,034 | 70,838 |
Europe [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | 20,159 | 17,550 |
Asia Pacific And Other Non-US Countries [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Long-Lived Assets | $10,782 | $8,502 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||
Jan. 03, 2014 | Dec. 28, 2012 | Nov. 21, 2012 | Jan. 27, 2012 | Nov. 21, 2012 | Jan. 03, 2014 | Dec. 28, 2012 | Nov. 21, 2012 | Jan. 03, 2014 | Dec. 28, 2012 | Jan. 03, 2014 | Dec. 28, 2012 | Jan. 03, 2014 | Jan. 27, 2012 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Dec. 28, 2012 | |
Term Loan [Member] | Term Loan [Member] | Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Promissory Notes And Other [Member] | Promissory Notes And Other [Member] | 2011 Uncommitted Facility [Member] | 2011 Uncommitted Facility [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Long-term Debt [Member] | Long-term Debt [Member] | Long-term Debt [Member] | |||||
Revolving Credit Facility [Member] | 2011 Uncommitted Facility [Member] | Floating Per Annum Rate [Member] | Reserve-Adjusted Fixed Per Annum Rate [Member] | Revolving Credit Facility [Member] | 2011 Uncommitted Facility [Member] | Floating Per Annum Rate [Member] | Reserve-Adjusted Fixed Per Annum Rate [Member] | Revolving Credit Facility [Member] | Promissory Notes And Other [Member] | Promissory Notes And Other [Member] | |||||||||||||||
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Covenant Compliance | 'The Company was in compliance with these covenants at the end of fiscal 2013. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Weighted Average Interest Rate | 1.67% | 1.96% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term Debt, Weighted Average Interest Rate | 1.31% | 1.96% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility term period, years | ' | ' | ' | ' | '5 years | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility interest rate in addition to specific base rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.90% | 0.00% | 1.00% | ' | 1.00% | 1.00% | 2.00% | ' | ' | ' |
Total debt | $758,458,000 | $911,158,000 | ' | ' | ' | $665,000,000 | $700,000,000 | ' | $85,000,000 | $208,000,000 | $8,458,000 | $3,158,000 | $63,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $22,000,000 | $100,000 | $100,000 |
Non-current portion of long-term debt | 652,056,000 | 873,066,000 | ' | ' | ' | 630,000,000 | ' | ' | 22,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured revolving credit facility, initiation date | ' | ' | ' | ' | ' | ' | ' | 21-Nov-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | ' | ' | 1,400,000,000 | ' | 700,000,000 | ' | ' | 700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured Revolving Credit Facility Additional Borrowing Capacity | ' | ' | ' | ' | $300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Revolving Loan Facilities | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured revolving credit facility, expiration date | ' | ' | ' | ' | ' | ' | ' | ' | 21-Nov-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility commitment fee, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.15% | ' | ' | ' | 0.35% | ' | ' | ' | ' | ' | ' |
Amortization of credit facility, percentage, year one | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of credit facility, percentage, year two | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of credit facility, percentage, year three | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of credit facility, percentage, year four | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of credit facility, percentage, year five | ' | ' | ' | ' | ' | 70.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum leverage and minimum interest coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' |
Leverage Ratio On Credit Facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' |
Interest paid on borrowings bearing interest at a fixed rate, months | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Covenant Ratio Increase upon acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_Of_Debt
Long-Term Debt (Schedule Of Debt) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $758,458,000 | $911,158,000 |
Less: current portion of long-term debt | 106,402,000 | 38,092,000 |
Non-current portion | 652,056,000 | 873,066,000 |
Term Loan [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 665,000,000 | 700,000,000 |
Non-current portion | 630,000,000 | ' |
Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 85,000,000 | 208,000,000 |
Non-current portion | 22,000,000 | ' |
Promissory Notes And Other [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $8,458,000 | $3,158,000 |
LongTerm_Debt_LongTerm_Debt_Sc
Long-Term Debt Long-Term Debt (Schedule of Debt Maturities) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $97,652 | ' |
2015 | 61,306 | ' |
2016 | 70,000 | ' |
2017 | 385,000 | ' |
2018 and thereafter | 144,500 | ' |
Long-term Debt | $758,458 | $911,158 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Net rent expense under operating leases | $32.20 | $28.20 | $23.50 |
Unconditional purchase obligations | $133 | ' | ' |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule Of Estimated Future Minimum Payments Operating Leases Commitments) (Details) (USD $) | Jan. 03, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $28,648 |
2015 | 21,521 |
2016 | 14,681 |
2017 | 10,180 |
2018 | 4,884 |
Thereafter | 11,888 |
Total | $91,802 |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $) | 12 Months Ended | |||
Jan. 03, 2014 | Dec. 28, 2012 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | $16,743,000 | $13,220,000 | ||
Foreign Currency Contract, Asset, Fair Value Disclosure | 196,000 | 343,000 | ||
Fair Value, Liabilities | 19,581,000 | 15,530,000 | ||
Foreign Currency Contracts, Liability, Fair Value Disclosure | 635,000 | 420,000 | ||
Maximum payment under all contingent consideration arrangements | 13,700,000 | ' | ||
Level I [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 16,547,000 | 12,877,000 | ||
Fair Value, Liabilities | 16,545,000 | 12,875,000 | ||
Level II [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 196,000 | 343,000 | ||
Fair Value, Liabilities | 635,000 | 420,000 | ||
Level III [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | 2,401,000 | 2,235,000 | ||
Money Market Funds [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 2,000 | [1] | 2,000 | [1] |
Money Market Funds [Member] | Level I [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 2,000 | [1] | 2,000 | [1] |
Deferred Compensation Plan Assets [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 16,545,000 | [2] | 12,875,000 | [2] |
Deferred Compensation Plan Assets [Member] | Level I [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 16,545,000 | [2] | 12,875,000 | [2] |
Derivative Financial Instruments, Assets [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 196,000 | [3] | 343,000 | [3] |
Derivative Financial Instruments, Assets [Member] | Level II [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 196,000 | [3] | 343,000 | [3] |
Deferred Compensation Plan Liabilities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | 16,545,000 | [2] | 12,875,000 | [2] |
Deferred Compensation Plan Liabilities [Member] | Level I [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | 16,545,000 | [2] | 12,875,000 | [2] |
Deferred Compensation Plan Liabilities [Member] | Level II [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | ' | 0 | [2] | |
Derivative Liabilities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | 635,000 | [3] | 420,000 | [3] |
Derivative Liabilities [Member] | Level II [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | 635,000 | [3] | 420,000 | [3] |
Contingent Consideration Liabilities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | 2,401,000 | [4] | 2,235,000 | [4] |
Contingent Consideration Liabilities [Member] | Level III [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Liabilities | $2,401,000 | [4] | $2,235,000 | [4] |
[1] | The money market funds are highly liquid investments. The fair values are determined using observable quoted prices in active markets. Money market funds are included in Cash and cash equivalents on the Company’s Consolidated Balance Sheets. | |||
[2] | The Company maintains a self-directed, non-qualified deferred compensation plan for certain executives and other highly compensated employees. The plan assets and liabilities are invested in actively traded mutual funds and individual stocks valued using observable quoted prices in active markets. Deferred compensation plan assets and liabilities are included in Other non-current assets and Other non-current liabilities on the Company's Consolidated Balance Sheets. | |||
[3] | Derivative assets and liabilities primarily represent forward currency exchange contracts. The Company typically enters into these contracts to minimize the short-term impact of foreign currency exchange rates on certain trade and inter-company receivables and payables. Derivative assets and liabilities are included in Other current assets and Other current liabilities on the Company's Consolidated Balance Sheets. | |||
[4] | Contingent consideration liability represents arrangements to pay the former owners of certain companies that Trimble acquired. The undiscounted maximum payment under the arrangements is $13.7 million at the end of fiscal 2013, based on future revenues or gross margins. Contingent consideration liability is included on Other current liabilities and Other non-current liabilities on the Company's Consolidated Balance Sheets. |
Fair_Value_Measurements_Additi
Fair Value Measurements (Additional Fair Value Information Relating To The Company's Financial Instruments Outstanding) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Dec. 31, 2010 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $147,227,000 | $157,771,000 | $154,621,000 | $220,788,000 |
Cash and Cash Equivalents, Fair Value Disclosure | 147,227,000 | 157,771,000 | ' | ' |
Forward foreign currency exchange contracts - Assets | 196,000 | 343,000 | ' | ' |
Forward foreign currency exchange contracts, Asset, Fair Value Disclosure | 196,000 | 343,000 | ' | ' |
Credit Facility | 758,458,000 | 911,158,000 | ' | ' |
Forward foreign currency exchange contracts - Liability | 635,000 | 420,000 | ' | ' |
Forward foreign currency contracts, Liability, Fair Value Disclosure | 635,000 | 420,000 | ' | ' |
Two Thousand Twelve Credit Facility [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Credit Facility | 750,000,000 | 908,000,000 | ' | ' |
Revolving Credit Facility [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Credit Facility | 85,000,000 | 208,000,000 | ' | ' |
Credit Facility, Fair Value | 750,000,000 | 908,000,000 | ' | ' |
Promissory Notes And Other [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Credit Facility | 8,458,000 | 3,158,000 | ' | ' |
Credit Facility, Fair Value | $8,458,000 | $3,158,000 | ' | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | Dec. 31, 2010 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Dec. 30, 2013 |
Federal [Member] | Federal [Member] | Federal [Member] | California [Member] | Foreign [Member] | Finland [Member] | Finland [Member] | |||||
Minimum [Member] | Maximum [Member] | ||||||||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $38,100,000 | $26,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Enacted Statutory Tax Rate, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 24.50% |
Net operating loss carryforwards | ' | ' | ' | ' | 10,100,000 | ' | ' | 300,000 | 144,800,000 | ' | ' |
Net operating loss carryforwards, expiration, year | ' | ' | ' | ' | ' | 1-Jan-20 | 1-Jan-32 | ' | ' | ' | ' |
Research and development credit carryforwards | ' | ' | ' | ' | ' | ' | ' | 16,300,000 | ' | ' | ' |
Foreign subsidiary accumulated undistributed earnings | 509,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized deferred tax liability | 164,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total amount of the unrecognized tax benefits | 44,107,000 | 32,250,000 | 25,984,000 | 25,473,000 | ' | ' | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $3,600,000 | $2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Before Taxes, United States And Foreign) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | $78,271 | $72,025 | $40,259 |
Foreign | 174,593 | 157,399 | 127,195 |
Income before taxes | $252,864 | $229,424 | $167,454 |
Income_Taxes_Schedule_Of_Provi
Income Taxes (Schedule Of Provision For Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current | $38,543 | $33,689 | $21,157 |
Deferred | -8,708 | -1,930 | -9,351 |
US Federal, Income tax provision | 29,835 | 31,759 | 11,806 |
Current | 6,939 | 4,273 | 5,169 |
Deferred | -790 | -1,280 | -3,370 |
US State, Income tax provision | 6,149 | 2,993 | 1,799 |
Current | 17,636 | 19,470 | 17,278 |
Deferred | -18,922 | -14,514 | -12,338 |
Foreign, Income tax provision | -1,286 | 4,956 | 4,940 |
Income tax provision | $34,698 | $39,708 | $18,545 |
Effective tax rate | 14.00% | 17.00% | 11.00% |
Income_Taxes_Schedule_Of_Diffe
Income Taxes (Schedule Of Difference Between The Tax Provision At The Statutory Federal Income Tax Rate And The Tax Provision As A Percentage Of Income Before Taxes (Effective Tax Rate)) (Details) | 12 Months Ended | ||
Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% |
Foreign income taxed at lower rates | -20.00% | -19.00% | -22.00% |
US State income taxes | 2.00% | 1.00% | 1.00% |
US Federal and California research and development credits | -3.00% | 0.00% | -3.00% |
Stock option compensation | 1.00% | 1.00% | 1.00% |
Settlement with tax authorities | 0.00% | 0.00% | -1.00% |
Foreign tax rate change | -2.00% | 0.00% | -1.00% |
Other | 1.00% | -1.00% | 1.00% |
Effective tax rate | 14.00% | 17.00% | 11.00% |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Purchased intangibles | $152,437 | $171,238 |
Depreciation and amortization | 9,008 | 8,712 |
US residual tax on foreign earnings | 10,464 | 973 |
Other | 458 | 631 |
Total deferred tax liabilities | 172,367 | 181,554 |
Inventory valuation differences | 8,792 | 10,917 |
Expenses not currently deductible | 25,086 | 27,107 |
Deferred revenue | 2,884 | 2,838 |
US State credit carryforwards | 14,125 | 13,495 |
Warranty | 3,142 | 3,135 |
US Federal net operating loss carryforward | 3,660 | 5,951 |
Foreign net operating loss carryforward | 35,388 | 25,053 |
Stock-based compensation | 15,704 | 13,000 |
Other | 2,665 | 2,251 |
Total deferred tax assets | 111,446 | 103,747 |
Valuation allowance | -31,944 | -22,137 |
Total deferred tax assets | 79,502 | 81,610 |
Total net deferred tax assets /(liabilities) | -92,865 | -99,944 |
Current deferred income tax assets | 38,597 | 43,473 |
Non-current deferred income tax assets | 5,553 | 4,927 |
Current deferred income tax liabilities | -616 | -84 |
Non-current deferred income tax liabilities | ($136,399) | ($148,260) |
Income_Taxes_Schedule_Of_Recon
Income Taxes (Schedule Of Reconciliation Of Unrecognized Tax Benefit) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Unrecognized tax Benefits, Beginning Balance | $32,250 | $25,984 | $25,473 |
Increase related to prior years tax positions | 1,777 | 0 | 706 |
Increase related to current year tax positions | 11,976 | 11,604 | 7,313 |
Lapse of statute of limitations | -1,896 | -1,801 | -2,862 |
Settlement with taxing authorities | 0 | -3,537 | -4,646 |
Unrecognized tax Benefits, Ending Balance | $44,107 | $32,250 | $25,984 |
Comprehensive_Income_Component
Comprehensive Income (Components Of Accumulated Other Comprehensive Income, Net Of Related Tax) (Details) (USD $) | Jan. 03, 2014 | Dec. 28, 2012 |
In Thousands, unless otherwise specified | ||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' |
Accumulated foreign currency translation adjustments | $34,962 | $24,741 |
Net unrealized actuarial losses | -1,768 | -2,130 |
Total accumulated other comprehensive income | $33,194 | $22,611 |
Employee_Stock_Benefit_Plans_N
Employee Stock Benefit Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '4 years 1 month 2 days | ' | ' |
Options to purchase, number of shares outstanding | 14,943,000 | 16,966,000 | ' |
Number of restricted stock units unvested | 1,966,000 | 1,544,000 | ' |
Shares available for future grant | 17,618,000 | ' | ' |
Weighted average grant-date fair value, granted | $28.17 | ' | ' |
Exercise prices for options outstanding, lower limit | $5.06 | ' | ' |
Exercise prices for options outstanding, upper limit | $31.05 | ' | ' |
Closing stock price | $34.57 | ' | ' |
Total intrinsic value of options exercised | $55.50 | $89.30 | $64.70 |
Total unamortized compensation expense | 47.4 | ' | ' |
Total unamortized compensation expense weighted-average recognition period, in years | '2 years 10 months 28 days | ' | ' |
Stock Plan Assumed Through Acquisition [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Stock plan acquired | 1 | ' | ' |
Options to purchase, number of shares outstanding | 257,520 | ' | ' |
1990 Stock Option Plan [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Shares available for future grant | 0 | ' | ' |
Employee Stock Purchase Plan [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Percentage of lower fair market value to be purchased of common stock through payroll deductions | 85.00% | ' | ' |
Shares issued | 636,227 | 702,622 | 794,252 |
Stock-based compensation expense | 4 | 3.9 | 3.3 |
Maximum number of shares authorized for grant | 39,100,000 | ' | ' |
Employee stock options granted term, in months | '6 months | ' | ' |
Shares available for future grant | 5,973,148 | ' | ' |
Weighted average grant-date fair value, granted | $8.05 | $6.27 | $5.41 |
Two Thousand Two Stock Plan [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Maximum number of shares authorized for grant | 62,570,248 | ' | ' |
Percentage of fair market value of Common Stock | 100.00% | ' | ' |
2002 Stock Plan [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Shares available for future grant | 0 | ' | ' |
1992 Employee Stock Bonus Plan [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Options to purchase, number of shares outstanding | 0 | ' | ' |
Shares available for future grant | 4,067 | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Stock-based compensation expense | 12.2 | 8.6 | 9.4 |
Share units granted vesting period, in years | '3 years | ' | ' |
Total unamortized compensation expense | 39.2 | ' | ' |
Total unamortized compensation expense weighted-average recognition period, in years | '2 years 4 months 11 days | ' | ' |
Restricted Stock Units (RSUs) [Member] | Two Thousand Two Stock Plan [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share units granted vesting percentage | 100.00% | ' | ' |
Options to purchase, number of shares outstanding | 14,685,605 | ' | ' |
Number of restricted stock units unvested | 1,966,175 | ' | ' |
Shares available for future grant | 17,614,173 | ' | ' |
Share units granted vesting period, in years | '3 years | ' | ' |
Employee Stock Option [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Weighted average grant-date fair value of stock options granted | $7.90 | $7.51 | $7.62 |
Stock-based compensation expense | $20.20 | $20.30 | $15.80 |
Non-Employee Director Stock Options [Member] | Two Thousand Two Stock Plan [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Stock options granted vesting rate | '1/12th per month | ' | ' |
Share units granted vesting period, in years | '1 year | ' | ' |
Non-Employee Director Stock Options [Member] | Two Thousand Two Stock Plan [Member] | Minimum [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '84 months | ' | ' |
Non-Employee Director Stock Options [Member] | Two Thousand Two Stock Plan [Member] | Maximum [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '120 months | ' | ' |
Stock Option Granted Prior To 2013 [Member] | Two Thousand Two Stock Plan [Member] | First Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ' | ' |
Stock Option Granted Prior To 2013 [Member] | Two Thousand Two Stock Plan [Member] | Second Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 40.00% | ' | ' |
Stock Option Granted Prior To 2013 [Member] | Two Thousand Two Stock Plan [Member] | After Second Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ' | ' |
Stock Option Granted Prior To 2013 [Member] | Two Thousand Two Stock Plan [Member] | Fifth Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ' | ' |
Stock Option Granted Prior To 2013 [Member] | Two Thousand Two Stock Plan [Member] | Minimum [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '84 months | ' | ' |
Stock Option Granted Prior To 2013 [Member] | Two Thousand Two Stock Plan [Member] | Maximum [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '120 months | ' | ' |
Stock Option Granted 2013 And After [Member] | Two Thousand Two Stock Plan [Member] | First Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ' | ' |
Stock Option Granted 2013 And After [Member] | Two Thousand Two Stock Plan [Member] | Fourth Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ' | ' |
Certain Stock Option Grants [Member] | Two Thousand Two Stock Plan [Member] | Second Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ' | ' |
Certain Stock Option Grants [Member] | Two Thousand Two Stock Plan [Member] | Fourth Anniversary [Member] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ' | ' |
Employee_Stock_Benefit_Plans_S
Employee Stock Benefit Plans (Schedule Of Shares Authorized Under Stock Option Plan By Exercise Price Range) (Details) (USD $) | 12 Months Ended |
Jan. 03, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 14,943,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $19.08 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '4 years 1 month 2 days |
Options Exercisable Range, Number Exercisable | 7,711,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $15.39 |
Range lower limit | $5.06 |
Range upper limit | $31.05 |
$5.06 - $8.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 392,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $6.96 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '10 months 5 days |
Options Exercisable Range, Number Exercisable | 392,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $6.96 |
Range lower limit | $5.06 |
Range upper limit | $8 |
$8.01 - $12.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 2,963,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $10.10 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '2 years 4 months 22 days |
Options Exercisable Range, Number Exercisable | 2,635,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $10.03 |
Range lower limit | $8.01 |
Range upper limit | $12 |
$12.01 - $16.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 1,702,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $14.96 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '2 years 9 months 5 days |
Options Exercisable Range, Number Exercisable | 1,360,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $14.86 |
Range lower limit | $12.01 |
Range upper limit | $16 |
$16.01 - $20.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 1,555,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $18.09 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '3 years 9 months 9 days |
Options Exercisable Range, Number Exercisable | 934,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $18.06 |
Range lower limit | $16.01 |
Range upper limit | $20 |
$20.01 - $24.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 5,249,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $21.64 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '4 years 8 months 10 days |
Options Exercisable Range, Number Exercisable | 2,041,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $21.02 |
Range lower limit | $20.01 |
Range upper limit | $24 |
$24.01 - $28.00 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 1,310,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $26.96 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '5 years 2 months 20 days |
Options Exercisable Range, Number Exercisable | 247,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $26.94 |
Range lower limit | $24.01 |
Range upper limit | $28 |
$28.01 - $31.05 [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Options Outstanding Range, Number Outstanding | 1,772,000 |
Options Outstanding Range, Weighted-Average Exercise Price per Share | $28.20 |
Options Outstanding Range, Weighted-Average Remaining Contractual Life (in years) | '6 years 6 months 23 days |
Options Exercisable Range, Number Exercisable | 102,000 |
Options Exercisable Range, Weighted-Average Exercise Price per Share | $28.08 |
Range lower limit | $28.01 |
Range upper limit | $31.05 |
Employee_Stock_Benefit_Plans_S1
Employee Stock Benefit Plans (Schedule Of Options Outstanding And Expected To Vest) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 14,943 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $19.08 | ' |
Number Of Shares, Options outstanding | 14,943 | 16,966 |
Weighted-Average Exercise Price per Share, Options outstanding | $19.08 | $16.93 |
Weighted-Average Remaining Contractual Term (in years), Options outstanding | '4 years 1 month 2 days | ' |
Aggregate Intrinsic Value, Options outstanding | $231,420 | ' |
Number Of Shares, Options outstanding and expected to vest | 6,744 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price | $15.39 | ' |
Weighted-Average Exercise Price per Share, Options outstanding and expected to vest | $22.94 | ' |
Weighted-Average Remaining Contractual Term (in years), Options outstanding and expected to vest | '5 years 2 months 5 days | ' |
Aggregate Intrinsic Value, Options outstanding and expected to vest | 78,436 | ' |
Number Of Shares, Options exercisable | 7,711 | ' |
Weighted-Average Exercise Price per Share, Options exercisable | $15.39 | ' |
Weighted-Average Remaining Contractual Term (in years), Options exercisable | '3 years 14 days | ' |
Aggregate Intrinsic Value, Options exercisable | $147,920 | ' |
Employee_Stock_Benefit_Plans_S2
Employee Stock Benefit Plans (Schedule Of Stock Options Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jan. 03, 2014 |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ' |
Options, Outstanding at beginning of year | 16,966 |
Options, Granted | 1,814 |
Options, Exercised | -3,192 |
Options, Cancelled | -645 |
Options, Outstanding at end of year | 14,943 |
Options, Available for grant | 17,618 |
Weighted average exercise price, Outstanding at beginning of year | $16.93 |
Weighted average exercise price, Granted | $28.19 |
Weighted average exercise price, Exercised | $12.62 |
Weighted average exercise price, Cancelled | $19.98 |
Weighted average exercise price, Outstanding at end of year | $19.08 |
Employee_Stock_Benefit_Plans_S3
Employee Stock Benefit Plans (Schedule Of Restricted Stock Unit Activity) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jan. 03, 2014 |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ' |
Restricted Stock Units, Unvested at beginning of year | 1,544 |
Restricted Stock Units, Granted | 1,125 |
Restricted Stock Units, Vested | -601 |
Restricted Stock Units, Cancelled | -102 |
Restricted Stock Units, Unvested at end of year | 1,966 |
Weighted Average Grant-Date Fair Value, Unvested at beginning of year | $20.66 |
Weighted Average Grant-Date Fair Value, Granted | $28.17 |
Weighted Average Grant-Date Fair Value, Vested | $16.63 |
Weighted Average Grant-Date Fair Value, Cancelled | $22.95 |
Weighted Average Grant-Date Fair Value, Unvested at end of year | $26.07 |
Employee_Stock_Benefit_Plans_S4
Employee Stock Benefit Plans (Schedule Of Stock-Based Compensation Expense, Net Of Tax, Related To Employee Stock-Based Compensation (For All Plans)) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | $36,442 | $32,660 | $28,451 |
Cost Of Sales [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | 2,573 | 2,005 | 1,955 |
Research And Development [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | 5,039 | 5,319 | 4,624 |
Sales And Marketing [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | 7,329 | 7,017 | 6,672 |
General And Administrative [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | 21,501 | 18,319 | 15,200 |
Total Operating Expenses [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | $33,869 | $30,655 | $26,496 |
Employee_Stock_Benefit_Plans_S5
Employee Stock Benefit Plans (Schedule Of Weighted-Average Assumptions Used In Employee Stock Purchase Plan) (Details) (Employee Stock Purchase Plan [Member]) | 12 Months Ended | ||
Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |
Employee Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected stock price volatility | 31.50% | 37.90% | 34.00% |
Risk free interest rate | 0.12% | 0.10% | 0.16% |
Expected life of purchase, in years | '6 months | '6 months | '6 months |
Employee_Stock_Benefit_Plans_S6
Employee Stock Benefit Plans (Schedule Of Weighted-Average Assumptions Used In Stock Options Granted) (Details) (Stock Options [Member]) | 12 Months Ended | ||
Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected stock price volatility | 35.00% | 41.00% | 45.00% |
Risk free interest rate | 0.69% | 0.62% | 1.13% |
Expected life of options after vesting, in years | '3 years 10 months 12 days | '4 years 1 month 6 days | '4 years 2 months 12 days |
Statement_Of_Cash_Flow_Data_Sc
Statement Of Cash Flow Data (Schedule Of Supplemental Disclosure Of Cash Flow Information) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Supplemental Cash Flow Elements [Abstract] | ' | ' | ' |
Interest paid | $18,986 | $17,846 | $8,641 |
Income taxes paid | $42,611 | $20,202 | $13,867 |
Litigation_Litigation_Details
Litigation Litigation (Details) (USD $) | 12 Months Ended |
In Billions, unless otherwise specified | Jan. 03, 2014 |
Harbiner Plaintiffs [Member] | ' |
Loss Contingencies [Line Items] | ' |
Loss Contingency, Number of Defendants | 2 |
Loss Contingency, Damages Sought, Value | $1.90 |
LightSquared Plaintiffs [Member] | ' |
Loss Contingencies [Line Items] | ' |
Loss Contingency, Number of Plaintiffs | 2 |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (Schedule Of Selected Quarterly Financial Data) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Jan. 03, 2014 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | Dec. 28, 2012 | Sep. 28, 2012 | Jun. 29, 2012 | Mar. 30, 2012 | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 | |||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | $599,218 | $556,502 | $576,293 | $556,111 | $515,523 | $504,763 | $517,560 | $502,267 | $2,288,124 | [1] | $2,040,113 | [1] | $1,644,065 | [1] |
Gross margin | 319,454 | 295,053 | 302,401 | 286,914 | 256,463 | 262,867 | 267,696 | 259,150 | 1,203,822 | 1,046,177 | 829,581 | |||
Net income attributable to Trimble Navigation Ltd. | $59,997 | $54,469 | $54,581 | $49,808 | $33,185 | $53,364 | $53,692 | $50,818 | $218,855 | $191,060 | $150,755 | |||
Basic net income per share | $0.23 | $0.21 | $0.21 | $0.20 | $0.13 | $0.21 | $0.21 | $0.20 | $0.85 | $0.76 | $0.61 | |||
Diluted net income per share | $0.23 | $0.21 | $0.21 | $0.19 | $0.13 | $0.21 | $0.21 | $0.20 | $0.84 | $0.74 | $0.60 | |||
[1] | Revenue is attributed to countries based on the location of the customer. |
Valuation_And_Qualifying_Accou1
Valuation And Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 03, 2014 | Dec. 28, 2012 | Dec. 30, 2011 |
Valuation and Qualifying Accounts [Abstract] | ' | ' | ' |
Balance at beginning of period | $6,318 | $6,689 | $3,442 |
Acquired allowance | 1,156 | 1,714 | 3,678 |
Bad debt expense | 1,902 | 2,030 | 1,913 |
Write-offs, net of recoveries | -3,059 | -4,115 | -2,344 |
Balance at end of period | $6,317 | $6,318 | $6,689 |