Littelfuse (LFUS) 10-Q 30 Oct 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 26, 2015	Oct. 23, 2015
Entity Registrant Name	LITTELFUSE INC /DE
Entity Central Index Key	889,331
Trading Symbol	lfus
Current Fiscal Year End Date	--12-26
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		22,299,062
Document Type	10-Q
Document Period End Date	Sep. 26, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014
Current assets:
Cash and cash equivalents	$ 336,640	$ 297,571
Short-term investments	3,958	4,302
Accounts receivable, less allowances	145,655	135,356
Inventories	99,203	97,391
Deferred income taxes	14,139	17,481
Prepaid expenses and other current assets	$ 14,179	13,904
Assets held for sale		5,500
Total current assets	$ 613,774	571,505
Property, plant and equipment:
Land	5,292	5,697
Buildings	69,420	64,609
Equipment	378,716	370,179
	453,428	440,485
Accumulated depreciation	(290,663)	(281,845)
Net property, plant and equipment	162,765	158,640
Intangible assets, net of amortization:
Patents, licenses and software	20,180	23,640
Distribution network	17,175	19,428
Customer lists, trademarks and tradenames	55,366	60,605
Goodwill	190,016	196,256
Other investments	11,196	12,056
Deferred income taxes	5,189	5,393
Other assets	16,216	23,303
Total assets	1,091,877	1,070,826
Liabilities and Equity
Accounts payable	53,308	50,793
Accrued payroll	31,281	30,511
Accrued expenses	20,641	13,059
Accrued severance	2,619	790
Accrued income taxes	$ 6,738	9,045
Current portion of accrued post-retirement benefits		11,768
Current portion of long-term debt	$ 117,500	88,500
Total current liabilities	232,087	204,466
Long-term debt, less current portion	91,517	106,658
Deferred income taxes	18,565	11,076
Accrued post-retirement benefits	5,025	5,147
Other long-term liabilities	10,943	15,814
Total equity	733,740	727,665
Total liabilities and equity	$ 1,091,877	$ 1,070,826

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares	Sep. 26, 2015	Dec. 27, 2014
Common shares issued (in shares)	22,379,901	22,585,529
Common shares oustanding (in shares)	22,379,901	22,585,529

Consolidated Statements of Net

Consolidated Statements of Net Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Net sales	[1]	$ 215,510	$ 217,608	$ 647,844	$ 645,375
Cost of sales		129,328	130,228	400,051	396,506
Gross profit		86,182	87,380	247,793	248,869
Selling, general and administrative expenses		37,002	36,647	112,119	109,146
Research and development expenses		7,479	$ 7,449	22,224	$ 22,833
Pension settlement expense		30,194		30,194
Amortization of intangibles		2,923	$ 3,154	8,952	$ 9,451
		77,598	47,250	173,490	141,430
Operating income		8,584	40,130	74,303	107,439
Interest expense		922	1,292	3,021	3,736
Foreign exchange (gain) loss		(3,549)	(101)	(1,724)	2,022
Other (income) expense, net		(1,430)	(2,261)	(3,758)	(4,893)
Income before income taxes		12,641	41,200	76,764	106,574
Income taxes		1,317	11,260	16,761	26,667
Net income		$ 11,324	$ 29,940	$ 60,003	$ 79,907
Net income per share (see Note 7):
Basic (in dollars per share)		$ 0.50	$ 1.33	$ 2.65	$ 3.55
Diluted (in dollars per share)		$ 0.50	$ 1.32	$ 2.64	$ 3.52
Weighted average shares and equivalent shares outstanding:
Basic (in shares)		22,581	22,536	22,623	22,536
Diluted (in shares)		22,693	22,689	22,771	22,722
Cash dividends paid per common share (in dollars per share)		$ 0.29	$ 0.25	$ 0.79	$ 0.69
[1]	Sales by country represent sale to customer or distributor locations.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015		Sep. 27, 2014
Net income	$ 11,324	$ 29,940	$ 60,003		$ 79,907
Other comprehensive income (loss):
Pension liability adjustments (net of tax of $7 and $39, for the three months ended 2015 and 2014, and $49 and $178 for the nine months ended 2015 and 2014, respectively)	(16)	(63)	(140)	[1]	(243)
Reclassification adjustments to expense, (net of tax of $1,244 and $0, for the three months ended 2015 and 2014, and $746 and $0 for the nine months ended 2015 and 2014, respectively)	(514)	$ 67	1,457	[1]	$ 242
Reclassification of pension settlement costs to expense (net of tax of $11,742 for the three and nine months ended 2015)	21,124		21,124	[1]
Unrealized (loss) gain on investments	(3,354)	$ (1,773)	(18)		$ 1,811
Foreign currency translation adjustments	(26,377)	(14,962)	(36,530)		(15,273)
Comprehensive income	$ 2,187	$ 13,209	$ 45,896		$ 66,444
[1]	Balances are net of tax of $3,115 and $12,587 for 2015 and 2014, respectively.

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Pension liability adjustments, tax	$ 7,000	$ 49,000	$ 39,000	$ 178,000
Reclassification adjustment, tax	1,244	$ 0	746	$ 0
Pension settlement adjustment, tax	$ 11,742		$ 11,742

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Operating activities:
Net income	$ 60,003	$ 79,907
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	22,154	21,736
Amortization of intangibles	8,952	9,451
Stock-based compensation	$ 7,997	7,168
Non-cash inventory charge		2,769
Excess tax benefit on share-based compensation	$ (1,500)	$ (2,477)
Net loss on pension settlement, net of tax	19,472
Loss on sale of assets	308	$ 673
Changes in operating assets and liabilities:
Accounts receivable	(18,274)	(9,728)
Inventories	(4,203)	(4,118)
Accounts payable	4,216	3,024
Accrued expenses (including post-retirement)	6,577	(7,080)
Accrued payroll and severance	3,598	(1,198)
Accrued taxes	4,006	5,756
Prepaid expenses and other	277	(2,052)
Net cash provided by operating activities	$ 113,583	103,831
Investing activities:
Acquisition of business, net of cash acquired		(52,768)
Purchases of property, plant, and equipment	$ (35,016)	$ (19,422)
Decrease in entrusted loan receivable	$ 5,930
Proceeds from maturities of short-term investments		$ 6,770
Proceeds from sale of assets	$ 38	72
Net cash used in investing activities	(29,048)	(65,348)
Financing activities:
Proceeds from revolving credit facility	49,000	97,500
Payments of revolving credit facility	(25,000)	(37,000)
Payments of term loan	(3,750)	$ (3,750)
Payments of entrusted loan	(5,930)
Debt issuance costs	(42)	$ (108)
Cash dividends paid	(17,864)	(15,543)
Purchases of common stock	(31,252)	(14,283)
Proceeds from exercise of stock options	6,186	12,170
Excess tax benefit on share-based compensation	1,500	2,477
Net cash (used in) provided by financing activities	(27,152)	41,463
Effect of exchange rate changes on cash and cash equivalents	(18,314)	(6,862)
Increase in cash and cash equivalents	39,069	73,084
Cash and cash equivalents at beginning of period	297,571	305,192
Cash and cash equivalents at end of period	$ 336,640	$ 378,276

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Basis of Accounting [Text Block]	1. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Littelfuse, Inc. and its subsidiaries (the “company”) have been prepared in accordance with U.S. Generally Accepted Accounting Principles

Note 2 - Acquisition of Busines

Note 2 - Acquisition of Business	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	2 . Acquisition of Business SymCom, Inc. On January 3, 2014, the company acquired 100% of SymCom, Inc. (“SymCom”) for $52.8 million net of cash acquired. Located in Rapid City, South Dakota, SymCom provides overload relays and pump controllers primarily to the industrial market. The acquisition allows the company to strengthen its position in the relay products market by adding new products and new customers within its Electrical business unit segment. The company funded the acquisition with available cash and proceeds from credit facilities . The following table sets forth the final purchase price allocation for SymCom acquisition-date net assets, in accordance with the purchase method of accounting with adjustments to record the acquired net assets at their estimated fair values. SymCom final purchase price allocation (in thousands): Cash $ 325 Current assets, net 9,154 Property, plant and equipment 11,193 Goodwill 15,018 Trademarks 17,020 Patents 1,500 Other non-current assets 20 Current liabilities (1,137 ) $ 53,093 All SymCom goodwill and other assets and liabilities were recorded in the Electrical business unit segment and reflected in the Americas geographical area. The trademarks are being amortized over 15 to 20 years. The patents are being amortized over 16 to 17 years. The goodwill resulting from this acquisition consists largely of the company’s expected future product sales and synergies from combining SymCom’s products with the company’s existing electrical product offerings. Goodwill for the above acquisition is expected to be deductible for tax purposes. As required by purchase accounting rules, the company recorded a $2.8 million step-up of inventory to its fair value as of the acquisition date based on the preliminary valuation. During the first six months of 2014, as a portion of this inventory was sold, cost of goods sold included a $2.8 million non-cash charge for this step-up. Pro forma financial information is not presented for the SymCom acquisition due to amounts not being materially different than actual results.

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories The components of inventories at September 26, 2015 and December 27, 2014 are as follows (in thousands): September 26, 2015 December 27, 2014 Raw material $ 34,235 $ 29,756 Work in process 16,443 15,164 Finished goods 48,525 52,471 Total inventories $ 99,203 $ 97,391

Note 4 - Other Investments

Note 4 - Other Investments	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Cost and Equity Method Investments Disclosure [Text Block]	4 . Other Investments The company’s other investments represent shares of Polytronics Technology Corporation Ltd. (“Polytronics”), a Taiwanese company. The Polytronics investment was acquired as part of the Heinrich Companies acquisition in 2004. The fair value of the Polytronics investment was €10.0 million (approximately $11.2 million) at September 26, 2015 and €9.9 million (approximately $12.1 million) at December 27, 2014. Included in 2015 other comprehensive income is an unrealized loss of less than $ 0.1 million, due to the decrease in fair market value of the Polytronics investment. The remaining movement was due to the impact of changes in exchange rates.

Note 5 - Debt

Note 5 - Debt	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	5. Debt The carrying amounts of debt at September 26, 2015 and December 27, 2014 are as follows (in thousands): September 26, 2015 December 27, 2014 Term loan $ 90,000 $ 93,750 Revolving credit facility 107,500 83,500 Entrusted loan 11,517 17,908 Total debt 209,017 195,158 Less: Current maturities 117,500 88,500 Total long-term debt $ 91,517 $ 106,658 The company currently has a credit agreement with J.P Morgan Securities LLC for up to $375.0 million which consists of an unsecured revolving credit facility of $275.0 million and an unsecured term loan of $100.0 million. The credit agreement, effective May 31, 2013, is for a five year period. The company incurred debt issuance costs of $0.1 million which will be amortized over the life of the existing credit agreement. As of September 26, 2015, the company had available $167.4 million of borrowing capacity under the revolving credit agreement at an interest rate of LIBOR plus 1.0% (1.19% as of September 26, 2015). At September 26, 2015, the company was in compliance with all covenants under the revolving credit facility. Entrusted Loan During the fourth quarter of 2014, the company entered into an entrusted loan arrangement (“Entrusted Loan”) of RMB 110.0 million (approximately $17.9 million) between two of its China legal entities, Littelfuse Semiconductor (Wuxi) Company (the “ Lender Borrower

Note 6 - Fair Value of Assets a

Note 6 - Fair Value of Assets and Liabilities	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	6 . Fair Value of Assets and Liabilities In determining fair value, the company uses various valuation approaches within the fair value measurement framework. Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. Applicable accounting literature establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Applicable accounting literature defines levels within the hierarchy based on the reliability of inputs as follows: Level 1—Valuations based on unadjusted quoted prices for identical assets or liabilities in active markets; Level 2—Valuations based on quoted prices for similar assets or liabilities or identical assets or liabilities in less active markets, such as dealer or broker markets; and Level 3—Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable, such as pricing models, discounted cash flow models and similar techniques not based on market, exchange, dealer or broker-traded transactions. Following is a description of the valuation methodologies used for instruments measured at fair value and their classification in the valuation hierarchy. Investment in Polytronics The company holds an investment in the equity securities of Polytronics as described in Note 4. Equity securities listed on a national market or exchange are valued at the last sales price. Such securities are classified within Level 1 of the valuation hierarchy. There were no changes during the nine months ended September 26, 2015 to the company’s valuation techniques used to measure asset and liability fair values on a recurring basis. As of September 26, 2015 and December 27, 2014 the company held no non-financial assets or liabilities that are required to be measured at fair value on a recurring basis. The following table presents assets measured at fair value by classification within the fair value hierarchy as of September 26, 2015 (in thousands): Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 11,196 $ — $ — $ 11,196 Total $ 11,196 $ — $ — $ 11,196 7 N otes to CONDENSED Consolidated Financial Statements (Unaudited) 6 . Fair Value of Assets and Liabilities , continued The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 27, 2014 (in thousands): Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 12,056 $ — $ — $ 12,056 Total $ 12,056 $ — $ — $ 12,056 The company’s other financial instruments include cash and cash equivalents, short-term investments, accounts receivable, accounts payable and debt. The carrying amounts of cash and cash equivalents , short-term investments, accounts receivable and accounts payable approximate their fair values. The company’s debt fair value approximates book value at September 26, 2015 and December 27, 2014, respectively, as the variable interest rates fluctuate along with market interest rates.

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	7 . Earnings per Share The following table sets forth the computation of basic and diluted earnings per share for the periods ended September 26, 2015 and September 27, 2014 (in thousands except per share amounts). For the Three Months Ended For the Nine Months Ended September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 Net income $ 11,324 $ 29,940 $ 60,003 $ 79,907 Average shares outstanding - Basic 22,581 22,536 22,623 22,536 Net effect of dilutive stock options and restricted share units 112 153 148 186 Average shares - Diluted 22,693 22,689 22,771 22,722 Net income per share: Basic $ .50 $ 1.33 $ 2.65 $ 3.55 Diluted $ .50 $ 1.32 $ 2.64 $ 3.52 Potential shares of common stock relating to stock options excluded from the earnings per share calculation because their effect would be anti-dilutive were 144,031 and 64,520 for the three months ended September 26, 2015 and September 27, 2014, respectively, and 108,193 and 36,698 for the nine months ended September 26 , 2015 and September 27 , 2014 , respectively.

Note 8 - Income Taxes

Note 8 - Income Taxes	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8 . Income Taxes The effective tax rate for the third quarter of 2015 was 10.4% compared to an effective tax rate of 27.3% in the third quarter of 2014 . The effective tax rate for the nine months ended September 26, 2015 was 21.8% as compared to an effective tax rate of 25.0% for the nine months ended September 27, 2014. The effective tax rates for both the third 8 Notes to CONDENSED Consolidated Financial Statements (Unaudited) 8. Income taxes, continued quarter and nine month periods of 2015 and 2014 are lower than the U.S. statutory tax rate primarily due to the result of income earned in lower tax jurisdictions and, with respect to the 2015 periods, the impact of the pension settlement partially offset by the impact from the restructuring of the legal ownership of the company’s Mexican manufacturing operations as of June 28, 2015. The following tables set forth the components of pre-tax income/(expense) and the effective tax rates for the three and nine months ended September 26, 2015 (in thousands). For the Three Months ended September 26, 2015 Pre-tax income/(expense) category Pre-tax income/(expense) amount Income tax (expense)/benefit Effective tax rate Pension settlement $ (30,194 ) $ 10,722 35.5 % Legal restructuring tax impact — (1,949 ) — All other income/(expense) 42,835 (10,090 ) 23.6 % Total consolidated $ 12,641 $ (1,317 ) 10.4 % For the Nine Months ended September 26, 2015 Pre-tax income/(expense) category Pre-tax income/(expense) amount Income tax (expense)/benefit Effective tax rate Pension settlement $ (30,194 ) $ 10,722 35.5 % Legal restructuring tax impact — (1,949 ) — All other income/(expense) 106,958 (25,534 ) 23.9 % Total consolidated $ 76,764 $ (16,761 ) 21.8 %

Note 9 - Pensions

Note 9 - Pensions	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	9. Pensions The components of net periodic benefit cost for the three and nine months ended September 26, 2015, compared with the three and nine months ended September 27, 2014, were (in thousands): U.S. Pension Benefits Foreign Plans Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 Service cost $ 250 $ 150 $ 750 $ 450 $ 314 $ 311 $ 944 $ 933 Interest cost 1,032 971 3,094 2,913 512 591 1,538 1,774 Expected return on plan assets (917 ) (1,412 ) (2,749 ) (4,234 ) (599 ) (572 ) (1,800 ) (1,718 ) Amortization of net loss 290 137 870 411 62 47 185 142 Total cost (credit) of the plan 655 (154 ) 1,965 (460 ) 289 377 867 1,131 Expected plan participants’ contribution - - - - - - - - Net periodic benefit cost (credit) 655 (154 ) 1,965 (460 ) 289 377 867 1,131 Settlement charge 30,194 - 30,194 - - - - - Total pension cost (credit) $ 30,849 $ (154 ) $ 32,159 $ (460 ) $ 289 $ 377 $ 867 $ 1,131 The expected rate of return assumption on domestic pension assets is 3.90% and 6.75% in 2015 and 2014, respectively. The expected return on foreign pension assets is 5.39% and 5.14% in 2015 and 2014, respectively. 9 Notes to CONDENSED Consolidated Financial Statements (Unaudited) 9. Pensions, continued U.S. Defined Benefit Pension Plan Termination The company received approval from the IRS on April 14, 2015 on its Application for Determination for Terminating Plan to terminate the U.S. defined benefit pension plan, the Littelfuse Inc. Retirement Plan, effective July 30, 2014. All plan liabilities were settled (either via lump sum payout or purchase of a group annuity contract) in the third quarter of 2015. A cash contribution of $9.1 million was made by the company to the U.S. defined benefit pension plan’s trust in the third quarter of 2015 to fully fund the plan on a buyout basis. The settlement of the plan’s liabilities resulted in a pre-tax settlement charge of $30.2 million in the third quarter of 2015.

Note 10 - Business Unit Segment

Note 10 - Business Unit Segment Information	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10 . Business Unit Segment Information The company and its subsidiaries design, manufacture and sell circuit protection devices throughout the world. The company reports its operations by the following business unit segments: Electronics, Automotive, and Electrical. Each operating segment is directly responsible for sales, marketing and research and development. Manufacturing, purchasing, logistics, customer service, finance, information technology and human resources are shared functions that are allocated back to the three operating segments. The CEO allocates resources to and assesses the performance of each operating segment using information about its revenue and operating income (loss) before interest and taxes, but does not evaluate the operating segments using discrete balance sheet information. Sales, marketing and research and development expenses are charged directly into each operating segment. All other functions are shared by the operating segments and expenses for these shared functions are allocated to the operating segments and included in the operating results reported below. The company does not report inter-segment revenue because the operating segments do not record it. The company does not allocate interest and other income, interest expense, or taxes to operating segments. Although the CEO uses operating income (loss) to evaluate the segments, operating costs included in one segment may benefit other segments. Except as discussed above, the accounting policies for segment reporting are the same as for the company as a whole. An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, and about which separate financial information is regularly evaluated by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources. The CODM is the company’s President and Chief Executive Officer (“CEO”). 10 Notes to CONDENSED Consolidated Financial Statements (Unaudited) 10 . Business Unit Segment Information , continued Business unit segment information for the three and nine months ended September 26, 2014 and September 27, 2014 are summarized as follows (in thousands): For the Three Months Ended For the Nine Months Ended September 26 2015 September 27, 2014 September 26, 2015 September 27, 2014 Net sales Electronics $ 102,616 $ 107,754 $ 307,549 $ 313,726 Automotive 81,475 80,639 251,464 245,083 Electrical 31,419 29,215 88,831 86,566 Total net sales $ 215,510 $ 217,608 $ 647,844 $ 645,375 Depreciation and amortization Electronics $ 5,811 $ 5,582 $ 17,384 $ 16,482 Automotive 3,244 3,435 9,883 10,609 Electrical 1,260 1,414 3,839 4,096 Total depreciation and amortization $ 10,315 $ 10,431 $ 31,106 $ 31,187 Operating income (loss) Electronics $ 20,923 $ 25,800 $ 61,755 $ 70,805 Automotive 15,253 12,227 39,123 35,158 Electrical 5,781 3,224 13,220 7,541 Other (1) (33,373 ) (1,121 ) (39,795 ) (6,065 ) Total operating income 8,584 40,130 74,303 107,439 Interest expense 922 1,292 3,021 3,736 Foreign exchange (gain) loss (3,549 ) (101 ) (1,724 ) 2,022 Other (income) expense, net (1,430 ) (2,261 ) (3,758 ) (4,893 ) Income before income taxes $ 12,641 $ 41,200 $ 76,764 $ 106,574 (1) For the three months ended September 26, 2015, “Other” consists of restructuring costs ($2.1 million), acquisition expenses ($0.3 million), pension settlement and wind-up costs ($30.9 million), and other ($0.1 million). For the nine months ended September 26, 2015, “Other” consist of restructuring costs ($6.8 million), acquisition expenses ($0.7 million), pension settlement and wind-up costs ($32.2 million) and other ($0.1 million). The company’s significant net sales by country for the three and nine months ended September 26, 2015 and September 27, 2014 are summarized as follows (in thousands): For the Three Months Ended (a) For the Nine Months Ended (a) September 26, 2015 September 27, 2014 September 26 2015 September 27, 2014 United States $ 85,049 $ 85,326 $ 258,030 $ 243,979 China 49,345 45,905 143,694 134,166 Other countries 81,116 86,377 246,120 267,230 Total $ 215,510 $ 217,608 $ 647,844 $ 645,375 (a) Sales by country represent sales to customer or distributor locations. 11 Notes to CONDENSED Consolidated Financial Statements (Unaudited) 10 . Business Unit Segment Information, continued The company’s significant long-lived assets and additions to long-lived assets by country as of September 26, 2015 and December 27, 2014 are summarized as follows (in thousands): Long-lived assets (b) September 26, 2015 December 27, 2014 United States $ 27,250 $ 34,179 Mexico 13,613 47,936 China 37,900 40,981 Other countries 84,002 35,544 Total $ 162,765 $ 158,640 (b) Long-lived assets consists of net property, plant and equipment . The company’s additions to long-lived assets for the nine months ended September 26, 2015 and September 27, 2014 are summarized as follows (in thousands): Additions to long-lived assets September 26, 2015 September 27, 2014 United States $ 8,367 $ 5,215 Mexico 6,518 5,784 China 5,159 3,461 Other countries 15,082 4,962 Total $ 35,126 $ 19,422

Note 11 - Accumulated Other Com

Note 11 - Accumulated Other Comprehensive Income (Loss) (AOCI)	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	11. Accumulated Other Comprehensive Income (Loss) (AOCI) The following table sets forth the changes in the components of AOCI by component (in thousands): AOCI component Balance at December 27, 2014 Other comprehensive income (loss) activity Reclassification adjustment for expense included in net income Reclassification adjustment for pension settlement expense included in net income Balance at September 27, 2015 Pension liability adjustment (a) $ (29,615 ) $ (140 ) $ 1,457 $ 21,124 $ (7,174 ) Unrealized gain (loss) on investments (b) 10,791 (18 ) — — 10,773 Foreign currency translation adjustment (2,302 ) (36,530 ) — — (38,832 ) AOCI (loss) income $ (21,126 ) $ (36,688 ) $ 1,457 $ 21,124 $ (35,233 ) (a) Balances are net of tax of $3,115 and $12,587 for 2015 and 2014, respectively. (b) Balances are net of tax of $0 and $0 for 2015 and 2014, respectively.

Note 12 - Subsequent Event

Note 12 - Subsequent Event	9 Months Ended
	Sep. 26, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	12. Subsequent Event On October 1, 2015, the company acquired Sigmar S.r.1. (“Sigmar”), an Italian company that produces sensors used in gas and diesel engine fuel systems, as well as urea level and quality sensors used in diesel emission reduction systems. Sigmar has annual revenues of approximately $6 million and will be reported in the Automotive business segment.

Note 2 - Acquisition of Busin20

Note 2 - Acquisition of Business (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash $ 325 Current assets, net 9,154 Property, plant and equipment 11,193 Goodwill 15,018 Trademarks 17,020 Patents 1,500 Other non-current assets 20 Current liabilities (1,137 ) $ 53,093

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 26, 2015 December 27, 2014 Raw material $ 34,235 $ 29,756 Work in process 16,443 15,164 Finished goods 48,525 52,471 Total inventories $ 99,203 $ 97,391

Note 5 - Debt (Tables)

Note 5 - Debt (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	September 26, 2015 December 27, 2014 Term loan $ 90,000 $ 93,750 Revolving credit facility 107,500 83,500 Entrusted loan 11,517 17,908 Total debt 209,017 195,158 Less: Current maturities 117,500 88,500 Total long-term debt $ 91,517 $ 106,658

Note 6 - Fair Value of Assets23

Note 6 - Fair Value of Assets and Liabilities (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 11,196 $ — $ — $ 11,196 Total $ 11,196 $ — $ — $ 11,196 Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 12,056 $ — $ — $ 12,056 Total $ 12,056 $ — $ — $ 12,056

Note 7 - Earnings Per Share (Ta

Note 7 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Nine Months Ended September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 Net income $ 11,324 $ 29,940 $ 60,003 $ 79,907 Average shares outstanding - Basic 22,581 22,536 22,623 22,536 Net effect of dilutive stock options and restricted share units 112 153 148 186 Average shares - Diluted 22,693 22,689 22,771 22,722 Net income per share: Basic $ .50 $ 1.33 $ 2.65 $ 3.55 Diluted $ .50 $ 1.32 $ 2.64 $ 3.52

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	For the Three Months ended September 26, 2015 Pre-tax income/(expense) category Pre-tax income/(expense) amount Income tax (expense)/benefit Effective tax rate Pension settlement $ (30,194 ) $ 10,722 35.5 % Legal restructuring tax impact — (1,949 ) — All other income/(expense) 42,835 (10,090 ) 23.6 % Total consolidated $ 12,641 $ (1,317 ) 10.4 % For the Nine Months ended September 26, 2015 Pre-tax income/(expense) category Pre-tax income/(expense) amount Income tax (expense)/benefit Effective tax rate Pension settlement $ (30,194 ) $ 10,722 35.5 % Legal restructuring tax impact — (1,949 ) — All other income/(expense) 106,958 (25,534 ) 23.9 % Total consolidated $ 76,764 $ (16,761 ) 21.8 %

Note 9 - Pensions (Tables)

Note 9 - Pensions (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	U.S. Pension Benefits Foreign Plans Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 September 26, 2015 September 27, 2014 Service cost $ 250 $ 150 $ 750 $ 450 $ 314 $ 311 $ 944 $ 933 Interest cost 1,032 971 3,094 2,913 512 591 1,538 1,774 Expected return on plan assets (917 ) (1,412 ) (2,749 ) (4,234 ) (599 ) (572 ) (1,800 ) (1,718 ) Amortization of net loss 290 137 870 411 62 47 185 142 Total cost (credit) of the plan 655 (154 ) 1,965 (460 ) 289 377 867 1,131 Expected plan participants’ contribution - - - - - - - - Net periodic benefit cost (credit) 655 (154 ) 1,965 (460 ) 289 377 867 1,131 Settlement charge 30,194 - 30,194 - - - - - Total pension cost (credit) $ 30,849 $ (154 ) $ 32,159 $ (460 ) $ 289 $ 377 $ 867 $ 1,131

Note 10 - Business Unit Segme27

Note 10 - Business Unit Segment Information (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended For the Nine Months Ended September 26 2015 September 27, 2014 September 26, 2015 September 27, 2014 Net sales Electronics $ 102,616 $ 107,754 $ 307,549 $ 313,726 Automotive 81,475 80,639 251,464 245,083 Electrical 31,419 29,215 88,831 86,566 Total net sales $ 215,510 $ 217,608 $ 647,844 $ 645,375 Depreciation and amortization Electronics $ 5,811 $ 5,582 $ 17,384 $ 16,482 Automotive 3,244 3,435 9,883 10,609 Electrical 1,260 1,414 3,839 4,096 Total depreciation and amortization $ 10,315 $ 10,431 $ 31,106 $ 31,187 Operating income (loss) Electronics $ 20,923 $ 25,800 $ 61,755 $ 70,805 Automotive 15,253 12,227 39,123 35,158 Electrical 5,781 3,224 13,220 7,541 Other (1) (33,373 ) (1,121 ) (39,795 ) (6,065 ) Total operating income 8,584 40,130 74,303 107,439 Interest expense 922 1,292 3,021 3,736 Foreign exchange (gain) loss (3,549 ) (101 ) (1,724 ) 2,022 Other (income) expense, net (1,430 ) (2,261 ) (3,758 ) (4,893 ) Income before income taxes $ 12,641 $ 41,200 $ 76,764 $ 106,574
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	For the Three Months Ended (a) For the Nine Months Ended (a) September 26, 2015 September 27, 2014 September 26 2015 September 27, 2014 United States $ 85,049 $ 85,326 $ 258,030 $ 243,979 China 49,345 45,905 143,694 134,166 Other countries 81,116 86,377 246,120 267,230 Total $ 215,510 $ 217,608 $ 647,844 $ 645,375
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	Long-lived assets (b) September 26, 2015 December 27, 2014 United States $ 27,250 $ 34,179 Mexico 13,613 47,936 China 37,900 40,981 Other countries 84,002 35,544 Total $ 162,765 $ 158,640 Additions to long-lived assets September 26, 2015 September 27, 2014 United States $ 8,367 $ 5,215 Mexico 6,518 5,784 China 5,159 3,461 Other countries 15,082 4,962 Total $ 35,126 $ 19,422

Note 11 - Accumulated Other C28

Note 11 - Accumulated Other Comprehensive Income (Loss) (AOCI) (Tables)	9 Months Ended
	Sep. 26, 2015
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	AOCI component Balance at December 27, 2014 Other comprehensive income (loss) activity Reclassification adjustment for expense included in net income Reclassification adjustment for pension settlement expense included in net income Balance at September 27, 2015 Pension liability adjustment (a) $ (29,615 ) $ (140 ) $ 1,457 $ 21,124 $ (7,174 ) Unrealized gain (loss) on investments (b) 10,791 (18 ) — — 10,773 Foreign currency translation adjustment (2,302 ) (36,530 ) — — (38,832 ) AOCI (loss) income $ (21,126 ) $ (36,688 ) $ 1,457 $ 21,124 $ (35,233 )

Note 2 - Acquisition of Busin29

Note 2 - Acquisition of Business (Details Textual) - USD ($) $ in Thousands	Jan. 03, 2014	Jun. 28, 2014	Sep. 26, 2015	Sep. 27, 2014
Sym Com Inc [Member] | Trademarks [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	15 years
Sym Com Inc [Member] | Trademarks [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	20 years
Sym Com Inc [Member] | Patents [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	16 years
Sym Com Inc [Member] | Patents [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	17 years
Sym Com Inc [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Payments to Acquire Businesses, Net of Cash Acquired	$ 52,800
Business Acquisition Inventory Stepup	$ 2,800
Noncash Charges Related To Inventory Stepup		$ 2,800
Payments to Acquire Businesses, Net of Cash Acquired				$ 52,768

Note 2 - Acquisition of Busin30

Note 2 - Acquisition of Business - Final Purchase Price Allocation (Details) $ in Thousands	Jan. 03, 2014USD ($)
Sym Com Inc [Member] | Trademarks [Member]
Intangible assets other than goodwill	$ 17,020
Sym Com Inc [Member] | Patents [Member]
Intangible assets other than goodwill	1,500
Sym Com Inc [Member]
Cash	325
Current assets, net	9,154
Property, plant and equipment	11,193
Goodwill	15,018
Other non-current assets	20
Current liabilities	(1,137)
	$ 53,093

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014
Raw material	$ 34,235	$ 29,756
Work in process	16,443	15,164
Finished goods	48,525	52,471
Total inventories	$ 99,203	$ 97,391

Note 4 - Other Investments (Det

Note 4 - Other Investments (Details Textual) € in Millions, $ in Millions	9 Months Ended
	Sep. 26, 2015USD ($)	Sep. 26, 2015EUR (€)	Sep. 26, 2015USD ($)	Dec. 27, 2014EUR (€)	Dec. 27, 2014USD ($)
Marketable Securities, Equity Securities		€ 10	$ 11.2	€ 9.9	$ 12.1
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax	$ 0.1

Note 5 - Debt (Details Textual)

Note 5 - Debt (Details Textual) $ in Thousands, ¥ in Millions	9 Months Ended
	Sep. 26, 2015USD ($)	Dec. 27, 2014USD ($)	Dec. 27, 2014CNY (¥)
JP Morgan Securities LLC [Member] | Unsecured Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
JP Morgan Securities LLC [Member] | Unsecured Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 275,000
Line of Credit Facility, Interest Rate at Period End	1.19%
JP Morgan Securities LLC [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 375,000
Loans Payable to Bank	$ 100,000
Line of Credit Facility, Expiration Period	5 years
Debt Issuance Cost	$ 100
Line of Credit Facility, Remaining Borrowing Capacity	167,400
Entrustment Loan Member
Debt Instrument, Interest Rate, Stated Percentage		5.25%	5.25%
Loans Payable to Bank	90,000	$ 93,750
Entrusted Loan	$ 11,517	$ 17,908	¥ 110

Note 5 - Debt - Carrying Amount

Note 5 - Debt - Carrying Amounts of Long-term Debt (Details) $ in Thousands, ¥ in Millions	Sep. 26, 2015USD ($)	Dec. 27, 2014USD ($)
Term loan	$ 90,000	$ 93,750
Revolving credit facility	107,500	83,500
Entrusted loan	11,517	17,908
Total debt	209,017	195,158
Less: Current maturities	117,500	88,500
Total long-term debt	$ 91,517	$ 106,658

Note 6 - Fair Value of Assets35

Note 6 - Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Dec. 27, 2014
Fair Value, Inputs, Level 1 [Member]
Investment in Polytronics	$ 11,196	$ 12,056
Total	11,196	12,056
Investment in Polytronics	11,196	12,056
Total	$ 11,196	$ 12,056

Note 7 - Earnings Per Share (De

Note 7 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	144,031	64,520	108,193	36,698

Note 7 - Earnings Per Share - C

Note 7 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Net income	$ 11,324	$ 29,940	$ 60,003	$ 79,907
Basic (in shares)	22,581	22,536	22,623	22,536
Net effect of dilutive stock options and restricted share units (in shares)	112	153	148	186
Average shares - Diluted (in shares)	22,693	22,689	22,771	22,722
Net income per share (see Note 7):
Basic (in dollars per share)	$ 0.50	$ 1.33	$ 2.65	$ 3.55
Diluted (in dollars per share)	$ 0.50	$ 1.32	$ 2.64	$ 3.52

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Effective Income Tax Rate Reconciliation, Percent	10.40%	27.30%	21.80%	25.00%

Note 8 - Income Taxes - Compone

Note 8 - Income Taxes - Components of Income/(Expense) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 26, 2015	Sep. 26, 2015
Pension Settlement [Member]
Income tax (expense)/benefit	$ 10,722	$ 10,722
Effective Income Tax Rate Reconciliation, Percent	35.50%	35.50%
Legal Restructuring Tax Impact [Member]
Income tax (expense)/benefit	$ (1,949)	$ (1,949)
Effective Income Tax Rate Reconciliation, Percent
All Other Income/(Expense) [Member]
Income tax (expense)/benefit	$ (10,090)	$ (25,534)
Effective Income Tax Rate Reconciliation, Percent	23.60%	23.90%
Pension settlement	$ (30,194)	$ (30,194)
Income tax (expense)/benefit	$ (1,317)	$ (16,761)
Effective Income Tax Rate Reconciliation, Percent	10.40%	21.80%
All other income/(expense)	$ 42,835	$ 106,958
Total consolidated	$ 12,641	$ 76,764

Note 9 - Pensions (Details Text

Note 9 - Pensions (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
United States Pension Plan of US Entity [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets			3.90%	6.75%
Pension Contributions	$ 9,100
Define Benefit Plan, Pre-tax Settlement Charge	$ 30,194		$ 30,194
Foreign Pension Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets			5.39%	5.14%
Define Benefit Plan, Pre-tax Settlement Charge
Define Benefit Plan, Pre-tax Settlement Charge	$ 30,194		$ 30,194

Note 9 - Pensions - Components

Note 9 - Pensions - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
United States Pension Plan of US Entity [Member]
Service cost	$ 250	$ 150	$ 750	$ 450
Interest cost	1,032	971	3,094	2,913
Expected return on plan assets	(917)	(1,412)	(2,749)	(4,234)
Amortization of net loss	290	137	870	411
Total cost (credit) of the plan	655	(154)	1,965	(460)
Net periodic benefit cost (credit)	655	$ (154)	1,965	$ (460)
Settlement charge	30,194		30,194
Total pension cost (credit)	30,849	$ (154)	32,159	$ (460)
Foreign Pension Plan [Member]
Service cost	314	311	944	933
Interest cost	512	591	1,538	1,774
Expected return on plan assets	(599)	(572)	(1,800)	(1,718)
Amortization of net loss	62	47	185	142
Total cost (credit) of the plan	289	377	867	1,131
Net periodic benefit cost (credit)	$ 289	$ 377	$ 867	$ 1,131
Settlement charge
Total pension cost (credit)	$ 289	$ 377	$ 867	$ 1,131
Settlement charge	$ 30,194		$ 30,194

Note 10 - Business Unit Segme42

Note 10 - Business Unit Segment Information (Details Textual) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 27, 2015USD ($)	Sep. 27, 2015USD ($)
Number of Operating Segments		3
Severance Costs	$ 2.1	$ 6.8
Business Combination, Acquisition Related Costs	0.3	0.7
Pension Expense	30.9	32.2
Other Cost and Expense, Operating	$ 0.1	$ 0.1

Note 10 - Business Unit Segme43

Note 10 - Business Unit Segment Information - Business Unit Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Electronics [Member]
Net Sales		$ 102,616	$ 107,754	$ 307,549	$ 313,726
Depreciation and amortization		5,811	5,582	17,384	16,482
Operating income		20,923	25,800	61,755	70,805
Automotive [Member]
Net Sales		81,475	80,639	251,464	245,083
Depreciation and amortization		3,244	3,435	9,883	10,609
Operating income		15,253	12,227	39,123	35,158
Electrical [Member]
Net Sales		31,419	29,215	88,831	86,566
Depreciation and amortization		1,260	1,414	3,839	4,096
Operating income		5,781	3,224	13,220	7,541
Other Segments [Member]
Operating income	[1]	(33,373)	(1,121)	(39,795)	(6,065)
Net Sales	[2]	215,510	217,608	647,844	645,375
Depreciation and amortization		10,315	10,431	31,106	31,187
Operating income		8,584	40,130	74,303	107,439
Interest expense		922	1,292	3,021	3,736
Foreign exchange (gain) loss		(3,549)	(101)	(1,724)	2,022
Other (income) expense, net		(1,430)	(2,261)	(3,758)	(4,893)
Income before income taxes		$ 12,641	$ 41,200	$ 76,764	$ 106,574
[1]	For the three months ended September 26, 2015, "Other" consists of restructuring costs ($2.1 million), acquisition expenses ($0.3 million), pension settlement and wind-up costs ($30.9 million), and other ($0.1 million). For the nine months ended September 26, 2015, "Other" consist of restructuring costs ($6.8 million), acquisition expenses ($0.7 million), pension settlement and wind-up costs ($32.2 million) and other ($0.1 million).
[2]	Sales by country represent sale to customer or distributor locations.

Note 10 - Business Unit Segme44

Note 10 - Business Unit Segment Information - Net Sales by Geographic Area (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
UNITED STATES
Net sales	[1]	$ 85,049	$ 85,326	$ 258,030	$ 243,979
CHINA
Net sales	[1]	49,345	45,905	143,694	134,166
Other Countries [Member]
Net sales	[1]	81,116	86,377	246,120	267,230
Net sales	[1]	$ 215,510	$ 217,608	$ 647,844	$ 645,375
[1]	Sales by country represent sale to customer or distributor locations.

Note 10 - Business Unit Segme45

Note 10 - Business Unit Segment Information - Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 26, 2015	Sep. 27, 2014	Dec. 27, 2014
UNITED STATES
Long-lived assets	[1]	$ 27,250		$ 34,179
Additions to long-lived assets		8,367	$ 5,215
MEXICO
Long-lived assets	[1]	13,613		47,936
Additions to long-lived assets		6,518	5,784
CHINA
Long-lived assets	[1]	37,900		40,981
Additions to long-lived assets		5,159	3,461
Other Countries [Member]
Long-lived assets	[1]	84,002		35,544
Additions to long-lived assets		15,082	4,962
Long-lived assets	[1]	162,765		$ 158,640
Additions to long-lived assets		$ 35,126	$ 19,422
[1]	Long-lived assets consists of net property, plant and equipment.

Note 11 - Accumulated Other C46

Note 11 - Accumulated Other Comprehensive Income (Loss) (AOCI) (Details Textual) - USD ($)	Sep. 26, 2015	Dec. 27, 2014
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	$ 3,115,000	$ 12,587,000
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Tax	$ 0	$ 0

Note 11 - Accumulated Other C47

Note 11 - Accumulated Other Comprehensive Income (Loss) (AOCI) - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 26, 2015	Sep. 26, 2015
Pension liability adjustment(a)	[1]		$ (29,615)
Pension liability adjustment(a)		$ (16)	(140)	[1]
Pension liability adjustment(a)		(514)	1,457	[1]
Pension liability adjustment(a)		21,124	21,124	[1]
Pension liability adjustment(a)	[1]	(7,174)	(7,174)
Unrealized gain (loss) on investments(b)	[2]		10,791
Unrealized gain (loss) on investments(b)	[2]		(18)
Unrealized gain (loss) on investments(b)	[2]	10,773	10,773
Foreign currency translation adjustment			(2,302)
Foreign currency translation adjustment			(36,530)
Foreign currency translation adjustment		(38,832)	(38,832)
AOCI (loss) income			(21,126)
AOCI (loss) income			(36,688)
AOCI (loss) income			1,457
AOCI (loss) income			21,124
AOCI (loss) income		$ (35,233)	$ (35,233)
[1]	Balances are net of tax of $3,115 and $12,587 for 2015 and 2014, respectively.
[2]	Balances are net of tax of $0 and $0 for 2015 and 2014, respectively.

Note 12 - Subsequent Event (Det

Note 12 - Subsequent Event (Details Textual) $ in Millions	Oct. 01, 2015USD ($)
Subsequent Event [Member] | Sigmar [Member]
Business Acquisitions, Annual Revenue	$ 6