Littelfuse (LFUS) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jul. 02, 2016	Jul. 29, 2016
Document Information [Line Items]
Entity Registrant Name	LITTELFUSE INC /DE
Entity Central Index Key	889,331
Trading Symbol	lfus
Current Fiscal Year End Date	--12-31
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)		22,453,175
Document Type	10-Q
Document Period End Date	Jul. 2, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 02, 2016	Jan. 02, 2016
Current assets:
Cash and cash equivalents	$ 179,461	$ 328,786
Short-term investments	3,920	4,179
Accounts receivable, less allowances	197,543	142,882
Inventories	124,700	98,629
Prepaid expenses and other current assets	14,253	8,238
Total current assets	519,877	582,714
Property, plant and equipment:
Land	14,255	5,236
Buildings	84,457	71,383
Equipment	450,597	382,429
	549,309	459,048
Accumulated depreciation	(324,799)	(296,480)
Net property, plant and equipment	224,510	162,568
Intangible assets, net of amortization:
Patented and unpatented technologies, licenses and software	76,703	20,221
Distribution network	18,664	16,490
Customer lists, trademarks and tradenames	92,313	54,912
Goodwill	363,341	189,767
Investments	13,936	15,197
Deferred income taxes	13,994	8,333
Other assets	18,460	14,058
Total assets	1,341,798	1,064,260
Liabilities and Equity
Accounts payable	78,197	51,658
Accrued payroll	30,615	32,611
Accrued expenses	55,716	24,145
Accrued severance	1,328	3,798
Accrued income taxes	6,682	15,567
Current portion of long-term debt	6,250	87,000
Total current liabilities	178,788	214,779
Long-term debt, less current portion	361,732	83,753
Deferred income taxes	6,347	8,014
Accrued post-retirement benefits	7,498	5,653
Other long-term liabilities	12,576	12,809
Total equity	774,857	739,252
Total liabilities and equity	$ 1,341,798	$ 1,064,260

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares	Jul. 02, 2016	Jan. 02, 2016
Common shares issued (in shares)	22,552,780	22,420,785
Common shares oustanding (in shares)	22,552,780	22,420,785

Consolidated Statements of Net

Consolidated Statements of Net Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Revenue, Net	[1]	$ 271,912	$ 222,021	$ 491,310	$ 432,334
Cost of sales		174,046	136,740	306,289	270,723
Gross profit		97,866	85,281	185,021	161,611
Selling, general and administrative expenses		51,092	38,772	93,458	75,117
Research and development expenses		11,916	7,361	20,481	14,745
Amortization of intangibles		5,156	2,977	8,952	6,030
		68,164	49,110	122,891	95,892
Operating income		29,702	36,171	62,130	65,719
Interest expense		1,670	948	3,715	2,099
Foreign exchange (gain) loss		(6,237)	(1,292)	(2,414)	1,825
Other (income) expense, net		255	(1,202)	(262)	(2,328)
Income before income taxes		34,014	37,717	61,091	64,123
Income taxes		6,862	9,033	14,650	15,444
Net income		$ 27,152	$ 28,684	$ 46,441	$ 48,679
Net income per share (see Note 9):
Basic (in dollars per share)		$ 1.21	$ 1.26	$ 2.07	$ 2.15
Diluted (in dollars per share)		$ 1.20	$ 1.26	$ 2.05	$ 2.13
Weighted average shares and equivalent shares outstanding:
Basic (in shares)		22,528	22,691	22,483	22,645
Diluted (in shares)		22,674	22,835	22,647	22,810
Cash dividends paid per common share (in dollars per share)		$ 0.29	$ 0.25	$ 0.58	$ 0.50
[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		6 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Net income	$ 27,152	$ 28,684	$ 46,441	$ 48,679
Other comprehensive income (loss):
Pension liability adjustments (net of tax of $32 and $385 for the three months ended 2016 and 2015, and $365 and $416 for the six months ended 2016 and 2015, respectively)	(137)	(198)	(45)	(124)
Reclassification adjustments to expense, (net of tax of $0 and ($249), for the three months ended 2016 and 2015, and ($0) and ($498) for the six months ended 2016 and 2015, respectively)	71	985	144	1,971
Unrealized (loss) gain on investments	(252)	1,380	(1,486)	3,336
Foreign currency translation adjustments	(14,935)	3,821	(3,180)	(10,153)
Comprehensive income	$ 11,899	$ 34,672	$ 41,874	$ 43,709

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Pension liability adjustments, tax	$ 32,000	$ 385,000	$ 365,000	$ 416,000
Reclassification adjustment, tax	$ 0	$ (249,000)	$ 0	$ (498,000)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2016	Jun. 27, 2015
Operating activities:
Net income	$ 46,441	$ 48,679
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	16,156	14,761
Amortization of intangibles	8,952	6,030
Stock-based compensation	6,124	5,764
Impairment of long-lived assets	1,391
Inventory Charge Related to Step-up in Cost Basis	6,902
Excess tax benefit on share-based compensation	(1,585)	(1,470)
Loss on sale of assets	331	329
Accounts receivable	(20,846)	(21,266)
Inventories	(1,282)	(1,199)
Accounts payable	2,974	3,440
Accrued expenses (including post-retirement)	5,715	11,129
Accrued payroll and severance	(10,227)	(3,652)
Accrued taxes	(13,946)	(3,003)
Prepaid expenses and other	(11,824)	2,422
Net cash provided by operating activities	35,276	61,964
Investing activities:
Acquisition of businesses, net of cash acquired	(354,356)
Purchases of property, plant, and equipment	(20,217)	(26,388)
Decrease in entrusted loan receivable		3,519
Proceeds from sale of assets	370	48
Net cash used in investing activities	(374,203)	(22,821)
Financing activities:
Proceeds from revolving credit facility	(258,000)	(11,000)
Proceeds from term loan	125,000
Payments of revolving credit facility	(97,500)	(21,000)
Payments of term loan	(86,563)	(2,500)
Payments of entrusted loan		(3,519)
Debt issuance costs	(1,701)	(42)
Cash dividends paid	(12,995)	(11,296)
Proceeds from exercise of stock options	2,960	6,278
Excess tax benefit on share-based compensation	1,586	1,470
Net cash (used in) provided by financing activities	188,787	(19,609)
Effect of exchange rate changes on cash and cash equivalents	815	(5,190)
Increase (decrease) in cash and cash equivalents	(149,325)	14,344
Cash and cash equivalents at beginning of period	328,786	297,571
Cash and cash equivalents at end of period	$ 179,461	$ 311,915

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jul. 02, 2016
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 The company’s unaudited consolidated statement of income for the three months ended July 2, 2016 include the operating results of PolySwitch for the three month period from March 25, 2016 through June 25, 2016. The company’s unaudited consolidated statements of income for the three and six months ended July 2, 2016 both exclude a portion of the operating results of the PolySwitch business for the eight day period of June 26, 2016 through July 2, 2016. The related excluded portion of the operating results of PolySwitch for this eight day period is not material to the company’s financial statements for the three and six months ended July 2, 2016 and will be included within the company’s statement of income for the quarter ended October 1, 2016.

Note 2 - Correction of Immateri

Note 2 - Correction of Immaterial Errors	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Accounting Changes and Error Corrections [Text Block]	2. Correction of immaterial errors In the second quarter of 2016, management determined that the company may incur additional income taxes and interest in a foreign jurisdiction with respect to the 2011 through 2015 fiscal years. The cumulative adjustment for this income tax (including interest of $1.5 million) as of January 2, 2016, is approximately $4.9 million. The adjustment applicable to 2015, 2014, 2013, 2012 and 2011 was $1.6 million, $1.3 million, $1.0 million, $0.9 million and $0.1 million, respectively. Pursuant to the guidance of Staff Accounting Bulletin ("SAB") No. 99, Materiality, the Company concluded that the errors were not material to any of its applicable prior period annual and quarterly financial statements. Although the errors were immaterial to prior periods, the prior period annual financial statements were revised, in accordance with SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, due to the significance of the out-of-period correction. The adjustment for each year has been treated as applicable to the fourth quarter of each year. A reconciliation of the effects of the adjustments to the previously reported balance sheet at January 2, 2016 follows ($ in thousands): January 2, 2016 Previously Reported Adjustment As Revised Accrued income taxes $ 10,621 $ 4,946 $ 15,567 Total current liabilities 209,833 4,946 214,779 Total equity 744,198 (4,946 ) 739,252 A reconciliation of the effects of the adjustments to the previously reported statements of net income for the years ended January 2, 2016 and December 27, 2014 follows ($ in thousands, except per share amounts): Year Ended January 2 , 201 6 Year Ended December 27 , 201 4 Previously Reported Adjustment As Revised Previously Reported Adjustment As Revised Income taxes $ 24,482 $ 1,600 $ 26,082 $ 32,228 $ 1,318 $ 33,546 Net income 82,466 (1,600 ) 80,866 99,418 (1,318 ) 98,100 Net income per share - Basic $ 3.65 $ (0.07 ) $ 3.58 $ 4.41 $ (0.06 ) $ 4.35 Net income per share - Diluted $ 3.63 $ (0.07 ) $ 3.56 $ 4.37 $ (0.05 ) $ 4.32 A reconciliation of the effects of the adjustments to the previously reported statements of cash flows for the years ended January 2, 2016 and December 27, 2014 follows ($ in thousands): Year Ended January 2 , 201 6 Year Ended December 27 , 201 4 Previously Reported Adjustment As Revised Previously Reported Adjustment As Revised Net income $ 82,466 $ (1,600 ) $ 80,866 $ 99,418 $ (1,318 ) $ 98,100 Accrued taxes (1,043 ) 1,600 557 (549 ) 1,318 769 Net cash provided by operating activities 165,826 — 165,826 153,141 — 153,141 A reconciliation of the effects of the adjustments to the previously reported statements of equity for the years ended January 2, 2016 and December 27, 2014 follows ($ in thousands): Year Ended January 2 , 201 6 Year Ended December 27 , 201 4 Previously Reported Adjustment As Revised Previously Reported Adjustment As Revised Net income $ 82,466 $ (1,600 ) $ 80,866 $ 99,418 $ (1,318 ) $ 98,100 Comprehensive income 57,921 (1,600 ) 56,321 57,875 (1,318 ) 56,557 Retained earnings 562,717 (4,946 ) 557,771 523,302 (3,346 ) 519,956 Total shareholders’ equity 744,198 (4,946 ) 739,252 727,665 (3,346 ) 724,319 A reconciliation of the effects of the adjustments to the previously reported statement of equity at December 28, 2013 follows ($ in thousands): December 28, 2013 Previously Reported Adjustment As Revised Retained earnings $ 445,059 $ (2,028 ) $ 443,031 Total shareholders’ equity 686,916 (2,028 ) 684,888

Note 3 - Reclassifications

Note 3 - Reclassifications	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Reclassifications [Text Block]	3 . Reclassifications Certain amounts presented in the 2015 financial statements have been reclassified to conform to the 2016 presentation. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The amended guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The amended guidance is to be applied on a retrospective basis. The company adopted the new guidance on January 3, 2016 and has made the corresponding reclassification on its balance sheet for the fiscal year ended January 2, 2016. The adoption of the new guidance had no effect on the company’s net income, cash flows or shareholder’s equity.

Note 4 - Acquisition of Busines

Note 4 - Acquisition of Businesses	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	4 . Acquisition of Businesses Menber’s On April 4, 2016, the company completed the acquisition of Menber’s S.p.A. (“Menber’s”) headquartered in Legnago, Italy for $18.7 million, after settlement of a working capital adjustment. At July 2, 2016, $17.8 million of the $18.7 million purchase price has been paid and financed through a mixture of cash on hand and borrowings under the company’s revolving credit facility, with the remaining consideration expected to be paid out in the remainder of 2016. The acquired business is part of the company's commercial vehicle product business within the Automotive segment, specializes in the design, manufacturing and selling of manual and electrical battery switches and trailer connectors for commercial vehicles. The following table represents the preliminary allocation of the total consideration to assets acquired and liabilities assumed in the acquisition of Menber’s based on the company’s preliminary estimate of their respective fair values at the acquisition date (in thousands): Total purchase consideration: Cash $ 17,798 Additional consideration payable 919 Total purchase consideration $ 18,717 Preliminary allocation of consideration to assets acquired and liabilities assumed: Cash $ 15 Current assets, net 13,287 Property, plant and equipment 1,558 Customer relationships 3,066 Patented and unpatented technologies 389 Trademarks and tradenames 1,849 Goodwill 7,364 Current liabilities (7,367 ) Other non-current liabilities (1,444 ) $ 18,717 All Menber’s goodwill and other assets and liabilities were recorded in the Automotive segment and reflected in the Europe geographical area. The customer relationships are being amortized over 1 0 years. The patented and unpatented technologies are being amortized over 5 years. The trademarks and tradenames are being amortized over 10 years. The goodwill resulting from this acquisition consists largely of the company’s expected future product sales and synergies from combining Menber’s products with the company’s existing automotive product portfolio. Goodwill for the above acquisition is not expected to be deductible for tax purposes. Included in the company’s consolidated statements of net income for the three months ended July 2, 2016 are net sales of approximately $6.8 million and income before income taxes of approximately $0.6 million since the April 4, 2016 acquisition of Menber’s . The company incurred legal, professional and other costs related to this acquisition aggregating approximately $0.1 and $0.2 million for the three and six months ended July 2, 2016. These costs were recognized as selling, general and administrative expenses and reflected as other non-segment costs. PolySwitch On March 25, 2016, the company acquired 100% of the circuit protection business (“PolySwitch”) of TE Connectivity Ltd. for $350.0 million, subject to certain post-closing adjustments. The PolySwitch business, which is split between the Automotive and Electronics segments, has a leading position in polymer based resettable circuit protection devices, with a strong global presence in the automotive, battery, industrial, communications and mobile computing markets. PolySwitch has operations in Menlo Park, California and manufacturing facilities in Shanghai and Kunshan, China and Tsukuba, Japan. The acquisition allows the company to strengthen its global circuit protection product portfolio, as well as strengthen its presence in the automotive electronics and battery end markets. The acquisition also significantly increases the company’s presence in Japan. The company funded the acquisition with available cash and proceeds from a new credit facility . The following table represents the preliminary allocation of the total consideration to assets acquired and liabilities assumed in the acquisition of PolySwitch based on the company’s preliminary estimate of their respective fair values at the acquisition date (in thousands): Total purchase consideration $ 350,000 Preliminary allocation of consideration to assets acquired and liabilities assumed: Cash $ 16,958 Other current assets, net 57,114 Property, plant and equipment 57,042 Patented and unpatented technologies 56,425 Customer relationships 39,720 Goodwill 165,797 Other long-term assets 15,899 Current liabilities (53,389 ) Other non-current liabilities (5,566 ) $ 350,000 All PolySwitch goodwill and other assets and liabilities were recorded in the Automotive and Electronics segments and reflected in all geographic areas. The customer relationships are being amortized over 15 years. The patented and unpatented technologies are being amortized over 10 years. The goodwill resulting from this acquisition consists largely of the company’s expected future product sales and synergies from combining PolySwitch products with the company’s existing automotive and electronics product portfolio. A portion of the goodwill for the above acquisition is expected to be deductible for tax purposes. As required by purchase accounting rules, the company recorded a $6.9 million step-up of inventory to its fair value as of the acquisition date based on the preliminary valuation. The step-up was amortized as a non-cash charge to cost of goods sold during the second quarter of 2016, as the acquired inventory was sold, and reflected as other non-segment costs. Included in the company’s consolidated statements of net income for the three months ended July 2, 2016 are net sales of approximately $36.4 million and a loss before income taxes of approximately $9.1 million since the March 25, 2016 acquisition of PolySwitch. The company incurred legal, professional and other costs related to this acquisition aggregating approximately $5.7 million and $11.6 million for the three and six months ended July 2, 2016, respectively. Of these costs, approximately $0.9 million were recognized as cost of goods sold during the second quarter and the remainder of the costs both periods were recognized as selling, general and administrative expenses. All of these costs were reflected as other non-segment costs. Sigmar S.r.l On October 1, 2015, the company acquired 100% of Sigmar S.r.l. (“Sigmar”). The total purchase price for Sigmar is expected to be $6.7 million, net of cash acquired and including: (1) additional consideration of $1.1 million paid in the first six months of 2016 relating to certain working capital related adjustments and an earn-out clause payment; and (2) estimated additional net payments of up to $0.8 million, a portion of which is subject to the achievement of certain milestones. Located in Ozegna, Italy, Sigmar is a leading global manufacturer of water-in-fuel sensors and also manufactures selective catalytic reduction (SCR) quality sensors, diesel fuel heaters and rotating oil filters for automotive and commercial vehicle applications. The acquisition further expanded the company’s automotive sensor product line offerings within its Automotive segment. The company funded the acquisition with available cash. The following table sets forth the preliminary purchase price allocation for Sigmar 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 (in thousands): Total purchase consideration: Cash $ 5,845 Estimated additional consideration payable 844 Total purchase consideration $ 6,689 Preliminary allocation of consideration to assets acquired and liabilities assumed: Cash $ 230 Current assets, net 4,011 Property, plant and equipment 1,097 Goodwill 2,552 Patents 2,845 Current liabilities (1,478 ) Other non-current liabilities (2,568 ) $ 6,689 All Sigmar goodwill and other assets and liabilities were recorded in the Automotive segment and reflected in the Europe geographical area. The patents are being amortized over 10 years. The goodwill resulting from this acquisition consists largely of the company’s expected future product sales and synergies from combining Sigmar’s products with the company’s existing automotive product offerings. Goodwill for the above acquisition is not expected to be deductible for tax purposes. Pro Forma Results The following table summarizes, on a pro forma basis, the combined results of operations of the company and PolySwitch as though the acquisition had occurred as of December 28, 2014. The company has not provided pro forma results of operations for Menber’s or Sigmar as these results were not material to the company. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the PolySwitch acquisition occurred as of December 28, 2014 or of future consolidated operating results . For the Three Months Ended For the Six Months Ended (in thousands, except per share amounts) July 2 , 201 6 June 27 , 201 5 July 2 , 201 6 June 27 , 201 5 Net sales $ 271,912 $ 267,711 $ 525,520 $ 523,844 Income before income taxes 40,916 41,206 72,348 64,881 Net income 32,662 32,743 57,085 56,493 Net income per share — basic 1.45 1.44 2.54 2.49 Net income per share — diluted 1.44 1.43 2.52 2.48 The historical PolySwitch results for the three and six months ended July 2, 2016 and June 27, 2015 do not include a provision for income taxes. Income tax expense for the historical PolySwitch business was only provided at the end of the business’s fiscal year ended September 25, 2015.

Note 5 - Inventories

Note 5 - Inventories	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	5 . Inventories The components of inventories at July 2, 2016 and January 2, 2016 are as follows (in thousands): July 2, 2016 January 2, 2016 Raw material $ 37,738 $ 33,599 Work in process 24,978 16,479 Finished goods 61,984 48,551 Total inventories $ 124,700 $ 98,629

Note 6 - Investments

Note 6 - Investments	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Cost and Equity Method Investments Disclosure [Text Block]	6 . Investments The company’s investments represent shares of Polytronics Technology Corporation Ltd. (“Polytronics”), a Taiwanese company , and shares of Monolith Semiconductor, Inc. (“Monolith”), a Texas-based start-up company. Polytronics The Polytronics investment was acquired as part of the Littelfuse GmbH acquisition. The fair value of the Polytronics investment was €9.4 million (approximately $10.4 million) at July 2, 2016 and €10.7 million (approximately $11.7 million) at January 2, 2016. Included in 2016 other comprehensive income is an unrealized loss of $1.5 million, due to the decrease in fair market value of the Polytronics investment. The remaining change in in the recorded value was due to the impact of changes in exchange rates. Monolith In December, 2015, the company invested $3.5 million in the preferred stock of Monolith, a U.S. start-up company developing silicon carbide technology, which represents approximately 12% of the common stock of Monolith on an as-converted basis. The company accounts for its investment in Monolith under the cost method. The value of the Monolith investment was $3.5 million at July 2, 2016 and January 2, 2016.

Note 7 - Debt

Note 7 - Debt	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	7 . Debt The carrying amounts of debt at July 2, 2016 and January 2, 2016 are as follows (in thousands): July 2, 2016 January 2, 2016 Revolving credit facility $ 237,500 $ 77,000 Term loan 123,438 85,000 Entrusted loan 9,256 9,474 Unamortized debt issuance costs (2,212 ) (721 ) Total debt 367,982 170,753 Less: Current maturities 6,250 87,000 Total long-term debt $ 361,732 $ 83,753 Revolving Credit F acility / Term Loan On March 4, 2016, the company entered into a new credit agreement with Bank of America, as agent, for up to $700.0 million which consists of an unsecured revolving credit facility of $575.0 million and an unsecured term loan credit facility of up to $125.0 million. The new credit agreement is for a five year period. The new credit agreement replaced the company’s previous credit agreement dated May 31, 2013, which was terminated on March 4, 2016. As of July 2, 2016, the company had had $0.1 million outstanding in letters of credit and had available $337.4 million of borrowing capacity under the revolving credit facility at an interest rate of LIBOR plus 1.5% (1.97% as of July 2, 2016). At July 2, 2016, the company was in compliance with all covenants under the credit agreement . Entrusted Loan During 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”) and Suzhou Littelfuse OVS Ltd. (the “borrower”), utilizing Bank of America, N.A., Shanghai Branch as agent. Direct borrowing and lending between two commonly owned commercial entities was strictly forbidden at the time under China’s regulations requiring the use of a third party agent to enable loans between Chinese legal entities. As a result, the Entrusted Loan is reflected as both a long-term asset and long-term debt on the company’s Consolidated Balance Sheets and is reflected in the investing and financing activities in its Consolidated Statements of Cash Flows. Interest expense and interest income will be recorded between the lender and borrower with no net impact on the company’s Consolidated Statements of Income since the amounts will be offsetting. The loan interest rate per annum is 5.25%. The Entrusted Loan is used to finance the operation and working capital needs of the borrower and matures in November 2019. The balance of the Entrusted Loan was RMB 61.5 million (approximately $9.3 million) at July 2, 2016. Debt Issuance Costs The company incurred debt issuance costs of $1.7 million in relation to the new credit agreement which along with the remaining balance of debt issuance costs of the previous credit facility, are being amortized over the life of the new credit agreement. This new credit agreement was determined to be a modification under ASC 470-50 of the previous credit agreement . In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest

Note 8 - Fair Value of Assets a

Note 8 - Fair Value of Assets and Liabilities	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8 . 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. Investments The company holds an investment in the equity securities of Polytronics as described in Note 6. Equity securities listed on a national market or exchange, such as Polytronics, are valued at the last sales price. Such securities are classified within Level 1 of the valuation hierarchy. The company also holds an investment in Monolith as described in Note 6 for which the value of the $3.5 million represents the cost of the investment. There were no changes during the quarter ended July 2, 2016 to the company’s valuation techniques used to measure asset and liability fair values on a recurring basis. As of July 2, 2016 and January 2, 2016 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 July 2, 2016 (in thousands): Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 10,438 $ — $ — $ 10,438 Total $ 10,438 $ — $ — $ 10,438 The following table presents assets measured at fair value by classification within the fair value hierarchy as of January 2, 2016 (in thousands): Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 11,697 $ — $ — $ 11,697 Total $ 11,697 $ — $ — $ 11,697 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, accounts payable and debt approximate their fair values. The company’s debt fair value approximates book value at July 2, 2016 and January 2, 2016, respectively, as the variable interest rates fluctuate along with market interest rates.

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	9 . Earnings per Share The following table sets forth the computation of basic and diluted earnings per share of July 2, 2016 and June 27, 2015 (in thousands, except per share amounts). For the Three Months Ended For the Six Months Ended Ju ly 2, 201 6 June 27, 2015 Ju ly 2, 201 6 June 27, 2015 Net income $ 27.152 $ 28.684 $ 46,441 $ 48,679 Average shares outstanding - Basic 22,528 22,691 22,483 22,645 Net effect of dilutive stock options and restricted share units 146 144 164 165 Average shares - Diluted 22,674 22,835 22,647 22,810 Net income per share: Basic $ 1.21 $ 1.26 $ 2.07 $ 2.15 Diluted $ 1.20 $ 1.26 $ 2.05 $ 2.13 Potential shares of common stock relating to stock options excluded from the earnings per share calculation because their effect would be anti-dilutive were 60,491 and 113,878 for the three months ended July 2, 2016 and June 27, 2015, respectively, and 36,699 and 90,875 for the six months ended July 2, 2016 and June 27, 2015, respectively.

Note 10 - Income Taxes

Note 10 - Income Taxes	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10 . Income Taxes The effective tax rate for the second quarter of 2016 was 20.2% compared to an effective tax rate of 23.9% in the second quarter of 2015. The effective tax rate for the six months ended July 2, 2016 was 24.0% as compared to an effective tax rate of 24.1% for the six months ended June 27, 2015. The effective tax rates for all periods presented are lower than the U.S. statutory tax rate primarily due to income earned in lower tax jurisdictions.

Note 11 - Pensions

Note 11 - Pensions	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	1 1 . Pensions The components of net periodic benefit cost for the three and six months ended July 2, 2016, compared with the three and six months ended June 27, 2015, were (in thousands): U.S. Pension Benefits Foreign Plans Three Months Ended Six Months Ended Three Months Ended Six Months Ended July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 Service cost $ - $ 250 $ - $ 500 $ 333 $ 315 $ 665 $ 630 Interest cost - 1,031 - 2,062 496 513 993 1,026 Expected return on plan assetsassets - (916 ) - (1,832 ) (520 ) (601 ) (1,040 ) (1,201 ) Amortization of net loss - 290 - 580 73 62 146 123 Total cost (credit) of the plan - 655 - 1,310 382 289 764 578 Expected plan participants’ contribution - - - - - - - - Net periodic benefit cost (credit) $ - $ 655 $ - $ 1,310 $ 382 $ 289 $ 764 $ 578 * The U.S. pension plan was terminated effective July 30, 2014 and, following receipt of a favorable Letter of Determination from the IRS (dated April 14, 2015), all liabilities of the plan were settled during the third quarter of fiscal 2015. The expected rate of return assumption on U.S. pension assets was 3.90% in 2015. The expected return on foreign pension assets is 4.95% and 5.39% in 2016 and 2015, respectively.

Note 12 - Segment and Geographi

Note 12 - Segment and Geographic Information	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 2 . Segment and Geographic Information The company and its subsidiaries design, manufacture and sell components and modules for circuit protection, power control and sensing throughout the world. The company reports its operations by the following segments: Electronics, Automotive, and Industrial. 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”). The CODM 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. Manufacturing, purchasing, logistics, customer service, finance, information technology and human resources are shared functions that are allocated back to the three operating segments. The company does not report inter-segment revenue because the operating segments do not record it. Certain expenses, determined by the CODM to be strategic in nature and not directly related to segments current results, are not allocated but identified as “ Other ” . Additionally, the company does not allocate interest and other income, interest expense, or taxes to operating segments. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Although the CODM 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. Segment information for the three and six months ended July 2, 2016 and June 27, 2015 are summarized “as follows (in thousands): For the Three Months Ended For the Six Months Ended July 2 , 201 6 June 27, 2015 July 2, 2016 June 27, 2015 Net sales Electronics $ 132,170 $ 105,553 $ 230,966 $ 204,933 Automotive 111,370 85,918 203,303 169,989 Industrial 28,372 30,550 57,041 57,412 Total net sales $ 271,912 $ 222,021 $ 491,310 $ 432,334 Depreciation and amortization Electronics $ 7,717 $ 5,775 $ 13,089 $ 11,573 Automotive 4,988 3,303 8,254 6,639 Industrial 1,376 1,295 2,828 2,579 Other (1) - - 937 - Total depreciation and amortization $ 14,081 $ 10,373 $ 25,108 $ 20,791 Operating income (loss) Electronics $ 25,259 $ 22,167 $ 47,675 $ 40,832 Automotive 16,474 12,699 33,965 23,870 Industrial 2,028 4,709 3,701 7,439 Other (2 ) (14,059 ) (3,404 ) (23,211 ) (6,422 ) Total operating income 29,702 36,171 62,130 65,719 Interest expense 1,670 948 3,715 2,099 Foreign exchange (gain) loss (6,237 ) (1,292 ) (2,414 ) 1,825 Other (income) expense, net 255 (1,202 ) (262 ) (2,328 ) Income before income taxes $ 34,014 $ 37,717 $ 61,091 $ 64,123 (2) Included in “Other” Operating income (loss) for the 2016 second quarter is $6.1 million ($12.3 million year-to-date) of acquisition-related costs primarily related to legal and integration costs associated with the company’s acquisition of the PolySwitch business, a $6.9 million ($6.9 million year-to-date) inventory adjustment relating to the PolySwitch acquisition as described in Note 4, $0.3 million ($1.9 million year-to-date) in charges related to the closure of the company’s manufacturing facility in Denmark, $0.7 million ($1.7 million year-to-date) related to the company’s transfer of its reed sensor manufacturing operations from the U.S. and China to the Philippines and $0.1 million ($0.4 million year-to-date) related to internal legal restructuring costs. Included in “Other” Operating income (loss) for the 2015 second quarter is $0.9 million ($1.9 million year-to-date) of costs related to the company’s transfer of its reed sensor manufacturing from the U.S. to the Philippines, $1.7 million ($2.9 million year-to-date) related to internal legal restructuring, $0.2 million ($0.3 million year-to-date) related to acquisition costs and $0.7 million ($1.3 million year-to-date) of expense related to the planned termination of the U.S. pension as described in Note 11 . The company’s significant net sales by country for the three and six months ended July 2, 2016 and June 27, 2015 are summarized as follows (in thousands): For the Three Months Ended ( a ) For the Six Months Ended ( a ) July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 United States $ 93,036 $ 89,608 $ 178,184 $ 172,981 China 62,411 49,920 110,919 94,349 Other countries 116,465 82,493 202,207 165,004 Total $ 271,912 $ 222,021 $ 491,310 $ 432,334 (a) Sales by country represent sales to customer or distributor locations. The company’s significant long-lived assets by country as of July 2, 2016 and January 2, 2016 are summarized as follows (in thousands): Long-lived assets (b) July 2 , 2016 January 2, 2016 United States $ 23,985 $ 23,965 China 70,325 37,241 Canada 10,925 10,488 Other countries 119,275 90,874 Total $ 224,510 $ 162,568 (b) Long-lived assets consists of net property, plant and equipment. The company’s significant additions to long-lived assets by country for the six months ended July 2, 2016 and June 27, 2015 are summarized as follows (in thousands): Additions to long-lived assets July 2 , 2016 June 27, 2015 United States $ 2,783 $ 6,615 China 3,847 4,080 Canada 137 878 Other countries 13,450 14,815 Total $ 20,217 $ 26,388

Note 13 - Accumulated Other Com

Note 13 - Accumulated Other Comprehensive Income (Loss) (AOCI)	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	1 3 . 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 January 2, 2016 Other comprehensive income (loss) activity Reclassification adjustment for expense included in net income Balance at July 2 , 2016 Pension and postemployment liability and reclassification adjustments (a) $ (8,722 ) $ (45 ) $ 144 $ (8,623 ) Unrealized gain on investments (b) 11,584 (1,486 ) — 10,098 Foreign currency translation adjustment (48,533 ) (3,180 ) — (51,713 ) AOCI (loss) income $ (45,671 ) $ (4,711 ) $ 144 $ (50,238 ) (a) Balances are net of tax of $654 and $661 for July 2, 2016 and January 2, 2016, respectively. (b) Balances are net of tax of $0 and $0 for July 2, 2016 and January 2, 2016, respectively.

Note 14 - Product Line Sale

Note 14 - Product Line Sale	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Asset Impairment Charges [Text Block]	1 4 . Product Line Sale During the first quarter of 2016, the company sold its tangible and intangible assets relating to a marine product line that it acquired as part of its acquisition of Selco A/S in 2011. In connection with this sale, the company recorded asset impairment charges of $1.4 million within cost of sales ($0.4 million), selling, general and administrative expenses (less than $0.1 million), research and development expenses (less than $0.1 million) and amortization of intangibles ($0.9) million. These charges were recognized as an “other” charge for segment reporting purposes.

Note 15 - Subsequent Event

Note 15 - Subsequent Event	6 Months Ended
	Jul. 02, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	1 5 . Subsequent E vent None.

Note 2 - Correction of Immate23

Note 2 - Correction of Immaterial Errors (Tables)	6 Months Ended
	Jul. 02, 2016
Adjustments to Statement of Shareholders' Equity Elements [Member]
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Year Ended January 2 , 201 6 Year Ended December 27 , 201 4 Previously Reported Adjustment As Revised Previously Reported Adjustment As Revised Net income $ 82,466 $ (1,600 ) $ 80,866 $ 99,418 $ (1,318 ) $ 98,100 Comprehensive income 57,921 (1,600 ) 56,321 57,875 (1,318 ) 56,557 Retained earnings 562,717 (4,946 ) 557,771 523,302 (3,346 ) 519,956 Total shareholders’ equity 744,198 (4,946 ) 739,252 727,665 (3,346 ) 724,319 December 28, 2013 Previously Reported Adjustment As Revised Retained earnings $ 445,059 $ (2,028 ) $ 443,031 Total shareholders’ equity 686,916 (2,028 ) 684,888
Adjustments to Statement of Cash Flow Elements [Member]
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Year Ended January 2 , 201 6 Year Ended December 27 , 201 4 Previously Reported Adjustment As Revised Previously Reported Adjustment As Revised Net income $ 82,466 $ (1,600 ) $ 80,866 $ 99,418 $ (1,318 ) $ 98,100 Accrued taxes (1,043 ) 1,600 557 (549 ) 1,318 769 Net cash provided by operating activities 165,826 — 165,826 153,141 — 153,141
Adjustments to Statement of Income Elements [Member]
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Year Ended January 2 , 201 6 Year Ended December 27 , 201 4 Previously Reported Adjustment As Revised Previously Reported Adjustment As Revised Income taxes $ 24,482 $ 1,600 $ 26,082 $ 32,228 $ 1,318 $ 33,546 Net income 82,466 (1,600 ) 80,866 99,418 (1,318 ) 98,100 Net income per share - Basic $ 3.65 $ (0.07 ) $ 3.58 $ 4.41 $ (0.06 ) $ 4.35 Net income per share - Diluted $ 3.63 $ (0.07 ) $ 3.56 $ 4.37 $ (0.05 ) $ 4.32
Adjustments to Balance Sheet Elements [Member]
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	January 2, 2016 Previously Reported Adjustment As Revised Accrued income taxes $ 10,621 $ 4,946 $ 15,567 Total current liabilities 209,833 4,946 214,779 Total equity 744,198 (4,946 ) 739,252

Note 4 - Acquisition of Busin24

Note 4 - Acquisition of Businesses (Tables)	6 Months Ended
	Jul. 02, 2016
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Total purchase consideration: Cash $ 17,798 Additional consideration payable 919 Total purchase consideration $ 18,717 Preliminary allocation of consideration to assets acquired and liabilities assumed: Cash $ 15 Current assets, net 13,287 Property, plant and equipment 1,558 Customer relationships 3,066 Patented and unpatented technologies 389 Trademarks and tradenames 1,849 Goodwill 7,364 Current liabilities (7,367 ) Other non-current liabilities (1,444 ) $ 18,717 Total purchase consideration $ 350,000 Preliminary allocation of consideration to assets acquired and liabilities assumed: Cash $ 16,958 Other current assets, net 57,114 Property, plant and equipment 57,042 Patented and unpatented technologies 56,425 Customer relationships 39,720 Goodwill 165,797 Other long-term assets 15,899 Current liabilities (53,389 ) Other non-current liabilities (5,566 ) $ 350,000 Total purchase consideration: Cash $ 5,845 Estimated additional consideration payable 844 Total purchase consideration $ 6,689 Preliminary allocation of consideration to assets acquired and liabilities assumed: Cash $ 230 Current assets, net 4,011 Property, plant and equipment 1,097 Goodwill 2,552 Patents 2,845 Current liabilities (1,478 ) Other non-current liabilities (2,568 ) $ 6,689
Business Acquisition, Pro Forma Information [Table Text Block]	For the Three Months Ended For the Six Months Ended (in thousands, except per share amounts) July 2 , 201 6 June 27 , 201 5 July 2 , 201 6 June 27 , 201 5 Net sales $ 271,912 $ 267,711 $ 525,520 $ 523,844 Income before income taxes 40,916 41,206 72,348 64,881 Net income 32,662 32,743 57,085 56,493 Net income per share — basic 1.45 1.44 2.54 2.49 Net income per share — diluted 1.44 1.43 2.52 2.48

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	6 Months Ended
	Jul. 02, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	July 2, 2016 January 2, 2016 Raw material $ 37,738 $ 33,599 Work in process 24,978 16,479 Finished goods 61,984 48,551 Total inventories $ 124,700 $ 98,629

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	6 Months Ended
	Jul. 02, 2016
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	July 2, 2016 January 2, 2016 Revolving credit facility $ 237,500 $ 77,000 Term loan 123,438 85,000 Entrusted loan 9,256 9,474 Unamortized debt issuance costs (2,212 ) (721 ) Total debt 367,982 170,753 Less: Current maturities 6,250 87,000 Total long-term debt $ 361,732 $ 83,753

Note 8 - Fair Value of Assets27

Note 8 - Fair Value of Assets and Liabilities (Tables)	6 Months Ended
	Jul. 02, 2016
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 $ 10,438 $ — $ — $ 10,438 Total $ 10,438 $ — $ — $ 10,438 Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 11,697 $ — $ — $ 11,697 Total $ 11,697 $ — $ — $ 11,697

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	6 Months Ended
	Jul. 02, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Six Months Ended Ju ly 2, 201 6 June 27, 2015 Ju ly 2, 201 6 June 27, 2015 Net income $ 27.152 $ 28.684 $ 46,441 $ 48,679 Average shares outstanding - Basic 22,528 22,691 22,483 22,645 Net effect of dilutive stock options and restricted share units 146 144 164 165 Average shares - Diluted 22,674 22,835 22,647 22,810 Net income per share: Basic $ 1.21 $ 1.26 $ 2.07 $ 2.15 Diluted $ 1.20 $ 1.26 $ 2.05 $ 2.13

Note 11 - Pensions (Tables)

Note 11 - Pensions (Tables)	6 Months Ended
	Jul. 02, 2016
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	U.S. Pension Benefits Foreign Plans Three Months Ended Six Months Ended Three Months Ended Six Months Ended July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 Service cost $ - $ 250 $ - $ 500 $ 333 $ 315 $ 665 $ 630 Interest cost - 1,031 - 2,062 496 513 993 1,026 Expected return on plan assetsassets - (916 ) - (1,832 ) (520 ) (601 ) (1,040 ) (1,201 ) Amortization of net loss - 290 - 580 73 62 146 123 Total cost (credit) of the plan - 655 - 1,310 382 289 764 578 Expected plan participants’ contribution - - - - - - - - Net periodic benefit cost (credit) $ - $ 655 $ - $ 1,310 $ 382 $ 289 $ 764 $ 578

Note 12 - Segment and Geograp30

Note 12 - Segment and Geographic Information (Tables)	6 Months Ended
	Jul. 02, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended For the Six Months Ended July 2 , 201 6 June 27, 2015 July 2, 2016 June 27, 2015 Net sales Electronics $ 132,170 $ 105,553 $ 230,966 $ 204,933 Automotive 111,370 85,918 203,303 169,989 Industrial 28,372 30,550 57,041 57,412 Total net sales $ 271,912 $ 222,021 $ 491,310 $ 432,334 Depreciation and amortization Electronics $ 7,717 $ 5,775 $ 13,089 $ 11,573 Automotive 4,988 3,303 8,254 6,639 Industrial 1,376 1,295 2,828 2,579 Other (1) - - 937 - Total depreciation and amortization $ 14,081 $ 10,373 $ 25,108 $ 20,791 Operating income (loss) Electronics $ 25,259 $ 22,167 $ 47,675 $ 40,832 Automotive 16,474 12,699 33,965 23,870 Industrial 2,028 4,709 3,701 7,439 Other (2 ) (14,059 ) (3,404 ) (23,211 ) (6,422 ) Total operating income 29,702 36,171 62,130 65,719 Interest expense 1,670 948 3,715 2,099 Foreign exchange (gain) loss (6,237 ) (1,292 ) (2,414 ) 1,825 Other (income) expense, net 255 (1,202 ) (262 ) (2,328 ) Income before income taxes $ 34,014 $ 37,717 $ 61,091 $ 64,123
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	For the Three Months Ended ( a ) For the Six Months Ended ( a ) July 2, 2016 June 27, 2015 July 2, 2016 June 27, 2015 United States $ 93,036 $ 89,608 $ 178,184 $ 172,981 China 62,411 49,920 110,919 94,349 Other countries 116,465 82,493 202,207 165,004 Total $ 271,912 $ 222,021 $ 491,310 $ 432,334
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	Long-lived assets (b) July 2 , 2016 January 2, 2016 United States $ 23,985 $ 23,965 China 70,325 37,241 Canada 10,925 10,488 Other countries 119,275 90,874 Total $ 224,510 $ 162,568 Additions to long-lived assets July 2 , 2016 June 27, 2015 United States $ 2,783 $ 6,615 China 3,847 4,080 Canada 137 878 Other countries 13,450 14,815 Total $ 20,217 $ 26,388

Note 13 - Accumulated Other C31

Note 13 - Accumulated Other Comprehensive Income (Loss) (AOCI) (Tables)	6 Months Ended
	Jul. 02, 2016
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	AOCI component Balance at January 2, 2016 Other comprehensive income (loss) activity Reclassification adjustment for expense included in net income Balance at July 2 , 2016 Pension and postemployment liability and reclassification adjustments (a) $ (8,722 ) $ (45 ) $ 144 $ (8,623 ) Unrealized gain on investments (b) 11,584 (1,486 ) — 10,098 Foreign currency translation adjustment (48,533 ) (3,180 ) — (51,713 ) AOCI (loss) income $ (45,671 ) $ (4,711 ) $ 144 $ (50,238 )

Note 2 - Correction of Immate32

Note 2 - Correction of Immaterial Errors (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended					60 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015	Jan. 02, 2016	Dec. 27, 2014	Dec. 28, 2013	Dec. 29, 2012	Dec. 31, 2011	Jan. 02, 2016
Restatement Adjustment [Member] | Foreign Tax Authority [Member]
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense										$ 1,500
Income Tax Expense (Benefit)					$ 1,600	$ 1,300	$ 1,000	$ 900	$ 100	$ 4,900
Restatement Adjustment [Member]
Income Tax Expense (Benefit)					1,600	1,318
Income Tax Expense (Benefit)	$ 6,862	$ 9,033	$ 14,650	$ 15,444	$ 26,082	$ 33,546

Note 2 - Effects of Adjustments

Note 2 - Effects of Adjustments to Correct Immaterial Errors, Balance Sheet (Details) - USD ($) $ in Thousands	Jul. 02, 2016	Jan. 02, 2016	Dec. 27, 2014	Dec. 28, 2013
Scenario, Previously Reported [Member]
Accrued income taxes		$ 10,621
Total current liabilities		209,833
Total equity		744,198	$ 727,665	$ 686,916
Restatement Adjustment [Member]
Accrued income taxes		4,946
Total current liabilities		4,946
Total equity		(4,946)	(3,346)	(2,028)
Accrued income taxes	$ 6,682	15,567
Total current liabilities	178,788	214,779
Total equity	$ 774,857	$ 739,252	$ 724,319	$ 684,888

Note 2 - Effects of Adjustmen34

Note 2 - Effects of Adjustments to Correct Immaterial Errors, Statements of Net Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015	Jan. 02, 2016	Dec. 27, 2014
Scenario, Previously Reported [Member]
Income Tax Expense (Benefit)					$ 24,482	$ 32,228
Net income					$ 82,466	$ 99,418
Net income per share - Basic (in dollars per share)					$ 3.65	$ 4.41
Net income per share - Diluted (in dollars per share)					$ 3.63	$ 4.37
Restatement Adjustment [Member]
Income Tax Expense (Benefit)					$ 1,600	$ 1,318
Net income					$ (1,600)	$ (1,318)
Net income per share - Basic (in dollars per share)					$ (0.07)	$ (0.06)
Net income per share - Diluted (in dollars per share)					$ (0.07)	$ (0.05)
Income Tax Expense (Benefit)	$ 6,862	$ 9,033	$ 14,650	$ 15,444	$ 26,082	$ 33,546
Net income	$ 27,152	$ 28,684	$ 46,441	$ 48,679	$ 80,866	$ 98,100
Net income per share - Basic (in dollars per share)	$ 1.21	$ 1.26	$ 2.07	$ 2.15	$ 3.58	$ 4.35
Net income per share - Diluted (in dollars per share)	$ 1.20	$ 1.26	$ 2.05	$ 2.13	$ 3.56	$ 4.32

Note 2 - Effects of Adjustmen35

Note 2 - Effects of Adjustments to Correct Immaterial Errors, Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jan. 02, 2016	Dec. 27, 2014
Scenario, Previously Reported [Member]
Net income			$ 82,466	$ 99,418
Accrued taxes			(1,043)	(549)
Net cash provided by operating activities			165,826	153,141
Restatement Adjustment [Member]
Net income			(1,600)	(1,318)
Accrued taxes			1,600	1,318
Net cash provided by operating activities
Net income	$ 46,441	$ 48,679	80,866	98,100
Accrued taxes	(13,946)	(3,003)	557	769
Net cash provided by operating activities	$ 35,276	$ 61,964	$ 165,826	$ 153,141

Note 2 - Effects of Adjustmen36

Note 2 - Effects of Adjustments to Correct Immaterial Errors, Statements of Equity (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jan. 02, 2016	Dec. 27, 2014	Dec. 28, 2013
Scenario, Previously Reported [Member] | Retained Earnings [Member]
Total equity			$ 562,717	$ 523,302	$ 445,059
Scenario, Previously Reported [Member]
Net income			82,466	99,418
Comprehensive income			57,921	57,875
Total equity			744,198	727,665	686,916
Restatement Adjustment [Member] | Retained Earnings [Member]
Total equity			(4,946)	(3,346)	(2,028)
Restatement Adjustment [Member]
Net income			(1,600)	(1,318)
Comprehensive income			(1,600)	(1,318)
Total equity			(4,946)	(3,346)	(2,028)
Retained Earnings [Member]
Total equity			557,771	519,956	443,031
Net income	$ 46,441	$ 48,679	80,866	98,100
Comprehensive income			56,321	56,557
Total equity	$ 774,857		$ 739,252	$ 724,319	$ 684,888

Note 4 - Acquisition of Busin37

Note 4 - Acquisition of Businesses (Details Textual) - USD ($) $ in Thousands		Apr. 04, 2016	Mar. 25, 2016	Oct. 01, 2015	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Menber's S.p.A. [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life		10 years
Menber's S.p.A. [Member] | Patented and Unpatented Technologies [Member]
Finite-Lived Intangible Asset, Useful Life		5 years
Menber's S.p.A. [Member] | Trademarks and Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life		10 years
Menber's S.p.A. [Member] | Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs					$ 100		$ 200
Menber's S.p.A. [Member]
Business Combination, Consideration Transferred		$ 18,717
Payments to Acquire Businesses, Gross		$ 17,798
Revenue, Net					6,800
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest					600
PolySwitch [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			15 years
PolySwitch [Member] | Patented and Unpatented Technologies [Member]
Finite-Lived Intangible Asset, Useful Life			10 years
PolySwitch [Member] | Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs					5,700		11,600
PolySwitch [Member] | Cost of Sales [Member]
Business Combination, Acquisition Related Costs					900
PolySwitch [Member]
Business Combination, Consideration Transferred			$ 350,000
Revenue, Net					36,400
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest					9,100
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
Business Acquisition Inventory Stepup			$ 6,900
Sigmar [Member] | Patents [Member]
Finite-Lived Intangible Asset, Useful Life				10 years
Sigmar [Member]
Business Combination, Consideration Transferred				$ 6,689
Payments to Acquire Businesses, Gross				$ 5,845
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Payments to Acquire Businesses, Net of Cash Acquired				$ 6,700
Payments for Previous Acquisition							1,100
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High				$ 800
Revenue, Net	[1]				271,912	$ 222,021	491,310	$ 432,334
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest					$ 34,014	37,717	61,091	64,123
Business Combination, Acquisition Related Costs						$ 200		300
Payments to Acquire Businesses, Net of Cash Acquired							$ (331)	$ (329)
[1]	Sales by country represent sale to customer or distributor locations.

Note 4 - Acquisition of Busin38

Note 4 - Acquisition of Businesses - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Apr. 04, 2016	Mar. 25, 2016	Oct. 01, 2015	Jul. 02, 2016	Jan. 02, 2016
PolySwitch [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill		$ 56,425
PolySwitch [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill		39,720
PolySwitch [Member]
Business Combination, Consideration Transferred		350,000
Cash		16,958
Property, plant and equipment		57,042
Goodwill		165,797
Current liabilities		(53,389)
Other non-current liabilities		(5,566)
		350,000
Other current assets, net		57,114
Other long-term assets		$ 15,899
Menber's S.p.A. [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	$ 389
Menber's S.p.A. [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill	3,066
Menber's S.p.A. [Member] | Trademarks and Trade Names [Member]
Intangible assets, other than goodwill	1,849
Menber's S.p.A. [Member]
Payments to Acquire Businesses, Gross	17,798
Additional consideration payable	919
Business Combination, Consideration Transferred	18,717
Cash	15
Current assets, net	13,287
Property, plant and equipment	1,558
Goodwill	7,364
Current liabilities	(7,367)
Other non-current liabilities	(1,444)
	$ 18,717
Sigmar [Member] | Patents [Member]
Intangible assets, other than goodwill			$ 2,845
Sigmar [Member]
Payments to Acquire Businesses, Gross			5,845
Additional consideration payable			844
Business Combination, Consideration Transferred			6,689
Cash			230
Current assets, net			4,011
Property, plant and equipment			1,097
Goodwill			2,552
Current liabilities			(1,478)
Other non-current liabilities			(2,568)
			$ 6,689
Goodwill				$ 363,341	$ 189,767

Note 4 - Acquisition of Busin39

Note 4 - Acquisition of Businesses - Business Acquisition Pro Forma Information (Details) - PolySwitch [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Net sales	$ 271,912	$ 267,711	$ 525,520	$ 523,844
Income before income taxes	40,916	41,206	72,348	64,881
Net income	$ 32,662	$ 32,743	$ 57,085	$ 56,493
Net income per share — basic (in dollars per share)	$ 1.45	$ 1.44	$ 2.54	$ 2.49
Net income per share — diluted (in dollars per share)	$ 1.44	$ 1.43	$ 2.52	$ 2.48

Note 5 - Inventories - Componen

Note 5 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jul. 02, 2016	Jan. 02, 2016
Raw material	$ 37,738	$ 33,599
Work in process	24,978	16,479
Finished goods	61,984	48,551
Total inventories	$ 124,700	$ 98,629

Note 6 - Investments (Details T

Note 6 - Investments (Details Textual) € in Millions, $ in Millions	6 Months Ended
	Jul. 02, 2016USD ($)	Jul. 02, 2016EUR (€)	Jul. 02, 2016USD ($)	Jan. 02, 2016EUR (€)	Jan. 02, 2016USD ($)
Monolith [Member]
Cost Method Investments, Fair Value Disclosure			$ 3.5		$ 3.5
Cost Method Investments					$ 3.5
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				12.00%	12.00%
Polytronics [Member]
Marketable Securities, Equity Securities		€ 9.4	$ 10.4	€ 10.7	$ 11.7
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax	$ (1.5)

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) $ in Thousands, ¥ in Millions	Jul. 02, 2016USD ($)	Mar. 04, 2016USD ($)	Jul. 02, 2016USD ($)	Jun. 27, 2015USD ($)	Jul. 02, 2016CNY (¥)	Jan. 02, 2016USD ($)	Dec. 27, 2014USD ($)	Dec. 27, 2014CNY (¥)
Bank of America [Member] | Unsecured Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Bank of America [Member] | Unsecured Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 575,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 337,400		$ 337,400
Line of Credit Facility, Interest Rate at Period End	1.97%		1.97%		1.97%
Bank of America [Member]
Line of Credit Facility, Maximum Borrowing Capacity		700,000
Loans Payable to Bank		$ 125,000
Line of Credit Facility, Expiration Period		5 years
Letters of Credit Outstanding, Amount	$ 100		$ 100
Entrustment Loan Member
Entrusted Loan							$ 17,900	¥ 110
Debt Instrument, Interest Rate, Stated Percentage	5.25%		5.25%		5.25%
Entrusted Loan, Total	$ 9,300		$ 9,300		¥ 61.5
Loans Payable to Bank	123,438		123,438			$ 85,000
Entrusted Loan	$ 9,256		9,256			$ 9,474
Payments of Debt Issuance Costs			$ 1,701	$ 42

Note 7 - Debt - Carrying Amount

Note 7 - Debt - Carrying Amounts of Long-term Debt (Details) - USD ($) $ in Thousands	Jul. 02, 2016	Jan. 02, 2016
Revolving credit facility	$ 237,500	$ 77,000
Loans Payable to Bank	123,438	85,000
Entrusted Loan	9,256	9,474
Unamortized debt issuance costs	(2,212)	(721)
Total debt	367,982	170,753
Less: Current maturities	6,250	87,000
Total long-term debt	$ 361,732	$ 83,753

Note 8 - Fair Value of Assets44

Note 8 - Fair Value of Assets and Liabilities (Details Textual) - USD ($) $ in Millions	Jul. 02, 2016	Jan. 02, 2016
Monolith [Member]
Cost Method Investments, Fair Value Disclosure	$ 3.5	$ 3.5

Note 8 - Fair Value of Assets45

Note 8 - Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - Polytronics [Member] - USD ($) $ in Thousands	Jul. 02, 2016	Jan. 02, 2016
Fair Value, Inputs, Level 1 [Member]
Investment in Polytronics	$ 10,438	$ 11,697
Total	10,438	11,697
Investment in Polytronics	10,438	11,697
Total	$ 10,438	$ 11,697

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	60,491	113,878	36,699	90,875

Note 9 - Earnings Per Share - C

Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015	Jan. 02, 2016	Dec. 27, 2014
Net income	$ 27,152	$ 28,684	$ 46,441	$ 48,679	$ 80,866	$ 98,100
Basic (in shares)	22,528	22,691	22,483	22,645
Net effect of dilutive stock options and restricted share units (in shares)	146	144	164	165
Average shares - Diluted (in shares)	22,674	22,835	22,647	22,810
Net income per share (see Note 9):
Net income per share - Basic (in dollars per share)	$ 1.21	$ 1.26	$ 2.07	$ 2.15	$ 3.58	$ 4.35
Net income per share - Diluted (in dollars per share)	$ 1.20	$ 1.26	$ 2.05	$ 2.13	$ 3.56	$ 4.32

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual)	3 Months Ended		6 Months Ended
	Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Effective Income Tax Rate Reconciliation, Percent	20.20%	23.90%	24.00%	24.10%

Note 11 - Pensions (Details Tex

Note 11 - Pensions (Details Textual)	6 Months Ended	12 Months Ended
	Jul. 02, 2016	Jan. 02, 2016
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%
Foreign Pension Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets	4.95%	5.39%

Note 11 - Pensions - Components

Note 11 - Pensions - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jul. 02, 2016		Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
United States Pension Plan of US Entity [Member]
Service cost		[1]	$ 250		$ 500
Interest cost		[1]	1,031		2,062
Expected return on plan assets		[1]	(916)		(1,832)
Amortization of net loss		[1]	290		580
Total cost (credit) of the plan		[1]	655		1,310
Net periodic benefit cost (credit)		[1]	655		1,310
Foreign Pension Plan [Member]
Service cost	333		315	665	630
Interest cost	496		513	993	1,026
Expected return on plan assets	(520)		(601)	(1,040)	(1,201)
Amortization of net loss	73		62	146	123
Total cost (credit) of the plan	382		289	764	578
Net periodic benefit cost (credit)	$ 382		$ 289	$ 764	$ 578
[1]	The U.S. pension plan was terminated effective July 30, 2014 and, following receipt of a favorable Letter of Determination from the IRS (dated April14, 2015), all liabilities of the plan were settled during the third quarter of fiscal 2015.

Note 12 - Segment and Geograp51

Note 12 - Segment and Geographic Information (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2016USD ($)	Jun. 27, 2015USD ($)	Jul. 02, 2016USD ($)	Jun. 27, 2015USD ($)
PolySwitch [Member]
Business Combination, Acquisition Related Costs, Legal and Integration Costs	$ 6,100		$ 12,300
Inventory Charge Related to Step-up in Cost Basis	6,900		6,900
DENMARK
Business Exit Costs	300		$ 1,900
Number of Operating Segments			3
Inventory Charge Related to Step-up in Cost Basis			$ 6,902
Charges for Transfer of Manufacturing Operations	700	$ 900	1,700	1,900
Restructuring Charges	$ 100	1,700	$ 400	2,900
Business Combination, Acquisition Related Costs		200		300
Termination of U.S. Pension Plan, Expense		$ 700		$ 1,300

Note 12 - Segment and Geograp52

Note 12 - Segment and Geographic Information - Business Unit Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jul. 02, 2016		Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
Electronics [Member]
Net sales		$ 132,170		$ 105,553	$ 230,966	$ 204,933
Depreciation and amortization		7,717		5,775	13,089	11,573
Operating income		25,259		22,167	47,675	40,832
Automotive [Member]
Net sales		111,370		85,918	203,303	169,989
Depreciation and amortization		4,988		3,303	8,254	6,639
Operating income		16,474		12,699	33,965	23,870
Industrial [Member]
Net sales		28,372		30,550	57,041	57,412
Depreciation and amortization		1,376		1,295	2,828	2,579
Operating income		2,028		4,709	3,701	7,439
Other Segments [Member]
Depreciation and amortization			[1]		937
Operating income	[2]	(14,059)		(3,404)	(23,211)	(6,422)
Net sales	[3]	271,912		222,021	491,310	432,334
Depreciation and amortization		14,081		10,373	25,108	20,791
Operating income		29,702		36,171	62,130	65,719
Interest expense		1,670		948	3,715	2,099
Foreign exchange (gain) loss		(6,237)		(1,292)	(2,414)	1,825
Other (income) expense, net		255		(1,202)	(262)	(2,328)
Income before income taxes		$ 34,014		$ 37,717	$ 61,091	$ 64,123
[1]	Consists of intangible impairments. (See Note 13).
[2]	Included in "Other" Operating income for the 2016 second quarter (and year-to-date) is $6.1 million ($12.3 million year-to-date) of acquisition-related costs primarily related to legal and integration costs associated with the company's acquisition of the PolySwitch business, a $6.9 million ($6.9 million year-to-date) inventory adjustment relating to the PolySwitch acquisition as described in footnote 3, $0.3 million ($1.9 million year-to-date) in charges related to the closure of the company's manufacturing facility in Denmark, $0.7 million ($1.7 million year-to-date) related to the company's transfer of its reed sensor manufacturing operations from the U.S. and China to the Philippines and $0.1 million ($0.4 million year-to-date) related to internal legal restructuring costs.
[3]	Sales by country represent sale to customer or distributor locations.

Note 12 - Segment and Geograp53

Note 12 - Segment and Geographic Information - Net Sales by Geographical Area (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 02, 2016	Jun. 27, 2015	Jul. 02, 2016	Jun. 27, 2015
UNITED STATES
Revenue, Net	[1]	$ 93,036	$ 89,608	$ 178,184	$ 172,981
CHINA
Revenue, Net	[1]	62,411	49,920	110,919	94,349
Other Countries [Member]
Revenue, Net	[1]	116,465	82,493	202,207	165,004
Revenue, Net	[1]	$ 271,912	$ 222,021	$ 491,310	$ 432,334
[1]	Sales by country represent sale to customer or distributor locations.

Note 12 - Segment and Geograp54

Note 12 - Segment and Geographic Information - Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands		6 Months Ended
		Jul. 02, 2016	Jun. 27, 2015	Jan. 02, 2016
UNITED STATES
Long-lived assets	[1]	$ 23,985		$ 23,965
Additions to long-lived assets		2,783	$ 6,615
CHINA
Long-lived assets	[1]	70,325		37,241
Additions to long-lived assets		3,847	4,080
CANADA
Long-lived assets	[1]	10,925		10,488
Additions to long-lived assets		137	878
Other Countries [Member]
Long-lived assets	[1]	119,275		90,874
Additions to long-lived assets		13,450	14,815
Long-lived assets	[1]	224,510		$ 162,568
Additions to long-lived assets		$ 20,217	$ 26,388
[1]	Long-lived assets consists of net property, plant and equipment.

Note 13 - Accumulated Other C55

Note 13 - Accumulated Other Comprehensive Income (Loss) (AOCI) (Details Textual) - USD ($)	Jul. 02, 2016	Jan. 02, 2016
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	$ 654,000	$ 661,000
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Tax	$ 0	$ 0

Note 13 - Accumulated Other C56

Note 13 - Accumulated Other Comprehensive Income (Loss) (AOCI) - Components of Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	6 Months Ended
	Jul. 02, 2016USD ($)
Pension and postemployment liability and reclassification adjustments(a)	$ (8,722)	[1]
Pension and postemployment liability and reclassification adjustments(a)	(45)	[1]
Pension and postemployment liability and reclassification adjustments(a)	144	[1]
Pension and postemployment liability and reclassification adjustments(a)	(8,623)	[1]
Unrealized gain on investments(b)	11,584	[2]
Unrealized gain on investments(b)	(1,486)	[2]
Unrealized gain on investments(b)	10,098	[2]
Foreign currency translation adjustment	(48,533)
Foreign currency translation adjustment	(3,180)
Foreign currency translation adjustment	(51,713)
AOCI (loss) income	(45,671)
AOCI (loss) income	(4,711)
AOCI (loss) income	$ (50,238)
[1]	Balances are net of tax of $654 and $661 for July 2, 2016 and January 2, 2016, respectively.
[2]	Balances are net of tax of $0 and $0 for July 2, 2016 and January 2, 2016, respectively.

Note 14 - Product Line Sale (De

Note 14 - Product Line Sale (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Apr. 02, 2016	Jul. 02, 2016	Jun. 27, 2015
Cost of Sales [Member]
Gain (Loss) on Sale of Assets and Asset Impairment Charges	$ (400)
Selling, General and Administrative Expenses [Member]
Gain (Loss) on Sale of Assets and Asset Impairment Charges	(100)
Research and Development Expense [Member]
Gain (Loss) on Sale of Assets and Asset Impairment Charges	(100)
Amortization of Intangibles Assets [Member]
Gain (Loss) on Sale of Assets and Asset Impairment Charges	(900)
Gain (Loss) on Sale of Assets and Asset Impairment Charges	$ (1,400)	$ (1,391)