Littelfuse (LFUS) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 01, 2016	Oct. 28, 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)		22,532,130
Document Type	10-Q
Document Period End Date	Oct. 1, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Oct. 01, 2016	Jan. 02, 2016
Current assets:
Cash and cash equivalents	$ 194,494	$ 328,786
Short-term investments	3,961	4,179
Accounts receivable, less allowances	205,211	142,882
Inventories	121,616	98,629
Prepaid income taxes and income taxes receivable	14,344	1,510
Prepaid expenses and other current assets	15,543	7,943
Total current assets	555,169	583,929
Property, plant and equipment:
Land	10,044	5,236
Buildings	83,441	71,383
Equipment	439,430	382,429
	532,915	459,048
Accumulated depreciation	(309,062)	(296,480)
Net property, plant and equipment	223,853	162,568
Intangible assets, net of amortization:
Patented and unpatented technologies, licenses and software	88,322	20,221
Distribution network	19,566	16,490
Customer lists, trademarks and tradenames	116,684	54,912
Goodwill	409,527	189,767
Investments	14,974	15,197
Deferred income taxes	17,151	8,333
Other assets	12,857	14,058
Total assets	1,458,103	1,065,475
Liabilities and Equity
Accounts payable	81,382	51,658
Accrued payroll	39,517	32,611
Accrued expenses	48,713	24,145
Accrued severance	3,420	3,798
Accrued income taxes	8,622	11,836
Current portion of long-term debt	6,250	87,000
Total current liabilities	187,904	211,048
Long-term debt, less current portion	434,206	83,753
Deferred income taxes	(7,345)	(8,014)
Accrued post-retirement benefits	6,235	5,653
Other long-term liabilities	19,037	17,755
Total equity	803,376	739,252
Total liabilities and equity	$ 1,458,103	$ 1,065,475

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares	Oct. 01, 2016	Jan. 02, 2016
Common shares issued (in shares)	22,643,816	22,420,785
Common shares oustanding (in shares)	22,643,816	22,420,785

Consolidated Statements of Net

Consolidated Statements of Net Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Revenue, Net	[1]	$ 280,331	$ 215,510	$ 771,641	$ 647,844
Cost of sales		166,572	129,328	472,861	400,051
Gross profit		113,759	86,182	298,780	247,793
Selling, general and administrative expenses		56,589	37,002	150,047	112,119
Research and development expenses		10,403	7,479	30,884	22,224
Pension settlement expense			30,194		30,194
Amortization of intangibles		4,432	2,923	13,384	8,952
Impairment of goodwill and intangible assets		14,809		14,809
		86,233	77,598	209,124	173,490
Operating income		27,526	8,584	89,656	74,303
Interest expense		2,571	922	6,286	3,021
Foreign exchange (gain) loss		(4,700)	(3,549)	(7,114)	(1,724)
Other (income) expense, net		(778)	(1,430)	(1,040)	(3,758)
Income before income taxes		30,433	12,641	91,524	76,764
Income taxes		(369)	1,317	14,281	16,761
Net income		$ 30,802	$ 11,324	$ 77,243	$ 60,003
Net income per share (see Note 10):
Basic (in dollars per share)		$ 1.36	$ 0.50	$ 3.43	$ 2.65
Diluted (in dollars per share)		$ 1.35	$ 0.50	$ 3.41	$ 2.64
Weighted average shares and equivalent shares outstanding:
Basic (in shares)		22,578	22,581	22,515	22,623
Diluted (in shares)		22,734	22,693	22,675	22,771
Cash dividends paid per common share (in dollars per share)		$ 0.33	$ 0.29	$ 0.91	$ 0.79
[1]	Sales by country represent sales to customer or distributor locations.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Net income	$ 30,802	$ 11,324	$ 77,243	$ 60,003
Other comprehensive income (loss):
Pension liability adjustments (net of tax of $30 and $7 for the three months ended 2016 and 2015, and $395 and $49 for the nine months ended 2016 and 2015, respectively)	(138)	(16)	(183)	(140)
Reclassification adjustments to expense, (net of tax of $0 and $1,244, for the three months ended 2016 and 2015, and $0 and $746 for the nine months ended 2016 and 2015, respectively)	68	(514)	212	1,457
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
Unrealized (loss) gain on investments	927	(3,354)	(559)	(18)
Foreign currency translation adjustments	(5,771)	(26,377)	(8,951)	(36,530)
Comprehensive income	$ 25,888	$ 2,187	$ 67,762	$ 45,896

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Pension liability adjustments, tax	$ 30,000	$ 7,000	$ 395,000	$ 49,000
Reclassification liability adjustment, tax	$ 0	1,244,000	$ 0	746,000
Pension settlement adjustment, tax		$ 11,742,000		$ 11,742,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2016	Sep. 26, 2015
Operating activities:
Net income	$ 77,243	$ 60,003
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	24,841	22,154
Amortization of intangibles	13,384	8,952
Impairment of goodwill and intangible assets	14,809
Loss on sale of product line	1,391
Stock-based compensation	9,166	7,997
Inventory Charge Related to Step-up in Cost Basis	7,456
Net loss on pension settlement, net of tax		19,472
Excess tax benefit on share-based compensation	(2,272)	(1,500)
Loss on sale of property, plant and equipment	440	308
Accounts receivable	(24,862)	(18,274)
Inventories	4,505	(4,203)
Accounts payable	7,845	4,216
Accrued expenses (including post-retirement)	6,497	6,577
Accrued payroll and severance	1,388	3,598
Accrued taxes	(23,613)	4,006
Prepaid expenses and other	(18,203)	277
Net cash provided by operating activities	100,015	113,583
Investing activities:
Purchases of property, plant, and equipment	(34,501)	(35,016)
Acquisition of businesses, net of cash acquired	(468,636)
Proceeds from maturities of short term investments	345
Decrease in entrusted loan receivable	4,056	5,930
Proceeds from sale of assets	255	38
Net cash used in investing activities	(498,481)	(29,048)
Financing activities:
Proceeds of revolving credit facility	258,000	49,000
Proceeds of term loan	234,000
Payments of revolving credit facility	(97,500)	(25,000)
Payments of term loan	(119,125)	(3,750)
Payments of entrusted loan	(4,056)	(5,930)
Debt issuance costs	(1,701)	(42)
Cash dividends paid	(20,405)	(17,864)
Proceeds from exercise of stock options	14,581	6,186
Excess tax benefit on share-based compensation	2,272	1,500
Purchases of common stock	(3,685)	(31,252)
Net cash (used in) provided by financing activities	262,381	(27,152)
Effect of exchange rate changes on cash and cash equivalents	1,793	(18,314)
Increase (decrease) in cash and cash equivalents	(134,292)	39,069
Cash and cash equivalents at beginning of period	328,786	297,571
Cash and cash equivalents at end of period	$ 194,494	$ 336,640

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Oct. 01, 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 and nine months ended October 1, 2016 include the operating results of PolySwitch business purchased from TE Connectivity Ltd and the TVS Diode/Thyristor/IGBT business purchased from ON Semiconductor Corporation since the acquisition dates of these businesses of March 25, 2016 and August 29, 2016, respectively.

Note 2 - Correction of Immateri

Note 2 - Correction of Immaterial Errors	9 Months Ended
	Oct. 01, 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 $0.1 million, respectively. Pursuant to the guidance of Staff Accounting Bulletin ("SAB") No. 99, Materiality, the company concluded that the errors were not material to any of its applicable prior period annual and quarterly financial statements. Although the errors were immaterial to prior periods, the prior period annual and interim financial statements were revised, in accordance with SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, due to the significance of the out-of-period correction. The adjustment for each year has been treated as applicable to the fourth quarter of each year. A reconciliation of the effects of the adjustments to the previously reported balance sheet at January 2, 2016 follows ($ in thousands): January 2, 2016 Previously Reported Adjustment As Revised Other long-term liabilities $ 12,809 $ 4,946 $ 17,755 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, 2016 Year Ended December 27, 2014 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, 2016 Year Ended December 27, 2014 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, 2016 Year Ended December 27, 2014 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	9 Months Ended
	Oct. 01, 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 Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“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 shareholders’ equity. Additionally, the company has reclassified a portion of its current tax position at January 2, 2016 to more accurately reflect its prepaid/liability position at a jurisdictional level.

Note 4 - Acquisition of Busines

Note 4 - Acquisition of Businesses	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	4 . Acquisition of Businesses TVS Diode/Thyristor/IGBT business On August 29, 2016, the company acquired certain assets of select businesses (the “TVS Diode/Thyristor/IGBT business”) of ON Semiconductor Corporation for $104.0 million. The company funded the acquisition with available cash and proceeds from its credit facility . The acquired business, which is included in the Electronics segment, consists of a product portfolio that includes transient voltage suppression (TVS) diodes, switching thyristors and insulated gate bipolar transistors (IGBT) for automotive ignition applications. The acquisition expands the company’s offerings in power semiconductor applications as well as increases its presence in the automotive electronics market. The TVS Diode/Thyristor/IGBT business products have strong synergies with the company’s existing circuit protection business, will strengthen its channel partnerships and customer engagement, and expand its power semiconductor portfolio. The following table represents the preliminary allocation of the total consideration to assets acquired and liabilities assumed in the acquisition of the TVS Diode/Thyristor/IGBT business based on the company’s preliminary estimate of their respective fair values at the acquisition date (in thousands): Total purchase consideration: Cash $ 104,000 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net 4,616 Customer relationships 31,650 Patented and unpatented technologies 10,250 Non-compete agreement 2,500 Goodwill 54,984 $ 104,000 All the TVS Diode/Thyristor/IGBT business goodwill and other assets were recorded in the Electronics segment and are reflected in the Americas and Europe geographic areas. The customer relationships are preliminarily being amortized over 13.5 years. The patented and unpatented technologies are preliminarily being amortized over 6-8.5 years. The non-compete agreement is preliminarily being amortized over 4 years. The goodwill resulting from this acquisition consists largely of the company’s expected future product sales and synergies from combining the TVS Diode/Thyristor/IGBT business products with the company’s existing power semiconductor product portfolio. A portion of goodwill for the above acquisition is expected to be deductible for tax purposes. As required by purchase accounting rules, the company recorded a $0.5 million step-up of inventory to its fair value as of the acquisition date based on the preliminary valuation. $0.3 million of the step-up was amortized as a non-cash charge to cost of goods sold during the third 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 and nine months ended October 1, 2016 are net sales of approximately $5.6 million and $5.6 million, respectively, since the August 29, 2016 acquisition of the TVS Diode/Thyristor/IGBT business . Menber’s On April 4, 2016, the company completed the acquisition of Menber’s S.p.A. (“Menber’s”) headquartered in Legnago, Italy for $19.2 million, net of acquired cash and after settlement of a working capital adjustment. At October 1, 2016, $18.9 million of the $19.2 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 and specializes in the design, manufacturing and selling of manual and electrical high current 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, net of acquired cash $ 18,909 Additional consideration payable 253 Total purchase consideration $ 19,162 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 13,560 Property, plant and equipment 1,693 Customer relationships 3,050 Patented and unpatented technologies 224 Trademarks and tradenames 1,849 Goodwill 7,651 Current liabilities (7,421 ) Other non-current liabilities (1,444 ) $ 19,162 All Menber’s goodwill and other assets and liabilities were recorded in the Automotive segment and reflected in the Europe geographic 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. As required by purchase accounting rules, the company recorded a $0.2 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 third quarter of 2016 with the charge reflected as other non-segment costs. Included in the company’s consolidated statements of net income for the three and nine months ended October 1, 2016 are net sales of approximately $5.3 million and $12.0 million, respectively, since the April 4, 2016 acquisition of Menber’s. PolySwitch On March 25, 2016, the company acquired 100% of the circuit protection business (“PolySwitch”) of TE Connectivity Ltd. for $348.0 million, net of acquired cash and after settlement of certain post-closing adjustments. At October 1, 2016, $342.3 million of the $348.0 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 by the 2 nd 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: Original consideration $ 350,000 Post closing consideration adjustment received (2,029 ) Acquired cash (5,719 ) Acquired cash to be returned to seller 5,719 Total purchase consideration $ 347,971 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 59,751 Property, plant and equipment 52,025 Land lease 4,290 Patented and unpatented technologies 56,425 Customer relationships 39,720 Goodwill 163,635 Other long-term assets 10,711 Current liabilities (37,068 ) Other non-current liabilities (1,518 ) $ 347,971 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 and nine months ended October 1, 2016 are net sales of approximately $47.9 million and $84.4 million, respectively, since the March 25, 2016 acquisition of PolySwitch. 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. 0 million paid in the first nine 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 $0.9 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 and diesel fuel heaters 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 $ 5,788 Estimated additional consideration payable 901 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 geographic 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 the acquired PolySwitch and the TVS Diode/Thyristor/IGBT businesses as though the acquisitions 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 or TVS Diode/Thyristor/IGBT acquisitions occurred as of December 28, 2014 or of future consolidated operating results . For the Three Months Ended For the Nine Months Ended (in thousands, except per share amounts) October 1 , 201 6 September 26 , 201 5 October 1 , 201 6 September 26 , 201 5 Net sales $ 290,377 $ 278,093 $ 846,127 $ 834,372 Income before income taxes 32,728 17,823 110,853 88,124 Net income 33,086 6,324 96,713 69,110 Net income per share — basic 1.47 0.28 4.30 3.05 Net income per share — diluted 1.46 0.28 4.26 3.04 The historical PolySwitch and TVS Diode/Thyristor/IGBT business results for the three and nine months ended October 1, 2016 and September 26, 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. Income tax expense for the historical TVS Diode/Thyristor/IGBT business was not provided on a standalone basis.

Note 5 - Impairment of Goodwill

Note 5 - Impairment of Goodwill and Intangible Assets	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	5 . Impairment of Goodwill and Intangible Assets The company annually tests goodwill for impairment during its fiscal fourth quarter or at an interim date if there is an event or change in circumstances that indicates the asset may be impaired. As of the most recent annual test conducted, the company concluded the fair value of its custom products reporting unit exceeded its carrying value of invested capital by 12% and therefore, no potential goodwill impairment existed in 2015. Due to recent negative events in the potash market subsequent to the company’s 2016 second quarter end, the company conducted a step one goodwill impairment analysis for the custom products reporting unit to determine if goodwill was impaired as of July 2, 2016. The fair value of this reporting unit at this date exceeded its carrying value by less than 10%. Since then, the potash market has continued to see a decline in market pricing in the potash mining industry. Due to this continuing decline in potash pricing , management revisited its long term projections during the company’s third quarter 2016 and conducted another step one goodwill impairment analysis. The custom products reporting unit failed the step one test and management conducted a step two analysis with the revised projections. The fair value of the unit was estimated using the expected present value of future cash flows over a seven year forecast period and appraisal of certain assets. This analysis required a write down of the reporting unit’s carrying value of $14.8 million. A goodwill impairment loss of $8.8 million and intangible assets impairments aggregating $6.0 million were recognized during the third quarter, including a $3.8 million reduction of the custom products trade names to a $0.7 million remaining value and a $2.2 million reduction of the reporting unit’s customer relationships to zero value.

Note 6 - Inventories

Note 6 - Inventories	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	6 . Inventories The components of inventories at October 1, 2016 and January 2, 2016 are as follows (in thousands): October 1 , 2016 January 2, 2016 Raw material $ 35,450 $ 33,599 Work in process 24,703 16,479 Finished goods 61,463 48,551 Total inventories $ 121,616 $ 98,629

Note 7 - Investments

Note 7 - Investments	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Cost and Equity Method Investments Disclosure [Text Block]	7 . 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 €10.2 million (approximately $11.5 million) at October 1, 2016 and €10.7 million (approximately $11.7 million) at January 2, 2016. Included in 2016 other comprehensive income is an unrealized loss of $0.6 million, due to the decrease in fair market value of the Polytronics investment. The remaining change 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 carrying value of the Monolith investment was $3.5 million at October 1, 2016 and January 2, 2016.

Note 8 - Debt

Note 8 - Debt	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	8 . Debt The carrying amounts of debt at October 1, 2016 and January 2, 2016 are as follows (in thousands): October 1 , 2016 January 2, 2016 Revolving credit facility $ 315,500 $ 77,000 Term loan 121,875 85,000 Entrusted loan 5,173 9,474 Unamortized debt issuance costs (2,092 ) (721 ) Total debt 440,456 170,753 Less: Current maturities (6,250 ) (87,000 ) Total long-term debt $ 434,206 $ 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 October 1, 2016, the company had $0.1 million outstanding in letters of credit and had available $259.4 million of borrowing capacity under the revolving credit facility at an interest rate of LIBOR plus 1.5% (2 .03% as of October 1, 2016). At October 1, 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 34.5 million (approximately $5.2 million) at October 1, 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 9 - Fair Value of Assets a

Note 9 - Fair Value of Assets and Liabilities	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9 . 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 7. Equity securities listed on a national market or exchange, such as Polytronics securities, 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 7 for which the value of the $3.5 million represents the cost of the investment. There were no changes during the quarter ended October 1, 2016 to the company’s valuation techniques used to measure asset and liability fair values on a recurring basis. As of October 1, 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 October 1, 2016 (in thousands): Fair Value Measurements Using Quoted Prices in (Level 1) Significant (Level 2) Significant (Level 3) Total Investment in Polytronics $ 11,474 $ — $ — $ 11,474 Total $ 11,474 $ — $ — $ 11,474 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 October 1, 2016 and January 2, 2016, respectively, as the variable interest rates fluctuate along with market interest rates.

Note 10 - Earnings Per Share

Note 10 - Earnings Per Share	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	10 . Earnings per Share The following table sets forth the computation of basic and diluted earnings per share for the periods ending October 1, 2016 and September 26, 2015 (in thousands, except per share amounts): For the Three Months Ended For the Nine Months Ended October 1 , 201 6 September 26, 2015 October 1 , 201 6 September 26, 2015 Net income $ 30.802 $ 11,324 $ 77,243 $ 60,003 Average shares outstanding - Basic 22,578 22,581 22,515 22,623 Net effect of dilutive stock options and restricted share units 156 112 160 148 Average shares - Diluted 22,734 22,693 22,675 22,771 Net income per share: Basic $ 1.36 $ 0.50 $ 3.43 $ 2.65 Diluted $ 1.35 $ 0.50 $ 3.41 $ 2.64 Potential shares of common stock relating to stock options excluded from the earnings per share calculation because their effect would be anti-dilutive were 76,845 and 144,031 for the three months ended October 1, 2016 and September 26, 2015, respectively, and 45,591 and 108,193 for the nine months ended October 1, 2016 and September 26, 2015, respectively.

Note 11 - Income Taxes

Note 11 - Income Taxes	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11 . Income Taxes The effective tax rate for the third quarter of 2016 was negative 1.2% compared to an effective tax rate of 10.4% in the third quarter of 2015. The effective tax rate for the nine months ended October 1, 2016 was 15.6% compared to an effective tax rate of 21.8% for the nine months ended September 26, 2015. The effective tax rates for the periods presented are lower than the U.S. statutory tax rate primarily due to income earned in lower tax jurisdictions and, with respect to the 2016 periods, a one-time deduction with respect to the stock of one of the company’s affiliates partially offset by the impact of the impairment of goodwill for which no tax benefit was recorded, and, with respect to the 2015 periods, the impact of a pension settlement partially offset by the impact from the restructuring of the legal ownership of the company’s Mexican manufacturing operations.

Note 12 - Pensions

Note 12 - Pensions	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	1 2. Pensions The components of net periodic benefit cost for the three and nine months ended October 1, 2016, compared with the three and nine months ended September 26, 2015, were (in thousands): U.S. Pension Benefits Foreign Plans Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 Service cost $ - $ 250 $ - $ 750 $ 332 $ 314 $ 997 $ 944 Interest cost - 1,032 - 3,094 496 512 1,489 1,538 Expected return on plan assets - (917 ) - (2,749 ) (520 ) (599 ) (1,560 ) (1,800 ) Amortization of net loss - 290 - 870 74 62 220 185 Total cost (credit) of the plan - 655 - 1,965 382 289 1,146 867 Expected plan participants’ contribution - - - - - - - - Net periodic benefit cost (credit) - 655 - 1,965 382 289 1,146 867 Settlement charge - 30,194 - 30,194 - - - - Total pension cost (credit) $ - $ 30,849 $ - $ 32,159 $ 382 $ 289 $ 1,146 $ 867 * 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 13 - Segment and Geographi

Note 13 - Segment and Geographic Information	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 3 . 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 nine months ended October 1, 2016 and September 26, 2015 are summarized as follows (in thousands): For the Three Months Ended For the Nine Months Ended October 1 , 201 6 September 26, 2015 October 1, 2016 September 26, 2015 Net sales Electronics $ 147,730 $ 102,616 $ 378,696 $ 307,549 Automotive 106,341 81,475 309,644 251,464 Industrial 26,260 31,419 83,301 88,831 Total net sales $ 280,331 $ 215,510 $ 771,641 $ 647,844 Depreciation and amortization Electronics $ 7,694 $ 5,811 $ 20,783 $ 17,384 Automotive 4,627 3,244 12,881 9,883 Industrial 1,733 1,260 4,561 3,839 Other (1) (937 ) - - - Total depreciation and amortization $ 13,117 $ 10,315 $ 38,225 $ 31,106 Operating income (loss) Electronics $ 34,571 $ 20,923 $ 82,246 $ 61,755 Automotive 15,032 15,253 48,997 39,123 Industrial 57 5,781 3,758 13,220 Other (2 ) (22,134 ) (33,373 ) (45,345 ) (39,795 ) Total operating income 27,526 8,584 89,656 74,303 Interest expense 2,571 922 6,286 3,021 Foreign exchange (gain) loss (4,700 ) (3,549 ) (7,114 ) (1,724 ) Other (income) expense, net (778 ) (1,430 ) (1,040 ) (3,758 ) Income before income taxes $ 30,433 $ 12,641 $ 91,524 $ 76,764 (2) Included in “Other” Operating income (loss) for the 2016 third quarter is $14.8 million (14.8 million year-to-date) of charges related to the impairment of the custom products reporting unit, $5.9 million ($18.2 million year-to-date) of acquisition and integration costs associated with the company’s 2016 acquisitions, primarily PolySwitch, $0.6 million ($7.5 million year-to-date) of non-cash inventory charges relating to the company’s 2016 acquisitions, primarily PolySwitch, as described in Note 4, $1.9 million year-to-date in charges related to the closure of the company’s manufacturing facility in Denmark, $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 $0.9 million ($1.3 million year-to-date) related to internal legal restructuring costs. Included in “Other” Operating income (loss) for the 2015 third quarter is $2.1 million ($6.8 million year-to-date) related to internal legal restructuring, $0.3 million ($0.7 million year-to-date) related to acquisition costs and $30.9 million ($32.2 million year-to-date) of expense related to the planned termination of the U.S. pension as described in Note 12 . The company’s significant net sales by country for the three and nine months ended October 1, 2016 and September 26, 2015 are summarized as follows (in thousands): For the Three Months Ended ( a ) For the Nine Months Ended ( a ) October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 United States $ 92,475 $ 85,049 $ 270,659 $ 258,030 China 70,215 49,345 181,134 143,694 Other countries 117,641 81,116 319,848 246,120 Total $ 280,331 $ 215,510 $ 771,641 $ 647,844 (a) Sales by country represent sales to customer or distributor locations. The company’s significant long-lived assets by country as of October 1, 2016 and January 2, 2016 are summarized as follows (in thousands): Long-lived assets (b) October 1 , January 2, 2016 United States $ 24,578 $ 23,965 China 67,003 37,241 Mexico 51,988 47,130 Philippines 34,511 33,525 Other countries 45,773 20,707 Total $ 223,853 $ 162,568 (b) Long-lived assets consist of net property, plant and equipment.

Note 14 - Accumulated Other Com

Note 14 - Accumulated Other Comprehensive Income (Loss) (AOCI)	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	1 4 . 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 October 1, 2016 Pension and post employment liability and reclassification adjustments (a) $ (8,722 ) $ (183 ) $ 212 $ (8,693 ) Unrealized gain on investments (b) 11,584 (559 ) — 11,025 Foreign currency translation adjustment (48,533 ) (8,951 ) — (57,484 ) AOCI (loss) income $ (45,671 ) $ (9,693 ) $ 212 $ (55,152 ) (a) Balances are net of tax of $661 and $1,056 for January 2, 2016 and October 1, 2016, respectively. (b) Balances are net of tax of $0 and $0 for January 2, 2016 and October 1, 2016, respectively.

Note 15 - Product Line Sale

Note 15 - Product Line Sale	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Asset Impairment Charges [Text Block]	1 5 . 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 a loss on sale of the product line of $1.4 million reflected within selling, general and administrative expenses for the nine months ended October 1, 2016. This loss was recognized as an “other” charge for segment reporting purposes.

Note 16 - Recently Issued Accou

Note 16 - Recently Issued Accounting Pronouncements	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	1 6 . Recently issued accounting pronouncements In May 2014, the FASB issued Accounting Standards Update No. 2014-09 ("ASU 2014-09"), Revenue from Contracts with Customers, which amends guidance for revenue recognition. Under the new standard, revenue will be recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. The standard creates a five-step model that will generally require companies to use more judgment and make more estimates than under current guidance when considering the terms of contracts along with all relevant facts and circumstances. These include the identification of customer contracts and separating performance obligations, the determination of transaction price that potentially includes an estimate of variable consideration, allocating the transaction price to each separate performance obligation, and recognizing revenue in line with the pattern of transfer. In August 2015, the FASB issued an No. 2015-14, "Deferral of Effective Date" (Topic 606) to defer the effective date for all entities by one year. The new standard will become effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted as of annual reporting periods beginning after December 15, 2016. Companies have the option of using either a full or modified retrospective approach in applying this standard. In March 2016, the FASB issued ASU No. 2016-08, "Principal versus Agent Considerations (Reporting Revenue Gross versus Net)" (Topic 606). ASU 2016-08 provides clarification for the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, ASU No. 2016-11, and ASU 2016-12, all of which provide additional clarification of the original revenue standard. The company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In July 2015, the FASB issued Accounting Standards Update No. 2015-11 ("ASU 2015-11"), Simplifying the Measurement of Inventory. ASU 2015-11 clarifies that inventory should be held at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling price, less the estimated costs to complete, dispose and transport such inventory. ASU 2015-11 will be effective for fiscal years and interim periods beginning after December 15, 2016. ASU 2015-11 is required to be applied prospectively and early adoption is permitted. The company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02 (“ASU 2016-02”), Leases (Topic 842). ASU 2016-02 establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for capital leases and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The company is currently in the process of evaluating the impact of adoption on its consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09 ("ASU 2016-09"), Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. ASU 2016-09 will directly impact the tax administration of equity plans. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted and any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The company is currently in the process of evaluating the impact of adoption on its consolidated financial statements.

Note 17 - Subsequent Event

Note 17 - Subsequent Event	9 Months Ended
	Oct. 01, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	1 7 . Subsequent Event On October 14 , 2016, the Company completed the sale of its portable electrical house (e-house) business, located in Winnipeg, Manitoba, Canada. This business was included in the company’s custom products reporting unit within the Industrial segment, and mainly served mining and utility markets. Neither the sale nor the historical results of operation of the sold business are material to the company’s financial results.

Note 2 - Correction of Immate25

Note 2 - Correction of Immaterial Errors (Tables)	9 Months Ended
	Oct. 01, 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, 2016 Year Ended December 27, 2014 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, 2016 Year Ended December 27, 2014 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, 2016 Year Ended December 27, 2014 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 Other long-term liabilities $ 12,809 $ 4,946 $ 17,755 Total equity 744,198 (4,946 ) 739,252

Note 4 - Acquisition of Busin26

Note 4 - Acquisition of Businesses (Tables)	9 Months Ended
	Oct. 01, 2016
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Total purchase consideration: Cash $ 104,000 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net 4,616 Customer relationships 31,650 Patented and unpatented technologies 10,250 Non-compete agreement 2,500 Goodwill 54,984 $ 104,000 Total purchase consideration: Cash, net of acquired cash $ 18,909 Additional consideration payable 253 Total purchase consideration $ 19,162 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 13,560 Property, plant and equipment 1,693 Customer relationships 3,050 Patented and unpatented technologies 224 Trademarks and tradenames 1,849 Goodwill 7,651 Current liabilities (7,421 ) Other non-current liabilities (1,444 ) $ 19,162 Total purchase consideration: Original consideration $ 350,000 Post closing consideration adjustment received (2,029 ) Acquired cash (5,719 ) Acquired cash to be returned to seller 5,719 Total purchase consideration $ 347,971 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 59,751 Property, plant and equipment 52,025 Land lease 4,290 Patented and unpatented technologies 56,425 Customer relationships 39,720 Goodwill 163,635 Other long-term assets 10,711 Current liabilities (37,068 ) Other non-current liabilities (1,518 ) $ 347,971 Total purchase consideration: Cash $ 5,788 Estimated additional consideration payable 901 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 Nine Months Ended (in thousands, except per share amounts) October 1 , 201 6 September 26 , 201 5 October 1 , 201 6 September 26 , 201 5 Net sales $ 290,377 $ 278,093 $ 846,127 $ 834,372 Income before income taxes 32,728 17,823 110,853 88,124 Net income 33,086 6,324 96,713 69,110 Net income per share — basic 1.47 0.28 4.30 3.05 Net income per share — diluted 1.46 0.28 4.26 3.04

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	9 Months Ended
	Oct. 01, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	October 1 , 2016 January 2, 2016 Raw material $ 35,450 $ 33,599 Work in process 24,703 16,479 Finished goods 61,463 48,551 Total inventories $ 121,616 $ 98,629

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	9 Months Ended
	Oct. 01, 2016
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	October 1 , 2016 January 2, 2016 Revolving credit facility $ 315,500 $ 77,000 Term loan 121,875 85,000 Entrusted loan 5,173 9,474 Unamortized debt issuance costs (2,092 ) (721 ) Total debt 440,456 170,753 Less: Current maturities (6,250 ) (87,000 ) Total long-term debt $ 434,206 $ 83,753

Note 9 - Fair Value of Assets29

Note 9 - Fair Value of Assets and Liabilities (Tables)	9 Months Ended
	Oct. 01, 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 $ 11,474 $ — $ — $ 11,474 Total $ 11,474 $ — $ — $ 11,474 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 10 - Earnings Per Share (T

Note 10 - Earnings Per Share (Tables)	9 Months Ended
	Oct. 01, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Nine Months Ended October 1 , 201 6 September 26, 2015 October 1 , 201 6 September 26, 2015 Net income $ 30.802 $ 11,324 $ 77,243 $ 60,003 Average shares outstanding - Basic 22,578 22,581 22,515 22,623 Net effect of dilutive stock options and restricted share units 156 112 160 148 Average shares - Diluted 22,734 22,693 22,675 22,771 Net income per share: Basic $ 1.36 $ 0.50 $ 3.43 $ 2.65 Diluted $ 1.35 $ 0.50 $ 3.41 $ 2.64

Note 12 - Pensions (Tables)

Note 12 - Pensions (Tables)	9 Months Ended
	Oct. 01, 2016
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 October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 Service cost $ - $ 250 $ - $ 750 $ 332 $ 314 $ 997 $ 944 Interest cost - 1,032 - 3,094 496 512 1,489 1,538 Expected return on plan assets - (917 ) - (2,749 ) (520 ) (599 ) (1,560 ) (1,800 ) Amortization of net loss - 290 - 870 74 62 220 185 Total cost (credit) of the plan - 655 - 1,965 382 289 1,146 867 Expected plan participants’ contribution - - - - - - - - Net periodic benefit cost (credit) - 655 - 1,965 382 289 1,146 867 Settlement charge - 30,194 - 30,194 - - - - Total pension cost (credit) $ - $ 30,849 $ - $ 32,159 $ 382 $ 289 $ 1,146 $ 867

Note 13 - Segment and Geograp32

Note 13 - Segment and Geographic Information (Tables)	9 Months Ended
	Oct. 01, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended For the Nine Months Ended October 1 , 201 6 September 26, 2015 October 1, 2016 September 26, 2015 Net sales Electronics $ 147,730 $ 102,616 $ 378,696 $ 307,549 Automotive 106,341 81,475 309,644 251,464 Industrial 26,260 31,419 83,301 88,831 Total net sales $ 280,331 $ 215,510 $ 771,641 $ 647,844 Depreciation and amortization Electronics $ 7,694 $ 5,811 $ 20,783 $ 17,384 Automotive 4,627 3,244 12,881 9,883 Industrial 1,733 1,260 4,561 3,839 Other (1) (937 ) - - - Total depreciation and amortization $ 13,117 $ 10,315 $ 38,225 $ 31,106 Operating income (loss) Electronics $ 34,571 $ 20,923 $ 82,246 $ 61,755 Automotive 15,032 15,253 48,997 39,123 Industrial 57 5,781 3,758 13,220 Other (2 ) (22,134 ) (33,373 ) (45,345 ) (39,795 ) Total operating income 27,526 8,584 89,656 74,303 Interest expense 2,571 922 6,286 3,021 Foreign exchange (gain) loss (4,700 ) (3,549 ) (7,114 ) (1,724 ) Other (income) expense, net (778 ) (1,430 ) (1,040 ) (3,758 ) Income before income taxes $ 30,433 $ 12,641 $ 91,524 $ 76,764
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 ) October 1, 2016 September 26, 2015 October 1, 2016 September 26, 2015 United States $ 92,475 $ 85,049 $ 270,659 $ 258,030 China 70,215 49,345 181,134 143,694 Other countries 117,641 81,116 319,848 246,120 Total $ 280,331 $ 215,510 $ 771,641 $ 647,844
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	Long-lived assets (b) October 1 , January 2, 2016 United States $ 24,578 $ 23,965 China 67,003 37,241 Mexico 51,988 47,130 Philippines 34,511 33,525 Other countries 45,773 20,707 Total $ 223,853 $ 162,568

Note 14 - Accumulated Other C33

Note 14 - Accumulated Other Comprehensive Income (Loss) (AOCI) (Tables)	9 Months Ended
	Oct. 01, 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 October 1, 2016 Pension and post employment liability and reclassification adjustments (a) $ (8,722 ) $ (183 ) $ 212 $ (8,693 ) Unrealized gain on investments (b) 11,584 (559 ) — 11,025 Foreign currency translation adjustment (48,533 ) (8,951 ) — (57,484 ) AOCI (loss) income $ (45,671 ) $ (9,693 ) $ 212 $ (55,152 )

Note 2 - Correction of Immate34

Note 2 - Correction of Immaterial Errors (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended					60 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 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)	$ (369)	$ 1,317	$ 14,281	$ 16,761	$ 26,082	$ 33,546

Note 2 - Correction of Immate35

Note 2 - Correction of Immaterial Errors - Effects of Adjustments to Correct Immaterial Errors, Balance Sheet (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Jan. 02, 2016	Dec. 27, 2014	Dec. 28, 2013
Scenario, Previously Reported [Member]
Other long-term liabilities		$ 12,809
Total equity		744,198	$ 727,665	$ 686,916
Restatement Adjustment [Member]
Other long-term liabilities		4,946
Total equity		(4,946)	(3,346)	(2,028)
Other long-term liabilities	$ 19,037	17,755
Total equity	$ 803,376	$ 739,252	$ 724,319	$ 684,888

Note 2 - Correction of Immate36

Note 2 - Correction of Immaterial Errors - Effects of Adjustments to Correct Immaterial Errors, Statements of Net Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended			12 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Oct. 01, 2016	Sep. 26, 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)	$ (369)	$ 1,317		$ 14,281	$ 16,761	$ 26,082	$ 33,546
Net income	$ 30,802	$ 11,324	$ 77,243	$ 77,243	$ 60,003	$ 80,866	$ 98,100
Net income per share - Basic (in dollars per share)	$ 1.36	$ 0.50		$ 3.43	$ 2.65	$ 3.58	$ 4.35
Net income per share - Diluted (in dollars per share)	$ 1.35	$ 0.50		$ 3.41	$ 2.64	$ 3.56	$ 4.32

Note 2 - Correction of Immate37

Note 2 - Correction of Immaterial Errors - Effects of Adjustments to Correct Immaterial Errors, Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Oct. 01, 2016	Sep. 26, 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	$ 77,243	$ 60,003	80,866	98,100
Accrued taxes	(23,613)	4,006	557	769
Net cash provided by operating activities	$ 100,015	$ 113,583	$ 165,826	$ 153,141

Note 2 - Correction of Immate38

Note 2 - Correction of Immaterial Errors - Effects of Adjustments to Correct Immaterial Errors, Statements of Equity (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Oct. 01, 2016	Sep. 26, 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	$ 77,243	$ 60,003	80,866	98,100
Comprehensive income			56,321	56,557
Total equity	$ 803,376		$ 739,252	$ 724,319	$ 684,888

Note 4 - Acquisition of Busin39

Note 4 - Acquisition of Businesses (Details Textual) - USD ($) $ in Thousands		Oct. 01, 2016	Aug. 29, 2016	Apr. 04, 2016	Mar. 25, 2016	Oct. 01, 2015	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
TVS Diode, Thyristor and IGBT Business [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			13 years 182 days
TVS Diode, Thyristor and IGBT Business [Member] | Patented and Unpatented Technologies [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life			6 years
TVS Diode, Thyristor and IGBT Business [Member] | Patented and Unpatented Technologies [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life			8 years 182 days
TVS Diode, Thyristor and IGBT Business [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life			4 years
TVS Diode, Thyristor and IGBT Business [Member]
Business Combination, Consideration Transferred			$ 104,000
Business Acquisition Inventory Stepup			500
Noncash Charges Related To Inventory Stepup			300
Revenue, Net							$ 5,600		$ 5,600
Payments to Acquire Businesses, Gross			$ 104,000
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]
Business Combination, Consideration Transferred				$ 19,162
Business Acquisition Inventory Stepup				200
Revenue, Net							5,300		12,000
Payments to Acquire Businesses, Gross		$ 18,900		$ 18,909
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]
Business Combination, Consideration Transferred					$ 347,971
Business Acquisition Inventory Stepup					6,900
Revenue, Net							47,900		84,400
Payments to Acquire Businesses, Gross					$ 342,300
Business Acquisition, Percentage of Voting Interests Acquired					100.00%
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						$ 5,788
Business Acquisition, Percentage of Voting Interests Acquired						100.00%
Payments to Acquire Businesses, Net of Cash Acquired						$ 6,700
Payments for Previous Acquisition									1,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 900					900		900
Revenue, Net	[1]						$ 280,331	$ 215,510	771,641	$ 647,844
Payments to Acquire Businesses, Net of Cash Acquired									$ (1,391)
[1]	Sales by country represent sales to customer or distributor locations.

Note 4 - Acquisition of Busin40

Note 4 - Acquisition of Businesses - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Aug. 29, 2016	Apr. 04, 2016	Mar. 25, 2016	Oct. 01, 2015	Jan. 02, 2016	Mar. 25, 2015
TVS Diode, Thyristor and IGBT Business [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill		$ 31,650
TVS Diode, Thyristor and IGBT Business [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill		10,250
TVS Diode, Thyristor and IGBT Business [Member] | Noncompete Agreements [Member]
Intangible assets, other than goodwill		2,500
TVS Diode, Thyristor and IGBT Business [Member]
Cash		104,000
Current assets, net		4,616
Goodwill		54,984
		104,000
Cash, net of acquired cash		104,000
Total purchase consideration		104,000
Current assets, net		$ 4,616
Menber's S.p.A. [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill			$ 3,050
Menber's S.p.A. [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill			224
Menber's S.p.A. [Member] | Trademarks and Trade Names [Member]
Intangible assets, other than goodwill			1,849
Menber's S.p.A. [Member]
Cash	$ 18,900		18,909
Current assets, net			13,560
Goodwill			7,651
			19,162
Cash, net of acquired cash	18,900		18,909
Additional consideration payable			253
Total purchase consideration			19,162
Property, plant and equipment			1,693
Current liabilities			(7,421)
Other non-current liabilities			(1,444)
Acquired cash to be returned to seller			253
Current assets, net			13,560
Other non-current liabilities			$ (1,444)
PolySwitch [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill				$ 39,720
PolySwitch [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill				56,425
PolySwitch [Member]
Cash				342,300
Current assets, net				59,751
Goodwill				163,635
				347,971
Cash, net of acquired cash				342,300
Additional consideration payable				5,719
Total purchase consideration				347,971
Property, plant and equipment				52,025
Current liabilities				(37,068)
Other non-current liabilities				(1,518)
Original consideration				350,000
Post closing consideration adjustment received				(2,029)
Acquired cash				(5,719)
Acquired cash to be returned to seller				5,719
Current assets, net				59,751
Land lease				4,290
Other long-term assets							$ 10,711
Other non-current liabilities				$ (1,518)
Sigmar [Member] | Patents [Member]
Intangible assets, other than goodwill					$ 2,845
Sigmar [Member]
Cash					5,788
Current assets, net					4,011
Goodwill					2,552
					6,689
Cash, net of acquired cash					5,788
Additional consideration payable					901
Total purchase consideration					6,689
Property, plant and equipment					1,097
Current liabilities					(1,478)
Other non-current liabilities					(2,568)
Acquired cash to be returned to seller					901
Current assets, net					4,011
Cash					230
Other non-current liabilities					$ (2,568)
Goodwill	$ 409,527					$ 189,767

Note 4 - Acquisition of Busin41

Note 4 - Acquisition of Businesses - Business Acquisition Pro Forma Information (Details) - PolySwitch [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Net sales	$ 290,377	$ 278,093	$ 846,127	$ 834,372
Income before income taxes	32,728	17,823	110,853	88,124
Net income	$ 33,086	$ 6,324	$ 96,713	$ 69,110
Net income per share — basic (in dollars per share)	$ 1.47	$ 0.28	$ 4.30	$ 3.05
Net income per share — diluted (in dollars per share)	$ 1.46	$ 0.28	$ 4.26	$ 3.04

Note 5 - Impairment of Goodwi42

Note 5 - Impairment of Goodwill and Intangible Assets (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015	Dec. 26, 2015	Jul. 02, 2016
Industrial [Member] | Custom Products Reporting Unit [Member] | Trade Names [Member]
Impairment of Intangible Assets (Excluding Goodwill)	$ 3,800,000
Intangible Assets, Net (Excluding Goodwill)	700,000		$ 700,000
Industrial [Member] | Custom Products Reporting Unit [Member] | Customer Relationships [Member]
Impairment of Intangible Assets (Excluding Goodwill)	2,200,000
Intangible Assets, Net (Excluding Goodwill)	0		0
Industrial [Member] | Custom Products Reporting Unit [Member]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount					12.00%	10.00%
Goodwill, Impairment Loss	8,800,000				$ 0
Goodwill and Intangible Asset Impairment	14,800,000
Impairment of Intangible Assets (Excluding Goodwill)	6,000,000
Goodwill and Intangible Asset Impairment	$ 14,809,000		$ 14,809,000

Note 6 - Inventories - Componen

Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Jan. 02, 2016
Raw material	$ 35,450	$ 33,599
Work in process	24,703	16,479
Finished goods	61,463	48,551
Total inventories	$ 121,616	$ 98,629

Note 7 - Investments (Details T

Note 7 - Investments (Details Textual) € in Millions, $ in Millions	9 Months Ended
	Oct. 01, 2016USD ($)	Oct. 01, 2016EUR (€)	Jan. 02, 2016USD ($)	Jan. 02, 2016EUR (€)
Monolith [Member]
Cost Method Investments, Fair Value Disclosure	$ 3.5		$ 3.5
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax	(0.6)
Cost Method Investments			$ 3.5
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			12.00%	12.00%
Polytronics [Member]
Marketable Securities, Equity Securities	$ 11.5	€ 10.2	$ 11.7	€ 10.7

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) $ in Thousands, ¥ in Millions	Oct. 01, 2016USD ($)	Jul. 02, 2016	Mar. 04, 2016USD ($)	Oct. 01, 2016USD ($)	Sep. 26, 2015USD ($)	Oct. 01, 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	2.03%	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	$ 259,400			$ 259,400
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	$ 5,200			$ 5,200		¥ 34.5
Loans Payable to Bank	121,875			121,875			$ 85,000
Entrusted Loan	$ 5,173			5,173			$ 9,474
Payments of Debt Issuance Costs				$ 1,701	$ 42

Note 8 - Debt - Carrying Amount

Note 8 - Debt - Carrying Amounts of Long-term Debt (Details) - USD ($) $ in Thousands	Oct. 01, 2016	Jan. 02, 2016
Revolving credit facility	$ 315,500	$ 77,000
Term loan	121,875	85,000
Entrusted loan	5,173	9,474
Unamortized debt issuance costs	(2,092)	(721)
Total debt	440,456	170,753
Less: Current maturities	6,250	87,000
Total long-term debt	$ 434,206	$ 83,753

Note 9 - Fair Value of Assets47

Note 9 - Fair Value of Assets and Liabilities (Details Textual) - USD ($) $ in Millions	Oct. 01, 2016	Jan. 02, 2016
Monolith [Member]
Cost Method Investments, Fair Value Disclosure	$ 3.5	$ 3.5

Note 9 - Fair Value of Assets48

Note 9 - Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - Polytronics [Member] - USD ($) $ in Thousands	Oct. 01, 2016	Jan. 02, 2016
Fair Value, Inputs, Level 1 [Member]
Investment in Polytronics	$ 11,474	$ 11,697
Total	11,474	11,697
Investment in Polytronics	11,474	11,697
Total	$ 11,474	$ 11,697

Note 10 - Earnings Per Share (D

Note 10 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	76,845	144,031	45,591	108,193

Note 10 - Earnings Per Share -

Note 10 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended			12 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Oct. 01, 2016	Sep. 26, 2015	Jan. 02, 2016	Dec. 27, 2014
Net income	$ 30,802	$ 11,324	$ 77,243	$ 77,243	$ 60,003	$ 80,866	$ 98,100
Basic (in shares)	22,578	22,581		22,515	22,623
Net effect of dilutive stock options and restricted share units (in shares)	156	112		160	148
Average shares - Diluted (in shares)	22,734	22,693		22,675	22,771
Net income per share (see Note 10):
Net income per share - Basic (in dollars per share)	$ 1.36	$ 0.50		$ 3.43	$ 2.65	$ 3.58	$ 4.35
Net income per share - Diluted (in dollars per share)	$ 1.35	$ 0.50		$ 3.41	$ 2.64	$ 3.56	$ 4.32

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
	Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Effective Income Tax Rate Reconciliation, Percent	(1.20%)	10.40%	15.60%	21.80%

Note 12 - Pensions (Details Tex

Note 12 - Pensions (Details Textual)	9 Months Ended	12 Months Ended
	Oct. 01, 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 12 - Pensions - Components

Note 12 - Pensions - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Oct. 01, 2016		Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
United States Pension Plan of US Entity [Member]
Service cost		[1]	$ 250		$ 750
Interest cost		[1]	1,032		3,094
Expected return on plan assets			(917)		(2,749)
Amortization of net loss		[1]	290		870
Total cost (credit) of the plan		[1]	655		1,965
Net periodic benefit cost (credit)		[1]	655		1,965
Pension settlement expense			30,194		30,194
Total pension cost (credit)			30,849		32,159
Foreign Pension Plan [Member]
Service cost	332		314	997	944
Interest cost	496		512	1,489	1,538
Expected return on plan assets	(520)		(599)	(1,560)	(1,800)
Amortization of net loss	74		62	220	185
Total cost (credit) of the plan	382		289	1,146	867
Net periodic benefit cost (credit)	382		289	1,146	867
Pension settlement expense
Total pension cost (credit)	382		289	1,146	867
Pension settlement expense			$ 30,194		$ 30,194
[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 13 - Segment and Geograp54

Note 13 - Segment and Geographic Information (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2016USD ($)	Sep. 26, 2015USD ($)	Oct. 01, 2016USD ($)	Sep. 26, 2015USD ($)
Custom Products Reporting Unit [Member]
Asset Impairment Charges	$ 14,800		$ 14,800
PolySwitch [Member]
Business Combination, Acquisition Related Costs	5,900		18,200
Inventory Charge Related to Step-up in Cost Basis	600		7,500
DENMARK
Business Exit Costs			1,900
Facility Relocation [Member]
Restructuring Charges			1,700
Internal Legal Restructuring Costs [Member]
Restructuring Charges	$ 900	$ 2,100	$ 1,300	$ 6,800
Number of Operating Segments			3
Business Combination, Acquisition Related Costs		300		700
Inventory Charge Related to Step-up in Cost Basis			$ 7,456
Termination of U.S. Pension Plan, Expense		$ 30,900		$ 32,200

Note 13 - Segment and Geograp55

Note 13 - Segment and Geographic Information - Business Unit Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Oct. 01, 2016		Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
Electronics [Member]
Net sales		$ 147,730		$ 102,616	$ 378,696	$ 307,549
Depreciation and amortization		7,694		5,811	20,783	17,384
Operating income		34,571		20,923	82,246	61,755
Automotive [Member]
Net sales		106,341		81,475	309,644	251,464
Depreciation and amortization		4,627		3,244	12,881	9,883
Operating income		15,032		15,253	48,997	39,123
Industrial [Member]
Net sales		26,260		31,419	83,301	88,831
Depreciation and amortization		1,733		1,260	4,561	3,839
Operating income		57		5,781	3,758	13,220
Other Segments [Member]
Depreciation and amortization		(937)	[1]
Operating income	[2]	(22,134)		(33,373)	(45,345)	(39,795)
Net sales	[3]	280,331		215,510	771,641	647,844
Depreciation and amortization		13,117		10,315	38,225	31,106
Operating income		27,526		8,584	89,656	74,303
Interest expense		2,571		922	6,286	3,021
Foreign exchange (gain) loss		(4,700)		(3,549)	(7,114)	(1,724)
Other (income) expense, net		(778)		(1,430)	(1,040)	(3,758)
Income before income taxes		$ 30,433		$ 12,641	$ 91,524	$ 76,764
[1]	Consists of intangible impairments related to its loss on sale of product line. (See Note 15).
[2]	Included in "Other" Operating income (loss) for the 2016 third quarter is $14.8 million (14.8 million year-to-date) of charges related to the impairment of the custom business unit, $5.9 million ($18.2 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 $0.6 million ($7.5 million year-to-date) inventory adjustment relating to the PolySwitch acquisition as described in Note 4, $1.9 million year-to-date in charges related to the closure of the company's manufacturing facility in Denmark, $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 $0.9 million ($1.3 million year-to-date) related to internal legal restructuring costs.
[3]	Sales by country represent sales to customer or distributor locations.

Note 13 - Segment and Geograp56

Note 13 - Segment and Geographic Information - Net Sales by Geographical Area (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Sep. 26, 2015
UNITED STATES
Net sales	[1]	$ 92,475	$ 85,049	$ 270,659	$ 258,030
CHINA
Net sales	[1]	70,215	49,345	181,134	143,694
Other Countries [Member]
Net sales	[1]	117,641	81,116	319,848	246,120
Net sales	[1]	$ 280,331	$ 215,510	$ 771,641	$ 647,844
[1]	Sales by country represent sales to customer or distributor locations.

Note 13 - Segment and Geograp57

Note 13 - Segment and Geographic Information - Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands		Oct. 01, 2016	Jan. 02, 2016
UNITED STATES
Long-lived assets	[1]	$ 24,578	$ 23,965
CHINA
Long-lived assets	[1]	67,003	37,241
MEXICO
Long-lived assets		51,988	47,130
PHILIPPINES
Long-lived assets		34,511	33,525
Other Countries [Member]
Long-lived assets	[1]	45,773	20,707
Long-lived assets	[1]	$ 223,853	$ 162,568
[1]	Long-lived assets consists of net property, plant and equipment.

Note 14 - Accumulated Other C58

Note 14 - Accumulated Other Comprehensive Income (Loss) (AOCI) (Details Textual) - USD ($)	Oct. 01, 2016	Jan. 02, 2016
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	$ 1,056,000	$ 661,000
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Tax	$ 0	$ 0

Note 14 - Accumulated Other C59

Note 14 - Accumulated Other Comprehensive Income (Loss) (AOCI) - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 01, 2016	Sep. 26, 2015	Oct. 01, 2016	Oct. 01, 2016		Sep. 26, 2015
Pension and post employment liability and reclassification adjustments(a)	[1]				$ (8,722)
Pension and post employment liability and reclassification adjustments(a)	[1]				(183)
Pension and post employment liability and reclassification adjustments(a)			$ 21,124		212	[1]	$ 21,124
Pension and post employment liability and reclassification adjustments(a)	[1]	(8,693)		(8,693)	(8,693)
Unrealized gain on investments(b)	[2]				11,584
Unrealized gain on investments(b)	[2]				(559)
Unrealized gain on investments(b)	[2]	11,025		11,025	11,025
Foreign currency translation adjustment					(48,533)
Foreign currency translation adjustment					(8,951)
Foreign currency translation adjustment		(57,484)		(57,484)	(57,484)
AOCI (loss) income					(45,671)
AOCI (loss) income					(9,693)
AOCI (loss) income		$ (55,152)		$ (55,152)	$ (55,152)
[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 15 - Product Line Sale (De

Note 15 - Product Line Sale (Details Textual) $ in Millions	9 Months Ended
	Oct. 01, 2016USD ($)
Gain (Loss) on Sale of Assets and Asset Impairment Charges	$ (1.4)