Littelfuse (LFUS) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Apr. 01, 2017	Apr. 28, 2017
Document Information [Line Items]
Entity Registrant Name	LITTELFUSE INC /DE
Entity Central Index Key	889,331
Trading Symbol	lfus
Current Fiscal Year End Date	--12-30
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)		22,692,713
Document Type	10-Q
Document Period End Date	Apr. 1, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 277,979	$ 275,124
Short-term investments	32	3,690
Accounts receivable, less allowances	212,586	198,095
Inventories	118,311	114,063
Prepaid income taxes	12,273	11,671
Prepaid expenses and other current assets	13,044	9,438
Total current assets	634,225	612,081
Property, plant, and equipment:
Land	9,645	9,268
Buildings	83,060	80,553
Equipment	453,450	439,542
Accumulated depreciation and amortization	(322,213)	(312,188)
Net property, plant, and equipment	223,942	217,175
Intangible assets, net of amortization:
Patents, licenses and software	88,147	83,607
Distribution network	18,713	18,995
Customer relationships, trademarks and tradenames	109,234	110,425
Goodwill	428,343	403,544
Investments	11,657	13,933
Deferred income taxes	19,530	20,585
Other assets	10,255	10,849
Total assets	1,544,046	1,491,194
Current liabilities:
Accounts payable	88,360	90,712
Accrued payroll	24,740	42,810
Accrued expenses	47,849	36,138
Accrued severance	1,146	2,785
Accrued income taxes	8,827	8,846
Current portion of long-term debt	6,250	6,250
Total current liabilities	177,172	187,541
Long-term debt, less current portion	464,273	447,892
Deferred income taxes	(8,539)	(7,066)
Accrued post-retirement benefits	13,926	13,398
Other long-term liabilities	24,375	20,366
Shareholders’ equity:
Common stock, par value $0.01 per share	228	228
Treasury stock, at cost	(36,842)	(36,510)
Additional paid-in capital	295,372	291,258
Accumulated other comprehensive income	(68,952)	(74,579)
Retained earnings	665,812	634,391
Littelfuse, Inc. shareholders’ equity	855,618	814,788
Non-controlling interest	143	143
Total equity	855,761	814,931
Total liabilities and equity	$ 1,544,046	$ 1,491,194

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Apr. 01, 2017	Dec. 31, 2016
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Consolidated Statements of Net

Consolidated Statements of Net Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Net sales	$ 285,441	$ 219,398
Cost of sales	171,791	132,243
Gross profit	113,650	87,155
Selling, general, and administrative expenses	46,703	42,366
Research and development expenses	12,151	8,565
Amortization of intangibles	5,944	3,796
Total operating expenses	64,798	54,727
Operating income	48,852	32,428
Interest expense	3,120	2,045
Foreign exchange (gain) loss	(1,557)	3,823
Other expense (income), net	(139)	(517)
Income before income taxes	47,428	27,077
Income taxes	8,537	7,788
Net income	$ 38,891	$ 19,289
Income per share:
Basic (in dollars per share)	$ 1.71	$ 0.86
Diluted (in dollars per share)	$ 1.69	$ 0.85
Weighted-average shares and equivalent shares outstanding:
Basic (in shares)	22,748	22,438
Diluted (in shares)	22,989	22,621

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Net income	$ 38,891	$ 19,289
Other comprehensive income (loss):
Pension and postemployment liability adjustments (net of tax of ($32) and ($25), respectively)	(181)	92
Pension and postemployment reclassification adjustments	(101)	73
Unrealized gain (loss) on investments	947	(1,234)
Foreign currency translation adjustments	4,962	11,755
Comprehensive income	$ 44,518	$ 29,975

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Pension and postemployment liability adjustments, tax	$ (32)	$ (25)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Operating activities
Net income	$ 38,891	$ 19,289
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	9,128	7,230
Amortization of intangibles	5,944	3,796
Provision for bad debts	351
Loss on sale of product line		1,391
Loss on sale of property, plant, and equipment	600	27
Stock-based compensation	3,583	2,204
Excess tax benefit on share-based compensation		(706)
Deferred income taxes	616
Accounts receivable	(11,267)	(10,413)
Inventories	(3,296)	(3,484)
Accounts payable	(3,295)	3,716
Accrued expenses (including post-retirement)	4,140	3,500
Accrued payroll and severance	(20,221)	(9,351)
Accrued taxes	(220)	(5,312)
Prepaid expenses and other	(2,011)	(2,395)
Net cash provided by operating activities	22,943	9,492
Investing activities
Acquisitions of businesses, net of cash acquired	(14,172)	(264,098)
Proceeds from maturities of short-term investments	3,739
Decrease in entrusted loan	655
Purchases of property, plant, and equipment	(12,377)	(9,139)
Proceeds from sale of property, plant, and equipment	57	18
Net cash used in investing activities	(22,098)	(273,219)
Financing activities:
Proceeds of revolving credit facility		258,000
Proceeds of term loan		125,000
Proceeds of senior notes payable	125,000
Payments of term loan	(1,563)	(85,000)
Payments of revolving credit facility	(112,500)	(90,500)
Proceeds from exercise of stock options	199	3,710
Payments of entrusted loan	(655)
Debt issuance costs	(71)	(1,700)
Cash dividends paid	(7,472)	(6,483)
Excess tax benefit on share-based compensation		706
Net cash provided by financing activities	2,938	203,733
Effect of exchange rate changes on cash and cash equivalents	(928)	4,072
Decrease in cash and cash equivalents	2,855	(55,922)
Cash and cash equivalents at beginning of period	275,124	328,786
Cash and cash equivalents at end of period	277,979	272,864
Supplemental disclosures of non-cash investing activities:
Fair value of commitment to purchase non-controlling interest of Monolith	$ 9,000

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies and Other Information	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Nature of Operations Littelfuse, Inc. and subsidiaries (the “Company”) design, manufacture, and sell circuit protection devices for use in the automotive, electronics, and industrial markets throughout the world. The Company is one Basis of Presentation The Company’s accompanying unaudited Consolidated Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information, the instructions to Form 10 10 10 December 31, 2016, In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal, recurring nature. Operating results for interim periods are not necessarily indicative of annual operating results. Goodwill and Indefinite-Lived Intangible Assets The Company annually tests goodwill and indefinite-lived intangible assets for impairment on the first fourth may five five Factors the Company considers important when performing the impairment tests, which could result in changes to its estimates, include underperformance relative to historical or projected future operating results and declines in acquisitions and trading multiples. Due to the diverse end user base and non-discretionary product demand, the Company does not believe its future operating results will vary significantly relative to its historical and projected future operating results. However, it is possible that impairment charges could be recognized for the relays reporting unit if there are declines in profitability or projected future operating results due to changes in volume, market pricing, cost, or the business environment. As of the most recent annual test conducted on October 2, 2016, 2016 $41.4 15%. April 1, 2017, Recently Adopted Accounting Standards In July 2015, 2015 11 330): December 15, 2016, January 1, 2017. first first In March 2016, 2016 09 718, December 15, 2016, January 1, 2017. $0.5 three April 1, 2017. Recently Issued Accounting Standards In May 2014, 2014 09, 606) 605, two one one August, 2015, 2015 14, 2014 09 December 15, 2017, December 15, 2016. may In February 2016, 2016 02, 842). twelve December 15, 2018, In January 2017, 2017 04, 350). 2 December 15, 2020, January 1, 2017. 2017.

Note 2 - Acquisitions

Note 2 - Acquisitions	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	2 . Acquisitions The Company accounts for acquisitions using the acquisition method in accordance with ASC 805, Monolith In December 2015, $3.5 12% $3.5 December 31, 2016. On February 28, 2017, 62% $15 $1.0 $10 June 30, 2019. The additional investment resulted in the Company gaining control of Monolith and was accounted for as a step-acquisition with the fair value of the original investment immediately before the acquisition estimated to be approximately $3.5 Commencing March 1, 2017, January 1, 2017, The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the Monolith acquisition: (in thousands) Purchase Price Allocation Total purchase consideration: Original investment $ 3,500 Cash, net of cash acquired 14,172 Fair value of commitment to purchase non-controlling interest 9,000 Total purchase consideration $ 26,672 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 891 Property, plant, and equipment 789 Patented and unpatented technologies 6,720 Non-compete agreement 140 Goodwill 20,641 Current liabilities (639 ) Other non-current liabilities (1,870 ) $ 26,672 All Monolith goodwill, other assets and liabilities were recorded in the Electronics segment and reflected in the United States geographic area. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining Monolith’s products and technology with the Company’s existing electronics product portfolio. Goodwill for the above acquisition is not expected to be deductible for tax purposes. ON Portfolio On August 29, 2016, $104.0 . 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 (“IGBTs”) 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 ON Portfolio products have strong synergies with the Company’s existing circuit protection business and will strengthen its channel partnerships and customer engagement. The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the ON Portfolio acquisition: (in thousands) Purcha se Price Allocation Total purchase consideration: Cash $ 104,000 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 4,816 Customer relationships 31,800 Patented and unpatented technologies 8,800 Non-compete agreement 2,500 Goodwill 56,084 $ 104,000 All the ON Portfolio 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 being amortized over 13.5 6 8.5 4 power semiconductor product portfolio. $7.3 As required by purchase accounting rules, the Company recorded a $0.7 2016, Menber’s On April 4, 2016, $19.2 The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the Menber’s acquisition: (in thousands) Purchase Price Allocation Total purchase consideration: Cash, net of acquired cash $ 19,162 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 12,919 Property, plant, and equipment 1,693 Customer relationships 3,050 Patented and unpatented technologies 224 Trademarks and tradenames 1,849 Goodwill 8,091 Current liabilities (7,220 ) 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 10 5 10 As required by purchase accounting rules, the Company recorded a $0.2 2016, PolySwitch On March 25, 2016, 100% $348.3 April 1, 2017, $344.5 $348.3 second 2017. 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 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 following table summarizes the purchase price allocation of the fair value of assets acquired and liabilities assumed in the PolySwitch acquisition: (in thousands) Purchase Price Allocation Total purchase consideration: Original consideration $ 350,000 Post closing consideration adjustment received (1,708 ) Acquired cash (3,810 ) Acquired cash to be returned to seller 3,810 Total purchase consideration $ 348,292 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 60,228 Property, plant, and equipment 51,613 Land lease 4,290 Patented and unpatented technologies 56,425 Customer relationships 39,720 Goodwill 165,088 Other long-term assets 11,228 Current liabilities (35,280 ) Other non-current liabilities (5,020 ) $ 348,292 All PolySwitch goodwill and other assets and liabilities were recorded in the Electronics and Automotive segments and reflected in all geographic areas. The customer relationships are being amortized over 15 10 $103.8 $61.3 $64.9 As required by purchase accounting rules, the Company recorded a $6.9 second 2016, 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 ON Portfolio businesses for the three April 2, 2016 January 3, 2016. January 3, 2016 (in thousands) Three Months Ended April 2, 2016 Net sales $ 268,775 Income before income taxes 34,081 Net income 27,508 Net income — basic 1.23 Net income — diluted 1.22 Pro forma results presented above primarily reflect: (i) incremental depreciation relating to fair value adjustments to property, plant, and equipment; (ii) amortization adjustments relating to fair value estimates of intangible assets; (iii) incremental interest expense on assumed indebtedness; and (iv) additional cost of goods sold relating to the capitalization of gross profit as part of purchase accounting recognized for purposes of the pro forma as if it was recognized during the Company’s first 2016.

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	3 . Inventories The components of inventories at April 1, 2017 December 31, 2016 (in thousands) April 1, 2017 December 31, 2 016 Raw materials $ 33,003 $ 32,231 Work in process 24,200 23,354 Finished goods 61,108 58,478 Total $ 118,311 $ 114,063

Note 4 - Debt

Note 4 - Debt	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	4 . Debt The carrying amounts of debt at April 1, 2017 December 31, 2016 (in thousands ) April 1, 2017 December 31, 2016 Revolving credit facility $ — $ 112,500 Term loan 118,750 120,313 Entrusted loan 2,903 3,522 Euro Senior Notes, Series A due 2023 125,616 122,313 Euro Senior Notes, Series B due 2028 101,996 99,314 USD Senior Notes, Series A due 2022 25,000 — USD Senior Notes, Series B due 2027 100,000 — Unamortized debt issuance costs (3,742 ) (3,820 ) Total debt 470,523 454,142 Less: Current maturities (6,250 ) (6,250 ) Total long-term debt $ 464,273 $ 447,892 Revolving Credit Facility / Term Loan On March 4, 2016, five $700.0 $575.0 $125.0 $150.0 $25.0 $1.6 March 31, 2018 $3.1 June 30, 2018 December 31, 2020 March 4, 2021. Outstanding borrowings under the credit agreement bear interest, at the Company’s option, at either LIBOR, fixed for interest periods of one, two, three six 1.00% 2.00%, 0.00% 1.00%, 0.15% 0.30%, 2.48% April 1, 2017. As of April 1, 2017, $0.1 $574.9 April 1, 2017, Senior Notes On December 8, 2016, €212 two December 8, 2016 €117 1.14% December 8, 2023, €95 1.83% December 8, 2028 June 8 December 8, June 8, 2017. On December 8, 2016, $125 two February 15, 2017, $25 3.03% February 15, 2022, $100 3.74% February 15, 2027 February 15 August 15, August 15, 2017. The Senior Notes have not been registered under the Securities Act, or applicable state securities laws. The Senior Notes are general unsecured senior obligations and rank equal in right of payment with all existing and future unsecured unsubordinated indebtedness of the Company. The Senior Notes are subject to certain customary covenants, including limitations on the Company’s ability, with certain exceptions, to engage in mergers, consolidations, asset sales and transactions with affiliates, to engage in any business that would substantially change the general business of the Company, and to incur liens. In addition, the Company is required to satisfy certain financial covenants and tests relating to, among other matters, interest coverage and leverage. At April 1, 2017, The Company may Entrusted Loan During 2014, Chinese renminbi 110.0 $17.9 two two third 5.25%. November 2019. Chinese renminbi 20.0 $2.9 April 1, 2017.

Note 5 - Fair Value of Assets a

Note 5 - Fair Value of Assets and Liabilities	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5 . Fair Value of Assets and Liabilities 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 Level 2—Valuations similar Level 3— Valuations based upon one Following is a description of the valuation methodologies used for instruments measured at fair value and their classification in the valuation hierarchy. Investments Investments in equity securities listed on a national market or exchange are valued at the last sales price and are classified within Level 1 There were no changes during the quarter ended April 1, 2017 April 1, 2017 December 31, 2016, The following table presents assets measured at fair value by classification within the fair value hierarchy as of April 1, 2017: Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Significant Total Investment in Polytronics $ 11,660 $ — $ — $ 11,660 The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 31, 2016: Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Significant Total Investment in Polytronics $ 10,435 $ — $ — $ 10,435 In addition to the methods and assumptions used for the financial instruments recorded at fair value as discussed above, the following methods and assumptions are used to estimate the fair value of other financial instruments that are not marked to market on a recurring basis. The Company’s other financial instruments include cash and cash equivalents, short-term investments, accounts receivable and its long-term debt. Due to their short-term maturity, the carrying amounts of cash and cash equivalents, short-term investments and accounts receivable approximate their fair values. The Company’s revolving and term loan debt facilities’ fair values approximate book value at April 1, 2017 December 31, 2016, The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series A and Series B and USD Senior Notes, Series A and Series B, as of April 1, 2017 December 31, 2016 April 1, 2017 December 31, 2016 (in thousands ) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Euro Senior Notes, Series A due 2023 $ 125,616 $ 125,251 $ 122,313 $ 122,586 Euro Senior Notes, Series B due 2028 101,996 101,037 99,314 99,230 USD Senior Notes, Series A due 2022 25,000 24,817 — — USD Senior Notes, Series B due 2027 100,000 99,208 — —

Note 6 - Benefit Plans

Note 6 - Benefit Plans	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	6 . Benefit Plans The Company has company-sponsored defined benefit pension plans covering employees in the U.K., Germany, the Philippines, China, Japan, and France. The amount of the retirement benefits provided under the plans is based on years of service and final average pay. The components of net periodic benefit cost for the three April 1, 2017 April 2, 2016 For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Components of net periodic benefit cost: Service cost $ 408 $ 332 Interest cost 360 497 Expected return on plan assets (476 ) (520 ) Amortization of prior service (credit) 84 73 Total cost of the plan 376 382 Expected plan participants’ contribution — — Net periodic benefit cost $ 376 $ 382 The expected return on pension assets is 4.5% 4.9% 2017 2016,

Note 7 - Shareholders' Equity

Note 7 - Shareholders' Equity	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	7. Accumulated Other Comprehensive Income (Loss) (“AOCI”): The following table sets forth the changes in the components of AOCI by component for the three April 1, 2017: (in thousands ) Pension and postretirement liability and reclassification adjustments (a) Unrealized gains on investments Foreign currency translation adjustment Accumulated other comprehensive income (loss) Balance at December 31, 2016 $ (11,983 ) $ 10,769 $ (73,365 ) $ (74,579 ) Activity in the period (282 ) 947 4,962 5,627 Balance at April 1, 2017 $ (12,265 ) $ 11,716 $ (68,403 ) $ (68,952 ) (a) The balances at April 1, 2017 December 31, 2016 $1.2 $1.1

Note 8 - Income Taxes

Note 8 - Income Taxes	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. The effective tax rate for the first 2017 18.0% 28.8% first 2016. first 2017 first 2016 first 2017 first 2016 first 2017 first 2016.

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	3 Months Ended
	Apr. 01, 2017
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: For the Three Months Ended (in thousands, except per share amounts ) April 1, 2017 April 2, 2016 Numerator: Net income as reported $ 38,891 $ 19,289 Denominator: Weighted average shares outstanding Basic 22,748 22,438 Effect of dilutive securities 241 183 Diluted 22,989 22,621 Earnings Per Share: Basic earnings per share $ 1.71 $ 0.86 Diluted earnings per share $ 1.69 $ 0.85 No potential shares of common stock attributable to stock options were excluded from the earnings per share calculation because their effect would be anti-dilutive for the three April 1, 2017 21,888 three April 2, 2016.

Note 10 - Segment Information

Note 10 - Segment Information	3 Months Ended
	Apr. 01, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 0 . Segment 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 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 one may ● Electronics Segment one ● Automotive Segment : ● Industrial Segment : Segment information is summarized as follows: For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Net sales Electronics $ 153,767 $ 98,796 Automotive 107,839 91,933 Industrial 23,835 28,669 Total net sales $ 285,441 $ 219,398 Depreciation and amortization Electronics $ 8,387 $ 5,372 Automotive 5,371 3,266 Industrial 1,314 1,451 Other — 937 Total depreciation and amortization $ 15,072 $ 11,026 Operating income (loss) Electronics $ 35,206 $ 22,416 Automotive 15,065 17,491 Industrial 106 1,673 Other (a) (1,525 ) (9,152 ) Total operating income 48,852 32,428 Interest expense 3,120 2,045 Foreign exchange loss (gain) (1,557 ) 3,823 Other expense (income), net (139 ) (517 ) Income before income taxes $ 47,428 $ 27,077 (a) For the first 2017, $1.5 2016 For the first 2016, $9.2 $1.4 $1.1 $0.3 $6.2 $1.6 $0.2 $0.9 $0.3 $0.2 The Company’s net sales by country are as follows: For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Net sales United States $ 86,658 $ 85,149 China 74,690 48,509 Other countries 124,093 85,740 Total net sales $ 285,441 $ 219,398 The Company’s long-lived assets by country, as of April 1, 2017 December 31, 2016, (in thousands ) April 1, 2017 December 31 , 2016 Long-lived assets United States $ 23,770 $ 23,731 China 65,073 65,345 Mexico 58,111 52,262 Philippines 32,615 33,345 Other countries 44,373 42,492 Total long-lived assets $ 223,942 $ 217,175 The Company’s additions to long-lived assets by country are as follows: For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Additions to long-lived assets United States $ 332 $ 1,618 China 2,341 1,046 Mexico 6,978 4,653 Philippines 855 1,101 Other countries 1,871 721 Total additions to long-lived assets $ 12,377 $ 9,139

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 01, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The Company’s accompanying unaudited Consolidated Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information, the instructions to Form 10 10 10 December 31, 2016, In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal, recurring nature. Operating results for interim periods are not necessarily indicative of annual operating results.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill and Indefinite-Lived Intangible Assets The Company annually tests goodwill and indefinite-lived intangible assets for impairment on the first fourth may five five Factors the Company considers important when performing the impairment tests, which could result in changes to its estimates, include underperformance relative to historical or projected future operating results and declines in acquisitions and trading multiples. Due to the diverse end user base and non-discretionary product demand, the Company does not believe its future operating results will vary significantly relative to its historical and projected future operating results. However, it is possible that impairment charges could be recognized for the relays reporting unit if there are declines in profitability or projected future operating results due to changes in volume, market pricing, cost, or the business environment. As of the most recent annual test conducted on October 2, 2016, 2016 $41.4 15%. April 1, 2017,
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In July 2015, 2015 11 330): December 15, 2016, January 1, 2017. first first In March 2016, 2016 09 718, December 15, 2016, January 1, 2017. $0.5 three April 1, 2017. Recently Issued Accounting Standards In May 2014, 2014 09, 606) 605, two one one August, 2015, 2015 14, 2014 09 December 15, 2017, December 15, 2016. may In February 2016, 2016 02, 842). twelve December 15, 2018, In January 2017, 2017 04, 350). 2 December 15, 2020, January 1, 2017. 2017.

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in thousands) Purchase Price Allocation Total purchase consideration: Original investment $ 3,500 Cash, net of cash acquired 14,172 Fair value of commitment to purchase non-controlling interest 9,000 Total purchase consideration $ 26,672 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 891 Property, plant, and equipment 789 Patented and unpatented technologies 6,720 Non-compete agreement 140 Goodwill 20,641 Current liabilities (639 ) Other non-current liabilities (1,870 ) $ 26,672 (in thousands) Purcha se Price Allocation Total purchase consideration: Cash $ 104,000 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 4,816 Customer relationships 31,800 Patented and unpatented technologies 8,800 Non-compete agreement 2,500 Goodwill 56,084 $ 104,000 (in thousands) Purchase Price Allocation Total purchase consideration: Cash, net of acquired cash $ 19,162 Preliminary allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 12,919 Property, plant, and equipment 1,693 Customer relationships 3,050 Patented and unpatented technologies 224 Trademarks and tradenames 1,849 Goodwill 8,091 Current liabilities (7,220 ) Other non-current liabilities (1,444 ) $ 19,162 (in thousands) Purchase Price Allocation Total purchase consideration: Original consideration $ 350,000 Post closing consideration adjustment received (1,708 ) Acquired cash (3,810 ) Acquired cash to be returned to seller 3,810 Total purchase consideration $ 348,292 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 60,228 Property, plant, and equipment 51,613 Land lease 4,290 Patented and unpatented technologies 56,425 Customer relationships 39,720 Goodwill 165,088 Other long-term assets 11,228 Current liabilities (35,280 ) Other non-current liabilities (5,020 ) $ 348,292
Business Acquisition, Pro Forma Information [Table Text Block]	(in thousands) Three Months Ended April 2, 2016 Net sales $ 268,775 Income before income taxes 34,081 Net income 27,508 Net income — basic 1.23 Net income — diluted 1.22

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(in thousands) April 1, 2017 December 31, 2 016 Raw materials $ 33,003 $ 32,231 Work in process 24,200 23,354 Finished goods 61,108 58,478 Total $ 118,311 $ 114,063

Note 4 - Debt (Tables)

Note 4 - Debt (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	(in thousands ) April 1, 2017 December 31, 2016 Revolving credit facility $ — $ 112,500 Term loan 118,750 120,313 Entrusted loan 2,903 3,522 Euro Senior Notes, Series A due 2023 125,616 122,313 Euro Senior Notes, Series B due 2028 101,996 99,314 USD Senior Notes, Series A due 2022 25,000 — USD Senior Notes, Series B due 2027 100,000 — Unamortized debt issuance costs (3,742 ) (3,820 ) Total debt 470,523 454,142 Less: Current maturities (6,250 ) (6,250 ) Total long-term debt $ 464,273 $ 447,892

Note 5 - Fair Value of Assets22

Note 5 - Fair Value of Assets and Liabilities (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Significant Total Investment in Polytronics $ 11,660 $ — $ — $ 11,660 Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Significant Total Investment in Polytronics $ 10,435 $ — $ — $ 10,435
Fair Value, by Balance Sheet Grouping [Table Text Block]	April 1, 2017 December 31, 2016 (in thousands ) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Euro Senior Notes, Series A due 2023 $ 125,616 $ 125,251 $ 122,313 $ 122,586 Euro Senior Notes, Series B due 2028 101,996 101,037 99,314 99,230 USD Senior Notes, Series A due 2022 25,000 24,817 — — USD Senior Notes, Series B due 2027 100,000 99,208 — —

Note 6 - Benefit Plans (Tables)

Note 6 - Benefit Plans (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Components of net periodic benefit cost: Service cost $ 408 $ 332 Interest cost 360 497 Expected return on plan assets (476 ) (520 ) Amortization of prior service (credit) 84 73 Total cost of the plan 376 382 Expected plan participants’ contribution — — Net periodic benefit cost $ 376 $ 382

Note 7 - Shareholders' Equity (

Note 7 - Shareholders' Equity (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	(in thousands ) Pension and postretirement liability and reclassification adjustments (a) Unrealized gains on investments Foreign currency translation adjustment Accumulated other comprehensive income (loss) Balance at December 31, 2016 $ (11,983 ) $ 10,769 $ (73,365 ) $ (74,579 ) Activity in the period (282 ) 947 4,962 5,627 Balance at April 1, 2017 $ (12,265 ) $ 11,716 $ (68,403 ) $ (68,952 )

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended (in thousands, except per share amounts ) April 1, 2017 April 2, 2016 Numerator: Net income as reported $ 38,891 $ 19,289 Denominator: Weighted average shares outstanding Basic 22,748 22,438 Effect of dilutive securities 241 183 Diluted 22,989 22,621 Earnings Per Share: Basic earnings per share $ 1.71 $ 0.86 Diluted earnings per share $ 1.69 $ 0.85

Note 10 - Segment Information (

Note 10 - Segment Information (Tables)	3 Months Ended
	Apr. 01, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Net sales Electronics $ 153,767 $ 98,796 Automotive 107,839 91,933 Industrial 23,835 28,669 Total net sales $ 285,441 $ 219,398 Depreciation and amortization Electronics $ 8,387 $ 5,372 Automotive 5,371 3,266 Industrial 1,314 1,451 Other — 937 Total depreciation and amortization $ 15,072 $ 11,026 Operating income (loss) Electronics $ 35,206 $ 22,416 Automotive 15,065 17,491 Industrial 106 1,673 Other (a) (1,525 ) (9,152 ) Total operating income 48,852 32,428 Interest expense 3,120 2,045 Foreign exchange loss (gain) (1,557 ) 3,823 Other expense (income), net (139 ) (517 ) Income before income taxes $ 47,428 $ 27,077
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Net sales United States $ 86,658 $ 85,149 China 74,690 48,509 Other countries 124,093 85,740 Total net sales $ 285,441 $ 219,398 (in thousands ) April 1, 2017 December 31 , 2016 Long-lived assets United States $ 23,770 $ 23,731 China 65,073 65,345 Mexico 58,111 52,262 Philippines 32,615 33,345 Other countries 44,373 42,492 Total long-lived assets $ 223,942 $ 217,175 For the Three Months Ended (in thousands ) April 1, 2017 April 2, 2016 Additions to long-lived assets United States $ 332 $ 1,618 China 2,341 1,046 Mexico 6,978 4,653 Philippines 855 1,101 Other countries 1,871 721 Total additions to long-lived assets $ 12,377 $ 9,139

Note 1 - Summary of Significa27

Note 1 - Summary of Significant Accounting Policies and Other Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Oct. 02, 2016
Income Tax Expense (Benefit)	$ 8,537	$ 7,788
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (500)
Relay Unit [Member]
Intangible Assets, Net (Including Goodwill)			$ 41,400
Excess Of Fair Value Over Carrying Value Of Invested Capital			15.00%

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Feb. 28, 2017	Aug. 29, 2016	Apr. 04, 2016	Mar. 25, 2016	Dec. 31, 2016	Dec. 31, 2015
Electronics [Member]
Goodwill, Acquired During Period				$ 103,800
Automotive [Member]
Goodwill, Acquired During Period				$ 61,300
Monolith [Member]
Business Acquisition, Percentage of Voting Interests Acquired	62.00%
Business Combination, Consideration Transferred	$ 15,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	1,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	10,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	3,500
ON Portfolio [Member]
Business Combination, Consideration Transferred		$ 104,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount		7,300
Business Acquisition Inventory Stepup		$ 700
ON Portfolio [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life		13 years 182 days
ON Portfolio [Member] | Patented and Unpatented Technologies [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life		6 years
ON Portfolio [Member] | Patented and Unpatented Technologies [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life		8 years 182 days
ON Portfolio [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life		4 years
Menber's S.p.A. [Member]
Business Combination, Consideration Transferred			$ 19,200
Business Acquisition Inventory Stepup			$ 200
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
PolySwitch [Member]
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Business Combination, Consideration Transferred	$ 348,292			$ 348,300
Business Acquisition, Goodwill, Expected Tax Deductible Amount				64,900
Business Acquisition Inventory Stepup				$ 6,900
Payments to Acquire Businesses, Gross					$ 344,500
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
Monolith [Member]
Cost Method Investments					$ 3,500	$ 3,500
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						12.00%

Note 2 - Acquisitions - Prelimi

Note 2 - Acquisitions - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Apr. 04, 2016	Mar. 25, 2016	Apr. 01, 2017	Apr. 02, 2016	Dec. 31, 2016
Cash, net of cash acquired				$ 14,172	$ 264,098
Fair value of commitment to purchase non-controlling interest				9,000
Goodwill				$ 428,343		$ 403,544
Monolith [Member]
Original investment	$ 3,500
Cash, net of cash acquired	14,172
Fair value of commitment to purchase non-controlling interest	9,000
Total purchase consideration	26,672
Current assets, net	891
Property, plant, and equipment	789
Goodwill	20,641
Current liabilities	(639)
Other non-current liabilities	(1,870)
	26,672
Total purchase consideration	15,000
Monolith [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	6,720
Monolith [Member] | Noncompete Agreements [Member]
Intangible assets, other than goodwill	140
TVS Diode, Thyristor and IGBT Business [Member]
Current assets, net	4,816
Goodwill	56,084
Cash	104,000
	104,000
TVS Diode, Thyristor and IGBT Business [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill	31,800
TVS Diode, Thyristor and IGBT Business [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	8,800
TVS Diode, Thyristor and IGBT Business [Member] | Noncompete Agreements [Member]
Intangible assets, other than goodwill	2,500
Menber's S.p.A. [Member]
Cash, net of cash acquired	19,162
Current assets, net	12,919
Property, plant, and equipment	1,693
Goodwill	8,091
Current liabilities	(7,220)
	19,162
Other non-current liabilities	(1,444)
Total purchase consideration		$ 19,200
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
PolySwitch [Member]
Current assets, net	60,228
Property, plant, and equipment	51,613
Goodwill	165,088
Current liabilities	(35,280)
Cash						$ 344,500
	348,292
Other non-current liabilities	(5,020)
Original consideration	350,000
Post closing consideration adjustment received	(1,708)
Acquired cash	(3,810)
Acquired cash to be returned to seller	3,810
Total purchase consideration	348,292		$ 348,300
Land lease	4,290
Other long-term assets	11,228
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

Note 2 - Acquisitions - Busines

Note 2 - Acquisitions - Business Acquisition Pro Forma Information (Details) - PolySwitch [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 02, 2016USD ($)$ / shares
Net sales	$ 268,775
Income before income taxes	34,081
Net income	$ 27,508
Net income — basic (in dollars per share) | $ / shares	$ 1.23
Net income — diluted (in dollars per share) | $ / shares	$ 1.22

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Raw materials	$ 33,003	$ 32,231
Work in process	24,200	23,354
Finished goods	61,108	58,478
Total	$ 118,311	$ 114,063

Note 4 - Debt (Details Textual)

Note 4 - Debt (Details Textual) $ in Thousands, € in Millions, ¥ in Millions	Feb. 15, 2017USD ($)	Dec. 08, 2016USD ($)	Dec. 08, 2016EUR (€)	Mar. 04, 2016USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Apr. 01, 2017USD ($)	Apr. 01, 2017CNY (¥)	Dec. 31, 2016USD ($)	Dec. 27, 2014USD ($)	Dec. 27, 2014CNY (¥)
Entrusted Loan							$ 2,903		$ 3,522
Euro Senior Notes, Series A and B [Member]
Proceeds from Notes Payable | €			€ 212
Euro Senior Notes, Series A [Member]
Proceeds from Notes Payable | €			€ 117
Debt Instrument, Interest Rate, Stated Percentage		1.14%	1.14%
Euro Senior Notes, Series B [Member]
Proceeds from Notes Payable | €			€ 95
Debt Instrument, Interest Rate, Stated Percentage		1.83%	1.83%
U.S. Senior Notes, Series A and B [Member] | Subsequent Event [Member]
Proceeds from Notes Payable		$ 125,000
U.S. Senior Notes, Series A [Member] | Subsequent Event [Member]
Proceeds from Notes Payable	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	3.03%
U.S. Senior Notes, Series B [Member] | Subsequent Event [Member]
Proceeds from Notes Payable	$ 100,000
Debt Instrument, Interest Rate, Stated Percentage	3.74%
Entrustment Loan Member
Debt Instrument, Interest Rate, Stated Percentage										5.25%	5.25%
Entrusted Loan							$ 2,900	¥ 20		$ 17,900	¥ 110
Credit Agreement [Member]
Line of Credit Facility, Expiration Period				5 years
Line of Credit Facility, Maximum Borrowing Capacity				$ 700,000
Line of Credit Facility, Additional Uncommitted Borrowing Capacity				150,000
Line of Credit Facility, Additional Uncommitted Borrowing Capacity, Minimum Increments				$ 25,000
Debt Instrument, Interest Rate, Effective Percentage							2.48%	2.48%
Letters of Credit Outstanding, Amount							$ 100
Credit Agreement [Member] | Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.15%
Credit Agreement [Member] | Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.30%
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate				1.00%
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate				2.00%
Credit Agreement [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate				0.00%
Credit Agreement [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate				1.00%
Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 575,000
Line of Credit Facility, Remaining Borrowing Capacity							$ 574,900
Credit Agreement [Member] | Term Loan Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 125,000
Credit Agreement [Member] | Term Loan Credit Facility [Member] | Scenario, Forecast [Member]
Line of Credit Facility, Periodic Payment, Principal					$ 1,600	$ 3,100

Note 4 - Debt - Carrying Amount

Note 4 - Debt - Carrying Amounts of Long-term Debt (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Revolving credit facility		$ 112,500
Term loan	118,750	120,313
Entrusted loan	2,903	3,522
Unamortized debt issuance costs	(3,742)	(3,820)
Total debt	470,523	454,142
Less: Current maturities	6,250	6,250
Total long-term debt	464,273	447,892
Euro Senior Notes, Series A [Member]
Euro Senior Notes	125,616	122,313
Euro Senior Notes, Series B [Member]
Euro Senior Notes	101,996	99,314
U.S. Senior Notes, Series A [Member]
Euro Senior Notes	25,000
U.S. Senior Notes, Series B [Member]
Euro Senior Notes	$ 100,000

Note 5 - Fair Value of Assets34

Note 5 - Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - Polytronics [Member] - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Investment in Polytronics	$ 11,660	$ 10,435
Fair Value, Inputs, Level 1 [Member]
Investment in Polytronics	$ 11,660	$ 10,435

Note 5 - Fair Value of Assets35

Note 5 - Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Euro Senior Notes, Series A [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	$ 125,616	$ 122,313
Euro Senior Notes, Series A [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	125,251	122,586
Euro Senior Notes, Series B [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	101,996	99,314
Euro Senior Notes, Series B [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	101,037	99,230
U.S. Senior Notes, Series A [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	25,000
U.S. Senior Notes, Series A [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	24,817
U.S. Senior Notes, Series B [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	100,000
U.S. Senior Notes, Series B [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	$ 99,208

Note 6 - Benefit Plans (Details

Note 6 - Benefit Plans (Details Textual)	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Foreign Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.50%	4.90%

Note 6 - Benefit Plans - Benefi

Note 6 - Benefit Plans - Benefit Plan Related Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Service cost	$ 408	$ 332
Interest cost	360	497
Expected return on plan assets	(476)	(520)
Amortization of prior service (credit)	84	73
Total cost of the plan	376	382
Net periodic benefit cost	$ 376	$ 382

Note 7 - Shareholders' Equity38

Note 7 - Shareholders' Equity (Details Textual) - USD ($) $ in Millions	Apr. 01, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Pension and Other Post-retirement Benefit Plans, Liability Adjustment Tax	$ 1.2	$ 1.1

Note 7 - Shareholders' Equity -

Note 7 - Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2017USD ($)
Balance	$ 814,931
Balance	855,761
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(11,983)	[1]
Activity in the period	(282)
Balance	(12,265)	[1]
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Balance	10,769
Activity in the period	947
Balance	11,716
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(73,365)
Activity in the period	4,962
Balance	(68,403)
Accumulated Other-than-Temporary Impairment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(74,579)
Activity in the period	5,627
Balance	$ (68,952)
[1]	The balances at April 1, 2017 and December 31, 2016 are net of taxes of $1.2 million and $1.1 million, respectively.

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual)	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Effective Income Tax Rate Reconciliation, Percent	18.00%	28.80%

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	21,888

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
	Apr. 01, 2017	Apr. 02, 2016
Net income	$ 38,891	$ 19,289
Basic (in shares)	22,748	22,438
Effect of dilutive securities (in shares)	241	183
Diluted (in shares)	22,989	22,621
Earnings Per Share:
Basic earnings per share (in dollars per share)	$ 1.71	$ 0.86
Diluted earnings per share (in dollars per share)	$ 1.69	$ 0.85

Note 10 - Segment Information43

Note 10 - Segment Information (Details Textual) $ in Thousands	3 Months Ended
	Apr. 01, 2017USD ($)	Apr. 02, 2016USD ($)
Number of Operating Segments	3
Operating Income (Loss)	$ 48,852	$ 32,428
Other Segments [Member]
Operating Income (Loss)	$ (1,525)	(9,152)
Other Segments [Member] | Operating Income (Loss) [Member]
Restructuring Charges		1,400
Other Segments [Member] | Operating Income (Loss) [Member] | DENMARK
Impairment and Severance Costs		1,600
Other Segments [Member] | Cost of Sales [Member]
Restructuring Charges		1,100
Other Segments [Member] | Cost of Sales [Member] | DENMARK
Impairment and Severance Costs		200
Other Segments [Member] | Selling, General and Administrative Expenses [Member]
Restructuring Charges		300
Business Combination, Acquisition Related Costs		6,200
Other Segments [Member] | Selling, General and Administrative Expenses [Member] | DENMARK
Impairment and Severance Costs		200
Other Segments [Member] | Amortization of Intangibles Assets [Member] | DENMARK
Impairment and Severance Costs		900
Other Segments [Member] | Research and Development Expense [Member] | DENMARK
Impairment and Severance Costs		$ 300

Note 10 - Segment Information -

Note 10 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Net sales	$ 285,441	$ 219,398
Depreciation and amortization	15,072	11,026
Operating income	48,852	32,428
Interest expense	3,120	2,045
Foreign exchange loss (gain)	(1,557)	3,823
Other expense (income), net	(139)	(517)
Income before income taxes	47,428	27,077
Electronics [Member]
Net sales	153,767	98,796
Depreciation and amortization	8,387	5,372
Operating income	35,206	22,416
Automotive [Member]
Net sales	107,839	91,933
Depreciation and amortization	5,371	3,266
Operating income	15,065	17,491
Industrial [Member]
Net sales	23,835	28,669
Depreciation and amortization	1,314	1,451
Operating income	106	1,673
Other Segments [Member]
Depreciation and amortization		937
Operating income	$ (1,525)	$ (9,152)

Note 10 - Segment Information45

Note 10 - Segment Information - Revenues and Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Dec. 31, 2016
Net sales	$ 285,441	$ 219,398
Long-lived assets	223,942		$ 217,175
Additions to long-lived assets	12,377	9,139
UNITED STATES
Net sales	86,658	85,149
Long-lived assets	23,770		23,731
Additions to long-lived assets	332	1,618
CHINA
Net sales	74,690	48,509
Long-lived assets	65,073		65,345
Additions to long-lived assets	2,341	1,046
Other Countries [Member]
Net sales	124,093	85,740
Long-lived assets	44,373		42,492
Additions to long-lived assets	1,871	721
MEXICO
Long-lived assets	58,111		52,262
Additions to long-lived assets	6,978	4,653
PHILIPPINES
Long-lived assets	32,615		$ 33,345
Additions to long-lived assets	$ 855	$ 1,101