Littelfuse (LFUS) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jul. 01, 2017	Jul. 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)		22,712,629
Document Type	10-Q
Document Period End Date	Jul. 1, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 321,893	$ 275,124
Short-term investments	34	3,690
Trade receivables, net	199,027	176,032
Inventories	125,240	114,063
Prepaid income taxes	6,720	11,671
Prepaid expenses and other current assets	51,938	31,501
Total current assets	704,852	612,081
Land	9,691	9,268
Buildings	84,481	80,553
Equipment	471,960	439,542
Accumulated depreciation and amortization	(333,593)	(312,188)
Net property, plant, and equipment	232,539	217,175
Patents, licenses and software	85,798	83,607
Distribution network	18,191	18,995
Customer relationships, trademarks and tradenames	106,848	110,425
Goodwill	432,134	403,544
Investments	11,916	13,933
Deferred income taxes	19,028	20,585
Other assets	10,885	10,849
Total assets	1,622,191	1,491,194
LIABILITIES AND EQUITY
Accounts payable	100,826	90,712
Accrued payroll	32,866	42,810
Accrued expenses	50,536	36,138
Accrued severance	629	2,785
Accrued income taxes	9,522	8,846
Current portion of long-term debt	7,813	6,250
Total current liabilities	202,192	187,541
Long-term debt, less current portion	473,879	447,892
Deferred income taxes	(8,826)	(7,066)
Accrued post-retirement benefits	15,975	13,398
Other long-term liabilities	25,887	20,366
Shareholders’ equity:
Common stock, par value $0.01 per share	245	228
Treasury stock, at cost	(41,049)	(36,510)
Additional paid-in capital	302,238	291,258
Accumulated other comprehensive income	(73,104)	(74,579)
Retained earnings	706,959	634,391
Littelfuse, Inc. shareholders’ equity	895,289	814,788
Non-controlling interest	143	143
Total equity	895,432	814,931
Total liabilities and equity	$ 1,622,191	$ 1,491,194

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jul. 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		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Net sales	$ 313,355	$ 271,912	$ 598,797	$ 491,310
Cost of sales	180,747	174,046	352,539	306,289
Gross profit	132,608	97,866	246,258	185,021
Selling, general, and administrative expenses	53,438	51,092	100,139	93,458
Research and development expenses	12,729	11,916	24,881	20,481
Amortization of intangibles	6,171	5,156	12,115	8,952
Total operating expenses	72,338	68,164	137,135	122,891
Operating income	60,270	29,702	109,123	62,130
Interest expense	3,281	1,670	6,401	3,715
Foreign exchange gain	(558)	(6,237)	(2,115)	(2,414)
Other expense (income), net	190	255	52	(262)
Income before income taxes	57,357	34,014	104,785	61,091
Income taxes	8,719	6,862	17,255	14,650
Net income	$ 48,638	$ 27,152	$ 87,530	$ 46,441
Income per share:
Basic (in dollars per share)	$ 2.13	$ 1.21	$ 3.84	$ 2.07
Diluted (in dollars per share)	$ 2.11	$ 1.20	$ 3.80	$ 2.05
Weighted-average shares and equivalent shares outstanding:
Basic (in shares)	22,822	22,528	22,785	22,483
Diluted (in shares)	23,023	22,674	23,005	22,647

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Net income	$ 48,638	$ 27,152	$ 87,530	$ 46,441
Other comprehensive income (loss):
Pension liability adjustments (net of tax of $23 and $32 for the three months ended 2017 and 2016, and $55 and $365 for the six months ended 2017 and 2016, respectively)	(19)	(137)	(200)	(45)
Pension and postemployment reclassification adjustments	(80)	71	(181)	144
Unrealized gain (loss) on investments	(472)	(252)	475	(1,486)
Foreign currency translation adjustments	(3,582)	(14,935)	1,380	(3,180)
Comprehensive income	$ 44,485	$ 11,899	$ 89,004	$ 41,874

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Pension and postemployment liability adjustments, tax	$ 23	$ 32	$ 55	$ 365

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Net income	$ 87,530	$ 46,441
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	18,575	16,156
Amortization of intangibles	12,115	8,952
Provision for bad debts	1,895
Impairment of long-lived assets		1,391
Non-cash inventory charge		6,902
Loss on sale of property, plant, and equipment	593	331
Stock-based compensation	8,590	6,124
Excess tax benefit on share-based compensation		(1,585)
Deferred income taxes	1,514
Changes in operating assets and liabilities:
Trade receivables	(32,039)	(25,028)
Inventories	(8,739)	(1,282)
Accounts payable	7,985	2,974
Accrued expenses (including post-retirement)	3,912	5,715
Accrued payroll and severance	(13,190)	(10,227)
Accrued taxes	515	(13,946)
Prepaid expenses and other	4,317	(7,642)
Net cash provided by operating activities	93,573	35,276
Investing activities
Acquisitions of businesses, net of cash acquired	(14,172)	(354,356)
Proceeds from maturities of short-term investments	3,739
Decrease in entrusted loan	2,416
Purchases of property, plant, and equipment	(28,278)	(20,217)
Proceeds from sale of property, plant, and equipment	178	370
Net cash used in investing activities	(36,117)	(374,203)
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	(3,125)	(86,563)
Payments of revolving credit facility	(112,500)	(97,500)
Net proceeds (payments) related to stock-based award activities	(2,074)	2,960
Payments of entrusted loan	(2,416)
Debt issuance costs	(1)	(1,701)
Cash dividends paid	(14,963)	(12,995)
Excess tax benefit on share-based compensation		1,586
Net cash (used in) provided by financing activities	(10,079)	188,787
Effect of exchange rate changes on cash and cash equivalents	(608)	815
Increase (decrease) in cash and cash equivalents	46,769	(149,325)
Cash and cash equivalents at beginning of period	275,124	328,786
Cash and cash equivalents at end of period	321,893	179,461
Supplemental disclosure 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	6 Months Ended
	Jul. 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 X. not 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 Certain reclassifications of prior year amounts for Trade receivables, net Prepaid expenses and other current assets 2017 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 October 2, 2016, no 2016 $41.4 15%. July 1, 2017, no Recently Adopted Accounting Standards In July 2015, “FASB”) issued Accounting Standards Update (“ASU”) No. 2015 11 330 December 15, 2016, January 1, 2017. not first first In March 2016, No. 2016 09 – “Improvements to Employee Share-Based Payment Accounting,” which amends ASC 718, December 15, 2016, January 1, 2017. $1.4 $1.9 three six July 1, 2017, not no Recently Issued Accounting Standards In May 2014, No. 2014 09, 606 605, two one one August, 2015, No. 2015 14, No. 2014 09 December 15, 2017, December 15, 2016. not may not In February 2016, No. 2016 02, 842 ASU requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve December 15, 2018, In January 2017, No. 2017 04, 350 no 2 December 15, 2020, January 1, 2017. The Company expects to adopt the new standard in 2017.

Note 2 - Acquisitions

Note 2 - Acquisitions	6 Months Ended
	Jul. 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, Company invested $3.5 12% $3.5 December 31, 2016. On February 28, 2017, Company and the stockholders of Monolith and conditioned on Monolith achieving a product development milestone and other provisions, the Company acquired approximately 62% $15 $1.0 $10 no 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 no Commencing March 1, 2017, Company’s consolidated financial statements. Had the acquisition occurred as of January 1, 2017, not 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 ON Portfolio On August 29, 2016, Company acquired certain assets of select businesses (the “ON Portfolio”) of ON Semiconductor Corporation for $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 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 Company’s expected future product sales and synergies from combining the ON Portfolio products with the Company’s existing 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, Company completed the acquisition of Menber’s S.p.A. (“Menber’s”) headquartered in Legnago, Italy for $19.2 The following table summarizes the 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 not As required by purchase accounting rules, the Company recorded a $0.2 2016, PolySwitch On March 25, 2016, Company acquired 100% $348.3 second 2017, $3.8 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 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 six July 2, 2016 January 3, 2016. not not not January 3, 2016 (in thousands) Three Months Ended July 2 , 2016 Six Months Ended July 2, 2016 Net sales $ 286,975 $ 555,750 Income before income taxes 44,140 78,222 Net income 36,191 63,700 Net income — basic 1.61 2.83 Net income — diluted 1.60 2.81 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	6 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	3 . Inventories The components of inventories at July 1, 2017 December 31, 2016 (in thousands) July 1, 2017 December 31, 2 016 Raw materials $ 36,104 $ 32,231 Work in process 26,576 23,354 Finished goods 62,560 58,478 Total $ 125,240 $ 114,063

Note 4 - Debt

Note 4 - Debt	6 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	4 . Debt The carrying amounts of debt at July 1, 2017 December 31, 2016 (in thousands ) July 1, 2017 December 31, 2016 Revolving credit facility $ — $ 112,500 Term loan 117,188 120,313 Entrusted loan 1,179 3,522 Euro Senior Notes, Series A due 2023 133,497 122,313 Euro Senior Notes, Series B due 2028 108,395 99,314 USD Senior Notes, Series A due 2022 25,000 — USD Senior Notes, Series B due 2027 100,000 — Unamortized debt issuance costs (3,567 ) (3,820 ) Total debt 481,692 454,142 Less: Current maturities (7,813 ) (6,250 ) Total long-term debt $ 473,879 $ 447,892 Revolving Credit Facility / Term Loan On March 4, 2016, Company entered into a new 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%, 2.72% July 1, 2017. As of July 1, 2017, $0.1 $574.9 July 1, 2017, Senior Notes On December 8, 2016, Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold €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, Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold $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 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 July 1, 2017, The Company may Entrusted Loan During 2014, Company entered into an entrusted loan arrangement (“Entrusted Loan”) of Chinese renminbi 110.0 $17.9 two two third no 5.25%. November 2019. Chinese renminbi 8.0 $1.2 July 1, 2017.

Note 5 - Fair Value of Assets a

Note 5 - Fair Value of Assets and Liabilities	6 Months Ended
	Jul. 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 based on unadjusted quoted prices for identical assets or liabilities in active markets; Level 2 —Valuations based upon quoted prices for similar not 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 the quarter ended July 1, 2017 July 1, 2017 December 31, 2016, not The following table presents assets measured at fair value by classification within the fair value hierarchy as of July 1, 2017: Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Other Significant Unobservable Total Investment in Polytronics $ 11,916 $ — $ — $ 11,916 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 Other Significant Unobservable 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 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 July 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 July 1, 2017 December 31, 2016 July 1, 2017 December 31, 2016 (in thousands ) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Euro Senior Notes, Series A due 2023 $ 133,497 $ 132,037 $ 122,313 $ 122,586 Euro Senior Notes, Series B due 2028 108,395 105,505 99,314 99,230 USD Senior Notes, Series A due 2022 25,000 24,928 — — USD Senior Notes, Series B due 2027 100,000 99,890 — —

Note 6 - Benefit Plans

Note 6 - Benefit Plans	6 Months Ended
	Jul. 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 and six July 1, 2017 July 2, 2016 For the Three Months Ended For the Six Months Ended (in thousands) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Components of net periodic benefit cost: Service cost $ 408 $ 333 $ 816 $ 665 Interest cost 360 496 720 993 Expected return on plan assets (476 ) (520 ) (952 ) (1,040 ) Amortization of prior service (credit) 84 73 168 146 Total cost of the plan 376 382 752 764 Expected plan participants ’ contribution — — — — Net periodic benefit cost $ 376 $ 382 $ 752 $ 764 The expected return on pension assets is 4.5% 4.9% 2017 2016,

Note 7 - Shareholders' Equity

Note 7 - Shareholders' Equity	6 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	7. ’ Equity Accumulated Other Comprehensive Income (Loss) (“AOCI”): The following table sets forth the changes in the components of AOCI by component for the six July 1, 2017: (in thousands ) Pension and postretirement liability and reclassification adjustments (a) Unrealized g ain s 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 (381 ) 475 1,381 1,475 Balance at July 1, 2017 $ (12,364 ) $ 11,244 $ (71,984 ) $ (73,104 ) (a) The balance s at July 1, 2017 December 31, 2016 $1.1 $1.1

Note 8 - Income Taxes

Note 8 - Income Taxes	6 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. The effective tax rate s for the three six July 1, 2017 15.2% 16.5%, three six July 2, 2016 20.2% 24.0%, second 2017 second 2016 second 2017 second 2016 January 1, 2017 No. 2016 09 $1.4 $1.9 three six July 1, 2017,

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	6 Months Ended
	Jul. 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 For the Six Months Ended (in thousands , except per share amounts ) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Numerator: Net income as reported $ 48,638 $ 27,152 $ 87,530 $ 46,441 Denominator: Weighted average shares outstanding Basic 22,822 22,528 22,785 22,483 Effect of dilutive securities 201 146 220 164 Diluted 23,023 22,674 23,005 22,647 Earnings Per Share: Basic earnings per share $ 2.13 $ 1.21 $ 3.84 $ 2.07 Diluted earnings per share $ 2.11 $ 1.20 $ 3.80 $ 2.05 Potential shares of common stock relating to stock options excluded from the earnings per share calculation because their effect would be anti-dilutive were 46,100 60,491 three July 1, 2017 July 2, 2016, 21,896 36,699 six July 1, 2017 July 2, 2016,

Note 10 - Segment Information

Note 10 - Segment Information	6 Months Ended
	Jul. 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 not 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 not not not not not not one may ● Electronics Segment : Provides circuit protection components for overcurrent and overvoltage protection, as well as sensor components and modules to leading global manufacturers of a wide range of electronic products. The segment covers a broad range of end markets, including consumer electronics, telecommunications equipment, medical devices, lighting products, and white goods. The Electronics segment supplies circuit protection, sensing and control products to various leading manufacturers. The Electronics segment has one ● Automotive Segment : ● Industrial Segment : Segment inform ation is summarized as follows: For the Three Months Ended For the Six Months Ended (in thousands ) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Net sales Electronics $ 169,387 $ 132,170 $ 323,154 $ 230,966 Automotive 116,457 111,370 224,297 203,303 Industrial 27,511 28,372 51,346 57,041 Total net sales $ 313,355 $ 271,912 $ 598,797 $ 491,310 Depreciation and amortization Electronics $ 8,707 $ 7,717 $ 17,095 $ 13,089 Automotive 5,580 4,988 10,950 8,254 Industrial 1,330 1,376 2,645 2,828 Other - — - 937 Total depreciation and amortization $ 15,617 $ 14,081 $ 30,690 $ 25,108 Operating income (loss) Electronics $ 42,967 $ 25,259 $ 78,173 $ 47,675 Automotive 15,713 16,474 30,778 33,965 Industrial 1,905 2,028 2,012 3,701 Other (a) (315 ) (14,059 ) (1,840 ) (23,211 ) Total operating income 60,270 29,702 109,123 62,130 Interest expense 3,281 1,670 6,401 3,715 Foreign exchange loss (gain) (558 ) (6,237 ) (2,115 ) (2,414 ) Other expense (income), net 190 255 52 (262 ) Income before income taxes $ 57,357 $ 34,014 $ 104,785 $ 61,091 (a) Included in “Other” Operating income (loss) for the 2017 second $0.3 $1.8 2016 Included in “Other” Operating income (loss) for the 2016 second $6.1 $12.3 $6.9 $6.9 4, $0.3 $1.9 $0.7 $1.7 $0.1 $0.4 The Company’s net sales by country are as follows: For the Three Months Ended For the Six Months Ended (in thousands ) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Net sales United States $ 100,648 $ 93,036 $ 187,306 $ 178,184 China 83,055 62,411 157,745 110,919 Other countries 129,652 116,465 253,746 202,207 Total net sales $ 313,355 $ 271,912 $ 598,797 $ 491,310 The Company’s long-lived assets by country, as of July 1, 2017 December 31, 2016, (in thousands ) July 1, 2017 December 31 , 2016 Long-lived assets United States $ 23,415 $ 23,731 China 70,671 65,345 Mexico 60,172 52,262 Philippines 31,573 33,345 Other countries 46,708 42,492 Total long-lived assets $ 232,539 $ 217,175 The Company’s additions to long-lived assets by country are as follows: For the Six Months Ended (in thousands ) July 1, 2017 July 2, 2016 Additions to long-lived assets United States $ 1,149 $ 2,783 China 10,149 3,847 Mexico 10,925 8,164 Philippines 1,345 2,925 Other countries 5,310 2,498 Total additions to long-lived assets $ 28,878 $ 20,217

Note 11 - Subsequent Event

Note 11 - Subsequent Event	6 Months Ended
	Jul. 01, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	11 ) Subsequent Event On July 6, 2017, $24.0

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 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 X. not 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 Certain reclassifications of prior year amounts for Trade receivables, net Prepaid expenses and other current assets 2017
Goodwill and Intangible Assets, 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 October 2, 2016, no 2016 $41.4 15%. July 1, 2017, no
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In July 2015, “FASB”) issued Accounting Standards Update (“ASU”) No. 2015 11 330 December 15, 2016, January 1, 2017. not first first In March 2016, No. 2016 09 – “Improvements to Employee Share-Based Payment Accounting,” which amends ASC 718, December 15, 2016, January 1, 2017. $1.4 $1.9 three six July 1, 2017, not no Recently Issued Accounting Standards In May 2014, No. 2014 09, 606 605, two one one August, 2015, No. 2015 14, No. 2014 09 December 15, 2017, December 15, 2016. not may not In February 2016, No. 2016 02, 842 ASU requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve December 15, 2018, In January 2017, No. 2017 04, 350 no 2 December 15, 2020, January 1, 2017. The Company expects to adopt the new standard in 2017.

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	6 Months Ended
	Jul. 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 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 July 2 , 2016 Six Months Ended July 2, 2016 Net sales $ 286,975 $ 555,750 Income before income taxes 44,140 78,222 Net income 36,191 63,700 Net income — basic 1.61 2.83 Net income — diluted 1.60 2.81

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	6 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(in thousands) July 1, 2017 December 31, 2 016 Raw materials $ 36,104 $ 32,231 Work in process 26,576 23,354 Finished goods 62,560 58,478 Total $ 125,240 $ 114,063

Note 4 - Debt (Tables)

Note 4 - Debt (Tables)	6 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	(in thousands ) July 1, 2017 December 31, 2016 Revolving credit facility $ — $ 112,500 Term loan 117,188 120,313 Entrusted loan 1,179 3,522 Euro Senior Notes, Series A due 2023 133,497 122,313 Euro Senior Notes, Series B due 2028 108,395 99,314 USD Senior Notes, Series A due 2022 25,000 — USD Senior Notes, Series B due 2027 100,000 — Unamortized debt issuance costs (3,567 ) (3,820 ) Total debt 481,692 454,142 Less: Current maturities (7,813 ) (6,250 ) Total long-term debt $ 473,879 $ 447,892

Note 5 - Fair Value of Assets23

Note 5 - Fair Value of Assets and Liabilities (Tables)	6 Months Ended
	Jul. 01, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Other Significant Unobservable Total Investment in Polytronics $ 11,916 $ — $ — $ 11,916 Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Other Significant Unobservable Total Investment in Polytronics $ 10,435 $ — $ — $ 10,435
Fair Value, by Balance Sheet Grouping [Table Text Block]	July 1, 2017 December 31, 2016 (in thousands ) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Euro Senior Notes, Series A due 2023 $ 133,497 $ 132,037 $ 122,313 $ 122,586 Euro Senior Notes, Series B due 2028 108,395 105,505 99,314 99,230 USD Senior Notes, Series A due 2022 25,000 24,928 — — USD Senior Notes, Series B due 2027 100,000 99,890 — —

Note 6 - Benefit Plans (Tables)

Note 6 - Benefit Plans (Tables)	6 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	For the Three Months Ended For the Six Months Ended (in thousands) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Components of net periodic benefit cost: Service cost $ 408 $ 333 $ 816 $ 665 Interest cost 360 496 720 993 Expected return on plan assets (476 ) (520 ) (952 ) (1,040 ) Amortization of prior service (credit) 84 73 168 146 Total cost of the plan 376 382 752 764 Expected plan participants ’ contribution — — — — Net periodic benefit cost $ 376 $ 382 $ 752 $ 764

Note 7 - Shareholders' Equity (

Note 7 - Shareholders' Equity (Tables)	6 Months Ended
	Jul. 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 g ain s 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 (381 ) 475 1,381 1,475 Balance at July 1, 2017 $ (12,364 ) $ 11,244 $ (71,984 ) $ (73,104 )

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	6 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Six Months Ended (in thousands , except per share amounts ) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Numerator: Net income as reported $ 48,638 $ 27,152 $ 87,530 $ 46,441 Denominator: Weighted average shares outstanding Basic 22,822 22,528 22,785 22,483 Effect of dilutive securities 201 146 220 164 Diluted 23,023 22,674 23,005 22,647 Earnings Per Share: Basic earnings per share $ 2.13 $ 1.21 $ 3.84 $ 2.07 Diluted earnings per share $ 2.11 $ 1.20 $ 3.80 $ 2.05

Note 10 - Segment Information (

Note 10 - Segment Information (Tables)	6 Months Ended
	Jul. 01, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended For the Six Months Ended (in thousands ) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Net sales Electronics $ 169,387 $ 132,170 $ 323,154 $ 230,966 Automotive 116,457 111,370 224,297 203,303 Industrial 27,511 28,372 51,346 57,041 Total net sales $ 313,355 $ 271,912 $ 598,797 $ 491,310 Depreciation and amortization Electronics $ 8,707 $ 7,717 $ 17,095 $ 13,089 Automotive 5,580 4,988 10,950 8,254 Industrial 1,330 1,376 2,645 2,828 Other - — - 937 Total depreciation and amortization $ 15,617 $ 14,081 $ 30,690 $ 25,108 Operating income (loss) Electronics $ 42,967 $ 25,259 $ 78,173 $ 47,675 Automotive 15,713 16,474 30,778 33,965 Industrial 1,905 2,028 2,012 3,701 Other (a) (315 ) (14,059 ) (1,840 ) (23,211 ) Total operating income 60,270 29,702 109,123 62,130 Interest expense 3,281 1,670 6,401 3,715 Foreign exchange loss (gain) (558 ) (6,237 ) (2,115 ) (2,414 ) Other expense (income), net 190 255 52 (262 ) Income before income taxes $ 57,357 $ 34,014 $ 104,785 $ 61,091
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	For the Three Months Ended For the Six Months Ended (in thousands ) July 1, 201 7 July 2 , 201 6 July 1, 201 7 July 2, 2016 Net sales United States $ 100,648 $ 93,036 $ 187,306 $ 178,184 China 83,055 62,411 157,745 110,919 Other countries 129,652 116,465 253,746 202,207 Total net sales $ 313,355 $ 271,912 $ 598,797 $ 491,310 (in thousands ) July 1, 2017 December 31 , 2016 Long-lived assets United States $ 23,415 $ 23,731 China 70,671 65,345 Mexico 60,172 52,262 Philippines 31,573 33,345 Other countries 46,708 42,492 Total long-lived assets $ 232,539 $ 217,175 For the Six Months Ended (in thousands ) July 1, 2017 July 2, 2016 Additions to long-lived assets United States $ 1,149 $ 2,783 China 10,149 3,847 Mexico 10,925 8,164 Philippines 1,345 2,925 Other countries 5,310 2,498 Total additions to long-lived assets $ 28,878 $ 20,217

Note 1 - Summary of Significa28

Note 1 - Summary of Significant Accounting Policies and Other Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Oct. 02, 2016
Income Tax Expense (Benefit)	$ 8,719	$ 6,862	$ 17,255	$ 14,650
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (1,400)		$ (1,900)
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	Jul. 01, 2017	Jul. 01, 2017	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, 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					$ 3,500
Business Combination, Consideration Transferred	$ 15,000
ON Portfolio [Member]
Business Acquisition Inventory Stepup		$ 700
Business Combination, Consideration Transferred		104,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount		$ 7,300
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 Acquisition Inventory Stepup			$ 200
Business Combination, Consideration Transferred			$ 19,200
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 Inventory Stepup				$ 6,900
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Business Combination, Consideration Transferred				$ 348,300		$ 348,292
Payments for Previous Acquisition					$ 3,800
Business Acquisition, Goodwill, Expected Tax Deductible Amount				$ 64,900
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]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners								12.00%
Cost Method Investments							$ 3,500	$ 3,500

Note 2 - Acquisitions - Prelimi

Note 2 - Acquisitions - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Aug. 29, 2016	Apr. 04, 2016	Mar. 25, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Goodwill					$ 432,134		$ 403,544
Cash, net of cash acquired					14,172	$ 354,356
Fair value of commitment to purchase non-controlling interest					9,000
Monolith [Member]
Total purchase consideration	$ 15,000
Current liabilities					(639)
Other non-current liabilities					(1,870)
					26,672
Current assets, net					891
Property, plant, and equipment					789
Goodwill					20,641
Original investment	$ 3,500				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
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
ON Portfolio [Member]
Total purchase consideration		$ 104,000
Cash					104,000
Current assets, net					4,816
Goodwill					56,084
					104,000
ON Portfolio [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill					31,800
ON Portfolio [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill					8,800
ON Portfolio [Member] | Noncompete Agreements [Member]
Intangible assets, other than goodwill					2,500
Menber's S.p.A. [Member]
Total purchase consideration			$ 19,200
Current liabilities					(7,220)
Current assets, net					12,919
Property, plant, and equipment					1,693
Goodwill					8,091
Other non-current liabilities					(1,444)
					19,162
Cash, net of cash acquired					19,162
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]
Original consideration					350,000
Post closing consideration adjustment received					(1,708)
Acquired cash					(3,810)
Acquired cash returned to seller					3,810
Total purchase consideration				$ 348,300	348,292
Other long-term assets					11,228
Current liabilities					(35,280)
Current assets, net					60,228
Property, plant, and equipment					51,613
Land lease					4,290
Goodwill					165,088
Other non-current liabilities					(5,020)
					348,292
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) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 02, 2016	Jul. 02, 2016
Net sales	$ 286,975	$ 555,750
Income before income taxes	44,140	78,222
Net income	$ 36,191	$ 63,700
Net income — basic (in dollars per share)	$ 1.61	$ 2.83
Net income — diluted (in dollars per share)	$ 1.60	$ 2.81

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Raw materials	$ 36,104	$ 32,231
Work in process	26,576	23,354
Finished goods	62,560	58,478
Total	$ 125,240	$ 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 ($)	Jul. 01, 2017USD ($)	Jul. 01, 2017CNY (¥)	Dec. 31, 2016USD ($)	Dec. 27, 2014USD ($)	Dec. 27, 2014CNY (¥)
Entrusted Loan							$ 1,179		$ 3,522
Euro Senior Notes, Series A and B [Member]
Proceeds from Notes Payable | €			€ 212
Euro Senior Notes, Series A [Member]
Debt Instrument, Interest Rate, Stated Percentage		1.14%	1.14%
Proceeds from Notes Payable | €			€ 117
Euro Senior Notes, Series B [Member]
Debt Instrument, Interest Rate, Stated Percentage		1.83%	1.83%
Proceeds from Notes Payable | €			€ 95
U.S. Senior Notes, Series A and B [Member]
Proceeds from Notes Payable		$ 125,000
U.S. Senior Notes, Series A [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.03%
Proceeds from Notes Payable	$ 25,000
U.S. Senior Notes, Series B [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.74%
Proceeds from Notes Payable	$ 100,000
Entrustment Loan Member
Entrusted Loan							$ 1,200	¥ 8		$ 17,900	¥ 110
Debt Instrument, Interest Rate, Stated Percentage										5.25%	5.25%
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							2.72%	2.72%
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	Jul. 01, 2017	Dec. 31, 2016
Revolving credit facility		$ 112,500
Term loan	117,188	120,313
Entrusted loan	1,179	3,522
Unamortized debt issuance costs	(3,567)	(3,820)
Total debt	481,692	454,142
Less: Current maturities	7,813	6,250
Total long-term debt	473,879	447,892
Euro Senior Notes, Series A [Member]
Senior Notes	133,497	122,313
Euro Senior Notes, Series B [Member]
Senior Notes	108,395	99,314
U.S. Senior Notes, Series A [Member]
Senior Notes	25,000
U.S. Senior Notes, Series B [Member]
Senior Notes	$ 100,000

Note 5 - Fair Value of Assets35

Note 5 - Fair Value of Assets and Liabilities (Details Textual) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Assets, Fair Value Disclosure	$ 0	$ 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 0	$ 0

Note 5 - Fair Value of Assets36

Note 5 - Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - Polytronics [Member] - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Investment in Polytronics	$ 11,916	$ 10,435
Fair Value, Inputs, Level 1 [Member]
Investment in Polytronics	11,916	10,435
Fair Value, Inputs, Level 2 [Member]
Investment in Polytronics
Fair Value, Inputs, Level 3 [Member]
Investment in Polytronics

Note 5 - Fair Value of Assets37

Note 5 - Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Euro Senior Notes, Series A [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	$ 133,497	$ 122,313
Euro Senior Notes, Series A [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	132,037	122,586
Euro Senior Notes, Series B [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	108,395	99,314
Euro Senior Notes, Series B [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	105,505	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	24,928
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	$ 99,890

Note 6 - Benefit Plans (Details

Note 6 - Benefit Plans (Details Textual)	6 Months Ended
	Jul. 01, 2017	Jul. 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		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 02, 2017	Jul. 02, 2016
Service cost	$ 408	$ 333	$ 816	$ 665
Interest cost	360	496	720	993
Expected return on plan assets	(476)	(520)	(952)	(1,040)
Amortization of prior service (credit)	84	73	168	146
Total cost of the plan	376	382	752	764
Net periodic benefit cost	$ 376	$ 382	$ 752	$ 764

Note 7 - Shareholders' Equity40

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

Note 7 - Shareholders' Equity -

Note 7 - Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2017USD ($)
Balance	$ 814,931
Balance	895,432
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(11,983)	[1]
Activity in the period	(381)
Balance	(12,364)	[1]
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Balance	10,769
Activity in the period	475
Balance	11,244
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(73,365)
Activity in the period	1,381
Balance	(71,984)
Accumulated Other-than-Temporary Impairment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(74,579)
Activity in the period	1,475
Balance	$ (73,104)
[1]	The balances at July 1, 2017 and December 31, 2016 are net of taxes of $1.1 million and $1.1 million, respectively.

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Effective Income Tax Rate Reconciliation, Percent	15.20%	16.50%	20.20%	24.00%
Income Tax Expense (Benefit)	$ 8,719	$ 6,862	$ 17,255	$ 14,650
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (1,400)		$ (1,900)

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	46,100	60,491	21,896	36,699

Note 9 - Earnings Per Share - C

Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Net income	$ 48,638	$ 27,152	$ 87,530	$ 46,441
Basic (in shares)	22,822	22,528	22,785	22,483
Effect of dilutive securities (in shares)	201	146	220	164
Diluted (in shares)	23,023	22,674	23,005	22,647
Earnings Per Share:
Basic earnings per share (in dollars per share)	$ 2.13	$ 1.21	$ 3.84	$ 2.07
Diluted earnings per share (in dollars per share)	$ 2.11	$ 1.20	$ 3.80	$ 2.05

Note 10 - Segment Information45

Note 10 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017USD ($)	Jul. 02, 2016USD ($)	Jul. 01, 2017USD ($)	Jul. 02, 2016USD ($)
Number of Operating Segments			3
Noncash Charges Related To Inventory Stepup				$ 6,902
Other Segments [Member] | Operating Income (Loss) [Member]
Business Combination, Acquisition Related Costs	$ 300	$ 6,100	$ 1,800	12,300
Noncash Charges Related To Inventory Stepup		6,900		6,900
Legal Fees		100		400
Other Segments [Member] | Operating Income (Loss) [Member] | Facility Closing [Member]
Restructuring Charges		300		1,900
Other Segments [Member] | Operating Income (Loss) [Member] | Facility Relocation [Member]
Restructuring Charges		$ 700		$ 1,700

Note 10 - Segment Information -

Note 10 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Net sales		$ 313,355	$ 271,912	$ 598,797	$ 491,310
Depreciation and amortization		15,617	14,081	30,690	25,108
Operating income		60,270	29,702	109,123	62,130
Interest expense		3,281	1,670	6,401	3,715
Foreign exchange loss (gain)		(558)	(6,237)	(2,115)	(2,414)
Other expense (income), net		190	255	52	(262)
Income before income taxes		57,357	34,014	104,785	61,091
Electronics [Member]
Net sales		169,387	132,170	323,154	230,966
Depreciation and amortization		8,707	7,717	17,095	13,089
Operating income		42,967	25,259	78,173	47,675
Automotive [Member]
Net sales		116,457	111,370	224,297	203,303
Depreciation and amortization		5,580	4,988	10,950	8,254
Operating income		15,713	16,474	30,778	33,965
Industrial [Member]
Net sales		27,511	28,372	51,346	57,041
Depreciation and amortization		1,330	1,376	2,645	2,828
Operating income		1,905	2,028	2,012	3,701
Other Segments [Member]
Depreciation and amortization					937
Operating income	[1]	$ (315)	$ (14,059)	$ (1,840)	$ (23,211)
[1]	Included in "Other" Operating income (loss) for the 2017 second quarter is of $0.3 million ($1.8 million year-to-date) of acquisition and integration costs associated with the Company's 2016 acquisitions (included in Cost of sales ("COS") and Selling, general, and administrative expenses ("SG&A)). Included in "Other" Operating income (loss) for the 2016 second quarter is $6.1 million ($12.3 million year-to-date) of acquisition-related costs primarily related to legal and integration costs associated with the company's acquisition of the PolySwitch business, a $6.9 million ($6.9 million year-to-date) inventory adjustment relating to the PolySwitch acquisition as described in Note 4, $0.3 million ($1.9 million year-to-date) in charges related to the closure of the company's manufacturing facility in Denmark, $0.7 million ($1.7 million year-to-date) related to the company's transfer of its reed sensor manufacturing operations from the U.S. and China to the Philippines and $0.1 million ($0.4 million year-to-date) related to internal legal restructuring costs.

Note 10 - Segment Information47

Note 10 - Segment Information - Revenues and Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Net sales	$ 313,355	$ 271,912	$ 598,797	$ 491,310
Long-lived assets	232,539		232,539		$ 217,175
Additions to long-lived assets			28,878	20,217
UNITED STATES
Net sales	100,648	93,036	187,306	178,184
Long-lived assets	23,415		23,415		23,731
Additions to long-lived assets			1,149	2,783
CHINA
Net sales	83,055	62,411	157,745	110,919
Long-lived assets	70,671		70,671		65,345
Additions to long-lived assets			10,149	3,847
Other Countries [Member]
Net sales	129,652	$ 116,465	253,746	202,207
Long-lived assets	46,708		46,708		42,492
Additions to long-lived assets			5,310	2,498
MEXICO
Long-lived assets	60,172		60,172		52,262
Additions to long-lived assets			10,925	8,164
PHILIPPINES
Long-lived assets	$ 31,573		31,573		$ 33,345
Additions to long-lived assets			$ 1,345	$ 2,925

Note 11 - Subsequent Event (Det

Note 11 - Subsequent Event (Details Textual) $ in Millions	Jul. 06, 2017USD ($)
U.S. Sensor Corp [Member] | Subsequent Event [Member]
Business Combination, Consideration Transferred	$ 24