Littelfuse (LFUS) 10-Q 1 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 27, 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)		22,713,384
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 372,828	$ 275,124
Short-term investments	35	3,690
Trade receivables, less allowances (September 30, 2017 - $30,658 December 31, 2016 - $25,874)	197,539	176,032
Inventories	136,505	114,063
Prepaid income taxes	6,658	11,671
Prepaid expenses and other current assets	45,799	31,501
Total current assets	759,364	612,081
Property, plant, and equipment:
Land	9,690	9,268
Buildings	86,111	80,553
Equipment	493,361	439,542
Accumulated depreciation and amortization	(344,288)	(312,188)
Net property, plant, and equipment	244,874	217,175
Intangible assets, net of amortization:
Patents, licenses and software	84,455	83,607
Distribution network	20,329	18,995
Customer relationships, trademarks and tradenames	104,738	110,425
Goodwill	451,131	403,544
Investments	10,582	13,933
Deferred income taxes	17,806	20,585
Other assets	8,913	10,849
Total assets	1,702,192	1,491,194
LIABILITIES AND EQUITY
Accounts payable	103,849	90,712
Accrued payroll	42,131	42,810
Accrued expenses	52,786	36,138
Accrued severance	1,734	2,785
Accrued income taxes	16,281	8,846
Current portion of long-term debt	9,375	6,250
Total current liabilities	226,156	187,541
Long-term debt, less current portion	492,272	447,892
Deferred income taxes	(7,719)	(7,066)
Accrued post-retirement benefits	16,571	13,398
Other long-term liabilities	26,230	20,366
Shareholders’ equity:
Common stock, par value $0.01 per share	229	228
Treasury stock, at cost	(41,260)	(36,510)
Additional paid-in capital	306,118	291,258
Accumulated other comprehensive income	(73,343)	(74,579)
Retained earnings	741,363	634,391
Littelfuse, Inc. shareholders’ equity	933,107	814,788
Non-controlling interest	137	143
Total equity	933,244	814,931
Total liabilities and equity	$ 1,702,192	$ 1,491,194

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Trade receivables, allowances	$ 30,658	$ 25,874
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Condensed Consolidated Statemen

Condensed Consolidated Statements of Net Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Net sales	$ 317,889	$ 280,331	$ 916,685	$ 771,641
Cost of sales	184,238	166,572	536,776	472,861
Gross profit	133,651	113,759	379,909	298,780
Selling, general, and administrative expenses	56,759	56,589	156,899	150,047
Research and development expenses	11,991	10,403	36,872	30,884
Amortization of intangibles	6,292	4,432	18,407	13,384
Impairment of goodwill and intangible assets		14,809		14,809
Total operating expenses	75,042	86,233	212,178	209,124
Operating income	58,609	27,526	167,731	89,656
Interest expense	3,467	2,571	9,868	6,286
Foreign exchange loss (gain)	632	(4,700)	(1,483)	(7,114)
Other income, net	(1,013)	(778)	(962)	(1,040)
Income before income taxes	55,523	30,433	160,308	91,524
Income taxes	12,715	(369)	29,970	14,281
Net income	$ 42,808	$ 30,802	$ 130,338	$ 77,243
Income per share:
Basic (in dollars per share)	$ 1.88	$ 1.36	$ 5.75	$ 3.43
Diluted (in dollars per share)	$ 1.87	$ 1.35	$ 5.69	$ 3.41
Weighted-average shares outstanding:
Basic (in shares)	22,713	22,578	22,678	22,515
Diluted (in shares)	22,953	22,734	22,906	22,675

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Net income	$ 42,808	$ 30,802	$ 130,338	$ 77,243
Other comprehensive income (loss):
Pension liability adjustments (net of tax of $89 and $30 for the three months ended 2017 and 2016, and $144 and $395 for the nine months ended 2017 and 2016, respectively)	58	(138)	(142)	(183)
Pension and post-retirement reclassification adjustments	(118)	68	(299)	212
Unrealized (loss) gain on investments	(1,710)	927	(1,235)	(559)
Foreign currency translation adjustments	1,531	(5,771)	2,912	(8,951)
Comprehensive income	$ 42,569	$ 25,888	$ 131,574	$ 67,762

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Pension and postemployment liability adjustments, tax	$ 89	$ 30	$ 144	$ 395

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016
Operating activities
Net income	$ 130,338	$ 77,243
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	28,228	24,841
Amortization of intangibles	18,407	13,384
Impairment of goodwill and intangible assets		14,809
Provision for bad debts	1,586
Impairment of long-lived assets		1,391
Non-cash inventory charge	1,607	7,456
Loss on sale of property, plant, and equipment	584	440
Stock-based compensation	12,437	9,166
Excess tax benefit on share-based compensation		(2,272)
Deferred income taxes	1,863
Changes in operating assets and liabilities:
Trade receivables	(26,792)	(17,973)
Inventories	(17,159)	4,505
Accounts payable	9,448	7,845
Accrued expenses (including post-retirement)	1,757	6,497
Accrued payroll and severance	(3,788)	1,388
Accrued income taxes	7,267	(23,613)
Prepaid expenses and other current assets	15,537	(25,092)
Net cash provided by operating activities	181,320	100,015
Investing activities
Acquisitions of businesses, net of cash acquired	(38,610)	(468,636)
Proceeds from maturities of short-term investments	3,739	345
Decrease in entrusted loan	3,599	4,056
Purchases of property, plant, and equipment	(48,470)	(34,501)
Proceeds from sale of property, plant, and equipment	541	255
Net cash used in investing activities	(79,201)	(498,481)
Financing activities:
Proceeds of revolving credit facility	15,000	258,000
Proceeds of term loan		234,000
Proceeds of senior notes payable	125,000
Payments of term loan	(4,687)	(119,125)
Payments of revolving credit facility	(112,500)	(97,500)
Net (payments) proceeds related to stock-based award activities	(2,336)	14,581
Payments of entrusted loan	(3,599)	(4,056)
Debt issuance costs	(2)	(1,701)
Cash dividends paid	(23,367)	(20,405)
Excess tax benefit on share-based compensation		2,272
Purchases of common stock		(3,685)
Net cash (used in) provided by financing activities	(6,491)	262,381
Effect of exchange rate changes on cash and cash equivalents	2,076	1,793
Increase (decrease) in cash and cash equivalents	97,704	(134,292)
Cash and cash equivalents at beginning of period	275,124	328,786
Cash and cash equivalents at end of period	372,828	194,494
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	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Nature of Operations Littelfuse, Inc. and subsidiaries (the “ Company”) is one Basis of Presentation The Company’s accompanying unaudited Condensed 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%. September 30, 2017, no In the third 2016, reporting unit was impaired. The fair value of the unit was estimated using the expected present value of future cash flows over a seven $14.8 $8.8 $6.0 third $3.8 $0.7 $2.2 zero 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. $0.1 $1.9 three nine September 30, 2017, not no Recently Issued Accounting Standards In March 2017, No. 2017 07 715 No. 2017 07 first 2018 January 1, 2017, three nine September 30, 2017 not 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. In January 2016, No. 2016 01, Financial Instruments-Recognition and Measurement of Financial Assets and Financial Liabilities” which addresses certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. The ASU will require the Company to recognize any changes in the fair value of certain equity investments in net income. These changes are currently recognized in other comprehensive income ("OCI"). This guidance is effective for interim and fiscal years beginning after December 15, 2017. 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 twelve December 15, 2018, first 2019. 2016 02.

Note 2 - Acquisitions

Note 2 - Acquisitions	9 Months Ended
	Sep. 30, 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, 2017 IXYS Corporation On August 28, 2017, 3,500 The Company will acquire all outstanding shares of common stock of IXYS in exchange for a combination of cash and shares of common stock of the Company. Each IXYS stockholder will be entitled to elect to receive, per IXYS share, either $23.00 0.1265 50% equity value of the transaction at the announcement was approximately $750 not may The transaction is expected to close in the first 2018 The Company expects to finance the cash portion of the transaction consideration through a combination of existing cash and additional debt. U.S. Sensor O n July 7, 2017, $24.4 . The final purchase price is subject to adjustment for finalization of income tax gross up which is expected to be settled in the fourth 2017. expands the Company’s existing sensor portfolio in several key electronics and industrial end markets. U.S. Sensor manufactures a variety of high quality negative temperature coefficient thermistors as well as thermistor probes and assemblies. Product lines also include thin film platinum resistance temperature detectors (“RTDs”) and RTD assemblies. The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the U.S. Sensor acquisition: (in thousands) Purchase Price Allocation Total purchase consideration: Cash $ 24,439 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 4,755 Patented and unpatented technologies 1,090 Trademarks and tradenames 200 Non-compete agreement 50 Customer relationships 2,830 Goodwill 16,054 Current liabilities (540 ) $ 24,439 All U.S. Sensor 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 U.S. Sensor’s products and technology with the Company’s existing electronics product portfolio. Goodwill for the above acquisition is expected to be deductible for tax purposes. As required by purchase accounting rules, the Company recorded a $1.6 The step-up was amortized as a non-cash charge to cost of goods sold during the third 2017, 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 condensed 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 The purchase price allocations for U.S. Sensor and Monolith are preliminary because the evaluations necessary to assess the fair values of the net assets acquired are still in process. The primary areas that are not other intangible assets. 2016 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 final purchase price allocation of the fair value of assets acquired and liabilities assumed in the ON Portfolio acquisition: (in thousands) Purchase 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 final 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 final 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 Company’s expected future product sales and synergies from combining PolySwitch products with the Company’s existing automotive and electronics product portfolio. $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 nine October 1, 2016 January 3, 2016. not not not January 3, 2016 (in thousands) Three Months Ended October 1 , 2016 Nine Months Ended October 1 , 2016 Net sales $ 290,377 $ 846,127 Income before income taxes 32,760 110,982 Net income 33,119 96,819 Net income — basic 1.47 4.30 Net income — diluted 1.46 4.27 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	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	3 . Inventories The components of inventories at September 30, 2017 December 31, 2016 (in thousands) September 30 , 2017 December 31, 2 016 Raw materials $ 38,320 $ 32,231 Work in process 28,477 23,354 Finished goods 69,708 58,478 Total $ 136,505 $ 114,063

Note 4 - Debt

Note 4 - Debt	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	4 . Debt The carrying amounts of debt at September 30, 2017 December 31, 2016 (in thousands ) September 30 , 2017 December 31, 2016 Revolving credit facility $ 15,000 $ 112,500 Term loan 115,625 120,313 Entrusted loan — 3,522 Euro Senior Notes, Series A due 2023 137,670 122,313 Euro Senior Notes, Series B due 2028 111,784 99,314 USD Senior Notes, Series A due 2022 25,000 — USD Senior Notes, Series B due 2027 100,000 — Unamortized debt issuance costs (3,432 ) (3,820 ) Total debt 501,647 454,142 Less: Current maturities (9,375 ) (6,250 ) Total long-term debt $ 492,272 $ 447,892 Revolving Credit Facility / Term Loan On October 13, 2017, Credit Agreement to increase the unsecured revolving credit facility from $575.0 $700.0 $125.0 $200.0 March 4, 2021 October 13, 2022. $300.0 may two first October 13, 2017 second not $75.0 first 2018. 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%, 2.73% September 30, 2017. As of September 30, 2017, $0.1 $559.9 September 30, 2017, 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 September 30, 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. September 30, 2017.

Note 5 - Fair Value of Assets a

Note 5 - Fair Value of Assets and Liabilities	9 Months Ended
	Sep. 30, 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 September 30, 2017 September 30, 2017 December 31, 2016, not The following table presents assets measured at fair value by classification within the fair value hierarchy as of September 30, 2017: Fair Value Measurements Using (in thousands ) Quoted Prices in Significant Other Significant Unobservable Total Investment in Polytronics $ 10,582 $ — $ — $ 10,582 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 September 30, 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 September 30, 2017 December 31, 2016 September 30 , 2017 December 31, 2016 (in thousands ) Carrying Value Estimated Fair Value Carrying V alue Estimated Fair Value Euro Senior Notes, Series A due 2023 $ 137,670 $ 137,581 $ 122,313 $ 122,586 Euro Senior Notes, Series B due 2028 111,784 110,550 99,314 99,230 USD Senior Notes, Series A due 2022 25,000 24,938 — — USD Senior Notes, Series B due 2027 100,000 99,884 — —

Note 6 - Benefit Plans

Note 6 - Benefit Plans	9 Months Ended
	Sep. 30, 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 nine September 30, 2017 October 1, 2016 For the Three Months Ended For the Nine Months Ended (in thousands) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Components of net periodic benefit cost: Service cost $ 408 $ 332 $ 1,224 $ 997 Interest cost 360 496 1,080 1,489 Expected return on plan assets (476 ) (520 ) (1,428 ) (1,560 ) Amortization , net 84 74 252 220 Net periodic benefit cost $ 376 $ 382 $ 1,128 $ 1,146 The expected return on pension assets is 4.5% 4.9% 2017 2016, not 2017.

Note 7 - Accumulated Other Comp

Note 7 - Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	7. Accumulated Other Comprehensive Income (Loss) The following table sets forth the changes in the components of Accumulated Other Comprehensive Income (Loss) by component for the nine September 30, 2017: (in thousands ) Pension and postretirement liability and reclassification adjustments (a) Unrealized g ain /(loss) 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 (441 ) (1,235 ) 2,912 1,236 Balance at September 30, 2017 $ (12,424 ) $ 9,534 $ (70,453 ) $ (73,343 ) (a) The balances at September 30, 2017 December 31, 2016 $1.2 $1.1

Note 8 - Income Taxes

Note 8 - Income Taxes	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. The effective tax rates for the three nine September 30, 2017 22.9% 18.7%, three nine October 1, 2016 1.2% 15.6%, 2017 2016 one one no

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	9 Months Ended
	Sep. 30, 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 Nine Months Ended (in thousands, except per share amounts) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Numerator: Net income as reported $ 42,808 $ 30,802 $ 130,338 $ 77,243 Denominator: Weighted average shares outstanding Basic 22,713 22,578 22,678 22,515 Effect of dilutive securities 240 156 228 160 Diluted 22,953 22,734 22,906 22,675 Earnings Per Share: Basic earnings per share $ 1.88 $ 1.36 $ 5.75 $ 3.43 Diluted earnings per share $ 1.87 $ 1.35 $ 5.69 $ 3.41 Potential shares of common stock relating to stock options excluded from the earnings per share calculation because their effect would be anti-dilutive were 30,579 76,845 three September 30, 2017 October 1, 2016, 35,858 45,591 nine September 30, 2017 October 1, 2016,

Note 10 - Segment Information

Note 10 - Segment Information	9 Months Ended
	Sep. 30, 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 The Company does not not not not not not one may ● Electronics Segment : Provides circuit protection components for overcurrent and overvoltage protection, as well as power control products and 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: Provides circuit protection and sensor products to the worldwide automotive original equipment manufacturers (“OEM”) and parts distributors of passenger automobiles, trucks, buses, and off-road equipment. In addition, the Company supplies heavy duty power distribution modules, switches and relays to the commercial vehicle industry. The Company also sells its fuses, including blade fuses and high current fuses, battery cable protectors, and varistors, in the automotive replacement parts market. The Company also supplies wiring harness manufacturers and auto parts suppliers worldwide. ● Industrial Segment: Provides circuit protection products for industrial and commercial customers. Products include power fuses and other circuit protection devices, including protection and time delay relays, which are used in commercial and industrial buildings and large equipment such as HVAC systems, elevators, and machine tools. The Company also supplies industrial ground fault protection in mining and other large industrial operations. Segment information is summarized as follows: For the Three Months Ended For the Nine Months Ended (in thousands ) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Net sales Electronics $ 175,899 $ 147,730 $ 499,052 $ 378,696 Automotive 113,797 106,341 338,094 309,644 Industrial 28,193 26,260 79,539 83,301 Total net sales $ 317,889 $ 280,331 $ 916,685 $ 771,641 Depreciation and amortization Electronics $ 8,986 $ 7,694 $ 26,080 $ 20,783 Automotive 5,622 4,627 16,572 12,881 Industrial 1,338 1,733 3,982 4,561 Other — (937 ) — — Total depreciation and amortization $ 15,946 $ 13,117 $ 46,634 $ 38,225 Operating income (loss) Electronics $ 44,345 $ 34,571 $ 122,518 $ 82,246 Automotive 16,821 15,032 47,599 48,997 Industrial 3,757 57 5,769 3,758 Other (a) (6,314 ) (22,134 ) (8,155 ) (45,345 ) Total operating income 58,609 27,526 167,731 89,656 Interest expense 3,467 2,571 9,868 6,286 Foreign exchange loss (gain) 632 (4,700 ) (1,483 ) (7,114 ) Other income, net (1,013 ) (778 ) (962 ) (1,040 ) Income before income taxes $ 55,523 $ 30,433 $ 160,308 $ 91,524 (a) Included in “Other” Operating income (loss) for the 2017 third $4.8 $6.6 $1.6 $1.6 2017 2 $1.5 $1.5 Included in “Other” Operating income (loss) for the 2016 third $14.8 14.8 goodwill and other intangible assets within the custom products reporting unit, $5.9 $18.2 2016 $0.6 $7.5 2016 2, $1.9 $1.7 $0.9 $1.3 The Company’s net sales by country were as follows: For the Three Months Ended For the Nine Months Ended (in thousands ) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Net sales United States $ 103,233 $ 92,475 $ 290,538 $ 270,659 China (a) 82,986 70,215 240,731 181,134 Other countries 131,670 117,641 385,416 319,848 Total net sales $ 317,889 $ 280,331 $ 916,685 $ 771,641 (a) Included in China are net sales in China and Hong Kong. The Company’s long-lived assets by country, as of September 30, 2017 December 31, 2016, (in thousands ) September 30 , 2017 December 31, 2016 Long-lived assets United States $ 23,922 $ 23,731 China (a) 80,616 65,345 Mexico 61,664 52,262 Philippines 30,760 33,345 Other countries 47,912 42,492 Total long-lived assets $ 244,874 $ 217,175 (a) Included in China are long-lived assets in China and Hong Kong. The Company’s additions to long-lived assets by country were as follows: For the Nine Months Ended (in thousands ) September 30, 2017 October 1 , 2016 Additions to long-lived assets United States $ 2,752 $ 4,485 China (a) 22,165 8,272 Mexico 15,041 12,312 Philippines 2,018 4,054 Other countries 6,494 5,378 Total additions to long-lived assets $ 48,470 $ 34,501 (a) Included in China are additions to long-lived assets in China and Hong Kong.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The Company’s accompanying unaudited Condensed 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%. September 30, 2017, no In the third 2016, reporting unit was impaired. The fair value of the unit was estimated using the expected present value of future cash flows over a seven $14.8 $8.8 $6.0 third $3.8 $0.7 $2.2 zero
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. $0.1 $1.9 three nine September 30, 2017, not no Recently Issued Accounting Standards In March 2017, No. 2017 07 715 No. 2017 07 first 2018 January 1, 2017, three nine September 30, 2017 not 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. In January 2016, No. 2016 01, Financial Instruments-Recognition and Measurement of Financial Assets and Financial Liabilities” which addresses certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. The ASU will require the Company to recognize any changes in the fair value of certain equity investments in net income. These changes are currently recognized in other comprehensive income ("OCI"). This guidance is effective for interim and fiscal years beginning after December 15, 2017. 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 twelve December 15, 2018, first 2019. 2016 02.

Note 2 - Acquisitions (Tables)

Note 2 - Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in thousands) Purchase Price Allocation Total purchase consideration: Cash $ 24,439 Allocation of consideration to assets acquired and liabilities assumed: Current assets, net $ 4,755 Patented and unpatented technologies 1,090 Trademarks and tradenames 200 Non-compete agreement 50 Customer relationships 2,830 Goodwill 16,054 Current liabilities (540 ) $ 24,439 (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) Purchase 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 October 1 , 2016 Nine Months Ended October 1 , 2016 Net sales $ 290,377 $ 846,127 Income before income taxes 32,760 110,982 Net income 33,119 96,819 Net income — basic 1.47 4.30 Net income — diluted 1.46 4.27

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(in thousands) September 30 , 2017 December 31, 2 016 Raw materials $ 38,320 $ 32,231 Work in process 28,477 23,354 Finished goods 69,708 58,478 Total $ 136,505 $ 114,063

Note 4 - Debt (Tables)

Note 4 - Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	(in thousands ) September 30 , 2017 December 31, 2016 Revolving credit facility $ 15,000 $ 112,500 Term loan 115,625 120,313 Entrusted loan — 3,522 Euro Senior Notes, Series A due 2023 137,670 122,313 Euro Senior Notes, Series B due 2028 111,784 99,314 USD Senior Notes, Series A due 2022 25,000 — USD Senior Notes, Series B due 2027 100,000 — Unamortized debt issuance costs (3,432 ) (3,820 ) Total debt 501,647 454,142 Less: Current maturities (9,375 ) (6,250 ) Total long-term debt $ 492,272 $ 447,892

Note 5 - Fair Value of Assets22

Note 5 - Fair Value of Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 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 $ 10,582 $ — $ — $ 10,582 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]	September 30 , 2017 December 31, 2016 (in thousands ) Carrying Value Estimated Fair Value Carrying V alue Estimated Fair Value Euro Senior Notes, Series A due 2023 $ 137,670 $ 137,581 $ 122,313 $ 122,586 Euro Senior Notes, Series B due 2028 111,784 110,550 99,314 99,230 USD Senior Notes, Series A due 2022 25,000 24,938 — — USD Senior Notes, Series B due 2027 100,000 99,884 — —

Note 6 - Benefit Plans (Tables)

Note 6 - Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	For the Three Months Ended For the Nine Months Ended (in thousands) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Components of net periodic benefit cost: Service cost $ 408 $ 332 $ 1,224 $ 997 Interest cost 360 496 1,080 1,489 Expected return on plan assets (476 ) (520 ) (1,428 ) (1,560 ) Amortization , net 84 74 252 220 Net periodic benefit cost $ 376 $ 382 $ 1,128 $ 1,146

Note 7 - Accumulated Other Co24

Note 7 - Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 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 /(loss) 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 (441 ) (1,235 ) 2,912 1,236 Balance at September 30, 2017 $ (12,424 ) $ 9,534 $ (70,453 ) $ (73,343 )

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended For the Nine Months Ended (in thousands, except per share amounts) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Numerator: Net income as reported $ 42,808 $ 30,802 $ 130,338 $ 77,243 Denominator: Weighted average shares outstanding Basic 22,713 22,578 22,678 22,515 Effect of dilutive securities 240 156 228 160 Diluted 22,953 22,734 22,906 22,675 Earnings Per Share: Basic earnings per share $ 1.88 $ 1.36 $ 5.75 $ 3.43 Diluted earnings per share $ 1.87 $ 1.35 $ 5.69 $ 3.41

Note 10 - Segment Information (

Note 10 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended For the Nine Months Ended (in thousands ) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Net sales Electronics $ 175,899 $ 147,730 $ 499,052 $ 378,696 Automotive 113,797 106,341 338,094 309,644 Industrial 28,193 26,260 79,539 83,301 Total net sales $ 317,889 $ 280,331 $ 916,685 $ 771,641 Depreciation and amortization Electronics $ 8,986 $ 7,694 $ 26,080 $ 20,783 Automotive 5,622 4,627 16,572 12,881 Industrial 1,338 1,733 3,982 4,561 Other — (937 ) — — Total depreciation and amortization $ 15,946 $ 13,117 $ 46,634 $ 38,225 Operating income (loss) Electronics $ 44,345 $ 34,571 $ 122,518 $ 82,246 Automotive 16,821 15,032 47,599 48,997 Industrial 3,757 57 5,769 3,758 Other (a) (6,314 ) (22,134 ) (8,155 ) (45,345 ) Total operating income 58,609 27,526 167,731 89,656 Interest expense 3,467 2,571 9,868 6,286 Foreign exchange loss (gain) 632 (4,700 ) (1,483 ) (7,114 ) Other income, net (1,013 ) (778 ) (962 ) (1,040 ) Income before income taxes $ 55,523 $ 30,433 $ 160,308 $ 91,524
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 Nine Months Ended (in thousands ) September 30 , 2017 October 1 , 2016 September 30 , 2017 October 1 , 2016 Net sales United States $ 103,233 $ 92,475 $ 290,538 $ 270,659 China (a) 82,986 70,215 240,731 181,134 Other countries 131,670 117,641 385,416 319,848 Total net sales $ 317,889 $ 280,331 $ 916,685 $ 771,641 (in thousands ) September 30 , 2017 December 31, 2016 Long-lived assets United States $ 23,922 $ 23,731 China (a) 80,616 65,345 Mexico 61,664 52,262 Philippines 30,760 33,345 Other countries 47,912 42,492 Total long-lived assets $ 244,874 $ 217,175 For the Nine Months Ended (in thousands ) September 30, 2017 October 1 , 2016 Additions to long-lived assets United States $ 2,752 $ 4,485 China (a) 22,165 8,272 Mexico 15,041 12,312 Philippines 2,018 4,054 Other countries 6,494 5,378 Total additions to long-lived assets $ 48,470 $ 34,501

Note 1 - Summary of Significa27

Note 1 - Summary of Significant Accounting Policies and Other Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016	Oct. 02, 2016
Goodwill and Intangible Asset Impairment		$ 14,809		$ 14,809
Income Tax Expense (Benefit)	12,715	(369)	29,970	14,281
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (100)		$ (1,900)
Relay Unit [Member]
Intangible Assets, Net (Including Goodwill)					$ 41,400
Excess Of Fair Value Over Carrying Value Of Invested Capital					15.00%
Industrial [Member] | Custom Products Reporting Unit [Member]
Goodwill and Intangible Asset Impairment		14,800
Goodwill, Impairment Loss		8,800
Impairment of Intangible Assets (Excluding Goodwill)		6,000
Industrial [Member] | Custom Products Reporting Unit [Member] | Trade Names [Member]
Impairment of Intangible Assets (Excluding Goodwill)		3,800
Intangible Assets, Net (Excluding Goodwill)		700		700
Industrial [Member] | Custom Products Reporting Unit [Member] | Customer Relationships [Member]
Impairment of Intangible Assets (Excluding Goodwill)		2,200
Intangible Assets, Net (Excluding Goodwill)		$ 0		$ 0

Note 2 - Acquisitions (Details

Note 2 - Acquisitions (Details Textual) $ / shares in Units, $ in Thousands	Aug. 28, 2017USD ($)$ / shares	Jul. 07, 2017USD ($)	Mar. 01, 2017USD ($)	Feb. 28, 2017USD ($)	Aug. 29, 2016USD ($)	Apr. 04, 2016USD ($)	Mar. 25, 2016USD ($)	Jul. 01, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Electronics [Member]
Goodwill, Acquired During Period							$ 103,800
Automotive [Member]
Goodwill, Acquired During Period							61,300
Monolith [Member]
Cost Method Investments									$ 3,500	$ 3,500
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners										12.00%
IXYS Corporation [Member]
Business Acquisition, Share Price | $ / shares	$ 23
Business Acquisition, Share Exchange Ratio	0.1265
Business Acquisition, Cash Election Option, Percentage	50.00%
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 750,000
U.S. Sensor [Member]
Payments to Acquire Businesses, Gross		$ 24,439
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory		$ 1,600
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	$ 3,500
ON Portfolio [Member]
Payments to Acquire Businesses, Gross					$ 104,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory					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 Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory						$ 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 Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory							$ 6,900
Business Acquisition, Percentage of Voting Interests Acquired							100.00%
Business Combination, Consideration Transferred							$ 348,292
Business Acquisition, Goodwill, Expected Tax Deductible Amount							$ 64,900
Payments for Previous Acquisition								$ 3,800
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
IXYS Corporation [Member]
Number of Customers	3,500

Note 2 - Acquisitions - Prelimi

Note 2 - Acquisitions - Preliminary Price Allocation (Details) - USD ($) $ in Thousands	Jul. 07, 2017	Mar. 01, 2017	Feb. 28, 2017	Aug. 29, 2016	Apr. 04, 2016	Mar. 25, 2016	Sep. 30, 2017	Oct. 01, 2016	Dec. 31, 2016
Goodwill							$ 451,131		$ 403,544
Cash, net of cash acquired							38,610	$ 468,636
Fair value of commitment to purchase non-controlling interest							$ 9,000
U.S. Sensor [Member]
Cash	$ 24,439
Current assets, net	4,755
Goodwill	16,054
Current liabilities	(540)
	24,439
U.S. Sensor [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	1,090
U.S. Sensor [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill	2,830
U.S. Sensor [Member] | Trademarks and Trade Names [Member]
Intangible assets, other than goodwill	200
U.S. Sensor [Member] | Noncompete Agreements [Member]
Intangible assets, other than goodwill	$ 50
Monolith [Member]
Current assets, net		$ 891
Goodwill		20,641
Current liabilities		(639)
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
Property, plant, and equipment		789
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
ON Portfolio [Member]
Cash				$ 104,000
Current assets, net				4,816
Goodwill				56,084
				104,000
Total purchase consideration				104,000
ON Portfolio [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill				8,800
ON Portfolio [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill				31,800
ON Portfolio [Member] | Noncompete Agreements [Member]
Intangible assets, other than goodwill				$ 2,500
Menber's S.p.A. [Member]
Current assets, net					$ 12,919
Goodwill					8,091
Current liabilities					(7,220)
					19,162
Cash, net of cash acquired					19,162
Property, plant, and equipment					1,693
Other non-current liabilities					(1,444)
Total purchase consideration					19,200
Menber's S.p.A. [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill					224
Menber's S.p.A. [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill					3,050
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
Goodwill						165,088
Current liabilities						(35,280)
						348,292
Property, plant, and equipment						51,613
Other non-current liabilities						(5,020)
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
Land lease						4,290
Other long-term assets						11,228
PolySwitch [Member] | Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill						56,425
PolySwitch [Member] | Customer Relationships [Member]
Intangible assets, other than goodwill						$ 39,720

Note 2 - Acquisitions - Busines

Note 2 - Acquisitions - Business Acquisition Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2016	Oct. 01, 2016
Net sales	$ 290,377	$ 846,127
Income before income taxes	32,760	110,982
Net income	$ 33,119	$ 96,819
Net income — basic (in dollars per share)	$ 1.47	$ 4.30
Net income — diluted (in dollars per share)	$ 1.46	$ 4.27

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Raw materials	$ 38,320	$ 32,231
Work in process	28,477	23,354
Finished goods	69,708	58,478
Total	$ 136,505	$ 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 ($)

Oct. 13, 2017USD ($)

Oct. 12, 2017USD ($)

Sep. 30, 2017USD ($)

Dec. 31, 2016USD ($)

Dec. 27, 2014USD ($)

Dec. 27, 2014CNY (¥)

Entrusted Loan

$ 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]

Proceeds from Notes Payable

$ 125,000

U.S. Senior Notes, Series A [Member]

Proceeds from Notes Payable

$ 25,000

Debt Instrument, Interest Rate, Stated Percentage

3.03%

U.S. Senior Notes, Series B [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

$ 17,900

¥ 110

Credit Agreement [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 700,000

Line of Credit Facility, Additional Uncommitted Borrowing Capacity

$ 150,000

$ 300,000

Number of Advances

2

Second Advance, Maximum Amount

$ 75,000

Line of Credit Facility, Expiration Period

5 years

Line of Credit Facility, Additional Uncommitted Borrowing Capacity, Minimum Increments

$ 25,000

Debt Instrument, Interest Rate, Effective Percentage

2.73%

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

700,000

$ 575,000

Line of Credit Facility, Remaining Borrowing Capacity

$ 559,900

Credit Agreement [Member] | Term Loan Credit Facility [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 125,000

$ 200,000

$ 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	Sep. 30, 2017	Dec. 31, 2016
Revolving credit facility	$ 15,000	$ 112,500
Term loan	115,625	120,313
Entrusted loan		3,522
Unamortized debt issuance costs	(3,432)	(3,820)
Total debt	501,647	454,142
Less: Current maturities	9,375	6,250
Total long-term debt	492,272	447,892
Euro Senior Notes, Series A [Member]
Senior Notes	137,670	122,313
Euro Senior Notes, Series B [Member]
Senior Notes	111,784	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 Assets34

Note 5 - Fair Value of Assets and Liabilities (Details Textual) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets, Fair Value Disclosure	$ 0	$ 0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 0	$ 0

Note 5 - Fair Value of Assets35

Note 5 - Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - Polytronics [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Investment in Polytronics	$ 10,582	$ 10,435
Fair Value, Inputs, Level 1 [Member]
Investment in Polytronics	10,582	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 Assets36

Note 5 - Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Euro Senior Notes, Series A [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	$ 137,670	$ 122,313
Euro Senior Notes, Series A [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	137,581	122,586
Euro Senior Notes, Series B [Member] | Reported Value Measurement [Member]
Senior Notes, Fair Value	111,784	99,314
Euro Senior Notes, Series B [Member] | Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	110,550	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	24,938
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	$ 99,884

Note 6 - Benefit Plans (Details

Note 6 - Benefit Plans (Details Textual)	9 Months Ended
	Sep. 30, 2017	Oct. 01, 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		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Service cost	$ 408	$ 332	$ 1,224	$ 997
Interest cost	360	496	1,080	1,489
Expected return on plan assets	(476)	(520)	(1,428)	(1,560)
Amortization, net	84	74	252	220
Net periodic benefit cost	$ 376	$ 382	$ 1,128	$ 1,146

Note 7 - Accumulated Other Co39

Note 7 - Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ in Millions	Sep. 30, 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 - Accumulated Other Co40

Note 7 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Balance	$ 814,931
Balance	933,244
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(11,983)	[1]
Activity in the period	(441)
Balance	(12,424)	[1]
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
Balance	10,769	[1]
Activity in the period	(1,235)
Balance	9,534
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(73,365)	[1]
Activity in the period	2,912
Balance	(70,453)
Accumulated Other-than-Temporary Impairment Including Portion Attributable to Noncontrolling Interest [Member]
Balance	(74,579)	[1]
Activity in the period	1,236
Balance	$ (73,343)
[1]	The balances at September 30, 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		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Effective Income Tax Rate Reconciliation, Percent	22.90%	1.20%	18.70%	15.60%

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	30,579	76,845	35,858	45,591

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		9 Months Ended
	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Net income	$ 42,808	$ 30,802	$ 130,338	$ 77,243
Basic (in shares)	22,713	22,578	22,678	22,515
Effect of dilutive securities (in shares)	240	156	228	160
Diluted (in shares)	22,953	22,734	22,906	22,675
Earnings Per Share:
Basic earnings per share (in dollars per share)	$ 1.88	$ 1.36	$ 5.75	$ 3.43
Diluted earnings per share (in dollars per share)	$ 1.87	$ 1.35	$ 5.69	$ 3.41

Note 10 - Segment Information44

Note 10 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Oct. 01, 2016USD ($)	Sep. 30, 2017USD ($)	Oct. 01, 2016USD ($)
Number of Operating Segments			3
Goodwill and Intangible Asset Impairment		$ 14,809		$ 14,809
Other Segments [Member] | Operating Income (Loss) [Member]
Business Combination, Acquisition Related Costs	4,800	5,900	6,600	18,200
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory	1,600	600	1,600	7,500
Restructuring Charges	$ 1,500		$ 1,500
Goodwill and Intangible Asset Impairment		14,800		14,800
Legal Fees		$ 900		1,300
Other Segments [Member] | Operating Income (Loss) [Member] | Facility Closing [Member]
Restructuring Charges				1,900
Other Segments [Member] | Operating Income (Loss) [Member] | Facility Relocation [Member]
Restructuring Charges				$ 1,700

Note 10 - Segment Information -

Note 10 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016
Net sales		$ 317,889	$ 280,331	$ 916,685	$ 771,641
Depreciation and amortization		15,946	13,117	46,634	38,225
Operating income		58,609	27,526	167,731	89,656
Interest expense		3,467	2,571	9,868	6,286
Foreign exchange loss (gain)		632	(4,700)	(1,483)	(7,114)
Other income, net		(1,013)	(778)	(962)	(1,040)
Income before income taxes		55,523	30,433	160,308	91,524
Electronics [Member]
Net sales		175,899	147,730	499,052	378,696
Depreciation and amortization		8,986	7,694	26,080	20,783
Operating income		44,345	34,571	122,518	82,246
Automotive [Member]
Net sales		113,797	106,341	338,094	309,644
Depreciation and amortization		5,622	4,627	16,572	12,881
Operating income		16,821	15,032	47,599	48,997
Industrial [Member]
Net sales		28,193	26,260	79,539	83,301
Depreciation and amortization		1,338	1,733	3,982	4,561
Operating income		3,757	57	5,769	3,758
Other Segments [Member]
Depreciation and amortization			(937)
Operating income	[1]	$ (6,314)	$ (22,134)	$ (8,155)	$ (45,345)
[1]	Included in "Other" Operating income (loss) for the 2017 third quarter is $4.8 million ($6.6 million year-to-date) of acquisition-related and integration charges associated with the company's acquisitions, $1.6 million ($1.6 million year-to-date) of purchase accounting inventory charges related to the company's 2017 acquisition of US Sensor as described in Note 2 and $1.5 million ($1.5 million year-to-date) of charges related to restructuring and production transfers in our Asia operations. Included in "Other' Operating income (loss) for the 2016 third quarter is $14.8 million (14.8 million year-to-date) of charges related to the impairment of goodwill and other intangible assets within the custom products reporting unit, $5.9 million ($18.2 million year-to-date) of acquisition-related and integration charges associated with the company's 2016 acquisitions, $0.6 million ($7.5 million year-to-date) of non-cash inventory charges relating to the company’s 2016 acquisitions as described in Note 2, $1.9 million year-to-date in charges related to the closure of the company's manufacturing facility in Denmark, $1.7 million year-to-date related to the company's transfer of its reed sensor manufacturing operations from the U.S. and China to the Philippines and $0.9 million ($1.3 million year-to-date) related to internal legal restructuring costs.

Note 10 - Segment Information46

Note 10 - Segment Information - Revenues and Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2017	Oct. 01, 2016	Sep. 30, 2016	Dec. 31, 2016
Net sales		$ 317,889	$ 280,331	$ 916,685	$ 771,641
Long-lived assets		244,874		244,874			$ 217,175
Additions to long-lived assets				48,470		$ 34,501
UNITED STATES
Net sales		103,233	92,475	290,538	270,659
Long-lived assets		23,922		23,922			23,731
Additions to long-lived assets				2,752		4,485
CHINA
Net sales	[1]	82,986	70,215	240,731	181,134
Long-lived assets	[1]	80,616		80,616			65,345
Additions to long-lived assets	[1]			22,165		8,272
Other Countries [Member]
Net sales		131,670	$ 117,641	385,416	$ 319,848
Long-lived assets		47,912		47,912			42,492
Additions to long-lived assets				6,494		5,378
MEXICO
Long-lived assets		61,664		61,664			52,262
Additions to long-lived assets				15,041		12,312
PHILIPPINES
Long-lived assets		$ 30,760		30,760			$ 33,345
Additions to long-lived assets				$ 2,018		$ 4,054
[1]	Included in China are net sales in China and Hong Kong.