Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 28, 2013

Inventories are stated at the lower of cost or market with cost being determined on a first-in, first-out (FIFO) basis. Inventories consisted of the following:

	December 28, 2013		December 29, 2012

Raw Materials	$	131,408	$	119,142
Work-in-process		50,110		53,656
Finished goods		229,089		243,238
Inventory Reserves		(28,381)		(26,105)
Inventory, net of reserves	$	382,226	$	389,931

Property, Plant and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the following estimated useful lives:

Buildings and improvements		39
Office furniture and equipment		3-5
Manufacturing and engineering equipment		5
Vehicles		5

Change in Carrying Amount of Goodwill

The Company’s excess purchase cost over fair value of net assets acquired (goodwill) was $179,290 at December 28, 2013 and $176,059 at December 29, 2012.

	December 28,		December 29,
	2013		2012
Goodwill balance at beginning of year	$	176,059	$	179,475
Acquisitions		2,726		3,470
Finalization of purchase price allocations and effect of foreign currency translation		505		(6,886)
Goodwill balance at end of year	$	179,290	$	176,059

Schedule of Product Warranty Liability

The following reconciliation provides an illustration of changes in the aggregate warranty reserve:

	Fiscal Year Ended
	December 28,		December 29,		December 31,
	2013		2012		2011

Balance - beginning of period	$	37,301	$	46,773	$	49,885
Change in accrual for products sold in prior periods⁽¹⁾		(8,709)		-		-
Accrual for products sold⁽²⁾		41,309		38,421		52,305
Expenditures		(43,134)		(47,893)		(55,417)
Balance - end of period	$	26,767	$	37,301	$	46,773

⁽¹⁾	Our expected future cost is estimated based upon historical trends in the volume of product returns and the related warranty costs incurred. In 2013 we updated these assumptions and shortened the estimated time horizon in which we settle claims with our retail partners.
⁽²⁾	Minor changes in cost estimates related to pre-existing warranties are aggregated with accruals for new warranty contracts in the ‘accrual for products sold’ line.