XML 30 R19.htm IDEA: XBRL DOCUMENT

Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Schedule of summarized financial information depicting the impact of the new revenue standard

The Company’s historical net cash flows provided by or used in operating, investing, and financing activities are not impacted by adoption of the new revenue standard.

		13-Weeks Ended April 1, 2017
		As reported				Restated⁽¹⁾				Impact
Net sales		$	638,546			$	641,510			$	2,964
Gross profit			372,123				372,806				683
Operating income			116,345				117,028				683
Income tax (benefit)			(150,120	)			(150,029	)			91
Net income		$	237,812			$	238,404			$	592
Diluted net income per share		$	1.26			$	1.26			$	—

(1)

The Restated results presented above are restated under ASC Topic 606. Amounts related to the income tax effect of the new standard that were previously disclosed as the anticipated adoption impact in our press release attached as Exhibit 99.1 to our Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) on February 21, 2018 have been revised in this Note by immaterial amounts in connection with our adoption of ASC Topic 606.

		December 30, 2017												December 31, 2016

		As reported				Restated⁽²⁾				Impact				As reported				Restated⁽²⁾				Impact

Current assets:
Deferred costs		$	48,312			$	30,525			$	(17,787	)		$	47,395			$	34,665			$	(12,730	)
Total current assets			2,363,925				2,346,138				(17,787	)			2,263,016				2,250,286				(12,730	)
Deferred income taxes			199,343				195,981				(3,361	)			110,293				107,655				(2,638	)
Noncurrent deferred costs			73,851				33,029				(40,822	)			56,151				30,934				(25,217	)
Total assets		$	5,010,260			$	4,948,289			$	(61,971	)		$	4,525,133			$	4,484,549			$	(40,584	)
Current liabilities:
Deferred revenue			139,681				103,140				(36,541	)			146,564				118,496				(28,068	)
Total current liabilities			828,656				792,115				(36,541	)			782,735				754,667				(28,068	)
Deferred income taxes			75,215				76,612				1,396				61,220				62,617				1,397
Non-current deferred revenue			163,840				87,060				(76,780	)			140,407				91,238				(49,169	)
Retained earnings			2,368,874				2,418,444				49,570				2,056,702				2,092,221				35,519
Accumulated other comprehensive income			56,045				56,428				382				(36,761	)			(37,024	)			(263	)
Total stockholders' equity			3,802,466				3,852,419				49,954				3,418,003				3,453,259				35,256
Total liabilities and stockholders’ equity		$	5,010,260			$	4,948,289			$	(61,971	)		$	4,525,133			$	4,484,549			$	(40,584	)

		52-Weeks Ended December 30, 2017												53-Weeks Ended December 31, 2016

		As reported				Restated⁽²⁾				Impact				As reported				Restated⁽²⁾				Impact
Net sales		$	3,087,004			$	3,121,560			$	34,556			$	3,018,665			$	3,045,797			$	27,132
Gross profit			1,783,164				1,797,941				14,777				1,679,570				1,688,525				8,955
Operating income			668,860				683,637				14,777				623,909				632,864				8,955
Income tax (benefit) provision			(12,661	)			(11,936	)			725				118,856				120,901				2,045
Net income		$	694,955			$	709,007			$	14,052			$	510,814			$	517,724			$	6,910
Diluted net income per share		$	3.68			$	3.76			$	0.08			$	2.70			$	2.73			$	0.03

(2)

The Restated results presented above are restated under ASC Topic 606. Amounts related to the income tax effect of the new standard that were previously disclosed as the anticipated adoption impact in Note 2, Summary of Significant Accounting Policies, in the notes to the consolidated financial statements of our fiscal 2017 Annual Report on Form 10-K filed with the SEC on February 21, 2018 have been revised in this Note by immaterial amounts in connection with our adoption of ASC Topic 606.