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Interest Rate Swap (Tables)

3 Months Ended

Apr. 01, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets (Liabilities) at Fair Value

The assets and liabilities measured at fair value related to the Company’s interest rate swap, excluding accrued interest, were as follows (in thousands):

	Balance Sheet Location		April 1, 2017				December 31, 2016				March 26, 2016
Interest rate swap (short-term portion)	Prepaid expenses and other current assets / (Other accrued expenses)		$	101			$	(398	)		$	—
Interest rate swap (long-term portion)	Other assets		3,183				3,215				—
Total net assets			$	3,284			$	2,817			$	—

Derivative Instruments, Gain (Loss)

The following table summarizes the changes in AOCI, net of tax, related to the Company’s interest rate swap (in thousands):

		April 1, 2017				December 31, 2016				March 26, 2016
Beginning fiscal year AOCI balance		$	1,392			$	—			$	—
Current fiscal period gain recognized in OCI		281				1,392				—
Amounts reclassified from AOCI into current fiscal period earnings		—				—				—
Other comprehensive gain, net of tax		281				1,392				—
Ending fiscal period AOCI balance		$	1,673			$	1,392			$	—

The following table summarizes the impact of taxes affecting AOCI as a result of the interest rate swap (in thousands):

		Fiscal three months ended
		April 1, 2017				March 26, 2016
Income tax expense of interest rate swap on AOCI		$	180			$	—

The following table summarizes the impact of pre-tax gains and losses derived from the interest rate swap (in thousands):

			Fiscal three months ended
	Financial Statement Location		April 1, 2017				March 26, 2016
Effective portion of gains recognized in OCI during the period	Other comprehensive income		$	461			$	—
Amounts reclassified from AOCI into earnings	Interest expense, net		—				—
Ineffective portion of gains recognized in earnings during the period	Interest expense, net		6				—

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- References

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

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- Definition

Tabular disclosure of derivative liabilities at fair value.

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