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Subsequent Events | 3 Months Ended
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Mar. 30, 2018
Subsequent Events [Abstract] |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS On April 23, 2018, the Company entered into a definitive agreement to acquire privately-held Viewpoint from Bain Capital in an all-cash transaction valued at $1.2 billion. Viewpoint is highly complementary to Trimble’s e-Builder business, and will extend Trimble's ability to provide more complete and integrated project, field and business workflows across the construction lifecycle. Viewpoint is a leading provider of construction management software, which integrates a contractor’s financial and resource management to their project operations and to their jobsite and field. The integration across the office, team and field workflows enables contractors to employ Viewpoint to effectively manage and gain visibility over data and workflows that span the construction lifecycle from pre-production planning, to product operations and supply chain management, through project hand over and asset operation and maintenance. The acquisition is highly complementary to Trimble’s construction technology portfolio and positions Trimble to further its strategy to lead the industry’s transformation. With Viewpoint, Trimble will be able to offer customers a central workflow platform for delivering integrated, end-to-end construction management, while further enabling connectivity across the complete construction lifecycle. In addition, Viewpoint will complement Trimble’s recent acquisition of e-Builder, a leading SaaS-based construction program management solution for capital program owners and program management firms. Viewpoint will further extend these capabilities with focus on general, specialty and heavy civil contractors, and linking project data into the owner-facing e-Builder suite for end-to-end project transparency. The transaction, which is expected to be completed in the third quarter of 2018, is subject to regulatory approvals, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, as well as other customary closing conditions. On April 23, 2018, the Company entered into a bridge loan commitment letter with a group of lenders (the “Bridge Commitment Letter”) in connection with the acquisition of Viewpoint. Pursuant to the Bridge Commitment Letter, the lenders party thereto has committed to provide a 364-day senior unsecured bridge term loan credit facility in an aggregate principal amount of up to $1.2 billion and, in the case of one lender, a $1.0 billion backstop revolving credit facility. The commitments under the Bridge Commitment Letter will expire on August 28, 2018. Any loan under the Bridge Commitment Letter would bear interest at (i) adjusted LIBOR plus a margin ranging from 1.000% to 1.875% or (ii) the adjusted base rate plus the applicable adjusted LIBOR margin minus 1.000%. The initial maturity date for the bridge facility is 364 days after the draw down date. The commitments under the Bridge Commitment Letter will be reduced by the amount of the term loan facility described below, once effective, and the net cash proceeds of a securities offering. In addition, on April 23, 2018, the Company entered a term loan commitment letter with a group of lenders (the “Term Commitment Letter”). Pursuant to the Term Commitment Letter, the lenders party thereto has committed to provide, subject to the terms and conditions thereof, a portion of a delayed draw term loan facility in an aggregate principal amount of up to $500 million, which would refinance and replace our 2014 Credit Facility. The term loan facility would bear interest at (i) adjusted LIBOR plus a margin ranging from 1.000% to 1.875% or (ii) the adjusted base rate plus the applicable adjusted LIBOR margin minus 1.000%. The maturity date for the term loan facility is three years after the date of funding. The Viewpoint business will be reported as part of Trimble’s Buildings and Infrastructure Segment.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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