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INCOME TAXES Income Taxes (Tables)

12 Months Ended

Jan. 03, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax expense consists of the following: 

		Successor												Predecessor
		Twelve Months Ended																Twelve Months Ended
		January 3, 2016				December 28, 2014				September 27 - December 29, 2013				April 29 - September 26, 2013				April 28, 2013
		(in millions)
Current income tax expense:
Federal		$	113.0			$	122.5			$	0.2			$	13.8			$	39.8
State		8.9				16.2				0.9				0.1				6.1
Foreign		9.8				16.3				0.2				2.5				5.5
		131.7				155.0				1.3				16.4				51.4
Deferred income tax expense (benefit):
Federal		66.8				43.6				7.4				7.1				(2.6		)
State		8.6				26.4				1.7				(11.4		)		(10.5		)
Foreign		(11.5		)		(8.0		)		5.4				0.6				7.8
		63.9				62.0				14.5				(3.7		)		(5.3		)
Total income tax expense		$	195.6			$	217.0			$	15.8			$	12.7			$	46.1

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of taxes computed at the federal statutory rate to the effective tax rate is as follows: 

		Successor									Predecessor
		Twelve Months Ended												Twelve Months Ended
		January 3, 2016			December 28, 2014			September 27 - December 29, 2013			April 29 - September 26, 2013			April 28, 2013
Federal income taxes at statutory rate		35.0	%		35.0	%		35.0	%		35.0	%		35.0	%
State income taxes, net of federal tax benefit		1.9			3.5			3.8			(10.6	)		(0.2	)
Foreign income taxes		(1.3	)		(3.4	)		16.4			10.4			(1.7	)
Net change in uncertain tax positions		(0.1	)		—			(1.8	)		(1.3	)		0.6
Net change in valuation allowance		—			(0.8	)		(20.1	)		(10.1	)		(4.8	)
Tax credits		(1.9	)		(0.8	)		(4.5	)		(6.5	)		(5.7	)
Manufacturer's deduction		(1.9	)		(1.6	)		(0.6	)		(0.2	)		(1.5	)
Foreign restructuring		(1.6	)		(2.3	)		—			—			—
Other		0.1			(1.5	)		3.1			3.0			(1.6	)
Effective tax rate		30.2	%		28.1	%		31.3	%		19.7	%		20.1	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences consist of the following: 

		January 3, 2016				December 28, 2014
		(in millions)
Deferred tax assets:
Pension and other retirement liabilities		$	178.9			$	222.3
Tax credits, carryforwards and net operating losses		50.8				54.8
Accrued expenses and other current liabilities		45.7				46.8
Derivatives		10.6				—
Employee benefits		25.4				24.8
Other		30.7				26.8
		342.1				375.5
Valuation allowance		(19.2		)		(34.9		)
Total deferred tax assets		$	322.9			$	340.6
Deferred tax liabilities:
Property, plant and equipment		$	519.9			$	508.6
Intangible assets		451.0				434.2
Derivatives		—				9.7
Investments in subsidiaries		9.3				20.0
Total deferred tax liabilities		$	980.2			$	972.5

Schedule of Classification of Deferred Taxes on Balance Sheet [Table Text Block]

The following table presents the classification of deferred taxes in our balance sheets as of January 3, 2016 and December 28, 2014: 

		January 3, 2016				December 28, 2014
		(in millions)
Prepaids and other current assets		$	—			$	65.6
Other assets		10.9				—
Deferred income taxes, net		668.2				697.5

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending liability for unrecognized tax benefits is as follows:

		(in millions)
Balance, April 28, 2013		$	15.7
Additions for tax positions taken in the current year		1.6
Reduction for tax positions taken in prior years		(0.2		)
Settlements with taxing authorities		(2.1		)
Lapse of statute of limitations		(1.1		)
Balance, December 29, 2013		13.9
Additions for tax positions taken in the current year		2.4
Additions for tax positions taken in prior years		0.4
Settlements with taxing authorities		(1.7		)
Lapse of statute of limitations		(1.3		)
Balance, December 28, 2014		13.7
Additions for tax positions taken in the current year		2.4
Reductions for tax positions taken in prior years		(0.8		)
Settlements with taxing authorities		(1.7		)
Lapse of statute of limitations		(2.4		)
Balance, January 3, 2016		$	11.2

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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