v2.4.0.8
Redeemable Noncontrolling Interests
6 Months Ended
Jun. 29, 2013
Temporary Equity Disclosure [Abstract]  
Redeemable Noncontrolling Interests

Note 4Redeemable Noncontrolling Interests

 

Some minority shareholders in certain of our subsidiaries have the right, at certain times, to require us to acquire their ownership interest in those entities at fair value. Accounting Standards Codification (“ASC”) Topic 480-10 is applicable for noncontrolling interests where we are or may be required to purchase all or a portion of the outstanding interest in a consolidated subsidiary from the noncontrolling interest holder under the terms of a put option contained in contractual agreements. The components of the change in the Redeemable noncontrolling interests for the six months ended June 29, 2013 and the year ended December 29, 2012 are presented in the following table:

   June 29, December 29,
   2013 2012
Balance, beginning of period  $435,175 $402,050
Decrease in redeemable noncontrolling interests due to      
 redemptions   (5,124)  (23,637)
Increase in redeemable noncontrolling interests due to business      
 acquisitions  7,720  30,935
Net income attributable to redeemable noncontrolling interests   20,024  34,803
Dividends declared   (12,785)  (21,013)
Effect of foreign currency translation gain (loss) attributable to      
 redeemable noncontrolling interests   (2,554)  904
Change in fair value of redeemable securities   23,568  53,769
Other adjustment to redeemable noncontrolling interests   -  (42,636)
Balance, end of period  $466,024 $435,175

Changes in the estimated redemption amounts of the noncontrolling interests subject to put options are adjusted at each reporting period with a corresponding adjustment to Additional paid-in capital. Future reductions in the carrying amounts are subject to a “floor” amount that is equal to the fair value of the redeemable noncontrolling interests at the time they were originally recorded. The recorded value of the redeemable noncontrolling interests cannot go below the floor level. These adjustments do not impact the calculation of earnings per share.