Redeemable Noncontrolling Interests

6 Months Ended

Jul. 01, 2017

Temporary Equity Disclosure [Abstract]

Note 4 – Redeemable 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 July 1, 2017 and the year ended December 31, 2016 are presented in the following table:

		July 1,		December 31,
		2017		2016
Balance, beginning of period		$	607,636	$	542,194
Decrease in redeemable noncontrolling interests due to
	redemptions		(16,824)		(72,729)
Increase in redeemable noncontrolling interests due to business
	acquisitions		18,161		58,172
Net income attributable to redeemable noncontrolling interests			22,740		48,760
Dividends declared			(18,301)		(32,973)
Effect of foreign currency translation gain (loss) attributable to
	redeemable noncontrolling interests		4,601		(2,652)
Change in fair value of redeemable securities			129,009		66,864
Balance, end of period		$	747,022	$	607,636

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.