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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 29, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Components of inventories |
|  | September 29, 2012 |  | December 31, 2011 |
--- | --- | --- | --- | --- | ---
Raw materials and purchased parts |  | $ | 218,177 |  | $ | 202,953 |
Work-in-process |  |  | 40,298 |  |  | 28,053 |
Finished goods and manufactured goods |  |  | 221,620 |  |  | 212,312 |
Subtotal |  |  | 480,095 |  |  | 443,318 |
Less: LIFO reserve |  |  | 47,406 |  |  | 49,536 |
|  | $ | 432,689 |  | $ | 393,782 |
Summary of earnings before income taxes and equity in earnings of nonconsolidated subsidiaries |
|  | Thirteen Weeks Ended |  | Thirty-nine Weeks Ended |
--- | --- | --- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
United States |  | $ | 48,524 |  | $ | 33,005 |  | $ | 179,351 |  | $ | 95,325 |
Foreign |  |  | 36,829 |  |  | 32,828 |  |  | 74,532 |  |  | 70,056 |
|  | $ | 85,353 |  | $ | 65,833 |  | $ | 253,883 |  | $ | 165,381 |
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock option |
|  | Thirteen Weeks Ended September 29, 2012 |  | Thirteen Weeks Ended September 24, 2011 |  | Thirty-nine Weeks Ended September 29, 2012 |  | Thirty-nine Weeks Ended September 24, 2011 |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Compensation expense |  | $ | 1,245 |  | $ | 1,265 |  | $ | 3,735 |  | $ | 3,732 |
Income tax benefits |  |  | 479 |  |  | 487 |  |  | 1,438 |  |  | 1,437 |
Schedule of Trading Securities measured at fair value |
|  |  |  | Fair Value Measurement Using: |
--- | --- | --- | --- | --- | ---
|  | Carrying Value September 29, 2012 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Trading Securities |  | $ | 22,512 |  | $ | 22,512 |  | $ | — |  | $ | — |
|  |  |  | Fair Value Measurement Using: |
--- | --- | --- | --- | --- | ---
|  | Carrying Value December 31, 2011 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Trading Securities |  | $ | 19,152 |  | $ | 19,152 |  | $ | — |  | $ | — |
Components of accumulated other comprehensive income (loss) |
|  | September 29, 2012 |  | December 31, 2011 |
--- | --- | --- | --- | --- | ---
Foreign currency translation adjustment |  | $ | 36,272 |  | $ | 16,070 |
Actuarial gain in defined benefit pension plan |  |  | 53,912 |  |  | 51,317 |
Loss on cash flow hedge, net of amortization |  |  | (3,035 | ) |  | (3,335 | )
|  | $ | 87,149 |  | $ | 64,052 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic -SubTopic -Publisher SEC -Number 210 -Article 5 -Subparagraph a,b,c -Name Regulation S-X (SX) -Paragraph 6 -Section 2 + Details
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