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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 29, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Components of inventories |
|  | June 29, 2013 |  | December 29, 2012 |
--- | --- | --- | --- | --- | ---
Raw materials and purchased parts |  | $ | 182,907 |  | $ | 199,808 |
Work-in-process |  |  | 39,385 |  |  | 36,114 |
Finished goods and manufactured goods |  |  | 233,584 |  |  | 222,284 |
Subtotal |  |  | 455,876 |  |  | 458,206 |
Less: LIFO reserve |  |  | 42,468 |  |  | 45,822 |
|  | $ | 413,408 |  | $ | 412,384 |
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries |
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended |
--- | --- | --- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
United States |  | $ | 98,684 |  | $ | 68,132 |  | $ | 187,421 |  | $ | 130,827 |
Foreign |  |  | 39,531 |  |  | 21,732 |  |  | 63,703 |  |  | 37,703 |
|  | $ | 138,215 |  | $ | 89,864 |  | $ | 251,124 |  | $ | 168,530 |
Schedule of components of the net periodic pension expense |
|  | 2013 |  | 2012 |
--- | --- | --- | --- | --- | ---
Net periodic benefit expense: |  |  |  |  |  |  |
Interest cost |  | $ | 13,058 |  | $ | 11,594 |
Expected return on plan assets |  |  | (9,813 | ) |  | (9,544 | )
Net periodic benefit expense |  | $ | 3,245 |  | $ | 2,050 |
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock option |
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended |
--- | --- | --- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Compensation expense |  | $ | 1,314 |  | $ | 1,245 |  | $ | 2,627 |  | $ | 2,490 |
Income tax benefits |  |  | 505 |  |  | 479 |  |  | 1,011 |  |  | 959 |
Schedule of Trading Securities measured at fair value |
|  |  |  | Fair Value Measurement Using: |
--- | --- | --- | --- | --- | ---
|  | Carrying Value June 29, 2013 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Trading Securities |  | $ | 24,562 |  | $ | 24,562 |  | $ | — |  | $ | — |
|  |  |  | Fair Value Measurement Using: |
--- | --- | --- | --- | --- | ---
|  | Carrying Value December 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 |  | $ | 20,087 |  | $ | 20,087 |  | $ | — |  | $ | — |
Components of accumulated other comprehensive income (loss) |
|  | Foreign Currency Translation Adjustments |  | Unrealized Loss on Cash Flow Hedge |  | Defined Benefit Pension Plan |  | Accumulated Other Comprehensive Income |
--- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Balance at December 29, 2012 |  | $ | 30,576 |  | $ | (2,935 | ) | $ | 16,297 |  | $ | 43,938 |
Current-period comprehensive income (loss) |  |  | (62,263 | ) |  | 200 |  |  | (894 | ) |  | (62,957 | )
Balance at June 29, 2013 |  | $ | (31,687 | ) | $ | (2,735 | ) | $ | 15,403 |  | $ | (19,019 | )

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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 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 2: 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=7578670&loc=d3e19190-110258 Reference 3: 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=7578670&loc=d3e19207-110258 Reference 4: 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. + Details
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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580 + Details
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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + 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 -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 2 -Paragraph 6 -Subparagraph a,b,c -Article 5 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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