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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 29, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Components of inventories

		March 29, 2014			December 28, 2013
Raw materials and purchased parts		$	183,412		$	179,576
Work-in-process			39,617			27,294
Finished goods and manufactured goods			247,397			218,334
​	​	​	​	​	​	​	​
Subtotal			470,426			425,204
Less: LIFO reserve			45,601			45,204
​	​	​	​	​	​	​	​
		$	424,825		$	380,000
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries

		Thirteen Weeks Ended
		2014			2013
United States		$	71,694		$	89,384
Foreign			14,884			23,525
​	​	​	​	​	​	​	​
		$	86,578		$	112,909
​	​	​	​	​	​	​	​
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Schedule of components of the net periodic pension expense

		2014			2013
Net periodic benefit expense:
Interest cost		$	7,197		$	6,571
Expected return on plan assets			(6,535	)		(4,938	)
​	​	​	​	​	​	​	​
Net periodic benefit expense		$	662		$	1,633
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options

		Thirteen Weeks Ended
		2014			2013
Compensation expense		$	1,263		$	1,313
Income tax benefits			486			506

Valuation methodologies used for assets and liabilities measured at fair value

					Fair Value Measurement Using:
		Carrying Value March 29, 2014			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets:
Trading Securities		$	44,430		$	44,430		$	—		$	—

					Fair Value Measurement Using:
		Carrying Value December 28, 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		$	41,043		$	41,043		$	—		$	—

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 28, 2013		$	(20,165	)	$	(2,535	)	$	(24,985	)	$	(47,685	)
Current-period comprehensive income (loss)			12,308			100			(233	)		12,175
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Balance at March 29, 2014		$	(7,857	)	$	(2,435	)	$	(25,218	)	$	(35,510	)
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