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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 27, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Components of inventories |
|  | June 27, 2015 |  | December 27, 2014 |
Raw materials and purchased parts |  | $ | 182,927 |  | $ | 179,093 |
Work-in-process |  |  | 26,286 |  |  | 27,835 |
Finished goods and manufactured goods |  |  | 209,777 |  |  | 199,772 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal |  |  | 418,990 |  |  | 406,700 |
Less: LIFO reserve |  |  | 39,093 |  |  | 47,178 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 379,897 |  | $ | 359,522 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries |
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
United States |  | $ | 33,641 |  | $ | 65,096 |  | $ | 66,282 |  | $ | 136,790 |
Foreign |  |  | 9,715 |  |  | 34,856 |  |  | 25,519 |  |  | 49,740 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 43,356 |  | $ | 99,952 |  | $ | 91,801 |  | $ | 186,530 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Schedule of components of the net periodic pension expense |
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Net periodic (benefit) expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | $ | 6,189 |  | $ | 7,312 |  | $ | 12,300 |  | $ | 14,509 |
Expected return on plan assets |  |  | (6,344 | ) |  | (6,640 | ) |  | (12,605 | ) |  | (13,175 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net periodic (benefit) expense |  | $ | (155 | ) | $ | 672 |  | $ | (305 | ) | $ | 1,334 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options |
|  | Thirteen Weeks Ended |  | Twenty-six Weeks Ended |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Compensation expense |  | $ | 1,303 |  | $ | 1,262 |  | $ | 2,653 |  | $ | 2,525 |
Income tax benefits |  |  | 501 |  |  | 486 |  |  | 1,021 |  |  | 972 |
Valuation methodologies used for assets and liabilities measured at fair value |
|  |  |  | Fair Value Measurement Using: |
|  | Carrying Value June 27, 2015 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Trading Securities |  | $ | 44,755 |  | $ | 44,755 |  | $ | — |  | $ | — |
|  |  |  | Fair Value Measurement Using: |
|  | Carrying Value December 27, 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 |  | $ | 45,473 |  | $ | 45,473 |  | $ | — |  | $ | — |
Components of accumulated other comprehensive income (loss) |
|  | Foreign Currency Translation Adjustments |  | Unrealized Gain on Cash Flow Hedge |  | Defined Benefit Pension Plan |  | Accumulated Other Comprehensive Income |
Balance at December 27, 2014 |  | $ | (99,618 | ) | $ | 3,879 |  | $ | (38,694 | ) | $ | (134,433 | )
Current-period comprehensive income (loss) |  |  | (38,157 | ) |  | 1,082 |  |  | — |  |  | (37,075 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at June 27, 2015 |  | $ | (137,775 | ) | $ | 4,961 |  | $ | (38,694 | ) | $ | (171,508 | )
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