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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 26, 2015
Accounting Policies [Abstract] |
Components of inventories | Inventories consisted of the following:
| September 26, 2015 |  | December 27, 2014
Raw materials and purchased parts | $ | 181,618 |  |  | $ | 179,093 |
Work-in-process | 28,934 |  |  | 27,835 |
Finished goods and manufactured goods | 194,806 |  |  | 199,772 |
Subtotal | 405,358 |  |  | 406,700 |
Less: LIFO reserve | 37,068 |  |  | 47,178 |
| $ | 368,290 |  |  | $ | 359,522 |
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries | Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014, were as follows:
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
| 2015 |  | 2014 |  | 2015 |  | 2014
United States | $ | 26,343 |  |  | $ | 4,844 |  |  | $ | 92,625 |  |  | $ | 141,635 |
Foreign | (776 | ) |  | 34,671 |  |  | 24,743 |  |  | 84,410 |
| $ | 25,567 |  |  | $ | 39,515 |  |  | $ | 117,368 |  |  | $ | 226,045 |
Schedule of components of the net periodic pension (benefit) expense | The components of the net periodic pension (benefit) expense for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014 were as follows:
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
Net periodic (benefit) expense: | 2015 |  | 2014 |  | 2015 |  | 2014
Interest cost | $ | 6,186 |  |  | $ | 7,274 |  |  | $ | 18,486 |  |  | $ | 21,783 |
Expected return on plan assets | (6,341 | ) |  | (6,605 | ) |  | (18,946 | ) |  | (19,780 | )
Net periodic (benefit) expense | $ | (155 | ) |  | $ | 669 |  |  | $ | (460 | ) |  | $ | 2,003 |
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options | The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options for the thirteen and thirty-nine weeks ended September 26, 2015 and September 27, 2014, respectively, were as follows:
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
| 2015 |  | 2014 |  | 2015 |  | 2014
Compensation expense | $ | 1,283 |  |  | $ | 1,242 |  |  | $ | 3,936 |  |  | $ | 3,767 |
Income tax benefits | 494 |  |  | 478 |  |  | 1,515 |  |  | 1,450 |
Valuation methodologies used for assets and liabilities measured at fair value |
|  |  | Fair Value Measurement Using:
| Carrying Value September 26, 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 | $ | 42,375 |  |  | $ | 42,375 |  |  | $ | — |  |  | $ | — |
|  |  | 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) | Accumulated other comprehensive income (loss) consisted of the following at September 26, 2015 and December 27, 2014:
| 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) | (89,345 | ) |  | 771 |  |  | — |  |  | (88,574 | )
Balance at September 26, 2015 | $ | (188,963 | ) |  | $ | 4,650 |  |  | $ | (38,694 | ) |  | $ | (223,007 | )

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