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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Mar. 26, 2016
Accounting Policies [Abstract] |
Components of inventories | Inventories consisted of the following:
| March 26, 2016 |  | December 26, 2015
Raw materials and purchased parts | $ | 155,585 |  |  | $ | 162,977 |
Work-in-process | 28,663 |  |  | 25,644 |
Finished goods and manufactured goods | 199,568 |  |  | 187,126 |
Subtotal | 383,816 |  |  | 375,747 |
Less: LIFO reserve | 33,048 |  |  | 35,075 |
| $ | 350,768 |  |  | $ | 340,672 |
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 weeks ended March 26, 2016 and March 28, 2015, were as follows:
| Thirteen Weeks Ended
| 2016 |  | 2015
United States | $ | 39,600 |  |  | $ | 32,641 |
Foreign | 10,844 |  |  | 15,804 |
| $ | 50,444 |  |  | $ | 48,445 |
Schedule of components of the net periodic pension (benefit) expense | The components of the net periodic pension (benefit) expense for the thirteen weeks ended March 26, 2016 and March 28, 2015 were as follows:
| Thirteen Weeks Ended
Net periodic (benefit) expense: | 2016 |  | 2015
Interest cost | $ | 6,448 |  |  | $ | 6,111 |
Expected return on plan assets | (6,064 | ) |  | (6,261 | )
Net periodic (benefit) expense | $ | 384 |  |  | $ | (150 | )
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 weeks ended March 26, 2016 and March 28, 2015, respectively, were as follows:
| Thirteen Weeks Ended
| 2016 |  | 2015
Compensation expense | $ | 1,491 |  |  | $ | 1,350 |
Income tax benefits | 574 |  |  | 520 |
Valuation methodologies used for assets and liabilities measured at fair value |
|  |  | Fair Value Measurement Using:
| Carrying Value March 26, 2016 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Trading Securities | $ | 39,806 |  |  | $ | 39,806 |  |  | $ | — |  |  | $ | — |
|  |  | Fair Value Measurement Using:
| Carrying Value December 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 | $ | 42,697 |  |  | $ | 42,697 |  |  | $ | — |  |  | $ | — |
Components of accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss) consisted of the following at March 26, 2016 and December 26, 2015:
| Foreign Currency Translation Adjustments |  | Unrealized Gain on Cash Flow Hedge |  | Defined Benefit Pension Plan |  | Accumulated Other Comprehensive Income
Balance at December 26, 2015 | $ | (191,928 | ) |  | $ | 3,678 |  |  | $ | (78,968 | ) |  | $ | (267,218 | )
Current-period comprehensive income (loss) | 1,388 |  |  | 19 |  |  | — |  |  | 1,407 |
Balance at March 26, 2016 | $ | (190,540 | ) |  | $ | 3,697 |  |  | $ | (78,968 | ) |  | $ | (265,811 | )

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