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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2017
Accounting Policies [Abstract] |
Components of inventories | Inventories consisted of the following:
| September 30, 2017 |  | December 31, 2016
Raw materials and purchased parts | $ | 175,222 |  |  | $ | 143,659 |
Work-in-process | 35,126 |  |  | 27,291 |
Finished goods and manufactured goods | 233,772 |  |  | 217,125 |
Subtotal | 444,120 |  |  | 388,075 |
Less: LIFO reserve | 40,886 |  |  | 38,047 |
| $ | 403,234 |  |  | $ | 350,028 |
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 30, 2017 and September 24, 2016, were as follows:
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
| 2017 |  | 2016 |  | 2017 |  | 2016
United States | $ | 28,886 |  |  | $ | 21,550 |  |  | $ | 115,082 |  |  | $ | 105,390 |
Foreign | 21,675 |  |  | 22,239 |  |  | 59,210 |  |  | 51,486 |
| $ | 50,561 |  |  | $ | 43,789 |  |  | $ | 174,292 |  |  | $ | 156,876 |
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 30, 2017 and September 24, 2016 were as follows:
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
Net periodic (benefit) expense: | 2017 |  | 2016 |  | 2017 |  | 2016
Interest cost | $ | 4,676 |  |  | $ | 6,092 |  |  | $ | 13,475 |  |  | $ | 19,134 |
Expected return on plan assets | (5,277 | ) |  | (5,565 | ) |  | (15,208 | ) |  | (17,648 | )
Amortization of actuarial loss | 768 |  |  | — |  |  | 2,214 |  |  | — |
Net periodic expense | $ | 167 |  |  | $ | 527 |  |  | $ | 481 |  |  | $ | 1,486 |
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 30, 2017 and September 24, 2016, respectively, were as follows:
| Thirteen Weeks Ended |  | Thirty-nine Weeks Ended
| 2017 |  | 2016 |  | 2017 |  | 2016
Compensation expense | $ | 1,290 |  |  | $ | 1,399 |  |  | $ | 3,868 |  |  | $ | 4,358 |
Income tax benefits | 496 |  |  | 539 |  |  | 1,489 |  |  | 1,678 |
Valuation methodologies used for assets and liabilities measured at fair value |
|  |  | Fair Value Measurement Using:
| Carrying Value September 30, 2017 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |
Trading Securities | $ | 41,062 |  |  | $ | 41,062 |  |  | $ | — |  |  | $ | — |
|  |  | Fair Value Measurement Using:
| Carrying Value December 31, 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 | $ | 37,800 |  |  | $ | 37,800 |  |  | $ | — |  |  | $ | — |
Components of accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss) consisted of the following at September 30, 2017 and December 31, 2016:
| Foreign Currency Translation Adjustments |  | Gain/(Loss) on Hedging Activities |  | Defined Benefit Pension Plan |  | Accumulated Other Comprehensive Loss
Balance at December 31, 2016 | $ | (251,228 | ) |  | $ | 7,978 |  |  | $ | (103,109 | ) |  | $ | (346,359 | )
Current-period comprehensive income (loss) | 60,017 |  |  | (1,760 | ) |  | — |  |  | 58,257 |
Balance at September 30, 2017 | $ | (191,211 | ) |  | $ | 6,218 |  |  | $ | (103,109 | ) |  | $ | (288,102 | )

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=66048111&loc=SL7498348-110258 Reference 6: 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=66048111&loc=d3e19190-110258 + Details
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