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Financial Instruments Measured at Fair Value | 9 Months Ended
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Sep. 29, 2012
Financial Instruments Measured at Fair Value [Abstract] |
Financial Instruments Measured At Fair Value [Text Block] | Financial Instruments Measured at Fair Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The company utilizes a fair value hierarchy, which maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The fair value hierarchy has three levels of inputs that may be used to measure fair value:
Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
Level 2 | Quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability.
Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable.
The following table presents assets (liabilities) measured at fair value on a recurring basis at September 29, 2012:
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Available-for-sale securities |  | $ | 51,362 |  |  | $ | — |  |  | $ | — |  |  | $ | 51,362 |
Interest rate swaps |  | — |  |  | (11,243 | ) |  | — |  |  | (11,243 | )
Foreign exchange contracts |  | — |  |  | 87 |  |  | — |  |  | 87 |
Contingent consideration |  | — |  |  | — |  |  | (6,065 | ) |  | (6,065 | )
|  | $ | 51,362 |  |  | $ | (11,156 | ) |  | $ | (6,065 | ) |  | $ | 34,141 |
The following table presents assets (liabilities) measured at fair value on a recurring basis at December 31, 2011:
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Available-for-sale securities |  | $ | 45,421 |  |  | $ | — |  |  | $ | — |  |  | $ | 45,421 |
Interest rate swaps |  | — |  |  | (3,009 | ) |  | — |  |  | (3,009 | )
Foreign exchange contracts |  | — |  |  | (649 | ) |  | — |  |  | (649 | )
|  | $ | 45,421 |  |  | $ | (3,658 | ) |  | $ | — |  |  | $ | 41,763 |
The following table summarizes the Level 3 activity for the first nine months of 2012:
Balance as of December 31, 2011 | $ | — |
Fair value of initial contingent consideration | (10,390 | )
Change in fair value of contingent consideration included in earnings | 4,325 |
Balance as of September 29, 2012 | $ | (6,065 | )
The change in the fair value of contingent consideration is included in "Restructuring, integration, and other charges," in the company's consolidated statements of operations. During the first nine months of 2012 and 2011, there were no transfers of assets (liabilities) measured at fair value between the three levels of the fair value hierarchy. Available-For-Sale Securities The company has a 1.9% equity ownership interest in WPG Holdings Co., Ltd. ("WPG") and an 8.4% equity ownership interest in Marubun Corporation ("Marubun"), which are accounted for as available-for-sale securities. The fair value of the company's available-for-sale securities is as follows:
|  | September 29, 2012 |  | December 31, 2011
|  | Marubun |  | WPG |  | Marubun |  | WPG
Cost basis |  | $ | 10,016 |  |  | $ | 10,798 |  |  | $ | 10,016 |  |  | $ | 10,798 |
Unrealized holding gain (loss) |  | 57 |  |  | 30,491 |  |  | (371 | ) |  | 24,978 |
Fair value |  | $ | 10,073 |  |  | $ | 41,289 |  |  | $ | 9,645 |  |  | $ | 35,776 |
The fair value of these investments are included in "Other assets" in the company's consolidated balance sheets, and the related unrealized holding gains or losses are included in "Other" in the shareholders' equity section in the company's consolidated balance sheets. Derivative Instruments The company uses various financial instruments, including derivative financial instruments, for purposes other than trading. Derivatives used as part of the company's risk management strategy are designated at inception as hedges and measured for effectiveness both at inception and on an ongoing basis. The fair values of derivative instruments in the consolidated balance sheets are as follows:
|  | Asset (Liability) Derivatives
|  |  |  | Fair Value
|  | Balance Sheet Location |  | September 29, 2012 |  | December 31, 2011
Derivative instruments designated as hedges: |  |  |  |  |  |
Interest rate swaps designated as cash flow hedges |  | Accrued expenses |  | $ | (11,243 | ) |  | $ | — |
Interest rate swaps designated as cash flow hedges |  | Other liabilities |  | — |  |  | (3,009 | )
Foreign exchange contracts designated as cash flow hedges |  | Other current assets |  | 239 |  |  | 73 |
Foreign exchange contracts designated as cash flow hedges |  | Accrued expenses |  | (252 | ) |  | (641 | )
Total derivative instruments designated as hedging instruments |  |  |  | (11,256 | ) |  | (3,577 | )
Derivative instruments not designated as hedges: |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current assets |  | 2,188 |  |  | 2,218 |
Foreign exchange contracts |  | Accrued expenses |  | (2,088 | ) |  | (2,299 | )
Total derivative instruments not designated as hedging instruments |  |  |  | 100 |  |  | (81 | )
Total |  |  |  | $ | (11,156 | ) |  | $ | (3,658 | )
The effect of derivative instruments on the consolidated statements of operations is as follows:
|  | Gain (Loss) Recognized in Income
|  | Quarter Ended |  | Nine Months Ended
|  | September 29, 2012 |  | October 1, 2011 |  | September 29, 2012 |  | October 1, 2011
Derivative instruments not designated as hedges: |  |  |  |  |  |  |  |
Foreign exchange contracts (a) |  | $ | (343 | ) |  | $ | 510 |  |  | $ | (1,688 | ) |  | $ | (2,667 | )
| Cash Flow Hedges
| Quarter Ended |  | Nine Months Ended
| September 29, 2012 |  | September 29, 2012
| Interest Rate Swaps (b) |  | Foreign Exchange Contracts (c) |  | Interest Rate Swaps (b) |  | Foreign Exchange Contracts (c)
Effective portion: |  |  |  |  |  |  |
Gain (loss) recognized in other comprehensive income | $ | (2,155 | ) |  | $ | 370 |  |  | $ | (8,234 | ) |  | $ | 606 |
Gain (loss) reclassified into income | $ | — |  |  | $ | 10 |  |  | $ | — |  |  | $ | (47 | )
Ineffective portion: |  |  |  |  |  |  |
Gain (loss) recognized into income | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
| Cash Flow Hedges
| Quarter Ended |  | Nine Months Ended
| October 1, 2011 |  | October 1, 2011
| Interest Rate Swaps (b) |  | Foreign Exchange Contracts (c) |  | Interest Rate Swaps (b) |  | Foreign Exchange Contracts (c)
Effective portion: |  |  |  |  |  |  |
Gain (loss) recognized in other comprehensive income | $ | (287 | ) |  | $ | (1,150 | ) |  | $ | (287 | ) |  | $ | (435 | )
Gain (loss) reclassified into income | $ | — |  |  | $ | (116 | ) |  | $ | — |  |  | $ | (77 | )
Ineffective portion: |  |  |  |  |  |  |
Gain (loss) recognized into income | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(a) | The amount of gain (loss) recognized in income on derivatives is recorded in "Cost of sales" in the company's consolidated statements of operations.
(b) | Both the effective and ineffective portions of any gain (loss) reclassified or recognized in income are recorded in "Interest and other financing expense, net" in the company's consolidated statements of operations.
(c) | Both the effective and ineffective portions of any gain (loss) reclassified or recognized in income are recorded in "Cost of sales" in the company's consolidated statements of operations.
Interest Rate Swaps The company enters into interest rate swap transactions that convert certain fixed-rate debt to variable-rate debt or variable-rate debt to fixed-rate debt in order to manage its targeted mix of fixed- and floating-rate debt. The effective portion of the change in the fair value of interest rate swaps designated as fair value hedges is recorded as a change to the carrying value of the related hedged debt, and the effective portion of the change in fair value of interest rate swaps designated as cash flow hedges is recorded in the shareholders' equity section in the company's consolidated balance sheets in "Other." The ineffective portion of the interest rate swap, if any, is recorded in "Interest and other financing expense, net" in the company's consolidated statements of operations. In September 2011, the company entered into a ten-year forward-starting interest rate swap (the "2011 swap") locking in a treasury rate of 2.63% with an aggregate notional amount of $175,000. This swap manages the risk associated with changes in treasury rates and the impact of future interest payments. The 2011 swap relates to the interest payments for anticipated debt issuances. Such anticipated debt issuances are expected to replace the outstanding debt maturing in July 2013. The 2011 swap is classified as a cash flow hedge and had a negative fair value of $11,243 and $3,009 at September 29, 2012 and December 31, 2011, respectively. Foreign Exchange Contracts The company enters into foreign exchange forward, option, or swap contracts (collectively, the "foreign exchange contracts") to mitigate the impact of changes in foreign currency exchange rates. These contracts are executed to facilitate the hedging of foreign currency exposures resulting from inventory purchases and sales and generally have terms of no more than six months. Gains or losses on these contracts are deferred and recognized when the underlying future purchase or sale is recognized or when the corresponding asset or liability is revalued. The company does not enter into foreign exchange contracts for trading purposes. The risk of loss on a foreign exchange contract is the risk of nonperformance by the counterparties, which the company minimizes by limiting its counterparties to major financial institutions. The fair value of the foreign exchange contracts are estimated using market quotes. The notional amount of the foreign exchange contracts at September 29, 2012 and December 31, 2011 was $344,868 and $332,881, respectively. Contingent Consideration In connection with one of the 2012 acquisitions, payment of a portion of the respective purchase price is contingent upon the achievement of certain operating results, with a maximum possible payout of $18,000 over a three-year period. The company estimated the fair value of the contingent consideration as the present value of the expected contingent payments, determined using the weighted probabilities of the possible payments. The company reassesses the fair value of the contingent consideration on a quarterly basis. Of the total contingent consideration as of September 29, 2012, $52 is included in "Accrued expenses" and $6,013 is included in "Other liabilities" in the company's consolidated balance sheets. Other The carrying amount of cash and cash equivalents, accounts receivable, net, and accounts payable approximate their fair value due to the short maturities of these financial instruments.

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- Definition This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information AND This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising there from, and the amounts of and methodologies and assumptions used in determining the amounts of such items. + References No definition available. + Details
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