XML 31 R8.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Summary of Significant Accounting Policies | 3 Months Ended
--- | ---
Mar. 30, 2013
Accounting Policies [Abstract] |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies
(a) | Basis of Presentation
The consolidated financial statements include the accounts of Darling and its consolidated subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
(b) | Fiscal Periods
The Company has a 52/53 week fiscal year ending on the Saturday nearest December 31. Fiscal periods for the consolidated financial statements included herein are as of March 30, 2013, and include the 13 weeks ended March 30, 2013, and the 13 weeks ended March 31, 2012.
(c) | Reclassifications
Certain prior year amounts have been reclassified to conform to the current year presentation.
(d) | Earnings Per Share
Basic income per common share is computed by dividing net income by the weighted average number of common shares including non-vested and restricted shares outstanding during the period. Diluted income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period increased by dilutive common equivalent shares determined using the treasury stock method.
| Net Income per Common Share (in thousands, except per share data)
| Three Months Ended
|  |  | March 30, 2013 |  |  |  |  |  | March 31, 2012 |  |
| Income |  | Shares |  | Per Share |  | Income |  | Shares |  | Per Share
Basic: |  |  |  |  |  |  |  |  |  |  |
Net Income | $ | 32,405 |  |  | 117,915 |  |  | $ | 0.27 |  |  | $ | 28,571 |  |  | 117,302 |  |  | $ | 0.24 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Add: Option shares in the money and dilutive effect of non-vested stock |  |  |  | 690 |  |  |  |  |  |  |  |  | 875 |  |  |  |
Less: Pro forma treasury shares |  |  |  | (312 | ) |  |  |  |  |  |  |  | (347 | ) |  |  |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 32,405 |  |  | 118,293 |  |  | $ | 0.27 |  |  | $ | 28,571 |  |  | 117,830 |  |  | $ | 0.24 |
For the three months ended March 30, 2013 and March 31, 2012, respectively, 191,628 and 211,890 outstanding stock options were excluded from diluted income per common share as the effect was antidilutive. For the three months ended March 30, 2013 and March 31, 2012, respectively, 64,180 and 123,260 shares of non-vested stock were excluded from diluted income per common share as the effect was antidilutive.

X
- Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all significant accounting policies of the reporting entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18861-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18743-107790 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18854-107790 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18726-107790 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 22 -Paragraph 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_SignificantAccountingPoliciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration