XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Income Taxes | 6 Months Ended
--- | ---
Jul. 01, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Corporation's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items. The Corporation's income tax provision for the three months ended July 1, 2017 was $6.8 million on pre-tax income of $20.6 million, or an effective tax rate of 32.8 percent. For the three months ended July 2, 2016, the Corporation's income tax provision was $15.9 million on pre-tax income of $45.0 million, or an effective tax rate of 35.4 percent. The effective tax rate was lower in the three months ended July 1, 2017 principally due to the enactment of ASU No. 2016-09 related to stock compensation in the first quarter of 2017. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when awards vest or are settled. See "Note 13. Recently Adopted Accounting Standards" in the Notes to Condensed Consolidated Financial Statements. The Corporation's tax provision for the six months ended July 1, 2017 includes a tax benefit of $1.0 million related to the adoption of this standard. The provision for income taxes for the six months ended July 1, 2017 reflects an effective tax rate of 32.4 percent compared to 34.8 percent for the same period last year. The drivers of the change in the effective tax rate for the first six months were the same as those for the quarter.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration