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INCOME TAXES (Tables) | 12 Months Ended
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Jan. 03, 2015
INCOME TAXES [Abstract] |
Deferred income tax (assets) liabilities | Deferred income taxes are provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and those for income tax reporting purposes. Deferred income tax (assets) liabilities relate to:
|  | 2014 |  | 2013 |  | 2012 |
Property, plant and equipment |  | $ | 6,503,597 |  | $ | 6,184,873 |  | $ | 5,942,048 |
Other |  |  | 92,531 |  |  | 208,938 |  |  | — |
Total deferred income tax liabilities |  |  | 6,596,128 |  |  | 6,393,811 |  |  | 5,942,048 |
Other postretirement benefits |  |  | (1,030,203 | ) |  | (787,087 | ) |  | (885,729 | )
Inventories |  |  | (829,876 | ) |  | (848,364 | ) |  | (761,613 | )
Allowance for doubtful accounts |  |  | (105,296 | ) |  | (104,695 | ) |  | (104,903 | )
Intangible assets |  |  | (396,541 | ) |  | (373,482 | ) |  | (422,443 | )
Accrued compensation |  |  | (203,180 | ) |  | (158,866 | ) |  | (197,582 | )
Pensions |  |  | (9,275,949 | ) |  | (3,828,224 | ) |  | (7,128,057 | )
Other |  |  | — |  |  | — |  |  | (116,826 | )
Total deferred income tax assets |  |  | (11,841,045 | ) |  | (6,100,718 | ) |  | (9,617,153 | )
Net deferred income tax (assets) liabilities |  | $ | (5,244,917 | ) | $ | 293,093 |  | $ | (3,675,105 | )
Income before income taxes | Income before income taxes consists of:
|  | 2014 |  | 2013 |  | 2012 |
Domestic |  | $ | 8,087,552 |  | $ | 7,139,039 |  | $ | 8,614,664 |
Foreign |  |  | 3,441,211 |  |  | 2,974,856 |  |  | 4,609,854 |
|  | $ | 11,528,763 |  | $ | 10,113,895 |  | $ | 13,224,518 |
Provision for income taxes | The provision for income taxes follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 2,339,917 |  |  | $ | 1,942,271 |  |  | $ | 1,909,172 |
Foreign |  |  | 991,257 |  |  |  | 871,949 |  |  |  | 1,367,025 |
State |  |  | 295,554 |  |  |  | 162,952 |  |  |  | 220,820 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 164,830 |  |  |  | 241,821 |  |  |  | 1,022,660 |
Foreign |  |  | — |  |  |  | — |  |  |  | — |
State |  |  | 75,729 |  |  |  | (7,019 | ) |  |  | 79,041 |
|  | $ | 3,867,287 |  |  | $ | 3,211,974 |  |  | $ | 4,598,718 |
Reconciliation of income taxes computed using the U.S. federal statutory rate to that reflected in operations | A reconciliation of income taxes computed using the U.S. federal statutory rate to that reflected in operations follows:
|  | 2014 | 2013 | 2012
|  | Amount |  | Percent | Amount |  | Percent | Amount |  | Percent
Income taxes using U.S. federal statutory rate |  | $ 3,919,779 |  | 34 | % | $ 3,438,724 |  | 34 | % | $ 4,496,336 |  | 34 | %
State income taxes, net of federal benefit |  | 249,324 |  | 2 |  | 99,245 |  | 1 |  | 188,490 |  | 2 |
Impact of foreign subsidiaries on effective tax rate |  | (76,914 | ) | (1 | ) | (103,878 | ) | (1 | ) | 136,590 |  | 1 |
Impact of manufacturers deduction on effective tax rate |  | (185,993 | ) | (1 | ) | (138,127 | ) | (1 | ) | (232,928 | ) | (2 | )
Other—net |  | (38,909 | ) | - |  | (83,990 | ) | (1 | ) | 10,230 |  | - |
|  | $ 3,867,287 |  | 34 | % | $ 3,211,974 |  | 32 | % | $ 4,598,718 |  | 35 | %
Reconciliation of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits are as follows:
|  | 2014 |  | 2013 |  | 2012 |
Balance at beginning of year |  | $ | 220,289 |  | $ | 499,624 |  | $ | 486,332 |
Increases for positions taken during the current period |  |  | 50,735 |  |  | 49,636 |  |  | 119,893 |
Decreases relating to settlements |  |  | — |  |  | (263,856 | ) |  | — |
Decreases resulting from the expiration of the statute of limitations |  |  | (22,379 | ) |  | (65,115 | ) |  | (106,601 | )
Balance at end of year |  | $ | 248,645 |  | $ | 220,289 |  | $ | 499,624 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
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