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Note 7 - Dana Claim | 6 Months Ended
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Jun. 29, 2014
Extraordinary and Unusual Items [Abstract] |
Extraordinary Items Disclosure [Text Block] |
(7) | Dana Claim
On March 3, 2006, Dana and 40 of its U.S. subsidiaries, filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. On August 7, 2007, the Company entered into a comprehensive settlement agreement with Dana to resolve all outstanding disputes between the parties, terminate previously approved arbitration payments and replace three existing supply agreements with a single, revised contract running through 2014. In addition, Dana provided the Company with an allowed general unsecured non-priority claim in the face amount of $89,900,000 (the “Claim”). The Claim provided to the Company was agreed to by the Company and Dana as consideration for the aggregate economic impact of the various elements the two parties were negotiating. After the aggregate Claim value of $89,900,000 was established, the Company recorded the claim at the estimated fair value of $76,483,000 and allocated the estimated fair value to each commercial issue negotiated. The revenues and resulting net income associated with each of those issues requiring the Company’s continued involvement was deferred and will be recognized over the applicable period of the involvement. For the six months ended June 29, 2014 and June 30, 2013, the Company recognized into revenue $4,329,000 and $4,000,000, respectively, related to the Claim.

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- Definition The entire disclosure for extraordinary items. This may include information related to the determination or classification of an event or transaction meeting the criteria for unusual in nature and infrequent in occurrence. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 45 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6904752&loc=d3e14528-107780 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6904752&loc=d3e14571-107780 + Details
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