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Goodwill | 12 Months Ended
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Dec. 29, 2012
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | Goodwill The Company records as goodwill the excess of the purchase price over the fair value of the net assets acquired. Once the final valuation has been performed for each acquisition, adjustments may be recorded. Goodwill is tested and reviewed annually for impairment during the fourth quarter or whenever there is a significant change in events or circumstances that indicate that the fair value of the asset may be less than the carrying amount of the asset. The changes in the carrying amount of goodwill are as follows:
| Nonwovens |  |  |  |
In thousands | Americas |  | Europe |  | Asia |  | Oriented Polymers |  | Total
January 1, 2011 | $ | — |  |  | $ | 2,253 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,253 |
Elimination of Predecessor | — |  |  | (2,308 | ) |  | — |  |  | — |  |  | (2,308 | )
Acquisition of PGI | 46,428 |  |  | — |  |  | 39,948 |  |  | — |  |  | 86,376 |
Acquisitions | — |  |  | — |  |  | — |  |  | — |  |  | — |
Impairment | (448 | ) |  | — |  |  | (7,199 | ) |  | — |  |  | (7,647 | )
Translation | — |  |  | 55 |  |  | 1,817 |  |  | — |  |  | 1,872 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |
December 31, 2011 | $ | 45,980 |  |  | $ | — |  |  | $ | 34,566 |  |  | $ | — |  |  | $ | 80,546 |
Acquisitions | — |  |  | — |  |  | — |  |  | — |  |  | — |
Impairment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Translation | — |  |  | — |  |  | 62 |  |  | — |  |  | 62 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |
December 29, 2012 | $ | 45,980 |  |  | $ | — |  |  | $ | 34,628 |  |  | $ | — |  |  | $ | 80,608 |
As of December 29, 2012, the Company had recorded goodwill of $80.6 million. The balance primarily relates to the Merger on January 28, 2011, in which $86.4 million was recorded as goodwill. During the fourth quarter of 2011, the Company performed its annual impairment test of goodwill in accordance with ASC 350. Utilizing an outside valuation expert, the fair value Company's reporting units were determined based on a discounted cash flow model (income approach valuation technique). Management believes the estimates, judgments and assumptions were appropriate in the circumstances and based these assumptions on market and geographic risks unique to each reporting unit. As a result, the Company recorded a $7.6 million impairment charge to goodwill in the fourth quarter of 2011, attributable to four of its twelve reporting units. The Company does not have any accumulated impairment losses other than the amounts recorded during 2011. In April 2012, the Company approved the internal redesign and restructuring of its global operations for the purposes of realigning and repositioning the Company to consolidate the benefits of its global footprint, align resources and capabilities with future growth opportunities and provide for a more efficient structure to serve existing markets. As part of the change, the Company eliminated the Latin America Nonwovens segment and merged it with the U.S. Nonwoven segment to create the Americas Nonwoven segment. During the fourth quarter of 2012, the Company performed its annual impairment test of goodwill in accordance with ASC 350. As a result, the Company determined that the fair value of its reporting units exceeded their respective carrying values. Therefore, no impairment charges were recorded during 2012. However, two of the Company's reporting units failed step 1 of the impairment test, but did not have a goodwill impairment loss in step 2 as the implied fair value of goodwill in each of the reporting units exceeded its respective carrying amount.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 42, 43, 44, 45, 46, 47 -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. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 + Details
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