|
Financial Guarantees and Condensed Consolidating Balance Sheet (Details) (USD $) In Thousands, unless otherwise specified
|
3 Months Ended |
9 Months Ended |
|
|
|
Sep. 27, 2014
|
Sep. 28, 2013
|
Sep. 27, 2014
|
Sep. 28, 2013
|
Dec. 28, 2013
|
Dec. 29, 2012
|
| Condensed Financial Statements, Captions [Line Items] |
|
|
|
|
|
|
| Sales Revenue, Goods, Net |
$ 498,013 |
$ 288,979 |
$ 1,360,495 |
$ 867,599 |
|
|
| Long-term Debt, Current Maturities |
35,447 |
|
35,447 |
|
13,797 |
|
| Other Liabilities, Noncurrent |
62,258 |
|
62,258 |
|
62,191 |
|
| Liabilities |
1,988,273 |
|
1,988,273 |
|
1,304,781 |
|
| Liabilities, Current |
364,068 |
|
364,068 |
|
328,955 |
|
| Current assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
182,683 |
74,678 |
182,683 |
74,678 |
86,064 |
97,879 |
| Accounts receivable, net |
262,074 |
|
262,074 |
|
194,827 |
|
| Inventories, net |
182,205 |
|
182,205 |
|
156,074 |
|
| Deferred income taxes |
9,672 |
|
9,672 |
|
2,318 |
|
| Other current assets |
88,949 |
|
88,949 |
|
59,096 |
|
| Total current assets |
725,583 |
|
725,583 |
|
498,379 |
|
| Property, plant and equipment, net of accumulated depreciation of $223,653 and $175,159, respectively |
989,389 |
|
989,389 |
|
652,780 |
|
| Goodwill |
201,987 |
|
201,987 |
|
115,328 |
|
| Intangible assets, net |
171,753 |
|
171,753 |
|
169,399 |
|
| Net investment in and advances to (from) subsidiaries |
0 |
|
0 |
|
0 |
|
| Deferred income taxes |
3,621 |
|
3,621 |
|
2,582 |
|
| Other noncurrent assets |
35,283 |
|
35,283 |
|
26,052 |
|
| Total assets |
2,127,616 |
|
2,127,616 |
|
1,464,520 |
|
| Common stock |
0 |
|
0 |
|
0 |
|
| Stockholders' Equity Attributable to Parent |
49,504 |
|
49,504 |
|
158,896 |
|
| Noncontrolling interests |
89,839 |
|
89,839 |
|
843 |
|
| Total equity |
139,343 |
|
139,343 |
|
159,739 |
|
| Total liabilities and equity |
2,127,616 |
|
2,127,616 |
|
1,464,520 |
|
| Short-term borrowings |
15,802 |
|
15,802 |
|
2,472 |
|
| Long-term Debt, Excluding Current Maturities |
1,440,130 |
|
1,440,130 |
|
880,399 |
|
| Deferred Tax Liabilities, Net, Noncurrent |
77,026 |
|
77,026 |
|
33,236 |
|
| Accounts Payable and Accrued Liabilities, Current |
311,340 |
|
311,340 |
|
307,731 |
|
| Accrued Income Taxes, Current |
471 |
|
471 |
|
3,613 |
|
| Deferred Tax Liabilities, Net, Current |
1,008 |
|
1,008 |
|
1,342 |
|
| Cost of Goods Sold |
417,521 |
240,779 |
1,118,952 |
723,143 |
|
|
| Gross Profit |
80,492 |
48,200 |
241,543 |
144,456 |
|
|
| Selling, General and Administrative Expense |
65,796 |
33,463 |
185,499 |
107,176 |
|
|
| Special Charges Net |
(14,893) |
(7,093) |
(47,868) |
(10,647) |
|
|
| Other Cost and Expense, Operating |
(2,266) |
671 |
2,658 |
1,975 |
|
|
| Operating income (loss): |
2,069 |
6,973 |
5,518 |
24,658 |
|
|
| Interest Expense |
28,782 |
13,185 |
67,605 |
37,592 |
|
|
| Intercompany Royalty and Technical Service Fees Net |
0 |
0 |
0 |
0 |
|
|
| Foreign currency and other, net |
(26,588) |
2,298 |
(11,626) |
(22) |
|
|
| Equity in earnings of subsidiaries |
0 |
0 |
0 |
0 |
|
|
| Income (loss) before income taxes |
(58,288) |
(3,914) |
(89,438) |
(12,956) |
|
|
| Income Tax Expense (Benefit) |
(1,137) |
4,353 |
(850) |
9,444 |
|
|
| Net income (loss) |
(57,151) |
(8,267) |
(88,588) |
(22,400) |
|
|
| Less: Earnings attributable to noncontrolling interests |
(1,923) |
0 |
(4,216) |
0 |
|
|
| Net income (loss) attributable to Polymer Group, Inc. |
(55,228) |
(8,267) |
(84,372) |
(22,400) |
|
|
| Comprehensive income (loss) attributable to Polymer Group, Inc. |
(87,958) |
(3,272) |
(113,412) |
(18,652) |
|
|
|
PGI (Issuer)
|
|
|
|
|
|
|
| Condensed Financial Statements, Captions [Line Items] |
|
|
|
|
|
|
| Sales Revenue, Goods, Net |
46 |
0 |
46 |
0 |
|
|
| Long-term Debt, Current Maturities |
7,142 |
|
7,142 |
|
3,039 |
|
| Other Liabilities, Noncurrent |
494 |
|
494 |
|
1,810 |
|
| Liabilities |
1,458,138 |
|
1,458,138 |
|
893,879 |
|
| Liabilities, Current |
43,119 |
|
43,119 |
|
40,328 |
|
| Current assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
4,026 |
1,535 |
4,026 |
1,535 |
2,068 |
486 |
| Accounts receivable, net |
0 |
|
0 |
|
0 |
|
| Inventories, net |
(837) |
|
(837) |
|
0 |
|
| Deferred income taxes |
385 |
|
385 |
|
385 |
|
| Other current assets |
10,120 |
|
10,120 |
|
1,887 |
|
| Total current assets |
13,694 |
|
13,694 |
|
4,340 |
|
| Property, plant and equipment, net of accumulated depreciation of $223,653 and $175,159, respectively |
4,237 |
|
4,237 |
|
2,756 |
|
| Goodwill |
0 |
|
0 |
|
0 |
|
| Intangible assets, net |
36,489 |
|
36,489 |
|
31,525 |
|
| Net investment in and advances to (from) subsidiaries |
1,452,933 |
|
1,452,933 |
|
1,013,856 |
|
| Deferred income taxes |
0 |
|
0 |
|
0 |
|
| Other noncurrent assets |
289 |
|
289 |
|
298 |
|
| Total assets |
1,507,642 |
|
1,507,642 |
|
1,052,775 |
|
| Common stock |
0 |
|
0 |
|
0 |
|
| Stockholders' Equity Attributable to Parent |
49,504 |
|
49,504 |
|
158,896 |
|
| Noncontrolling interests |
0 |
|
0 |
|
0 |
|
| Total equity |
49,504 |
|
49,504 |
|
158,896 |
|
| Total liabilities and equity |
1,507,642 |
|
1,507,642 |
|
1,052,775 |
|
| Short-term borrowings |
119 |
|
119 |
|
410 |
|
| Long-term Debt, Excluding Current Maturities |
1,413,551 |
|
1,413,551 |
|
850,767 |
|
| Deferred Tax Liabilities, Net, Noncurrent |
974 |
|
974 |
|
974 |
|
| Accounts Payable and Accrued Liabilities, Current |
35,619 |
|
35,619 |
|
36,510 |
|
| Accrued Income Taxes, Current |
239 |
|
239 |
|
369 |
|
| Deferred Tax Liabilities, Net, Current |
0 |
|
0 |
|
0 |
|
| Cost of Goods Sold |
93 |
93 |
223 |
129 |
|
|
| Gross Profit |
(47) |
(93) |
(177) |
(129) |
|
|
| Selling, General and Administrative Expense |
14,412 |
9,078 |
37,442 |
33,053 |
|
|
| Special Charges Net |
(3,886) |
(6,539) |
(22,823) |
(8,364) |
|
|
| Other Cost and Expense, Operating |
(146) |
(36) |
(157) |
(55) |
|
|
| Operating income (loss): |
(18,199) |
(15,674) |
(60,285) |
(41,491) |
|
|
| Interest Expense |
20,569 |
14,800 |
53,987 |
37,274 |
|
|
| Intercompany Royalty and Technical Service Fees Net |
(2,301) |
(1,425) |
4,898 |
(4,181) |
|
|
| Foreign currency and other, net |
(6,803) |
2,815 |
16,114 |
2,815 |
|
|
| Equity in earnings of subsidiaries |
(12,803) |
15,695 |
21,647 |
42,848 |
|
|
| Income (loss) before income taxes |
(58,685) |
(10,539) |
(94,759) |
(28,921) |
|
|
| Income Tax Expense (Benefit) |
(3,457) |
(2,272) |
(10,387) |
(6,521) |
|
|
| Net income (loss) |
(55,228) |
(8,267) |
(84,372) |
(22,400) |
|
|
| Less: Earnings attributable to noncontrolling interests |
0 |
|
0 |
|
|
|
| Net income (loss) attributable to Polymer Group, Inc. |
(55,228) |
|
(84,372) |
|
|
|
| Comprehensive income (loss) attributable to Polymer Group, Inc. |
(87,958) |
(3,272) |
(113,412) |
(18,652) |
|
|
|
Guarantors
|
|
|
|
|
|
|
| Condensed Financial Statements, Captions [Line Items] |
|
|
|
|
|
|
| Sales Revenue, Goods, Net |
145,542 |
93,021 |
441,790 |
275,850 |
|
|
| Long-term Debt, Current Maturities |
0 |
|
0 |
|
0 |
|
| Other Liabilities, Noncurrent |
26,994 |
|
26,994 |
|
31,718 |
|
| Liabilities |
96,058 |
|
96,058 |
|
106,211 |
|
| Liabilities, Current |
59,438 |
|
59,438 |
|
61,950 |
|
| Current assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
112,897 |
11,975 |
112,897 |
11,975 |
13,103 |
28,285 |
| Accounts receivable, net |
43,990 |
|
43,990 |
|
46,828 |
|
| Inventories, net |
50,697 |
|
50,697 |
|
46,428 |
|
| Deferred income taxes |
2,438 |
|
2,438 |
|
2,438 |
|
| Other current assets |
10,838 |
|
10,838 |
|
12,696 |
|
| Total current assets |
220,860 |
|
220,860 |
|
121,493 |
|
| Property, plant and equipment, net of accumulated depreciation of $223,653 and $175,159, respectively |
205,007 |
|
205,007 |
|
207,256 |
|
| Goodwill |
55,999 |
|
55,999 |
|
54,683 |
|
| Intangible assets, net |
120,011 |
|
120,011 |
|
125,146 |
|
| Net investment in and advances to (from) subsidiaries |
473,936 |
|
473,936 |
|
615,314 |
|
| Deferred income taxes |
0 |
|
0 |
|
0 |
|
| Other noncurrent assets |
9,383 |
|
9,383 |
|
8,869 |
|
| Total assets |
1,085,196 |
|
1,085,196 |
|
1,132,761 |
|
| Common stock |
0 |
|
0 |
|
0 |
|
| Stockholders' Equity Attributable to Parent |
989,138 |
|
989,138 |
|
1,026,550 |
|
| Noncontrolling interests |
0 |
|
0 |
|
0 |
|
| Total equity |
989,138 |
|
989,138 |
|
1,026,550 |
|
| Total liabilities and equity |
1,085,196 |
|
1,085,196 |
|
1,132,761 |
|
| Short-term borrowings |
0 |
|
0 |
|
0 |
|
| Long-term Debt, Excluding Current Maturities |
0 |
|
0 |
|
0 |
|
| Deferred Tax Liabilities, Net, Noncurrent |
9,626 |
|
9,626 |
|
12,543 |
|
| Accounts Payable and Accrued Liabilities, Current |
58,817 |
|
58,817 |
|
61,950 |
|
| Accrued Income Taxes, Current |
769 |
|
769 |
|
0 |
|
| Deferred Tax Liabilities, Net, Current |
(148) |
|
(148) |
|
0 |
|
| Cost of Goods Sold |
117,548 |
77,996 |
354,160 |
234,710 |
|
|
| Gross Profit |
27,994 |
15,025 |
87,630 |
41,140 |
|
|
| Selling, General and Administrative Expense |
13,534 |
6,060 |
41,994 |
17,824 |
|
|
| Special Charges Net |
(229) |
(37) |
(2,443) |
(176) |
|
|
| Other Cost and Expense, Operating |
(96) |
92 |
(395) |
313 |
|
|
| Operating income (loss): |
14,327 |
8,836 |
43,588 |
22,827 |
|
|
| Interest Expense |
(2,806) |
(6,924) |
(9,406) |
(13,111) |
|
|
| Intercompany Royalty and Technical Service Fees Net |
(1,150) |
(1,681) |
(3,943) |
(4,985) |
|
|
| Foreign currency and other, net |
979 |
(5) |
854 |
(252) |
|
|
| Equity in earnings of subsidiaries |
(27,303) |
989 |
(25,764) |
6,679 |
|
|
| Income (loss) before income taxes |
(8,041) |
18,425 |
32,027 |
47,350 |
|
|
| Income Tax Expense (Benefit) |
4,818 |
2,815 |
10,403 |
4,502 |
|
|
| Net income (loss) |
(12,859) |
15,610 |
21,624 |
42,848 |
|
|
| Less: Earnings attributable to noncontrolling interests |
0 |
|
0 |
|
|
|
| Net income (loss) attributable to Polymer Group, Inc. |
(12,859) |
|
21,624 |
|
|
|
| Comprehensive income (loss) attributable to Polymer Group, Inc. |
(45,806) |
23,413 |
(7,620) |
48,449 |
|
|
|
Non-Guarantors
|
|
|
|
|
|
|
| Condensed Financial Statements, Captions [Line Items] |
|
|
|
|
|
|
| Sales Revenue, Goods, Net |
352,150 |
201,840 |
946,836 |
607,758 |
|
|
| Long-term Debt, Current Maturities |
28,305 |
|
28,305 |
|
10,758 |
|
| Other Liabilities, Noncurrent |
79,561 |
|
79,561 |
|
28,663 |
|
| Liabilities |
436,900 |
|
436,900 |
|
307,513 |
|
| Liabilities, Current |
260,363 |
|
260,363 |
|
225,529 |
|
| Current assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
65,760 |
61,168 |
65,760 |
61,168 |
70,893 |
69,108 |
| Accounts receivable, net |
218,084 |
|
218,084 |
|
147,999 |
|
| Inventories, net |
132,345 |
|
132,345 |
|
109,646 |
|
| Deferred income taxes |
9,672 |
|
9,672 |
|
2,318 |
|
| Other current assets |
67,991 |
|
67,991 |
|
44,513 |
|
| Total current assets |
493,852 |
|
493,852 |
|
375,369 |
|
| Property, plant and equipment, net of accumulated depreciation of $223,653 and $175,159, respectively |
780,145 |
|
780,145 |
|
442,768 |
|
| Goodwill |
145,988 |
|
145,988 |
|
60,645 |
|
| Intangible assets, net |
15,253 |
|
15,253 |
|
12,728 |
|
| Net investment in and advances to (from) subsidiaries |
(754,385) |
|
(754,385) |
|
(363,414) |
|
| Deferred income taxes |
3,621 |
|
3,621 |
|
2,582 |
|
| Other noncurrent assets |
25,611 |
|
25,611 |
|
16,885 |
|
| Total assets |
710,085 |
|
710,085 |
|
547,563 |
|
| Common stock |
16,966 |
|
16,966 |
|
16,966 |
|
| Stockholders' Equity Attributable to Parent |
166,380 |
|
166,380 |
|
222,241 |
|
| Noncontrolling interests |
89,839 |
|
89,839 |
|
843 |
|
| Total equity |
273,185 |
|
273,185 |
|
240,050 |
|
| Total liabilities and equity |
710,085 |
|
710,085 |
|
547,563 |
|
| Short-term borrowings |
15,683 |
|
15,683 |
|
2,062 |
|
| Long-term Debt, Excluding Current Maturities |
26,579 |
|
26,579 |
|
29,632 |
|
| Deferred Tax Liabilities, Net, Noncurrent |
70,397 |
|
70,397 |
|
23,689 |
|
| Accounts Payable and Accrued Liabilities, Current |
216,904 |
|
216,904 |
|
209,271 |
|
| Accrued Income Taxes, Current |
(537) |
|
(537) |
|
3,244 |
|
| Deferred Tax Liabilities, Net, Current |
8 |
|
8 |
|
194 |
|
| Cost of Goods Sold |
299,605 |
168,572 |
792,746 |
504,313 |
|
|
| Gross Profit |
52,545 |
33,268 |
154,090 |
103,445 |
|
|
| Selling, General and Administrative Expense |
37,850 |
18,325 |
106,063 |
56,299 |
|
|
| Special Charges Net |
(10,778) |
(517) |
(22,602) |
(2,107) |
|
|
| Other Cost and Expense, Operating |
(2,024) |
615 |
3,210 |
1,717 |
|
|
| Operating income (loss): |
5,941 |
13,811 |
22,215 |
43,322 |
|
|
| Interest Expense |
11,019 |
5,309 |
23,024 |
13,429 |
|
|
| Intercompany Royalty and Technical Service Fees Net |
3,451 |
3,106 |
(955) |
9,166 |
|
|
| Foreign currency and other, net |
(20,764) |
(512) |
(28,594) |
(2,585) |
|
|
| Equity in earnings of subsidiaries |
0 |
0 |
0 |
0 |
|
|
| Income (loss) before income taxes |
(31,668) |
4,884 |
(30,823) |
18,142 |
|
|
| Income Tax Expense (Benefit) |
(2,498) |
3,810 |
(866) |
11,463 |
|
|
| Net income (loss) |
(29,170) |
1,074 |
(29,957) |
6,679 |
|
|
| Less: Earnings attributable to noncontrolling interests |
(1,923) |
|
(4,216) |
|
|
|
| Net income (loss) attributable to Polymer Group, Inc. |
(27,247) |
|
(25,741) |
|
|
|
| Comprehensive income (loss) attributable to Polymer Group, Inc. |
(51,084) |
1,603 |
(44,583) |
6,939 |
|
|
|
Eliminations
|
|
|
|
|
|
|
| Condensed Financial Statements, Captions [Line Items] |
|
|
|
|
|
|
| Sales Revenue, Goods, Net |
275 |
(5,882) |
(28,177) |
(16,009) |
|
|
| Long-term Debt, Current Maturities |
0 |
|
0 |
|
0 |
|
| Other Liabilities, Noncurrent |
0 |
|
0 |
|
0 |
|
| Liabilities |
(2,823) |
|
(2,823) |
|
(2,822) |
|
| Liabilities, Current |
1,148 |
|
1,148 |
|
1,148 |
|
| Current assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
0 |
0 |
0 |
0 |
0 |
0 |
| Accounts receivable, net |
0 |
|
0 |
|
0 |
|
| Inventories, net |
0 |
|
0 |
|
0 |
|
| Deferred income taxes |
(2,823) |
|
(2,823) |
|
(2,823) |
|
| Other current assets |
0 |
|
0 |
|
0 |
|
| Total current assets |
(2,823) |
|
(2,823) |
|
(2,823) |
|
| Property, plant and equipment, net of accumulated depreciation of $223,653 and $175,159, respectively |
0 |
|
0 |
|
0 |
|
| Goodwill |
0 |
|
0 |
|
0 |
|
| Intangible assets, net |
0 |
|
0 |
|
0 |
|
| Net investment in and advances to (from) subsidiaries |
(1,172,484) |
|
(1,172,484) |
|
(1,265,756) |
|
| Deferred income taxes |
0 |
|
0 |
|
0 |
|
| Other noncurrent assets |
0 |
|
0 |
|
0 |
|
| Total assets |
(1,175,307) |
|
(1,175,307) |
|
(1,268,579) |
|
| Common stock |
(16,966) |
|
(16,966) |
|
(16,966) |
|
| Stockholders' Equity Attributable to Parent |
(1,155,518) |
|
(1,155,518) |
|
(1,248,791) |
|
| Noncontrolling interests |
0 |
|
0 |
|
0 |
|
| Total equity |
(1,172,484) |
|
(1,172,484) |
|
(1,265,757) |
|
| Total liabilities and equity |
(1,175,307) |
|
(1,175,307) |
|
(1,268,579) |
|
| Short-term borrowings |
0 |
|
0 |
|
0 |
|
| Long-term Debt, Excluding Current Maturities |
0 |
|
0 |
|
0 |
|
| Deferred Tax Liabilities, Net, Noncurrent |
(3,971) |
|
(3,971) |
|
(3,970) |
|
| Accounts Payable and Accrued Liabilities, Current |
0 |
|
0 |
|
0 |
|
| Accrued Income Taxes, Current |
0 |
|
0 |
|
0 |
|
| Deferred Tax Liabilities, Net, Current |
1,148 |
|
1,148 |
|
1,148 |
|
| Cost of Goods Sold |
275 |
(5,882) |
(28,177) |
(16,009) |
|
|
| Gross Profit |
0 |
0 |
0 |
0 |
|
|
| Selling, General and Administrative Expense |
0 |
0 |
0 |
0 |
|
|
| Special Charges Net |
0 |
0 |
0 |
0 |
|
|
| Other Cost and Expense, Operating |
0 |
0 |
0 |
0 |
|
|
| Operating income (loss): |
0 |
0 |
0 |
0 |
|
|
| Interest Expense |
0 |
0 |
0 |
0 |
|
|
| Intercompany Royalty and Technical Service Fees Net |
0 |
0 |
0 |
0 |
|
|
| Foreign currency and other, net |
0 |
0 |
0 |
0 |
|
|
| Equity in earnings of subsidiaries |
40,106 |
(16,684) |
4,117 |
(49,527) |
|
|
| Income (loss) before income taxes |
40,106 |
(16,684) |
4,117 |
(49,527) |
|
|
| Income Tax Expense (Benefit) |
0 |
0 |
0 |
0 |
|
|
| Net income (loss) |
40,106 |
(16,684) |
4,117 |
(49,527) |
|
|
| Less: Earnings attributable to noncontrolling interests |
0 |
|
0 |
|
|
|
| Net income (loss) attributable to Polymer Group, Inc. |
40,106 |
|
4,117 |
|
|
|
| Comprehensive income (loss) attributable to Polymer Group, Inc. |
96,890 |
(25,016) |
52,203 |
(55,388) |
|
|
|
Maximum
|
|
|
|
|
|
|
| Condensed Financial Statements, Captions [Line Items] |
|
|
|
|
|
|
| Other Liabilities, Noncurrent |
$ 107,049 |
|
$ 107,049 |
|
|
|