v2.4.1.9
Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
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Components of Inventories |
Inventories consisted of the following: | | | | | | | | | | | | | | Raw Materials | | $ | 161,444 | | $ | 131,408 | | Work-in-process | | $ | 53,824 | | $ | 50,110 | | Finished goods | | $ | 244,282 | | $ | 229,089 | | Inventory Reserves | | $ | (39,075) | | $ | (28,381) | | Inventory, net of reserves | | $ | 420,475 | | $ | 382,226 | | |
Property, Plant and Equipment |
Property and equipment are recorded at cost and depreciated using the straight-line method over the following estimated useful lives: Buildings and improvements | | 39 | | Office furniture and equipment | | 3-5 | | Manufacturing and engineering equipment | | 5 | | Vehicles | | 5 | | |
Schedule of Dividends Payable |
On June 6, 2014, the shareholders approved a dividend of $1.92 per share (of which, $0.96 was paid in the Company's 2014 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows: Dividend Date | | Record Date | | $s per share | | | | | | $ | 0.48 | | | | | | $ | 0.48 | | | | | | $ | 0.48 | | | | | | $ | 0.48 | | On June 7, 2013, the shareholders approved a dividend of $1.80 per share (of which, $0.90 was paid in the Company's 2013 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows: Dividend Date | | Record Date | | $s per share | | | | | | $ | 0.45 | | | | | | $ | 0.45 | | | | | | $ | 0.45 | | | | | | $ | 0.45 | | On June 1, 2012, the shareholders approved a dividend of $1.80 per share (of which, $0.90 was paid in the Company's 2012 fiscal year) payable in four installments as follows: Dividend Date | | Record Date | | $s per share | | | | | | $ | 0.45 | | | | | | $ | 0.45 | | | | | | $ | 0.45 | | | | | | $ | 0.45 | | |
Change in Carrying Amount of Goodwill |
| | December 27, | | | | | | 2014 | | 2013 | | Goodwill balance at beginning of year | | $ | 179,290 | | $ | 176,059 | | Acquisitions | | | 2,517 | | | 2,726 | | Finalization of purchase price allocations and effect of foreign currency translation | | | (3,169) | | | 505 | | Goodwill balance at end of year | | $ | 178,638 | | $ | 179,290 | | |
Schedule of Product Warranty Liability |
The following reconciliation provides an illustration of changes in the aggregate warranty reserve: | | Fiscal Year Ended | | | | December 27, | | December 28, | | | | | | 2014 | | 2013 | | 2012 | | | | | | | | | | Balance - beginning of period | | $ | 26,767 | | $ | 37,301 | | $ | 46,773 | | Change in accrual for products sold in prior periods (1) | | | - | | | (8,709) | | | - | | Accrual for products sold(2) | | | 44,423 | | | 41,309 | | | 38,421 | | Expenditures | | | (43,581) | | | (43,134) | | | (47,893) | | Balance - end of period | | $ | 27,609 | | $ | 26,767 | | $ | 37,301 | | | (1) | Our expected future cost is estimated based upon historical trends in the volume of product returns and the related warranty costs incurred. In 2013 we updated these assumptions and shortened the estimated time horizon in which we settle claims with our retail partners. | | (2) | Minor changes in cost estimates related to pre-existing warranties are aggregated with accruals for new warranty contracts in the ‘accrual for products sold’ line. | |
X |
- Definition
Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 13
-Subparagraph b
-Article 5
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+ References
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-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766
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