Description of Business and Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2011
|
Description of Business and Summary of Significant Accounting Policies [Abstract] |
|
Composition of Trade Receivables |
The composition of net trade receivables is as follows: | | | | | | | | | | December 31, 2011 | | December 25, 2010 | Client receivables | $ | 159,381 |
| | $ | 170,696 |
| Unbilled revenue | 29,446 |
| | 27,095 |
| Total | 188,827 |
| | 197,791 |
| Less allowance for doubtful accounts | (4,017 | ) | | (4,819 | ) | Net trade receivables | $ | 184,810 |
| | $ | 192,972 |
|
|
Schedule of Marketable Securities by Major Security Type |
The amortized cost, gross unrealized gains, gross unrealized losses and fair value for marketable securities by major security type were as follows: | | | | | | | | | | | | | | | | | | December 31, 2011 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Time deposits | $ | 5,359 |
| | $ | — |
| | $ | — |
| | $ | 5,359 |
| Auction rate securities | 11,972 |
| | — |
| | (921 | ) | | 11,051 |
| | $ | 17,331 |
| | $ | — |
| | $ | (921 | ) | | $ | 16,410 |
|
| | | | | | | | | | | | | | | | | | December 25, 2010 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | Time deposits | $ | 9,834 |
| | $ | — |
| | $ | — |
| | $ | 9,834 |
| Auction rate securities | 11,974 |
| | — |
| | (597 | ) | | 11,377 |
| | $ | 21,808 |
| | $ | — |
| | $ | (597 | ) | | $ | 21,211 |
|
|
Schedule of Maturities of Debt Securities |
Maturities of debt securities were as follows: | | | | | | | | | | | | | | | | | | December 31, 2011 | | December 25, 2010 | | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | Due less than one year | $ | 5,359 |
| | $ | 5,359 |
| | $ | 9,834 |
| | $ | 9,834 |
| Due after one year through five years | — |
| | — |
| | — |
| | — |
| Due after ten years | 11,972 |
| | 11,051 |
| | 11,974 |
| | 11,377 |
| | $ | 17,331 |
| | $ | 16,410 |
| | $ | 21,808 |
| | $ | 21,211 |
|
|
Composition of Inventories |
The composition of inventories is as follows: | | | | | | | | | | December 31, 2011 | | December 25, 2010 | Raw materials and supplies | $ | 13,987 |
| | $ | 13,153 |
| Work in process | 13,533 |
| | 13,869 |
| Finished products | 65,449 |
| | 73,275 |
| Inventories | $ | 92,969 |
| | $ | 100,297 |
|
|
Composition of Current Assets |
Other current assets consist of assets we intend to settle within the next twelve months. | | | | | | | | | | December 31, 2011 | | December 25, 2010 | Prepaid assets | $ | 22,828 |
| | $ | 21,434 |
| Deferred tax asset | 30,894 |
| | 31,251 |
| Marketable securities | 5,359 |
| | 9,834 |
| Prepaid income tax | 19,742 |
| | 13,856 |
| Restricted cash | 229 |
| | 228 |
| Other current assets | $ | 79,052 |
| | $ | 76,603 |
|
|
Composition of Net Property, Plant and Equipment |
The composition of net property, plant and equipment is as follows: | | | | | | | | | | December 31, 2011 | | December 25, 2010 | Land | $ | 40,517 |
| | $ | 40,409 |
| Buildings | 696,275 |
| | 694,342 |
| Machinery and equipment | 348,795 |
| | 327,353 |
| Leasehold improvements | 29,975 |
| | 26,772 |
| Furniture and fixtures | 10,663 |
| | 10,473 |
| Vehicles | 5,226 |
| | 5,456 |
| Computer hardware and software | 105,563 |
| | 106,073 |
| Construction in progress | 57,661 |
| | 45,465 |
| Total | 1,294,675 |
| | 1,256,343 |
| Less accumulated depreciation | (556,645 | ) | | (503,686 | ) | Net property, plant and equipment | $ | 738,030 |
| | $ | 752,657 |
|
|
Composition of Other Assets |
The composition of other assets is as follows: | | | | | | | | | | December 31, 2011 | | December 25, 2010 | Deferred financing costs | $ | 9,239 |
| | $ | 11,167 |
| Cash surrender value of life insurance policies | 25,057 |
| | 31,054 |
| Long term marketable securities | 11,051 |
| | 11,377 |
| Other assets | 12,312 |
| | 8,725 |
| Other assets | $ | 57,659 |
| | $ | 62,323 |
|
|
Schedule of Restructuring and Contract Termination Costs |
The following table rolls forward our severance and retention cost liability: | | | | | | | | | | | | | | Severance and Retention Costs | | 2011 | | 2010 | | 2009 | Balance, beginning of period | $ | 10,658 |
| | $ | 4,332 |
| | $ | 639 |
| Expense | 5,462 |
| | 16,504 |
| | 16,334 |
| Payments/utilization | (12,746 | ) | | (10,178 | ) | | (12,641 | ) | Balance, end of period | $ | 3,374 |
| | $ | 10,658 |
| | $ | 4,332 |
|
The following table presents severance and retention costs by classification on the income statement: | | | | | | | | | | | | | | Fiscal Year Ended | | 2011 | | 2010 | | 2009 | Severance charges included in cost of sales | $ | 1,012 |
| | $ | 10,860 |
| | $ | 5,005 |
| Severance charges included in selling, general and administrative expense | 4,450 |
| | 5,644 |
| | 11,339 |
| Total expense | $ | 5,462 |
| | $ | 16,504 |
| | $ | 16,344 |
|
The following table presents severance and retention cost by segment: | | | | | | | | | | | | | | Fiscal Year Ended | | 2011 | | 2010 | | 2009 | Research models and services | $ | 1,196 |
| | $ | 4,429 |
| | $ | 3,997 |
| Preclinical services | 4,372 |
| | 9,145 |
| | 9,722 |
| Corporate | (106 | ) | | 2,930 |
| | 2,625 |
| Total expense | $ | 5,462 |
| | $ | 16,504 |
| | $ | 16,344 |
|
|
Composition of Other Current Liabilities |
The composition of other current liabilities is as follows: | | | | | | | | | | December 31, 2011 | | December 25, 2010 | Accrued income taxes | $ | 10,552 |
| | $ | 18,372 |
| Current deferred tax liability | 1,379 |
| | 963 |
| Accrued interest and other | 2,102 |
| | 760 |
| Other current liabilities | $ | 14,033 |
| | $ | 20,095 |
|
|
Composition of Other Long-Term Liabilities |
The composition of other long-term liabilities is as follows: | | | | | | | | | | December 31, 2011 | | December 25, 2010 | Deferred tax liability | $ | 16,074 |
| | $ | 30,050 |
| Long-term pension liability | 49,223 |
| | 36,335 |
| Accrued Executive Supplemental Life Insurance Retirement Plan and Deferred Compensation Plan | 25,739 |
| | 24,659 |
| Other long-term liabilities | 17,415 |
| | 23,552 |
| Other long-term liabilities | $ | 108,451 |
| | $ | 114,596 |
|
|
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis |
Assets and liabilities measured at fair value on a recurring basis are summarized below: | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2011 using | | Quoted Prices in Active Markets for Identical Assets Level 1 | | Significant Other Observable Inputs Level 2 | | Significant Unobservable Inputs Level 3 | | Assets and Liabilities at Fair Value | Time deposits | $ | — |
| | $ | 5,359 |
| | $ | — |
| | $ | 5,359 |
| Auction rate securities | — |
| | — |
| | 11,051 |
| | 11,051 |
| Fair value of life policies | — |
| | 19,520 |
| | — |
| | 19,520 |
| Hedge contract | — |
| | 5 |
| | — |
| | 5 |
| Total assets measured at fair value | $ | — |
| | $ | 24,884 |
| | $ | 11,051 |
| | $ | 35,935 |
| Contingent consideration | — |
| | — |
| | — |
| | — |
| Total liabilities measured at fair value | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | Fair Value Measurements at December 25, 2010 using | | Quoted Prices in Active Markets for Identical Assets Level 1 | | Significant Other Observable Inputs Level 2 | | Significant Unobservable Inputs Level 3 | | Assets and Liabilities at Fair Value | Time deposits | $ | — |
| | $ | 9,834 |
| | $ | — |
| | $ | 9,834 |
| Auction rate securities | — |
| | — |
| | 11,377 |
| | 11,377 |
| Fair value of life policies | — |
| | 25,609 |
| | — |
| | 25,609 |
| Hedge contract | — |
| | 419 |
| | — |
| | 419 |
| Total assets measured at fair value | $ | — |
| | $ | 35,862 |
| | $ | 11,377 |
| | $ | 47,239 |
| Contingent consideration | — |
| | — |
| | 5,365 |
| | 5,365 |
| Total liabilities measured at fair value | $ | — |
| | $ | — |
| | $ | 5,365 |
| | $ | 5,365 |
|
|
Reconcilliation of Assets and Liabilities Measured at Fair Value on Recurring Basis (Level 3) |
The following table presents a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2011 and December 25, 2010. Our auction rate securities were valued at fair value by management in part utilizing an independent valuation reviewed by management which used pricing models and discounted cash flow methodologies incorporating assumptions that reflect the assumptions a marketplace participant would use at December 31, 2011.
| | | | | | | | | | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | | Year ended | Auction rate securities | December 31, 2011 |
| | December 25, 2010 |
| Beginning balance | $ | 11,377 |
| | $ | 16,212 |
| Transfers in and/or out of Level 3 | — |
| | — |
| Total gains or losses (realized/unrealized): | | | | Included in earnings (other expenses) | (1 | ) | | 14 |
| Included in other comprehensive income | (325 | ) | | 651 |
| Purchases, issuances and settlements | — |
| | (5,500 | ) | Ending balance | $ | 11,051 |
| | $ | 11,377 |
|
| | | | | | | | | | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | | Year ended | Contingent Consideration | December 31, 2011 |
| | December 25, 2010 |
| Beginning balance | $ | 5,365 |
| | $ | 9,300 |
| Transfers in and/or out of Level 3 | — |
| | — |
| Total gains or losses (realized/unrealized): | | | | Included in selling, general and administrative expense | (5,365 | ) | | (3,935 | ) | Included in other comprehensive income | — |
| | — |
| Purchases, issuances and settlements | — |
| | — |
| Ending balance | $ | — |
| | $ | 5,365 |
|
|