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Accounts Receivable Factoring
3 Months Ended
Apr. 01, 2017
Accounts Receivable Factoring [Abstract]  
Accounts Receivable Factoring
ACCOUNTS RECEIVABLE FACTORING

We have multiple accounts receivable factoring arrangements with non-related third-party financial institutions (the “Factors”). Pursuant to the terms of the arrangements, we sell to the Factors certain of our accounts receivable balances on a non-recourse basis for credit approved accounts. An administrative fee ranging from 0.14% to 0.15% per invoice is charged on the gross amount of accounts receivables assigned to the Factors, and interest is calculated at the applicable EUR LIBOR rate plus 70 basis points. The total amount factored on a non-recourse basis and excluded from accounts receivable was $19.3 million and $50.7 million at April 1, 2017 and December 31, 2016, respectively.