XML 66 R54.htm IDEA: XBRL DOCUMENT v3.5.0.2
Fair Value Measurements (Fair Value Measurements - Assets and Liabilities Measured on Recurring and Nonrecurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)
$ in Thousands
Sep. 24, 2016
Dec. 26, 2015
Fair Value, Inputs, Level 2 [Member]    
Liabilities, Fair Value Disclosure [Abstract]    
Interest rate swaps [1] $ 6,456 $ 4,689
Fair Value, Inputs, Level 3 [Member]    
Liabilities, Fair Value Disclosure [Abstract]    
Contingent consideration [2] $ 280 $ 584
[1] The Company uses certain external sources in deriving the fair value of the interest rate swaps. The interest rate swaps were valued using observable inputs (e.g., LIBOR yield curves, credit spreads). Valuations of interest rate swaps may fluctuate considerably from period-to-period due to volatility in underlying interest rates, which are driven by market conditions and the duration of the instrument. Credit adjustments could have a significant impact on the valuations due to changes in credit ratings of the Company or its counterparties.
[2] As a result of the Colormaster acquisition in 2012 and the Robertex acquisition in 2013, the Company recorded contingent consideration liabilities at fair value. These fair value measurements were based on calculations that utilize significant inputs not observable in the market including forecasted revenues, gross margins and discount rates and thus represent Level 3 measurements. These fair value measurements are directly impacted by the Company's estimates. Accordingly, if the estimates within the fair value measurement are higher or lower, the Company would record additional charges or benefits, respectively, as appropriate.