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REDEEMABLE NONCONTROLLING INTERESTS
12 Months Ended
Jan. 03, 2015
Noncontrolling Interest [Abstract]  
REDEEMABLE NONCONTROLLING INTERESTS
REDEEMABLE NONCONTROLLING INTERESTS
During 2014, the Company completed two acquisitions that each contained a noncontrolling interest and a redemption feature. The combination of the noncontrolling interest and the redemption feature resulted in the classification as a redeemable noncontrolling interest. The total redeemable noncontrolling interest recorded as of the acquisition date for these acquisitions during 2014 was $3.1 million, and represents the fair value estimates of the redeemable noncontrolling interests as of the respective acquisition dates. As of January 3, 2015, the redeemable noncontrolling interests related to these acquisitions were recorded at carrying value.

On May 2, 2011, the Company completed the acquisition of 80 percent of Impo. The original 20 percent noncontrolling interest was recorded at fair value as of the acquisition date. The noncontrolling interest holders have the option, which is embedded in the noncontrolling interest, to require the Company to redeem their ownership interests after May 2, 2014, three years after the original agreement was signed. The combination of a noncontrolling interest and a redemption feature resulted in a redeemable noncontrolling interest.

During the second quarter of 2014, the Company redeemed 10 percent of the noncontrolling interest of Impo, increasing the Company's ownership to 90 percent for approximately TRY 6.2 million, $2.9 million at the then current exchange rate. The 10 percent redemption value was calculated using a specified formula and resulted in a carrying value adjustment of TRY 0.2 million ($0.1 million). The redemption reduced the "Redeemable noncontrolling interest" line in the Company's consolidated balance sheet. The remaining 10 percent noncontrolling interest will continue to be recorded as a redeemable noncontrolling interest on the balance sheet. Due to the immaterial nature of the redemption, the Company has not included full year proforma statements of income for the acquisition year or previous year.

The Company uses the interest method to accrete changes in the anticipated redemption value of the Impo redeemable noncontrolling interest over an amortization period to the earliest projected redemption date. Adjustments for both the redeemed and redeemable Impo noncontrolling interests were $0.9 million and $0.2 million for the fiscal years ended 2014 and 2013, respectively. No adjustments were necessary for the fiscal year ended 2012. These adjustments were reflected in the computation of earnings per share using the two-class method.