Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 02, 2016

Accounting Policies [Abstract]

Schedule of Inventory, Current

Inventories at January 2, 2016 and January 3, 2015 are as follows:

	2015		2014
	(dollars in thousands)
Raw materials and parts	$	180,262	$	126,121
Work in process	34,771		17,828
Finished goods	139,117		111,827
	$	354,150	$	255,776

Property, Plant and Equipment

Property, plant and equipment are carried at cost as follows:

	2015			2014
	(dollars in thousands)
Land	$	18,401		$	10,642
Building and improvements	108,210			84,777
Furniture and fixtures	52,738			28,597
Machinery and equipment	120,746			88,679
	300,095			212,695
Less accumulated depreciation	(100,345		)	(82,998		)
	$	199,750		$	129,697

Schedule Of Useful Lives For Property Plant Equipment

Following is a summary of the estimated useful lives:

Description	Life
Building and improvements	20 to 40 years
Furniture and fixtures	3 to 7 years
Machinery and equipment	3 to 10 years

Schedule of Goodwill

Goodwill is allocated to the business segments as follows (in thousands):

	Commercial Foodservice			Food Processing			Residential Kitchen			Total
Balance as of December 28, 2013	$	444,321		$	127,872		$	115,762		$	687,955
Goodwill acquired during the year	12,567			11,061			105,700			129,328
Measurement period adjustments to goodwill acquired in prior year	(1,533		)	—			1,627			94
Exchange effect	(4,465		)	(4,421		)	—			(8,886		)
Balance as of January 3, 2015	$	450,890		$	134,512		$	223,089		$	808,491
Goodwill acquired during the year	29,032			2,987			166,774			198,793
Measurement period adjustments to goodwill acquired in prior year	(1,126		)	63			(8,000		)	(9,063		)
Exchange effect	(5,669		)	(3,470		)	(5,743		)	(14,882		)
Balance as of January 2, 2016	$	473,127		$	134,092		$	376,120		$	983,339

Schedule Of Intangible Assets By Major Class

Intangible assets consist of the following (in thousands):

	January 2, 2016						January 3, 2015
	Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization			Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Customer lists	6.1	$	264,373	$	(109,096	)	4.7	$	167,278	$	(84,312	)
Backlog	0.3	13,763		(12,963		)	0.0	11,178		(11,178		)
Developed technology	3.8	20,868		(17,220		)	4.6	19,786		(16,356		)
		$	299,004	$	(139,279	)		$	198,242	$	(111,846	)
Indefinite-lived assets:
Trademarks and tradenames		$	589,705					$	405,635

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization expense of intangible assets is as follows (in thousands):

2016	$	31,649
2017	26,647
2018	25,410
2019	19,362
2020	16,779
Thereafter	39,878
	$	159,725

Schedule of Accrued Liabilities

Accrued expenses consist of the following at January 2, 2016 and January 3, 2015, respectively:

	2015		2014
	(dollars in thousands)
Accrued payroll and related expenses	$	65,623	$	50,844
Advanced customer deposits	57,595		20,367
Accrued customer rebates	45,154		32,357
Accrued warranty	37,901		28,786
Accrued sales and other tax	13,537		7,660
Accrued product liability and workers compensation	11,635		14,582
Accrued agent commission	9,948		11,207
Product recall	7,786		12,125
Accrued professional services	7,019		7,053
Restructuring	6,266		37
Other accrued expenses	57,690		35,567
	$	320,154	$	220,585

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the components of accumulated other comprehensive income (loss) as reported in the consolidated balance sheets:

	2015			2014
	(dollars in thousands)
Unrecognized pension benefit costs, net of tax	$	(23,579	)	$	(6,540	)
Unrealized loss on interest rate swap, net of tax	9			(236		)
Currency translation adjustments	(52,842		)	(24,655		)
	$	(76,412	)	$	(31,431	)

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The company’s financial assets and liabilities that are measured at fair value are categorized using the fair value hierarchy at January 2, 2016 and January 3, 2015 are as follows (in thousands):

	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of January 2, 2016
Financial Assets:
Pension Plans	$	785,034	$	518,576	—		$	1,303,610
Financial Liabilities:
Interest rate swaps	—		$	412	—		$	412
Contingent consideration	—		—		$	11,065	$	11,065
As of January 3, 2015
Financial Assets:
Pension Plans	$	27,647	$	1,234	—		$	28,881
Financial Liabilities:
Interest rate swaps	—		$	810	—		$	810
Contingent consideration	—		—		$	14,558	$	14,558

Schedule of Product Warranty Liability

A rollforward of the warranty reserve for the fiscal years 2015 and 2014 are as follows:

	2015			2014
	(dollars in thousands)
Beginning balance	$	28,786		$	20,826
Warranty reserve related to acquisitions	5,815			2,450
Warranty expense	45,994			44,547
Warranty claims paid	(42,694		)	(39,037		)
Ending balance	$	37,901		$	28,786