Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 30, 2017

Accounting Policies [Abstract]

Schedule of Inventory, Current

Inventories at December 30, 2017 and December 31, 2016 are as follows:

	2017		2016
	(dollars in thousands)
Raw materials and parts	$	180,559	$	154,647
Work in process	38,917		35,975
Finished goods	205,163		177,621
	$	424,639	$	368,243

Property, Plant and Equipment

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

	2017			2016
	(dollars in thousands)
Land	$	28,996		$	21,309
Building and improvements	175,678			134,158
Furniture and fixtures	54,362			56,851
Machinery and equipment	165,157			128,688
	424,193			341,006
Less accumulated depreciation	(142,278		)	(119,435		)
	$	281,915		$	221,571

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 January 2, 2016	$	473,127		$	134,092		$	376,120		$	983,339
Goodwill acquired during the year	76,972			1,958			—			78,930
Measurement period adjustments to goodwill acquired in prior year	(503		)	—			86,822			86,319
Exchange effect	(7,506		)	(1,370		)	(46,990		)	(55,866		)
Balance as of December 31, 2016	$	542,090		$	134,680		$	415,952		$	1,092,722
Goodwill acquired during the year	118,419			58,899			—			177,318
Measurement period adjustments to goodwill acquired in prior year	(36,408		)	41			—			(36,367		)
Exchange effect	7,350			4,658			19,129			31,137
Balance as of December 30, 2017	$	631,451		$	198,278		$	435,081		$	1,264,810

Schedule Of Intangible Assets By Major Class

Intangible assets consist of the following (in thousands):

	December 30, 2017						December 31, 2016
	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	5.2	$	330,496	$	(171,005	)	5.5	$	251,025	$	(136,895	)
Backlog	0.8	19,689		(18,081		)	0.0	13,550		(13,550		)
Developed technology	4.2	22,485		(18,248		)	4.8	24,874		(17,924		)
		$	372,670	$	(207,334	)		$	289,449	$	(168,369	)
Indefinite-lived assets:
Trademarks and tradenames		$	615,090					$	575,091

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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

2018	$	39,017
2019	29,423
2020	28,560
2021	25,153
2022	21,056
2023 and thereafter	22,127
	$	165,336

Schedule of Accrued Liabilities

Accrued expenses consist of the following at December 30, 2017 and December 31, 2016, respectively:

	2017		2016
	(dollars in thousands)
Accrued payroll and related expenses	$	67,935	$	74,505
Accrued warranty	52,834		40,851
Accrued customer rebates	48,590		49,923
Advanced customer deposits	31,069		41,735
Accrued sales and other tax	20,881		13,565
Accrued professional fees	18,250		16,605
Accrued product liability and workers compensation	11,976		11,417
Accrued agent commission	11,035		12,834
Product recall	6,068		7,003
Restructuring	1,715		2,295
Other accrued expenses	51,818		64,872
	$	322,171	$	335,605

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:

	2017			2016
	(dollars in thousands)
Unrecognized pension benefit costs, net of tax of ($43,592) and ($38,004)	$	(203,063	)	$	(173,394	)
Unrealized gain on interest rate swap, net of tax of $4,243 and $3,655	6,365			5,482
Currency translation adjustments	(69,721		)	(116,411		)
	$	(266,419	)	$	(284,323	)

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 December 30, 2017 and December 31, 2016 are as follows (in thousands):

	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of December 30, 2017
Financial Assets:
Interest rate swaps	$	—	$	10,266	$	—	$	10,266
Financial Liabilities:
Interest rate swaps	$	—	$	—	$	—	$	—
Contingent consideration	$	—	$	—	$	1,780	$	1,780
As of December 31, 2016
Financial Assets:
Interest rate swaps	$	—	$	8,842	$	—	$	8,842
Financial Liabilities:
Interest rate swaps	$	—	$	100	$	—	$	100
Contingent consideration	$	—	$	—	$	6,612	$	6,612

Schedule of Product Warranty Liability

A rollforward of the warranty reserve for the fiscal years 2017 and 2016 are as follows:

	2017			2016
	(dollars in thousands)
Beginning balance	$	40,851		$	37,901
Warranty reserve related to acquisitions	7,769			2,446
Warranty expense	58,398			48,975
Warranty claims paid	(54,184		)	(48,471		)
Ending balance	$	52,834		$	40,851