Note 7 - Other (Income), Net

3 Months Ended

Apr. 01, 2018

Notes to Financial Statements

Other Income and Other Expense Disclosure [Text Block]

( 7 ) Other (Income), Net

As described in Note

3

and Note

16,

the Company adopted ASU

2017

-

07

in the

first

quarter of

2018.

ASU

2017

-

07

requires the Company to disaggregate the service cost component from the other components of net periodic benefit costs and requires application on a retrospective basis. Accordingly, the other components of net periodic benefit costs included in other income for the

three

month periods ended

April 

1,

 

2018

and

April 

2,

 

2017

were

$175,000

and

$156,000,

respectively.

During the

three

months ended

April 

1,

 

2018,

the Company recognized a net gain of

$281,000

related to the sale of idle assets and recognized foreign currency related losses of

$27,000

related to the U.S. dollar denominated monetary asset position of our Mexican subsidiaries for which the Mexican peso is the functional currency. For the

three

months ended

April 

2,

 

2017,

the Company recognized net gains of

$2,416,000

related to the sale of idle assets and recognized foreign currency related losses of

$430,000

for the

three

months ended

April 2, 2017.