SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jul. 01, 2017

Accounting Policies [Abstract]

Components of inventories

Inventories consisted of the following:

	July 1, 2017		December 31, 2016
Raw materials and purchased parts	$	163,214	$	143,659
Work-in-process	33,543		27,291
Finished goods and manufactured goods	225,151		217,125
Subtotal	421,908		388,075
Less: LIFO reserve	39,260		38,047
	$	382,648	$	350,028

Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries

Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended July 1, 2017 and June 25, 2016, were as follows:

	Thirteen Weeks Ended				Twenty-six Weeks Ended
	2017		2016		2017		2016
United States	$	50,773	$	44,240	$	86,197	$	83,840
Foreign	17,634		18,403		37,534		29,247
	$	68,407	$	62,643	$	123,731	$	113,087

Schedule of components of the net periodic pension (benefit) expense

The components of the net periodic pension (benefit) expense for the thirteen and twenty-six weeks ended July 1, 2017 and June 25, 2016 were as follows:

	Thirteen Weeks Ended						Twenty-six Weeks Ended
Net periodic (benefit) expense:	2017			2016			2017			2016
Interest cost	$	4,478		$	6,659		$	8,799		$	13,042
Expected return on plan assets	(5,054		)	(6,084		)	(9,931		)	(12,083		)
Amortization of actuarial loss	736			—			1,446			—
Net periodic expense	$	160		$	575		$	314		$	959

Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options

The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options for the thirteen and twenty-six weeks ended July 1, 2017 and June 25, 2016, respectively, were as follows:

	Thirteen Weeks Ended				Twenty-six Weeks Ended
	2017		2016		2017		2016
Compensation expense	$	1,289	$	1,468	$	2,578	$	2,959
Income tax benefits	496		565		993		1,139

Valuation methodologies used for assets and liabilities measured at fair value

			Fair Value Measurement Using:
	Carrying Value July 1, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Trading Securities	$	40,663	$	40,663	$	—	$	—

			Fair Value Measurement Using:
	Carrying Value December 31, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Trading Securities	$	37,800	$	37,800	$	—	$	—

Components of accumulated other comprehensive income (loss)

Accumulated other comprehensive income (loss) consisted of the following at July 1, 2017 and December 31, 2016:

	Foreign Currency Translation Adjustments			Gain on Hedging Activities			Defined Benefit Pension Plan			Accumulated Other Comprehensive Loss
Balance at December 31, 2016	$	(251,228	)	$	7,978		$	(103,109	)	$	(346,359	)
Current-period comprehensive income (loss)	41,599			(1,039		)	—			40,560
Balance at July 1, 2017	$	(209,629	)	$	6,939		$	(103,109	)	$	(305,799	)