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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 28, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Components of inventories

 

 

 
   June 28,
2014		   December 28,
2013		  

Raw materials and purchased parts

   $ 178,366   $ 179,576  

Work-in-process

     27,242     27,294  

Finished goods and manufactured goods

     223,476     218,334  
           
​ ​ ​ ​ ​ ​ ​ ​

Subtotal

     429,084     425,204  

Less: LIFO reserve

     47,141     45,204  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 381,943   $ 380,000  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries

 

 

 
   Thirteen Weeks
Ended		   Twenty-six Weeks
Ended		  
 
   2014   2013   2014   2013  

United States

   $ 65,096   $ 98,684   $ 136,790   $ 187,421  

Foreign

     34,856     39,531     49,740     63,703  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 99,952   $ 138,215   $ 186,530   $ 251,124  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
Schedule of components of the net periodic pension expense

 

 

 
   Thirteen Weeks
Ended		   Twenty-six Weeks
Ended		  
 
   2014   2013   2014   2013  

Net periodic benefit expense:

                          

Interest cost

   $ 7,312   $ 6,487   $ 14,509   $ 13,058  

Expected return on plan assets

     (6,640 )   (4,875 )   (13,175 )   (9,813 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net periodic benefit expense

   $ 672   $ 1,612   $ 1,334   $ 3,245  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options

 

 

 
   Thirteen Weeks
Ended		   Twenty-six Weeks
Ended		  
 
   2014   2013   2014   2013  

Compensation expense

   $ 1,262   $ 1,314   $ 2,525   $ 2,627  

Income tax benefits

     486     505     972     1,011  
Valuation methodologies used for assets and liabilities measured at fair value

 

 

 
    
   Fair Value Measurement Using:  
 
   Carrying Value
June 28,
2014		   Quoted Prices in
Active Markets
for Identical
Assets (Level 1)		   Significant Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		  

Assets:

                          

Trading Securities

   $ 45,966   $ 45,966   $ —   $ —  


 

 
    
   Fair Value Measurement Using:  
 
   Carrying Value
December 28,
2013		   Quoted Prices in
Active Markets
for Identical
Assets (Level 1)		   Significant Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		  

Assets:

                          

Trading Securities

   $ 41,043   $ 41,043   $ —   $ —  
Components of accumulated other comprehensive income (loss)

 

 

 
   Foreign
Currency
Translation
Adjustments		   Unrealized
Loss on Cash
Flow Hedge		   Defined
Benefit
Pension Plan		   Accumulated
Other
Comprehensive
Income		  

Balance at December 28, 2013

   $ (20,165 ) $ (2,535 ) $ (24,985 ) $ (47,685 )

Current-period comprehensive income (loss)

     26,261     67     (847 )   25,481  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance at June 28, 2014

   $ 6,096   $ (2,468 ) $ (25,832 ) $ (22,204 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​