INCOME TAXES (Tables)

12 Months Ended

Dec. 27, 2014

INCOME TAXES

Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries

	2014		2013		2012
United States	$	168,975	$	338,163	$	248,840
Foreign		115,208		111,254		110,450
	$	284,183	$	449,417	$	359,290

Schedule of income tax expense (benefit)

	2014			2013			2012
Current:
Federal	$	52,588		$	110,847		$	81,000
State		5,059			16,398			10,342
Foreign		32,443			39,285			32,294
		90,090			166,530			123,636
Non-current:		(447	)		1,392			(854	)
Deferred:
Federal		447			(8,661	)		(3,824	)
State		1,376			(307	)		(660	)
Foreign		3,428			(1,173	)		8,204
		5,251			(10,141	)		3,720
	$	94,894		$	157,781		$	126,502

Schedule of reconciliation of statutory federal income tax rate and effective tax rate

	2014			2013			2012
Statutory federal income tax rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal benefit		1.8			2.4			1.7
Carryforwards, credits and changes in valuation allowances		(0.4	)		0.9			1.8
Foreign tax rate differences		(4.4	)		(2.4	)		(2.5	)
Changes in unrecognized tax benefits		(0.2	)		0.3			(0.2	)
Domestic production activities deduction		(1.6	)		(2.1	)		(2.3	)
Other		3.2			1.0			1.7
		33.4	%		35.1	%		35.2	%

Schedule of tax effects of significant items comprising net deferred income tax liabilities

	2014			2013
Deferred income tax assets:
Accrued expenses and allowances	$	17,446		$	17,038
Accrued insurance		882			1,508
Tax credits and loss carryforwards		148,484			146,473
Defined benefit pension liability		30,025			30,879
Inventory allowances		4,804			3,938
Accrued warranty		6,920			6,552
Deferred compensation		40,348			51,413
Gross deferred income tax assets		248,909			257,801
Valuation allowance		(104,487	)		(107,767	)
Net deferred income tax assets		144,422			150,034
Deferred income tax liabilities:
Work in progress		5,352			—
Property, plant and equipment		43,084			36,657
Intangible assets		60,316			57,787
Other liabilities		6,738			7,206
Total deferred income tax liabilities		115,490			101,650
Net deferred income tax asset/(liability)	$	28,932		$	48,384

Schedule of deferred income tax assets (liabilities) presented on the Consolidated Balance Sheets

Balance Sheet Caption	2014			2013
Refundable and deferred income taxes	$	30,239		$	57,344
Other assets		70,490			69,964
Deferred income taxes		(71,797	)		(78,924	)
Net deferred income tax asset/(liability)	$	28,932		$	48,384

Schedule of activity related to unrecognized tax benefits

        The following summarizes the activity related to our unrecognized tax benefits in 2014 and 2013, in thousands:

	2014			2013
Gross unrecognized tax benefits—beginning of year	$	4,727		$	3,370
Gross increases—tax positions in prior period		—			1,464
Gross decreases—tax positions in prior period		(456	)		—
Gross increases—current-period tax positions		610			1,336
Lapse of statute of limitations		(613	)		(1,443	)
Gross unrecognized tax benefits—end of year	$	4,268		$	4,727