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RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
9 Months Ended
Oct. 01, 2016
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS  
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

4.    The Company implemented ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes, which changes how deferred taxes are classified on organizations’ balance sheets.  The change has been applied for all periods presented.  The effect of implementation is to report a consolidated non-current net asset of $3,329,000 and $3,149,000 in the condensed consolidated balance sheets as of October 1, 2016 and January 2, 2016, respectively.

 

There are no other significant prospective accounting pronouncements that are expected to have a material effect on the Company’s consolidated financial statements.