Note D – Equity Interest Investments

The Company has a 50% interest in a joint venture, Stiga Sports AB (Stiga). The joint venture is accounted for under the equity method of accounting. Stiga, located in Sweden, is a global sporting goods company producing table tennis equipment, snow sleds, and game products. Financial information for Stiga reflected in the table below has been translated from local currency to U.S. dollars using exchange rates in effect at the respective period-end for balance sheet amounts, and using average exchange rates for statement of operations amounts. Certain differences exist between U.S. GAAP and local GAAP in Sweden, and the impact of these differences is not reflected in the summarized information reflected in the table below. The most significant difference relates to the accounting for goodwill for Stiga which is amortized over eight years in Sweden but is not amortized for U.S. GAAP reporting purposes. The goodwill for Stiga was fully amortized as of December 27, 2014. The effect on Stiga’s net assets resulting from the cumulative amortization of goodwill for the periods ended October 7, 2017 and October 1, 2016 are addbacks to Stiga’s consolidated financial information of $11.0 million and $10.4 million, respectively. These net differences are comprised of cumulative goodwill adjustments of $15.4 million offset by the related cumulative tax effect of $4.4 million as of October 7, 2017 and cumulative goodwill adjustments of $14.6 million offset by the related cumulative tax effect of $4.2 million as of October 1, 2016. The Company’s 50% portion of net income for Stiga, included in equity in earnings of affiliates on the Company’s statements of operations, for the three and nine month periods ended October 7, 2017 and October 1, 2016 is as follows:

	Three Months Ended				Nine Months Ended
	October 7,		October 1,		October 7,		October 1,
In thousands	2017		2016		2017		2016

Equity in earnings of affiliates	$	615	$	573	$	639	$	749

Summarized financial information for Stiga Sports AB balance sheets as of October 7, 2017, December 31, 2016, and October 1, 2016 and statements of operations for the three month and nine month periods ended October 7, 2017 and October 1, 2016 is as follows:

	October 7,		December 31,		October 1,
In thousands	2017		2016		2016

Current assets	$	33,874	$	28,322	$	28,857
Non-current assets		10,645		9,379		9,908
Total assets		44,519		37,701		38,765

Current liabilities		11,481		4,847		5,604
Non-current liabilities		5,556		5,133		5,583
Total liabilities		17,037		9,980		11,187

Net assets	$	27,482	$	27,721	$	27,578

	Three Months Ended				Nine Months Ended
	October 7,		October 1,		October 7,		October 1,
In thousands	2017		2016		2017		2016

Net sales	$	13,036	$	10,635	$	29,333	$	27,161
Gross profit		6,006		4,918		13,718		12,661
Net income		1,229		1,146		1,278		1,498