Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 03, 2015

Accounting Policies [Abstract]

Schedule of Inventory, Current

Inventories at January 3, 2015 and December 28, 2013 are as follows:

	2014		2013
	(dollars in thousands)
Raw materials and parts	$	126,121	$	110,310
Work in process	17,828		20,448
Finished goods	111,827		89,358
	$	255,776	$	220,116

Property, Plant and Equipment

Property, plant and equipment are carried at cost as follows:

	2014			2013
	(dollars in thousands)
Land	$	10,642		$	10,289
Building and improvements	84,777			80,051
Furniture and fixtures	28,597			23,476
Machinery and equipment	88,679			84,970
	212,695			198,786
Less accumulated depreciation	(82,998		)	(73,329		)
	$	129,697		$	125,457

Schedule Of Useful Lives For Property Plant Equipment

Following is a summary of the estimated useful lives:

Description	Life
Building and improvements	20 to 40 years
Furniture and fixtures	3 to 7 years
Machinery and equipment	3 to 10 years

Schedule of Goodwill

Goodwill is allocated to the business segments as follows (in thousands):

	Commercial Foodservice			Food Processing			Residential Kitchen		Total
Balance as of December 29, 2012	$	397,246		$	128,765		$	—	$	526,011
Goodwill acquired during the year	50,999			—			115,762		166,761
Measurement period adjustments to goodwill acquired in prior year	(3,473		)	56			—		(3,417		)
Exchange effect	(451		)	(949		)	—		(1,400		)
Balance as of December 28, 2013	$	444,321		$	127,872		$	115,762	$	687,955
Goodwill acquired during the year	12,567			11,061			105,700		129,328
Measurement period adjustments to goodwill acquired in prior year	(1,533		)	—			1,627		94
Exchange effect	(4,465		)	(4,421		)			(8,886		)
Balance as of January 3, 2015	$	450,890		$	134,512		$	223,089	$	808,491

Schedule Of Intangible Assets By Major Class

Intangible assets consist of the following (in thousands):

	January 3, 2015						December 28, 2013
	Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization			Estimated Weighted Avg Remaining Life	Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Customer lists	4.7	$	167,278	$	(84,312	)	5.1	$	144,298	$	(61,506	)
Backlog	0.0	11,178		(11,178		)	0.0	10,851		(10,851		)
Developed technology	4.6	19,786		(16,356		)	3.9	17,888		(14,993		)
		$	198,242	$	(111,846	)		$	173,037	$	(87,350	)
Indefinite-lived assets:
Trademarks and tradenames		$	405,635					$	362,257

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The estimated future amortization expense of intangible assets is as follows (in thousands):

2015	$	21,454
2016	18,304
2017	14,032
2018	12,678
2019	4,969
Thereafter	14,959
	$	86,396

Schedule of Accrued Liabilities

Accrued expenses consist of the following at January 3, 2015 and December 28, 2013, respectively:

	2014		2013
	(dollars in thousands)
Accrued payroll and related expenses	$	50,844	$	56,544
Accrued customer rebates	32,357		26,947
Accrued warranty	28,786		20,826
Advanced customer deposits	20,367		31,276
Accrued product liability and workers compensation	14,582		15,355
Product recall	12,125		2,480
Accrued agent commission	11,207		9,767
Contingent consideration	9,200		8,628
Accrued sales and other tax	7,660		5,762
Accrued professional services	7,053		7,441
Other accrued expenses	26,404		28,433
	$	220,585	$	213,459

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the components of accumulated other comprehensive income (loss) as reported in the consolidated balance sheets:

	2014			2013
	(dollars in thousands)
Unrecognized pension benefit costs, net of tax	$	(6,540	)	$	(2,120	)
Unrealized loss on interest rate swap, net of tax	(236		)	(630		)
Currency translation adjustments	(24,655		)	(5,885		)
	$	(31,431	)	$	(8,635	)

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The company’s financial assets and liabilities that are measured at fair value are categorized using the fair value hierarchy at January 3, 2015 and December 28, 2013 are as follows (in thousands):

	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of January 3, 2015
Financial Assets:
Pension Plans	$	27,647	$	1,234	—		$	28,881
Financial Liabilities:
Interest rate swaps	—		$	810	—		$	810
Contingent consideration	—		—		$	14,558	$	14,558
As of December 28, 2013
Financial Assets:
Pension Plans	$	27,875	$	621	—		$	28,496
Financial Liabilities:
Interest rate swaps	—		$	1,471	—		$	1,471
Contingent consideration	—		—		$	9,084	$	9,084

Schedule of Product Warranty Liability

A rollforward of the warranty reserve for the fiscal years 2014 and 2013 are as follows:

	2014			2013
	(dollars in thousands)
Beginning balance	$	20,826		$	17,593
Warranty reserve related to acquisitions	2,450			9,617
Warranty expense	44,547			36,360
Warranty claims paid	(39,037		)	(42,744		)
Ending balance	$	28,786		$	20,826