Employee Retirement Plans (Tables)

12 Months Ended

Jan. 03, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures

A summary of the plans’ net periodic pension cost, benefit obligations, funded status, and net balance sheet position is as follows (dollars in thousands):

Fiscal Year 2014

	Elgin Plan			Smithville Plan			Wrexham Plan			Chairman Plan
Net Periodic Pension Cost:
Service cost	$	—		$	—		$	—		$	447
Interest cost	183			690			639			416
Expected return on assets	(215		)	(584		)	(996		)	—
Amortization of net loss (gain)	64			303			—			(413		)
Pension settlement	—			—			—			—
	$	32		$	409		$	(357	)	$	450
Change in Benefit Obligation:
Benefit obligation – beginning of year	$	4,134		$	14,799		$	15,745		$	8,815
Service cost	—			—			—			447
Interest on benefit obligations	183			690			639			416
Actuarial loss	654			3,780			1,273			859
Pension settlement	—			—			—			—
Net benefit payments	(222		)	(648		)	(634		)	—
Exchange effect	—			—			(909		)	—
Benefit obligation – end of year	$	4,749		$	18,621		$	16,114		$	10,537
Change in Plan Assets:
Plan assets at fair value – beginning of year	$	3,722		$	9,602		$	15,172		$	—
Company contributions	—			913			511			—
Investment gain	51			157			1,133			—
Benefit payments and plan expenses	(222		)	(648		)	(634		)	—
Exchange effect	—			—			(876		)	—
Plan assets at fair value – end of year	$	3,551		$	10,024		$	15,306		$	—
Funded Status:
Unfunded benefit obligation	$	(1,198	)	$	(8,597	)	$	(808	)	$	(10,537	)
Amounts recognized in balance sheet at year end:
Other non-current liabilities	$	(1,198	)	$	(8,597	)	$	(808	)	$	(10,537	)
Pre-tax components in accumulated other comprehensive income:
Net actuarial loss (gain)	$	1,673		$	8,029		$	2,188		$	(1,672	)
Net prior service cost	—			—			—			—
Net transaction (asset) obligations	—			—			—			—
Total amount recognized	$	1,673		$	8,029		$	2,188		$	(1,672	)
Accumulated Benefit Obligation	$	4,749		$	18,621		$	16,114		$	7,197
Salary growth rate	n/a			n/a			n/a			10.0		%
Assumed discount rate	3.8		%	3.8		%	3.6		%	3.8		%
Expected return on assets	6.0		%	6.0		%	6.3		%	n/a

Fiscal Year 2013

	Elgin Plan			Smithville Plan			Wrexham Plan			Chairman Plan
Net Periodic Pension Cost:
Service cost	$	—		$	—		$	—		$	929
Interest cost	175			643			635			360
Expected return on assets	(209		)	(529		)	(819		)	—
Amortization of net loss (gain)	154			519			—			(145		)
Pension settlement	—			—			—			—
	$	120		$	633		$	(184	)	$	1,144
Change in Benefit Obligation:
Benefit obligation – beginning of year	$	4,862		$	16,070		$	15,462		$	8,993
Service cost	—			—			—			929
Interest on benefit obligations	175			643			635			360
Actuarial (gain)	(675		)	(1,282		)	(7		)	(1,467		)
Pension settlement	—			—			—			—
Net benefit payments	(228		)	(632		)	(716		)	—
Exchange effect	—			—			371			—
Benefit obligation – end of year	$	4,134		$	14,799		$	15,745		$	8,815
Change in Plan Assets:
Plan assets at fair value – beginning of year	$	3,503		$	8,781		$	12,997		$	—
Company contributions	128			649			526			—
Investment gain	319			804			2,054			—
Benefit payments and plan expenses	(228		)	(632		)	(716		)	—
Exchange effect	—			—			311			—
Plan assets at fair value – end of year	$	3,722		$	9,602		$	15,172		$	—
Funded Status:
Unfunded benefit obligation	$	(412	)	$	(5,197	)	$	(573	)	$	(8,815	)
Amounts recognized in balance sheet at year end:
Other non-current liabilities	$	(412	)	$	(5,197	)	$	(573	)	$	(8,815	)
Pre-tax components in accumulated other comprehensive income:
Net actuarial loss (gain)	$	918		$	4,125		$	1,116		$	(2,944	)
Net prior service cost	—			—			—			—
Net transaction (asset) obligations	—			—			—			—
Total amount recognized	$	918		$	4,125		$	1,116		$	(2,944	)
Accumulated Benefit Obligation	$	4,134		$	14,799		$	15,745		$	5,473
Salary growth rate	n/a			n/a			n/a			10.0		%
Assumed discount rate	4.7		%	4.7		%	4.4		%	4.7		%
Expected return on assets	6.0		%	6.0		%	7.0		%	n/a

Schedule of Allocation of Plan Assets

The assets of the plans were invested in the following classes of securities (none of which were securities of the company):

Elgin Plan

	Target Allocation		Percentage of Plan Assets
			2014		2013
Equity	48	%	48	%	56	%
Fixed income	40		36		32
Money market	4		4		2
Other (real estate investment trusts & commodities contracts)	8		12		10
	100	%	100	%	100	%

Smithville Plan

	Target Allocation		Percentage of Plan Assets
			2014		2013
Equity	48	%	48	%	54	%
Fixed income	40		36		32
Money market	4		4		4
Other (real estate investment trusts & commodities contracts)	8		12		10
	100	%	100	%	100	%

Wrexham Plan

	Target Allocation		Percentage of Plan Assets
			2014		2013
Equity	50	%	72	%	76	%
Fixed income	50		24		23
Money market	—		4		1
Other (real estate investment trusts & commodities contracts)	—		—		—
	100	%	100	%	100	%

Pension Plans Fair Value Of Investments

The following tables summarize the basis used to measure the pension plans’ assets at fair value as of January 3, 2015 (in thousands):

Elgin Plan

Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Short Term Investment Fund (a)	$	121	$	—	$	121	$	—
Equity Securities:
Large Cap	813		813		—		—
Mid Cap	100		100		—		—
Small Cap	100		100		—		—
International	686		686		—		—
Fixed Income:
Government/Corporate	1,074		1,074		—		—
High Yield	216		216		—		—
Alternative:
Global Real Estate Investment Trust	314		314		—		—
Commodities Contracts	127		127		—		—
Total	$	3,551	$	3,430	$	121	$	—

(a) Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Smithville Plan

Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Short Term Investment Fund (a)	$	446	$	—	$	446	$	—
Equity Securities:
Large Cap	2,297		2,297		—		—
Mid Cap	268		268		—		—
Small Cap	281		281		—		—
International	1,923		1,923		—		—
Fixed Income:
Government/Corporate	3,058		3,058		—		—
High Yield	599		599		—		—
Alternative:
Global Real Estate Investment Trust	830		830		—		—
Commodities Contracts	322		322		—		—
Total	$	10,024	$	9,578	$	446	$	—

(a) Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Wrexham Plan

Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Short Term Investment Fund (a)	$	667	$	—	$	667	$	—
Equity Securities:
UK	5,109		5,109		—		—
International
Developed	4,827		4,827		—		—
Emerging	487		487		—		—
Global	602		602		—		—
Fixed Income:
Government/Corporate	2,113		2,113		—		—
Aggregate	358		358		—		—
Index Linked	1,143		1,143		—		—
Total	$	15,306	$	14,639	$	667	$	—

(a) Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Schedule of Expected Benefit Payments

Estimated future benefit payments under the plans are as follows (dollars in thousands):

	Elgin Plan		Smithville Plan		Wrexham Plan		Chairman Plan
2015	$	282	$	674	$	623	$	—
2016	280		693		662		—
2017	278		707		701		—
2018	278		726		740		733
2019 through 2024	1,628		4,837		5,300		4,399