Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The cumulative effect of the changes made to our December 30, 2017 Condensed Consolidated Balance Sheet for the adoption of ASC 606 using the modified retrospective method to contracts that were not completed as of December 30, 2017 were as follows:



	Balance at December 30, 2017 (as reported)		Adjustments due to ASC 606			Balance at December 30, 2017 (as adjusted)
	(in thousands)
Balance Sheet
Assets
Accounts receivable	$	328,421	$	(122	)	$	328,299
Inventories, net	424,639		14,993			439,632
Prepaid expenses and other	55,427		(4,018		)	51,409
Long-term deferred tax assets	44,565		1,319			45,884

Liabilities & Stockholders' Equity
Accrued expenses	322,171		16,557			338,728
Retained earnings	$	1,697,618	$	(4,405	)	$	1,693,213

Effect of Adopting ASC 606 [Table Text Block]

In accordance with the requirements of ASC 606, the adoption of ASC 606 had no impact on cash provided by operating activities within the company's Condensed Consolidated Statement of Cash Flows. The impact of adoption on our Condensed Consolidated Statement of Comprehensive Income and Condensed Consolidated Balance Sheet are as follows:



	Three Months Ended March 31, 2018
	As Reported		Balances without ASC 606		Effect of Change
	(in thousands)
Net sales	$	584,800	$	570,658	$	14,142
Cost of sales	373,167		362,686		10,481
Provision for income taxes	21,281		20,310		971
Net earnings	$	65,420	$	62,731	$	2,689

Basic earnings per share	$	1.18	$	1.13
Diluted earnings per share	$	1.18	$	1.13



	Balance as of March 31, 2018
	As Reported		Balances without ASC 606		Effect of Change
	(in thousands)
Assets
Inventories, net	$	459,151	$	453,710	$	5,441
Prepaid expenses and other	48,464		51,630		(3,166		)

Liabilities
Accrued expenses	305,132		310,104		4,180
Long-term deferred tax liability	91,433		90,816		(456		)

Equity
Retained earnings	$	1,757,500	$	1,756,051	$	(1,449	)

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

We disaggregate our net sales by reportable operation segment and geographical location as we believe it best depicts how the nature, timing and uncertainty of our net sales and cash flows are affected by economic factors. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under our long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled.



	Commercial Foodservice		Food Processing		Residential Kitchen		Total
Three Months Ended March 31, 2018
United States and Canada	$	255,113	$	66,935	$	78,560	$	400,608
Asia	29,032		5,712		1,519		36,263
Europe and Middle East	66,611		8,732		55,055		130,398
Latin America	9,148		7,193		1,190		17,531
Total	$	359,904	$	88,572	$	136,324	$	584,800

Three Months Ended April 1, 2017
United States and Canada	$	224,622	$	59,745	$	80,838	$	365,205
Asia	32,250		4,423		2,538		39,211
Europe and Middle East	46,493		7,118		56,347		109,958
Latin America	8,884		5,990		1,049		15,923
Total	$	312,249	$	77,276	$	140,772	$	530,297

Contract with Customer, Asset and Liability [Table Text Block]

The following table provides information about contract assets and contract liabilities from contracts with customers:



	Mar 31, 2018		At Adoption
	(in thousands)
Contract assets	$	11,315	$	16,753
Contract liabilities	51,276		47,647