Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 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 (in thousands):



	Balance at December 30, 2017 (as reported)		Adjustments due to ASC 606			Balance at December 30, 2017 (as adjusted)
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 (in thousands)



	Three Months Ended June 30, 2018
	As Reported		Balances without ASC 606		Effect of Change
Net sales	$	668,128	$	667,697	$	431
Cost of sales	417,369		417,452		(83		)
Provision for income taxes	26,576		26,482		94
Net earnings	$	83,988	$	83,567	$	421

Basic earnings per share	$	1.51	$	1.50
Diluted earnings per share	$	1.51	$	1.50



	Six Months Ended June 30, 2018
	As Reported		Balances without ASC 606		Effect of Change
Net sales	$	1,252,928	$	1,238,355	$	14,573
Cost of sales	790,536		780,138		10,398
Provision for income taxes	47,857		46,792		1,065
Net earnings	$	149,408	$	146,298	$	3,110

Basic earnings per share	$	2.69	$	2.63
Diluted earnings per share	$	2.69	$	2.63



	Balance as of June 30, 2018
	As Reported		Balances without ASC 606		Effect of Change
Assets
Inventories, net	$	493,667	$	487,910	$	5,757
Prepaid expenses and other	48,890		51,927		(3,037		)

Liabilities
Accrued expenses	361,501		365,744		(4,243		)
Long-term deferred tax liability	102,636		102,246		390

Equity
Retained earnings	$	1,841,489	$	1,840,356	$	1,133

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

We disaggregate our net sales by reportable operating 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 June 30, 2018
United States and Canada	$	289,523	$	59,306	$	103,420	$	452,249
Asia	37,959		11,723		2,060		51,742
Europe and Middle East	75,352		16,803		53,819		145,974
Latin America	11,283		5,817		1,063		18,163
Total	$	414,117	$	93,649	$	160,362	$	668,128

Six Months Ended June 30, 2018
United States and Canada	$	544,636	$	126,241	$	181,980	$	852,857
Asia	66,991		17,435		3,579		88,005
Europe and Middle East	141,963		25,535		108,874		276,372
Latin America	20,431		13,010		2,253		35,694
Total	$	774,021	$	182,221	$	296,686	$	1,252,928

Three Months Ended July 1, 2017
United States and Canada	$	239,159	$	67,931	$	92,355	$	399,445
Asia	33,593		5,976		1,999		41,568
Europe and Middle East	50,802		9,371		56,813		116,986
Latin America	10,199		9,090		2,055		21,344
Total	$	333,753	$	92,368	$	153,222	$	579,343

Six Months Ended July 1, 2017
United States and Canada	$	463,781	$	127,676	$	173,193	$	764,650
Asia	65,843		10,399		4,537		80,779
Europe and Middle East	97,295		16,489		113,160		226,944
Latin America	19,083		15,080		3,104		37,267
Total	$	646,002	$	169,644	$	293,994	$	1,109,640

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

The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands):



	Jun 30, 2018		At Adoption
Contract assets	$	7,846	$	16,753
Contract liabilities	69,746		47,647