lfus20170401

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

. Acquisitions

The Company accounts for acquisitions using the acquisition method in accordance with ASC

805,

“Business Combinations,” in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition. The operating results of the acquired business are included in the Company’s consolidated financial statements from the date of the acquisition.

Monolith

December

2015,

the Company invested

$3.5

million in the preferred stock of Monolith Semiconductor Inc. (“Monolith”), a U.S. start-up company developing silicon carbide technology, which represented approximately

12%

of the common stock of Monolith on an as-converted basis. The Company accounted for its investment in Monolith under the cost method with any changes in value recorded in other comprehensive income. The value of the Monolith investment was

$3.5

million at

December

31,

2016.

February

28,

2017,

pursuant to a Securities Purchase Agreement between the Company and the stockholders of Monolith and conditioned on Monolith achieving a product development milestone and other provisions, the Company acquired approximately

62%

of the outstanding common stock of Monolith for

$15

million. The Securities Purchase Agreement includes provisions whereby the Company will acquire the remaining outstanding stock of Monolith (“non-controlling interest”) at a time or times based on Monolith meeting certain technical and sales targets. Consideration for the additional investment(s) will range from

$1.0

million to

$10

million and will be paid no later than

June

30,

2019.

$3.5

million. As the fair value of the investment immediately prior to the transaction equaled the carrying value, there was no impact on the Company’s consolidated statement of net income. As the Securities Purchase Agreement includes an obligation of the Company to mandatorily redeem the non-controlling interest for cash, the fair value of the non-controlling interest was recognized as a liability on the Company’s consolidated balance sheet.

Commencing

March

2017,

Monolith was reflected as a consolidated subsidiary within the Company’s consolidated financial statements. Had the acquisition occurred as of

January

2017,

the impact on the Company’s consolidated results of operations would not have been material.

The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the Monolith acquisition:

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Original investment	$	3,500
Cash, net of cash acquired		14,172
Fair value of commitment to purchase non-controlling interest		9,000
Total purchase consideration	$	26,672
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	891
Property, plant, and equipment		789
Patented and unpatented technologies		6,720
Non-compete agreement		140
Goodwill		20,641
Current liabilities		(639	)
Other non-current liabilities		(1,870	)
	$	26,672

ON Portfolio

August

29,

2016,

the Company acquired certain assets of select businesses (the “ON Portfolio”) of ON Semiconductor Corporation for

$104.0

million. The Company funded the acquisition with available cash and proceeds from its credit facility

. The acquired business, which is included in the Electronics segment,

consists of a product portfolio that includes transient voltage suppression (“TVS”) diodes, switching thyristors and insulated gate bipolar transistors (“IGBTs”) for automotive ignition applications. The acquisition expands the Company’s offerings in power semiconductor applications as well as increases its presence in the automotive electronics market. The ON Portfolio products have strong synergies with the Company’s existing circuit protection business and will strengthen its channel partnerships and customer engagement.

The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the ON Portfolio acquisition:

(in thousands)	Purcha se Price Allocation
Total purchase consideration:
Cash	$	104,000
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	4,816
Customer relationships		31,800
Patented and unpatented technologies		8,800
Non-compete agreement		2,500
Goodwill		56,084
	$	104,000

13.5

years. The patented and unpatented technologies are being amortized over

8.5

years. The non-compete agreement is being amortized over

years. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining the ON Portfolio products with the Company’s existing

power semiconductor product portfolio.

$7.3

million of goodwill for the above acquisition is expected to be deductible for tax purposes.

As required by purchase accounting rules, the Company recorded a

$0.7

million step-up of inventory to its fair value as of the acquisition date based on the preliminary valuation. All of the step-up was amortized as a non-cash charge to cost of goods sold during

2016,

as the acquired inventory was sold, and reflected as other non-segment costs.

Menber’s

April

2016,

the Company completed the acquisition of Menber’s S.p.A. (“Menber’s”) headquartered in Legnago, Italy for

$19.2

million, net of acquired cash and after settlement of a working capital adjustment. The Company funded the acquisition with cash on hand and borrowings under the Company’s revolving credit facility. The acquired business is part of the Company's commercial vehicle product business within the Automotive segment and specializes in the design, manufacturing, and selling of manual and electrical high current switches and trailer connectors for commercial vehicles. The acquisition expands the Company’s commercial vehicle products business globally.

The following table summarizes the preliminary purchase price allocation of the fair value of assets acquired and liabilities assumed in the Menber’s acquisition:

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash, net of acquired cash	$	19,162
Preliminary allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	12,919
Property, plant, and equipment		1,693
Customer relationships		3,050
Patented and unpatented technologies		224
Trademarks and tradenames		1,849
Goodwill		8,091
Current liabilities		(7,220	)
Other non-current liabilities		(1,444	)
	$	19,162

All Menber’s goodwill and other assets and liabilities were recorded in the Automotive segment and reflected in the Europe geographic area. The customer relationships are being amortized over

years. The patented and unpatented technologies are being amortized over

years. The trademarks and tradenames are being amortized over

years. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining Menber’s products with the Company’s existing automotive product portfolio. Goodwill for the above acquisition is not expected to be deductible for tax purposes.

As required by purchase accounting rules, the Company recorded a

$0.2

million step-up of inventory to its fair value as of the acquisition date based on the preliminary valuation. The step-up was amortized as a non-cash charge to cost of goods sold during

2016,

as the acquired inventory was sold, with the charge reflected as other non-segment costs.

PolySwitch

March

25,

2016,

the Company acquired

100%

of the circuit protection business (“PolySwitch”) of TE Connectivity Ltd. for

$348.3

million, net of acquired cash and after settlement of certain post-closing adjustments. At

April

2017,

$344.5

million of the

$348.3

million purchase price has been paid with the remaining consideration expected to be paid in the

second

quarter of

2017.

The Company funded the acquisition with available cash on hand and borrowings under the Company’s revolving credit facility. The PolySwitch business, which is split between the Automotive and Electronics segments,

has a leading position in polymer based resettable circuit protection devices, with a strong global presence in the automotive, battery, industrial, communications and mobile computing markets. PolySwitch has manufacturing facilities in Shanghai and Kunshan, China and Tsukuba, Japan. The acquisition allows the Company to strengthen its global circuit protection product portfolio, as well as strengthen its presence in the automotive electronics and battery end markets. The acquisition also significantly increases the Company’s presence in Japan.

The following table summarizes the purchase price allocation of the fair value of assets acquired and liabilities assumed in the PolySwitch acquisition:

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Original consideration	$	350,000
Post closing consideration adjustment received		(1,708	)
Acquired cash		(3,810	)
Acquired cash to be returned to seller		3,810
Total purchase consideration	$	348,292
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	60,228
Property, plant, and equipment		51,613
Land lease		4,290
Patented and unpatented technologies		56,425
Customer relationships		39,720
Goodwill		165,088
Other long-term assets		11,228
Current liabilities		(35,280	)
Other non-current liabilities		(5,020	)
	$	348,292

years. The patented and unpatented technologies are being amortized over

years. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining PolySwitch products with the Company’s existing automotive and electronics product portfolio.

$103.8

million and

$61.3

million of the goodwill for the above acquisition has been assigned to the Electronics and Automotive segments, respectively, with

$64.9

million expected to be deductible for tax purposes.

As required by purchase accounting rules, the Company recorded a

$6.9

million step-up of inventory to its fair value as of the acquisition date based on the preliminary valuation. The step-up was amortized as a non-cash charge to cost of goods sold during the

second

quarter of

2016,

as the acquired inventory was sold, and reflected as other non-segment costs.

Pro Forma Results

The following table summarizes, on a pro forma basis, the combined results of operations of the Company and the acquired PolySwitch and the ON Portfolio businesses for the

three

months ended

April

2016

as though the acquisitions had occurred as of

January

2016.

The Company has not included pro forma results of operations for Menber’s or Monolith as these results were not material to the Company. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the PolySwitch or ON Portfolio acquisitions occurred as of

January

2016

or of future consolidated operating results.

(in thousands)	Three Months Ended April 2, 2016
Net sales	$	268,775
Income before income taxes		34,081
Net income		27,508
Net income — basic		1.23
Net income — diluted		1.22

first

quarter of

2016.

Pro forma adjustments described above have been tax affected using the Company's effective rate during the respective periods.

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Note 3 - Inventories

3 Months Ended

Apr. 01, 2017

Inventory Disclosure [Text Block]

. Inventories

The components of inventories at

April

2017

and

December

31,

2016

are as follows:

(in thousands)	April 1, 2017		December 31, 2 016
Raw materials	$	33,003	$	32,231
Work in process		24,200		23,354
Finished goods		61,108		58,478
Total	$	118,311	$	114,063

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Note 4 - Debt

3 Months Ended

Apr. 01, 2017

Debt Disclosure [Text Block]

. Debt

The carrying amounts of debt at

April

2017

and

December

31,

2016

are as follows:

(in thousands )	April 1, 2017			December 31, 2016
Revolving credit facility	$	—		$	112,500
Term loan		118,750			120,313
Entrusted loan		2,903			3,522
Euro Senior Notes, Series A due 2023		125,616			122,313
Euro Senior Notes, Series B due 2028		101,996			99,314
USD Senior Notes, Series A due 2022		25,000			—
USD Senior Notes, Series B due 2027		100,000			—
Unamortized debt issuance costs		(3,742	)		(3,820	)
Total debt		470,523			454,142
Less: Current maturities		(6,250	)		(6,250	)
Total long-term debt	$	464,273		$	447,892

Revolving Credit Facility / Term Loan

March

2016,

the Company entered into a new

five

year credit agreement with a group of lenders for up to

$700.0

million. The new credit agreement consists of an unsecured revolving credit facility of

$575.0

million and an unsecured term loan credit facility of up to

$125.0

million. In addition, the Company has the ability, from time to time, to increase the size of the revolving credit facility and the term loan facility by up to an additional

$150.0

million, in the aggregate, in each case in minimum increments of

$25.0

million, subject to certain conditions and the agreement of participating lenders. For the term loan credit facility, the Company is required to make quarterly principal payments of

$1.6

million through

March

31,

2018

and

$3.1

million from

June

30,

2018

through

December

31,

2020

with the remaining balance due on

March

2021.

Outstanding borrowings under the credit agreement bear interest, at the Company’s option, at either LIBOR, fixed for interest periods of

one,

two,

three

six

month periods, plus

1.00%

2.00%,

or at the bank’s Base Rate, as defined, plus

0.00%

1.00%,

based upon the Company’s Consolidated Leverage Ratio, as defined. The Company is also required to pay commitment fees on unused portions of the credit agreement ranging from

0.15%

0.30%,

based on the Consolidated Leverage Ratio, as defined. The credit agreement includes representations, covenants and events of default that are customary for financing transactions of this nature. The effective interest rate on outstanding borrowings under the credit facility was

2.48%

April

2017.

As of

April

2017,

the Company had

$0.1

million outstanding in letters of credit and had available

$574.9

million of borrowing capacity under the revolving credit facility. At

April

2017,

the Company was in compliance with all covenants under the credit agreement.

Senior Notes

December

2016,

the Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold

€212

million aggregate principal amount of senior notes in

two

series. The funding date for the Euro denominated senior notes occurred on

December

2016

for

€117

million in aggregate amount of

1.14%

Senior Notes, Series A, due

December

2023,

and

€95

million in aggregate amount of

1.83%

Senior Notes, Series B due

December

2028

(together, the “Euro Senior Notes”). Interest on the Euro Senior Notes is payable semiannually on

June

and

December

commencing

June

2017.

December

2016,

the Company entered into a Note Purchase Agreement, pursuant to which the Company issued and sold

$125

million aggregate principal amount of senior notes in

two

series. On

February

15,

2017,

$25

million in aggregate principal amount of

3.03%

Senior Notes, Series A, due

February

15,

2022,

and

$100

million in aggregate principal amount of

3.74%

Senior Notes, Series B, due

February

15,

2027

(together, the “U.S. Senior Notes,” and together with the Euro Senior Notes, the “Senior Notes”) were funded. Interest on the U.S. Senior Notes will be payable semiannually on

February

and

August

15,

commencing

August

15,

2017.

April

2017,

the Company was in compliance with all covenants under the revolving credit facility and the Senior Notes.

The Company

may

redeem the Senior Notes upon the satisfaction of certain conditions and the payment of a make-whole amount to noteholders, and are required to offer to repurchase the Senior Notes at par following certain events, including a change of control.

Entrusted Loan

During

2014,

the Company entered into an entrusted loan arrangement (“Entrusted Loan”) of

Chinese renminbi

110.0

million (approximately U.S.

$17.9

million) between

two

of its China legal entities, Littelfuse Semiconductor (“Wuxi”) Company (the “lender”) and Suzhou Littelfuse OVS Ltd. (the “borrower”), utilizing Bank of America, N.A., Shanghai Branch as agent. Direct borrowing and lending between

two

commonly owned commercial entities was strictly forbidden at the time under China’s regulations requiring the use of a

third

party agent to enable loans between Chinese legal entities. As a result, the Entrusted Loan is reflected as both a long-term asset and long-term debt on the Company’s Consolidated Balance Sheets and is reflected in the investing and financing activities in its Consolidated Statements of Cash Flows. Interest expense and interest income will be recorded between the lender and borrower with no net impact on the Company’s Consolidated Statements of Income since the amounts will be offsetting. The loan interest rate per annum is

5.25%.

The Entrusted Loan is used to finance the operation and working capital needs of the borrower and matures in

November

2019.

The balance of the Entrusted Loan was

Chinese renminbi

20.0

million (approximately U.S.

$2.9

million) at

April

2017.

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Note 5 - Fair Value of Assets and Liabilities

3 Months Ended

Apr. 01, 2017

Fair Value Disclosures [Text Block]

. Fair Value of Assets and Liabilities

Level

1—Valuations

based on unadjusted quoted prices for identical assets or liabilities in active markets;

Level

2—Valuations

based upon quoted prices for

similar

instruments, prices for identical or similar instruments in markets that are not active, or model-derived valuations, all of whose significant inputs are observable, and

Level

3—

Valuations

based upon

one

or more significant unobservable inputs.

Following is a description of the valuation methodologies used for instruments measured at fair value and their classification in the valuation hierarchy.

Investments

Investments in equity securities listed on a national market or exchange are valued at the last sales price and are classified within Level

of the valuation hierarchy.

There were no changes during the quarter ended

April

2017

to the Company’s valuation techniques used to measure asset and liability fair values on a recurring basis. As of

April

2017

and

December

31,

2016,

the Company did not hold any non-financial assets or liabilities that are required to be measured at fair value on a recurring basis.

The following table presents assets measured at fair value by classification within the fair value hierarchy as of

April

2017:

	Fair Value Measurements Using
(in thousands )	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investment in Polytronics	$	11,660	$	—	$	—	$	11,660

The following table presents assets measured at fair value by classification within the fair value hierarchy as of

December

31,

2016:

	Fair Value Measurements Using
(in thousands )	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investment in Polytronics	$	10,435	$	—	$	—	$	10,435

The Company’s other financial instruments include cash and cash equivalents, short-term investments, accounts receivable and its long-term debt. Due to their short-term maturity, the carrying amounts of cash and cash equivalents, short-term investments and accounts receivable approximate their fair values. The Company’s revolving and term loan debt facilities’ fair values approximate book value at

April

2017

and

December

31,

2016,

as the rates on these borrowings are variable in nature.

The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series A and Series B and USD Senior Notes, Series A and Series B, as of

April

2017

and

December

31,

2016

are as follows:

	April 1, 2017				December 31, 2016
(in thousands )	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Euro Senior Notes, Series A due 2023	$	125,616	$	125,251	$	122,313	$	122,586
Euro Senior Notes, Series B due 2028		101,996		101,037		99,314		99,230
USD Senior Notes, Series A due 2022		25,000		24,817		—		—
USD Senior Notes, Series B due 2027		100,000		99,208		—		—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

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Note 6 - Benefit Plans

3 Months Ended

Apr. 01, 2017

Pension and Other Postretirement Benefits Disclosure [Text Block]

. Benefit Plans

The components of net periodic benefit cost for the

three

months ended

April

2017

and

April

2016

are as follows:

	For the Three Months Ended
(in thousands )	April 1, 2017			April 2, 2016
Components of net periodic benefit cost:
Service cost	$	408		$	332
Interest cost		360			497
Expected return on plan assets		(476	)		(520	)
Amortization of prior service (credit)		84			73
Total cost of the plan		376			382
Expected plan participants’ contribution		—			—
Net periodic benefit cost	$	376		$	382

The expected return on pension assets is

4.5%

and

4.9%

2017

and

2016,

respectively.

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Note 7 - Shareholders' Equity

3 Months Ended

Apr. 01, 2017

Stockholders' Equity Note Disclosure [Text Block]

Shareholders’ Equity

Accumulated Other Comprehensive Income (Loss) (“AOCI”): The following table sets forth the changes in the components of AOCI by component for the

three

months ended

April

2017:

(in thousands )	Pension and postretirement liability and reclassification adjustments (a)			Unrealized gains on investments		Foreign currency translation adjustment			Accumulated other comprehensive income (loss)
Balance at December 31, 2016	$	(11,983	)	$	10,769	$	(73,365	)	$	(74,579	)
Activity in the period		(282	)		947		4,962			5,627
Balance at April 1, 2017	$	(12,265	)	$	11,716	$	(68,403	)	$	(68,952	)

(a) The balances at

April

2017

and

December

31,

2016

are net of taxes of

$1.2

million and

$1.1

million, respectively.

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Note 8 - Income Taxes	3 Months Ended
Note 8 - Income Taxes	Apr. 01, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. Income Taxes The effective tax rate for the first quarter of 2017 was 18.0% compared to an effective tax rate of 28.8% in the first quarter of 2016. The effective tax rates for both the first quarter of 2017 and the first quarter of 2016 are lower than the U.S. statutory tax rate primarily due to income earned in lower tax jurisdictions. Further, the effective tax rate for the first quarter of 2017 was lower than the effective tax rate for the first quarter of 2016 primarily due to a larger amount of income earned in lower tax jurisdictions in the first quarter of 2017 compared to the first quarter of 2016.

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Note 9 - Earnings Per Share

3 Months Ended

Apr. 01, 2017

Earnings Per Share [Text Block]

. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	For the Three Months Ended
(in thousands, except per share amounts )	April 1, 2017		April 2, 2016
Numerator:
Net income as reported	$	38,891	$	19,289

Denominator:
Weighted average shares outstanding
Basic		22,748		22,438
Effect of dilutive securities		241		183
Diluted		22,989		22,621

Earnings Per Share:
Basic earnings per share	$	1.71	$	0.86
Diluted earnings per share	$	1.69	$	0.85

No potential shares of common stock attributable to stock options were excluded from the earnings per share calculation because their effect would be anti-dilutive for the

three

months ended

April

2017

while

21,888

shares were excluded for the

three

months ended

April

2016.

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Note 10 - Segment Information

3 Months Ended

Apr. 01, 2017

Segment Reporting Disclosure [Text Block]

. Segment Information

may

earn revenues and incur expenses, and about which separate financial information is regularly evaluated by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources. The CODM is the Company’s President and Chief Executive Officer (“CEO”). The CODM allocates resources to and assesses the performance of each operating segment using information about its revenue and operating income (loss) before interest and taxes, but does not evaluate the operating segments using discrete balance sheet information.

three

operating segments. The Company does not report inter-segment revenue because the operating segments do not record it. Certain expenses, determined by the CODM to be strategic in nature and not directly related to segments current results, are not allocated but identified as “Other”. Additionally, the Company does not allocate interest and other income, interest expense, or taxes to operating segments. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Although the CODM uses operating income (loss) to evaluate the segments, operating costs included in

one

segment

may

benefit other segments. Except as discussed above, the accounting policies for segment reporting are the same as for the Company as a whole.

●

Electronics Segment

: Provides circuit protection components for overcurrent and overvoltage protection, as well as sensor components and modules to leading global manufacturers of a wide range of electronic products. The segment covers a broad range of end markets, including consumer electronics, telecommunications equipment, medical devices, lighting products, and white goods. The Electronics segment supplies circuit protection, sensing and control products to various leading manufacturers. The Electronics segment has

one

of the broadest product offerings in the industry including fuses and protectors, positive temperature coefficient (“PTC”) resettable fuses, varistors, polymer electrostatic discharge (“ESD”) suppressors, discrete TVS diodes, TVS diode arrays protection and switching thyristors, gas discharge tubes, power switching components, fuseholders, reed switch and sensor assemblies, IGBT blocks, and related accessories.

●

Automotive

Segment

Provides circuit protection and sensor products to the worldwide automotive original equipment manufacturers (“OEM”) and parts distributors of passenger automobiles, trucks, buses, and off-road equipment. In addition, the Company supplies heavy duty power distribution modules, switches and relays to the commercial vehicle industry. The Company also sells its fuses, including blade fuses and high current fuses, battery cable protectors, and varistors, in the automotive replacement parts market. The Company also supplies wiring harness manufacturers and auto parts suppliers worldwide.

●

Industrial

Segment

Provides circuit protection products for industrial and commercial customers. Products include power fuses and other circuit protection devices, including protection and time delay relays, which are used in commercial and industrial buildings and large equipment such as HVAC systems, elevators, and machine tools. The Company also supplies industrial ground fault protection in mining and other large industrial operations.

Segment information is summarized as follows:

	For the Three Months Ended
(in thousands )	April 1, 2017			April 2, 2016
Net sales
Electronics	$	153,767		$	98,796
Automotive		107,839			91,933
Industrial		23,835			28,669
Total net sales	$	285,441		$	219,398

Depreciation and amortization
Electronics	$	8,387		$	5,372
Automotive		5,371			3,266
Industrial		1,314			1,451
Other		—			937
Total depreciation and amortization	$	15,072		$	11,026

Operating income (loss)
Electronics	$	35,206		$	22,416
Automotive		15,065			17,491
Industrial		106			1,673
Other (a)		(1,525	)		(9,152	)
Total operating income		48,852			32,428
Interest expense		3,120			2,045
Foreign exchange loss (gain)		(1,557	)		3,823
Other expense (income), net		(139	)		(517	)
Income before income taxes	$	47,428		$	27,077

(a) For the

first

quarter of

2017,

“Other” Operating income (loss) of

$1.5

million consists of acquisition and integration costs associated with the Company’s

2016

acquisitions (included in Cost of sales (“COS”) and Selling, general, and administrative expenses (“SG&A)).

For the

first

quarter of

2016,

“Other” Operating income (loss) of

$9.2

million consists of: (i)

$1.4

million of internal reorganization costs with

$1.1

million included in COS and

$0.3

million included in SG&A, (ii)

$6.2

million of acquisition related expenses included in SG&A, and (iii)

$1.6

million of impairment and severance costs related to the planned shut-down of the Company’s Roskilde, Denmark operations with

$0.2

million included in COS,

$0.9

million included in amortization of intangibles,

$0.3

million included in research and development, and

$0.2

million included in SG&A.

The Company’s net sales by country are as follows:

	For the Three Months Ended
(in thousands )	April 1, 2017		April 2, 2016
Net sales
United States	$	86,658	$	85,149
China		74,690		48,509
Other countries		124,093		85,740
Total net sales	$	285,441	$	219,398

The Company’s long-lived assets by country, as of

April

2017

and

December

31,

2016,

are as follows:

(in thousands )	April 1, 2017		December 31 , 2016
Long-lived assets
United States	$	23,770	$	23,731
China		65,073		65,345
Mexico		58,111		52,262
Philippines		32,615		33,345
Other countries		44,373		42,492
Total long-lived assets	$	223,942	$	217,175

The Company’s additions to long-lived assets by country are as follows:

	For the Three Months Ended
(in thousands )	April 1, 2017		April 2, 2016
Additions to long-lived assets
United States	$	332	$	1,618
China		2,341		1,046
Mexico		6,978		4,653
Philippines		855		1,101
Other countries		1,871		721
Total additions to long-lived assets	$	12,377	$	9,139

XML 28 R18.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Apr. 01, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The Company’s accompanying unaudited Consolidated Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information, the instructions to Form 10 -Q and Article 10 of Regulation S-X. Accordingly, certain information and disclosures normally included in the consolidated balance sheet, statements of net income and comprehensive income and cash flows prepared in conformity with U.S. GAAP have been condensed or omitted as permitted by such rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. They have been prepared in accordance with accounting policies described in the Company’s Annual Report on Form 10 -K for the year ended December 31, 2016, which should be read in conjunction with the disclosures therein. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal, recurring nature. Operating results for interim periods are not necessarily indicative of annual operating results.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill and Indefinite-Lived Intangible Assets The Company annually tests goodwill and indefinite-lived intangible assets for impairment on the first day of its fiscal fourth quarter or at other dates if there is an event or change in circumstances that indicates the asset may be impaired. Management determines the fair value of each of its reporting units by using a discounted cash flow model (which includes forecasted five -year income statement and working capital projections, a market-based weighted average cost of capital and terminal values after five years) to estimate market value. In addition, the Company compares its derived enterprise value on a consolidated basis to the Company’s market capitalization as of its test date to ensure its derived value approximates the market value of the Company when taken as a whole. Factors the Company considers important when performing the impairment tests, which could result in changes to its estimates, include underperformance relative to historical or projected future operating results and declines in acquisitions and trading multiples. Due to the diverse end user base and non-discretionary product demand, the Company does not believe its future operating results will vary significantly relative to its historical and projected future operating results. However, it is possible that impairment charges could be recognized for the relays reporting unit if there are declines in profitability or projected future operating results due to changes in volume, market pricing, cost, or the business environment. As of the most recent annual test conducted on October 2, 2016, the Company concluded the fair value of the relays reporting unit exceeded its carrying value of invested capital and therefore, no potential goodwill impairment existed. As of the 2016 annual test date, the relays reporting unit had $41.4 million of goodwill and intangible assets and the excess of fair value over the carrying value of invested capital was 15%. As of April 1, 2017, there were no events or circumstances that indicate the Relays intangible assets were impaired.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015 - 11 – “Inventory (Topic 330): Simplifying the Measurement of Inventory,” which simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. The update is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted the new standard on January 1, 2017. The adoption of the update did not have a material impact on the Company’s consolidated financial statements. As a result of the adoption of the update, inventories are stated at the lower of cost or net realizable value. Cost is principally determined using the first -in, first -out method. The Company maintains excess and obsolete allowances against inventory to reduce the carrying value to the expected net realizable value. These allowances are based upon a combination of factors including historical sales volume, market conditions, lower of cost or market analysis and expected realizable value of the inventory. In March 2016, the FASB issued ASU No. 2016 - 09 – “Improvements to Employee Share-Based Payment Accounting,” which amends ASC 718, “Compensation – Stock Compensation.” The update simplifies several aspects of the accounting for employee share-based payment transactions, including accounting for income taxes, forfeitures, and statutory withholding requirements, as well as classification in the Consolidated Statements of Cash Flows. The update is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted the new standard on January 1, 2017. As a result of the adoption, on a prospective basis, the Company recognized $0.5 million of excess tax benefits from stock-based compensation as a discrete item in income tax expense for the three months ended April 1, 2017. Historically, these amounts were recorded as additional paid-in capital. The Company also elected to apply the change prospectively to the Consolidated Statement of Cash Flows. As a result, on a prospective basis, share-based payments will be reported as operating activities in the Consolidated Statement of Cash Flows. The Company elected not to change its policy on accounting for forfeitures and will continue to estimate a requisite forfeiture rate. Additional amendments to the accounting for income taxes and minimum statutory withholding requirements had no impact on the results of operations. Recently Issued Accounting Standards In May 2014, the FASB issued ASU No. 2014 - 09, “Revenue from Contracts with Customers” (Topic 606) which supersedes the revenue recognition requirements in ASC 605, “Revenue Recognition.” This ASU provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. In August, 2015, the FASB issued ASU No. 2015 - 14, which postponed the effective date of ASU No. 2014 - 09 to fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted on the original effective date of fiscal years beginning after December 15, 2016. The Company is in the process of performing its initial assessment of the potential impact on its consolidated financial statements and has not concluded on its adoption methodology. While the Company is currently assessing the impact of the new standards, the Company’s revenue is primarily generated from the sale of finished products to customers. Those sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risks, and rewards transfer. These are largely un-affected by the new standard. The Company does not expect this new guidance to have a material impact on the amount of overall sales recognized; however, the timing of sales on certain projects may be affected. The Company has not yet quantified this potential impact. In February 2016, the FASB issued ASU No. 2016 - 02, "Leases" (Topic 842). This ASU requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve months. The accounting by lessors will remain largely unchanged. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. Adoption will require a modified retrospective transition. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017 - 04, “Intangibles-Goodwill and Other” (Topic 350). This ASU modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. An entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Because the update will eliminate Step 2 from the goodwill impairment test, it should reduce the cost and complexity of evaluating goodwill for impairment. This ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2020, with early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company expects to adopt the new standard in 2017.

XML 29 R19.htm IDEA: XBRL DOCUMENT

Note 2 - Acquisitions (Tables)

3 Months Ended

Apr. 01, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Original investment	$	3,500
Cash, net of cash acquired		14,172
Fair value of commitment to purchase non-controlling interest		9,000
Total purchase consideration	$	26,672
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	891
Property, plant, and equipment		789
Patented and unpatented technologies		6,720
Non-compete agreement		140
Goodwill		20,641
Current liabilities		(639	)
Other non-current liabilities		(1,870	)
	$	26,672

(in thousands)	Purcha se Price Allocation
Total purchase consideration:
Cash	$	104,000
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	4,816
Customer relationships		31,800
Patented and unpatented technologies		8,800
Non-compete agreement		2,500
Goodwill		56,084
	$	104,000

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash, net of acquired cash	$	19,162
Preliminary allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	12,919
Property, plant, and equipment		1,693
Customer relationships		3,050
Patented and unpatented technologies		224
Trademarks and tradenames		1,849
Goodwill		8,091
Current liabilities		(7,220	)
Other non-current liabilities		(1,444	)
	$	19,162

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Original consideration	$	350,000
Post closing consideration adjustment received		(1,708	)
Acquired cash		(3,810	)
Acquired cash to be returned to seller		3,810
Total purchase consideration	$	348,292
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	60,228
Property, plant, and equipment		51,613
Land lease		4,290
Patented and unpatented technologies		56,425
Customer relationships		39,720
Goodwill		165,088
Other long-term assets		11,228
Current liabilities		(35,280	)
Other non-current liabilities		(5,020	)
	$	348,292

Business Acquisition, Pro Forma Information [Table Text Block]

(in thousands)	Three Months Ended April 2, 2016
Net sales	$	268,775
Income before income taxes		34,081
Net income		27,508
Net income — basic		1.23
Net income — diluted		1.22

XML 30 R20.htm IDEA: XBRL DOCUMENT

Note 3 - Inventories (Tables)

3 Months Ended

Apr. 01, 2017

Schedule of Inventory, Current [Table Text Block]

(in thousands)	April 1, 2017		December 31, 2 016
Raw materials	$	33,003	$	32,231
Work in process		24,200		23,354
Finished goods		61,108		58,478
Total	$	118,311	$	114,063

XML 31 R21.htm IDEA: XBRL DOCUMENT

Note 4 - Debt (Tables)

3 Months Ended

Apr. 01, 2017

Schedule of Long-term Debt Instruments [Table Text Block]

(in thousands )	April 1, 2017			December 31, 2016
Revolving credit facility	$	—		$	112,500
Term loan		118,750			120,313
Entrusted loan		2,903			3,522
Euro Senior Notes, Series A due 2023		125,616			122,313
Euro Senior Notes, Series B due 2028		101,996			99,314
USD Senior Notes, Series A due 2022		25,000			—
USD Senior Notes, Series B due 2027		100,000			—
Unamortized debt issuance costs		(3,742	)		(3,820	)
Total debt		470,523			454,142
Less: Current maturities		(6,250	)		(6,250	)
Total long-term debt	$	464,273		$	447,892

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

XML 32 R22.htm IDEA: XBRL DOCUMENT

Note 5 - Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Apr. 01, 2017

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

	Fair Value Measurements Using
(in thousands )	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investment in Polytronics	$	11,660	$	—	$	—	$	11,660

	Fair Value Measurements Using
(in thousands )	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Investment in Polytronics	$	10,435	$	—	$	—	$	10,435

Fair Value, by Balance Sheet Grouping [Table Text Block]

	April 1, 2017				December 31, 2016
(in thousands )	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Euro Senior Notes, Series A due 2023	$	125,616	$	125,251	$	122,313	$	122,586
Euro Senior Notes, Series B due 2028		101,996		101,037		99,314		99,230
USD Senior Notes, Series A due 2022		25,000		24,817		—		—
USD Senior Notes, Series B due 2027		100,000		99,208		—		—

XML 33 R23.htm IDEA: XBRL DOCUMENT

Note 6 - Benefit Plans (Tables)

3 Months Ended

Apr. 01, 2017

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

	For the Three Months Ended
(in thousands )	April 1, 2017			April 2, 2016
Components of net periodic benefit cost:
Service cost	$	408		$	332
Interest cost		360			497
Expected return on plan assets		(476	)		(520	)
Amortization of prior service (credit)		84			73
Total cost of the plan		376			382
Expected plan participants’ contribution		—			—
Net periodic benefit cost	$	376		$	382

XML 34 R24.htm IDEA: XBRL DOCUMENT

Note 7 - Shareholders' Equity (Tables)

3 Months Ended

Apr. 01, 2017

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(in thousands )	Pension and postretirement liability and reclassification adjustments (a)			Unrealized gains on investments		Foreign currency translation adjustment			Accumulated other comprehensive income (loss)
Balance at December 31, 2016	$	(11,983	)	$	10,769	$	(73,365	)	$	(74,579	)
Activity in the period		(282	)		947		4,962			5,627
Balance at April 1, 2017	$	(12,265	)	$	11,716	$	(68,403	)	$	(68,952	)

XML 35 R25.htm IDEA: XBRL DOCUMENT

Note 9 - Earnings Per Share (Tables)

3 Months Ended

Apr. 01, 2017

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	For the Three Months Ended
(in thousands, except per share amounts )	April 1, 2017		April 2, 2016
Numerator:
Net income as reported	$	38,891	$	19,289

Denominator:
Weighted average shares outstanding
Basic		22,748		22,438
Effect of dilutive securities		241		183
Diluted		22,989		22,621

Earnings Per Share:
Basic earnings per share	$	1.71	$	0.86
Diluted earnings per share	$	1.69	$	0.85

XML 36 R26.htm IDEA: XBRL DOCUMENT

Note 10 - Segment Information (Tables)

3 Months Ended

Apr. 01, 2017

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	For the Three Months Ended
(in thousands )	April 1, 2017			April 2, 2016
Net sales
Electronics	$	153,767		$	98,796
Automotive		107,839			91,933
Industrial		23,835			28,669
Total net sales	$	285,441		$	219,398

Depreciation and amortization
Electronics	$	8,387		$	5,372
Automotive		5,371			3,266
Industrial		1,314			1,451
Other		—			937
Total depreciation and amortization	$	15,072		$	11,026

Operating income (loss)
Electronics	$	35,206		$	22,416
Automotive		15,065			17,491
Industrial		106			1,673
Other (a)		(1,525	)		(9,152	)
Total operating income		48,852			32,428
Interest expense		3,120			2,045
Foreign exchange loss (gain)		(1,557	)		3,823
Other expense (income), net		(139	)		(517	)
Income before income taxes	$	47,428		$	27,077

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]

	For the Three Months Ended
(in thousands )	April 1, 2017		April 2, 2016
Net sales
United States	$	86,658	$	85,149
China		74,690		48,509
Other countries		124,093		85,740
Total net sales	$	285,441	$	219,398

(in thousands )	April 1, 2017		December 31 , 2016
Long-lived assets
United States	$	23,770	$	23,731
China		65,073		65,345
Mexico		58,111		52,262
Philippines		32,615		33,345
Other countries		44,373		42,492
Total long-lived assets	$	223,942	$	217,175

	For the Three Months Ended
(in thousands )	April 1, 2017		April 2, 2016
Additions to long-lived assets
United States	$	332	$	1,618
China		2,341		1,046
Mexico		6,978		4,653
Philippines		855		1,101
Other countries		1,871		721
Total additions to long-lived assets	$	12,377	$	9,139

XML 37 R27.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Significant Accounting Policies and Other Information (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Oct. 02, 2016
Income Tax Expense (Benefit)	$ 8,537	$ 7,788
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (500)
Relay Unit [Member]
Intangible Assets, Net (Including Goodwill)			$ 41,400
Excess Of Fair Value Over Carrying Value Of Invested Capital			15.00%

XML 38 R28.htm IDEA: XBRL DOCUMENT

Note 2 - Acquisitions (Details Textual) - USD ($) $ in Thousands					9 Months Ended
	Feb. 28, 2017	Aug. 29, 2016	Apr. 04, 2016	Mar. 25, 2016	Dec. 31, 2016	Dec. 31, 2015
Electronics [Member]
Goodwill, Acquired During Period				$ 103,800
Automotive [Member]
Goodwill, Acquired During Period				$ 61,300
Monolith [Member]
Business Acquisition, Percentage of Voting Interests Acquired	62.00%
Business Combination, Consideration Transferred	$ 15,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	1,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	10,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	3,500
ON Portfolio [Member]
Business Combination, Consideration Transferred		$ 104,000
Business Acquisition, Goodwill, Expected Tax Deductible Amount		7,300
Business Acquisition Inventory Stepup		$ 700
ON Portfolio [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life		13 years 182 days
ON Portfolio [Member] \| Patented and Unpatented Technologies [Member] \| Minimum [Member]
Finite-Lived Intangible Asset, Useful Life		6 years
ON Portfolio [Member] \| Patented and Unpatented Technologies [Member] \| Maximum [Member]
Finite-Lived Intangible Asset, Useful Life		8 years 182 days
ON Portfolio [Member] \| Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life		4 years
Menber's S.p.A. [Member]
Business Combination, Consideration Transferred			$ 19,200
Business Acquisition Inventory Stepup			$ 200
Menber's S.p.A. [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			10 years
Menber's S.p.A. [Member] \| Patented and Unpatented Technologies [Member]
Finite-Lived Intangible Asset, Useful Life			5 years
Menber's S.p.A. [Member] \| Trademarks and Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life			10 years
PolySwitch [Member]
Business Acquisition, Percentage of Voting Interests Acquired				100.00%
Business Combination, Consideration Transferred	$ 348,292			$ 348,300
Business Acquisition, Goodwill, Expected Tax Deductible Amount				64,900
Business Acquisition Inventory Stepup				$ 6,900
Payments to Acquire Businesses, Gross					$ 344,500
PolySwitch [Member] \| Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life				15 years
PolySwitch [Member] \| Patented and Unpatented Technologies [Member]
Finite-Lived Intangible Asset, Useful Life				10 years
Monolith [Member]
Cost Method Investments					$ 3,500	$ 3,500
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						12.00%

XML 39 R29.htm IDEA: XBRL DOCUMENT

Note 2 - Acquisitions - Preliminary Price Allocation (Details) - USD ($) $ in Thousands				3 Months Ended		9 Months Ended
	Feb. 28, 2017	Apr. 04, 2016	Mar. 25, 2016	Apr. 01, 2017	Apr. 02, 2016	Dec. 31, 2016
Cash, net of cash acquired				$ 14,172	$ 264,098
Fair value of commitment to purchase non-controlling interest				9,000
Goodwill				$ 428,343		$ 403,544
Monolith [Member]
Original investment	$ 3,500
Cash, net of cash acquired	14,172
Fair value of commitment to purchase non-controlling interest	9,000
Total purchase consideration	26,672
Current assets, net	891
Property, plant, and equipment	789
Goodwill	20,641
Current liabilities	(639)
Other non-current liabilities	(1,870)
	26,672
Total purchase consideration	15,000
Monolith [Member] \| Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	6,720
Monolith [Member] \| Noncompete Agreements [Member]
Intangible assets, other than goodwill	140
TVS Diode, Thyristor and IGBT Business [Member]
Current assets, net	4,816
Goodwill	56,084
Cash	104,000
	104,000
TVS Diode, Thyristor and IGBT Business [Member] \| Customer Relationships [Member]
Intangible assets, other than goodwill	31,800
TVS Diode, Thyristor and IGBT Business [Member] \| Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	8,800
TVS Diode, Thyristor and IGBT Business [Member] \| Noncompete Agreements [Member]
Intangible assets, other than goodwill	2,500
Menber's S.p.A. [Member]
Cash, net of cash acquired	19,162
Current assets, net	12,919
Property, plant, and equipment	1,693
Goodwill	8,091
Current liabilities	(7,220)
	19,162
Other non-current liabilities	(1,444)
Total purchase consideration		$ 19,200
Menber's S.p.A. [Member] \| Customer Relationships [Member]
Intangible assets, other than goodwill	3,050
Menber's S.p.A. [Member] \| Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	224
Menber's S.p.A. [Member] \| Trademarks and Trade Names [Member]
Intangible assets, other than goodwill	1,849
PolySwitch [Member]
Current assets, net	60,228
Property, plant, and equipment	51,613
Goodwill	165,088
Current liabilities	(35,280)
Cash						$ 344,500
	348,292
Other non-current liabilities	(5,020)
Original consideration	350,000
Post closing consideration adjustment received	(1,708)
Acquired cash	(3,810)
Acquired cash to be returned to seller	3,810
Total purchase consideration	348,292		$ 348,300
Land lease	4,290
Other long-term assets	11,228
PolySwitch [Member] \| Customer Relationships [Member]
Intangible assets, other than goodwill	39,720
PolySwitch [Member] \| Patented and Unpatented Technologies [Member]
Intangible assets, other than goodwill	$ 56,425

XML 40 R30.htm IDEA: XBRL DOCUMENT

Note 2 - Acquisitions - Business Acquisition Pro Forma Information (Details) - PolySwitch [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 02, 2016 USD ($) $ / shares
Net sales	$ 268,775
Income before income taxes	34,081
Net income	$ 27,508
Net income — basic (in dollars per share) \| $ / shares	$ 1.23
Net income — diluted (in dollars per share) \| $ / shares	$ 1.22

XML 41 R31.htm IDEA: XBRL DOCUMENT

Note 3 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Raw materials	$ 33,003	$ 32,231
Work in process	24,200	23,354
Finished goods	61,108	58,478
Total	$ 118,311	$ 114,063

XML 42 R32.htm IDEA: XBRL DOCUMENT

Note 4 - Debt (Details Textual) $ in Thousands, € in Millions, ¥ in Millions					25 Months Ended	30 Months Ended
	Feb. 15, 2017 USD ($)	Dec. 08, 2016 USD ($)	Dec. 08, 2016 EUR (€)	Mar. 04, 2016 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2020 USD ($)	Apr. 01, 2017 USD ($)	Apr. 01, 2017 CNY (¥)	Dec. 31, 2016 USD ($)	Dec. 27, 2014 USD ($)	Dec. 27, 2014 CNY (¥)
Entrusted Loan							$ 2,903		$ 3,522
Euro Senior Notes, Series A and B [Member]
Proceeds from Notes Payable \| €			€ 212
Euro Senior Notes, Series A [Member]
Proceeds from Notes Payable \| €			€ 117
Debt Instrument, Interest Rate, Stated Percentage		1.14%	1.14%
Euro Senior Notes, Series B [Member]
Proceeds from Notes Payable \| €			€ 95
Debt Instrument, Interest Rate, Stated Percentage		1.83%	1.83%
U.S. Senior Notes, Series A and B [Member] \| Subsequent Event [Member]
Proceeds from Notes Payable		$ 125,000
U.S. Senior Notes, Series A [Member] \| Subsequent Event [Member]
Proceeds from Notes Payable	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	3.03%
U.S. Senior Notes, Series B [Member] \| Subsequent Event [Member]
Proceeds from Notes Payable	$ 100,000
Debt Instrument, Interest Rate, Stated Percentage	3.74%
Entrustment Loan Member
Debt Instrument, Interest Rate, Stated Percentage										5.25%	5.25%
Entrusted Loan							$ 2,900	¥ 20		$ 17,900	¥ 110
Credit Agreement [Member]
Line of Credit Facility, Expiration Period				5 years
Line of Credit Facility, Maximum Borrowing Capacity				$ 700,000
Line of Credit Facility, Additional Uncommitted Borrowing Capacity				150,000
Line of Credit Facility, Additional Uncommitted Borrowing Capacity, Minimum Increments				$ 25,000
Debt Instrument, Interest Rate, Effective Percentage							2.48%	2.48%
Letters of Credit Outstanding, Amount							$ 100
Credit Agreement [Member] \| Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.15%
Credit Agreement [Member] \| Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage				0.30%
Credit Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate				1.00%
Credit Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate				2.00%
Credit Agreement [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate				0.00%
Credit Agreement [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate				1.00%
Credit Agreement [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 575,000
Line of Credit Facility, Remaining Borrowing Capacity							$ 574,900
Credit Agreement [Member] \| Term Loan Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 125,000
Credit Agreement [Member] \| Term Loan Credit Facility [Member] \| Scenario, Forecast [Member]
Line of Credit Facility, Periodic Payment, Principal					$ 1,600	$ 3,100

XML 43 R33.htm IDEA: XBRL DOCUMENT

Note 4 - Debt - Carrying Amounts of Long-term Debt (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Revolving credit facility		$ 112,500
Term loan	118,750	120,313
Entrusted loan	2,903	3,522
Unamortized debt issuance costs	(3,742)	(3,820)
Total debt	470,523	454,142
Less: Current maturities	6,250	6,250
Total long-term debt	464,273	447,892
Euro Senior Notes, Series A [Member]
Euro Senior Notes	125,616	122,313
Euro Senior Notes, Series B [Member]
Euro Senior Notes	101,996	99,314
U.S. Senior Notes, Series A [Member]
Euro Senior Notes	25,000
U.S. Senior Notes, Series B [Member]
Euro Senior Notes	$ 100,000

XML 44 R34.htm IDEA: XBRL DOCUMENT

Note 5 - Fair Value of Assets and Liabilities - Assets Measured at Fair Value (Details) - Polytronics [Member] - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Investment in Polytronics	$ 11,660	$ 10,435
Fair Value, Inputs, Level 1 [Member]
Investment in Polytronics	$ 11,660	$ 10,435

XML 45 R35.htm IDEA: XBRL DOCUMENT

Note 5 - Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Apr. 01, 2017	Dec. 31, 2016
Euro Senior Notes, Series A [Member] \| Reported Value Measurement [Member]
Senior Notes, Fair Value	$ 125,616	$ 122,313
Euro Senior Notes, Series A [Member] \| Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	125,251	122,586
Euro Senior Notes, Series B [Member] \| Reported Value Measurement [Member]
Senior Notes, Fair Value	101,996	99,314
Euro Senior Notes, Series B [Member] \| Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	101,037	99,230
U.S. Senior Notes, Series A [Member] \| Reported Value Measurement [Member]
Senior Notes, Fair Value	25,000
U.S. Senior Notes, Series A [Member] \| Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	24,817
U.S. Senior Notes, Series B [Member] \| Reported Value Measurement [Member]
Senior Notes, Fair Value	100,000
U.S. Senior Notes, Series B [Member] \| Estimate of Fair Value Measurement [Member]
Senior Notes, Fair Value	$ 99,208

XML 46 R36.htm IDEA: XBRL DOCUMENT

Note 6 - Benefit Plans (Details Textual)	3 Months Ended
Note 6 - Benefit Plans (Details Textual)	Apr. 01, 2017	Apr. 02, 2016
Foreign Plan [Member]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	4.50%	4.90%

XML 47 R37.htm IDEA: XBRL DOCUMENT

Note 6 - Benefit Plans - Benefit Plan Related Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Service cost	$ 408	$ 332
Interest cost	360	497
Expected return on plan assets	(476)	(520)
Amortization of prior service (credit)	84	73
Total cost of the plan	376	382
Net periodic benefit cost	$ 376	$ 382

XML 48 R38.htm IDEA: XBRL DOCUMENT

Note 7 - Shareholders' Equity (Details Textual) - USD ($) $ in Millions	Apr. 01, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Pension and Other Post-retirement Benefit Plans, Liability Adjustment Tax	$ 1.2	$ 1.1

XML 49 R39.htm IDEA: XBRL DOCUMENT

Note 7 - Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details)
$ in Thousands

3 Months Ended

Apr. 01, 2017

USD ($)

$ 814,931

Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]

855,761

(11,983)

^[1]

(282)

Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]

(12,265)

^[1]

10,769

947

Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]

11,716

(73,365)

4,962

Accumulated Other-than-Temporary Impairment Including Portion Attributable to Noncontrolling Interest [Member]

(68,403)

(74,579)

5,627