New Accounting Pronouncements	6 Months Ended
Jul. 03, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS ASU 2016-12 In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients. The amendments in this update do not change the core principle of the guidance in ASU 2014-09. Rather, the amendments in this update affect only certain narrow aspects of ASU 2014-09. The effective date and transition requirements for the amendments in this ASU are the same as the effective date and transition requirements in ASU 2014-09, Revenue from Contracts with Customers (and any other topic amended by that update). We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. ASU 2016-10 In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing. This ASU addresses certain implementation issues that have surfaced since the issuance of ASU No. 2014-09 in May 2014. The ASU provides guidance in identifying performance obligations and determining the appropriate accounting for licensing arrangements. The effective date and transition requirements for the amendments in this ASU are the same as the effective date and transition requirements in ASU 2014-09 (and any other topic amended by that update). We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. ASU 2016-09 In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. The amendment simplifies several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendment is effective for fiscal years beginning after December 15, 2016 with early application permitted, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2017. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. ASU 2016-02 In February 2016, the FASB issued ASU No. 2016-02, Leases. The amendment improves transparency and comparability among companies by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. The amendment is effective for fiscal years beginning after December 15, 2018 with early application permitted, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2019. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. ASU 2015-17 In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, which requires presentation of deferred tax assets and liabilities as noncurrent in a classified balance sheet. Early application is permitted for periods beginning after December 15, 2015, including interim reporting periods within that reporting period. The amendments in this update may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We early-adopted the ASU on a prospective basis as of January 1, 2016 and the statement of financial position as of July 3, 2016 reflects the revised classification of current deferred tax assets and liabilities as noncurrent. Adoption of the ASU resulted in an immaterial reclassification between current deferred tax assets and liabilities and non-current deferred tax assets and liabilities. There was no impact on balances in prior periods. There is no other impact on our consolidated financial statements for early-adopting the ASU. ASU 2015-16 In September 2015, the FASB issued ASU No. 2015-16, Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments. The amendment requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. It also requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. It eliminates the requirement to retrospectively account for those adjustments. We adopted the ASU on January 1, 2016 however there was no significant impact on our current and previously issued consolidated financial statements. ASU 2015-11 In July 2015, the FASB issued ASU No. 2015-11, Inventory: Simplifying the Measurement of Inventory. An entity using an inventory method other than last-in, first out (“LIFO”) or the retail inventory method should measure inventory at the lower of cost and net realizable value. The new guidance clarifies that net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Early application is permitted for periods beginning after December 15, 2016, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2017. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. ASU 2014-09 In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date. Early application is permitted for periods beginning after December 15, 2016, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.

NEW ACCOUNTING PRONOUNCEMENTS

ASU 2016-12

In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients. The amendments in this update do not change the core principle of the guidance in ASU 2014-09. Rather, the amendments in this update affect only certain narrow aspects of ASU 2014-09. The effective date and transition requirements for the amendments in this ASU are the same as the effective date and transition requirements in ASU 2014-09, Revenue from Contracts with Customers (and any other topic amended by that update). We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures.

ASU 2016-10

In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing. This ASU addresses certain implementation issues that have surfaced since the issuance of ASU No. 2014-09 in May 2014. The ASU provides guidance in identifying performance obligations and determining the appropriate accounting for licensing arrangements. The effective date and transition requirements for the amendments in this ASU are the same as the effective date and transition requirements in ASU 2014-09 (and any other topic amended by that update). We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures.

ASU 2016-09

In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. The amendment simplifies several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendment is effective for fiscal years beginning after December 15, 2016 with early application permitted, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2017. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures.

ASU 2016-02

In February 2016, the FASB issued ASU No. 2016-02, Leases. The amendment improves transparency and comparability among companies by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. The amendment is effective for fiscal years beginning after December 15, 2018 with early application permitted, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2019. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures.

ASU 2015-17

In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, which requires presentation of deferred tax assets and liabilities as noncurrent in a classified balance sheet. Early application is permitted for periods beginning after December 15, 2015, including interim reporting periods within that reporting period. The amendments in this update may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We early-adopted the ASU on a prospective basis as of January 1, 2016 and the statement of financial position as of July 3, 2016 reflects the revised classification of current deferred tax assets and liabilities as noncurrent. Adoption of the ASU resulted in an immaterial reclassification between current deferred tax assets and liabilities and non-current deferred tax assets and liabilities. There was no impact on balances in prior periods. There is no other impact on our consolidated financial statements for early-adopting the ASU.

ASU 2015-16

In September 2015, the FASB issued ASU No. 2015-16, Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments. The amendment requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. It also requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. It eliminates the requirement to retrospectively account for those adjustments. We adopted the ASU on January 1, 2016 however there was no significant impact on our current and previously issued consolidated financial statements.

ASU 2015-11

In July 2015, the FASB issued ASU No. 2015-11, Inventory: Simplifying the Measurement of Inventory. An entity using an inventory method other than last-in, first out (“LIFO”) or the retail inventory method should measure inventory at the lower of cost and net realizable value. The new guidance clarifies that net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Early application is permitted for periods beginning after December 15, 2016, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2017. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures.

ASU 2014-09

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date. Early application is permitted for periods beginning after December 15, 2016, including interim reporting periods within that reporting period, and the new standard will become effective for us on January 1, 2018. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect that this standard will have on our consolidated financial statements and related disclosures. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting.