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Document And Entity Information
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9 Months Ended | |
|---|---|---|
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Sep. 29, 2012
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Nov. 01, 2012
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| Document Information [Table] | ||
| Entity Registrant Name | CARTERS INC | |
| Entity Central Index Key | 0001060822 | |
| Current Fiscal Year End Date | --12-29 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 59,033,166 | |
| Document Fiscal Year Focus | 2012 | |
| Document Fiscal Period Focus | Q3 | |
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Sep. 29, 2012 |
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Details
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other. No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of long-term deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trade name to gain or protect exclusive use thereof for a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net carrying amount as of the balance sheet date of other indefinite-lived and finite-lived intangible assets that are not separately presented on the statement of financial position. No definition available.
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- Definition
Aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed in the balance sheet. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $)
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Sep. 29, 2012
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Dec. 31, 2011
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Oct. 01, 2011
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|---|---|---|---|
| Statement of Financial Position [Abstract] | |||
| Preferred stock; par value | $ 0.01 | $ 0.01 | $ 0.01 |
| Preferred stock; shares authorized | 100,000 | 100,000 | 100,000 |
| Preferred stock; issued | 0 | 0 | 0 |
| Preferred stock; outstanding | 0 | 0 | 0 |
| Common stock, voting; par value | $ 0.01 | $ 0.01 | $ 0.01 |
| Common stock, voting; shares authorized | 150,000,000 | 150,000,000 | 150,000,000 |
| Common stock voting; shares issued | 59,035,891 | 58,595,421 | 58,529,586 |
| Common stock voting; shares outstanding | 59,035,891 | 58,595,421 | 58,529,586 |
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 29, 2012
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Oct. 01, 2011
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Sep. 29, 2012
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Oct. 01, 2011
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|
| Income Statement [Abstract] | ||||
| Net sales | $ 668,657 | $ 639,617 | $ 1,692,481 | $ 1,503,105 |
| Cost of goods sold | 398,580 | 447,504 | 1,044,422 | 1,017,864 |
| Gross profit | 270,077 | 192,113 | 648,059 | 485,241 |
| Selling, general, and administrative expenses | 185,167 | 145,842 | 491,162 | 380,912 |
| Royalty income | (10,482) | (10,494) | (26,722) | (28,092) |
| Operating income | 95,392 | 56,765 | 183,619 | 132,421 |
| Interest expense, net | 1,716 | 1,699 | 5,411 | 5,305 |
| Foreign currency gain | (249) | (88) | (150) | (319) |
| Income before income taxes | 93,925 | 55,154 | 178,358 | 127,435 |
| Provision for income taxes | 34,547 | 20,705 | 65,900 | 48,204 |
| Net income | $ 59,378 | $ 34,449 | $ 112,458 | $ 79,231 |
| Basic net income per common share (Note 13) | $ 1.01 | $ 0.59 | $ 1.91 | $ 1.37 |
| Diluted net income per common share (Note 13) | $ 0.99 | $ 0.58 | $ 1.88 | $ 1.35 |
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 29, 2012
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Oct. 01, 2011
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Sep. 29, 2012
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Oct. 01, 2011
|
|
| Net income | $ 59,378 | $ 34,449 | $ 112,458 | $ 79,231 |
| Other comprehensive income: | ||||
| Cumulative foreign currency translation adjustments | 2,293 | (4,922) | 2,148 | (5,021) |
| Comprehensive income | $ 61,671 | $ 29,527 | $ 114,606 | $ 74,210 |
| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Pre tax adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains (losses). Includes gain (loss) on foreign currency forward exchange contracts. Includes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. Includes the gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) (USD $)
In Thousands |
Total
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Common Stock [Member]
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Additional Paid-in Capital [Member]
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Accumulated Other Comprehensive Income (Loss) [Member]
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Retained Earnings [Member]
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|---|---|---|---|---|---|
| Balance at Dec. 31, 2011 | $ 805,709 | $ 586 | $ 231,738 | $ (11,282) | $ 584,667 |
| Exercise of stock options | 3,650 | 2 | 3,648 | 0 | 0 |
| Issuance of common stock | 1,080 | 0 | 1,080 | 0 | 0 |
| Withholdings from vesting of restricted stock | (2,794) | (1) | (2,793) | 0 | 0 |
| Income tax benefit from stock-based compensation | 2,387 | 0 | 2,387 | 0 | 0 |
| Restricted stock activity | 0 | 3 | (3) | 0 | 0 |
| Stock-based compensation expense | 8,804 | 0 | 8,804 | 0 | 0 |
| Net income | 112,458 | 0 | 0 | 0 | 112,458 |
| Cumulative foreign currency translation adjustments | 2,148 | 0 | 0 | 2,148 | 0 |
| Balance at Sep. 29, 2012 | $ 933,442 | $ 590 | $ 244,861 | $ (9,134) | $ 697,125 |
| X | ||||||||||
|
- Definition
Common stock issued during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of adjustment to stockholders' equity associated with an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. No definition available.
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| X | ||||||||||
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- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tax benefit associated with any equity-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Pre tax adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains (losses). Includes gain (loss) on foreign currency forward exchange contracts. Includes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. Includes the gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Value stock issued during the period as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) (Parenthetical)
|
9 Months Ended |
|---|---|
|
Sep. 29, 2012
|
|
| Statement of Stockholders' Equity [Abstract] | |
| Exercise of stock options (in shares) | 166,600 |
| Issuance of common stock (in shares) | 21,708 |
| Withholdings from vesting of restricted stock | 60,542 |
| X | ||||||||||
|
- Definition
Shares issued to non management board members. No definition available.
|
| X | ||||||||||
|
- Definition
Parenthetical data to statement of changes in stockholders' equity No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amortization of the fair value step-up of inventory acquired in a business combination. No definition available.
|
| X | ||||||||||
|
- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Alternate captions include Noncash Interest Expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The effect of exchange rate changes on cash balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements. This element represents the cash inflow reported in the enterprise's financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Reductions in the entity's income taxes that arise when compensation cost (from non-qualified equity-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements. This element reduces net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate amount of intangible asset amortization recognized as expense during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow to reacquire other equity not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow to pay off an obligation from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
THE COMPANY
|
9 Months Ended |
|---|---|
|
Sep. 29, 2012
|
|
| Company [Abstract] | |
| THE COMPANY | THE COMPANY: Carter’s, Inc. and its wholly owned subsidiaries (collectively, the “Company,” “we,” “us,” “its,” and “our”) design, source, and market branded childrenswear under the Carter’s, Child of Mine, Just One You, Precious Firsts, OshKosh, and other brands. Our products are sourced through contractual arrangements with manufacturers worldwide for wholesale distribution to major domestic and international retailers and for our 398 Carter’s, 167 OshKosh, and 79 Canadian retail stores that market our brand name merchandise and other licensed products manufactured by other companies. On June 30, 2011, we purchased Bonnie Togs (the “Acquisition”), a Canadian specialty retailer focused exclusively on the children’s apparel and accessories marketplace. Prior to the Acquisition, Bonnie Togs was a significant international licensee of the Company. As a result of the acquisition of Bonnie Togs, the Company reevaluated and realigned certain of its reportable segments, please see Note 12, “Segment Information.” Our unaudited condensed consolidated balance sheets as of September 29, 2012 and October 1, 2011 and our audited consolidated balance sheet as of December 31, 2011 include Bonnie Togs. The unaudited condensed consolidated statements of operations for the three and nine-month periods ended October 1, 2011 include Bonnie Togs, effective the date of the Acquisition. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
BASIS OF PREPARATION
|
9 Months Ended |
|---|---|
|
Sep. 29, 2012
|
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| BASIS OF PREPARATION | BASIS OF PREPARATION: The accompanying unaudited condensed consolidated financial statements include the accounts of Carter’s, Inc. and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. In our opinion, the Company’s accompanying unaudited condensed consolidated financial statements contain all adjustments necessary for a fair statement of our financial position as of September 29, 2012, the results of our operations for the three and nine-month periods ended September 29, 2012 and October 1, 2011, comprehensive income for the three and nine-month periods ended September 29, 2012 and October 1, 2011, changes in stockholders’ equity for the nine-month period ended September 29, 2012, and cash flows for the nine-month periods ended September 29, 2012 and October 1, 2011. Except as otherwise disclosed, all such adjustments consist only of those of a normal recurring nature. Operating results for the three and nine-month periods ended September 29, 2012 are not necessarily indicative of the results that may be expected for the fiscal year ending December 29, 2012. Our accompanying condensed consolidated balance sheet as of December 31, 2011 is derived from our audited consolidated financial statements included in our most recently filed Annual Report on Form 10-K, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). Certain information and footnote disclosure normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and the instructions to Form 10-Q. The accounting policies we follow are set forth in our most recently filed Annual Report on Form 10-K, in the notes to our audited consolidated financial statements for the fiscal year ended December 31, 2011. Our fiscal year ends on the Saturday, in December or January, nearest the last day of December. The accompanying unaudited condensed consolidated financial statements for the third quarter and first nine months of fiscal 2012 reflects our financial position as of September 29, 2012. The third quarter and first nine months of fiscal 2011 ended on October 1, 2011. Certain prior year amounts have been reclassified to facilitate comparability with current year presentation. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
ACQUISITION OF BONNIE TOGS
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
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| Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACQUISITION OF BONNIE TOGS | ACQUISITION OF BONNIE TOGS: On June 30, 2011, The Company purchased all of the outstanding shares of capital stock of Bonnie Togs for total consideration of up to CAD $95 million, of which USD $61.2 million was paid in cash at closing. The sellers may also be paid contingent consideration ranging from zero to CAD $35 million if the Canadian business meets certain earnings targets for the period beginning July 1, 2011 and ending on June 27, 2015. Sellers may receive a portion of the contingent consideration of up to CAD $25 million if interim earnings targets are met through June 2013 and June 2014, respectively. Any such payments are not recoverable by the Company in the event of any failure to meet overall targets. The Company had a discounted contingent consideration liability of approximately $29.4 million as of September 29, 2012, approximately $25.6 million as of December 31, 2011, and approximately $23.4 million as of October 1, 2011, based upon the high probability that Bonnie Togs will attain its earnings targets. As of September 29, 2012, approximately $14.4 million of the contingent consideration liability is included in other current liabilities and the remainder is included in other long-term liabilities, on the accompanying unaudited condensed consolidated balance sheet. The $2.1 million increase in fair value during the third quarter of fiscal 2012 reflects accretion expense of approximately $1.1 million and a $1.0 million unfavorable foreign currency translation adjustment reflected in accumulated other comprehensive income. The $3.8 million increase in the fair value of the liability during the first nine months of fiscal 2012 reflects accretion expense of approximately $2.9 million and a $0.9 million unfavorable foreign currency translation adjustment reflected in accumulated other comprehensive income. The Company determined the fair value of the contingent consideration based upon a probability-weighted discounted cash flow analysis and will continue to revalue the contingent consideration at each reporting date. The following table summarizes the fair values of the assets acquired and liabilities assumed at June 30, 2011, the date of the Acquisition:
In connection with the Acquisition, the Company recorded total acquired intangible assets of approximately $55.9 million, including $55.0 million of Bonnie Togs goodwill, $0.6 million related to the Bonnie Togs tradename (life of two years), and $0.3 million related to non-compete agreements for certain executives (life of four years). The following unaudited pro forma summary presents information as if Bonnie Togs had been acquired on January 2, 2011 and assumes that there were no other changes in our operations. The pro forma information does not necessarily reflect the actual results that would have occurred had the Company operated the Canadian business since January 2, 2011, nor is it necessarily indicative of the future results of operations of the combined companies.
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| X | ||||||||||
|
- Definition
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
|
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
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| COMPREHENSIVE INCOME (LOSS) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS): The components of accumulated other comprehensive income (loss) consisted of the following:
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
LONG-TERM DEBT
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 29, 2012
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| Long-term Debt, Unclassified [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LONG-TERM DEBT | LONG-TERM DEBT: Long-term debt consisted of the following:
Revolving Credit Facility On October 15, 2010, the Company entered into a $375 million ($130 million sub-limit for letters of credit and a swing line sub-limit of $40 million) revolving credit facility with Bank of America as sole lead arranger and administrative agent, JP Morgan Chase Bank as syndication agent, and other financial institutions. This revolving credit facility was immediately drawn upon to pay off the Company’s former term loan of $232.2 million and pay transaction fees and expenses of $3.8 million, leaving approximately $130 million available under the revolver for future borrowings (net of letters of credit of approximately $8.6 million). In connection with the repayment of the Company’s former term loan, in the fourth quarter of fiscal 2010 the Company wrote off approximately $1.2 million in unamortized debt issuance costs. In addition, in connection with the revolving credit facility, the Company recorded $3.5 million of debt issuance costs to be amortized over the term of the revolving credit facility. On December 22, 2011, the Company and lenders amended and restated the revolving credit facility to, among other things, provide a U.S. dollar revolving facility of $340 million ($130 million sub-limit for letters of credit and a swing line sub-limit of $40 million) and a $35 million multicurrency revolving facility ($15 million sub-limit for letters of credit and a swing line sub-limit of $5 million), which is available for borrowings by either TWCC or our Canadian subsidiary, in U.S. dollars or Canadian dollars. On August 31, 2012, the Company and lenders amended and restated the revolving credit facility to, among other things, improve interest rates applicable to pricing, extend the maturity of the facility, and allow borrowings in currencies other than U.S. dollars or Canadian dollars subject to the consent of all multicurrency lenders. The aggregate principal amount of the facility remained unchanged at $375 million consisting of a $340 million U.S. dollar revolving credit facility and a $35 million multicurrency revolving credit facility (although the sub-limit for U.S. dollar letters of credit was increased to $175 million). In connection with the amendment, the Company recorded approximately $1.9 million in debt issuance costs which, together with the existing unamortized debt issuance costs, will be amortized over the new remaining term of the facility (five years). The term of the revolving credit facility expires August 31, 2017. During the first nine months of fiscal 2012, the Company repaid borrowings under its revolving credit facility of $50.0 million. At September 29, 2012, we had approximately $186.0 million in revolver borrowings (fair value approximates book value), exclusive of $11.4 million of outstanding letters of credit, at an effective interest rate of 1.97%. NOTE 5 – LONG-TERM DEBT: (Continued) Pricing Options The revolving credit facility provides for two pricing options for U.S. dollar facility revolving loans: (i) revolving loans on which interest is payable quarterly at a base rate equal to the highest of (x) the Federal Funds Rate plus ½ of 1%, (y) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A. as its prime rate, or (z) the Eurodollar Rate plus 1%, plus, in each case, an applicable margin initially equal to 0.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 0.50% to 1.25% and (ii) revolving loans on which interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to 1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. The revolving credit facility also provides for two pricing options for multicurrency facility revolving loans denominated in U.S. dollars: (i) revolving loans on which interest is payable quarterly at a base rate equal to the highest of (x) the Federal Funds Rate plus ½ of 1%, (y) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A., Canada Branch in Toronto as its reference rate for loans in U.S. dollars to its Canadian borrowers, or (z) the Eurodollar Rate plus 1%, plus, in each case, an applicable margin initially equal to 0.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 0.50% to 1.25% and (ii) revolving loans on which interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to 1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. In addition, the revolving credit facility provides for two pricing options for multicurrency facility revolving loans denominated in Canadian dollars: (i) revolving loans on which interest is payable quarterly at a base rate equal to the highest of (x) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A., Canada Branch in Toronto as its prime rate for loans in Canadian Dollars to Canadian Borrowers and (y) the rate of interest in effect for such day for Canadian dollar bankers’ acceptances having a term of one month that appears on the Reuters Screen CDOR Page plus ½ of 1%, plus, in each case, an applicable margin initially equal to 0.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 0.50% to 1.25%, and (ii) revolving loans on which interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to 1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. The multicurrency revolving facility also provides for borrowings in currencies other than U.S. Dollars or Canadian dollars, subject to certain limitations. For such multicurrency revolving loans, interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to 1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. Amounts outstanding under the revolving credit facility currently accrue interest at a LIBOR rate plus 1.75%. Covenants The revolving credit facility contains and defines financial covenants, including a lease adjusted leverage ratio (defined as, with certain adjustments, the ratio of the Company’s consolidated indebtedness plus six times rent expense to consolidated net income before interest, taxes, depreciation, amortization, and rent expense (“EBITDAR”)) to exceed (x) if such period ends on or before December 31, 2016, 3.75:1.00 and (y) if such period ends after December 31, 2016, 3.50:1.00; and consolidated fixed charge coverage ratio (defined as, with certain adjustments, the ratio of consolidated EBITDAR to consolidated fixed charges (defined as interest plus rent expense)), for any such period to be less than 2.50:1.00. As of September 29, 2012, the Company believes it was in compliance with its financial debt covenants. Provisions in our senior credit facility currently restrict the ability of our operating subsidiary, The William Carter Company ("TWCC"), from paying cash dividends to our parent company, Carter’s, Inc., in excess of $15.0 million unless TWCC and its consolidated subsidiaries meet certain leverage ratio and minimum availability requirements under the credit facility, which materially restricts Carter’s, Inc. from paying cash dividends on our common stock. We do not anticipate paying cash dividends on our common stock in the foreseeable future but intend to retain future earnings, if any, for reinvestment in the future operation and expansion of our business and related development activities. Any future decision to pay cash dividends will be at the discretion of our Board of Directors and will depend upon our financial condition, results of operations, terms of financing arrangements, capital requirements, and any other factors as our Board of Directors deems relevant. |
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The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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GOODWILL AND OTHER INTANGIBLE ASSETS
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Sep. 29, 2012
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS: In connection with the Acquisition, the Company recorded goodwill and other intangible assets including a Bonnie Togs tradename and non-compete agreements for certain executives of Bonnie Togs, in accordance with accounting guidance on business combinations. Goodwill as of September 29, 2012, represents the excess of the cost of the acquisition of Carter’s, Inc., which was consummated on August 15, 2001, and the acquisition of Bonnie Togs, which was consummated on June 30, 2011, over the fair value of the net assets acquired. Our goodwill is not deductible for tax purposes. The OshKosh tradename was recorded in connection with the acquisition of OshKosh on July 14, 2005 and adjusted in fiscal 2007 to reflect the impairment of the value. Our Carter’s and Bonnie Togs goodwill and Carter’s and OshKosh tradenames are deemed to have indefinite lives and are not being amortized. The Bonnie Togs tradename and non-compete agreements for certain executives have definite lives and are being amortized over two and four years, respectively. The Company’s intangible assets were as follows:
The following is a reconciliation of Bonnie Togs' intangible assets:
Amortization expense for intangible assets subject to amortization was approximately $0.1 million and $0.3 million for the three and nine-month periods ended September 29, 2012, respectively. Amortization expense for intangible assets subject to amortization was approximately $0.1 million for both the three and nine-month periods ended October 1, 2011. |
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The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INCOME TAXES
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Sep. 29, 2012
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| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES: The Company and its subsidiaries file income tax returns in the United States and in various states and local jurisdictions. The Company’s subsidiaries also file income tax returns in Canada and Hong Kong, as well as various Canadian provinces. The Internal Revenue Service completed its income tax audit for fiscal 2009 during fiscal 2011. The federal statute of limitations for fiscal 2008 closed during the third quarter of fiscal 2012. In most cases, the Company is no longer subject to state and local tax authority examinations for years prior to fiscal 2007. During the third quarter of fiscal 2012 and 2011, we reversed approximately $0.8 million and $0.3 million, respectively, of reserves for which the statute of limitations expired during the respective quarter. As of September 29, 2012, the Company had gross unrecognized tax benefits of approximately $10.1 million, $6.9 million of which, if ultimately recognized, will impact the Company’s effective tax rate in the period settled. The Company has recorded tax positions for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of such deductions. Because of deferred tax accounting, changes in the timing of these deductions would not impact the annual effective tax rate, but would accelerate the payment of cash to the taxing authorities. Included in the reserves for unrecognized tax benefits are approximately $1.7 million of reserves for which the statute of limitations is expected to expire within the next fiscal year. If these tax benefits are ultimately recognized, such recognition, net of federal income taxes, may impact our annual effective tax rate for fiscal 2012 or 2013 and the effective tax rate in the quarter in which the benefits are recognized. We recognize interest related to unrecognized tax benefits as a component of interest expense and penalties related to unrecognized tax benefits as a component of income tax expense. During the third quarter of fiscal 2012, interest expense recorded on uncertain tax positions was not material. During the third quarter of fiscal 2011, the Company recognized a reduction of interest expense on uncertain tax positions of approximately $0.1 million. During the nine-month periods ended September 29, 2012 and October 1, 2011, the Company recognized interest expense on uncertain tax positions of approximately $0.2 million and $0.1 million, respectively. The Company had approximately $0.7 million, $0.5 million, and $0.7 million of interest accrued on uncertain tax positions as of September 29, 2012, December 31, 2011, and October 1, 2011, respectively. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE MEASUREMENTS
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Sep. 29, 2012
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS: The Company accounts for its fair value measurements in accordance with accounting guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The fair value hierarchy for disclosure of fair value measurements is as follows:
The following table summarizes assets and liabilities measured at fair value on a recurring basis:
NOTE 8 – FAIR VALUE MEASUREMENTS: (Continued) The following summarizes the significant unobservable inputs for our Level 3 fair value measurements at September 29, 2012:
At September 29, 2012, December 31, 2011, and October 1, 2011, we had approximately $50.3 million, $50.2 million, and $25.2 million of cash invested in money market deposit accounts. As of September 29, 2012, December 31, 2011, and October 1, 2011, the fair value of the Company’s outstanding borrowings under the revolving credit facility approximated book value and would have been disclosed as a Level 1 liability in the fair value hierarchy had it been measured at fair value. As part of the Company's overall strategy to manage the level of exposure to the risk of foreign currency exchange rate fluctuations, primarily exposure to changes in the value of the U.S. dollar in relation to the Canadian dollar, the Company hedges a portion of its foreign currency exposures anticipated over the ensuing twelve-month period. The Company uses foreign exchange contracts that generally have maturities of up to 12 months to provide continuing coverage throughout the hedging period. As of September 29, 2012, the Company had contracts for the purchase of $8.0 million of U.S. dollars at fixed rates. The fair value of these forward contracts was a liability of $0.1 million. The Company accounts for these foreign exchange contracts as undesignated positions in accordance with accounting standards on derivatives and hedging. As such, these positions are marked to fair value through earnings at each reporting date. During the third quarter of fiscal 2012, the Company also recorded a $0.4 million loss on the mark-to-market of foreign currency exchange contracts and a $0.6 million gain on the remeasurement of foreign denominated payables. During the first nine months of fiscal 2012, the Company recorded an $0.8 million loss on the mark-to-market of foreign currency exchange contracts and a $1.0 million gain on the remeasurement of foreign denominated payables. The fair value of the discounted contingent consideration liability was approximately $29.4 million as of September 29, 2012, $25.6 million as of December 31, 2011, and $23.4 million as of October 1, 2011. The $2.1 million increase in fair value during the third quarter of fiscal 2012, reflects accretion expense of approximately $1.1 million and a $1.0 million unfavorable foreign currency translation adjustment reflected in accumulated other comprehensive income. The $3.8 million increase in fair value during the first nine months of fiscal 2012, reflects accretion expense of approximately $2.9 million and a $0.9 million unfavorable foreign currency translation adjustment reflected in accumulated other comprehensive income. The Company determined the fair value of the contingent consideration based upon a probability-weighted discounted cash flow analysis. Changes in the estimated earnout payment, discount rate, or probability assumptions used could materially impact the fair value of the contingent consideration. NOTE 8 – FAIR VALUE MEASUREMENTS: (Continued) The fair value of our derivative instruments in our accompanying unaudited condensed consolidated balance sheets were as follows:
The effect of undesignated derivative instruments on our accompanying unaudited condensed consolidated statements of operations was as follows:
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- Definition
Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EMPLOYEE BENEFIT PLANS
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Sep. 29, 2012
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| Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS: Under a defined benefit plan frozen in 1991, we offer a comprehensive post-retirement medical plan to current and certain future retirees and their spouses until they become eligible for Medicare or a Medicare Supplement Plan. We also offer life insurance to current and certain future retirees. Employee contributions are required as a condition of participation for both medical benefits and life insurance and our liabilities are net of these expected employee contributions. See Note 8 “Employee Benefit Plans” to our audited consolidated financial statements in our most recently filed Annual Report on Form 10-K for further information. The components of post-retirement benefit expense charged to operations are as follows:
NOTE 9 – EMPLOYEE BENEFIT PLANS: (Continued) We have an obligation under a defined benefit plan covering certain former officers and their spouses. The component of pension expense charged to operations is as follows:
Under a defined benefit pension plan frozen as of December 31, 2005, certain current and former employees of OshKosh are eligible to receive benefits. The net periodic pension (benefit) expense associated with this pension plan and included in the statement of operations was comprised of:
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The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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COMMON STOCK
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9 Months Ended |
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Sep. 29, 2012
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| Stockholders' Equity Note [Abstract] | |
| COMMON STOCK | COMMON STOCK: During the first nine months of 2012, the Company issued 21,708 shares of common stock at a fair value of $49.76 per share to non-management board members. In connection with this issuance, the Company recognized approximately $1.1 million in stock-based compensation expense. During the first nine months of fiscal 2011, the Company issued 38,520 shares of common stock at a fair value of $30.38 per share to its non-management board members. In connection with this issuance, we recognized approximately $1.2 million in stock-based compensation expense. The Company received no proceeds from the issuance of these shares. During fiscal 2007, the Company’s Board of Directors approved a share repurchase authorization, pursuant to which the Company was authorized to purchase up to $100 million of its outstanding common shares. During fiscal 2010, the Company’s Board of Directors approved a share repurchase authorization, pursuant to which the Company is authorized to purchase up to an additional $100 million of its outstanding common shares. As of August 13, 2010, the Company had repurchased outstanding shares in the amount totaling the entire $100 million authorized by the Board of Directors on February 16, 2007. The Company did not repurchase any shares of its common stock during the first nine months of fiscal 2012 and 2011 pursuant to any repurchase authorization. Since inception of the repurchase program and through the first nine months of fiscal 2012, the Company repurchased and retired 6,658,410 shares, or approximately $141.1 million, of its common stock at an average price of $21.19 per share. We have reduced common stock by the par value of such shares repurchased and have deducted the remaining excess repurchase price over par value from additional paid-in capital. Future repurchases may occur from time to time in the open market, in negotiated transactions, or otherwise. The timing and amount of any repurchases will be determined by the Company’s management, based on its evaluation of market conditions, share price, other investment priorities, and other factors. |
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The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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STOCK-BASED COMPENSATION
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Sep. 29, 2012
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK - BASED COMPENSATION | STOCK-BASED COMPENSATION: Under the Company’s Amended and Restated Equity Incentive Plan (the “Plan”), the compensation committee of our Board of Directors may award incentive stock options (ISOs and non-ISOs), stock appreciation rights (SARs), restricted stock, unrestricted stock, stock deliverable on a deferred basis (including restricted stock units), and performance-based stock awards. The fair value of time-based or performance-based stock option grants are estimated on the date of grant using the Black-Scholes option pricing method with the following weighted-average assumptions used for grants issued during the nine-month period ended September 29, 2012.
The fair value of restricted stock and restricted stock units (collectively, “restricted stock awards”) is determined based on the quoted closing price of our common stock on the date of grant. The following table summarizes our stock option and restricted stock awards activity during the nine-month period ended September 29, 2012:
During the three-month period ended September 29, 2012, we granted 5,400 stock options with a weighted-average Black-Scholes fair value of $18.11 per share and a weighted-average exercise price of $52.63 per share. In connection with this grant, we recognized approximately $2,800 in stock-based compensation expense during the three-month period ended September 29, 2012. During the nine-month period ended September 29, 2012, we granted 351,000 stock options with a weighted-average Black-Scholes fair value of $15.16 per share and a weighted-average exercise price of $42.81 per share. In connection with these grants, we recognized approximately $732,000 in stock-based compensation expense during the nine-month period ended September 29, 2012. During the three-month period ended September 29, 2012, we granted 2,700 restricted stock awards with a weighted-average fair value on the date of grant of $52.63 per share. In connection with these grants, we recognized approximately $4,000 in stock-based compensation expense during the three-month period ended September 29, 2012. During the nine-month period ended September 29, 2012, we granted 327,500 restricted stock awards with a weighted-average fair value on the date of grant of $42.72 per share. In connection with these grants, we recognized approximately $2.1 million in stock-based compensation expense during the nine-month period ended September 29, 2012. NOTE 11 – STOCK-BASED COMPENSATION: (Continued) During the nine-month period ended September 29, 2012, the Company granted our Chief Executive Officer 100,000 performance-based restricted shares at a fair market value of $42.61 per share. In addition, the Company granted our other executive officers 52,000 performance-based restricted shares at a fair market value of $42.61 per share. Vesting of these shares is contingent upon meeting specific performance targets and would occur, if ever, in fiscal 2015. Currently, the Company believes that these targets will be achieved and, accordingly, we will continue to record compensation expense until the restricted shares vest or the Company’s assessment of achievement of the performance criteria changes. Unrecognized stock-based compensation expense related to outstanding unvested stock options and unvested restricted stock awards is expected to be recorded as follows:
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- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SEGMENT INFORMATION
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Sep. 29, 2012
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION | SEGMENT INFORMATION: We report segment information in accordance with accounting guidance on segment reporting, which requires segment information to be disclosed based upon a “management approach.” The management approach refers to the internal reporting that is used by management for making operating decisions and assessing the performance of our reportable segments. We report our corporate expenses separately as they are not included in the internal measures of segment operating performance used by the Company in order to measure the underlying performance of our reportable segments. As a result of the Acquisition, the Company realigned certain of its reportable segments. Effective October 1, 2011, the Company's reportable segments include Carter’s retail, Carter’s wholesale, OshKosh retail, OshKosh wholesale, and international. NOTE 12 – SEGMENT INFORMATION: (Continued) The table below presents certain segment information for the periods indicated:
For the third quarter and first nine months of fiscal 2012 and 2011, no customers accounted for 10% or more of our consolidated net sales. |
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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EARNINGS PER SHARE
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Sep. 29, 2012
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EARNINGS PER SHARE | EARNINGS PER SHARE: The Company calculates basic and diluted net income per common share in accordance with accounting guidance which requires earnings per share to be calculated pursuant to the two-class method for unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid). Basic net income per share is calculated by dividing net income for the period by the weighted-average common shares outstanding for the period. Diluted net income per share includes the effect of dilutive instruments, such as stock options and restricted stock awards, and uses the average share price for the period in determining the number of shares that are to be added to the weighted-average number of shares outstanding. The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:
For the three and nine-month periods ended September 29, 2012, anti-dilutive and performance-based restricted shares of 573,550 and 598,250, respectively, were excluded from the computations of diluted earnings per share. For both the three and nine-month periods ended October 1, 2011, anti-dilutive shares of 963,925 were excluded from the computations of diluted earnings per share. |
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FACILITY CLOSURE
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Sep. 29, 2012
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| FACILITY CLOSURE [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Facility Closure | FACILITY CLOSURE: Consistent with the Company's strategy to strengthen our distribution capabilities, we decided to close our Hogansville, Georgia facility in 2013 and open a new, larger multi-channel distribution facility in Braselton, Georgia. On March 14, 2012, the Company announced to affected employees its plan to close the Hogansville facility. Approximately 210 employees are affected by this closure. In conjunction with the plan to close the Hogansville distribution facility, the Company recorded approximately $0.8 million and $2.6 million in closing-related costs during the third quarter and first nine months of fiscal 2012, respectively. The total amount of charges consisted of severance of $0.3 million and $1.7 million, accelerated depreciation (included in selling, general, and administrative expenses) of $0.4 million and $0.8 million, and other closure costs of $0.1 million for both the third quarter and the first nine months of fiscal 2012, respectively. As of September 29, 2012, there was approximately $1.8 million of restructuring reserves included in other current liabilities on the accompanying unaudited condensed consolidated balance sheet related to this closure. The Company expects to incur additional closure-related charges of approximately $0.9 million for one-time termination benefits ($0.3 million in fiscal 2012 and $0.6 million in fiscal 2013) and $0.9 million in accelerated depreciation ($0.4 million in fiscal 2012 and $0.5 million in fiscal 2013), and other closure costs of $1.0 million in fiscal 2013. The salvage value of this facility is estimated to be $2.0 million. The following table summarizes restructuring reserves related to the closure of the Hogansville facility which are included in other current liabilities in the accompanying unaudited condensed consolidated balance sheet as of September 29, 2012:
When the Company determined that it was probable that the Hogansville facility would be closed, an impairment test was performed under the "held and used" model. We determined that the assets were not impaired; however, the estimated useful lives of the assets were reassessed and depreciation was accelerated over the expected remaining shutdown period. |
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The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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RECENT ACCOUNTING PRONOUNCEMENTS
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9 Months Ended |
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Sep. 29, 2012
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| New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
| RECENT ACCOUNTING PRONOUNCEMENTS | RECENT ACCOUNTING PRONOUNCEMENTS: In May 2011, the Financial Accounting Standards Board ("FASB") issued updated accounting guidance related to fair value measurements and disclosures that result in common fair value measurements and disclosures between GAAP and International Financial Reporting Standards. This guidance includes amendments that clarify the intent about the application of existing fair value measurements and disclosures, while other amendments change a principle or requirement for fair value measurements or disclosures. This guidance is effective for interim and annual periods beginning after December 15, 2011. The Company has included the required disclosures within Note 8, Fair Value Measurements. In June 2011, the FASB issued guidance to amend the presentation of comprehensive income to allow an entity the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both instances, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. The guidance eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity. In December 2011, the FASB issued guidance to indefinitely defer provisions requiring reclassification adjustments out of other comprehensive income to be presented on the face of the financial statements. The other portions of the original guidance remain unchanged. These standards are effective for interim and annual periods beginning after December 15, 2011, and are to be applied retrospectively. The Company has included such disclosures within this quarterly report. In September 2011, the FASB issued new guidance on testing goodwill for impairment. This guidance gives companies the option to perform a qualitative assessment to first assess whether the fair value of a reporting unit is less than its carrying amount. If an entity determines it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. This guidance is effective for fiscal years beginning after December 15, 2011. The Company does not believe the adoption of this guidance will have a material impact on its consolidated financial statements. In July 2012, the FASB issued new guidance on impairment testing of indefinite-lived intangible assets, other than goodwill. The new guidance gives companies the option to perform a qualitative assessment to first assess whether the fair value of an indefinite-lived intangible asset is less than its carrying value. If the company determines it is not more likely than not that the fair value of the indefinite-lived intangible assets is less than the carrying value, then determining the fair value of the indefinite-lived intangible asset would be unnecessary. This guidance is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012 and early adoption is permitted. The Company does not believe the adoption of this guidance will have a material impact on its consolidated financial statements. |
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The entire disclosure for a new accounting pronouncement that has been issued but not yet adopted. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Event
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9 Months Ended |
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Sep. 29, 2012
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| Subsequent Event [Abstract] | |
| Subsequent Events [Text Block] | SUBSEQUENT EVENT: On October 11, 2012, the Company announced plans to consolidate its retail and financial operations currently managed in its Shelton, Connecticut facility with the Company's Atlanta, Georgia-based operations. The Company expects to complete this consolidation by the end of fiscal 2013. The Company anticipates pre-tax consolidation-related expenses in the range of $35 million to $40 million over the next 12 to 18 months. The Company expects approximately $34 million of those charges to be cash, consisting of approximately $13 million of recruiting and relocation expenses, $10 million of employee severance and other benefit costs, $6 million of lease-related charges, and $5 million of other associated costs. The Company also expects approximately $3 million of those charges to be non-cash accelerated depreciation expense in connection with the office consolidation. |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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ACQUISITION OF BONNIE TOGS (Tables)
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Sep. 29, 2012
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| Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Acquisition, Pro Forma Information [Table Text Block] | The pro forma information does not necessarily reflect the actual results that would have occurred had the Company operated the Canadian business since January 2, 2011, nor is it necessarily indicative of the future results of operations of the combined companies.
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| Summary of fair values of assets acquired and liabilities assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at June 30, 2011, the date of the Acquisition:
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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
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Sep. 29, 2012
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| COMPREHENSIVE INCOME (LOSS) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income (loss) consisted of the following:
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Tabular disclosure of the components of accumulated other comprehensive income (loss). No definition available.
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LONG-TERM DEBT (Tables)
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Sep. 29, 2012
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| Long-Term Debt Table | Long-term debt consisted of the following:
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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
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Sep. 29, 2012
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| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets Table | The Company’s intangible assets were as follows:
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| Reconciliation of Bonnie Togs intangible assets | The following is a reconciliation of Bonnie Togs' intangible assets:
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| X | ||||||||||
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- Definition
Tabular disclosure of indefinite and finite lived intangible assets and the changes during the year due to acquisition, sale, impairment or for other reasons in total and by segment. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the carrying value of intangible assets not subject to amortization, excluding goodwill, in total and by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of the company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE MEASUREMENTS (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets and Liabilities Measured at Fair Value Table | The following table summarizes assets and liabilities measured at fair value on a recurring basis:
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| Significant Unobservable Inputs for Level 3 Fair Value Measurements Table | The following summarizes the significant unobservable inputs for our Level 3 fair value measurements at September 29, 2012:
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| Fair Value of Derivative Instrument Table | The fair value of our derivative instruments in our accompanying unaudited condensed consolidated balance sheets were as follows:
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| Effect of Derivative Instruments Designated As Cash Flow Hedges Table | The effect of undesignated derivative instruments on our accompanying unaudited condensed consolidated statements of operations was as follows:
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| X | ||||||||||
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- Definition
This element represents the disclosure related to assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets and liabilities that are measured on a recurring and/or nonrecurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
EMPLOYEE BENEFIT PLANS (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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Supplemental Employee Retirement Plans [Member]
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Benefit Plan Expense | The component of pension expense charged to operations is as follows:
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Postretirement Benefit Plans [Member]
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Benefit Plan Expense | The components of post-retirement benefit expense charged to operations are as follows:
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Pension Plans [Member]
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| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Benefit Plan Expense | The net periodic pension (benefit) expense associated with this pension plan and included in the statement of operations was comprised of:
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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STOCK-BASED COMPENSATION (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assumptions used for grants and summary of stock options and restricted stock activity | The fair value of time-based or performance-based stock option grants are estimated on the date of grant using the Black-Scholes option pricing method with the following weighted-average assumptions used for grants issued during the nine-month period ended September 29, 2012.
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| Stock Option and Restricted Stock Activity | The following table summarizes our stock option and restricted stock awards activity during the nine-month period ended September 29, 2012:
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| Unrecognized stock-based compensation expense | Unrecognized stock-based compensation expense related to outstanding unvested stock options and unvested restricted stock awards is expected to be recorded as follows:
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- Definition
Tabular disclosure of the roll forward of activity related to options and equity instruments other than options, including but not limited to exercisable options outstanding. No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized which it is expected to be recognized. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SEGMENT INFORMATION (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of segment information | The table below presents certain segment information for the periods indicated:
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| X | ||||||||||
|
- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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EARNINGS PER SHARE (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding | The following is a reconciliation of basic common shares outstanding to diluted common and common equivalent shares outstanding:
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the reconciliation of the weighted average number of shares outstanding and disclosures pertaining to an entity's basic and diluted earnings per share. No definition available.
|
| X | ||||||||||
|
- Details
|
|
FACILITY CLOSURE Facility Closure Table Text Block (Tables)
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Schedule of Restructuring and Related Costs [Table Text Block] | The following table summarizes restructuring reserves related to the closure of the Hogansville facility which are included in other current liabilities in the accompanying unaudited condensed consolidated balance sheet as of September 29, 2012:
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| X | ||||||||||
|
- Definition
Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
THE COMPANY (Details)
|
Sep. 29, 2012
|
|---|---|
| Company [Abstract] | |
| Number of Carter's locations | 398 |
| Number of OshKosh locations | 167 |
| Number of International Retail Stores | 79 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the number of stores. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of international retail stores. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the number of stores. No definition available.
|
|
ACQUISITION OF BONNIE TOGS (Details)
|
3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
USD ($)
|
Oct. 01, 2011
USD ($)
|
Sep. 29, 2012
USD ($)
|
Oct. 01, 2011
USD ($)
|
Jun. 30, 2011
USD ($)
|
Jun. 30, 2011
CAD
|
Sep. 29, 2012
Bonnie Togs Tradename [Member]
|
Jun. 30, 2011
Bonnie Togs Tradename [Member]
USD ($)
|
Jun. 30, 2011
Bonnie Togs [Member]
USD ($)
|
Sep. 29, 2012
Non Compete Agreements [Member]
|
Jun. 30, 2011
Non Compete Agreements [Member]
USD ($)
|
Sep. 29, 2012
Fair Value, Inputs, Level 3 [Member]
USD ($)
|
Dec. 31, 2011
Fair Value, Inputs, Level 3 [Member]
USD ($)
|
Oct. 01, 2011
Fair Value, Inputs, Level 3 [Member]
USD ($)
|
Sep. 29, 2012
Fair Value, Inputs, Level 3 [Member]
Market Approach Valuation Technique [Member]
USD ($)
|
Dec. 31, 2011
Fair Value, Inputs, Level 3 [Member]
Market Approach Valuation Technique [Member]
USD ($)
|
|
| Business Acquisition [Line Items] | ||||||||||||||||
| Pro forma net sales | $ 1,549,334,000 | |||||||||||||||
| Acquired Indefinite-lived Intangible Asset, Amount | 55,900,000 | |||||||||||||||
| Maximum consideration paid for business acquired | 95,000,000 | |||||||||||||||
| Cash paid at closing for business acquired | 61,200,000 | |||||||||||||||
| Individual maximum milestone payment amount | 14,400,000 | 14,400,000 | 25,000,000 | |||||||||||||
| Contingent consideration for meeting earnings target | 35,000,000 | |||||||||||||||
| Business Acquisiton Contingent Consideration For Meeting Earnings Target Discounted | 23,400,000 | 23,400,000 | 29,400,000 | |||||||||||||
| Amount of discounted liability in consolidated balance sheet based upon the high probability that company will attain its earnings targets | 29,400,000 | 25,600,000 | 23,400,000 | 29,400,000 | 25,600,000 | |||||||||||
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 2,100,000 | 3,800,000 | ||||||||||||||
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability Foreign Currency Translation Adjustment | 1,000,000 | 900,000 | ||||||||||||||
| Accretion Expense | 1,100,000 | 1,000,000 | 2,883,000 | 1,020,000 | ||||||||||||
| Current assets | 40,668,000 | |||||||||||||||
| Property, plant, and equipment, net | 13,485,000 | |||||||||||||||
| Goodwill | 54,982,000 | |||||||||||||||
| Bonnie Togs tradename | 623,000 | 600,000 | ||||||||||||||
| Non-compete agreements | 311,000 | 300,000 | ||||||||||||||
| Total asset acquired | 110,069,000 | |||||||||||||||
| Current liabilities | 18,231,000 | |||||||||||||||
| Non-current liabilities | 6,693,000 | |||||||||||||||
| Total liabilities assumed | 24,924,000 | |||||||||||||||
| Net assets acquired | 85,145,000 | |||||||||||||||
| Finite-Lived Intangible Assets, Useful Life | 2 | 4 | ||||||||||||||
| Pro forma net income | $ 86,155,000 | |||||||||||||||
| Pro forma diluted earnings per share | $ 1.47 | |||||||||||||||
| X | ||||||||||
|
- Definition
The maximum amount of any milestone payment for meeting certain criteria of the business acquisition agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum amount of consideration for a business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to the non-compete agreements asset that will be amortized. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to a tradename asset that will be amortized. No definition available.
|
| X | ||||||||||
|
- Definition
The maximum amount of contingent consideration payable for meeting earnings targets. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of discounted contingent consideration payable for meeting earnings targets. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the amount of foreign currency translation recognized during the reporting period related to contingent the consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of potential payments under the contingent consideration arrangement including cash and shares. No definition available.
|
| X | ||||||||||
|
- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate cost of a major indefinite-lived intangible asset class acquired, during the period, either individually or as part of a group of assets (in either an asset acquisition or business combination). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to assets acquired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total purchase price of the acquired entity. This includes cash paid to equity interest holders of the acquired entity, fair value of debt and equity securities issued to equity holders of the acquired entity, and transaction costs paid to third parties to consummate the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to current assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to current liabilities of the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to noncurrent liabilities of the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to property, plant and equipment to be used in ongoing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of any change, including any differences arising upon settlement, recognized during the reporting period in the value of a liability, arising from an item of contingent consideration, assumed in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The useful life of all finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 29, 2012
|
Dec. 31, 2011
|
Oct. 01, 2011
|
|---|---|---|---|
| COMPREHENSIVE INCOME (LOSS) [Abstract] | |||
| Cumulative Foreign Currency Translation Adjustments | $ (976) | $ (3,124) | $ (5,021) |
| Pension/post-retirement Liability Adjustment | (8,158) | (8,158) | (1,890) |
| Total accumulated other comprehensive income | $ (9,134) | $ (11,282) | $ (6,911) |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
LONG-TERM DEBT (Long-Term Debt) (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 29, 2012
|
Dec. 31, 2011
|
Oct. 01, 2011
|
|---|---|---|---|
| Long-term Debt, Unclassified [Abstract] | |||
| Long-term Line of Credit, Noncurrent | $ 186,000 | $ 236,000 | $ 236,000 |
| Long-term Debt, Current Maturities | 0 | 0 | 0 |
| Long-term Debt, Excluding Current Maturities | $ 186,000 | $ 236,000 | $ 236,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
LONG-TERM DEBT (Narrative) (Details) (USD $)
|
3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Jan. 01, 2011
|
Sep. 29, 2012
|
Aug. 31, 2012
|
Dec. 31, 2011
|
Oct. 01, 2011
|
Oct. 15, 2010
|
Sep. 29, 2012
Ends on or before December 31, 2016 [Member]
|
Sep. 29, 2012
Ends after December 31, 2016 [Member]
|
Sep. 29, 2012
Any period [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
|
Dec. 22, 2011
U.S. dollar facility revolving loans [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
Federal Funds Rate [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
Eurodollar Rate [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
Eurodollar Rate [Member]
Minimum [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
Eurodollar Rate [Member]
Maximum [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
British Bankers Association LIBOR Rate [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
British Bankers Association LIBOR Rate [Member]
Minimum [Member]
|
Sep. 29, 2012
U.S. dollar facility revolving loans [Member]
British Bankers Association LIBOR Rate [Member]
Maximum [Member]
|
Sep. 29, 2012
Multicurrency Credit Facility [Member]
|
Dec. 22, 2011
Multicurrency Credit Facility [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in U.S. dollars [Member]
Federal Funds Rate [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in U.S. dollars [Member]
Eurodollar Rate [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in U.S. dollars [Member]
Eurodollar Rate [Member]
Minimum [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in U.S. dollars [Member]
Eurodollar Rate [Member]
Maximum [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in U.S. dollars [Member]
British Bankers Association LIBOR Rate [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in U.S. dollars [Member]
British Bankers Association LIBOR Rate [Member]
Minimum [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in U.S. dollars [Member]
British Bankers Association LIBOR Rate [Member]
Maximum [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in Canadian dollars [Member]
CDOR Rate [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in Canadian dollars [Member]
CDOR Rate [Member]
Minimum [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in Canadian dollars [Member]
CDOR Rate [Member]
Maximum [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in Canadian dollars [Member]
British Bankers Association LIBOR Rate [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in Canadian dollars [Member]
British Bankers Association LIBOR Rate [Member]
Minimum [Member]
|
Sep. 29, 2012
Multicurrency facility loans denominated in Canadian dollars [Member]
British Bankers Association LIBOR Rate [Member]
Maximum [Member]
|
Sep. 29, 2012
MulticurrencyFacilityLoansDenominatedInOtherCurrencies [Member]
British Bankers Association LIBOR Rate [Member]
|
Sep. 29, 2012
MulticurrencyFacilityLoansDenominatedInOtherCurrencies [Member]
British Bankers Association LIBOR Rate [Member]
Minimum [Member]
|
Sep. 29, 2012
MulticurrencyFacilityLoansDenominatedInOtherCurrencies [Member]
British Bankers Association LIBOR Rate [Member]
Maximum [Member]
|
Sep. 29, 2012
Line of Credit BOA [Member]
|
Oct. 15, 2010
Line of Credit BOA [Member]
|
Sep. 29, 2012
Letter of Credit BOA [Member]
|
Oct. 15, 2010
Letter of Credit BOA [Member]
|
Sep. 29, 2012
Letter of Credit BOA [Member]
U.S. dollar facility revolving loans [Member]
|
Dec. 22, 2011
Letter of Credit BOA [Member]
U.S. dollar facility revolving loans [Member]
|
Dec. 22, 2011
Letter of Credit BOA [Member]
Multicurrency Credit Facility [Member]
|
Oct. 15, 2010
Swingline BOA [Member]
|
Dec. 22, 2011
Swingline BOA [Member]
U.S. dollar facility revolving loans [Member]
|
Dec. 22, 2011
Swingline BOA [Member]
Multicurrency Credit Facility [Member]
|
Oct. 15, 2010
Former letter of credit [Member]
|
|
| Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
| Revolving credit facility | $ 186,000,000 | $ 186,000,000 | $ 236,000,000 | $ 236,000,000 | $ 340,000,000 | $ 340,000,000 | $ 35,000,000 | $ 35,000,000 | $ 375,000,000 | $ 375,000,000 | $ 130,000,000 | $ 175,000,000 | $ 130,000,000 | $ 15,000,000 | ||||||||||||||||||||||||||||||||||
| Current maturities | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||
| Total long-term debt | 186,000,000 | 186,000,000 | 236,000,000 | 236,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
| Maximum borrowing capacity | 40,000,000 | 40,000,000 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
| Repayments of Long-term Lines of Credit | 50,000,000 | 232,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||
| Revolving credit facility interest rate description | The revolving credit facility provides for two pricing options for U.S. dollar facility revolving loans: (i) revolving loans on which interest is payable quarterly at a base rate equal to the highest of (x) the Federal Funds Rate plus ½ of 1%, (y) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A. as its prime rate, or (z) the Eurodollar Rate plus 1%, plus, in each case, an applicable margin initially equal to 0.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 0.50% to 1.25% and (ii) revolving loans on which interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. The revolving credit facility also provides for two pricing options for multicurrency facility revolving loans denominated in U.S. dollars: (i) revolving loans on which interest is payable quarterly at a base rate equal to the highest of (x) the Federal Funds Rate plus ½ of 1%, (y) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A., Canada Branch in Toronto as its reference rate for loans in U.S. dollars to its Canadian borrowers, or (z) the Eurodollar Rate plus 1%, plus, in each case, an applicable margin initially equal to 0.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 0.50% to 1.25% and (ii) revolving loans on which interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to 1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. In addition, the revolving credit facility provides for two pricing options for multicurrency facility revolving loans denominated in Canadian dollars: (i) revolving loans on which interest is payable quarterly at a base rate equal to the highest of (x) the rate of interest in effect for such day as publicly announced from time to time by Bank of America, N.A., Canada Branch in Toronto as its prime rate for loans in Canadian Dollars to Canadian Borrowers and (y) the rate of interest in effect for such day for Canadian dollar bankers’ acceptances having a term of one month that appears on the Reuters Screen CDOR Page plus ½ of 1%, plus, in each case, an applicable margin initially equal to 0.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 0.50% to 1.25%, and (ii) revolving loans on which interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to 1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. The multicurrency revolving facility also provides for borrowings in currencies other than U.S. Dollars or Canadian dollars, subject to certain limitations. For such multicurrency revolving loans, interest accrues for one, two, three, six or if, generally available, nine or twelve month interest periods (but is payable not less frequently than every three months) at a rate of interest per annum equal to an adjusted British Bankers Association LIBOR rate, plus an applicable margin initially equal to 1.75%, which may be adjusted based upon a leverage-based pricing grid ranging from 1.50% to 2.25%. | |||||||||||||||||||||||||||||||||||||||||||||||
| Variable interest rate, index | Federal Funds | Eurodollar | British Bankers Association LIBOR | Federal Funds | Eurodollar | British Bankers Association LIBOR | CDOR | British Bankers Association LIBOR | British Bankers Association LIBOR | |||||||||||||||||||||||||||||||||||||||
| Variable interest rate, basis spread (as a percentage) | 0.50% | 1.00% | 0.50% | 1.25% | 1.50% | 2.25% | 0.50% | 1.00% | 0.50% | 1.25% | 1.50% | 2.25% | 0.50% | 0.50% | 1.25% | 1.50% | 2.25% | 1.50% | 2.25% | |||||||||||||||||||||||||||||
| Variable interest rate, initial margin on basis spread (as a percentage) | 0.75% | 1.75% | 0.75% | 1.75% | 0.75% | 1.75% | 1.75% | |||||||||||||||||||||||||||||||||||||||||
| Applicable rate of interest on borrowed funds | 0.0175 | |||||||||||||||||||||||||||||||||||||||||||||||
| Covenant terms | The revolving credit facility contains and defines financial covenants, including a lease adjusted leverage ratio (defined as, with certain adjustments, the ratio of the Company’s consolidated indebtedness plus six times rent expense to consolidated net income before interest, taxes, depreciation, amortization, and rent expense (“EBITDAR”)) to exceed (x) if such period ends on or before December 31, 2016, 3.75:1.00 and (y) if such period ends after December 31, 2016, 3.50:1.00; and consolidated fixed charge coverage ratio (defined as, with certain adjustments, the ratio of consolidated EBITDAR to consolidated fixed charges (defined as interest plus rent expense)), for any such period to be less than 2.50:1.00. | |||||||||||||||||||||||||||||||||||||||||||||||
| Available under the revolver for future borrowings | 130,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
| Outstanding letters of credit | 11,400,000 | 8,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||
| Write off of Deferred Debt Issuance Cost | 1,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Finance Costs, Gross | 1,900,000 | 3,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||
| Debt instrument debt issuance cost amortization period | 5 | |||||||||||||||||||||||||||||||||||||||||||||||
| Effective interest rate (in hundredths) | 1.97% | |||||||||||||||||||||||||||||||||||||||||||||||
| Transaction fees and expenses associated with former term loan pay off | 3,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||
| Debt covenants, EBITDAR restrictions (as a ratio) | 3.75 | 3.50 | 2.50 | |||||||||||||||||||||||||||||||||||||||||||||
| Line Of Credit Facility Dividend Restrictions Maximum | $ 15,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Interest rate which amount currently outstanding initially accrue interest. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Basis Spread on Variable Rate, Initial Margin No definition available.
|
| X | ||||||||||
|
- Definition
Amortization period for debt issuance costs. No definition available.
|
| X | ||||||||||
|
- Definition
Line of Credit, Debt Covenants, EBITDAR Terms No definition available.
|
| X | ||||||||||
|
- Definition
Maximum amount of cash dividends payable from operating subsidiary, TWCC, to parent company under provisions in our senior credit facility unless TWCC and its consolidated subsidiaries meet certain leverage ratio and minimum availability requirements. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of borrowings reserved for outstanding letters of credit. No definition available.
|
| X | ||||||||||
|
- Definition
Transaction fees and expenses associated with former term loan pay off. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
For an unclassified balance sheet, the amount as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Such amount is before the consideration of accumulated amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the conditions for borrowing under the credit facility including the nature of any restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective interest rate at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for the settlement of obligation drawn from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount of intangible assets, allocated to the reportable segment. These assets, acquired either individually or as part of a group of assets, in either an asset acquisition or business combination, are assessed at least annually for impairment. Examples may include goodwill, trade secrets, contractual rights, trade names, and licensing agreements. No definition available.
|
| X | ||||||||||
|
- Definition
Reflects increase (decrease) to the recorded value of intangible assets for foreign currency translation adjustments needed to revise the carrying amount of intangible assets to fair value. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date of all intangible assets having statutory or estimated useful lives. The aggregate gross carrying amount (including any previously recognized impairment charges) of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable), in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trade name to gain or protect exclusive use thereof for a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
GOODWILL AND OTHER INTANGIBLE ASSETS (Definite Lived Intangible Assets) (Details) (USD $)
|
3 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
Noncompete Agreements [Member]
|
Dec. 31, 2011
Noncompete Agreements [Member]
|
Oct. 01, 2011
Noncompete Agreements [Member]
|
Sep. 29, 2012
Bonnie Togs Tradename [Member]
|
Dec. 31, 2011
Bonnie Togs Tradename [Member]
|
Oct. 01, 2011
Bonnie Togs Tradename [Member]
|
|
| Finite-Lived Intangible Assets [Line Items] | ||||||||||
| Weighted-average useful life | 4 years | 2 years | ||||||||
| Finite-Lived Intangible Assets, Gross | $ 305,000 | $ 295,000 | $ 287,000 | $ 612,000 | $ 592,000 | $ 576,000 | ||||
| Finite-Lived Intangible Assets, Accumulated Amortization | 95,000 | 37,000 | 19,000 | 383,000 | 150,000 | 75,000 | ||||
| Finite-Lived Intangible Assets, Net | 210,000 | 258,000 | 268,000 | 229,000 | 442,000 | 501,000 | ||||
| Amortization expense for intangible assets | $ 100,000 | $ 100,000 | $ 300,000 | $ 100,000 | ||||||
| X | ||||||||||
|
- Definition
The calculated weighted-average useful life of all finite-lived intangible assets. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date of all intangible assets having statutory or estimated useful lives. The aggregate gross carrying amount (including any previously recognized impairment charges) of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
INCOME TAXES (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Dec. 31, 2011
|
|
| Income Tax Disclosure [Abstract] | |||||
| Gross unrecognized tax benefits | $ 10.1 | $ 10.1 | |||
| Impact of recognized tax benefit on effective tax rate, if recognized | 6.9 | 6.9 | |||
| Tax reserve for which statute of limitations is expected to expire | 1.7 | 1.7 | |||
| Interest expense on uncertain tax positions | (0.1) | 0.2 | 0.1 | ||
| Interest accrued for uncertain tax positions | 0.7 | 0.7 | 0.7 | 0.7 | 0.5 |
| Reserves reversed due to expiration of statute of limitations | $ 0.8 | $ 0.3 | |||
| X | ||||||||||
|
- Definition
Tax reserve for which statute of limitations is expected to expire. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of interest expense accrued as of the date of the statement of financial position for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents interest expense recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from lapses of the applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
FAIR VALUE MEASUREMENTS (Assets and Liabilities Measured on Recurring Basis) (Details) (USD $)
|
3 Months Ended | 9 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
Fair Value, Inputs, Level 1 [Member]
|
Dec. 31, 2011
Fair Value, Inputs, Level 1 [Member]
|
Oct. 01, 2011
Fair Value, Inputs, Level 1 [Member]
|
Sep. 29, 2012
Fair Value, Inputs, Level 2 [Member]
|
Dec. 31, 2011
Fair Value, Inputs, Level 2 [Member]
|
Oct. 01, 2011
Fair Value, Inputs, Level 2 [Member]
|
Sep. 29, 2012
Fair Value, Inputs, Level 3 [Member]
|
Dec. 31, 2011
Fair Value, Inputs, Level 3 [Member]
|
Oct. 01, 2011
Fair Value, Inputs, Level 3 [Member]
|
Sep. 29, 2012
Market Approach Valuation Technique [Member]
Fair Value, Inputs, Level 3 [Member]
|
Dec. 31, 2011
Market Approach Valuation Technique [Member]
Fair Value, Inputs, Level 3 [Member]
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||||||||||||
| Business Acquisiton Contingent Consideration For Meeting Earnings Target Discounted | $ 23,400,000 | $ 23,400,000 | $ 29,400,000 | ||||||||||||
| Accretion Expense | 1,100,000 | 1,000,000 | 2,883,000 | 1,020,000 | |||||||||||
| Assets | |||||||||||||||
| Investments | 50,300,000 | 50,200,000 | 25,200,000 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
| Foreign Currency Contract, Asset, Fair Value Disclosure | 0 | 600,000 | 1,100,000 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
| Liabilities | |||||||||||||||
| Foreign Currency Contracts, Liability, Fair Value Disclosure | 100,000 | 100,000 | 100,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Contingent consideration | 0 | 0 | 0 | 0 | 0 | 0 | 29,400,000 | 25,600,000 | 23,400,000 | 29,400,000 | 25,600,000 | ||||
| Investments Breakdown [Abstract] | |||||||||||||||
| Cash invested in money market deposit account | 50,300,000 | 50,200,000 | 25,200,000 | ||||||||||||
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability Foreign Currency Translation Adjustment | $ 1,000,000 | $ 900,000 | |||||||||||||
| X | ||||||||||
|
- Definition
The amount of discounted contingent consideration payable for meeting earnings targets. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the amount of foreign currency translation recognized during the reporting period related to contingent the consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Cash invested in money market deposit account. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of potential payments under the contingent consideration arrangement including cash and shares. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents investment securities as of the balance sheet date which may include marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
FAIR VALUE MEASUREMENTS (Unobservable inputs) (Details) (USD $)
|
3 Months Ended | 9 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
Fair Value, Inputs, Level 3 [Member]
|
Dec. 31, 2011
Fair Value, Inputs, Level 3 [Member]
|
Oct. 01, 2011
Fair Value, Inputs, Level 3 [Member]
|
Sep. 29, 2012
Market Approach Valuation Technique [Member]
Fair Value, Inputs, Level 3 [Member]
|
Dec. 31, 2011
Market Approach Valuation Technique [Member]
Fair Value, Inputs, Level 3 [Member]
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||||||||
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 2,100,000 | $ 3,800,000 | |||||||
| Accretion Expense | 1,100,000 | 1,000,000 | 2,883,000 | 1,020,000 | |||||
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability Foreign Currency Translation Adjustment | 1,000,000 | 900,000 | |||||||
| Contingent consideration | 29,400,000 | 25,600,000 | 23,400,000 | 29,400,000 | 25,600,000 | ||||
| Estimated contigent consideration payment | $ 35,000,000 | ||||||||
| Unobservable inputs, Discount rate | 17.00% | ||||||||
| Unobservable inputs, Probability assumption | 100.00% | ||||||||
| X | ||||||||||
|
- Definition
This element represents the amount of foreign currency translation recognized during the reporting period related to contingent the consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of potential payments under the contingent consideration arrangement including cash and shares. No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value Inputs, Estimated Contingent Consideration Payment No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value Inputs, Probability Assumption No definition available.
|
| X | ||||||||||
|
- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of any change, including any differences arising upon settlement, recognized during the reporting period in the value of a liability, arising from an item of contingent consideration, assumed in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
FAIR VALUE MEASUREMENTS (Balance Sheet Disclosures) (Details) (USD $)
|
3 Months Ended | 9 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
Prepaid Expenses And Other Current Assets [Member]
|
Dec. 31, 2011
Prepaid Expenses And Other Current Assets [Member]
|
Oct. 01, 2011
Prepaid Expenses And Other Current Assets [Member]
|
Sep. 29, 2012
Other Current Liabilities [Member]
|
Dec. 31, 2011
Other Current Liabilities [Member]
|
Oct. 01, 2011
Other Current Liabilities [Member]
|
|
| Derivatives, Fair Value [Line Items] | ||||||||||
| Notional Amount of Foreign Currency Derivatives | $ 8,000,000 | $ 8,000,000 | ||||||||
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 2,100,000 | 3,800,000 | ||||||||
| Accretion Expense | 1,100,000 | 1,000,000 | 2,883,000 | 1,020,000 | ||||||
| Derivatives asset, fair value | 0 | 600,000 | 1,100,000 | |||||||
| Derivative liabilities, fair value | 100,000 | 0 | 0 | |||||||
| Foreign Currency Contracts, Liability, Fair Value Disclosure | $ 100,000 | $ 100,000 | ||||||||
| X | ||||||||||
|
- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of any change, including any differences arising upon settlement, recognized during the reporting period in the value of a liability, arising from an item of contingent consideration, assumed in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of the gross assets less the gross liabilities of a derivative asset or group of derivative assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value as of the balance sheet date of the gross assets less the gross liabilities of a derivative liability or group of derivative liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of foreign currency exchange rate derivatives. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
FAIR VALUE MEASUREMENTS (Income Statement Disclosures) (Details) (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
|
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gains (losses) recognized in earnings | $ 249,000 | $ 88,000 | $ 150,000 | $ 319,000 |
| Gain related to the mark-to-market of open foreign currency exchange contracts | 400,000 | (800,000) | ||
| Maximum maturity of foreign currency derivatives (in months) | 12 | |||
| Notional Amount of Foreign Currency Derivatives | 8,000,000 | 8,000,000 | ||
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 2,100,000 | 3,800,000 | ||
| Accretion Expense | 1,100,000 | 1,000,000 | 2,883,000 | 1,020,000 |
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability Foreign Currency Translation Adjustment | 1,000,000 | 900,000 | ||
| Gain On Foreign Denominated Payables | 600,000 | 1,000,000 | ||
| Foreign Currency Contracts, Liability, Fair Value Disclosure | 100,000 | 100,000 | ||
|
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Foreign Currency Gain (Loss) [Member]
|
||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gains (losses) recognized in earnings | $ (356,000) | $ 1,549,000 | $ (860,000) | $ 1,780,000 |
| X | ||||||||||
|
- Definition
This element represents the amount of foreign currency translation recognized during the reporting period related to contingent the consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Gain (loss) associated with foreign denominated payables. No definition available.
|
| X | ||||||||||
|
- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the amount of any change, including any differences arising upon settlement, recognized during the reporting period in the value of a liability, arising from an item of contingent consideration, assumed in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents contracts related to the exchange of different currencies, including foreign currency options, forward (delivery or nondelivery) contracts, and swaps entered into and existing as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The difference between the book value and the sale price of options, swaps, futures, forward contracts, and other derivative instruments. This element refers to the gain (loss) included in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum length of time over which the entity is hedging its exposure to the variability in future cash flows for forecasted transactions, excluding those forecasted transactions related to the payment of variable interest on existing financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of foreign currency exchange rate derivatives. Notional amount refers to the number of currency units specified in the foreign currency derivative contract. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EMPLOYEE BENEFIT PLANS (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
|
|
Postretirement Benefit Plans [Member]
|
||||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
| Service cost - benefits attributed to service during the period | $ 17 | $ 18 | $ 51 | $ 54 |
| Interest cost | 53 | 106 | 159 | 318 |
| Amortization of net actuarial gain (loss) | (18) | (5) | (54) | (15) |
| Total net periodic (benefit) cost | 52 | 119 | 156 | 357 |
|
Supplemental Employee Retirement Plans [Member]
|
||||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
| Interest cost | 20 | 7 | 60 | 23 |
|
Pension Plans [Member]
|
||||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
| Interest cost | 597 | 614 | 1,791 | 1,841 |
| Expected return on assets | (713) | (779) | (2,139) | (2,335) |
| Amortization of net actuarial gain (loss) | 178 | 1 | 533 | 1 |
| Total net periodic (benefit) cost | $ 62 | $ (164) | $ 185 | $ (493) |
| X | ||||||||||
|
- Definition
The amount of gains or losses recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
COMMON STOCK (Details) (USD $)
In Millions, except Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | 67 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Aug. 13, 2010
|
Jun. 15, 2010
|
Feb. 16, 2007
|
|
| Class of Stock [Line Items] | |||||||
| Share repurchase authorization amount | $ 100 | $ 100 | |||||
| Stock repurchased and retired | 100 | ||||||
| Cost of repurchased and retired shares | 141.1 | ||||||
| Average price of repurchased and retired shares | $ 21.19 | ||||||
| Issuance of common stock (in shares) | 21,708 | 21,708 | 38,520 | ||||
| Stock Granted During Period, Value, Share-based Compensation, Gross | $ 1.1 | $ 1.2 | |||||
| Stock Repurchased During Period, Shares (in shares) | 6,658,410 | ||||||
|
Share distribution to non-management directors 1 [Member]
|
|||||||
| Class of Stock [Line Items] | |||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 49.76 | $ 30.38 | |||||
| X | ||||||||||
|
- Definition
The cumulative value of stock that has been repurchased and retired as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
Shares issued to non management board members. No definition available.
|
| X | ||||||||||
|
- Definition
The amount authorized by an entity's Board of Directors under a stock repurchase plan. No definition available.
|
| X | ||||||||||
|
- Definition
Stock repurchased and retired during the period value No definition available.
|
| X | ||||||||||
|
- Definition
The cumulative cost of shares repurchased divided by the cumulative number of shares repurchased. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross value of stock (or other type of equity) granted during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP). This element is not the recognition of equity-based compensation expense in pursuant to FAS 123R. That element is AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue (Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Value). No definition available.
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
STOCK-BASED COMPENSATION (Details) (USD $)
|
3 Months Ended | 9 Months Ended |
|---|---|---|
|
Sep. 29, 2012
|
Sep. 29, 2012
|
|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
| Volatility | 34.80% | |
| Risk-free interest rate | 1.37% | |
| Expected term (years) | 5.9 | |
| Dividend yield | 0.00% | |
| Time-based stock options [Abstract] | ||
| Exercised (in shares) | (166,600) | |
| Restricted stock [Abstract] | ||
| Weighted-average Black-Scholes fair value | $ 15.16 | |
| 2012 | $ 3,069,000 | |
| 2013 | 10,850,000 | |
| 2014 | 8,850,000 | |
| 2015 | 4,834,000 | |
| Total | 27,603,000 | |
|
Employee Stock Option [Member]
|
||
| Time-based stock options [Abstract] | ||
| Outstanding, beginning balance (in shares) | 1,992,700 | |
| Granted (in shares) | 5,400 | 351,000 |
| Exercised (in shares) | (166,600) | |
| Forfeited (in shares) | (18,250) | |
| Expired (in shares) | 0 | |
| Outstanding, ending balance (in shares) | 2,158,850 | 2,158,850 |
| Exercisable, end of period (in shares) | 1,222,286 | 1,222,286 |
| Restricted stock [Abstract] | ||
| Weighted-average Black-Scholes fair value | $ 18.11 | $ 15.16 |
| Weighted-average exercise price | $ 52.63 | $ 42.81 |
| Stock-based compensation expense | 2,800 | 732,000 |
| 2012 | 1,013,000 | |
| 2013 | 3,554,000 | |
| 2014 | 2,597,000 | |
| 2015 | 1,454,000 | |
| Total | 8,618,000 | |
|
Restricted Stock [Member]
|
||
| Restricted stock [Abstract] | ||
| Outstanding, beginning balance (in shares) | 617,401 | |
| Granted (in shares) | 2,700 | 327,500 |
| Vested restricted stock (in shares) | (165,211) | |
| Forfeited (in shares) | (9,000) | |
| Outstanding, ending balance (in shares) | 770,690 | 770,690 |
| Stock-based compensation expense | 4,000 | 2,100,000 |
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 52.63 | $ 42.72 |
| 2012 | 2,056,000 | |
| 2013 | 7,296,000 | |
| 2014 | 6,253,000 | |
| 2015 | 3,380,000 | |
| Total | $ 18,985,000 | |
|
Performance-based Restricted Stock Awards to the CEO [Member]
|
||
| Restricted stock [Abstract] | ||
| Granted (in shares) | 100,000 | |
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.61 | |
|
Performance-based Restricted Stock Awards [Member]
|
||
| Restricted stock [Abstract] | ||
| Granted (in shares) | 52,000 | |
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.61 |
| X | ||||||||||
|
- Definition
Unrecognized stock-based compensation expense expected to be recognized during year one of the three succeeding fiscal years. No definition available.
|
| X | ||||||||||
|
- Definition
Unrecognized stock-based compensation expense expected to be recognized during year three of the three succeeding fiscal years. No definition available.
|
| X | ||||||||||
|
- Definition
Unrecognized stock-based compensation expense expected to be recognized during year two of the three succeeding fiscal years. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average price during the period at which grantees can acquire the shares reserved for issuance on stock options awarded under the plan during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate estimated unrecognized stock-based compensation expense expected to be recognized through the remainder of the year and in the succeeding three fiscal years. No definition available.
|
| X | ||||||||||
|
- Definition
Unrecognized stock-based compensation expense expected to be recognized for remainder of the year. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period of time an equity-based award is expected to be outstanding. An equity-based award's expected term is generally determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The decrease in the number of shares that could be issued attributable to the lapse of rights to exercise previously issued stock options under the terms of the option agreements under the plan during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
SEGMENT INFORMATION (Details) (USD $)
|
3 Months Ended | 9 Months Ended | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
|||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | $ 668,657,000 | $ 639,617,000 | $ 1,692,481,000 | $ 1,503,105,000 | ||||||||||||||||||
| Percentage of total net sales | 100.00% | 100.00% | 100.00% | 100.00% | ||||||||||||||||||
| Operating income (loss) | 95,392,000 | 56,765,000 | 183,619,000 | 132,421,000 | ||||||||||||||||||
| Operating income (loss) as percentage of segment net sales | 14.30% | 8.90% | 10.80% | 8.80% | ||||||||||||||||||
| Corporate Expenses | (22,909,000) | [1],[2] | (12,489,000) | [1],[3] | (57,875,000) | [1],[2] | (37,501,000) | [1],[3] | ||||||||||||||
| Corporate expense as percentage of segment net sales | (3.40%) | [1] | (2.00%) | [1] | (3.40%) | [1] | (2.50%) | [1] | ||||||||||||||
| Amortization of Bonnie Togs inventory step-up | 5,900,000 | 0 | 5,944,000 | |||||||||||||||||||
| Business Exit Costs | 800,000 | 2,600,000 | ||||||||||||||||||||
| Restructuring Charges | 402,000 | 372,000 | 1,052,000 | 100,000 | ||||||||||||||||||
| Other Restructuring Costs | 100,000 | |||||||||||||||||||||
| Professional Fees | 100,000 | 2,300,000 | ||||||||||||||||||||
| Accretion Expense | 1,100,000 | 1,000,000 | 2,883,000 | 1,020,000 | ||||||||||||||||||
|
Customer Concentration Risk [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Concentration Risk, Percentage | 10.00% | 10.00% | 10.00% | 10.00% | ||||||||||||||||||
| Number of customers accounted for more than ten percent of consolidated revenue | 0 | 0 | 0 | 0 | ||||||||||||||||||
|
Operating Segments [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Operating income (loss) | 118,301,000 | 69,254,000 | 241,494,000 | 169,922,000 | ||||||||||||||||||
| Operating income (loss) as percentage of segment net sales | 17.70% | 10.80% | 14.30% | 11.30% | ||||||||||||||||||
|
International [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | 69,435,000 | [4] | 59,400,000 | [4] | 153,434,000 | [4] | 81,970,000 | [4] | ||||||||||||||
| Percentage of total net sales | 10.40% | [4] | 9.30% | [4] | 9.10% | [4] | 5.50% | [4] | ||||||||||||||
| Operating income (loss) | 16,643,000 | [4],[5] | 7,934,000 | [4] | 30,371,000 | [4],[5] | 16,519,000 | [4] | ||||||||||||||
| Operating income (loss) as percentage of segment net sales | 24.00% | [4] | 13.40% | [4] | 19.80% | [4] | 20.20% | [4] | ||||||||||||||
|
Carter's [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | 492,876,000 | 473,273,000 | 1,283,349,000 | 1,168,309,000 | ||||||||||||||||||
| Percentage of total net sales | 73.70% | 74.00% | 75.80% | 77.70% | ||||||||||||||||||
| Operating income (loss) | 96,334,000 | 59,113,000 | 223,035,000 | 162,749,000 | ||||||||||||||||||
| Operating income (loss) as percentage of segment net sales | 19.50% | 12.50% | 17.40% | 13.90% | ||||||||||||||||||
|
Carter's [Member] | Wholesale [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | 275,577,000 | 288,775,000 | 719,585,000 | 703,028,000 | ||||||||||||||||||
| Percentage of total net sales | 41.20% | 45.10% | 42.50% | 46.70% | ||||||||||||||||||
| Operating income (loss) | 53,284,000 | 33,023,000 | 129,500,000 | 90,603,000 | ||||||||||||||||||
| Operating income (loss) as percentage of segment net sales | 19.30% | 11.40% | 18.00% | 12.90% | ||||||||||||||||||
|
Carter's [Member] | Retail [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | 217,299,000 | [6] | 184,498,000 | [6] | 563,764,000 | [6] | 465,281,000 | [6] | ||||||||||||||
| Percentage of total net sales | 32.50% | [6] | 28.90% | [6] | 33.30% | [6] | 31.00% | [6] | ||||||||||||||
| Operating income (loss) | 43,050,000 | [6] | 26,090,000 | [6] | 93,535,000 | [6] | 72,146,000 | [6] | ||||||||||||||
| Operating income (loss) as percentage of segment net sales | 19.80% | [6] | 14.10% | [6] | 16.60% | [6] | 15.50% | [6] | ||||||||||||||
|
OshKosh [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | 106,346,000 | 106,944,000 | 255,698,000 | 252,826,000 | ||||||||||||||||||
| Percentage of total net sales | 15.90% | 16.70% | 15.10% | 16.80% | ||||||||||||||||||
| Operating income (loss) | 5,324,000 | 2,207,000 | (11,912,000) | (9,346,000) | ||||||||||||||||||
| Operating income (loss) as percentage of segment net sales | 5.00% | 2.10% | (4.70%) | (3.70%) | ||||||||||||||||||
|
OshKosh [Member] | Wholesale [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | 28,276,000 | 26,472,000 | 61,339,000 | 61,248,000 | ||||||||||||||||||
| Percentage of total net sales | 4.20% | 4.10% | 3.60% | 4.10% | ||||||||||||||||||
| Operating income (loss) | 1,927,000 | 513,000 | 1,507,000 | 81,000 | ||||||||||||||||||
| Operating income (loss) as percentage of segment net sales | 6.80% | 1.90% | 2.50% | 0.10% | ||||||||||||||||||
|
OshKosh [Member] | Retail [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Net sales | 78,070,000 | [6] | 80,472,000 | [6] | 194,359,000 | [6] | 191,578,000 | [6] | ||||||||||||||
| Percentage of total net sales | 11.70% | [6] | 12.60% | [6] | 11.50% | [6] | 12.70% | [6] | ||||||||||||||
| Operating income (loss) | 3,397,000 | [6] | 1,694,000 | [6] | (13,419,000) | [6] | (9,427,000) | [6] | ||||||||||||||
| Operating income (loss) as percentage of segment net sales | 4.40% | [6] | 2.10% | [6] | (6.90%) | [6] | (4.90%) | [6] | ||||||||||||||
|
Facility Closing [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Restructuring Accelerated Depreciation | 400,000 | 800,000 | ||||||||||||||||||||
|
Employee Severance [Member]
|
||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||
| Severance Costs | $ 347,000 | $ 302,000 | $ 1,052,000 | $ 1,700,000 | ||||||||||||||||||
|
||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Corporate expense as percentage of total net sales. No definition available.
|
| X | ||||||||||
|
- Definition
Corporate expenses generally include expenses related to incentive compensation , stock-based compensation, executive management, severance and relocation, finance, building occupancy, information technology, certain legal fees, consulting, and audit fees during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Amortization of the fair value step-up of inventory acquired in a business combination. No definition available.
|
| X | ||||||||||
|
- Definition
Number of customers accounted for more than ten percent of the consolidated revenue. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of segment's operating income to total net sales from the sale of goods as of period end. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of net product revenue to total net revenue from the sale of goods for the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
Accelerated depreciation charges related to the closure of a facility. No definition available.
|
| X | ||||||||||
|
- Definition
Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period, comprised of costs incurred associated with an exit or disposal activity other than for a discontinued operations as defined under generally accepted accounting principles. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period, comprised of costs associated with restructuring activities not otherwise specified in the taxonomy pursuant to a duly authorized plan, excluding a discontinued operation as defined by generally accepted accounting principles. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, but excludes costs associated with the retirement of a long-lived asset and severance costs associated with established compensation plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount charged against earnings in the period for incurred and estimated costs associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
EARNINGS PER SHARE (Details) (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
|
| Weighted-average number of common and common equivalent shares outstanding [Abstract] | ||||
| Basic number of common shares outstanding (in shares) | 58,267,398 | 57,729,572 | 58,175,125 | 57,366,529 |
| Dilutive effect of unvested restricted stock awards (in shares) | 189,203 | 121,633 | 179,816 | 108,577 |
| Dilutive effect of stock options (in shares) | 693,526 | 464,846 | 663,749 | 599,805 |
| Diluted number of common and common equivalent shares outstanding (in shares) | 59,150,127 | 58,316,051 | 59,018,690 | 58,074,911 |
| Basic net income per common share [Abstract] | ||||
| Net income | $ 59,378,000 | $ 34,449,000 | $ 112,458,000 | $ 79,231,000 |
| Income allocated to participating securities | (775,127) | (384,738) | (1,470,338) | (890,416) |
| Net income available to common shareholders | 58,602,873 | 34,064,262 | 110,987,662 | 78,340,584 |
| Basic net income per common share (in dollars per share) | $ 1.01 | $ 0.59 | $ 1.91 | $ 1.37 |
| Diluted net income per common share [Abstract] | ||||
| Net income | 59,378,000 | 34,449,000 | 112,458,000 | 79,231,000 |
| Income allocated to participating securities | (766,127) | (381,699) | (1,453,966) | (881,305) |
| Net income available to common shareholders | $ 58,611,873 | $ 34,067,301 | $ 111,004,034 | $ 78,349,695 |
| Diluted net income per common share (in dollars per share) | $ 0.99 | $ 0.58 | $ 1.88 | $ 1.35 |
| Anti-dilutive shares (in shares) | 573,550 | 963,925 | 598,250 | 963,925 |
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of stock options using the treasury stock method. No definition available.
|
| X | ||||||||||
|
- Definition
Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of unvested restricted stock and restricted stock units using the treasury stock method. No definition available.
|
| X | ||||||||||
|
- Definition
Earnings allocated (not distributed) to participating securities under the two-class method to the extend that participating securities may share in earnings as if all of the earnings for the period had been distributed. No definition available.
|
| X | ||||||||||
|
- Definition
Earnings allocated (not distributed) to participating securities under the two-class method to the extend that participating securities may share in earnings as if all of the earnings for the period had been distributed. No definition available.
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
FACILITY CLOSURE (Details) (USD $)
|
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Sep. 29, 2012
|
Dec. 31, 2011
|
|
| Restructuring Cost and Reserve [Line Items] | |||||
| Number of employees affected by closure | 210 | ||||
| Restructuring and related costs, costs recorded | $ 402,000 | $ 372,000 | $ 1,052,000 | $ 100,000 | |
| Restructuring Reserve, Settled with Cash | (70,000) | 0 | 0 | ||
| Salvage value of facility | 2,000,000 | 2,000,000 | |||
|
Facility Closing [Member]
|
|||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring costs, accelerated depreciation | 400,000 | 800,000 | |||
| Restructuring Reserve | 1,756,000 | 1,424,000 | 1,052,000 | 1,756,000 | 0 |
|
Employee Severance [Member]
|
|||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring costs, severance costs | 347,000 | 302,000 | 1,052,000 | 1,700,000 | |
| Restructuring Reserve | 1,701,000 | 1,354,000 | 1,052,000 | 1,701,000 | 0 |
| Restructuring Reserve, Settled with Cash | 0 | 0 | 0 | ||
|
One-time Termination Benefits [Member]
|
|||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Expected additional closure-related charges | 900,000 | ||||
| Expected additional closure-related charges, in 2012 | 300,000 | ||||
| Expected additional closure-related charges, in 2013 | 600,000 | ||||
|
Accelerated Depreciation [Member]
|
|||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Expected additional closure-related charges | 900,000 | ||||
| Expected additional closure-related charges, in 2012 | 400,000 | ||||
| Expected additional closure-related charges, in 2013 | 500,000 | ||||
|
Other Closure Costs [Member]
|
|||||
| Restructuring Cost and Reserve [Line Items] | |||||
| Restructuring and related costs, costs recorded | 55,000 | 70,000 | 0 | ||
| Restructuring Reserve | 55,000 | 70,000 | 0 | 55,000 | 0 |
| Restructuring Reserve, Settled with Cash | (70,000) | 0 | 0 | ||
| Expected additional closure-related charges | $ 1,000,000 | ||||
| X | ||||||||||
|
- Definition
Accelerated depreciation charges related to the closure of a facility. No definition available.
|
| X | ||||||||||
|
- Definition
Amount expected to be charged against earnings in the current and future periods for the specified restructuring cost, within the next fiscal year. No definition available.
|
| X | ||||||||||
|
- Definition
Amount expected to be charged against earnings in the current and future periods for the specified restructuring cost, in two fiscal years. No definition available.
|
| X | ||||||||||
|
- Definition
The estimated or actual value of the asset at the end of its useful life or when it is no longer serviceable (cannot be used for its original purpose). No definition available.
|
| X | ||||||||||
|
- Definition
Amount expected to be charged against earnings in the current and future periods for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of positions eliminated during the period as a result of restructuring activities. No definition available.
|
| X | ||||||||||
|
- Definition
Amount charged against earnings in the period for incurred and estimated costs associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash paid in the period to fully or partially settle a specified, previously accrued type of restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Subsequent Event (Details) (Restructuring Activities [Member], USD $)
In Millions, unless otherwise specified |
0 Months Ended |
|---|---|
|
Oct. 11, 2012
|
|
| Subsequent Event [Line Items] | |
| Estimated pre-tax consolidation-related expenses | $ 5.0 |
| Expected pre-tax consolidation-related expenses to be settled with cash | 34 |
| Non-cash accelerated depreciation expense | 3 |
|
Recruiting and Relocation [Member]
|
|
| Subsequent Event [Line Items] | |
| Estimated pre-tax consolidation-related expenses | 13.0 |
|
Employee Severance and Other Benefit Costs [Member]
|
|
| Subsequent Event [Line Items] | |
| Estimated pre-tax consolidation-related expenses | 10.0 |
|
Lease Related Charges [Member]
|
|
| Subsequent Event [Line Items] | |
| Estimated pre-tax consolidation-related expenses | 6.0 |
|
Minimum [Member]
|
|
| Subsequent Event [Line Items] | |
| Estimated pre-tax consolidation-related expenses | 35.0 |
|
Maximum [Member]
|
|
| Subsequent Event [Line Items] | |
| Estimated pre-tax consolidation-related expenses | $ 40.0 |
| X | ||||||||||
|
- Definition
Restructuring Reserve, Expected Accelerated Depreciation No definition available.
|
| X | ||||||||||
|
- Definition
Restructuring Reserve, Expected To Be Settled With Cash No definition available.
|
| X | ||||||||||
|
- Definition
Amount expected to be charged against earnings in the current and future periods for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|