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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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Oct. 29, 2012
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| Entity Information [Line Items] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Sep. 29, 2012 | |
| Document Fiscal Year Focus | 2012 | |
| Document Fiscal Period Focus | Q3 | |
| Trading Symbol | UACL | |
| Entity Registrant Name | Universal Truckload Services, Inc. | |
| Entity Central Index Key | 0001308208 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Filer Category | Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 30,018,286 |
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- Definition
If the value is true, then the document is 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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- 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, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "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 or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [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, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. 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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- Details
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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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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
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- Definition
Carrying amount of accrued known and estimated losses incurred as of the balance sheet date for which a claim has been made or is probable of being asserted. No definition available.
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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
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value 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. Examples include taxes, interest, rent and utilities. 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
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. 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
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. 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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- 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
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. 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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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances 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
Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). 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 of obligations due all related parties. For classified balance sheets, represents the current portion of such 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
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
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. 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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- 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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- Definition
Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for less than one year or the normal operating cycle, whichever is 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 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
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
The carrying amount of other receivables, net, due within one year of the balance sheet date (or one operating cycle, if longer) from third parties or arising from transactions not separately disclosed. No definition available.
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- Definition
The total 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, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount as of the balance sheet date of payments made in advance for income and other taxes, which 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
Gross amount of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. 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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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Unaudited Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Sep. 29, 2012
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Dec. 31, 2011
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|---|---|---|
| Allowance for doubtful accounts | $ 2,001 | $ 3,535 |
| Intangible assets, accumulated amortization | 21,489 | 19,206 |
| Common stock, par value | $ 0 | $ 0 |
| Common stock, shares authorized | 40,000,000 | 40,000,000 |
| Common stock, shares issued | 16,122,483 | 16,122,483 |
| Common stock, shares outstanding | 15,490,954 | 15,555,183 |
| Treasury Stock, at cost | 631,529 | 567,300 |
| Accumulated other comprehensive income | $ 804 | $ 1,054 |
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- Definition
Accumulated other comprehensive income, income taxes. No definition available.
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Issuance value per share of no-par value common stock; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- 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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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Unaudited Consolidated Statements of Income (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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| Operating revenues: | ||||
| Truckload | $ 108,241 | $ 110,896 | $ 322,342 | $ 319,007 |
| Brokerage | 44,048 | 48,588 | 136,463 | 127,558 |
| Intermodal | 31,032 | 28,062 | 85,419 | 78,572 |
| Total operating revenues | 183,321 | 187,546 | 544,224 | 525,137 |
| Operating expenses: | ||||
| Purchased transportation | 140,021 | 144,413 | 416,894 | 404,503 |
| Commissions expense | 10,527 | 10,974 | 31,152 | 31,555 |
| Other operating expense | 3,895 | 3,519 | 12,138 | 10,458 |
| Selling, general, and administrative | 13,923 | 13,116 | 42,180 | 39,062 |
| Insurance and claims | 4,181 | 4,155 | 12,231 | 12,481 |
| Depreciation and amortization | 2,977 | 2,947 | 8,943 | 8,715 |
| Total operating expenses | 175,524 | 179,124 | 523,538 | 506,774 |
| Income from operations | 7,797 | 8,422 | 20,686 | 18,363 |
| Interest income | 18 | 13 | 45 | 61 |
| Interest expense | (12) | (9) | (26) | (13) |
| Other non-operating income | 1,186 | 233 | 2,359 | 1,391 |
| Income before provision for income taxes | 8,989 | 8,659 | 23,064 | 19,802 |
| Provision for income taxes | 3,477 | 3,224 | 8,956 | 7,533 |
| Net income | $ 5,512 | $ 5,435 | $ 14,108 | $ 12,269 |
| Earnings per common share: | ||||
| Basic | $ 0.36 | $ 0.35 | $ 0.91 | $ 0.79 |
| Diluted | $ 0.36 | $ 0.35 | $ 0.91 | $ 0.79 |
| Weighted average number of common shares outstanding: | ||||
| Basic | 15,491 | 15,574 | 15,507 | 15,607 |
| Diluted | 15,491 | 15,574 | 15,507 | 15,607 |
| Dividends paid per common share | $ 1.00 | $ 1.00 | $ 1.00 | |
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- Definition
Revenue from transporting cargo and freight between locations by contracting third party transportation providers, international freight forwarding, customs house brokerage and third-party logistic services. No definition available.
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- Definition
Revenue from transporting rail and steamship containers between the railhead or port and the customer, as well as drayage services. No definition available.
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| X | ||||||||||
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- Definition
The cost of purchased transportation and transportation-related services of third party capacity providers of various modes transportation during the period. No definition available.
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- Definition
Revenue from transporting cargo and freight between locations via dedicated truck and trailer to one customer from origin to destination. No definition available.
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. 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 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
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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- 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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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. 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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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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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
Insurance and claims costs directly related to goods produced and sold, or services rendered, during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. 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
Primarily represents commissions incurred in the period based upon the sale by commissioned employees or third parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by third parties (such as a distributor or value added reseller). 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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| X | ||||||||||
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- 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
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- Details
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| X | ||||||||||
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- 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
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Unaudited Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
|
| Net income | $ 5,512 | $ 5,435 | $ 14,108 | $ 12,269 |
| Other comprehensive income (loss): | ||||
| Unrealized holding gains (losses) on available-for sale investments arising during the period, net of income tax | 279 | (1,633) | 824 | (1,042) |
| Realized gains on available-for-sale investments reclassified into income, net of income tax | (634) | (52) | (1,165) | (568) |
| Net gain (loss) recognized in other comprehensive income | (355) | (1,685) | (341) | (1,610) |
| Total comprehensive income | $ 5,157 | $ 3,750 | $ 13,767 | $ 10,659 |
| 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 economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including 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
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. 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
Net of tax amount of the income statement impact of the reclassification adjustment for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Acquisition obligations. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Definition
Increase Decrease In Insurance Claims And Reserves No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- 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 | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The fair value of assets acquired in noncash investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- 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
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in current receivables (due within one year or one operating cycle) to be collected from an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. 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
The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
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| X | ||||||||||
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- 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 | ||||||||||
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from financing activity for the period. 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
The net cash inflow or outflow from investing activity. 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
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 | ||||||||||
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- Details
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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 cash outflow associated with other payments to acquire businesses including deposit on pending acquisitions and preacquisition costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow from purchases of trading, available-for-sale securities and held-to-maturity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- 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 | ||||||||||
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- 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
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| X | ||||||||||
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- Definition
The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| 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
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| X | ||||||||||
|
- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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|
Unaudited Consolidated Statements of Cash Flows (Parenthetical) (USD $)
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9 Months Ended |
|---|---|
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Oct. 01, 2011
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| Forgiveness of loan from County of Cuyahoga | $ 90,000 |
| X | ||||||||||
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- Definition
Decrease for amounts of indebtedness forgiven by the holder of the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Basis of Presentation
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9 Months Ended | |||
|---|---|---|---|---|
|
Sep. 29, 2012
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| Basis of Presentation |
Pursuant to the rules and regulations of the Securities and Exchange Commission, the accompanying unaudited consolidated financial statements of Universal Truckload Services, Inc. and its wholly owned subsidiaries, or the Company or UTSI, have been prepared by the Company’s management. In the opinion of management, the unaudited consolidated financial statements include all normal recurring adjustments necessary to present fairly the information required to be set forth therein. All intercompany transactions and balances have been eliminated in consolidation. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, should be read in conjunction with the consolidated financial statements as of December 31, 2011 and 2010 and for each of the years in the three-year period ended December 31, 2011 included in the Company’s Form 10-K filed with the Securities and Exchange Commission. The preparation of the consolidated financial statements requires the use of management’s estimates. Actual results could differ from those estimates. As discussed in our critical accounting policies in the Company’s Form 10-K, the Company has historically recognized a liability for the estimated cost of all self-insured claims and for claims expected to exceed our insurance policy limits. This resulted in a net presentation for claims which were not expected to exceed our policy limits. In the third quarter of 2012, the Company has corrected this presentation to separately present the claims liability and related insurance recovery in its balance sheet. As of September 29, 2012 and December 31, 2011, the insurance claims liability and related recovery was $13.3 million and $12.3 million, respectively, and has been recorded in insurance and claims, and other receivables in the unaudited consolidated balance sheets. The Company evaluated the effects of this correction on the prior period’s consolidated financial statements in accordance with guidance provided by ASC Topic 250, Accounting Changes and Error Corrections, and concluded the effects were not material. The Company has made adjustments to its consolidated financial statements, presented herein, as of and for the period ended September 29, 2012 and December 31, 2011 to reflect the immaterial correction. The Company’s fiscal year ends on December 31. The Company’s fiscal year consists of four quarters, each with thirteen weeks. Certain immaterial reclassifications have been made to the prior financial statements in order for them to conform to the September 29, 2012 presentation. |
| X | ||||||||||
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Transactions with CenTra and Affiliates
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Transactions with CenTra and Affiliates |
Through December 31, 2004, UTSI was a wholly owned subsidiary of CenTra, Inc., or CenTra. On December 31, 2004, CenTra distributed all of UTSI’s common stock to the sole shareholders of CenTra, Matthew T. Moroun and a trust controlled by Manuel J. Moroun, collectively the Morouns. Subsequent to the initial public offering in 2005, the Morouns retained and continue to hold a controlling interest in UTSI. CenTra provides management services to UTSI, including legal, human resources, and tax services. The cost of these services is based on the estimated utilization of the specific services and is allocated to the Company. Management believes the allocation method is reasonable. However, the costs of these services charged to UTSI are not necessarily indicative of the costs that would have been incurred if UTSI had internally performed or acquired these services as a separate unaffiliated entity.
In addition to the management services described above, UTSI purchases other services from CenTra and affiliates, including leased real estate, maintenance, insurance and employee benefits. Following is a schedule of the costs incurred by UTSI for services provided by CenTra and affiliates. The amounts charged to UTSI for the thirteen weeks and thirty-nine weeks ended September 29, 2012 and October 1, 2011 are presented in the table below (in thousands):
Operating revenues from freight services provided to CenTra for the thirteen and thirty-nine weeks ended September 29, 2012 were $652,000 and $787,000. Operating revenues from freight services provided to CenTra for the thirteen and thirty-nine weeks ended October 1, 2011 were $97,000 and $834,000. During the thirteen and thirty-nine ended September 29, 2012, the Company charged CenTra approximately $9,000 and $39,000, respectively, for vehicle maintenance services performed during the period. For the thirteen and thirty-nine weeks ended October 1, 2011, the Company charged CenTra approximately $77,000 and $227,000, respectively, for such services during the period. As of September 29, 2012 and December 31, 2011, amounts due from CenTra and affiliates were $1,505,000 and $340,000, respectively. As of September 29, 2012, amounts due to CenTra and affiliates were $668,000. The Company also retained the law firm of Sullivan Hincks & Conway to provide legal services during the period. Daniel C. Sullivan, a member of our Board, is a partner at Sullivan Hincks & Conway. Amounts paid for legal services during the thirteen and thirty-nine weeks ended September 29, 2012 were $31,000 and $144,000, respectively. Amount paid for legal services during the thirteen and thirty-nine weeks ended October 1, 2011 was $60,000 and $293,000, respectively. On October 1, 2012, the Company also completed the acquisition of LINC Logistics Company (“LINC”). The Morouns beneficially owned, in the aggregate, 100% of the common stock of LINC (see Note 12). |
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| X | ||||||||||
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Debt
|
9 Months Ended | |||
|---|---|---|---|---|
|
Sep. 29, 2012
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| Debt |
On August 30, 2012, the Company entered into a Revolving Credit and Term Loan Agreement, or the Credit Agreement, with and among the lenders parties thereto and Comerica Bank, as administrative agent, to provide for aggregate borrowing facilities of up to $220 million. Initial advances made under the Credit Agreement are subject to, among other things, the satisfaction of all conditions to closing in connection with the merger with LINC Logistics Company, or LINC. The Credit Agreement consists of a $110 million revolving credit facility (which amount may be increased by up to $20 million upon request of the Company and approval of the lenders), a $60 million equipment credit facility, and a $50 million term loan. Additionally, the Credit Agreement provides for up to $5 million in letters of credit, which letters of credit reduce availability under the revolving credit facility. Borrowings under the revolving credit facility may be made until, and mature on, August 28, 2017. Borrowings under the equipment credit facility may be made until August 28, 2015 and such borrowings made in any year shall be repaid in 28 quarterly installments beginning on April 1 of the year after the applicable borrowing was made. Borrowings under the term loan facility shall mature on August 28, 2017. Borrowings under the Credit Agreement bear interest at LIBOR or a base rate, plus an applicable margin for each. The applicable margin fluctuates based on the Company’s total debt to EBITDA ratio, as defined in the Credit Agreement.
The Credit Agreement requires the Company to repay the borrowings made under the term loan facility and the equipment credit facility as follows: 50% (which percentage shall be reduced to 0% subject to the Company attaining a certain leverage ratio) of the Company’s annual excess cash flow; 100% of net cash proceeds of certain asset sales; and 100% of certain insurance and condemnation proceeds. The Company may voluntarily repay outstanding loans under each of the facilities at any time, subject to certain customary “breakage” costs with respect to LIBOR-based borrowings. In addition, the Company may elect to permanently terminate or reduce all or a portion of the revolving credit facility. All obligations under the Credit Agreement are unconditionally guaranteed by the Company’s material U.S. subsidiaries and the obligations of the Company and such subsidiaries under the Credit Agreement and such guarantees are secured by, subject to certain exceptions, substantially all of their assets. The Credit Agreement includes financial covenants requiring the Company to maintain maximum leverage ratios and a minimum fixed charge coverage ratio, as well as customary affirmative and negative covenants and events of default. As of September 29, 2012, the Company did not have any amounts outstanding or letters of credit issued under the Credit Agreement as the merger with LINC remained pending. On October 24, 2011, the Company and KeyBank entered into a Change in Terms Agreement to the Amended and Restated Loan Agreement and Promissory Note dated October 25, 2010, collectively referred to as the Key Loan Agreement, whereby the maturity date of the existing Amended and Restated Loan Agreement and Promissory Note was extended to October 23, 2012. Under the Key Loan Agreement, the Company’s maximum permitted borrowings and letters of credit may not exceed $20 million in the aggregate. The line of credit was unsecured and bore interest at a rate equal to the lesser of the Prime Rate minus 0.50% or LIBOR plus 1.00% (effective rate of 1.22% at September 29, 2012). The Key Loan Agreement contains various financial and restrictive covenants to be maintained by the Company including requirements to maintain a tangible net worth of at least $85 million, a debt to tangible net worth ratio not to exceed 1 to 1, and quarterly net profits of at least one dollar. For purposes of the Key Loan Agreement, tangible net worth is defined as total assets, excluding all intangible assets, less total debt. The Key Loan Agreement also may, in certain circumstances, limit our ability to pay dividends or distributions utilizing our line of credit. The Key Loan Agreement also contained customary representations and warranties, affirmative and negative covenants and events of default. As of September 29, 2012, the Company was in compliance with its debt covenants. The Company did not have any amounts outstanding under its line of credit at September 29, 2012 or December 31, 2011, and there were letters of credit aggregating $40,000 and $50,000 issued against the line, respectively. The Company also maintains a secured borrowing facility at UBS Financial Services, Inc., or UBS, using its marketable securities as collateral for the short-term line of credit. The line of credit bears an interest rate equal to LIBOR plus 0.85% (effective rate of 1.07% at September 29, 2012), and interest is adjusted and billed monthly. No principal payments are due on the borrowing; however, the line of credit is callable at any time. The amount available under the line of credit is based on a percentage of the market value of the underlying securities. If the equity value in the account falls below the minimum requirement, the Company must restore the equity value, or UBS may call the line of credit. The Company did not have any amounts outstanding under its line of credit at September 29, 2012 or December 31, 2011, and the maximum available borrowings under the line of credit were $5,954,000 and $8,369,000, respectively.
On May 1, 2006, UTS Realty, LLC, or Realty, a wholly owned subsidiary of the Company, received a $1,000,000 loan from the County of Cuyahoga, Ohio, or the County, to be used for improvements to its Cleveland, Ohio container storage facility. The loan agreement with the County required Realty to make quarterly interest payments at an annual rate of 5.0%. Through January 31, 2011, subject to certain conditions, the County forgave $450,000 of the principal amount owed. On January 31, 2007, the Company began recording the forgiveness as a reduction of the loan and as a reduction in the cost of the underlying improvements at a rate of $90,000 per annum. The remaining principal was due at maturity on January 31, 2011; however, in June 2010, the Company repaid $550,000 of the remaining principal balance. As of September 29, 2012 and December 31, 2011 the outstanding balance under the loan was $0. |
| X | ||||||||||
|
- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Earnings Per Share
|
9 Months Ended | |||
|---|---|---|---|---|
|
Sep. 29, 2012
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| Earnings Per Share |
Basic earnings per common share amounts are based on the weighted average number of common shares outstanding, and diluted earnings per share amounts are based on the weighted average number of common shares outstanding plus the incremental shares that would have been outstanding upon the assumed exercise of all dilutive stock options. For the thirteen and thirty-nine weeks ended September 29, 2012, the Company has no common stock equivalents; therefore, diluted earnings per share are equal to basic earnings per share. For the thirteen and thirty-nine weeks ended October 1, 2011, 187,500 options to purchase shares of common stock were excluded from the calculation of diluted earnings per share because such options were anti-dilutive. |
| X | ||||||||||
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Stock Based Compensation
|
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Stock Based Compensation |
In December 2004, the Board adopted the 2004 Stock Incentive Plan, or the Plan, which became effective upon completion of the Company’s initial public offering. The Plan allows for the issuance of a total of 500,000 shares. The grants may be made in the form of restricted stock bonuses, restricted stock purchase rights, stock options, phantom stock units, restricted stock units, performance share bonuses, performance share units or stock appreciation rights. On February 11, 2005, UTSI granted 260,000 options to certain of its employees. The stock options granted vested immediately, had a life of seven years and an exercise price of $22.50 per share. On February 10, 2012, the remaining unexercised stock options expired.
The following table summarizes the stock option activity and related information for the period indicated:
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| X | ||||||||||
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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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Comprehensive Income
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Comprehensive Income |
Comprehensive income includes the following (in thousands):
Accumulated other comprehensive income at September 29, 2012 of $1,267,000 represents the net unrealized holding gains on available–for-sale investments of $2,071,000, net of related income taxes of $804,000. At September 29, 2012, the gross unrealized holding gains and gross unrealized holding losses on available-for-sale investments were $2,418,000 and $347,000, respectively. Accumulated other comprehensive income at December 31, 2011 of $1,608,000 represents the net unrealized holding gains on available–for-sale investments of $2,662,000, net of related income taxes of $1,054,000. At December 31, 2011, the gross unrealized holding gains and gross unrealized holding losses on available-for-sale investments were $3,346,000 and $684,000, respectively. |
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| X | ||||||||||
|
- Definition
The entire disclosure for comprehensive income, which includes, but is not limited to, 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Acquisitions |
In May 2012, the Company acquired certain assets of TFX Incorporated, or TFX, based in Durham, North Carolina through a Limited Asset Purchase Agreement for approximately $1,100,000. TFX is primarily a regional provider of intermodal transportation services strategically positioned to service the primary port areas on the East Coast and the key railheads and major manufacturing centers of the Southern and Midwestern United States. As of September 29, 2012, $850,000 of the original purchase price was paid in cash. The Company used cash and cash equivalents to finance the acquisition. The remaining amount is included in accrued expenses and other current liabilities. Pursuant to the acquisition, TFX operates as part of Mason Dixon Intermodal, Inc. The pro forma effect of this acquisition has been omitted, as the effect is immaterial to the Company’s results of operations, financial position and cash flows. The allocation of the purchase price is as follows (in thousands):
The intangible assets acquired represent the acquired companies’ customer relationships and are being amortized over a period of seven years. Goodwill represents the expected synergies to be achieved through the integration of the acquired companies into UTSI, and intangible assets that do not qualify for separate accounting recognition under generally accepted accounting principles. The operating results of the acquired company have been included in the consolidated statements of income since its acquisition date; however, it has not been separately disclosed as it is deemed immaterial. |
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- 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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Fair Value Measurements
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Sep. 29, 2012
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| Fair Value Measurements |
FASB ASC Topic 820 “Fair Value Measurements and Disclosures”, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date and expanded disclosures with respect to fair value measurements. FASB ASC Topic 820 also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:
The Company has segregated all financial assets that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below (in thousands):
The valuation techniques used to measure fair value for the items in the tables above are as follows:
The carrying amount for the line of credit approximates fair value because the interest rate on the line of credit is adjusted frequently. |
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- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Marketable Securities
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Sep. 29, 2012
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| Marketable Securities |
At September 29, 2012, marketable securities, all of which are available-for-sale, consist of common stocks. Marketable securities are carried at fair value, with unrealized gains and losses, net of related income taxes, reported as accumulated other comprehensive income, except for losses from impairments which are determined to be other-than-temporary. Realized gains and losses, and declines in value judged to be other-than-temporary, on available-for-sale securities are included in the determination of net income and are included in other non-operating income (expense), at which time the average cost basis of these securities are adjusted to fair value. Fair values are based on quoted market prices at the reporting date. Interest and dividends on available-for-sale securities are included in other non-operating income (expense).
The cost, gross unrealized holding gains, gross unrealized holding losses, and fair value of available-for-sale securities by type were as follows (in thousands):
Included in equity securities at September 29, 2012 are securities with a fair value of $2,090,000 with a cumulative loss position of $347,000, the impairment of which the Company considers to be temporary. The Company considers several factors in its determination as to whether declines in value are judged to be temporary or other-than-temporary, including the severity and duration of the decline, the financial condition and near-term prospects of the specific issuers and the industries in which they operate, and the Company’s intent and ability to hold these securities. The Company may incur future impairment charges if declines in market values continue and/or worsen and impairments are no longer considered temporary. The following table shows the gross unrealized holding losses and fair value of the Company’s marketable securities that are not deemed to be other-than-temporarily impaired aggregated by type and length of time they have been in a continuous unrealized loss position at September 29, 2012 (in thousands):
The Company’s portfolio of equity securities in a continuous loss position, the impairment of which the Company considers to be temporary, consists primarily of common stocks in the banking, oil and gas, transportation industries, and steel industries. The fair value and unrealized losses are distributed in 11 publicly traded companies, with no single industry or company representing a material or concentrated unrealized loss. The Company has evaluated the near-term prospects of the various industries, as well as the specific issuers within its portfolio, in relation to the severity and duration of the impairments, and based on that evaluation, and the Company’s ability and intent to hold these investments for a reasonable period of time to allow for a recovery of fair value, the Company does not consider these investments to be other-than-temporarily impaired at September 29, 2012. The Company from time to time invests cash in excess of its current needs in marketable securities, much of which is held in equity securities, which are actively traded on public exchanges. It is the philosophy of the Company to minimize the risk of capital loss without foregoing the potential for capital appreciation through investing in value-and-income oriented investments. However, holding equity securities subjects the Company to fluctuations in the market value of its investment portfolio based on current market prices, and a drop in market prices or other unstable market conditions could cause a loss in the value of the Company’s marketable securities. |
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- Definition
Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Recent Accounting Pronouncements
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Sep. 29, 2012
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| Recent Accounting Pronouncements |
In June 2011, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2011-05, Presentation of Comprehensive Income, which eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. ASU 2011-05 became effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company has presented the total of comprehensive income, the components of net income and the components of other comprehensive income in two separate but consecutive statements as a result of the Company’s adoption of ASU 2011-05 beginning with the first quarter of 2012. In September 2011, the FASB issued ASU 2011-08, Intangibles—Goodwill and Other, which allows an entity the option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under this amendment, if the Company chooses that option, the Company would not be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. This amendment includes a number of events and circumstances for an entity to consider in conducting the qualitative assessment. ASU 2011-08 is effective for impairment tests performed during entities’ fiscal years that begin after December 15, 2011, which for the Company was the impairment test completed during the 3rd quarter of the year. The adoption of the ASU did not have a significant impact on the Company’s financial position, results of operations, or cash flows. |
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- Definition
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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Contingencies
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Sep. 29, 2012
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| Contingencies |
The Company is involved in claims and litigation arising in the ordinary course of business. These matters primarily involve claims for personal injury and property damage incurred in the transportation of freight. Based on knowledge of the facts and, in certain cases, opinions of outside counsel, the Company believes all such litigation is adequately covered by insurance or otherwise provided for and that adverse results in one or more of those cases would not have a materially adverse effect on its financial condition, operating results and cash flows. However, if the ultimate outcome of these matters, after provisions thereof, is materially different from the Company’s estimates, they could have a material effect on the Company’s operating results and cash flows in any given quarter or year. |
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- Definition
The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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Sep. 29, 2012
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| Subsequent Events |
The Company evaluated subsequent events through the time of filing this Quarterly Report on Form 10-Q. Except for the following matters, we are not aware of any significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on the Consolidated Financial Statements. Purchase of LINC On October 1, 2012, the Company completed the acquisition of LINC Logistics Company (“LINC”) whereby each outstanding share of LINC common stock was converted into the right to receive consideration consisting of 0.700 of a share of common stock of the Company and cash in lieu of fractional shares. This resulted in the issuance of 14,527,332 shares of the Company’s common stock and payment of $27.60 of cash in lieu of fractional shares. The Company and LINC were under common control, and as such, under US GAAP, the merger will be accounted for using the guidance for transactions between entities under common control as described in ASC Topic 805 – “Business Combinations”. In accordance with ASC Topic 805-30, the Company will record the recognized assets and liabilities of LINC at their carrying amounts at the date of transfer, as adjusted for any differences between such carrying amounts and the corresponding historical cost of the parent of the common control group, if applicable, and adjusted for any inconsistencies in the application of accounting methods subject to preferability. As a result, future financial statements of the Company will be retrospectively revised to reflect the accounts of LINC as if they had been consolidated for all previous periods.
LINC Logistics Company, based in Warren, Michigan, is a leading provider of custom-developed third-party logistics solutions with operations in the United States, Canada and Mexico. LINC offers a comprehensive suite of supply chain logistics services, including value-added, transportation and specialized services. LINC’s value-added logistics services include material handling and consolidation, sequencing and sub-assembling, kitting and repacking, and returnable container management. LINC also provides a broad range of transportation services, such as dedicated truckload, shuttle operations and yard management. LINC’s specialized services include air and ocean freight forwarding, expedited ground transportation and final-mile delivery. Had we acquired LINC on January 1, 2011, our pro forma revenues and net income for the thirty-nine weeks ended September 29, 2012 would have been $777.5 million and $1.13 per basic and diluted share, respectively, compared to $742.7 million and $1.00 per basic and diluted share, respectively, for the thirty-nine weeks ended October 1, 2011. In connection with the acquisition, the Company and LINC have incurred $8.3 million of transaction costs that are not included in the pro forma net income figures that will be expensed during the fourth fiscal quarter of 2012. As of September 29, 2012, $6.0 million of these costs are included in prepaid expenses and other, and accrued expenses and other current liabilities in Universal’s unaudited consolidated balance sheet. In addition, at closing we borrowed approximately $149.1 million to repay LINC’s outstanding indebtedness and dividends payable, and debt issuance costs pursuant to the new credit facility with Comerica Bank (see Note 3). Termination of KeyBank Loan Agreement and Promissory Note On October 1, 2012, the Company terminated its Amended and Restated Loan Agreement and Promissory Note with KeyBank National Association. As discussed above, the Company has entered into a new Revolving Credit and Term Loan Agreement with a group of lenders (see Note 3). Amendment to Articles of Incorporation On November 1, 2012, the Company amended its Articles of Incorporation to increase the total number of shares of authorized common stock from 40,000,000 to 100,000,000. |
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- Definition
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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Recent Accounting Pronouncements (Policies)
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9 Months Ended |
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Sep. 29, 2012
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| Reclassifications of items out of accumulated other comprehensive income | In June 2011, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2011-05, Presentation of Comprehensive Income, which eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders’ equity. ASU 2011-05 became effective retrospectively for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company has presented the total of comprehensive income, the components of net income and the components of other comprehensive income in two separate but consecutive statements as a result of the Company’s adoption of ASU 2011-05 beginning with the first quarter of 2012. |
| Intangibles-Goodwill and Other | In September 2011, the FASB issued ASU 2011-08, Intangibles—Goodwill and Other, which allows an entity the option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under this amendment, if the Company chooses that option, the Company would not be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. This amendment includes a number of events and circumstances for an entity to consider in conducting the qualitative assessment. ASU 2011-08 is effective for impairment tests performed during entities’ fiscal years that begin after December 15, 2011, which for the Company was the impairment test completed during the 3rd quarter of the year. The adoption of the ASU did not have a significant impact on the Company’s financial position, results of operations, or cash flows. |
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- Definition
Disclosure of accounting policy for goodwill. This accounting policy also may address how an entity assesses and measures impairment of goodwill, how reporting units are determined, how goodwill is allocated to such units, and how the fair values of the reporting units are determined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Transactions with CenTra and Affiliates (Tables)
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Sep. 29, 2012
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| Schedule of Amounts Charged to UTSI | The amounts charged to UTSI for the thirteen weeks and thirty-nine weeks ended September 29, 2012 and October 1, 2011 are presented in the table below (in thousands):
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Schedule Of Related Party Transactions By Related Party Table [Text Block] No definition available.
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Stock Based Compensation (Tables)
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Sep. 29, 2012
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| Summary of Stock Option Activity and Related Information | The following table summarizes the stock option activity and related information for the period indicated:
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- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Comprehensive Income (Tables)
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Sep. 29, 2012
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| Components of Comprehensive Income | Comprehensive income includes the following (in thousands):
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- Definition
Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) 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; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) 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; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) 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
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Acquisitions (Tables)
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Sep. 29, 2012
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| Allocation of Purchase Price | The allocation of the purchase price is as follows (in thousands):
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- Definition
Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements (Tables)
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Sep. 29, 2012
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| Financial Assets Measured at Fair Value on Recurring Basis |
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by 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 (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Marketable Securities (Tables)
|
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 29, 2012
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| Schedule of Cost, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses, and Fair Value of Available-for-Sale Securities | The cost, gross unrealized holding gains, gross unrealized holding losses, and fair value of available-for-sale securities by type were as follows (in thousands):
|
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| Schedule of Gross Unrealized Holding Losses and Fair Value of Marketable Securities | The following table shows the gross unrealized holding losses and fair value of the Company’s marketable securities that are not deemed to be other-than-temporarily impaired aggregated by type and length of time they have been in a continuous unrealized loss position at September 29, 2012 (in thousands):
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. No definition available.
|
|
Basis of Presentation - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
Sep. 29, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||
| Insurance claims liability and related insurance recovery | $ 13.3 | $ 12.3 |
| X | ||||||||||
|
- Definition
Gross Insurance Claims Liability No definition available.
|
| X | ||||||||||
|
- Details
|
|
Transactions with CenTra and Affiliates - Schedule of Amounts Charged to UTSI (Detail) (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
|
| Related Party Transaction [Line Items] | ||||
| Cost incurred for services provided by CenTra and affiliates | $ 5,173,000 | $ 5,001,000 | $ 15,084,000 | $ 14,773,000 |
|
Management services [Member]
|
||||
| Related Party Transaction [Line Items] | ||||
| Cost incurred for services provided by CenTra and affiliates | 256,000 | 243,000 | 773,000 | 736,000 |
|
Building and terminal rents [Member]
|
||||
| Related Party Transaction [Line Items] | ||||
| Cost incurred for services provided by CenTra and affiliates | 174,000 | 142,000 | 527,000 | 427,000 |
|
Maintenance services [Member]
|
||||
| Related Party Transaction [Line Items] | ||||
| Cost incurred for services provided by CenTra and affiliates | 83,000 | 21,000 | 176,000 | 137,000 |
|
Personal liability and property damage insurance [Member]
|
||||
| Related Party Transaction [Line Items] | ||||
| Cost incurred for services provided by CenTra and affiliates | 3,763,000 | 3,757,000 | 10,871,000 | 10,906,000 |
|
Health and other insurance [Member]
|
||||
| Related Party Transaction [Line Items] | ||||
| Cost incurred for services provided by CenTra and affiliates | $ 897,000 | $ 838,000 | $ 2,737,000 | $ 2,567,000 |
| X | ||||||||||
|
- Definition
Amount of transactions with related party during the financial reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Transactions with CenTra and Affiliates - Additional Information (Detail) (USD $)
|
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Dec. 31, 2011
|
|
| Related Party Transaction [Line Items] | |||||
| Operating revenues from freight services | $ 652,000 | $ 97,000 | $ 787,000 | $ 834,000 | |
| Amount charged to CenTra for vehicle maintenance services | 5,173,000 | 5,001,000 | 15,084,000 | 14,773,000 | |
| Due from CenTra and affiliates | 1,505,000 | 1,505,000 | 340,000 | ||
| Due to CenTra and affiliates | 668,000 | 668,000 | |||
| Amounts paid for legal services | 31,000 | 60,000 | 144,000 | 293,000 | |
| Percentage of common stock owned by shareholder | 100.00% | 100.00% | |||
|
Vehicle maintenance services [Member]
|
|||||
| Related Party Transaction [Line Items] | |||||
| Amount charged to CenTra for vehicle maintenance services | $ 9,000 | $ 77,000 | $ 39,000 | $ 227,000 | |
| X | ||||||||||
|
- Definition
Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transactions with related party during the financial reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Additional Information (Detail) (USD $)
|
9 Months Ended | 9 Months Ended | 1 Months Ended | 6 Months Ended | 9 Months Ended | 9 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
Installment
|
Oct. 01, 2011
|
Sep. 29, 2012
Key Loan Agreement [Member]
|
Dec. 31, 2011
Key Loan Agreement [Member]
|
Sep. 29, 2012
Amended and Restated Loan Agreement and Promissory Note [Member]
|
Jan. 31, 2011
Cuyahoga County [Member]
|
Jun. 30, 2010
Cuyahoga County [Member]
|
Sep. 29, 2012
Cuyahoga County [Member]
|
Dec. 31, 2011
Cuyahoga County [Member]
|
May 01, 2006
Cuyahoga County [Member]
|
Sep. 29, 2012
UBS Financial Services [Member]
|
Dec. 31, 2011
UBS Financial Services [Member]
|
|
| Line of Credit Facility [Line Items] | ||||||||||||
| Aggregate borrowing capacity | $ 220,000,000 | $ 20,000,000 | $ 5,954,000 | $ 8,369,000 | ||||||||
| Revolving credit facility | 110,000,000 | |||||||||||
| Credit facility expansion | 20,000,000 | |||||||||||
| Equipment credit facility | 60,000,000 | |||||||||||
| Term loan | 50,000,000 | |||||||||||
| Letter of credit | 5,000,000 | 40,000 | 50,000 | |||||||||
| Revolving credit facility maturity date | 2017-08-28 | |||||||||||
| Equipment credit facility | Aug. 28, 2015 | |||||||||||
| Number of quarterly installments on equipment credit facility | 28 | |||||||||||
| Term loan facility maturity date | 2017-08-28 | |||||||||||
| Percentage of excess cash flow for term loan repayment | 50.00% | |||||||||||
| Percentage of cash proceeds from sale of assets | 100.00% | |||||||||||
| Percentage of insurance and condemnation proceeds | 100.00% | |||||||||||
| Interest Prime Rate | 0.50% | |||||||||||
| LIBOR interest rate | 1.00% | |||||||||||
| Effective rate, percentage | 1.22% | 1.07% | ||||||||||
| Line of credit facility, interest rate description | The line of credit was unsecured and bore interest at a rate equal to the lesser of the Prime Rate minus 0.50% or LIBOR plus 1.00% | The line of credit bears an interest rate equal to LIBOR plus 0.85% (effective rate of 1.07% at September 29, 2012), and interest is adjusted and billed monthly | ||||||||||
| Tangible net worth | 85,000,000 | |||||||||||
| Debt to tangible net worth ratio | 1 | |||||||||||
| Initiation date of agreement | Oct. 25, 2010 | May 01, 2006 | ||||||||||
| Maturity date of agreement | Oct. 23, 2012 | |||||||||||
| LIBOR interest rate | 0.85% | |||||||||||
| Outstanding balance under the line of credit | 0 | 0 | ||||||||||
| Loan received | 1,000,000 | |||||||||||
| Annual interest rate on loan | 5.00% | |||||||||||
| Forgave amount of principal | 90,000 | 450,000 | ||||||||||
| Reduction in the cost of the underlying improvements | 90,000 | |||||||||||
| Maturity date of loan | Jan. 31, 2011 | |||||||||||
| Remaining balance paid of loan | 550,000 | |||||||||||
| Outstanding balance of loan | $ 0 | $ 0 | ||||||||||
| X | ||||||||||
|
- Definition
Credit facility advance expiration date No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument Term Loan Facility Maturity Date No definition available.
|
| X | ||||||||||
|
- Definition
Debt to tangible net worth ratio. No definition available.
|
| X | ||||||||||
|
- Definition
Letter Of Credit No definition available.
|
| X | ||||||||||
|
- Definition
The amount added to LIBOR if the Company elects LIBOR rate as its borrowing base. No definition available.
|
| X | ||||||||||
|
- Definition
Line Of Credit Facility Number Of Periodic Payments No definition available.
|
| X | ||||||||||
|
- Definition
Long term debt forgiveness amount per annum. No definition available.
|
| X | ||||||||||
|
- Definition
Long term debt interest rate. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Cash Proceeds From Sale Of Assets No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Excess Cash Flow For Term Loan Repayment No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Insurance And Condemnation Proceeds No definition available.
|
| X | ||||||||||
|
- Definition
The amount added to the prime rate if the Company elects the prime rate as its borrowing base. No definition available.
|
| X | ||||||||||
|
- Definition
Revolving Credit Facility Maturity Date No definition available.
|
| X | ||||||||||
|
- Definition
Amount by which the revolving credit facility may be increased. No definition available.
|
| X | ||||||||||
|
- Definition
Revolving Credit Loans No definition available.
|
| X | ||||||||||
|
- Definition
Revolving Equipment Credit Facility No definition available.
|
| X | ||||||||||
|
- Definition
Tangible Net Worth No definition available.
|
| X | ||||||||||
|
- Definition
Term Loan 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
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease for amounts of indebtedness forgiven by the holder of the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease for amounts repaid on the debt instrument for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The stated principal amount of the debt instrument at time of issuance, which may vary from the carrying amount because of unamortized premium or discount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date the credit facility terminates, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date the credit facility first became available, in CCYY-MM-DD format. 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 | ||||||||||
|
- Details
|
| 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
|
|
Earnings Per Share - Additional Information (Detail)
|
3 Months Ended | 9 Months Ended |
|---|---|---|
|
Oct. 01, 2011
|
Oct. 01, 2011
|
|
| Earnings Per Share [Line Items] | ||
| Options to purchase shares of common stock excluded from calculation of diluted earnings per share due to anti-dilutive | 187,500 | 187,500 |
| X | ||||||||||
|
- Details
|
| 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
|
|
Stock Based Compensation - Additional Information (Detail) (USD $)
|
9 Months Ended |
|---|---|
|
Sep. 29, 2012
|
|
| Stock Based Compensation Activity [Line Items] | |
| Options granted to employees | |
| Stock options granted vested, life | 7 years |
| Stock options granted vested, exercise price per share | $ 22.50 |
|
Stock Incentive Plan [Member]
|
|
| Stock Based Compensation Activity [Line Items] | |
| Issuance of shares | 500,000 |
| Options granted to employees | 260,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired. No definition available.
|
|
Stock Based Compensation - Summary of Stock Option Activity and Related Information (Detail) (USD $)
|
9 Months Ended |
|---|---|
|
Sep. 29, 2012
|
|
| Schedule Of Stock Options [Line Items] | |
| Options, Outstanding Number, Beginning Balance | 187,500 |
| Options, Granted | |
| Options, Exercised | |
| Options, Expired | 187,500 |
| Options, Forfeited | |
| Options, Outstanding Number, Ending Balance | |
| Options, Exercisable | |
| Weighted Average Exercise Price, Beginning Balance | $ 22.50 |
| Weighted Average Exercise Price, Granted | |
| Weighted Average Exercise Price, Exercised | |
| Weighted Average Exercise Price, Expired | $ 22.50 |
| Weighted Average Exercise Price, Forfeited | |
| Weighted Average Exercise Price, Ending Balance | |
| Weighted Average Exercise Price, Exercisable |
| X | ||||||||||
|
- Details
|
| 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 weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements. 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
Gross number of share options (or share units) granted during the period. No definition available.
|
| 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 | ||||||||||
|
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance on stock options awarded. No definition available.
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Comprehensive Income - Components of Comprehensive Income (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Sep. 29, 2012
|
Oct. 01, 2011
|
|
| Accumulated Other Comprehensive Income [Line Items] | ||||
| Unrealized holding gains (losses) on available-for-sale investments, Gross amount | $ 449 | $ (2,682) | $ 1,313 | $ (1,830) |
| Unrealized holding gains (losses) on available-for-sale investments, Income tax (expense) benefit | (170) | 1,049 | (489) | 788 |
| Unrealized holding gains (losses) on available-for-sale investments, Net of tax amount | 279 | (1,633) | 824 | (1,042) |
| Realized (gains) on available-for-sale investments reclassified into income, Gross amount | (1,034) | (74) | (1,904) | (916) |
| Realized (gains) on available-for-sale investments reclassified into income, Income tax expense | 400 | 22 | 739 | 348 |
| Realized (gains) on available-for-sale investments reclassified into income, Net of tax amount | $ (634) | $ (52) | $ (1,165) | $ (568) |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Before tax amount of the income statement impact of the reclassification adjustment for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax amount of the income statement impact of the reclassification adjustment for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax effect of the income statement impact of the reclassification adjustment for unrealized gain (loss) realized upon the sale of available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Before tax and reclassification adjustments amount of unrealized holding gain (loss) and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax effect of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Comprehensive Income - Additional Information (Detail) (USD $)
|
Sep. 29, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Comprehensive Income [Line Items] | ||
| Accumulated other comprehensive income | $ 1,267,000 | $ 1,608,000 |
| Net unrealized holding gains on available for-sale investments | 2,071,000 | 2,662,000 |
| Accumulated other comprehensive income, income taxes | 804,000 | 1,054,000 |
| Gross unrealized holding gains on available-for-sale investments | 2,418,000 | 3,346,000 |
| Gross unrealized holding losses on available-for-sale investments | $ 347,000 | $ 684,000 |
| X | ||||||||||
|
- Definition
Accumulated other comprehensive income, income taxes. No definition available.
|
| X | ||||||||||
|
- Details
|
| 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
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized gains for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net amount of gross unrealized gains (losses) for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized losses for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
|
Acquisitions - Additional Information (Detail) (USD $)
|
1 Months Ended | 9 Months Ended | |
|---|---|---|---|
|
May 31, 2012
|
Sep. 29, 2012
|
Sep. 29, 2012
Customer relationships [Member]
|
|
| Business Acquisition [Line Items] | |||
| Company acquired certain assets through a Limited Assets Purchase Agreement | $ 1,100,000 | ||
| Original purchase price | $ 850,000 | ||
| Amortization period of intangible assets acquired | 7 years |
| X | ||||||||||
|
- Definition
Business acquisition asset purchase agreement amount. No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. 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
|
|
Acquisitions - Allocation of Purchase Price (Detail) (USD $)
In Thousands, unless otherwise specified |
Sep. 29, 2012
|
|---|---|
| Acquisition: | |
| Intangible assets | $ 657 |
| Property and equipment | 200 |
| Goodwill (tax deductible) | 243 |
| Total assets acquired | $ 1,100 |
| X | ||||||||||
|
- Details
|
| 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 amount of goodwill arising from a business combination that is expected to be deductible for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of acquisition cost of a business combination allocated to assets, excluding financial assets and goodwill, lacking physical substance. No definition available.
|
| 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
|
|
Fair Value Measurements - Financial Assets Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $)
In Thousands, unless otherwise specified |
Sep. 29, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash equivalents | $ 16 | $ 79 |
| Marketable securities | 11,167 | 16,059 |
| Total Assets | 11,183 | 16,138 |
|
Level 1 [Member]
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash equivalents | 16 | 79 |
| Marketable securities | 11,167 | 16,059 |
| Total Assets | 11,183 | 16,138 |
|
Level 2 [Member]
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash equivalents | ||
| Marketable securities | ||
| Total Assets | ||
|
Level 3 [Member]
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Cash equivalents | ||
| Marketable securities | ||
| Total Assets |
| X | ||||||||||
|
- Definition
Marketable securities fair value disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. 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 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 Company 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Marketable Securities - Schedule of Cost, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses, and Fair Value of Available-for-Sale Securities (Detail) (USD $)
|
Sep. 29, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Schedule of Available-for-sale Securities [Line Items] | ||
| Equity Securities, Gross unrealized holding gains | $ 2,418,000 | $ 3,346,000 |
| Equity Securities, Gross unrealized holding (losses) | (347,000) | (684,000) |
| Equity Securities, Fair Value | 11,167,000 | 16,059,000 |
|
Equity Securities [Member]
|
||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Equity Securities, Cost | 9,096,000 | 13,397,000 |
| Equity Securities, Gross unrealized holding gains | 2,418,000 | 3,346,000 |
| Equity Securities, Gross unrealized holding (losses) | (347,000) | (684,000) |
| Equity Securities, Fair Value | $ 11,167,000 | $ 16,059,000 |
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized gains for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the gross unrealized losses for securities, at a point in time, which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for less than one year or the normal operating cycle, whichever is longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Marketable Securities - Additional Information (Detail) (USD $)
|
9 Months Ended |
|---|---|
|
Sep. 29, 2012
Company
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Cumulative loss position related to fair value of equity securities | $ 347,000 |
| Number of companies in which fair value and unrealized losses are distributed | 11 |
|
Equity Securities [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Fair value of equity securities | 2,090,000 |
| Cumulative loss position related to fair value of equity securities | $ 347,000 |
| X | ||||||||||
|
- Definition
Number of companies in which fair value and unrealized losses are distributed. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the excess of amortized cost basis over fair value of securities in a loss position and categorized neither as held-to-maturity nor trading securities. 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 Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Marketable Securities - Schedule of Gross Unrealized Holding Losses and Fair Value of Marketable Securities (Detail) (USD $)
|
Sep. 29, 2012
|
|---|---|
| Schedule of Available-for-sale Securities [Line Items] | |
| Equity securities, Total, Unrealized Losses | $ 347,000 |
|
Equity Securities [Member]
|
|
| Schedule of Available-for-sale Securities [Line Items] | |
| Equity securities, Less than 12 Months, Fair Value | 1,390,000 |
| Equity securities, Less than 12 Months, Unrealized Losses | 156,000 |
| Equity securities, 12 Months or Greater, Fair Value | 700,000 |
| Equity securities, 12 Months or Greater, Unrealized Losses | 191,000 |
| Equity securities, Total, Fair Value | 2,090,000 |
| Equity securities, Total, Unrealized Losses | $ 347,000 |
| X | ||||||||||
|
- Definition
Amount of the excess of amortized cost basis over fair value of securities that have been in a loss position for twelve months or longer for securities which are categorized neither as held-to-maturity nor trading securities. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of the excess of amortized cost basis over fair value of securities in a loss position and categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities in an unrealized loss position which are categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the excess of amortized cost basis over fair value of securities that have been in a loss position for less than twelve months for securities categorized neither as held-to-maturity nor trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for less than twelve months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the aggregate fair value of investments in debt and equity securities categorized neither as held-to-maturity nor trading securities that have been in a continuous unrealized loss position for twelve months or longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Subsequent Events - Additional Information (Detail) (USD $)
In Millions, except Share data, unless otherwise specified |
9 Months Ended | 9 Months Ended | |||||
|---|---|---|---|---|---|---|---|
|
Sep. 29, 2012
|
Oct. 01, 2011
|
Dec. 31, 2011
|
Sep. 29, 2012
Prepaid expenses and other [Member]
|
Nov. 01, 2012
Subsequent Event [Member]
|
Oct. 01, 2012
Subsequent Event [Member]
|
Sep. 29, 2012
LINC [Member]
|
|
| Subsequent Event [Line Items] | |||||||
| Shares of common stock of LINC | 0.700 | ||||||
| Shares of common stock issued | 14,527,332 | ||||||
| Payment of cash in lieu of fractional shares | $ 27.60 | ||||||
| Proforma revenues | $ 777.5 | $ 742.7 | |||||
| Proforma earnings per share, Basic | $ 1.13 | $ 1.00 | |||||
| Proforma earnings per share, Diluted | $ 1.13 | $ 1.00 | |||||
| Transaction costs | 8.3 | 6.0 | |||||
| Amount borrowed for the acquisition of LINC | $ 149.1 | ||||||
| Common stock, shares authorized | 40,000,000 | 40,000,000 | 100,000,000 | ||||
| X | ||||||||||
|
- Definition
Business Acquisition Cash Amount Borrowed No definition available.
|
| X | ||||||||||
|
- Definition
Cash Payment To Converted Common Shares No definition available.
|
| X | ||||||||||
|
- Definition
Subsequent events shares of common stock issued. No definition available.
|
| X | ||||||||||
|
- Definition
Subsequent events shares of common stock exchange rate. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been deferred. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. No definition available.
|
| X | ||||||||||
|
- Definition
The pro forma basic 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 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 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
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
|
| X | ||||||||||
|
- Details
|