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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 30, 2017	Feb. 16, 2018	Jul. 01, 2017
Document Information [Line Items]
Entity Registrant Name	LITTELFUSE INC /DE
Entity Central Index Key	0000889331
Trading Symbol	lfus
Current Fiscal Year End Date	--12-30
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		24,830,204
Entity Public Float			$ 3,736,767,705
Document Type	10-K
Document Period End Date	Dec. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 429,676	$ 275,124
Short-term investments	35	3,690
Trade receivables, less allowances (2017 - $27,516; 2016 - $25,874)	182,699	176,032
Inventories	140,789	114,063
Prepaid income taxes and income taxes receivable	1,689	11,671
Prepaid expenses and other current assets	37,452	31,501
Total current assets	792,340	612,081
Property, plant, and equipment:
Land	9,547	9,268
Buildings	86,599	80,553
Equipment	505,838	439,542
Accumulated depreciation and amortization	(351,407)	(312,188)
Net property, plant, and equipment	250,577	217,175
Intangible assets, net of amortization	203,850	213,027
Goodwill	453,414	403,544
Investments	10,993	13,933
Deferred income taxes	11,858	20,585
Other assets	17,070	10,849
Total assets	1,740,102	1,491,194
Current liabilities:
Accounts payable	101,844	90,712
Accrued payroll	49,962	42,810
Accrued expenses	48,994	36,138
Accrued severance	1,459	2,785
Accrued income taxes	16,285	8,846
Current portion of long-term debt	6,250	6,250
Total current liabilities	224,794	187,541
Long-term debt, less current portion	489,361	447,892
Deferred income taxes	(17,069)	(7,066)
Accrued post-retirement benefits	18,742	13,398
Other long-term liabilities	62,580	20,366
Shareholders’ equity:
Common stock, par value $0.01 per share: 34,000,000 shares authorized; shares issued, 2017 –22,713,198; 2016 –22,626,922	229	228
Treasury stock, at cost: 439,598 and 409,115 shares, respectively	(41,294)	(36,510)
Additional paid-in capital	310,012	291,258
Accumulated other comprehensive income	(63,668)	(74,579)
Retained earnings	722,140	634,391
Littelfuse, Inc. shareholders’ equity	927,419	814,788
Non-controlling interest	137	143
Total equity	927,556	814,931
Total liabilities and equity	$ 1,740,102	$ 1,491,194

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Trade receivables, allowances	$ 27,516	$ 25,874
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	34,000,000	34,000,000
Common stock, shares issued (in shares)	22,713,198	22,626,922
Common stock, shares outstanding (in shares)	22,713,198	22,626,922
Treasury stock, shares (in shares)	439,598	409,115

Consolidated Statements of Net Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Net sales	$ 1,221,534	$ 1,056,159	$ 867,864
Cost of sales	715,001	643,042	537,365
Gross profit	506,533	413,117	330,499
Selling, general, and administrative expenses	212,833	206,129	153,714
Research and development expenses	50,489	42,198	30,802
Pension settlement expenses			29,928
Amortization of intangibles	24,700	19,337	11,898
Impairment of goodwill and intangible assets		14,809
Total operating expenses	288,022	282,473	226,342
Operating income	218,511	130,644	104,157
Interest expense	13,380	8,628	4,091
Foreign exchange loss (gain)	2,376	472	(1,465)
Other (income) expense, net	(1,282)	(1,730)	(5,417)
Income before income taxes	204,037	123,274	106,948
Income taxes	84,518	18,786	26,082
Net income	$ 119,519	$ 104,488	$ 80,866
Income per share:
Basic (in dollars per share)	$ 5.27	$ 4.63	$ 3.58
Diluted (in dollars per share)	$ 5.21	$ 4.60	$ 3.56
Weighted-average shares and equivalent shares outstanding:
Basic (in shares)	22,687	22,559	22,565
Diluted (in shares)	22,931	22,727	22,719

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Net income	$ 119,519	$ 104,488	$ 80,866
Other comprehensive income (loss):
Pension and postemployment liability adjustments net of tax expense (benefit) of $535, ($1,302) and ($106), respectively	1,235	(3,673)	(1,761)
Pension and postemployment reclassification adjustments, net	(88)	412	1,530
Unrealized (loss) on investments	(974)	(815)	793
Reclassification of pension settlement costs to expense net of tax expense of $11,742 in 2015			21,124
Foreign currency translation adjustments	10,738	(24,832)	(46,231)
Comprehensive income	$ 130,430	$ 75,580	$ 56,321

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Pension and postemployment liability adjustments, tax	$ 535	$ (1,302)	$ (106)
Reclassification adjustments, tax	(150)	0	746
Pension settlement, tax			$ 11,742

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Operating activities
Net income	$ 119,519	$ 104,488	$ 80,866
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	38,311	33,800	29,701
Amortization of Intangible Assets	24,700	19,337	11,898
Impairment of goodwill and intangible assets		14,809
Provision for bad debts	2,414	1,769	164
Non-cash inventory charges	1,607	7,834
Net loss on pension settlement, net of tax			19,308
Loss on sale of product line		1,391
Loss on sale of property, plant, and equipment	3,634	813	1,253
Stock-based compensation	16,315	11,987	10,266
Excess tax benefit on share-based compensation		(3,421)	(1,891)
Deferred income taxes	17,063	(5,269)	11,479
Changes in operating assets and liabilities:
Accounts receivable	(11,087)	(22,779)	(3,397)
Inventories	(20,180)	8,539	(3,577)
Accounts payable	6,494	19,190	2,573
Accrued expenses (including post-retirement)	7,641	2,287	6,482
Accrued payroll and severance	3,709	6,131	5,883
Accrued taxes	39,276	(18,062)	557
Prepaid expenses and other	19,754	(2,711)	(5,739)
Net cash provided by operating activities	269,170	180,133	165,826
Investing activities
Acquisitions of businesses, net of cash acquired	(38,512)	(471,118)	(4,558)
Purchase of cost method investment			(3,500)
Proceeds from maturities of short-term investments	3,739	345
Decrease in entrusted loan	3,599	5,510	7,811
Purchases of property, plant, and equipment	(65,925)	(46,228)	(44,019)
Proceeds from sale of property, plant, and equipment	962	248	102
Net cash used in investing activities	(96,137)	(511,243)	(44,164)
Financing activities:
Proceeds of revolving credit facility	15,000	367,000	49,000
Proceeds of term loan	9,375	125,000
Proceeds of senior notes payable	125,000	226,428
Payments of term loan	(7,188)	(89,688)	(8,750)
Payments of revolving credit facility	(127,500)	(331,500)	(55,500)
Net (payments) proceeds related to stock-based award activities	2,373	(20,494)	(9,150)
Proceeds (payments) from entrusted loan	(3,599)	(5,510)	(7,811)
Debt issuance costs	(1,626)	(3,583)	(42)
Cash dividends paid	(31,770)	(27,866)	(24,341)
Excess tax benefit on share-based compensation		3,421	1,891
Purchases of common stock			(31,252)
Net cash (used in) provided by financing activities	(24,681)	284,196	(67,655)
Effect of exchange rate changes on cash and cash equivalents	6,200	(6,748)	(22,792)
Increase (decrease) in cash and cash equivalents	154,552	(53,662)	31,215
Cash and cash equivalents at beginning of year	275,124	328,786	297,571
Cash and cash equivalents at end of year	$ 429,676	$ 275,124	$ 328,786

Consolidated Statements of Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 27, 2014	$ 226	$ 243,844	$ (18,724)	$ (21,126)	$ 519,956	$ 143	$ 724,319
Comprehensive income:
Net income for the year					80,866		80,866
Pension liability adjustments, net				(1,761)			(1,761)
Pension settlement, net				21,124			21,124
Pension and postemployment reclassification adjustments, net				1,530			1,530
Unrealized (loss) on investments				793			793
Foreign currency translation adjustments				(46,231)			(46,231)
Comprehensive income							56,321
Stock-based compensation		7,782					7,782
Withheld			(2,727)				(2,727)
Retirement of treasury stock			18,712		(18,712)
Purchase of common stock	(4)	(1,221)	(30,027)				(31,252)
Stock options exercised	2	9,148					9,150
Cash dividends paid					(24,341)		(24,341)
Balance at Jan. 02, 2016	224	243,844	(32,766)	(45,671)	557,769	143	739,252
Comprehensive income:
Net income for the year					104,488		104,488
Pension liability adjustments, net				(3,673)			(3,673)
Pension settlement, net
Pension and postemployment reclassification adjustments, net				412			412
Unrealized (loss) on investments				(815)			(815)
Foreign currency translation adjustments				(24,832)			(24,832)
Comprehensive income							75,580
Stock-based compensation		7,471					7,471
Withheld			(3,744)				(3,744)
Stock options exercised	4	24,234					24,238
Cash dividends paid					(27,866)		(27,866)
Balance at Dec. 31, 2016	228	291,258	(36,510)	(74,579)	634,391	143	814,931
Comprehensive income:
Net income for the year					119,519		119,519
Pension liability adjustments, net				1,235			1,235
Pension settlement, net
Pension and postemployment reclassification adjustments, net				(88)			(88)
Unrealized (loss) on investments				(974)			(974)
Foreign currency translation adjustments				10,738			10,738
Comprehensive income							130,430
Stock-based compensation		16,315					16,315
Withheld			(4,784)				(4,784)
Stock options exercised	1	2,439					2,440
Cash dividends paid					(31,770)		(31,770)
Non-controlling interest						6	6
Balance at Dec. 30, 2017	$ 229	$ 310,012	$ (41,294)	$ (63,668)	$ 722,140	$ 137	$ 927,556

Consolidated Statements of Equity (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Treasury Stock [Member]
Shares withheld on restricted stock grants for withholding taxes (in shares)	30,459,000	31,040,000	28,286,000
Treasury stock, retired (in shares)			214,609,000
Purchase of common stock, shares (in shares)			350,000,000
Common Stock [Member]
Stock options exercised, tax impact		$ (7,400)	$ (2,485)
Retained Earnings [Member]
Cash dividends paid, per share (in dollars per share)	$ 1.40	$ 1.24	$ 1.08
Purchase of common stock, shares (in shares)	0

Note 1 - Summary of Significant Accounting Policies and Other Information	12 Months Ended
	Dec. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies and Other Information Nature of Operations Littelfuse, Inc. and subsidiaries (the “ Company”) is a global leader in circuit protection products with advancing platforms in power control and sensor technologies, serving customers in the electronics, automotive, and industrial markets. With a diverse and extensive product portfolio of fuses, semiconductors, polymers, ceramics, relays and sensors, the Company works with its customers to build safer, more reliable and more efficient products for the connected world in virtually every market that uses electrical energy, ranging across consumer electronics, IT and telecommunication applications, industrial electronics, automobiles and other transportation, and heavy industrial applications. The Company has a network of global engineering centers and labs that develop new products and product enhancements, provides customer application support and test products for safety, reliability, and regulatory compliance. Fiscal Year References herein to “201 7”, “fiscal 2017” or “fiscal year 2017” refer to the fiscal year ended December 30, 2017. References herein to “2016”, “fiscal 2016” or “fiscal year 2016” refer to the fiscal year ended December 31, 2016. References herein to “2015”, “fiscal 2015” or “fiscal year 2015” refer to the fiscal year ended January 2, 2016. The Company operates on a 52 - 53 week fiscal year ( 4 - 4 - 5 basis) ending on the Saturday closest to December 31. Therefore, the financial results of certain fiscal years and the associated 14 week quarters will not be exactly comparable to the prior and subsequent 52 week fiscal years and the associated quarters having only 13 weeks. As a result of using this convention, each of fiscal 2017 and fiscal 2016 contained 52 weeks whereas fiscal 2015 contained 53 weeks. Basis of Presentation The Consolidated Financial Statements include the accounts of Littelfuse, Inc. and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The company ’s Consolidated Financial Statements were prepared in accordance with generally accepted accounting principles in the United States of America and include the assets, liabilities, sales and expenses of all wholly-owned subsidiaries and majority-owned subsidiaries over which the Company exercises control. Use of Estimates The process of preparing financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts of assets and liabilities at the date of the Consolidated Financial Statements, and the reported amounts of revenues and expenses and the accompanying notes. The Company evaluates and updates its assumptions and estimates on an ongoing basis and may employ outside experts to assist in its evaluation, as considered necessary. Actual results could differ from those estimates. Cash Equivalents All highly liquid investments, with an original maturity of three months or less when purchased, are considered to be cash equivalents. Short-Term and Long-Term Investments As of December 3 0, 2017, the Company had an investment in Polytronics Technology Corporation Ltd. (“Polytronics”). The Company’s Polytronics shares held at the end of fiscal 2017 and 2016 represent approximately 7.2% of total Polytronics shares outstanding. The Polytronics investment is classified as available-for-sale and is carried at fair value with the unrealized gains and losses reported as a component of “Accumulated Other Comprehensive Income (Loss).” The fair value of the Polytronics investment was €9.2 million (approximately $11.0 million) at December 30, 2017 and €10.0 million (approximately $10.4 million) at December 31, 2016. Included in 2017 and 2016, other comprehensive income are unrealized losses of $1.0 million and $0.8 million, respectively, due to changes in fair market value of the Polytronics investment. The remaining movement year over year was due to the impact of changes in exchange rates. The Company has certain investment securities that are classified as available-for-sale. Available-for-sale securities are carried at fair value with the unrealized gains and losses reported as a component of “Accumulated Other Comprehensive Income (Loss).” Realized gains and losses and declines in unrealized value judged to be other-than-temporary on available-for-sale securities are included in other expense (income), net. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available-for-sale are included in interest income. Short-term investments, which are primarily certificates of deposits, are carried at cost which approximates fair value. The C ompany has investments related to its non-qualified Supplemental Retirement and Savings Plan. The Company maintains accounts for participants through which participants make investment elections. The investment securities are subject to the claims of the Company’s creditors. The investment securities are all mutual funds with readily determinable fair values and are classified as trading securities. The investment securities are measured at fair value with unrealized gains and losses recognized in earnings. As of December 30, 2017, there was $8.0 million of marketable securities related to the plan included in Other assets on the Consolidated Balance Sheets. Trade Receivables The Company performs credit evaluations of customers’ financial condition and generally does not require collateral. Credit losses are provided for in the financial statements based upon specific knowledge of a customer’s inability to meet its financial obligations to the Company. Historically, credit losses have consistently been within management’s expectations and have not been a material amount. A receivable is considered past due if payments have not been received within agreed upon invoice terms. Write-offs are recorded at the time a customer receivable is deemed uncollectible. The Company also maintains allowances against accounts receivable for the settlement of rebates and sales discounts to customers. These allowances are based upon specific customer sales and sales discounts as well as actual historical experience. Inventories Inventories are stated at the lower of cost or net realizable value, which approximates current replacement cost. Cost is principally determined using the first -in, first -out method. The Company maintains excess and obsolete allowances against inventory to reduce the carrying value to the expected net realizable value. These allowances are based upon a combination of factors including historical sales volume, market conditions, lower of cost or market analysis and expected realizable value of the inventory. Property, Plant , and Equipment Land, buildings , and equipment are carried at cost. Depreciation is calculated using the straight-line method with useful lives of 21 years for buildings, seven to nine years for equipment, seven years for furniture and fixtures, five years for tooling and three years for computer equipment. Leasehold improvements are depreciated over the lesser of their useful life or the lease term. Maintenance and repair costs are charged to expense as incurred. Major overhauls that extend the useful lives of existing assets are capitalized. Goodwill The Company annually tests goodwill for impairment on the first day of its fiscal fourth quarter, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. The Company compares each reporting unit ’s fair value, estimated based on comparable company market valuations and expected future discounted cash flows to be generated by the reporting unit, to its carrying value. For the seven reporting units with goodwill, the Company compared the estimated fair value of each reporting unit to its carrying value. The results of the goodwill impairment test as of October 1, 2017 indicated that the estimated fair values for each of the seven reporting units exceeded their respective carrying values. As of the most recent annual test conducted on October 1, 2017, the Company noted that the excess of fair value over the carrying value, was 161%, 314%, 247%, 218%, 100%, 25%, and 248% for its reporting units; Electronics (non-silicon), Electronics (silicon), Passenger Car, Commercial Vehicle Products, Sensors, Relays, and Power Fuse, respectively. Relatively small changes in the Company’s key assumptions would not have resulted in any reporting units failing the goodwill impairment test. See Note 4, Goodwill and Other Intangible Assets, for additional information. The Company also performs an interim review for indicators of impairment each quarter to assess whether an interim impairment review is required for any reporting unit. As part of its interim reviews, management analyzes potential changes in the value of individual reporting units based on each reporting unit ’s operating results for the period compared to expected results as of the prior year’s annual impairment test. In addition, management considers how other key assumptions, including discount rates and expected long-term growth rates, used in the last annual impairment test, could be impacted by changes in market conditions and economic events. Based on the interim assessments as of December 30, 2017, management concluded that no events or changes in circumstances indicated that it was more likely than not that the fair value for any reporting unit had declined below its carrying value. Long-Lived Assets Customer relationships, t rademarks and tradenames are amortized using the straight-line method over estimated useful lives that have a range of five to 20 years. Patents, licenses and software are amortized using the straight-line method or an accelerated method over estimated useful lives that have a range of five to 17 years. The distribution networks are amortized on either a straight-line or accelerated basis over estimated useful lives that have a range of three to 20 years. The Company assesses potential impairments to its long-lived assets if events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impaired asset is written down to its estimated fair value based upon the most recent information available. Estimated fair market value is generally measured by discounting estimated future cash flows. Long-lived assets, other than goodwill and other intangible assets, that are held for sale are recorded at the lower of carrying value or the fair market value less the estimated cost to sell. During the year ended December 31, 2016, the Company recognized non-cash impairment charges totaling $6.0 million, of which $2.2 million related to the impairment of certain customer relationship intangible assets in the customs reporting unit within the Industrial segment and $3.8 million related to the impairment of the Custom Products tradename. The impairment of the customer relationship intangible assets resulted from lower expectations of future revenue to be derived from those relationships while the tradename impairment resulted from lower expectations of future cash flows of the customs reporting unit. Environmental Liabilities Environmental liabilities are accrued based on engineering studies estimating the cost of remediating sites. Expenses related to on-going maintenance of environmental sites are expensed as incurred. If actual or estimated probable future losses exceed the Company’s recorded liability for such claims, the Company would record additional charges during the period in which the actual loss or change in estimate occurred. Pension and Other Post-retirement Benefits The Company records annual income and expense amounts relating to its pension and post-retirement benefits plans based on calculations which include various actuarial assumptions including discount rates, expected long-term rates of return and compensation increases. The Company reviews its actuarial assumptions on an annual basis as of the fiscal year-end balance sheet date (or more frequently if a significant event requiring remeasurement occurs) and modifies the assumption based on current rates and trends when it is appropriate to do so. The effects of modifications are recognized immediately on the Consolidated Balance Sheets, but are generally amortized into operating earnings over future periods, with the deferred amount recorded in accumulated other comprehensive income (loss). The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience, market conditions and input from its actuaries and investment advisors. Revenue Recognition The Company recognizes revenue on product sales in the period in which the sales process is complete. This generally occurs when persuasive evidence of an arrangement exists, products are shipped (FOB origin) to the customer in accordance with the terms of the sale, the risk of loss has been transferred, collectability is reasonably assured, and the pricing is fixed and determinable. At the end of each period, for those shipments where title to the products and the risk of loss and rewards of ownership do not transfer until the product has been received by the customer, the Company adjusts revenues and cost of sales for the delay between the time that the products are shipped and when they are received by the customer. The Company’s distribution channels are primarily through direct sales and independent third -party distributors. Revenue and Billing The Company generally accepts orders from customers based on long term purchasing contracts and written sales agreements. Contract pricing and selling agreement terms are based on market factors, costs, and competition. Pricing normally is negotiated as an adjustment (premium or discount) from the Company’s published price lists. The customer is invoiced when the Company’s products are shipped to them in accordance with the terms of the sales agreement. Returns and Credits Some of the terms of the Company’s sales agreements and normal business conditions provide customers (distributors) the ability to receive price adjustments on products previously shipped and invoiced. This practice is common in the industry and is referred to as a “ship and debit” program. This program allows the distributor to debit the Company for the difference between the distributors’ contracted price and a lower price for specific transactions. Under certain circumstances (usually in a competitive situation or large volume opportunity), a distributor will request authorization to reduce its price to its buyer. If the Company approves such a reduction, the distributor is authorized to “debit” its account for the difference between the contracted price and the lower approved price. The Company establishes reserves for this program based on historic activity and actual authorizations for the debit and recognizes these debits as a reduction of revenue. Return to Stock The Company has a return to stock policy whereby a customer with prior authorization from Littelfuse management can return previously purchased goods for full or partial credit. The Company establishes an estimated allowance for these returns based on historic activity. Sales revenue and cost of sales are reduced to anticipate estimated returns. Volume Rebates The Company offers incentives to certain customers to achieve specific quarterly or annual sales targets. If customers achieve their sales targets, they are entitled to rebates. The Company estimates the future cost of these rebates and recognizes this estimated cost as a reduction to revenue as products are sold. Allowance for Doubtful Accounts The Company evaluates the collectability of its trade receivables based on a combination of factors. The Company regularly analyzes its significant customer accounts and, when the Company becomes aware of a specific customer’s inability to meet its financial obligations, the Company records a specific reserve for bad debt to reduce the related receivable to the amount the Company reasonably believes is collectible. The Company also records allowances for all other customers based on a variety of factors including the length of time the receivables are past due, the financial health of the customer, macroeconomic considerations and past experience. Accounts receivable balances that are deemed to be uncollectible, are written off against the reserve on a case-by-case basis. Historically, the allowance for doubtful accounts has been adequate to cover bad debts. If circumstances related to specific customers change, the estimates of the recoverability of receivables could be further adjusted. However, due to the Company’s diverse customer base and lack of credit concentration, the Company does not believe its estimates would be materially impacted by changes in its assumptions. Advertising Costs The Company expenses advertising costs as incurred, which amounted to $2.9 million in both 2017 and 2016 and $2.3 million in 2015, respectively, and are included as a component of selling, general, and administrative expenses. Shipping and Handling Fees and Costs Amounts billed to customers related to shipping and handling is classified as revenue. Costs incurred for shipping and handling of $10.9 million $9.1 million, and $7.0 million in 2017, 2016, and 2015, respectively, are classified in selling, general, and administrative expenses. Foreign Currency Translation / Remeasurement The Company’s foreign subsidiaries use the local currency or the U.S. dollar as their functional currency, as appropriate. Assets and liabilities are translated using exchange rates at the balance sheet date, and revenues and expenses are translated at weighted average rates. The amount of foreign currency gain or loss from remeasurement recognized in the income statement was a loss of $2.4 million in 2017, a loss of $0.5 million in 2016, and a gain of $1.5 million in 2015. Adjustments from the translation process are recognized in “Shareholders’ equity” as a component of “Accumulated other comprehensive income.” Stock-based Compensation The Company recognizes compensation expense for the cost of awards of equity compensation using a fair value method. Benefits of tax deductions in excess of recognized compensation expense are reported as operating cash flows. See Note 9, Shareholders’ Equity , for additional information on stock-based compensation. Coal Mining Liability Included in other long-term liabilities is an accrual related to former coal mining operations at Littelfuse GmbH (formerly known as Heinrich Industries, AG) for the amounts of € 0.9 million ( $1.1 million) and €1.4 million ( $1.5 million) at December 30, 2017 and December 31, 2016, respectively. Management, in conjunction with an independent third -party, performs an annual evaluation of the former coal mining operations in order to develop an estimate of the probable future obligations in regard to remediating the dangers (such as a shaft collapse) of abandoned coal mine shafts in the former coal mining operations. Management accrues for costs associated with such remediation efforts based on management's best estimate when such costs are probable and reasonably able to be estimated. The ultimate determination can only be done after respective investigations because the concrete conditions are mostly unknown at this time. The accrual is not discounted as management cannot reasonably estimate when such remediation efforts will take place. Other Expense (Income), Net Other expense (income), net generally consists of interest income, royalties , and non-operating income. Income Taxes The Company accounts for income taxes using the liability method. Deferred taxes are recognized for the future effects of temporary differences between financial and income tax reporting using enacted tax rates in effect for the years in which the differences are expected to reverse. The Company recognizes deferred taxes for temporary differences, operating loss carryforwards and tax credit carryforwards. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. U.S. state and non-U.S. income taxes are provided on the portion of non-U.S. income that is expected to be remitted to the U.S. and be taxable (and non-U.S. income taxes are provided on the portion of non-U.S. income that is expected to be remitted to an upper-tier non-U.S. entity). Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Deferred U.S. income taxes and non-U.S. taxes are not provided on the excess of the investment value for financial reporting over the tax basis of investments in those non-U.S. subsidiaries for which such excess is considered to be permanently reinvested in those operations. Management regularly evaluates whether non-U.S. earnings are expected to be permanently reinvested. This evaluation requires judgment about the future operating and liquidity needs of the Company’s foreign subsidiaries. Changes in economic and business conditions, non-U.S. or U.S. tax laws, or the Company’s financial situation could result in changes to these judgments and the need to record additional tax liabilities. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. On December 22, 2017, the U.S. enacted legislation commonly referred to as t he Tax Cuts and Jobs Act (the "Tax Act"). Among other things, the Tax Act reduces the U.S. corporate federal income tax rate from 35% to 21%, adds base broadening provisions which limit deductions and address excessive international tax planning, imposes a one -time tax (the “Toll Charge”) on accumulated earnings of certain non-U.S. subsidiaries and enables repatriation of earnings of non-U.S. subsidiaries free of U.S. federal income tax. Other than the Toll Charge (which is applicable to the Company for 2017 ), the provisions will generally be applicable to the Company in 2018 and beyond. In accordance with the guidance provided in SEC Staff Accounting Bulletin (“SAB”) No. 118, in the fourth quarter of 2017 the Company recorded a charge of $47 million as a provisional reasonable estimate of the impact of the Tax Act, including $49 million for the Toll Charge net of $2 million for other net tax benefits. The Company is continuing to analyze the Tax Act and plans to finalize the estimate within the measurement period outlined in SAB No.118. The final charge may differ from the provisional reasonable estimate if provisions of the Tax Act, and their interaction with other provisions of the U.S. Internal Revenue Code, are interpreted differently than interpretations made by the Company in determining the estimate, whether through issuance of administrative guidance, or through further review of the Tax Act by the Company and its advisors. Aside from these interpretation issues, the final charge may differ from the provisional reasonable estimate due to refinements of accumulated non-U.S. earnings and tax pool data. One of the base broadening provisions of the Tax Act is commonly referred to as the global intangible low-taxed income “ GILTI” provisions. In accordance with guidance issued by the FASB staff, the Company has not adopted an accounting policy for GILTI. Thus, the U.S. balance sheet tax accounts, notably deferred taxes, were computed without consideration of the possible future impact of the GILTI provisions. The Company intends to adopt an accounting policy for GILTI within the measurement period outlined in SAB 118. Fair Value Measurements Certain assets and liabilities are required to be recorded at fair value on a recurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The Company records the fair value of its available-for-sale securities and pension plan assets on a recurring basis. Assets measured at fair value on a nonrecurring basis include long-lived assets held and used, long-lived assets held for sale, goodwill and other intangible assets. The fair value of cash and cash equivalents, accounts receivable, short-term debt and accounts payable approximate their carrying values. The three -tier value hierarchy, which prioritizes valuation methodologies based on the reliability of the inputs, is: Level 1 – Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 – Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 – Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. Reclassifications Certain reclassifications of prior year amounts for Trade receivables, net and Prepaid expenses and other current assets were made to conform to the 2017 presentation. Recently Adopted Accounting Standards In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015 - 11 – “Inventory (Topic 330 ): Simplifying the Measurement of Inventory,” which simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. The update is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted the new standard on January 1, 2017. The adoption of the update did not have a material impact on the Company’s consolidated financial position and results of operations. As a result of the adoption of the update, inventories are stated at the lower of cost or net realizable value. Cost is principally determined using the first -in, first -out method. The Company maintains excess and obsolete allowances against inventory to reduce the carrying value to the expected net realizable value. These allowances are based upon a combination of factors including historical sales volume, market conditions, lower of cost or market analysis and expected realizable value of the inventory. In March 2016, the FASB issued ASU No. 2016 - 09 – “Improvements to Employee Share-Based Payment Accounting,” which amends ASC 718, “Compensation – Stock Compensation.” The update simplifies several aspects of the accounting for employee share-based payment transactions, including accounting for income taxes, forfeitures, and statutory withholding requirements, as well as classification in the Consolidated Statements of Cash Flows. The update is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted the new standard on January 1, 2017. As a result of the adoption, on a prospective basis, the Company recognized $2.0 million of excess tax benefits from stock-based compensation as a discrete item in income tax expense for the year ended December 30, 2017. Historically, these amounts were recorded as additional paid-in capital. The Company also elected to apply the change prospectively to the Consolidated Statements of Cash Flows. As a result, on a prospective basis, share-based payments will be reported as operating activities in the Consolidated Statements of Cash Flows. The Company elected not to change its policy on accounting for forfeitures and will continue to estimate a requisite forfeiture rate. Additional amendments to the accounting for income taxes and minimum statutory withholding requirements had no impact on the results of operations. In January 2017, the FASB issued ASU No. 2017 - 04, “Intangibles-Goodwill and Other” (Topic 350 ). This ASU modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. An entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Because the update will eliminate Step 2 from the goodwill impairment test, it should reduce the cost and complexity of evaluating goodwill for impairment. This ASU is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2020, with early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The ASU did not impact the Company in 2017. Recently Issued Accounting Standards In October 2016, the FASB issued ASU No. 2016 - 16, "Income Taxes ” (Topic 740 ). This ASU update requires entities to recognize the income tax consequences of many intercompany asset transfers at the transaction date. The seller and buyer will immediately recognize the current and deferred income tax consequences of an intercompany transfer of an asset other than inventory. The tax consequences were previously deferred. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. Adoption will require a modified retrospective transition , and is not expected to have a material impact. In March 2016, the FASB issued ASU No. 2016 - 09 – “Improvements to Employee Share-Based Payment Accounting,” which amends ASC 718, “Compensation – Stock Compensation.” The update simplifies several aspects of the accounting for employee share-based payment transactions, including accounting for income taxes, forfeitures, and statutory withholding requirements, as well as classification in the Consolidated Statements of Cash Flows. The update is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted the new standard on January 1, 2017. As a result of the adoption, on a prospective basis, the Company recognized $2.0 million of excess tax benefits from stock-based compensation as a discrete item in income tax expense for the year ended December 30, 2017. Historically, these amounts were recorded as additional paid-in capital. The Company also elected to apply the change prospectively to the Consolidated Statements of Cash Flows. As a result, on a prospective basis, share-based payments will be reported as operating activities in the Consolidated Statements of Cash Flows. The Company elected not to change its policy on accounting for forfeitures and will continue to estimate a requisite forfeiture rate. Additional amendments to the accounting for income taxes and minimum statutory withholding requirements had no impact on the results of operations. In January 2016, the FASB issued ASU No. 2016 - 01, “Financial Instruments-Recognition and Measurement of Financial Assets and Financial Liabilities” which addresses certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. The ASU will require the Company to recognize any changes in the fair value of certain equity investments in net income. These changes are currently recognized in other comprehensive income ("OCI"). This guidance is effective for interim and fiscal years beginning after December 15, 2017. In February 2016, the FASB issued ASU No. 2016 - 02, "Leases" (Topic 842 ). This ASU requires lessees to recognize, on the balance sheet, assets and liabilities for the rights and obligations created by leases of greater than twelve months. The accounting by lessors will remain largely unchanged. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. Adoption will require a modified retrospective transition, and the Company plans to adopt the standard in the first quarter of 2019. The Company is currently evaluating the impact of ASU 2016 - 02. In May 2014, the FASB issued ASU No. 2014 - 09, “Revenue from Contracts with Customers” (Topic 606 ) which supersedes the revenue recognition requirements in ASC 605, “Revenue Recognition.” This ASU provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. In August, 2015, the FASB issued ASU No. 2015 - 14, which postponed the effective date of ASU No. 2014 - 09 to fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted on the original effective date of fiscal years beginning after December 15, 2016. The Company is in the process of finalizing its assessment and the documentation of its evaluation of the new standard. The majority of the Company’s revenue arrangements generally consist of a single performance obligation to transfer promised finished goods. Based on the Company’s evaluation process completed and review of its contracts with customers, the timing and amount of revenue recognized based on ASU 2015 - 14 is consistent with its revenue recognition policy under previous guidance. The Company adopted the new standard effective December 31, 2017, using the modified retrospective approach, and will expand its consolidated financial statement disclosures in order to comply with the ASU. The Company has determined the adoption of ASU 2015 - 14 will not have a material impact on its results of operations, cash flows, or financial position.

Note 2 - Acquisitions and Dispositions

12 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

. Acquisitions and Dispositions

The

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

805,

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

Subsequent Event

IXYS Corporation

January 17, 2018,

the

Company acquired IXYS Corporation (“IXYS”), a global pioneer in the power semiconductor and integrated circuit markets with a focus on medium to high voltage power control semiconductors across the industrial, communications, consumer and medical markets. IXYS has a broad customer base, serving more than

3,500

customers through its direct sales force and global distribution partners. The acquisition of IXYS is expected to accelerate the Company’s growth across the power control market driven by IXYS’s extensive power semiconductor portfolio and technology expertise. With IXYS, the Company will be able to diversify and expand its presence within industrial electronics markets, leveraging the strong IXYS industrial OEM customer base. The Company also expects to increase long-term penetration of its power semiconductor portfolio in automotive markets, expanding its global content per vehicle.

The Company has commenced the determination of the purchase price allocation.

Upon completion of the acquisition, at IXYS stockholders’ election and subject to proration, each share of IXYS common stock, par value

$0.01

per share, owned immediately prior to the effective time were cancelled and extinguished and automatically converted into the right to receive: (i)

$23.00

in cash (subject to applicable withholding tax), without interest (referred to as the cash consideration), or (ii)

0.1265

of a share of common stock, par value

$0.01

per share, of Littelfuse (referred to as the stock consideration and together with the cash consideration, the merger consideration). IXYS stockholders received cash in lieu of any fractional shares of Littelfuse common stock that the IXYS stockholders would otherwise have been entitled to receive. Additionally, each outstanding option to purchase shares of IXYS common stock granted under an IXYS equity plan were assumed by Littelfuse and converted into an option to acquire (i) a number of shares of Littelfuse common stock equal to the number of shares of IXYS common stock subject to such option immediately prior to the effective time multiplied by

0.1265,

rounded down to the nearest whole share, with (ii) an exercise price per share of Littelfuse common stock equal to the exercise price of such IXYS stock option immediately prior to the effective time divided by

0.1265,

rounded up to the nearest whole cent.

Based on the

$207.5

per share opening price of Littelfuse common stock on

January 17, 2018,

the consideration IXYS stockholders received in exchange of their IXYS common stock in the acquisition had a value of approximately

$814.8

million comprised of

$380.5

million of cash and

$434.2

million of Littelfuse stock. In addition to the consideration transferred related to IXYS common stock, the value of consideration transferred, and included in the purchase price, related to IXYS stock options that were converted to Littelfuse stock options, or cash settled, had a value of approximately

$41.7

million. As a result, total consideration is valued at approximately

$856.5

million. The Company is in the process of estimating the purchase price allocation.

2017

Acquisitions

U.S. Sensor

July 7, 2017,

the Company acquired the assets of U.S. Sensor Corporation (“U.S. Sensor”). The acquisition purchase price of

$24.3

million, net of the finalization of an income tax gross up which was settled in the

fourth

quarter of

2017,

was funded with available cash

. The acquired business

expands the Company’s existing sensor portfolio in several key electronics and industrial end markets. U.S. Sensor manufactures a variety of high quality negative temperature coefficient thermistors as well as thermistor probes and assemblies. Product lines also include thin film platinum resistance temperature detectors (“RTDs”) and RTD assemblies.

The following table summarizes the purchase price allocation of the fair value of assets acquired and liabilities assumed in the U.S. Sensor acquisition:

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash	$	24,340
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	4,635
Patented and unpatented technologies		1,090
Trademarks and tradenames		200
Non-compete agreement		50
Customer relationships		2,830
Goodwill		16,075
Current liabilities		(540	)
	$	24,340

Included in U.S. Sensor

’s current assets, net was approximately

$1.5

million of receivables. All U.S. Sensor goodwill, other assets and liabilities were recorded in the Electronics segment and reflected in the United States geographic area. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining U.S. Sensor’s products and technology with the Company’s existing electronics product portfolio. Goodwill for the above acquisition is expected to be deductible for tax purposes.

As required by purchase accounting rules, the

Company recorded a

$1.6

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

third

quarter of

2017,

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

Monolith

December 2015,

the Company invested

$3.5

million in the preferred stock of Monolith Semiconductor Inc. (

“Monolith”), a U.S. start-up Company developing silicon carbide technology, which represented approximately

12%

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

$3.5

million at

December 31, 2016.

February 28, 2017,

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

62%

of the outstanding common stock of Monolith for

$15

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

$1.0

million to

$10

million and will be paid

later than

June 30, 2019.

The additional investment resulted in the Company gaining control of Monolith and was accounted for as a step-acquisition with the fair value of the original investment immediately before the acquisition estimated to be approximately

$3.5

million. As the

fair value of the investment immediately prior to the transaction equaled the carrying value, there was

impact on the Company’s Consolidated Statements of Net Income. As the Securities Purchase Agreement includes an obligation of the Company to mandatorily redeem the non-controlling interest for cash, the fair value of the non-controlling interest was recognized as a liability on the Company’s Consolidated Balance Sheets. Changes in the fair value of the non-controlling interest are recognized in the Company’s Consolidated Statements of Net Income.

Commencing

March 1, 2017,

Monolith was reflected as a consolidated subsidiary within the Company

’s Consolidated Financial Statements. Had the acquisition occurred as of

January

2017,

the impact on the Company’s consolidated results of operations would

not

have been material.

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

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

Included in Monolith

’s current assets, net was approximately

$0.7

million of receivables. All Monolith goodwill, other assets and liabilities were recorded in the Electronics segment and reflected in the United States geographic area. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining Monolith’s products and technology with the Company’s existing electronics product portfolio. Goodwill for the above acquisition is

not

expected to be deductible for tax purposes.

2016

Acquisitions

ON Portfolio

August 29, 2016,

the

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

$104.0

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

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

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

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

ON Portfolio acquisition:

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

All the ON Portfolio business goodwill and other assets were recorded in the Electronics segment and are reflected in the Americas and Europe geographic areas. The customer relationships are being amortized over

13.5

years. The patented and unpatented technologies are being amortized over

8.5

years. The non-compete agreement is being amortized over

years. The goodwill resulting from this acquisition consists largely of the

Company’s expected future product sales and synergies from combining the ON Portfolio products with the Company’s existing

power semiconductor product portfolio.

$7.3

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

As required by purchase accounting rules, the

Company recorded a

$0.7

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

2016,

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

Included in the

Company’s Consolidated Statements of Net Income for the year ended

December 31, 2016

are net sales of approximately

$21.8

million since the

August 29, 2016

acquisition of the ON Portfolio business.

Menber

’s

April 4, 2016,

the

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

$19.2

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

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

Menber’s acquisition:

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

All Menber

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

years. The patented and unpatented technologies are being amortized over

years. The trademarks and tradenames are being amortized over

years. The goodwill resulting from this acquisition consists largely of the Company’s expected future product sales and synergies from combining Menber’s products with the Company’s existing automotive product portfolio. Goodwill for the above acquisition is

not

expected to be deductible for tax purposes.

As required by purchase accounting rules, the

Company recorded a

$0.2

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

2016,

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

Included in the

Company’s Consolidated Statements of Net Income for the year ended

December 31, 2016

are net sales of approximately

$17.3

million since the

April 4, 2016

acquisition of Menber’s.

PolySwitch

March 25, 2016,

the

Company acquired

100%

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

$348.3

million, net of acquired cash and after settlement of certain post-closing adjustments. The Company funded the acquisition with available cash on hand and borrowings under the Company’s revolving credit facility. The PolySwitch business, which is split between the Automotive and Electronics segments,

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

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

PolySwitch acquisition:

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

All PolySwitch goodwill and other assets and liabilities were recorded in the Electronics

and Automotive segments and reflected in all geographic areas. The customer relationships are being amortized over

years. The patented and unpatented technologies are being amortized over

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

$103.8

million and

$61.3

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

$64.9

million expected to be deductible for tax purposes.

As required by purchase accounting rules, the

Company recorded a

$6.9

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

second

quarter of

2016,

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

Included in the

Company’s Consolidated Statements of Net Income for the year ended

December 31, 2016

are net sales of approximately

$126.5

million since the

March 25, 2016

acquisition of PolySwitch.

2016

Dispositions

During the

first

quarter of

2016,

the

Company sold its tangible and intangible assets relating to a marine product line that it acquired as part of its acquisition of Selco A/S in

2011.

In connection with this sale, the Company recorded a loss on sale of the product line of

$1.4

million reflected within selling, general, and administrative expenses for the year ended

December 31, 2016.

This loss was recognized as an “other” charge for segment reporting purposes.

2015

Acquisitions

Sigmar S.r.l

October 1, 2015,

the

Company acquired

100%

of Sigmar S.r.l. (“Sigmar”). The total purchase price for Sigmar was

$6.5

million, net of cash acquired and including estimated additional net payments of up to

$0.9

million, a portion of which is subject to the achievement of certain milestones.

Located in Ozegna, Italy, Sigmar is a leading global manufacturer of water-in-fuel sensors and also manufactures selective catalytic reduction (

“SCR”) quality sensors and diesel fuel heaters for automotive and commercial vehicle applications. The acquisition further expanded the Company’s automotive sensor product line offerings within its Automotive segment. The Company funded the acquisition with available cash.

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

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash, net of acquired cash	$	5,558
Estimated additional consideration payable		901
Total purchase consideration	$	6,459
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	$	2,519
Property, plant, and equipment		1,097
Goodwill		4,084
Patents		2,845
Current liabilities		(1,518	)
Other non-current liabilities		(2,568	)
	$	6,459

All Sigmar goodwill and other assets and liabilities were recorded in the Automotive segment and reflected in the Europe geographic area. The patents are being amortized over

years. The goodwill resulting from this acquisition consists largely of the

Company’s expected future product sales and synergies from combining Sigmar’s products with the Company’s existing automotive product offerings. Goodwill for the above acquisition is

not

expected to be deductible for tax purposes.

Pro Forma Results

The following table summarizes, on a pro forma basis, the combined results of operations of the

Company and the acquired PolySwitch and the ON Portfolio businesses as though the acquisitions had occurred as of

December 28, 2014.

The Company has

not

included pro forma results of operations for Menber’s or Sigmar as these results were

not

material to the Company. The pro forma amounts presented are

not

necessarily indicative of either the actual consolidated results had the PolySwitch or ON Portfolio acquisitions occurred as of

December 28, 2014

or of future consolidated operating results.

	For the Year Ended
(in thousands, except per share amounts)	2016		2015
Net sales	$	1,130,645	$	1,104,838
Income before income taxes		143,110		120,370
Net income		124,388		92,983
Net income per share — basic		5.51		4.12
Net income per share — diluted		5.47		4.09

Pro forma results presented above primarily reflect: (

i) incremental depreciation relating to fair value adjustments to property, plant, and equipment; (ii) amortization adjustments relating to fair value estimates of intangible assets; (iii) incremental interest expense on assumed indebtedness; and (iv) additional cost of goods sold relating to the capitalization of gross profit as part of purchase accounting recognized for purposes of the pro forma as if it was recognized during the Company’s

first

quarter of

2015.

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

The historical PolySwitch and ON Portfolio business results for the years ended

December 31, 2016

and

January 2, 2016

not

include a provision for income taxes. Income tax expense for the historical PolySwitch business was only provided at the end of the business

’s fiscal year ended

September 25, 2015.

Income tax expense for the historical ON Portfolio business was

not

provided on a standalone basis.

Note 3 - Inventories

12 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Inventory Disclosure [Text Block]

. Inventories

The components of inventories at

December 3

2017

and

December 31, 2016

are as follows:

(in thousands)	201 7		201 6
Raw materials	$	39,030	$	32,231
Work in process		27,454		23,354
Finished goods		74,305		58,478
Total	$	140,789	$	114,063

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 4 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other Intangible Assets

The amounts for goodwill and changes in the carrying value by segment are as follows:

(in thousands)	Electronics			Automotive			Industrial			Total
As of January 2, 2016	$	58,246		$	80,262		$	51,259		$	189,767
Additions (a)		162,172			70,762			—			232,934
Impairments ( b )		—			—			(8,794	)		(8,794	)
A djustments ( c )		(4,653	)		(6,439	)		729			(10,363	)
As of December 31, 2016	$	215,765		$	144,585		$	43,194		$	403,544
Additions ( d )		36,716			—			—			36,716
Adjustments ( e )		26,478			(8,756	)		(4,568	)		13,154
As of December 30, 2017	$	278,959		$	135,829		$	38,626		$	453,414

(a)

The

2016

additions resulted primarily from the acquisitions of PolySwitch, ON and Menber’s.

(

The

2016

impairments in the Industrial segment was due to the

$8.8

million impairment of Custom Products reporting unit goodwill.

(

Adjustments in

2016

reflect the impact of changes in foreign exchange rates.

	( d)	The 2017 additions resulted from the acquisitions of U.S. Sensor and Monolith.

	(e)	Adjustments in 2017 reflect adjustments to reclass goodwill by segment as well as the impact of changes in foreign exchange rates. The impact of the reclassification was an increase in goodwill to the Electronics segment of $21.6 million and a decrease of goodwill of $16.8 million and $4.8 million to the Automotive segment and the Industrial segment, respectively.

Due to negative events in the potash market in

2016,

management revisited its long-term projections and conducted a step

one

goodwill impairment analysis for its

Custom Products reporting unit in the

third

quarter of

2016.

The reporting unit failed the step

one

test and management conducted a step

two

analysis. The fair value of the unit was estimated using the expected present value of future cash flows over a

seven

-year forecast period and appraisal of certain assets. As a result, the Company recognized a charge for goodwill impairment of

$8.8

million as it wrote off the entire goodwill balance.

The

components of other intangible assets at

December 30, 2017

and

December 31, 2016

are as follows:

	As of December 30, 2017
(in thousands)	Weighted Average Useful Life	Gross Carrying Value		Accumulated Amortization		Net Book Value
Patents, licenses and software	11.4	$	141,520	$	59,609	$	81,911
Distribution network	12.1		46,233		33,361		12,872
Customer relationships, trademarks and tradenames	15.6		162,679		53,612		109,067
Total		$	350,432	$	146,582	$	203,850

	As of December 31, 2016
(in thousands)	Weighted Average Useful Life	Gross Carrying Value		Accumulated Amortization		Net Book Value
Patents, licenses and software	11.4	$	131,611	$	48,004	$	83,607
Distribution network	12.1		49,150		30,155		18,995
Customer relationships, trademarks and tradenames	14.4		150,887		40,463		110,424
Total		$	331,648	$	118,622	$	213,026

During the year ended

December 31, 2016,

the Company recognized non-cash impairment charges totaling

$6.0

million, of which

$2.2

million related to the impairment of certain customer relationship intangib

le assets in the Custom Products reporting unit within the Industrial segment and

$3.8

million related to the impairment of the Custom Products tradename. The impairment of the customer relationship intangible assets resulted from lower expectations of future revenue to be derived from those relationships while the tradename impairment resulted from lower expectations of future cash flows of the Custom Products reporting unit.

During the years ended

December 30, 2017

and

December 31, 2016,

the Company recorded additions to other intangible assets of

$11.0

million and

$144.4

million, respectively, for acquisitions during those years, the components of which were as follows:

	2017			2016
(in thousands)	Weighted Average Useful Life	Amount		Weighted Average Useful Life	Amount
Patents, licenses and software	9.6	$	7,810	9.6	$	65,449
Customer relationships, trademarks and tradenames	9.0		3,220	13.5		78,919
Total		$	11,030		$	144,368

For intangible assets with definite lives, the Company recorded amortization expense of

$24.7

million,

$19.3

million, and

$11.9

million in

2017,

2016,

and

2015,

respectively.

Estimated amortization expense related to intangible assets with definite lives at

December 30, 2017

is as follows:

(in thousands )	Amount
2018	$	25,689
2019		25,528
2020		24,879
2021		23,093
2022		22,058
2023 and thereafter		82,603
	$	203,850

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Note 5 - Lease Commitments

12 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Commitments Disclosure [Text Block]

Lease Commitments

The

Company leases certain office and warehouse space as well as certain machinery and equipment under non-cancellable operating leases. Rent expense under these leases was

$11.6

million,

$12.6

million, and

$11.1

million in

2017,

2016,

and

2015,

respectively.

Rent expense is recognized on a straight-line basis over the term of the leases. The difference between straight-line basis rent and the amount paid has been recorded as accrued lease obligations. The

Company also has leases that have lease renewal provisions. As of

December 30, 2017,

all operating leases outstanding were with

third

parties. The Company did

not

have any capital leases as of

December 30, 2017

Future minimum payments for all non-cancellable operating leases with initial terms of

one

year or more at D

ecember

30,

2017

are as follows:

(in thousands )	Future Minimum Payments
201 8	$	10,842
201 9		6,194
20 20		5,425
202 1		4,632
202 2		3,464
202 3 and thereafter		5,021
	$	35,578

Note 6 - Debt

12 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Debt Disclosure [Text Block]

. Debt

The carrying amounts of debt at

December 3

2017

and

December 31, 2016

are as follows:

(in thousands )	201 7			2016
Revolving Credit Facility	$	—		$	112,500
Term Loan		122,500			120,313
Entrusted loan		—			3,522
Euro Senior Notes, Series A due 2023		139,623			122,313
Euro Senior Notes, Series B due 2028		113,369			99,314
U .S. Senior Notes, Series A due 2022		25,000			—
U .S. Senior Notes, Series B due 2027		100,000			—
Unamortized debt issuance costs		(4,881	)		(3,820	)
Total debt		495,611			454,142
Less: Current maturities		(6,250	)		(6,250	)
Total long-term debt	$	489,361		$	447,892

Revolving Credit Facility / Term Loan

March 4, 2016,

the Company entered into a

five

-year credit agreement (“Credit Agreement”) with a group of lenders for up to

$700.0

million. The Credit Agreement consisted of an unsecured revolving credit facility (“Revolving Credit Facility”) of

$575.0

million and an unsecured term loan credit facility (“Term Loan”) of up to

$125.0

million. In addition, the Company had the ability, from time to time, to increase the size of the Revolving Credit Facility and the Term Loan by up to an additional

$150.0

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

$25.0

million, subject to certain conditions and the agreement of participating lenders. For the Term Loan, the Company was required to make quarterly principal payments of

$1.6

million through

March 31, 2018

and

$3.1

million from

June 30, 2018

through

December 31, 2020

with the remaining balance due on

March 4, 2021.

October 13, 2017,

the Company amended

the Credit Agreement to increase the Revolving Credit Facility from

$575.0

million to

$700.0

million and increase the Term Loan from

$125.0

million to

$200.0

million and to extend the expiration date from

March 4, 2021

October 13, 2022.

The Credit Agreement also includes the option for the Company to increase the size of the Revolving Credit Facility and the Term Loan by up to an additional

$300.0

million, in the aggregate, subject to the satisfaction of certain conditions set forth in the Credit Agreement. Term Loans

may

be made in up to

two

advances. The

first

advance of

$125.0

million occurred on

October 13, 2017

and the

second

advance of

$75.0

million occurred on

January 16, 2018.

For the Term Loan, the Company is required to make quarterly principal payments of

1.25%

of the original term loan (

$1.6

million as of

December 30, 2017

increasing to

$2.5

million with the

second

advance on

January 16, 2018)

through maturity, with the remaining balance due on

October 13, 2022.

Outstanding borrowings under the

Credit Agreement bear interest, at the Company’s option, at either LIBOR, fixed for interest periods of one, two,

three

six

-month periods, plus

1.00%

2.00%,

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

0.00%

1.00%,

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

0.15%

0.25%,

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

3.07%

December 30, 2017.

As of

December 3

2017,

the Company had

$0.1

million outstanding in letters of credit and had available

$699.9

million of borrowing capacity under the Revolving Credit Facility. At

December 30, 2017,

the Company was in compliance with all covenants under the Credit Agreement.

Senior Notes

December 8, 2016,

the

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

€212

million aggregate principal amount of senior notes in

two

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

December 8, 2016

for

€117

million in aggregate amount of

1.14%

Senior Notes, Series A, due

December 8, 2023 (

“Euro Senior Notes, Series A due

2023”

)

, and

€95

million in aggregate amount of

1.83%

Senior Notes, Series B due

December 8, 2028 (

“Euro Senior Notes, Series B due

2028”

)

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

June 8

and

December 8,

commencing

June 8, 2017.

December 8, 2016,

the

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

$125

million aggregate principal amount of senior notes in

two

series. On

February 15, 2017,

$25

million in aggregate principal amount of

3.03%

Senior Notes, Series A, due

February 15, 2022 (

“U.S. Senior Notes, Series A due

2022”

)

, and

$100

million in aggregate principal amount of

3.74%

Senior Notes, Series B, due

February 15, 2027 (

“U.S. Senior Notes, Series B due

2027”

)

(together, the “U.S. Senior Notes due

2022

and

2027”

) were funded. Interest on the U.S. Senior Notes due

2022

and

2027

is payable semiannually on

February 15

and

August 15,

commencing

August 15, 2017.

November 15, 2017,

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

$175

million in aggregate principal amount of senior notes in

two

series. On

January 16, 2018,

$50

million aggregate principal amount of

3.48%

Senior Notes, Series A, due

February 15, 2025

(“U.S. Senior Notes, Series A due

2025”

)

and

$125

million in aggregate principal amount of

3.78%

Senior Notes, Series B, due

February 15, 2030 (

“U.S. Senior Notes, Series A due

2030”

)

(together the “U.S. Senior Notes due

2025

and

2030”

and with the Euro Senior Notes and the U.S. Senior Notes

2022

and

2027,

the “Senior Notes”) were funded. Interest on the U.S. Senior Notes due

2025

and

2030

will be payable on

February 15

and

August 15,

commencing on

August 15, 2018.

The Senior Notes have

not

been registered under the Securities Act, or applicable state securities laws. The Senior Notes are general unsecured senior obligations and rank equal in right of payment with all existing and future unsecured unsubordinated indebtedness of the

Company.

The Senior Notes are subject to certain customary covenants, including limitations on the

Company’s ability, with certain exceptions, to engage in mergers, consolidations, asset sales and transactions with affiliates, to engage in any business that would substantially change the general business of the Company, and to incur liens. In addition, the Company is required to satisfy certain financial covenants and tests relating to, among other matters, interest coverage and leverage. At

December 30, 2017,

the Company was in compliance with all covenants under the Senior Notes.

The

Company

may

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

Debt Issuance Costs

The

Company incurred debt issuance costs of

$1.6

million in relation to the Credit Agreement which, along with the remaining balance of debt issuance costs of the previous credit facility, are being amortized over the life of the Credit Agreement. The Company additionally incurred aggregate debt issuance costs of

$2.6

million in relation to the Senior Notes which are being amortized over the respective lives of the Series A and B notes.

Entrusted Loan

During

2014,

the

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

Chinese renminbi

110.0

million (approximately U.S.

$17.9

million) between

two

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

two

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

third

-party agent to enable loans between Chinese legal entities. As a result, the Entrusted Loan is reflected as both a long-term asset and long-term debt on the Company’s Consolidated Balance Sheets and is reflected in the investing and financing activities in its Consolidated Statements of Cash Flows. Interest expense and interest income will be recorded between the lender and borrower with

net impact on the Company’s Consolidated Statements of Income since the amounts will be offsetting. The loan interest rate per annum is

5.25%.

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

November 2019.

The balance of the Entrusted Loan was paid off as of

September 30, 2017.

Interest paid on all

Company debt was approximately

$13.4

million,

$8.6

million, and

$4.1

million in

2017,

2016,

and

2015,

respectively.

Debt Maturities

Scheduled maturities of the

Company’s long-term debt for each of the

five

years succeeding

December 30, 2017

and thereafter are summarized as follows:

(in thousands )	Scheduled Maturities
201 8	$	6,250
201 9		6,250
20 20		6,250
202 1		6,250
202 2		122,500
202 3 and thereafter		352,992
	$	500,492

Note 7 - Fair Value of Assets and Liabilities

12 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Fair Value Disclosures [Text Block]

. Fair Value of Assets and Liabilities

For assets and liabilities measured at fair value on a recurring and nonrecurring basis, a

three

-level hierarchy of measurements based upon observable and unobservable inputs is used to arrive at fair value. Observable inputs are developed based on market data obtained from independent sources, while unobservable inputs reflect

the Company’s assumptions about valuation based on the best information available in the circumstances. Depending on the inputs, the Company classifies each fair value measurement as follows

Level

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

Level

—Valuations based upon quoted prices for similar instruments, prices for identical or similar instruments in markets that are

not

active, or model-derived valuations, all of whose significant inputs are observable, and

Level

—

Valuations

based upon

one

or more significant unobservable inputs.

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

Investments

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

and classified within Level

of the valuation hierarchy. Such securities are further detailed in Note

Summary of Significant Accounting Policies and Other Information

Defined Benefit Plan Assets / Non-qualified Supplemental Retirement and Savings Plan

Investments

See

Note

Benefit Plans

for description of valuation methodologies and investment balances for defined benefit plan assets and investments related to the Company’s Non-Qualified Supplemental Retirement and Savings Plan.

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

as of

December 30, 2017:

	Fair Value Measurements Using
(in thousands )	Level 1		Level 2		Level 3		Total
Investment in Polytronics	$	10,993	$	—	$	—	$	10,993

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

December 31, 2016:

	Fair Value Measurements Using
(in thousands )	Level 1		Level 2		Level 3		Total
Investment in Polytronics	$	10,435	$	—	$	—	$	10,435

Ther

e were

changes during

2017

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

December 30, 2017

and

December 31, 2016,

the Company held

non-financial assets or liabilities that are required to be measured at fair value on a recurring basis.

In addition to the methods and assumptions used for the financial instruments recorded at fair value as discussed above, the following methods and assumptions are used to estimate the fair value of other financial instruments that are

not

marked to market on a recurring basis. The

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

December 30, 2017

and

December 31, 2016,

as the rates on these borrowings are variable in nature.

The carrying value and estimated fair values of the

Company’s Euro Senior Notes, Series A and Series B and U.S. Senior Notes, Series A and Series B, as of

December 30, 2017

and

December 31, 2016

were as follows:

	2017				2016
(in thousands )	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Euro Senior Notes, Series A due 2023	$	139,623	$	138,294	$	122,313	$	122,586
Euro Senior Notes, Series B due 2028		113,369		111,579		95,314		99,230
U .S. Senior Notes, Series A due 2022		25,000		24,737		25,000		24,746
U .S. Senior Notes, Series B due 2027		100,000		99,992		100,000		98,660

The fair value as of the measurement date, net book value as of the end of the year and related impairment charge for assets measured at fair value on a nonrecurring basis subsequent to initial recognition during the years ended

December 31, 2016

were as follows:

	Year Ended December 31, 2016				As of December 31, 2016
(in thousands )	Impairment Charge		Fair Value Measurement (Level 3)		Net Book Value
Goodwill	$	8,794	$	—	$	—
Other intangible assets		6,015		680		660
Total	$	14,809	$	680	$	660

During the

year ended

December 31, 2016,

the goodwill related to the Custom Products reporting unit was written down to its implied fair value of

zero

. In addition, the company recorded a

$6.0

million impairment charge, including

$3.8

million related to the Custom Products trade name and

$2.2

million for the customer relationship intangible assets. After recording the impairment charges, there was

remaining value related to the customer relationship intangible assets while

$0.7

million remaining net book value related to the tradename.

The company

’s accounting and finance management determines the valuation policies and procedures for Level

fair value measurements and is responsible for the development and determination of unobservable inputs. The following table presents the fair value, valuation techniques and related unobservable inputs for these Level

measurements for the year ended

December 31, 2016:

(in thousands , except rates data )	Fair Value		Valuation Technique	Unobservable Inputs	Rates
Tradename	$	680	Relief from royalty	Discount rate:		18%
				R oyalty rate:		1%

Customer relationships	$	—	Excess earnings	Discount rate:		18%
				Attrition rate:		5%

- Definition

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

+ References + Details

Note 8 - Benefit Plans

12 Months Ended

Dec. 30, 2017

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

. Benefit Plans

The

Company has Company-sponsored defined benefit pension plans covering employees in the U.K., Germany, the Philippines, China, Japan, Mexico, Italy and France. The amount of the retirement benefits provided under the plans is based on years of service and final average pay.

PolySwitch Acquisition

During

2016,

as a result of the PolySwitch acquisition, past service l

iabilities were assumed by the Company in mainland China, France, Germany, Japan, Mexico, and Taiwan (China), together with a small amount of plan assets in Taiwan (China).

Littelfuse Inc. Retirement Plan Termination

The company received approval from the IRS on

April 14, 2015

on its Application for Determination for Terminating Plan to terminate the U.S. defined benefit pension plan, the Littelfuse Inc. Retirement Plan, effective

July 30, 2014.

All plan liabilities were settled (either via lump sum payout or purchase of a group annuity contract) in the

third

quarter of

2015.

A cash contribution of

$9.1

million was made to the U.S. defined benefit plan

’s trust in the

third

quarter of

2015

to fully fund the plan on a buyout basis, and the eventual settlement of the plan’s liabilities triggered a settlement charge of

$30.2

million in the

third

quarter of

2015.

In the

fourth

quarter of

2015

there was an adjustment to the price of the annuity contract which resulted in a refund of premium to the company of

$0.3

million. This refund of premium, effectively a re-measurement gain, was recognized in the

fourth

quarter of

2015

as a dollar-for-dollar adjustment to the

$30.2

million earnings charge recognized in the

third

quarter of

2015,

resulting in a final settlement loss of

$29.9

million for the fiscal year ended

January 2, 2016.

During

2016,

there were

two

further adjustments to the price of the annuity contract. Their combined effect resulted in a further refund of premium to the company of

$0.3

million. This refund of premium was considered additional actual return on the assets during

2016,

followed by a negative employer contribution of that same amount in the asset reconciliation table below.

Benefit plan related information is as follows

for the years

2017

and

2016:

(in thousands )	2017			2016
Change in benefit obligation:
Benefit obligation at beginning of year	$	55,606		$	50,282
Service cost		2,037			1,509
Interest cost		1,887			1,662
Net actuarial loss (gain)		(433	)		10,190
Benefits paid from the trust		(1,405	)		(2,329	)
Benefits paid directly by the Company		(1,098	)		250
Curtailments and settlements		(31	)		(427	)
Acquisitions		—			2,023
Effect of exchange rate movements		5,477			(7,554	)
Other		5,228			—
Benefit obligation at end of year	$	67,268		$	55,606

Change in plan assets at fair value:
Fair value of plan assets at beginning of year	$	42,208		$	44,629
Actual return on plan assets		2,962			6,929
Employer contributions		264			(126	)
Benefits paid		(1,405	)		(2,329	)
Acquisitions		—			24
Effect of exchange rate movements		4,094			(6,919	)
Fair value of plan assets at end of year		48,123			42,208
Net amount recognized/(unfunded status)	$	(19,145	)	$	(13,398	)

Amounts recognized in the Consolidated Balance Sheet

s as of

December 30, 2017

and

December 31, 2016

consist of the following:

(in thousands )	2017			2016
Amounts recognized in the Consolidated Balance Sheet s consist of:
Noncurrent assets	$	78		$	—
Current benefit liability		(481	)		—
Noncurrent benefit liability		(18,742	)		(13,398	)
Net liability recognized	$	(19,145	)	$	(13,398	)

Amounts recognized in accumulated other comprehensive income (loss), pre-tax

as of

December 30, 2017

and

December 31, 2016

consist of:

(in thousands )	2017		2016
Net actuarial loss	$	12,261	$	13,107
Prior service (cost)		—		—
Net amount recognized , pre-tax	$	12,261	$	13,107

The estimated net actuarial loss (gain) which will be amortized from accumulated other comprehensive income

(loss) into benefit cost in

2018

approximately

$0.3

million.

The components of pension exp

ense for the years

2017,

2016,

and

2015

are as follows:

							2015
(in thousands )	2017			2016			U.S.			Foreign			Total
Components of net periodic benefit cost:
Service cost	$	2,037		$	1,509		$	750		$	824		$	1,574
Interest cost		1,887			1,662			3,093			1,735			4,828
Expected return on plan assets		(1,990	)		(1,935	)		(2,749	)		(2,346	)