Related Party Transactions |
3 Months Ended |
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Apr. 01, 2017 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
12. RELATED PARTY TRANSACTIONS Enovation Controls purchases and sells inventory to an entity partially owned by one of its officers. For the quarter ended April 1, 2017, sales to, and purchases from, the entity for inventory totaled $756 and $2,448, respectively. At April 1, 2017, amounts due from, and due to, the entity for inventory sales and purchases totaled $165 and $557, respectively. In addition to these inventory transactions, Enovation Controls entered into a transition services agreement with the related party to provide, and receive, certain transition services for a period of up to 6 months for the majority of the services and up to one year for specified services. For the quarter ended April 1, 2017, sales and cost of sales recognized by Enovation Controls under the agreement totaled $650 and $479, respectively, and are included in miscellaneous expense, net in the Consolidated Statement of Operations. For the quarter ended April 1, 2017, purchases from the related party under the agreement totaled $411. At April 1, 2017, amounts due from, and due to, the related party under the transition services agreement totaled $650 and $411, respectively. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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