| Statement [Line Items] | Period [Axis] |
|---|
2016-01-03 - 2016-12-31 |
|---|
Schedule of Components of Income Tax Expense (Benefit) |
The following
tables summarize the Company’s consolidated provision for US
federal, state and foreign taxes on income:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2016 |
|
|
January 2,
2016 |
|
|
January 3,
2015 |
|
|
Current:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US federal
|
|
$ |
(15,254 |
) |
|
$ |
(6,862 |
) |
|
$ |
12,904 |
|
|
State
|
|
|
604 |
|
|
|
1,859 |
|
|
|
(131 |
) |
|
Foreign
|
|
|
20,191 |
|
|
|
15,740 |
|
|
|
24,059 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,541 |
|
|
$ |
10,737 |
|
|
$ |
36,832 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US federal
|
|
$ |
10,980 |
|
|
$ |
10,756 |
|
|
$ |
25,162 |
|
|
State
|
|
|
1,877 |
|
|
|
1,890 |
|
|
|
2,876 |
|
|
Foreign
|
|
|
(1,764 |
) |
|
|
(548 |
) |
|
|
1,061 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
11,093 |
|
|
$ |
12,098 |
|
|
$ |
29,099 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total tax
provision
|
|
$ |
16,634 |
|
|
$ |
22,835 |
|
|
$ |
65,931 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Income before Income Tax, Domestic and Foreign |
The components
of the Company’s consolidated income before income taxes
consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2016 |
|
|
January 2,
2016 |
|
|
January 3,
2015 |
|
|
Domestic
|
|
$ |
26,367 |
|
|
$ |
6,299 |
|
|
$ |
88,024 |
|
|
Foreign
|
|
|
57,760 |
|
|
|
49,315 |
|
|
|
95,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
84,127 |
|
|
$ |
55,614 |
|
|
$ |
183,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Effective Income Tax Rate Reconciliation |
The difference
between the US federal statutory tax rate and the Company’s
consolidated effective tax rate is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2016 |
|
|
January 2,
2016 |
|
|
January 3,
2015 |
|
|
US federal statutory
rate
|
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
Research and development
credit
|
|
|
(19.5 |
) |
|
|
0.0 |
|
|
|
0.0 |
|
|
Reserves for uncertain tax
positions
|
|
|
2.9 |
|
|
|
3.5 |
|
|
|
0.4 |
|
|
Out-of-period
adjustments
|
|
|
2.6 |
|
|
|
4.5 |
|
|
|
0.0 |
|
|
States income taxes (net of
federal benefit)
|
|
|
2.0 |
|
|
|
3.8 |
|
|
|
1.3 |
|
|
Foreign taxes
|
|
|
(0.1 |
) |
|
|
(0.4 |
) |
|
|
(0.6 |
) |
|
(Decrease) increase in
valuation allowance
|
|
|
(2.3 |
) |
|
|
(2.2 |
) |
|
|
1.7 |
|
|
Loss on closure of
China
|
|
|
0.0 |
|
|
|
0.0 |
|
|
|
(2.1 |
) |
|
Other
|
|
|
(0.8 |
) |
|
|
(3.1 |
) |
|
|
0.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
|
|
19.8 |
% |
|
|
41.1 |
% |
|
|
35.9 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Deferred Tax Assets and Liabilities |
The deferred tax
assets and liabilities recorded on the Company’s consolidated
balance sheets are as follows:
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2016 |
|
|
January 2,
2016 |
|
|
Provision for estimated
expenses
|
|
$ |
4,269 |
|
|
$ |
4,638 |
|
|
Depreciation
|
|
|
2,230 |
|
|
|
4,164 |
|
|
Operating loss
carryforwards
|
|
|
24,560 |
|
|
|
34,285 |
|
|
Salaries and
wages
|
|
|
2,832 |
|
|
|
641 |
|
|
Share-based
compensation
|
|
|
13,374 |
|
|
|
14,330 |
|
|
Foreign tax credit
carryforwards
|
|
|
4,075 |
|
|
|
0 |
|
|
Other
|
|
|
12,154 |
|
|
|
8,024 |
|
|
Other comprehensive
income
|
|
|
18,001 |
|
|
|
24,778 |
|
|
Less: valuation
allowance
|
|
|
(18,270 |
) |
|
|
(28,279 |
) |
|
|
|
|
|
|
|
|
|
|
Total deferred tax
assets
|
|
$ |
63,225 |
|
|
$ |
62,581 |
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
$ |
(1,209 |
) |
|
$ |
(1,823 |
) |
|
Amortization
|
|
|
(229,559 |
) |
|
|
(210,901 |
) |
|
|
|
|
|
|
|
|
|
|
Total deferred tax
liabilities
|
|
$ |
(230,768 |
) |
|
$ |
(212,724 |
) |
|
|
|
|
|
|
|
|
|
|
Net deferred tax
liabilities
|
|
$ |
(167,543 |
) |
|
$ |
(150,143 |
) |
|
|
|
|
|
|
|
|
|
|
Reconciliation of Unrecognized Tax Benefits |
A
reconciliation of the beginning and ending amount of unrecognized
tax benefits is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2016 |
|
|
January 2,
2016 |
|
|
January 3,
2015 |
|
|
Balance at beginning of
year
|
|
$ |
7,698 |
|
|
$ |
6,268 |
|
|
$ |
5,784 |
|
|
Additions based on tax
positions related to the current year
|
|
|
4,580 |
|
|
|
2,106 |
|
|
|
1,304 |
|
|
Reductions for tax
positions of prior years
|
|
|
(3,299 |
) |
|
|
(676 |
) |
|
|
(820 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at end of
year
|
|
$ |
8,979 |
|
|
$ |
7,698 |
|
|
$ |
6,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|