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Income Taxes (Tables)

12 Months Ended

Dec. 30, 2018

Income Tax Disclosure [Abstract]

Income Before Provision for Income Taxes

Income before provision for income taxes in 2018, 2017 and 2016 consists of the following (in thousands):

		2018				2017				2016
U.S.		$	414,804			$	386,989			$	334,892
Foreign			13,874				13,164				9,766
		$	428,678			$	400,153			$	344,658

Differences Between Statutory Income Tax Provision and Consolidated Provision for Income Taxes

The differences between the U.S. Federal statutory income tax provision (using the statutory rate of 21% in 2018 and the statutory rate of 35% in 2017 and 2016) and the Company’s consolidated provision for income taxes for 2018, 2017 and 2016 are summarized as follows (in thousands):

		2018				2017				2016
Federal income tax provision based on the statutory rate		$	90,022			$	140,054			$	120,630
State and local income taxes, net of related Federal income taxes			14,233				11,520				9,787
Non-resident withholding and foreign income taxes			21,369				20,210				17,275
Foreign tax and other tax credits			(25,301	)			(23,324	)			(20,049	)
Foreign derived intangible income			(11,760	)			—				—
Excess tax benefits from equity-based compensation			(23,786	)			(27,227	)			—
Non-deductible expenses, net			1,999				1,794				1,579
Unrecognized tax provision (benefit), net of related Federal income taxes			301				(173	)			(98	)
Other			(371	)			(606	)			856
		$	66,706			$	122,248			$	129,980

Components of Consolidated Provision for Income Taxes

The components of the 2018, 2017 and 2016 consolidated provision for income taxes are as follows (in thousands):

		2018				2017				2016
Provision for Federal income taxes
Current provision		$	33,558			$	81,747			$	100,673
Deferred provision (benefit)			(1,543	)			6,732				(3,096	)
Total provision for Federal income taxes			32,015				88,479				97,577
Provision for state and local income taxes
Current provision			12,651				14,131				15,091
Deferred provision (benefit)			671				(572	)			37
Total provision for state and local income taxes			13,322				13,559				15,128
Provision for non-resident withholding and foreign income taxes			21,369				20,210				17,275
		$	66,706			$	122,248			$	129,980

Significant Components of Net Deferred Income Taxes

As of December 30, 2018 and December 31, 2017, the significant components of net deferred income taxes are as follows (in thousands):

		2018				2017
Deferred income tax assets
Insurance reserves		$	10,253			$	9,957
Equity compensation			9,705				9,277
Other accruals and reserves			10,636				8,532
Foreign tax credit			4,600				—
Other			6,029				4,801
Total deferred income tax assets			41,223				32,567
Deferred income tax liabilities
Depreciation, amortization and asset basis differences			10,505				4,655
Capitalized software			25,192				22,248
Gain on debt extinguishments			—				2,914
Total deferred income tax liabilities			35,697				29,817
Net deferred income taxes		$	5,526			$	2,750

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

Balance as of January 3, 2016		$	2,115
Additions for tax positions of current year			209
Reductions in tax positions from prior years for:
Changes in prior year tax positions			(33	)
Lapses of applicable statute of limitations			(337	)
Balance as of January 1, 2017			1,954
Additions for tax positions of current year			224
Additions for tax positions of prior years			42
Reductions in tax positions from prior years for:
Changes in prior year tax positions			(10	)
Lapses of applicable statute of limitations			(373	)
Balance as of December 31, 2017			1,837
Additions for tax positions of current year			425
Additions for tax positions of prior years			115
Reductions in tax positions from prior years for:
Changes in prior year tax positions			(64	)
Lapses of applicable statute of limitations			(349	)
Balance as of December 30, 2018		$	1,964

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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