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Income Taxes (Tables) | 12 Months Ended
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Dec. 29, 2019
Income Tax Disclosure [Abstract] |
Income Before Provision for Income Taxes | Income before provision for income taxes in 2019, 2018 and 2017 consists of the following (in thousands):
|  | 2019 |  |  | 2018 |  |  | 2017 |
U.S. |  | $ | 468,467 |  |  | $ | 414,804 |  |  | $ | 386,989 |
Foreign |  |  | 14,170 |  |  |  | 13,874 |  |  |  | 13,164 |
Income before provision for income taxes |  | $ | 482,637 |  |  | $ | 428,678 |  |  | $ | 400,153 |
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 2019 and 2018 and the statutory rate of 35 % in 2017) and the Company’s consolidated provision for income taxes for 2019, 2018 and 2017 are summarized as follows (in thousands):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Federal income tax provision based on the statutory rate |  | $ | 101,354 |  |  | $ | 90,022 |  |  | $ | 140,054 |
State and local income taxes, net of related Federal income taxes |  |  | 15,141 |  |  |  | 14,233 |  |  |  | 11,520 |
Non-resident withholding and foreign income taxes |  |  | 20,351 |  |  |  | 21,369 |  |  |  | 20,210 |
Foreign tax and other tax credits |  |  | (20,090 | ) |  |  | (25,301 | ) |  |  | (23,324 | )
Foreign derived intangible income |  |  | (12,810 | ) |  |  | (11,760 | ) |  |  | — |
Excess tax benefits from equity-based compensation |  |  | (25,735 | ) |  |  | (23,786 | ) |  |  | (27,227 | )
Non-deductible expenses, net |  |  | 3,090 |  |  |  | 1,999 |  |  |  | 1,794 |
Unrecognized tax provision (benefit), net of related Federal income taxes |  |  | 694 |  |  |  | 301 |  |  |  | (173 | )
Other |  |  | (67 | ) |  |  | (371 | ) |  |  | (606 | )
Provision for income taxes |  | $ | 81,928 |  |  | $ | 66,706 |  |  | $ | 122,248 |
Components of Consolidated Provision for Income Taxes | The components of the 2019, 2018 and 2017 consolidated provision for income taxes are as follows (in thousands):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Provision for Federal income taxes |  |  |  |  |  |  |  |  |  |  |  |
Current provision |  | $ | 49,539 |  |  | $ | 33,558 |  |  | $ | 81,747 |
Deferred (benefit) provision |  |  | (2,862 | ) |  |  | (1,543 | ) |  |  | 6,732 |
Total provision for Federal income taxes |  |  | 46,677 |  |  |  | 32,015 |  |  |  | 88,479 |
Provision for state and local income taxes |  |  |  |  |  |  |  |  |  |  |  |
Current provision |  |  | 15,335 |  |  |  | 12,651 |  |  |  | 14,131 |
Deferred (benefit) provision |  |  | (435 | ) |  |  | 671 |  |  |  | (572 | )
Total provision for state and local income taxes |  |  | 14,900 |  |  |  | 13,322 |  |  |  | 13,559 |
Provision for non-resident withholding and foreign income taxes |  |  | 20,351 |  |  |  | 21,369 |  |  |  | 20,210 |
Provision for income taxes |  | $ | 81,928 |  |  | $ | 66,706 |  |  | $ | 122,248 |
Significant Components of Net Deferred Income Taxes | As of December 29, 2019 and December 30, 2018, the significant components of net deferred income taxes are as follows (in thousands):
|  | 2019 |  |  | 2018 |
Deferred income tax assets |  |  |  |  |  |  |  |
Other accruals and reserves |  | $ | 11,874 |  |  | $ | 10,636 |
Insurance reserves |  |  | 11,256 |  |  |  | 10,253 |
Equity compensation |  |  | 10,357 |  |  |  | 9,705 |
Foreign tax credit |  |  | 9,333 |  |  |  | 4,600 |
Other |  |  | 6,980 |  |  |  | 6,029 |
Deferred income tax assets before valuation allowance |  |  | 49,800 |  |  |  | 41,223 |
Less: Valuation allowance |  |  | (4,280 | ) |  |  | — |
Total deferred income tax assets |  |  | 45,520 |  |  |  | 41,223 |
Deferred income tax liabilities |  |  |  |  |  |  |  |
Depreciation, amortization and asset basis differences |  |  | 8,117 |  |  |  | 10,505 |
Capitalized software |  |  | 27,330 |  |  |  | 25,192 |
Total deferred income tax liabilities |  |  | 35,447 |  |  |  | 35,697 |
Net deferred income tax assets |  | $ | 10,073 |  |  | $ | 5,526 |
Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Unrecognized tax benefits at beginning of period |  | $ | 1,964 |  |  | $ | 1,837 |  |  | $ | 1,954 |
Additions for tax positions of current year |  |  | 468 |  |  |  | 425 |  |  |  | 224 |
Additions for tax positions of prior years |  |  | 789 |  |  |  | 115 |  |  |  | 42 |
Reductions for changes in prior year tax positions |  |  | (284 | ) |  |  | (64 | ) |  |  | (10 | )
Reductions for lapses of applicable statute of limitations |  |  | (135 | ) |  |  | (349 | ) |  |  | (373 | )
Unrecognized tax benefits at end of period |  | $ | 2,802 |  |  | $ | 1,964 |  |  | $ | 1,837 |

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