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Provision For Income Taxes (Tables) | 12 Months Ended
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Dec. 30, 2022
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Our income before income taxes is derived solely from within the U.S. Our provision for income taxes was as follows (in thousands):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | 100,525 |  |  | $ | 11,338 |  |  | $ | — |
State | 11,903 |  |  | 5,224 |  |  | 3,791 |
Total current tax expense | $ | 112,428 |  |  | $ | 16,562 |  |  | $ | 3,791 |
Deferred: |  |  |  |  |
Federal | $ | (54,223) |  |  | $ | 46,416 |  |  | $ | 14,886 |
State | (6,135) |  |  | 113 |  |  | 379 |
Total deferred tax expense | (60,358) |  |  | 46,529 |  |  | 15,265 |
Provision for income taxes | $ | 52,070 |  |  | $ | 63,091 |  |  | $ | 19,056 |
Schedule of Reconciliation of Income Taxes At The Statutory Federal Income Tax Rate to Net Income Taxes | The reconciliation of the U.S. federal income tax provision at the statutory federal income tax rate of 21% for each of the years ended December 31, 2022, 2021 and 2020, respectively, to our provision for income taxes was as follows (in thousands):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
U.S. federal income tax provision at statutory rate | $ | 49,213 |  |  | $ | 61,772 |  |  | $ | 27,476 |
State tax (benefit) expense | (2,632) |  |  | 1,336 |  |  | (2,232) |
Change in valuation allowance | 7,162 |  |  | 2,883 |  |  | 5,525 |
Research credits | (14,130) |  |  | (6,263) |  |  | (11,356) |
Stock-based compensation | (2,864) |  |  | (11,831) |  |  | (20,399) |
Non-deductible executive compensation | 4,549 |  |  | 11,182 |  |  | 18,067 |
Branded prescription drug fee | 3,855 |  |  | 2,897 |  |  | 2,537 |
Non-deductible warrant purchase | 6,300 |  |  | — |  |  | — |
Other | 617 |  |  | 1,115 |  |  | (562) |
Provision for income taxes | $ | 52,070 |  |  | $ | 63,091 |  |  | $ | 19,056 |
Schedule of Deferred Assets and Liabilities | Our deferred tax assets and liabilities were as follows (in thousands):
| December 31,
| 2022 |  | 2021
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 33,635 |  |  | $ | 17,993 |
Tax credit carryforwards | 40,217 |  |  | 101,460 |
Depreciation and amortization | 176,208 |  |  | 7,764 |
Stock-based compensation | 27,531 |  |  | 23,162 |
Lease liabilities | 46,759 |  |  | 12,385 |
Accruals and reserves not currently deductible | 22,418 |  |  | 19,531 |
Deferred revenue | 7,656 |  |  | 8,040 |
Other assets | 6,746 |  |  | 1,303 |
Total deferred tax assets | 361,170 |  |  | 191,638 |
Valuation allowance | (77,230) |  |  | (70,068) |
Net deferred tax assets | 283,940 |  |  | 121,570 |
Deferred tax liabilities: |  |  |
Lease right-of-use assets | (52,830) |  |  | (9,907) |
Net deferred taxes | $ | 231,110 |  |  | $ | 111,663 |
Schedule of Unrecognized Tax Benefits | The following table summarizes the activity related to our unrecognized tax benefits (in thousands):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Beginning balance | $ | 83,583 |  |  | $ | 80,941 |  |  | $ | 79,078 |
Change relating to prior year provision | 715 |  |  | 728 |  |  | 591 |
Change relating to current year provision | 4,129 |  |  | 2,215 |  |  | 3,305 |
Reductions based on the lapse of the applicable statutes of limitations | (721) |  |  | (301) |  |  | (2,033) |
Ending balance | $ | 87,706 |  |  | $ | 83,583 |  |  | $ | 80,941 |

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