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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Income Before Provision for Income Taxes

The components of income before provision for income taxes are as follows (in thousands):

	Year ended December 31, 2016				Year ended January 2, 2016				Year ended January 3, 2015
United States	$	320,702			$	87,762			$	69,282
Foreign	97,639				28,583				32,759
Total	$	418,341			$	116,345			$	102,041

Current and Deferred Provision (Benefit) for Income Taxes

The following table presents the current and deferred provision (benefit) for income taxes (in thousands):

	Year ended December 31, 2016				Year ended January 2, 2016				Year ended January 3, 2015
Current:
Federal	$	99,533			$	31,983			$	22,553
State	6,922				2,388				2,736
Foreign	5,815				2,448				2,709
	112,270				36,819				27,998
Deferred:
Federal	2,982				(900		)		342
State	2,331				(1,206		)		(811		)
Foreign	92				132				149
	5,405				(1,974		)		(320		)
Total	$	117,675			$	34,845			$	27,678

Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate

The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:

	Year ended December 31, 2016			Year ended January 2, 2016			Year ended January 3, 2015
Statutory regular federal income tax rate	35.0	%		35.0	%		35.0	%
State provision, net of federal benefit	1.4			0.7			1.2
Nondeductible items	0.8			1.7			1.3
Foreign income taxed at different rates	(5.6	)		(6.3	)		(8.2	)
Tax credits	(0.5	)		(1.7	)		(1.5	)
Change in federal valuation allowance	—			0.4			(0.1	)
Excess stock based compensation	(3.0	)		—			—
Other	—			0.2			(0.6	)
Total	28.1	%		30.0	%		27.1	%

Components of Deferred Tax Assets

The components of the deferred tax assets are as follows (in thousands):

	December 31, 2016				January 2, 2016
Deferred tax assets:
Tax credits	$	802			$	4,683
Deferred revenue	5,393				3,994
Accrued liabilities	16,244				20,817
Share-based compensation	18,680				20,688
Other	1,902				2,416
Total	43,021				52,598
Valuation allowance	—				(4,196		)
Total deferred tax assets	43,021				48,402
Deferred tax liabilities:
Property and equipment	(2,691		)		—
State taxes and other	(1,695		)		(4,276		)
Total deferred tax liabilities	(4,386		)		(4,276		)
Net deferred tax assets	$	38,635			$	44,126

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):

	Year ended December 31, 2016				Year ended January 2, 2016
Unrecognized tax benefits (gross), beginning of period	$	8,875			$	8,024
Amounts related to Cercacor from prior year	(277		)		—
Increase from tax positions in prior period	143				131
Increase from tax positions in current period	6,437				1,616
Settlements	(296		)		—
Lapse of statute of limitations	(388		)		(896		)
Unrecognized tax benefits (gross), end of period	$	14,494			$	8,875

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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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 of the change in unrecognized tax benefits.

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