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Income Taxes (Tables)

12 Months Ended

Dec. 30, 2017

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 30, 2017				Year ended December 31, 2016				Year ended January 2, 2016
United States	$	171,564			$	320,702			$	87,762
Foreign	27,810				97,639				28,583
Total	$	199,374			$	418,341			$	116,345

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 30, 2017				Year ended December 31, 2016				Year ended January 2, 2016
Current:
Federal	$	38,777			$	99,533			$	31,983
State	1,940				6,922				2,388
Foreign	3,018				5,815				2,448
	43,735				112,270				36,819
Deferred:
Federal	27,002				2,982				(900		)
State	(3,001		)		2,331				(1,206		)
Foreign	22				92				132
	24,023				5,405				(1,974		)
Total	$	67,758			$	117,675			$	34,845

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 30, 2017			Year ended December 31, 2016			Year ended January 2, 2016
Statutory regular federal income tax rate	35.0	%		35.0	%		35.0	%
State provision, net of federal benefit	(0.3	)		1.4			0.7
Nondeductible items	1.8			0.8			1.7
Foreign income taxed at different rates	(3.4	)		(5.6	)		(6.3	)
Tax credits	(2.0	)		(0.5	)		(1.7	)
Change in federal valuation allowance	—			—			0.4
Impact of 2017 Tax Act	18.5			—			—
Withholding taxes on undistributed foreign earnings	3.3			—			—
Excess stock based compensation	(18.9	)		(3.0	)		—
Other	—			—			0.2
Total	34.0	%		28.1	%		30.0	%

Components of Deferred Tax Assets

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

	December 30, 2017				December 31, 2016
Deferred tax assets:
Tax credits	$	6,414			$	802
Deferred revenue	3,831				5,393
Accrued liabilities	9,414				16,244
Stock-based compensation	8,601				18,680
Other	237				1,902
Total	28,497				43,021
Valuation allowance	—				—
Total deferred tax assets	28,497				43,021
Deferred tax liabilities:
Property and equipment	(2,988		)		(2,691		)
State taxes and other	(1,990		)		(1,695		)
Withholding taxes on undistributed foreign earnings	(9,500		)		—
Total deferred tax liabilities	(14,478		)		(4,386		)
Net deferred tax assets	$	14,019			$	38,635

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 30, 2017				Year ended December 31, 2016
Unrecognized tax benefits (gross), beginning of period	$	14,494			$	8,875
Amounts related to Cercacor from prior year	—				(277		)
Increase from tax positions in prior period	498				143
Increase from tax positions in current period	2,142				6,437
Settlements	—				(296		)
Lapse of statute of limitations	(977		)		(388		)
Unrecognized tax benefits (gross), end of period	$	16,157			$	14,494

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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 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 of the change in unrecognized tax benefits.

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