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Income Taxes (Tables)

12 Months Ended

Dec. 28, 2019

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 28, 2019				Year Ended December 29, 2018				Year Ended December 30, 2017
United States	$	181,664			$	173,848			$	159,245
Foreign	52,502				39,928				26,555
Total	$	234,166			$	213,776			$	185,800

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 28, 2019				Year Ended December 29, 2018				Year Ended December 30, 2017
Current:
Federal	$	30,218			$	20,418			$	38,777
State	5,273				3,075				1,940
Foreign	8,424				5,014				3,018
Subtotal	$	43,915			$	28,507			$	43,735
Deferred:
Federal	$	(3,732	)		$	(6,678	)		$	20,735
State	(1,985		)		(1,258		)		(3,420		)
Foreign	(248		)		(338		)		(39		)
Subtotal	(5,965		)		(8,274		)		17,276
Total	$	37,950			$	20,233			$	61,011

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 28, 2019			Year Ended December 29, 2018			Year Ended December 30, 2017
Statutory regular federal income tax rate	21.0	%		21.0	%		35.0	%
State provision, net of federal benefit	1.1			0.7			(0.6	)
Nondeductible executive compensation	2.1			1.9			1.3
Research and development tax credits	(1.1	)		(1.4	)		(2.2	)
Foreign income taxed at different rates	(1.7	)		(2.0	)		(3.4	)
U.S. tax on foreign income, net	0.1			0.7			—
Impact of 2017 Tax Act	—			0.1			18.8
Withholding taxes on undistributed foreign earnings, net	—			(0.6	)		3.5
Excess stock-based compensation	(6.0	)		(9.4	)		(20.3	)
Derecognition of uncertain tax position	—			(1.5	)		—
Other	0.7			—			0.7
Total	16.2	%		9.5	%		32.8	%

Components of Deferred Tax Assets

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

	December 28, 2019				December 29, 2018
Deferred tax assets:
Tax credits	$	6,438			$	5,672
Deferred revenue	13,948				331
Accrued liabilities	13,273				12,645
Stock-based compensation	7,926				6,615
Operating lease assets	4,174				—
Other	1,591				—
Total	47,350				25,263
Valuation allowance	—				—
Total deferred tax assets	$	47,350			$	25,263
Deferred tax liabilities:
Property and equipment	$	(6,604	)		$	(2,504	)
State taxes and other	(1,152		)		(857		)
Withholding taxes on undistributed foreign earnings	(2,829		)		(2,803		)
Operating lease liabilities	(3,845		)		—
Other	—				(845		)
Total deferred tax liabilities	(14,430		)		(7,009		)
Net deferred tax assets	$	32,920			$	18,254

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 28, 2019				Year Ended December 29, 2018
Unrecognized tax benefits (gross), beginning of period	$	15,412			$	16,157
Increase from tax positions in prior period	81				701
Increase from tax positions in current period	2,636				2,633
Settlements	—				(33		)
Lapse of statute of limitations	(1,120		)		(4,046		)
Unrecognized tax benefits (gross), end of period	$	17,009			$	15,412

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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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