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Income Taxes (Tables) | 12 Months Ended
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Jan. 02, 2021
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 January 2, 2021 |  | Year Ended December 28, 2019 |  | Year Ended December 29, 2018
United States | $ | 214,816 |  |  | $ | 181,664 |  |  | $ | 173,848 |
Foreign | 48,920 |  |  | 52,502 |  |  | 39,928 |
Total | $ | 263,736 |  |  | $ | 234,166 |  |  | $ | 213,776 |
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 January 2, 2021 |  | Year Ended December 28, 2019 |  | Year Ended December 29, 2018
Current: |  |  |  |  |
Federal | $ | 13,901 |  |  | $ | 30,218 |  |  | $ | 20,418 |
State | 6,444 |  |  | 5,273 |  |  | 3,075 |
Foreign | 8,073 |  |  | 8,424 |  |  | 5,014 |
Subtotal | $ | 28,418 |  |  | $ | 43,915 |  |  | $ | 28,507 |
Deferred: |  |  |  |  |
Federal | $ | 1,354 |  |  | $ | (3,732) |  |  | $ | (6,678) |
State | (6,191) |  |  | (1,985) |  |  | (1,258) |
Foreign | (127) |  |  | (248) |  |  | (338) |
Subtotal | (4,964) |  |  | (5,965) |  |  | (8,274) |
Total | $ | 23,454 |  |  | $ | 37,950 |  |  | $ | 20,233 |
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 January 2, 2021 |  | Year Ended December 28, 2019 |  | Year Ended December 29, 2018
Statutory regular federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State provision, net of federal benefit | 0.1 |  |  | 1.1 |  |  | 0.7 |
Nondeductible executive compensation | 1.8 |  |  | 2.1 |  |  | 1.9 |
Research and development tax credits | (2.2) |  |  | (1.1) |  |  | (1.4) |
Foreign income taxed at different rates | (1.0) |  |  | (1.7) |  |  | (2.0) |
U.S. tax on foreign income, net | 1.0 |  |  | 0.1 |  |  | 0.7 |
Impact of 2017 Tax Act | — |  |  | — |  |  | 0.1 |
Withholding taxes on undistributed foreign earnings, net | — |  |  | — |  |  | (0.6) |
Excess stock-based compensation | (10.4) |  |  | (6.0) |  |  | (9.4) |
Derecognition of uncertain tax position | (2.2) |  |  | — |  |  | (1.5) |
Other | 0.8 |  |  | 0.7 |  |  | — |
Total | 8.9 | % |  | 16.2 | % |  | 9.5 | %
Components of Deferred Tax Assets | The components of the deferred tax assets are as follows (in thousands):
| January 2, 2021 |  | December 28, 2019
Deferred tax assets: |  |  |
Deferred revenue | $ | 19,769 |  |  | $ | 13,948 |
Net operating losses | 19,140 |  |  | 724 |
Accrued liabilities | 16,534 |  |  | 13,273 |
Tax credits | 9,398 |  |  | 6,438 |
Stock-based compensation | 8,385 |  |  | 7,926 |
Operating lease assets | 5,782 |  |  | 4,174 |
Other | — |  |  | 867 |
Total | 79,008 |  |  | 47,350 |
Valuation allowance | (15,660) |  |  | — |
Total deferred tax assets | $ | 63,348 |  |  | $ | 47,350 |
Deferred tax liabilities: |  |  |
Property and equipment | $ | (12,818) |  |  | $ | (6,604) |
Acquired intangibles | (5,465) |  |  | — |
Operating lease liabilities | (5,429) |  |  | (3,845) |
Withholding taxes on undistributed foreign earnings | (3,108) |  |  | (2,829) |
State taxes and other | (2,302) |  |  | (1,152) |
Other | (1,110) |  |  | — |
Total deferred tax liabilities | (30,232) |  |  | (14,430) |
Net deferred tax assets | $ | 33,116 |  |  | $ | 32,920 |
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 January 2, 2021 |  | Year Ended December 28, 2019
Unrecognized tax benefits (gross), beginning of period | $ | 17,009 |  |  | $ | 15,412 |
Increase from tax positions in prior period | 471 |  |  | 81 |
Increase from tax positions in current period | 6,565 |  |  | 2,636 |
Lapse of statute of limitations | (6,040) |  |  | (1,120) |
Unrecognized tax benefits (gross), end of period | $ | 18,005 |  |  | $ | 17,009 |

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