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Income Taxes (Tables) | 12 Months Ended
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Jan. 01, 2022
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 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
United States | $ | 221,225 |  |  | $ | 214,816 |  |  | $ | 181,664 |
Foreign | 53,155 |  |  | 48,920 |  |  | 52,502 |
Total | $ | 274,380 |  |  | $ | 263,736 |  |  | $ | 234,166 |
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 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
Current: |  |  |  |  |
Federal | $ | 38,166 |  |  | $ | 13,901 |  |  | $ | 30,218 |
State | 7,069 |  |  | 6,444 |  |  | 5,273 |
Foreign | 14,584 |  |  | 8,073 |  |  | 8,424 |
Subtotal | $ | 59,819 |  |  | $ | 28,418 |  |  | $ | 43,915 |
Deferred: |  |  |  |  |
Federal | $ | (4,884) |  |  | $ | 1,354 |  |  | $ | (3,732) |
State | (6,054) |  |  | (6,191) |  |  | (1,985) |
Foreign | (4,148) |  |  | (127) |  |  | (248) |
Subtotal | (15,086) |  |  | (4,964) |  |  | (5,965) |
Total | $ | 44,733 |  |  | $ | 23,454 |  |  | $ | 37,950 |
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 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
Statutory regular federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State provision, net of federal benefit | 0.3 |  |  | 0.1 |  |  | 1.1 |
Nondeductible executive compensation | 2.1 |  |  | 1.8 |  |  | 2.1 |
Research and development tax credits | (1.8) |  |  | (2.2) |  |  | (1.1) |
Foreign income taxed at different rates | (0.3) |  |  | (1.0) |  |  | (1.7) |
U.S. tax on foreign income, net | 0.9 |  |  | 1.0 |  |  | 0.1 |
Excess stock-based compensation | (5.5) |  |  | (10.4) |  |  | (6.0) |
Derecognition of uncertain tax position | (1.0) |  |  | (2.2) |  |  | — |
Other | 0.6 |  |  | 0.8 |  |  | 0.7 |
Total | 16.3 | % |  | 8.9 | % |  | 16.2 | %
Components of Deferred Tax Assets | The components of the deferred tax assets are as follows (in thousands):
| January 1, 2022 |  | January 2, 2021
Deferred tax assets: |  |  |
Deferred revenue | $ | 26,139 |  |  | $ | 19,769 |
Net operating losses | 9,494 |  |  | 19,140 |
Accrued liabilities | 19,165 |  |  | 16,534 |
Tax credits | 13,079 |  |  | 9,398 |
Stock-based compensation | 8,919 |  |  | 8,385 |
Operating lease assets | 5,696 |  |  | 5,782 |
Other | — |  |  | — |
Total | 82,492 |  |  | 79,008 |
Valuation allowance | (6,524) |  |  | (15,660) |
Total deferred tax assets | $ | 75,968 |  |  | $ | 63,348 |
Deferred tax liabilities: |  |  |
Property and equipment | $ | (12,966) |  |  | $ | (12,818) |
Acquired intangibles | (2,649) |  |  | (5,465) |
Operating lease liabilities | (5,436) |  |  | (5,429) |
Withholding taxes on undistributed foreign earnings | (2,829) |  |  | (3,108) |
State taxes and other | (4,265) |  |  | (2,302) |
Other | (440) |  |  | (1,110) |
Total deferred tax liabilities | (28,585) |  |  | (30,232) |
Net deferred tax assets | $ | 47,383 |  |  | $ | 33,116 |
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 1, 2022 |  | Year Ended January 2, 2021
Unrecognized tax benefits (gross), beginning of period | $ | 18,005 |  |  | $ | 17,009 |
Increase from tax positions in prior period | 543 |  |  | 471 |
Decrease from tax position in prior period | (850) |  |  | — |
Increase from tax positions in current period | 7,019 |  |  | 6,565 |
Lapse of statute of limitations | (3,069) |  |  | (6,040) |
Unrecognized tax benefits (gross), end of period | $ | 21,648 |  |  | $ | 18,005 |

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