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Income Taxes (Tables)

12 Months Ended

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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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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