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Income Taxes (Tables) | 12 Months Ended
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Dec. 26, 2020
Income Tax Disclosure [Abstract] |
Schedule of components of income tax expense (benefit) | Domestic and foreign income (loss) before income taxes is as follows:
(in thousands) | 2020 |  | 2019 |  | 2018
Domestic | $ | (16,732) |  |  | $ | (11,970) |  |  | $ | (49,995) |
Foreign | 177,985 |  |  | 177,854 |  |  | 254,937 |
Income before income taxes | $ | 161,253 |  |  | $ | 165,884 |  |  | $ | 204,942 |
Federal, state and foreign income tax expense (benefit) consists of the following:
(in thousands) | 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |
Federal | $ | 437 |  |  | $ | (3,495) |  |  | $ | (3,193) |
State | 203 |  |  | 834 |  |  | 119 |
Foreign | 33,841 |  |  | 30,610 |  |  | 48,130 |
Subtotal | 34,481 |  |  | 27,949 |  |  | 45,056 |
Deferred: |  |  |  |  |
Federal and State | (5,354) |  |  | 1,839 |  |  | (3,896) |
Foreign | 2,140 |  |  | (2,986) |  |  | (783) |
Subtotal | (3,214) |  |  | (1,147) |  |  | (4,679) |
Provision for income taxes | $ | 31,267 |  |  | $ | 26,802 |  |  | $ | 40,377 |
Schedule of effective income tax rate reconciliation | A reconciliation between income taxes computed on income before income taxes at the federal statutory rate and the provision for income taxes is provided below:
(in thousands) | 2020 |  | 2019 |  | 2018
Tax expense at statutory rate of 21% | $ | 33,863 |  |  | $ | 34,836 |  |  | $ | 43,038 |
Non-U.S. income tax rate differential | (19,730) |  |  | (22,457) |  |  | (20,472) |
Tax impact of non-deductible goodwill impairment charge | 5,642 |  |  | — |  |  | — |
Tax on unremitted earnings | 3,955 |  |  | 2,136 |  |  | 4,660 |
Net impact associated with the GILTI tax provisions | 3,731 |  |  | 6,469 |  |  | 5,075 |
Non-U.S. losses and expenses with no tax benefit | 2,774 |  |  | 6,570 |  |  | 3,107 |
Certain changes in unrecognized tax benefits and related accrued interest | 2,160 |  |  | (1,468) |  |  | 208 |
State and local taxes, net of federal tax benefit | (584) |  |  | 1,080 |  |  | (1,238) |
Nondeductible professional fees | 236 |  |  | 195 |  |  | 1,001 |
2017 Toll Charge (2018 adjustment) | — |  |  | — |  |  | 2,278 |
Provisional Tax Act impact other than Toll Charge (2018 adjustment) | — |  |  | — |  |  | 966 |
Other, net | (780) |  |  | (559) |  |  | 1,754 |
Provision for income taxes | $ | 31,267 |  |  | $ | 26,802 |  |  | $ | 40,377 |
Schedule of deferred tax assets and liabilities | Significant components of the company’s deferred tax assets and liabilities at December 26, 2020 and December 28, 2019, are as follows:
(in thousands) | 2020 |  | 2019
Deferred tax assets: |  |  |
Accrued expenses and reserves | $ | 31,123 |  |  | $ | 28,294 |
Domestic and non-U.S. net operating loss carryforwards | 24,763 |  |  | 10,511 |
Non-U.S. interest expense carryforwards | 10,352 |  |  | 5,324 |
U.S. research credit carryforwards | 3,724 |  |  | 2,581 |
Capitalized expenses | 4,178 |  |  | 2,400 |
U.S. foreign tax credit carryforwards | 772 |  |  | 1,320 |
Other | 117 |  |  | 1,261 |
Gross deferred tax assets | 75,029 |  |  | 51,691 |
Less: Valuation allowance | (13,131) |  |  | (5,957) |
Total deferred tax assets | 61,898 |  |  | 45,734 |
Deferred tax liabilities: |  |  |
Excess of book basis over the tax basis for intangible assets and goodwill | 76,472 |  |  | 71,229 |
Tax on unremitted earnings | 14,223 |  |  | 12,968 |
Unrealized foreign currency exchange gains | 5,719 |  |  | — |
Excess of book basis over the tax basis for property, plant, and equipment | 4,394 |  |  | 3,231 |
Total deferred tax liabilities | 100,808 |  |  | 87,428 |
Net deferred tax liabilities | $ | 38,910 |  |  | $ | 41,694 |
Schedule of unrecognized tax benefits roll forward | A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 26, 2020, December 28, 2019, and December 29, 2018 is as follows:
(in thousands) | Unrecognized Tax Benefits
Balance at December 29, 2018 | $ | 18,259 |
Additions for tax positions taken in the current year | 1,305 |
Decreases due to a lapse in the statute of limitations | (2,758) |
Other | (85) |
Balance at December 28, 2019 | 16,721 |
Additions for tax positions taken in the current year | 700 |
Decreases due to a lapse in the statute of limitations | (103) |
Other | 119 |
Balance at December 26, 2020 | 17,437 |

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