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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 30, 2017
Income Tax Disclosure [Abstract] |
Provision for Income Taxes was Computed Based on Amounts of Income Before Income Taxes | The provision for income taxes was computed based on the following amounts of income from continuing operations before income taxes:
(In thousands) |  | 2017 |  |  | 2016 |  | 2015
Domestic |  | $ | 364,846 |  |  |  | $ | 301,760 |  |  | $ | 741,246 |
Foreign |  | 1,051,649 |  |  |  | 982,956 |  |  | 823,011 |
Income before income taxes |  | $ | 1,416,495 |  |  |  | $ | 1,284,716 |  |  | $ | 1,564,257 |
Provision for Income Taxes | The provision for income taxes consisted of:
(In thousands) |  | 2017 |  |  | 2016 |  | 2015
Current: |  |  |  |  |  |  |
Federal |  | $ | 618,611 |  |  |  | $ | 115,570 |  |  | $ | 194,776 |
Foreign |  | 135,007 |  |  |  | 123,960 |  |  | 111,976 |
State |  | 21,506 |  |  |  | 37,957 |  |  | 33,361 |
|  | 775,124 |  |  |  | 277,487 |  |  | 340,113 |
Deferred: |  |  |  |  |  |  |
Federal and state |  | (76,039 | ) |  |  | (63,610 | ) |  | 401 |
Foreign |  | (3,799 | ) |  |  | (8,015 | ) |  | 6,687 |
Income taxes |  | $ | 695,286 |  |  |  | $ | 205,862 |  |  | $ | 347,201 |
Differences Between Income Taxes Computed by Applying Statutory Federal Income Tax Rate and Income Tax Expense reported in Consolidated Financial Statements | The differences between income taxes computed by applying the statutory federal income tax rate and income tax expense reported in the consolidated financial statements are as follows:
(In thousands) |  | 2017 |  |  | 2016 |  | 2015
Tax at federal statutory rate |  | $ | 495,772 |  |  |  | $ | 449,650 |  |  | $ | 547,489 |
State income taxes, net of federal tax benefit |  | 23,684 |  |  |  | 24,426 |  |  | 20,383 |
Foreign rate differences |  | (217,131 | ) |  |  | (262,392 | ) |  | (193,514 | )
Tax reform |  | 465,501 |  |  |  | — |  |  | — |
Capital losses |  | (67,032 | ) |  |  | — |  |  | — |
Valuation allowances (federal) |  | 37,296 |  |  |  | — |  |  | — |
Stock compensation (federal) |  | (22,826 | ) |  |  | (25,135 | ) |  | — |
Other |  | (19,978 | ) |  |  | 19,313 |  |  | (27,157 | )
Income taxes |  | $ | 695,286 |  |  |  | $ | 205,862 |  |  | $ | 347,201 |
Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities consisted of the following:
(In thousands) |  | 2017 |  |  | 2016
Deferred income tax assets: |  |  |  |  |
Inventories |  | $ | 21,146 |  |  |  | $ | 31,260 |
Deferred compensation |  | 55,326 |  |  |  | 87,765 |
Other employee benefits |  | 45,464 |  |  |  | 77,360 |
Stock compensation |  | 45,960 |  |  |  | 68,722 |
Other accrued expenses |  | 158,596 |  |  |  | 157,907 |
Capital loss carryforwards |  | 34,705 |  |  |  | — |
Operating loss carryforwards |  | 251,236 |  |  |  | 152,587 |
Gross deferred income tax assets |  | 612,433 |  |  |  | 575,601 |
Valuation allowances |  | (225,141 | ) |  |  | (114,990 | )
Net deferred income tax assets |  | 387,292 |  |  |  | 460,611 |
Deferred income tax liabilities: |  |  |  |  |
Depreciation |  | 25,574 |  |  |  | 35,461 |
Intangible assets |  | 237,667 |  |  |  | 471,493 |
Other deferred tax liabilities |  | 78,824 |  |  |  | 58,767 |
Deferred income tax liabilities |  | 342,065 |  |  |  | 565,721 |
Net deferred income tax assets (liabilities) |  | $ | 45,227 |  |  |  | $ | (105,110 | )
Amounts included in the Consolidated Balance Sheets: |  |  |  |  |
Other assets (Note I) |  | $ | 103,601 |  |  |  | $ | 42,171 |
Other liabilities (Note M) |  | (58,374 | ) |  |  | (147,281 | )
|  | $ | 45,227 |  |  |  | $ | (105,110 | )
Reconciliation of Change in Accrual for Unrecognized Income Tax Benefits | A reconciliation of the change in the accrual for unrecognized income tax benefits is as follows:
(In thousands) | Unrecognized Income Tax Benefits |  | Accrued Interest and Penalties |  | Unrecognized Income Tax Benefits Including Interest and Penalties
Balance, December 2014 | $ | 113,604 |  |  | $ | 17,219 |  |  | $ | 130,823 |
Additions for current year tax positions | 13,470 |  |  | — |  |  | 13,470 |
Additions for prior year tax positions | 4,396 |  |  | 3,188 |  |  | 7,584 |
Reductions for prior year tax positions | (32,432 | ) |  | (6,350 | ) |  | (38,782 | )
Reductions due to statute expirations | (11,780 | ) |  | (2,528 | ) |  | (14,308 | )
Payments in settlement | (11,437 | ) |  | (2,065 | ) |  | (13,502 | )
Currency translation | (144 | ) |  | (95 | ) |  | (239 | )
Balance, December 2015 | 75,677 |  |  | 9,369 |  |  | 85,046 |
Additions for current year tax positions | 121,025 |  |  | — |  |  | 121,025 |
Additions for prior year tax positions | 6,164 |  |  | 2,880 |  |  | 9,044 |
Reductions for prior year tax positions | (4,798 | ) |  | (1,362 | ) |  | (6,160 | )
Reductions due to statute expirations | (14,985 | ) |  | (1,335 | ) |  | (16,320 | )
Payments in settlement | (6,108 | ) |  | (829 | ) |  | (6,937 | )
Currency translation | (9 | ) |  | (14 | ) |  | (23 | )
Balance, December 2016 | 176,966 |  |  | 8,709 |  |  | 185,675 |
Additions for current year tax positions | 28,049 |  |  | — |  |  | 28,049 |
Additions for prior year tax positions | 22,968 |  |  | 6,808 |  |  | 29,776 |
Reductions for prior year tax positions | (22,163 | ) |  | (279 | ) |  | (22,442 | )
Reductions due to statute expirations | (9,028 | ) |  | (915 | ) |  | (9,943 | )
Payments in settlement | (855 | ) |  | (248 | ) |  | (1,103 | )
Currency translation | 55 |  |  | 11 |  |  | 66 |
Balance, December 2017 | $ | 195,992 |  |  | $ | 14,086 |  |  | $ | 210,078 |
Amounts Included in Consolidated Balance Sheets |
(In thousands) |  | 2017 |  |  | 2016
Amounts included in the Consolidated Balance Sheets: |  |  |  |  |
Unrecognized income tax benefits, including interest and penalties |  | $ | 210,078 |  |  |  | $ | 185,675 |
Less deferred tax benefits |  | 31,197 |  |  |  | 35,141 |
Total unrecognized tax benefits |  | $ | 178,881 |  |  |  | $ | 150,534 |

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