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Income Taxes Income Taxes (Tables) | 12 Months Ended
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Jan. 02, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | U.S. and foreign income from operations before income taxes are as follows (in thousands):
| January 2, 2021 |  | December 28, 2019 |  | December 29, 2018
United States | $ | 265,950 |  |  | $ | 260,867 |  |  | $ | 82,146 |
Foreign | 87,669 |  |  | 119,567 |  |  | 35,829 |
Income from operations before income taxes | $ | 353,619 |  |  | $ | 380,434 |  |  | $ | 117,975 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense attributable to income from operations before income taxes consists of the following (in thousands):
| January 2, 2021 |  | December 28, 2019 |  | December 29, 2018
Current: |  |  |  |  |
Federal | $ | (72) |  |  | $ | (162) |  |  | $ | (330) |
State | 1,595 |  |  | 341 |  |  | (3) |
Foreign | 36,453 |  |  | 37,117 |  |  | 27,935 |
Total current | 37,976 |  |  | 37,296 |  |  | 27,602 |
Deferred: |  |  |  |  |
Federal | 20,827 |  |  | 13,465 |  |  | 4,803 |
State | 840 |  |  | 11,804 |  |  | (2,216) |
Foreign | (6,354) |  |  | (3,098) |  |  | (18,158) |
Total deferred | 15,313 |  |  | 22,171 |  |  | (15,571) |
| $ | 53,289 |  |  | $ | 59,467 |  |  | $ | 12,031 |
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):
| January 2, 2021 |  | December 28, 2019
Balance at beginning of Year | $ | 7,810 |  |  | $ | 5,777 |
Change in tax positions related to current year | 9 |  |  | 3,887 |
Change in tax positions related to prior years | (2,780) |  |  | (233) |
Change in tax positions due to settlement with tax authorities | — |  |  | (1,354) |
Expiration of the Statute of Limitations | — |  |  | (267) |
Balance at end of year | $ | 5,039 |  |  | $ | 7,810 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense for the years ended January 2, 2021, December 28, 2019 and December 29, 2018, differed from the amount computed by applying the statutory U.S. federal income tax rate to income from continuing operations before income taxes as a result of the following (in thousands):
| January 2, 2021 |  | December 28, 2019 |  | December 29, 2018
Computed "expected" tax expense | $ | 74,260 |  |  | $ | 79,891 |  |  | $ | 24,775 |
Change in valuation allowance | (522) |  |  | 38 |  |  | 9,700 |
Non-deductible compensation expenses | 4,723 |  |  | 3,950 |  |  | 2,305 |
Deferred tax on unremitted foreign earnings | (548) |  |  | 1,505 |  |  | (31) |
Sub-Part F income | 45 |  |  | 1,122 |  |  | 3,361 |
Foreign rate differential | 7,077 |  |  | 7,246 |  |  | 658 |
Change in uncertain tax positions | (4,650) |  |  | 1,736 |  |  | 3,419 |
State income taxes, net of federal benefit | 2,702 |  |  | 5,686 |  |  | (1,813) |
Biofuel tax incentives | (31,725) |  |  | (46,007) |  |  | (18,489) |
Change in tax law | 3,699 |  |  | 1,352 |  |  | (10,017) |
Other, net | (1,772) |  |  | 2,948 |  |  | (1,837) |
| $ | 53,289 |  |  | $ | 59,467 |  |  | $ | 12,031 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at January 2, 2021 and December 28, 2019 are presented below (in thousands):
| January 2, 2021 |  | December 28, 2019
Deferred tax assets: |  |  |
Loss contingency reserves | $ | 9,805 |  |  | $ | 11,193 |
Employee benefits | 13,027 |  |  | 12,236 |
Pension liability | 13,053 |  |  | 13,049 |
Intangible assets amortization, including taxable goodwill | 1,474 |  |  | 1,485 |
Interest expense carryforwards | 402 |  |  | 12,361 |
Tax loss carryforwards | 68,730 |  |  | 80,195 |
Tax credit carryforwards | 6,610 |  |  | 5,653 |
Operating lease liabilities | 38,930 |  |  | 33,549 |
Inventory | 5,935 |  |  | 5,185 |
Accrued liabilities and other | 12,925 |  |  | 13,677 |
Total gross deferred tax assets | 170,891 |  |  | 188,583 |
Less valuation allowance | (24,228) |  |  | (24,759) |
Net deferred tax assets | 146,663 |  |  | 163,824 |
Deferred tax liabilities: |  |  |
Intangible assets amortization, including taxable goodwill | (169,277) |  |  | (157,332) |
Property, plant and equipment depreciation | (133,712) |  |  | (144,911) |
Investment in DGD Joint Venture | (52,238) |  |  | (54,287) |
Operating lease assets | (38,049) |  |  | (32,233) |
Tax on unremitted foreign earnings | (10,234) |  |  | (6,139) |
Other | (2,685) |  |  | (2,459) |
Total gross deferred tax liabilities | (406,195) |  |  | (397,361) |
Net deferred tax liability | $ | (259,532) |  |  | $ | (233,537) |
Amounts reported on Consolidated Balance Sheets: |  |  |
Non-current deferred tax asset | $ | 16,676 |  |  | $ | 14,394 |
Non-current deferred tax liability | (276,208) |  |  | (247,931) |
Net deferred tax liability | $ | (259,532) |  |  | $ | (233,537) |

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