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Income Taxes (Tables) | 12 Months Ended
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Dec. 28, 2020
Income Tax Disclosure [Abstract] |
Components of (Loss) Income from Continuing Operations Before Income Taxes | The components of (loss) income from continuing operations before income taxes for the years ended December 28, 2020, December 30, 2019 and December 31, 2018 are:
|  | For the Year Ended |
|  | December 28, 2020 |  |  | December 30, 2019 |  |  | December 31, 2018 |
|  | (In thousands) |
United States |  | $ | (84,582 | ) |  | $ | 16,066 |  |  | $ | 18,991 |
Foreign |  |  | 38,305 |  |  |  | 18,260 |  |  |  | 28,194 |
(Loss) income from continuing operations before income taxes |  | $ | (46,277 | ) |  | $ | 34,326 |  |  | $ | 47,185 |
Components of Income Tax Benefit (Provision) | The components of income tax benefit (provision) for the years ended December 28, 2020, December 30, 2019 and December 31, 2018 are:
|  | For the Year Ended |
|  | December 28, 2020 |  |  | December 30, 2019 |  |  | December 31, 2018 |
|  | (In thousands) |
Current benefit (provision): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (44 | ) |  | $ | 294 |  |  | $ | 381 |
State |  |  | (4,624 | ) |  |  | (2,922 | ) |  |  | (1,294 | )
Foreign |  |  | 27,902 |  |  |  | (12,748 | ) |  |  | (9,587 | )
Total current |  |  | 23,234 |  |  |  | (15,376 | ) |  |  | (10,500 | )
Deferred benefit (provision): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 2,446 |  |  |  | 1,004 |  |  |  | 97,723 |
State |  |  | 4,498 |  |  |  | (1,076 | ) |  |  | 14,351 |
Foreign |  |  | (287 | ) |  |  | 13,043 |  |  |  | (13,367 | )
Total deferred |  |  | 6,657 |  |  |  | 12,971 |  |  |  | 98,707 |
Income tax benefit (provision) |  | $ | 29,891 |  |  | $ | (2,405 | ) |  | $ | 88,207 |
Reconciliation of Provision for Income Taxes at Statutory Federal Income Tax Rate Compared to Provision for Income Taxes | The following is a reconciliation of the provision for income taxes at the statutory federal income tax rate compared to the Company’s provision for income taxes for the years ended December 28, 2020, December 30, 2019 and December 31, 2018:
|  | For the Year Ended |
|  | December 28, 2020 |  |  | December 30, 2019 |  |  | December 31, 2018 |
|  | (In thousands) |
Statutory federal income tax benefit (provision) |  | $ | 9,718 |  |  | $ | (7,209 | ) |  | $ | (9,909 | )
State income taxes, net of federal benefit and state tax credits |  |  | (2,674 | ) |  |  | (3,163 | ) |  |  | (1,953 | )
Transfer pricing |  |  | — |  |  |  | — |  |  |  | 1,483 |
Acquisition related expenses |  |  | — |  |  |  | — |  |  |  | (1,737 | )
IRC Section 162(m) limitation |  |  | (712 | ) |  |  | (868 | ) |  |  | (3,702 | )
Stock options |  |  | (1,298 | ) |  |  | (252 | ) |  |  | 1,072 |
Global Intangible Low-Taxed Income |  |  | (1,300 | ) |  |  | — |  |  |  | — |
Permanently reinvested earnings assertion |  |  | (1,442 | ) |  |  | (1,765 | ) |  |  | (14,313 | )
Foreign tax differential on foreign earnings & other permanent items |  |  | 3,933 |  |  |  | 687 |  |  |  | (3,685 | )
Change in valuation allowance |  |  | (2,668 | ) |  |  | 2,127 |  |  |  | 118,451 |
Uncertain tax positions |  |  | 36,936 |  |  |  | 999 |  |  |  | (954 | )
Federal research and development credits |  |  | 4,250 |  |  |  | 4,582 |  |  |  | 2,996 |
Goodwill impairment |  |  | (14,532 | ) |  |  | — |  |  |  | — |
Other |  |  | (320 | ) |  |  | 2,457 |  |  |  | 458 |
Income tax benefit (provision) |  | $ | 29,891 |  |  | $ | (2,405 | ) |  | $ | 88,207 |
Significant Components of Net Deferred Income Tax Assets and Liabilities | The significant components of the net deferred income tax assets (liabilities) as of December 28, 2020 and December 30, 2019 are as follows:
|  | As of |
|  | December 28, 2020 |  |  | December 30, 2019 |
|  | (In thousands) |
Deferred income tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 43,209 |  |  | $ | 78,774 |
Reserves and accruals |  |  | 29,429 |  |  |  | 24,765 |
Interest expense limitation |  |  | — |  |  |  | 13,102 |
Unrealized loss on cash flow hedge |  |  | 4,713 |  |  |  | 2,960 |
Tax credit carryforwards |  |  | 39,757 |  |  |  | 37,889 |
Stock-based compensation |  |  | 4,216 |  |  |  | 4,440 |
Original issue discount on Convertible Senior Notes |  |  | 90 |  |  |  | 870 |
Property, plant and equipment |  |  | 9,989 |  |  |  | 14,404 |
Other deferred income tax assets |  |  | 403 |  |  |  | 756 |
|  |  | 131,806 |  |  |  | 177,960 |
Less: valuation allowance |  |  | (15,322 | ) |  |  | (14,292 | )
|  |  | 116,484 |  |  |  | 163,668 |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Repatriation of foreign earnings |  |  | (4,006 | ) |  |  | (9,691 | )
Property, plant and equipment basis differences |  |  | (50,463 | ) |  |  | (56,476 | )
Goodwill and intangible amortization |  |  | (39,668 | ) |  |  | (73,263 | )
Other deferred income tax liabilities |  |  | (5,700 | ) |  |  | (102 | )
Net deferred income tax assets (included in Deposits and other non-current assets) |  | $ | 16,647 |  |  | $ | 24,136 |
Summary of Activity in Valuation Allowance | The following summarizes the activity in the Company’s valuation allowance for the years ended December 28, 2020, December 30, 2019 and December 31, 2018:
|  | For the Year Ended |
|  | December 28, 2020 |  |  | December 30, 2019 |  |  | December 31, 2018 |
|  | (In thousands) |
Balance at beginning of year |  | $ | 14,292 |  |  | $ | 16,635 |  |  | $ | 152,728 |
Reduction related to acquisition |  |  | — |  |  |  | — |  |  |  | (76,040 | )
Additions charged to expense |  |  | 3,904 |  |  |  | 1,526 |  |  |  | — |
Other reduction charged to expense |  |  | (2,874 | ) |  |  | (3,869 | ) |  |  | (60,053 | )
Balance at end of year |  | $ | 15,322 |  |  | $ | 14,292 |  |  | $ | 16,635 |
Summary of HNTE and R&D Benefit and Effect on Earnings per Share | The HNTE status as well as enhanced research and development (R&D) deductions decreased Chinese taxes. HNTE and R&D benefit and effect on earnings per share are as follows:
|  | For the Year Ended |
|  | December 28, 2020 |  |  | December 30, 2019 |  |  | December 31, 2018 |
|  | (In thousands, except per share data) |
HNTE and R&D benefits |  | $ | 4,235 |  |  | $ | 6,060 |  |  | $ | 7,277 |
Basic shares |  |  | 106,366 |  |  |  | 105,195 |  |  |  | 103,355 |
Diluted shares |  |  | 106,366 |  |  |  | 106,332 |  |  |  | 134,036 |
Increases earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.04 |  |  | $ | 0.06 |  |  | $ | 0.07 |
Diluted |  | $ | 0.04 |  |  | $ | 0.06 |  |  | $ | 0.05 |
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits, exclusive of accrued interest and penalties, is as follows:
|  | For the Year Ended |
|  | December 28, 2020 |  |  | December 30, 2019 |  |  | December 31, 2018 |
|  | (In thousands) |
Balance at beginning of year |  | $ | 37,465 |  |  | $ | 30,284 |  |  | $ | 31,276 |
Additions related to acquisition |  |  | — |  |  |  | — |  |  |  | 903 |
Additions based on tax positions related to the current year |  |  | 839 |  |  |  | 3,553 |  |  |  | 856 |
Additions for tax positions of prior years |  |  | 202 |  |  |  | 4,952 |  |  |  | 117 |
Reductions for tax positions of prior years |  |  | (27,283 | ) |  |  | (103 | ) |  |  | (2,140 | )
Lapse of statute of limitations |  |  | (3,819 | ) |  |  | (1,221 | ) |  |  | (728 | )
Balance at end of year |  | $ | 7,404 |  |  | $ | 37,465 |  |  | $ | 30,284 |

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