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Income Taxes (Tables)

12 Months Ended

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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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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