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Income Taxes (Tables) | 12 Months Ended
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Dec. 29, 2025
Income Tax Disclosure [Abstract] |
Components of Income Before Income Taxes from Continuing Operations | The components of income before income taxes from continuing operations were as follows:
|  | For the Year Ended |
|  | December 29, 2025 |  |  | December 30, 2024 |  |  | January 1, 2024 |
|  | (In thousands) |
United States |  | $ | 62,677 |  |  | $ | (36,745 | ) |  | $ | (105,101 | )
Foreign |  |  | 147,660 |  |  |  | 120,694 |  |  |  | 105,398 |
Income before income taxes |  | $ | 210,337 |  |  | $ | 83,949 |  |  | $ | 297 |
Components of Income Tax Provision from Continuing Operations | The components of income tax provision from continuing operations were as follows:
|  | For the Year Ended |
|  | December 29, 2025 |  |  | December 30, 2024 |  |  | January 1, 2024 |
|  | (In thousands) |
Current (provision) benefit: |  |  |  |  |  |  |  |  |
Federal |  | $ | (3,235 | ) |  | $ | (2,984 | ) |  | $ | 445 |
State |  |  | (2,900 | ) |  |  | (2,958 | ) |  |  | (1,592 | )
Foreign |  |  | (22,964 | ) |  |  | (22,934 | ) |  |  | (29,094 | )
Total current |  |  | (29,099 | ) |  |  | (28,876 | ) |  |  | (30,241 | )
Deferred (provision) benefit: |  |  |  |  |  |  |  |  |
Federal |  |  | (1,664 | ) |  |  | 340 |  |  |  | 1,321 |
State |  |  | (216 | ) |  |  | 85 |  |  |  | 271 |
Foreign |  |  | (1,910 | ) |  |  | 801 |  |  |  | 9,634 |
Total deferred |  |  | (3,790 | ) |  |  | 1,226 |  |  |  | 11,226 |
Total income tax (provision) benefit: |  |  |  |  |  |  |  |  |
Federal |  |  | (4,899 | ) |  |  | (2,644 | ) |  |  | 1,766 |
State |  |  | (3,116 | ) |  |  | (2,873 | ) |  |  | (1,321 | )
Foreign |  |  | (24,874 | ) |  |  | (22,133 | ) |  |  | (19,460 | )
Income tax provision |  | $ | (32,889 | ) |  | $ | (27,650 | ) |  | $ | (19,015 | )
Reconciliation of Provision for Income Taxes at Statutory Federal Income Tax Rate Compared to Provision for Income Taxes | The reconciliation of the provision for income taxes at the statutory federal income tax rate compared to the Company’s provision for income taxes was as follows:
|  | For the Year Ended December 29, 2025 |
|  | Amount |  |  | Rate |
|  | (In thousands, except rates) |
U.S. federal statutory income tax |  | $ | (44,171 | ) |  |  | 21.0 | %
Domestic federal tax effects: |  |  |  |  |  |
Tax credits |  |  |  |  |  |
Research credits |  |  | 4,696 |  |  |  | (2.2 | )
Foreign tax credits |  |  | 11,681 |  |  |  | (5.6 | )
Nontaxable and nondeductible items |  |  |  |  |  |
IRC section 162(m) limitation |  |  | (4,355 | ) |  |  | 2.1 |
Other |  |  | 421 |  |  |  | (0.2 | )
Cross-border tax laws |  |  |  |  |  |
Global intangible low-taxed income |  |  | (30,760 | ) |  |  | 14.6 |
Foreign derived intangible income |  |  | 16,916 |  |  |  | (8.0 | )
Excess tax benefits on share-based payments |  |  | 5,355 |  |  |  | (2.5 | )
Change in valuation allowance |  |  | 5,983 |  |  |  | (2.8 | )
Domestic state and local income taxes, net of federal effect |  |  | (3,116 | ) |  |  | 1.5 |
Foreign tax effects: |  |  |  |  |  |
China |  |  |  |  |  |
Super research and development expenditure |  |  | 3,482 |  |  |  | (1.7 | )
Tax settlement |  |  | (3,221 | ) |  |  | 1.5 |
Other |  |  | 681 |  |  |  | (0.3 | )
Hong Kong |  |  |  |  |  |
Statutory income tax rate differential |  |  | 4,123 |  |  |  | (2.0 | )
Other |  |  | (450 | ) |  |  | 0.2 |
Other foreign jurisdictions |  |  | 1,177 |  |  |  | (0.6 | )
Worldwide changes in unrecognized tax benefits |  |  | (1,331 | ) |  |  | 0.6 |
Total income tax provision |  | $ | (32,889 | ) |  |  | 15.6 | %
|  | For the Year Ended |
|  | December 30, 2024 |  |  | January 1, 2024 |
| (In thousands) |
Statutory federal income tax provision |  | $ | (17,629 | ) |  | $ | (62 | )
State income taxes, net of federal benefit and state tax credits |  |  | (672 | ) |  |  | (1,875 | )
IRC section 162(m) limitation |  |  | (1,467 | ) |  |  | (2,121 | )
Stock options |  |  | 453 |  |  |  | (651 | )
Global intangible low-taxed income |  |  | (7,435 | ) |  |  | (12,639 | )
Foreign tax credits |  |  | 10,131 |  |  |  | 14,916 |
Permanently reinvested earnings assertion |  |  | (2,634 | ) |  |  | (3,934 | )
Foreign tax differential on foreign earnings and other permanent items |  |  | 6,928 |  |  |  | 3,788 |
Change in valuation allowance |  |  | (13,650 | ) |  |  | (13,460 | )
Uncertain tax positions |  |  | — |  |  |  | 957 |
Federal research and development credits |  |  | 6,052 |  |  |  | 4,665 |
Goodwill impairment |  |  | (6,846 | ) |  |  | (9,261 | )
Other |  |  | (881 | ) |  |  | 662 |
Income tax provision |  | $ | (27,650 | ) |  | $ | (19,015 | )
Significant Components of Net Deferred Income Tax Assets and Liabilities | The significant components of the net deferred income tax assets (liabilities) were as follows:
|  | As of |
|  | December 29, 2025 |  |  | December 30, 2024 |
|  | (In thousands) |
Deferred income tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 28,843 |  |  | $ | 29,974 |
Reserves and accruals |  |  | 59,071 |  |  |  | 57,453 |
Interest expense limitation |  |  | — |  |  |  | 41 |
Tax credit carryforwards |  |  | 30,334 |  |  |  | 33,559 |
Stock-based compensation |  |  | 8,038 |  |  |  | 6,591 |
Property, plant, and equipment |  |  | 3,515 |  |  |  | 3,748 |
Intangible and capitalized research expenditure amortization |  |  | 1,909 |  |  |  | 7,601 |
Operating lease liabilities |  |  | 22,913 |  |  |  | — |
Other deferred income tax assets |  |  | 1,822 |  |  |  | 880 |
|  |  | 156,445 |  |  |  | 139,847 |
Less: Valuation allowance |  |  | (85,963 | ) |  |  | (95,373 | )
|  |  | 70,482 |  |  |  | 44,474 |
Deferred income tax liabilities: |  |  |  |  |  |
Debt discount and issuance cost |  |  | (1,123 | ) |  |  | (1,582 | )
Repatriation of foreign earnings |  |  | (6,196 | ) |  |  | (4,961 | )
Property, plant, and equipment basis differences |  |  | (85,275 | ) |  |  | (74,632 | )
Goodwill and intangible amortization |  |  | (1,458 | ) |  |  | (1,358 | )
Unrealized gain on cash flow hedge |  |  | (527 | ) |  |  | (1,895 | )
Operating lease right-of-use assets |  |  | (19,342 | ) |  |  | — |
Other deferred income tax liabilities |  |  | (329 | ) |  |  | (465 | )
Net deferred income tax liabilities (included in other long-term liabilities and deposits and other non-current assets) |  | $ | (43,768 | ) |  | $ | (40,419 | )
Summary of Activity in Valuation Allowance | A summary of the activity in the Company’s valuation allowance was as follows:
|  | For the Year Ended |
|  | December 29, 2025 |  |  | December 30, 2024 |  |  | January 1, 2024 |
|  | (In thousands) |
Balance at beginning of year |  | $ | 95,373 |  |  | $ | 81,779 |  |  | $ | 67,173 |
(Reduction) addition charged to expense |  |  | (2,937 | ) |  |  | 13,743 |  |  |  | 13,811 |
Addition related to acquisition |  |  | — |  |  |  | — |  |  |  | 1,187 |
Reduction related to tax law changes |  |  | (5,983 | ) |  |  | — |  |  |  | — |
Reduction related to other comprehensive income |  |  | (530 | ) |  |  | — |  |  |  | — |
Other addition (reduction) charged to expense |  |  | 40 |  |  |  | (149 | ) |  |  | (392 | )
Balance at end of year |  | $ | 85,963 |  |  | $ | 95,373 |  |  | $ | 81,779 |
Summary of HNTE and R&D Benefit and Effect on Earnings per Share | The HNTE and R&D benefit and effect on earnings per share were as follows:
|  | For the Year Ended |
|  | December 29, 2025 |  |  | December 30, 2024 |  |  | January 1, 2024 |
|  | (In thousands, except per share data) |
HNTE and R&D benefit |  | $ | 5,792 |  |  | $ | 5,187 |  |  | $ | 6,056 |
Basic shares |  |  | 102,598 |  |  |  | 101,781 |  |  |  | 102,744 |
Diluted shares |  |  | 105,453 |  |  |  | 104,098 |  |  |  | 102,744 |
Increase on earnings per share: |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.06 |  |  | $ | 0.05 |  |  | $ | 0.06 |
Diluted |  |  | 0.05 |  |  |  | 0.05 |  |  |  | 0.06 |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of unrecognized tax benefits, exclusive of accrued interest and penalties, was as follows:
|  | For the Year Ended |
|  | December 29, 2025 |  |  | December 30, 2024 |  |  | January 1, 2024 |
|  | (In thousands) |
Balance at beginning of year |  | $ | 10,639 |  |  | $ | 10,363 |  |  | $ | 9,778 |
Additions based on tax positions related to the current year |  |  | 1,125 |  |  |  | 1,220 |  |  |  | 934 |
Additions for tax positions of prior years |  |  | 977 |  |  |  | — |  |  |  | 13 |
Reductions for tax positions of prior years |  |  | — |  |  |  | (3 | ) |  |  | — |
Lapse of statute of limitations |  |  | (337 | ) |  |  | (941 | ) |  |  | (362 | )
Balance at end of year |  | $ | 12,404 |  |  | $ | 10,639 |  |  | $ | 10,363 |
Summary of Income Taxes Paid Net of Refunds | A summary of the Company's income taxes paid, net of refunds was as follows:
|  | For the Year Ended December 29, 2025 |
|  | (In thousands) |
U.S. federal |  | $ | 3,460 |
U.S. state and local |  |  | 4,258 |
Foreign: |  |  |
China |  |  | 4,209 |
Hong Kong |  |  | 23,668 |
Other |  |  | 1,842 |
Total foreign |  |  | 29,719 |
Total income taxes paid, net of refunds |  | $ | 37,437 |

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