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Income Taxes (Tables)

12 Months Ended

Dec. 28, 2019

Income Tax Disclosure [Abstract]

Components of Income from Continuing Operations Before Income Taxes

The components of income before provision for income taxes are as follows:

(In thousands)		December 28, 2019				December 29, 2018				December 30, 2017
Domestic		$	93			$	(397	)		$	2,797
Foreign		68,829				79,925				54,856
		$	68,922			$	79,528			$	57,653

Components of the Provision for Income Taxes from Continuing Operations

The components of the provision for income taxes are as follows:

(In thousands)		December 28, 2019				December 29, 2018				December 30, 2017
Current (Benefit) Provision:
Federal		$	(264	)		$	724			$	7,835
Foreign		18,778				21,829				17,372
State		335				169				285
		18,849				22,722				25,492
Deferred (Benefit) Provision:
Federal		(453		)		(2,551		)		4,682
Foreign		(1,253		)		(1,761		)		(3,563		)
State		(785		)		72				(541		)
		(2,491		)		(4,240		)		578
		$	16,358			$	18,482			$	26,070

Income Tax Reconciliation

The provision for income taxes in the accompanying statement of income differs from the provision calculated by applying the statutory federal income tax rate to income before provision for income taxes due to the following:

(In thousands)		December 28, 2019				December 29, 2018				December 30, 2017
Provision for Income Taxes at Statutory Rate (21% in 2019 and 2018 and 35% in 2017)		$	14,474			$	16,701			$	20,179
Increases (Decreases) Resulting From:
State income taxes, net of federal tax		(355		)		164				151
U.S. tax cost of foreign earnings		146				1,215				761
Foreign tax rate differential		2,584				3,158				(3,747		)
(Reversal of) provision for tax benefit reserves, net		(286		)		(1,785		)		1,517
Change in valuation allowance		81				141				(341		)
Nondeductible expenses		2,454				781				1,177
Research and development tax credits		(381		)		(445		)		(297		)
Excess tax benefit related to stock-based compensation		(3,352		)		(967		)		(581		)
Impact of the U.S. Tax Cuts and Jobs Act		—				(106		)		7,093
Other		993				(375		)		158
		$	16,358			$	18,482			$	26,070

Net Deferred Tax (Liability) Asset

Net deferred tax liability in the accompanying consolidated balance sheet consists of the following:

(In thousands)		December 28, 2019				December 29, 2018
Deferred Tax Asset:
Foreign, state, and alternative minimum tax credit carryforwards		$	776			$	184
Reserves and accruals		3,007				3,555
Net operating loss carryforwards		12,478				12,785
Inventory basis difference		4,107				3,692
Capitalized research expenses		2,813				—
Research and development		65				—
Employee compensation		3,630				4,382
Allowance for doubtful accounts		351				482
Lease liabilities		7,543				—
Other		478				294
Deferred tax asset, gross		35,248				25,374
Less: valuation allowance		(8,531		)		(9,946		)
Deferred tax asset, net		26,717				15,428
Deferred Tax Liability:
Goodwill and intangible assets		(30,003		)		(28,060		)
Fixed asset basis difference		(4,557		)		(3,565		)
Provision for unremitted foreign earnings		(809		)		(1,124		)
Research and development		—				(54		)
ROU assets		(6,433		)		—
Other		(943		)		(619		)
Deferred tax liability		(42,745		)		(33,422		)
Net deferred tax liability		$	(16,028	)		$	(17,994	)

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits at year-end 2019 and year-end 2018 is as follows:

(In thousands)		December 28, 2019				December 29, 2018
Unrecognized Tax Benefits, Beginning of Year		$	12,364			$	7,843
Gross Increases—Tax Positions in Prior Periods		615				1,019
Gross Decreases—Tax Positions in Prior Periods		(4,373		)		(390		)
Gross Increases—Current-period Tax Positions		804				7,344
Settlements		—				(131		)
Lapses of Statutes of Limitations		(1,094		)		(3,190		)
Currency Translation		15				(131		)
Unrecognized Tax Benefits, End of Year		$	8,331			$	12,364

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