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Income Taxes (Tables)

12 Months Ended

Jan. 02, 2021

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)						January 2, 2021						December 28, 2019						December 29, 2018
Domestic						$	14,132					$	93					$	(397)
Foreign						59,555						68,829						79,925
						$	73,687					$	68,922					$	79,528

Components of the Provision for Income Taxes from Continuing Operations

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

(In thousands)						January 2, 2021						December 28, 2019						December 29, 2018
Current Provision (Benefit):
Federal						$	339					$	(264)					$	724
Foreign						16,800						18,778						21,829
State						667						335						169
						17,806						18,849						22,722
Deferred Provision (Benefit):
Federal						2,146						(453)						(2,551)
Foreign						(2,361)						(1,253)						(1,761)
State						357						(785)						72
						142						(2,491)						(4,240)
						$	17,948					$	16,358					$	18,482

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)						January 2, 2021						December 28, 2019						December 29, 2018
Provision for Income Taxes at Statutory Rate						$	15,474					$	14,474					$	16,701
Increases (Decreases) Resulting From:
State income taxes, net of federal tax						807						(355)						164
U.S. tax cost of foreign earnings						599						146						1,215
Foreign tax rate differential						1,891						2,584						3,158
Reversal of tax benefit reserves, net						(730)						(286)						(1,785)
Change in valuation allowance						(469)						81						141
Nondeductible expenses						2,214						2,454						781
Research and development tax credits						(465)						(381)						(445)
Excess tax benefit related to stock-based compensation						(758)						(3,352)						(967)
Impact of the U.S. Tax Cuts and Jobs Act						—						—						(106)
Other						(615)						993						(375)
						$	17,948					$	16,358					$	18,482

Net Deferred Tax (Liability) Asset

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

(In thousands)						January 2, 2021						December 28, 2019
Deferred Tax Asset:
Foreign, state, and alternative minimum tax credit carryforwards						$	472					$	776
Reserves and accruals						3,565						3,007
Net operating loss carryforwards						13,719						12,478
Inventory basis difference						4,576						4,107
Capitalized research expenses						2,668						2,813
Employee compensation						3,189						3,630
Allowance for credit losses						397						351
Lease liabilities						6,855						7,543
Other						213						543
Deferred tax asset, gross						35,654						35,248
Less: valuation allowance						(9,609)						(8,531)
Deferred tax asset, net						26,045						26,717
Deferred Tax Liability:
Goodwill and intangible assets						(30,166)						(30,003)
Fixed asset basis difference						(4,964)						(4,557)
Provision for unremitted foreign earnings						(1,233)						(809)
ROU assets						(5,812)						(6,433)
Other						(1,574)						(943)
Deferred tax liability						(43,749)						(42,745)
Net deferred tax liability						$	(17,704)					$	(16,028)

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits at year-end 2020 and year-end 2019 is as follows:

(In thousands)						January 2, 2021						December 28, 2019
Unrecognized Tax Benefits, Beginning of Year						$	8,331					$	12,364
Gross Increases—Tax Positions in Prior Periods						4						615
Gross Decreases—Tax Positions in Prior Periods						(21)						(4,373)
Gross Increases—Current-period Tax Positions						1,468						804
Lapses of Statutes of Limitations						(1,488)						(1,094)
Currency Translation						43						15
Unrecognized Tax Benefits, End of Year						$	8,337					$	8,331

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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