XML 52 R38.htm IDEA: XBRL DOCUMENT v3.22.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 25, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Income Taxes

The components of income before income taxes were as follows (in thousands):

			Fiscal Year Ended
			December 25, 2021						December 26, 2020						December 28, 2019
United States			$	74,298					$	72,950					$	41,115
Foreign			24,202						12,225						9,948
			$	98,500					$	85,175					$	51,063

Schedule of Components of Provision for Income Taxes

The components of the provision for income taxes are as follows (in thousands):

			Fiscal Year Ended
			December 25, 2021						December 26, 2020						December 28, 2019
Current provision:
Federal			$	2,334					$	1,799					$	179
State			712						1,194						2,302
Foreign			7,661						4,278						4,202
			10,707						7,271						6,683
Deferred provision (benefit):
Federal			4,651						1,472						8,128
State			522						(267)						(1,898)
Foreign			(1,304)						(1,824)						(1,196)
			3,869						(619)						5,034
Total provision for income taxes			$	14,576					$	6,652					$	11,717

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the difference between income taxes computed by applying the federal statutory rate of 21% and the provision from income taxes (in thousands):

			Fiscal Year Ended
			December 25, 2021						December 26, 2020						December 28, 2019
U.S. statutory federal tax rate			$	20,685					$	17,887					$	10,723
State taxes and credits, net of federal benefit			811						663						441
Stock-based compensation			(6,118)						(4,962)						(911)
Research and development credits			(7,153)						(6,576)						(6,436)
Foreign taxes at rates different than the U.S.			2,286						415						1,454
Other permanent differences			2,043						400						(148)
Global intangible low-taxed income			—						—						1,369
Foreign derived intangible income			(2,486)						(3,668)						—
Change in valuation allowance			2,231						1,862						2,567
Other			2,277						631						2,658
Total			$	14,576					$	6,652					$	11,717

Schedule of Deferred Tax Assets and Liabilities

Significant deferred tax assets and liabilities consisted of the following (in thousands):

			As of
			December 25, 2021						December 26, 2020
Tax credits			$	41,650					$	42,927
Inventory reserve			13,691						13,401
Other reserves and accruals			8,523						8,610
Non-statutory stock options			2,837						2,794
Lease liability			6,717						6,934
Depreciation and amortization			17,912						20,961
Net operating loss carryforwards			18,395						18,421
Gross deferred tax assets			109,725						114,048
Valuation allowance			(40,698)						(38,466)
Total deferred tax assets			69,027						75,582
Right of use asset			(5,910)						(6,074)
Acquired intangibles and fixed assets			(4,522)						(8,395)
Unrealized investment gains			(105)						(106)
Tax on undistributed earnings			(118)						(110)
Total deferred tax liabilities			(10,655)						(14,685)
Net deferred tax assets			$	58,372					$	60,897

Summary of Tax Credit Carryforwards

Tax credits and carryforwards available to us at December 25, 2021 consisted of the following (in thousands):

						Amount						Latest Expiration Date
Federal research and development tax credit						$	34,838					2024-2041
Foreign tax credit carryforwards						1,029						2022-2027
California research credits						46,993						Indefinite
State net operating loss carryforwards						250,472						2022-Indefinite
Singapore net operating loss carryforwards						6,331						Indefinite

Schedule of Unrecognized Tax Benefits

The following table reflects changes in the unrecognized tax benefits (in thousands):

			Fiscal Year Ended
			December 25, 2021						December 26, 2020						December 28, 2019
Unrecognized tax benefit, beginning balance			$	32,497					$	28,800					$	25,224
Additions based on tax positions related to the current year			3,201						3,072						3,679
Additions based on tax positions from prior years			124						702						—
Reductions for tax positions of prior years			—						—						(5)
Reductions due to lapse of the applicable statute of limitations			(77)						(77)						(98)
Unrecognized tax benefit, ending balance			$	35,745					$	32,497					$	28,800
Interest and penalties recognized as a component of provision for income taxes			$	40					$	50					$	59
Interest and penalties accrued at period end			188						204						212

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32559-109319

+ Details

Name:	us-gaap_SummaryOfTaxCreditCarryforwardsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration