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Income Taxes (Tables)

12 Months Ended

Dec. 30, 2023

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 30, 2023						December 31, 2022						December 25, 2021
United States			$	(10,681)					$	30,047					$	74,298
Foreign			99,948						27,823						24,202
			$	89,267					$	57,870					$	98,500

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 30, 2023						December 31, 2022						December 25, 2021
Current provision:
Federal			$	8,970					$	4,330					$	2,334
State			835						520						712
Foreign			9,175						8,625						7,661
			18,980						13,475						10,707
Deferred provision (benefit):
Federal			(10,810)						(5,886)						4,651
State			(330)						118						522
Foreign			(960)						(575)						(1,304)
			(12,100)						(6,343)						3,869
Total provision for income taxes			$	6,880					$	7,132					$	14,576

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 30, 2023						December 31, 2022						December 25, 2021
U.S. statutory federal tax rate			$	18,746					$	12,153					$	20,685
State taxes and credits, net of federal benefit			(87)						16						811
Stock-based compensation			1,424						(2,772)						(6,118)
Tax credits			(13,368)						(8,264)						(7,153)
Foreign taxes at rates different than the U.S.			9,046						2,404						2,286
Other permanent differences			1,010						1,964						2,043
Foreign gain exclusion(1)			(21,567)						—						—
Global intangible low-taxed income			7,885						7						—
Foreign derived intangible income			(2,986)						(5,160)						(2,486)
Change in valuation allowance			2,569						2,597						2,231
Tax contingencies, net of reversals			4,259						3,124						2,812
Other			(51)						1,063						(535)
Total			$	6,880					$	7,132					$	14,576

(1) The rate reconciliation includes an exclusion of a portion of the gain on the sale of the FRT business under German tax law.

Schedule of Deferred Tax Assets and Liabilities

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

			As of
			December 30, 2023						December 31, 2022
Tax credits			$	29,074					$	33,025
Inventory reserve			14,626						14,269
Other reserves and accruals			9,580						6,527
Non-statutory stock options			2,771						3,180
Lease liability			6,175						6,024
Research and development expenditures capitalization			51,698						36,821
Net operating loss carryforwards			17,484						18,173
Gross deferred tax assets			131,408						118,019
Valuation allowance			(45,864)						(43,295)
Total deferred tax assets			85,544						74,724
Right-of-use assets			(5,445)						(5,219)
Acquired intangibles and fixed assets			(863)						(4,342)
Unrealized investment gains			(103)						(103)
Tax on undistributed earnings			(169)						(146)
Total deferred tax liabilities			(6,580)						(9,810)
Net deferred tax assets			$	78,964					$	64,914

Summary of Tax Credit Carryforwards

Tax credits and carryforwards available to us at December 30, 2023 consisted of the following (in thousands):

						Amount						Latest Expiration Date
Federal research and development tax credit						$	19,672					2040-2042
Foreign tax credit carryforwards						948						2024-2027
California research credits						57,077						Indefinite
State net operating loss carryforwards						241,241						2026-Indefinite
Singapore net operating loss carryforwards						4,279						Indefinite

Schedule of Unrecognized Tax Benefits

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

			Fiscal Year Ended
			December 30, 2023						December 31, 2022						December 25, 2021
Unrecognized tax benefit, beginning balance			$	40,098					$	35,745					$	32,497
Additions based on tax positions related to the current year			4,726						3,868						3,201
Additions based on tax positions from prior years			858						795						124
Reductions for tax positions of prior years			—						—						—
Reductions due to lapse of the applicable statute of limitations			(108)						(310)						(77)
Unrecognized tax benefit, ending balance			$	45,574					$	40,098					$	35,745
Interest and penalties recognized as a component of provision for income taxes			$	34					$	30					$	40
Interest and penalties accrued at period end			63						85						188

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