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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Significant components of the provision for income taxes including those related to non-controlling interest are as follows:
(In thousands) | 2016 |  |  | 2015 |  |  | 2014 |
Current: |  |  |  |  |
Federal |  | $18,963 |  |  |  | $27,768 |  |  |  | $22,738 |
State | 3,740 |  |  | 5,258 |  |  | 4,623 |
Foreign | 1,450 |  |  | 1,713 |  |  | 972 |
Current provision | 24,153 |  |  | 34,739 |  |  | 28,333 |
Deferred: |  |  |  |  |  |  |  |
Federal | 18,167 |  |  | 15,348 |  |  | 13,692 |
State | 2,533 |  |  | 2,217 |  |  | 2,013 |
Foreign | (1,580 | ) |  | (540 | ) |  | (262 | )
Deferred provision | 19,120 |  |  | 17,025 |  |  | 15,443 |
Total income tax expense |  | $43,273 |  |  |  | $51,764 |  |  |  | $43,776 |
Schedule of Effective Income Tax Rate Reconciliation | The differences between the actual tax expense and tax expense computed at the statutory U.S. Federal tax rate are explained as follows:
| 2016 |  |  | 2015 |  |  | 2014 |
Federal statutory tax expense |  | $45,098 |  |  |  | $55,020 |  |  |  | $36,836 |
State taxes, net of federal tax effect | 3,874 |  |  | 4,269 |  |  | 4,118 |
Credit for increasing research activities | (3,808 | ) |  | (3,320 | ) |  | (2,569 | )
Deduction related to domestic production activities | (2,243 | ) |  | (3,320 | ) |  | (1,751 | )
Valuation allowance | 231 |  |  | 565 |  |  | 2,474 |
Goodwill Impairment | — |  |  | — |  |  | 4,298 |
Change in uncertain tax positions | 117 |  |  | (1,344 | ) |  | 1,099 |
Other – net | 4 |  |  | (106 | ) |  | (729 | )
Total income tax expense |  | $43,273 |  |  |  | $51,764 |  |  |  | $43,776 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Corporation’s deferred tax liabilities and assets are as follows:
(In thousands) | 2016 |  |  | 2015 |
Deferred Taxes |  |  |
Allowance for doubtful accounts |  | $495 |  |  |  | $1,089 |
Compensation | 16,684 |  |  | 15,491 |
Inventory differences | 3,977 |  |  | 4,497 |
Marketing accrual | 1,458 |  |  | 1,355 |
Stock-based compensation | 11,607 |  |  | 11,923 |
Accrued post-retirement benefit obligations | 10,106 |  |  | 9,851 |
Vacation accrual | 4,153 |  |  | 4,181 |
Warranty accrual | 5,725 |  |  | 6,052 |
Other – net | 13,044 |  |  | 12,167 |
Total deferred tax assets |  | $67,249 |  |  |  | $66,606 |
Deferred income | (5,716 | ) |  | (4,907 | )
Goodwill and other intangible assets | (87,146 | ) |  | (79,471 | )
Prepaids | (9,271 | ) |  | (7,876 | )
Tax over book depreciation | (70,946 | ) |  | (59,308 | )
Total deferred tax liabilities |  | ($173,079 | ) |  |  | ($151,562 | )
Valuation allowance | (4,159 | ) |  | (3,978 | )
Total net deferred tax liabilities |  | ($109,989 | ) |  |  | ($88,934 | )
Long term net deferred tax assets | 719 |  |  | — |
Long term net deferred tax liabilities | (110,708 | ) |  | (88,934 | )
Total net deferred tax liabilities |  | ($109,989 | ) |  |  | ($88,934 | )
Summary of Valuation Allowance | The valuation allowance for deferred tax assets is as follows:
Valuation allowance for deferred tax asset (in thousands) | Balance at beginning of period |  | Charged to expenses |  | Adjustments to balance sheet |  | Balance at end of period
Year ended December 31, 2016 |  | $3,978 |  |  | 231 |  |  |  | ($50 | ) |  |  | $4,159 |
Year ended January 2, 2016 |  | $3,413 |  |  | 565 |  |  | — |  |  |  | $3,978 |
Year ended January 3, 2015 |  | $1,579 |  |  |  | $2,474 |  |  |  | ($640 | ) |  |  | $3,413 |
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
(in thousands) | 2016 |  |  | 2015 |
Unrecognized tax benefits, beginning of period |  | $2,858 |  |  |  | $4,250 |
Increases in positions taken in a prior period | 86 |  |  | 82 |
Decreases in positions taken in a prior period | — |  |  | (1,611 | )
New positions taken in a current period | 792 |  |  | 793 |
Decrease due to settlements | (560 | ) |  | — |
Decrease due to lapse of statute of limitations | (133 | ) |  | (656 | )
Unrecognized tax benefits, end of period |  | $3,043 |  |  |  | $2,858 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32840-109319 + Details
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