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Income Taxes (Tables) | 12 Months Ended
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Dec. 30, 2017
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):
| 2017 |  |  | 2016 |  |  | 2015 |
Current: |  |  |  |  |
Federal | $ | 9,501 |  |  | $ | 18,963 |  |  | $ | 27,768 |
State | 3,408 |  |  | 3,740 |  |  | 5,258 |
Foreign | 789 |  |  | 1,450 |  |  | 1,713 |
Current provision | 13,698 |  |  | 24,153 |  |  | 34,739 |
Deferred: |  |  |  |  |  |  |  |
Federal | (35,914 | ) |  | 18,167 |  |  | 15,348 |
State | 2,552 |  |  | 2,533 |  |  | 2,217 |
Foreign | 378 |  |  | (1,580 | ) |  | (540 | )
Deferred provision | (32,984 | ) |  | 19,120 |  |  | 17,025 |
Total income tax expense | $ | (19,286 | ) |  | $ | 43,273 |  |  | $ | 51,764 |
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 (in thousands):
| 2017 |  |  | 2016 |  |  | 2015 |
Federal statutory tax expense | $ | 24,678 |  |  | $ | 45,098 |  |  | $ | 55,020 |
State taxes, net of federal tax effect | 2,197 |  |  | 3,874 |  |  | 4,269 |
Credit for increasing research activities | (3,407 | ) |  | (3,808 | ) |  | (3,320 | )
Deduction related to domestic production activities | (1,537 | ) |  | (2,243 | ) |  | (3,320 | )
Valuation allowance | 4,232 |  |  | 231 |  |  | 565 |
Federal rate adjustment to deferred taxes | (45,386 | ) |  | — |  |  | — |
Equity based compensation | (1,544 | ) |  | — |  |  | — |
Change in uncertain tax positions | (163 | ) |  | 117 |  |  | (1,344 | )
Foreign income tax rate differential | 2,094 |  |  | 845 |  |  | 1,074 |
Other – net | (450 | ) |  | (841 | ) |  | (1,180 | )
Total income tax expense | $ | (19,286 | ) |  | $ | 43,273 |  |  | $ | 51,764 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Corporation’s deferred tax liabilities and assets are as follows (in thousands):
| 2017 |  |  | 2016 |
Deferred Taxes |  |  |
Allowance for doubtful accounts | $ | 2,679 |  |  | $ | 495 |
Compensation | 5,618 |  |  | 16,684 |
Inventory differences | 2,541 |  |  | 3,977 |
Marketing accrual | 1,653 |  |  | 1,458 |
Stock-based compensation | 8,224 |  |  | 11,607 |
Accrued post-retirement benefit obligations | 6,896 |  |  | 10,106 |
Vacation accrual | 2,577 |  |  | 4,153 |
Warranty accrual | 3,737 |  |  | 5,725 |
Net operating loss carryforward | 6,534 |  |  | 5,820 |
Charitable contributions carryforward | 2,839 |  |  | — |
Other – net | 6,372 |  |  | 7,224 |
Total deferred tax assets | $ | 49,670 |  |  | $ | 67,249 |
Deferred income | (4,330 | ) |  | (5,716 | )
Goodwill and other intangible assets | (53,255 | ) |  | (87,146 | )
Prepaids | (5,862 | ) |  | (9,271 | )
Tax over book depreciation | (54,227 | ) |  | (70,946 | )
Total deferred tax liabilities | $ | (117,674 | ) |  | $ | (173,079 | )
Valuation allowance | (8,664 | ) |  | (4,159 | )
Total net deferred tax liabilities | $ | (76,668 | ) |  | $ | (109,989 | )
Long-term net deferred tax assets | 193 |  |  | 719 |
Long-term net deferred tax liabilities | (76,861 | ) |  | (110,708 | )
Total net deferred tax liabilities | $ | (76,668 | ) |  | $ | (109,989 | )
Summary of Valuation Allowance | The valuation allowance for deferred tax assets is as follows (in thousands):
|  | Balance at beginning of period |  | Charged to expenses |  | Adjustments to balance sheet |  | Balance at end of period
Year ended December 30, 2017 |  | $ | 4,159 |  |  | $ | 4,505 |  |  | $ | — |  |  | $ | 8,664 |
Year ended December 31, 2016 |  | $ | 3,978 |  |  | $ | 231 |  |  | $ | (50 | ) |  | $ | 4,159 |
Year ended January 2, 2016 |  | $ | 3,413 |  |  | $ | 565 |  |  | $ | — |  |  | $ | 3,978 |
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| 2017 |  |  | 2016 |
Balance at beginning of period | $ | 3,043 |  |  | $ | 2,858 |
Increases in positions taken in a prior period | — |  |  | 86 |
Decreases in positions taken in a prior period | (45 | ) |  | — |
New positions taken in a current period | 569 |  |  | 792 |
Decrease due to settlements | (363 | ) |  | (560 | )
Decrease due to lapse of statute of limitations | (680 | ) |  | (133 | )
Balance at end of period | $ | 2,524 |  |  | $ | 3,043 |
Schedule Of Interest And Penalties On Income Taxes | Interest, penalties, and benefits recognized in the Consolidated Statements of Comprehensive Income were as follows (in thousands):
| December 30, 2017 |  | December 31, 2016 |  | January 2, 2016
Interest, penalties, and (benefits) | $ | (25 | ) |  | $ | 70 |  |  | $ | (66 | )
The Corporation recorded a liability for interest and penalties related to unrecognized tax benefits in the Consolidated Statements of Comprehensive Income as follows (in thousands):
| December 30, 2017 |  | December 31, 2016
Liability related to unrecognized tax benefits | $ | 183 |  |  | $ | 208 |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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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=84230637&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=84230637&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=84230637&loc=d3e32840-109319 + Details
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