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Income Taxes (Tables) | 12 Months Ended
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Dec. 29, 2023
Income Tax Disclosure [Abstract] |
Provision for (Benefit from) Income Taxes | The provision for income taxes consisted of the following (U.S. dollars in millions):
| Year ended
| December 29, 2023 |  | December 30, 2022 |  | December 31, 2021
Current: |  |  |  |  |
U.S. federal income tax | $ | 0.1 |  |  | $ | 0.3 |  |  | $ | (2.1) |
State | 1.0 |  |  | 0.7 |  |  | 0.3 |
Non-U.S. | 20.8 |  |  | 16.6 |  |  | 18.8 |
| 21.9 |  |  | 17.6 |  |  | 17.0 |
Deferred: |  |  |  |  |
U.S. federal income tax | (1.1) |  |  | — |  |  | (5.0) |
State | (0.2) |  |  | — |  |  | (1.2) |
Non-U.S. | (2.5) |  |  | 2.5 |  |  | (8.8) |
| (3.8) |  |  | 2.5 |  |  | (15.0) |
| $ | 18.1 |  |  | $ | 20.1 |  |  | $ | 2.0 |
Schedule of Income Before Income Tax, Domestic and Foreign | Income before income taxes consisted of the following (U.S. dollars in millions):
| Year ended
| December 29, 2023 |  | December 30, 2022 |  | December 31, 2021
U.S. | $ | (136.4) |  |  | $ | 1.0 |  |  | $ | (24.7) |
Non-U.S. | 152.9 |  |  | 116.8 |  |  | 106.6 |
| $ | 16.5 |  |  | $ | 117.8 |  |  | $ | 81.9 |
Differences Between Reported Provision for (Benefit from) Income Taxes and Income Taxes Computed at U.S. Statutory Federal Income Tax Rate | The differences between the reported provision for income taxes and income taxes computed at the U.S. statutory federal income tax rate are explained in the following reconciliation (U.S. dollars in millions):
| Year ended (1)
| December 29, 2023 |  | December 30, 2022 |  | December 31, 2021
Income tax provision computed at the U.S. statutory federal rate | $ | 3.4 |  |  | $ | 24.7 |  |  | $ | 17.2 |
Effect of tax rates on non-U.S. operations | (70.8) |  |  | (71.7) |  |  | (67.9) |
Provision for uncertain tax positions | 1.5 |  |  | 1.7 |  |  | 2.3 |
Non-deductible interest | 23.1 |  |  | 0.7 |  |  | 0.6 |
Foreign exchange | 8.1 |  |  | 2.8 |  |  | (6.1) |
Non-deductible intercompany charges | — |  |  | 0.5 |  |  | 0.1 |
Non-deductible differences | (0.7) |  |  | 0.9 |  |  | 2.0 |
Non-taxable income/loss | (0.5) |  |  | 0.6 |  |  | (4.8) |
Non-deductible impairment charges | 5.4 |  |  | — |  |  | 1.1 |
Adjustment to deferred balances | — |  |  | — |  |  | 0.1 |
Other | 0.8 |  |  | (3.3) |  |  | 3.1 |
State tax benefit | (4.4) |  |  | 0.1 |  |  | (1.0) |
Other taxes in lieu of income | 3.5 |  |  | 5.5 |  |  | 4.5 |
Change in deferred rate | — |  |  | — |  |  | 0.1 |
Benefit from net operating loss carryback provision (C.A.R.E.S. Act) | — |  |  | — |  |  | (0.8) |
Increase in valuation allowance (2) | 48.7 |  |  | 57.6 |  |  | 51.5 |
Provision for income taxes | $ | 18.1 |  |  | $ | 20.1 |  |  | $ | 2.0 |
_____________ (1) Certain amounts from prior year have been conformed to current year presentation (2) The increase in valuation allowance includes effects of foreign exchange and adjustments to deferred tax balances which were fully offset by valuation allowance.
Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities consisted of the following (U.S. dollars in millions):
|  | December 29, |  | December 30,
Deferred tax liabilities: | 2023 |  | 2022
| Allowances and other accrued liabilities | $ | (0.2) |  |  | $ | (0.1) |
| Inventories | (14.8) |  |  | (17.1) |
| Property, plant and equipment | (69.7) |  |  | (75.7) |
| Equity in earnings of unconsolidated companies | (0.5) |  |  | (0.2) |
| Pension obligations | (2.7) |  |  | (2.6) |
| Other noncurrent deferred tax liabilities | (28.1) |  |  | (26.8) |
| ROU assets | (21.6) |  |  | (21.0) |
| Total noncurrent deferred tax liabilities | $ | (137.6) |  |  | $ | (143.5) |
Deferred tax assets: |  |  |
| Allowances and other accrued assets | $ | 13.9 |  |  | $ | 17.9 |
| Inventories | 9.6 |  |  | 5.9 |
| Pension obligations | 22.4 |  |  | 21.4 |
| Property, plant and equipment | 3.6 |  |  | 1.0 |
| Post-retirement benefits other than pension | 2.7 |  |  | 3.6 |
| Net operating loss carryforwards | 434.5 |  |  | 434.2 |
| Capital loss carryover | 2.2 |  |  | 2.1 |
| Other noncurrent assets | 129.7 |  |  | 93.9 |
| Operating lease | 23.5 |  |  | 22.9 |
| Total noncurrent deferred tax assets | 642.1 |  |  | 602.9 |
| Valuation allowance | (525.7) |  |  | (483.5) |
| Total deferred tax assets, net | $ | 116.4 |  |  | $ | 119.4 |
Net deferred tax liabilities | $ | (21.2) |  |  | $ | (24.1) |
Federal and Foreign Tax Operating Loss Carry-Forwards Expiring | At December 29, 2023, we had approximately $1,664.4 million of federal and foreign tax operating loss carryforwards expiring as follows (U.S. dollars in millions):
Expires: |
2024 | $ | 1.4 |
2025 | 24.3 |
2026 | 20.1 |
2027 | 11.2 |
2028 and beyond | 13.3 |
No expiration | 1,594.1 |
| $ | 1,664.4 |
Reconciliation of Beginning and Ending Amount of Uncertain Tax Positions Excluding Interest and Penalties | A reconciliation of the beginning and ending amount of uncertain tax positions excluding interest and penalties is as follows (U.S. dollars in millions):
| December 29, 2023 |  | December 30, 2022 |  | December 31, 2021
Beginning balance | $ | 6.1 |  |  | $ | 5.0 |  |  | $ | 3.5 |
Gross increases - current-period tax positions | 1.2 |  |  | 1.2 |  |  | 1.7 |
Settlements | (1.1) |  |  | — |  |  | — |
Foreign exchange | 0.2 |  |  | (0.1) |  |  | (0.2) |
Ending balance | $ | 6.4 |  |  | $ | 6.1 |  |  | $ | 5.0 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
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