XML 49 R38.htm IDEA: XBRL DOCUMENT v3.22.0.1

INCOME TAXES (Tables)

12 Months Ended

Jan. 01, 2022

Income Tax Disclosure [Abstract]

Provision for income taxes

The provision for income taxes consisted of the following:

			For the fiscal year ended
(dollars in thousands)			January 1, 2022						January 2, 2021						December 28, 2019
Current tax provision:
Federal			$	75,408					$	31,085					$	50,162
State			16,905						6,331						10,548
Foreign			19,761						11,105						16,740
Total current provision			$	112,074					$	48,521					$	77,450
Deferred tax provision (benefit):
Federal			$	(10,541)					$	(18,449)					$	(10,775)
State			(2,428)						(3,741)						(1,882)
Foreign			(563)						(1,064)						(643)
Total deferred provision			(13,532)						(23,254)						(13,300)
Total provision			$	98,542					$	25,267					$	64,150

The components of income before income taxes were as follows:

			For the fiscal year ended
(dollars in thousands)			January 1, 2022						January 2, 2021						December 28, 2019
Domestic			$	333,900					$	73,525					$	225,488
Foreign			104,390						61,459						102,464
Total			$	438,290					$	134,984					$	327,952

Federal statutory tax rate reconciliation

The difference between the Company’s effective income tax rate and the federal statutory tax rate is reconciled below:

			For the fiscal year ended
			January 1, 2022						January 2, 2021						December 28, 2019
Statutory federal income tax rate			21.0		%				21.0		%				21.0		%
State income taxes, net of federal income tax benefit			3.0		%				2.7		%				2.5		%
Impact of foreign operations			(1.8)		%				(4.8)		%				(2.4)		%
Settlement of uncertain tax positions			(0.3)		%				(1.3)		%				(0.7)		%
Benefit from stock-based compensation			(0.3)		%				(1.1)		%				(0.8)		%
Goodwill impairments and other			0.9		%				2.2		%				—		%
Total			22.5		%				18.7		%				19.6		%

Components of deferred tax assets and liabilities

The following table reflects the Company’s calculation of the components of deferred tax assets and liabilities as of January 1, 2022 and January 2, 2021.

(dollars in thousands)			January 1, 2022						January 2, 2021
Deferred tax assets:			Assets (Liabilities)
Accounts receivable allowance			$	7,026					$	4,072
Inventory			11,923						11,775
Accrued liabilities			22,226						13,807
Equity-based compensation			3,410						5,039
Deferred employee benefits			5,144						7,928
Leasing liabilities			97,269						130,776
Other			3,845						4,961
Total deferred tax assets			150,843						178,358
Deferred tax liabilities:
Depreciation			(26,472)						(38,777)
Leasing assets			(80,818)						(107,269)
Tradename and licensing agreements			(76,275)						(76,409)
Other			(5,388)						(5,593)
Total deferred tax liabilities			(188,953)						(228,048)
Net deferred tax liability			$	(38,110)					$	(49,690)

Net deferred tax liability

(dollars in thousands)			January 1, 2022						January 2, 2021
			Assets (Liabilities)
Deferred tax assets			$	2,800					$	3,080
Deferred tax liabilities			(40,910)						(52,770)
Net deferred tax liability			$	(38,110)					$	(49,690)

Unrecognized tax benefits

The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits:

(dollars in thousands)
Balance at December 29, 2018			$	13,917
Additions based on tax positions related to fiscal 2019			2,197
Reductions for lapse of statute of limitations			(2,191)
Balance at December 28, 2019			$	13,923
Additions based on tax positions related to fiscal 2020			760
Reductions for prior year tax positions			(104)
Reductions for lapse of statute of limitations			(2,056)
Balance at January 2, 2021			$	12,523
Additions based on tax positions related to fiscal 2021			810
Reductions for prior year tax positions			(2,207)
Reductions for lapse of statute of limitations			(2,270)
Balance at January 1, 2022			$	8,856

X

- Definition

A tabular disclosure of net deferred tax liability as classified on the accompanying consolidated balance sheet.

+ References

No definition available.

+ Details

Name:	cri_NetDeferredTaxLiabilityTableTextBlock
Namespace Prefix:	cri_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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 unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319

+ Details

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