XML 79 R46.htm IDEA: XBRL DOCUMENT
v3.25.0.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 28, 2024
Income Tax Disclosure [Abstract] |
Provision for income taxes | The provision for income taxes consisted of the following:
| Fiscal year ended
(dollars in thousands) | December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Current tax provision: |  |  |  |  |
Federal | $ | 33,397 |  |  | $ | 47,643 |  |  | $ | 43,569 |
State | 7,422 |  |  | 8,943 |  |  | 8,307 |
Foreign | 10,903 |  |  | 13,756 |  |  | 15,562 |
Total current provision | $ | 51,722 |  |  | $ | 70,342 |  |  | $ | 67,438 |
Deferred tax (benefit) provision: |  |  |  |  |
Federal | $ | (3,965) |  |  | $ | (148) |  |  | $ | (1,484) |
State | (25) |  |  | (512) |  |  | 425 |
Foreign | (2,432) |  |  | 60 |  |  | 319 |
Total deferred benefit | (6,422) |  |  | (600) |  |  | (740) |
Total provision | $ | 45,300 |  |  | $ | 69,742 |  |  | $ | 66,698 |
The components of income before income taxes were as follows:
| Fiscal year ended
(dollars in thousands) | December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Domestic | $ | 167,741 |  |  | $ | 240,627 |  |  | $ | 227,929 |
Foreign | 63,068 |  |  | 61,615 |  |  | 88,807 |
Total | $ | 230,809 |  |  | $ | 302,242 |  |  | $ | 316,736 |
Federal statutory tax rate reconciliation | The difference between the Company’s effective income tax rate and the federal statutory tax rate is reconciled below:
| Fiscal year ended
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal income tax benefit | 2.9 | % |  | 3.0 | % |  | 2.8 | %
Impact of foreign operations | (3.4) | % |  | (0.8) | % |  | (2.0) | %
Settlement of uncertain tax positions | (0.5) | % |  | (0.6) | % |  | (0.7) | %
Benefit from stock-based compensation | — | % |  | — | % |  | (0.1) | %
Other | (0.4) | % |  | 0.5 | % |  | 0.1 | %
Total | 19.6 | % |  | 23.1 | % |  | 21.1 | %
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 December 28, 2024 and December 30, 2023.
(dollars in thousands) | December 28, 2024 |  | December 30, 2023
Deferred tax assets: | Assets (Liabilities)
Accounts receivable allowance | $ | 4,321 |  |  | $ | 5,263 |
Inventory | 12,408 |  |  | 14,271 |
Accrued liabilities | 8,810 |  |  | 11,208 |
Equity-based compensation | 3,886 |  |  | 3,511 |
Deferred employee benefits | 3,062 |  |  | 3,397 |
Leasing liabilities | 128,904 |  |  | 105,756 |
Other | 5,078 |  |  | 4,771 |
Total deferred tax assets | 166,469 |  |  | 148,177 |
Deferred tax liabilities: |  |  |
Depreciation | (19,060) |  |  | (19,654) |
Leasing assets | (115,419) |  |  | (93,943) |
Tradename and licensing agreements | (63,144) |  |  | (71,361) |
Other | (2,712) |  |  | (2,516) |
Total deferred tax liabilities | (200,335) |  |  | (187,474) |
Net deferred tax liability | $ | (33,866) |  |  | $ | (39,297) |
Net deferred tax liability |
(dollars in thousands) | December 28, 2024 |  | December 30, 2023
| Assets (Liabilities)
Deferred tax assets | $ | 4,344 |  |  | $ | 2,173 |
Deferred tax liabilities | (38,210) |  |  | (41,470) |
Net deferred tax liability | $ | (33,866) |  |  | $ | (39,297) |
Unrecognized tax benefits | The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits:
(dollars in thousands) |
Balance at January 1, 2022 | $ | 8,856 |
Additions based on tax positions related to fiscal 2022 | 1,040 |
Reductions for prior year tax positions | — |
Reductions for lapse of statute of limitations | (2,803) |
Balance at December 31, 2022 | $ | 7,093 |
Additions based on tax positions related to fiscal 2023 | 1,545 |
Reductions for prior year tax positions | — |
Reductions for lapse of statute of limitations | (2,373) |
Balance at December 30, 2023 | $ | 6,265 |
Additions based on tax positions related to fiscal 2024 | 1,500 |
Reductions for prior year tax positions | — |
Reductions for lapse of statute of limitations | (1,255) |
Balance at December 28, 2024 | $ | 6,510 |

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-types1: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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + 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 the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration