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Income Taxes (Tables) | 12 Months Ended
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Jan. 02, 2022
Income Tax Disclosure [Abstract] |
Earnings (Loss) From Continuing Operations Before Taxes Per Jurisdiction | Earnings (loss) before taxes and equity in net earnings (loss) of affiliate for the years 2021, 2020 and 2019 were taxed under the following jurisdictions:
| 2021 |  | 2020 |  | 2019
| (In millions of dollars)
Domestic | $ | 30.5 |  |  | $ | (84.7) |  |  | $ | 46.6 |
Foreign | 155.3 |  |  | (22.1) |  |  | 69.8 |
Total | $ | 185.8 |  |  | $ | (106.8) |  |  | $ | 116.4 |
Provision for Income Taxes From Continuing Operations | The provision for income taxes was as follows:
| 2021 |  | 2020 |  | 2019
| (In millions of dollars)
Current tax expense: |  |  |  |  |
U.S. federal | $ | 3.5 |  |  | $ | 8.2 |  |  | $ | 4.7 |
U.S. state and local | 2.1 |  |  | 5.9 |  |  | 3.0 |
Foreign | 7.9 |  |  | 9.0 |  |  | 11.0 |
Total current | 13.5 |  |  | 23.1 |  |  | 18.7 |
Deferred tax (benefit) expense: |  |  |  |  |
U.S. federal | (11.8) |  |  | (36.0) |  |  | (19.4) |
U.S. state and local | (0.7) |  |  | (12.3) |  |  | (1.6) |
Foreign | 34.1 |  |  | (8.8) |  |  | 2.7 |
Total deferred | 21.6 |  |  | (57.1) |  |  | (18.3) |
Total provision | $ | 35.1 |  |  | $ | (34.0) |  |  | $ | 0.4 |
Deferred Taxes | The deferred tax assets and liabilities are comprised of the following:
| 2021 |  | 2020
| (In millions of dollars)
Depreciation and amortization | $ | (9.5) |  |  | $ | (10.5) |
Employee compensation and benefit plans | 70.4 |  |  | 61.4 |
Accrued payroll and related taxes | 22.1 |  |  | 29.6 |
Accrued workers’ compensation | 11.7 |  |  | 13.4 |
Investment in Persol Holdings | (70.9) |  |  | (39.1) |
Investment in equity affiliate | (13.3) |  |  | (13.1) |
Operating lease liabilities | 21.8 |  |  | 21.7 |
Loss carryforwards | 36.4 |  |  | 33.6 |
Credit carryforwards | 175.0 |  |  | 161.2 |
Other, net | 6.5 |  |  | 4.3 |
Valuation allowance | (19.0) |  |  | (20.2) |
Net deferred tax assets | $ | 231.2 |  |  | $ | 242.3 |
The deferred tax balance is classified in the consolidated balance sheet as:
| 2021 |  | 2020
| (In millions of dollars)
Deferred tax asset | $ | 302.8 |  |  | $ | 282.0 |
Other long-term liabilities | (71.6) |  |  | (39.7) |
| $ | 231.2 |  |  | $ | 242.3 |
Differences Between Income Taxes From Continuing Operations and U.S. Statutory Rate | The differences between income taxes from continuing operations for financial reporting purposes and the U.S. statutory rate of 21% in 2021, 2020, and 2019 as follows:
| 2021 |  | 2020 |  | 2019
| (In millions of dollars)
Income tax based on statutory rate | $ | 39.0 |  |  | $ | (22.4) |  |  | $ | 24.4 |
State income taxes, net of federal benefit | 1.1 |  |  | (5.1) |  |  | 1.1 |
Foreign tax rate differential | 12.2 |  |  | 2.8 |  |  | 4.6 |
General business credits | (9.7) |  |  | (9.9) |  |  | (16.7) |
Life insurance cash surrender value | (5.2) |  |  | (4.6) |  |  | (6.5) |
Foreign items | 1.7 |  |  | (1.8) |  |  | 0.8 |
Sale of Brazil operations | — |  |  | (6.6) |  |  | — |
Foreign business taxes | 2.1 |  |  | 3.0 |  |  | 3.8 |
Tax law change | (5.2) |  |  | (1.7) |  |  | (0.2) |
Change in deferred tax realizability | (0.7) |  |  | 0.4 |  |  | (10.6) |
Non-deductible goodwill impairment | — |  |  | 11.9 |  |  | — |
Other | (0.2) |  |  | — |  |  | (0.3) |
Total | $ | 35.1 |  |  | $ | (34.0) |  |  | $ | 0.4 |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
| 2021 |  | 2020 |  | 2019
| (In millions of dollars)
Balance at beginning of the year | $ | 0.5 |  |  | $ | 0.9 |  |  | $ | 1.1 |
Additions for prior years’ tax positions | 0.2 |  |  | — |  |  | — |
Reductions for prior years’ tax positions | — |  |  | — |  |  | — |
Additions for settlements | — |  |  | — |  |  | — |
Reductions for settlements | — |  |  | — |  |  | — |
Reductions for expiration of statutes | (0.1) |  |  | (0.4) |  |  | (0.2) |
Balance at end of the year | $ | 0.6 |  |  | $ | 0.5 |  |  | $ | 0.9 |

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