XML 101 R53.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 29, 2024
Income Tax Disclosure [Abstract] |
Earnings (Loss) From Continuing Operations Before Taxes Per Jurisdiction | Earnings (loss) before taxes and equity in net earnings of affiliate for the years 2024, 2023 and 2022 were taxed under the following jurisdictions (in millions of dollars):
| 2024 |  | 2023 |  | 2022
Domestic | $ | (33.2) |  |  | $ | 29.9 |  |  | $ | (39.4) |
Foreign | 11.3 |  |  | (5.0) |  |  | (31.8) |
Total | $ | (21.9) |  |  | $ | 24.9 |  |  | $ | (71.2) |
Provision for Income Taxes From Continuing Operations | The provision for income taxes was as follows (in millions of dollars):
| 2024 |  | 2023 |  | 2022
Current tax expense: |  |  |  |  |
U.S. federal | $ | (0.7) |  |  | $ | 1.0 |  |  | $ | 1.3 |
U.S. state and local | (0.8) |  |  | 2.5 |  |  | 1.4 |
Foreign | 8.0 |  |  | 9.9 |  |  | 61.5 |
Total current | 6.5 |  |  | 13.4 |  |  | 64.2 |
Deferred tax (benefit) expense: |  |  |  |  |
U.S. federal | (24.9) |  |  | (36.8) |  |  | (2.5) |
U.S. state and local | (2.6) |  |  | (3.6) |  |  | 0.7 |
Foreign | (0.3) |  |  | 15.5 |  |  | (70.3) |
Total deferred | (27.8) |  |  | (24.9) |  |  | (72.1) |
Total provision | $ | (21.3) |  |  | $ | (11.5) |  |  | $ | (7.9) |
Deferred Taxes | The deferred tax assets and liabilities are comprised of the following (in millions of dollars):
| 2024 |  | 2023
Fixed assets and right-of-use assets | $ | (15.2) |  |  | $ | (19.0) |
Intangible assets and goodwill | 0.1 |  |  | 19.0 |
Employee compensation and benefit plans | 77.0 |  |  | 71.5 |
Outside basis difference on held for sale assets | — |  |  | 34.7 |
Operating lease liabilities | 17.7 |  |  | 18.3 |
Net operating loss carryforwards | 10.9 |  |  | 36.7 |
Capital loss carryforward | 19.6 |  |  | — |
Credit carryforwards | 230.6 |  |  | 208.7 |
Other, net | 23.6 |  |  | 15.4 |
Valuation allowance | (34.2) |  |  | (60.5) |
Net deferred tax assets | $ | 330.1 |  |  | $ | 324.8 |
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 2024, 2023, and 2022 are as follows (in millions of dollars):
| 2024 |  | 2023 |  | 2022
Income tax based on statutory rate | $ | (4.6) |  |  | $ | 5.2 |  |  | $ | (14.9) |
State income taxes, net of federal benefit | (2.7) |  |  | (0.9) |  |  | 1.6 |
Foreign tax rate differential | 0.9 |  |  | 4.6 |  |  | 1.6 |
U.S. work opportunity credits | (7.8) |  |  | (8.5) |  |  | (10.7) |
Life insurance cash surrender value | (6.2) |  |  | (6.5) |  |  | 7.8 |
Foreign items | 0.3 |  |  | 3.0 |  |  | 0.1 |
Foreign-derived intangible income deduction | (3.0) |  |  | (2.3) |  |  | (2.3) |
Sale of foreign subsidiaries | 0.4 |  |  | — |  |  | 3.9 |
Foreign business taxes | — |  |  | 1.1 |  |  | 1.8 |
Change in deferred tax realizability | (0.4) |  |  | 4.4 |  |  | — |
Non-deductible expenses | 2.1 |  |  | 0.7 |  |  | — |
Uncertain tax positions | — |  |  | (0.3) |  |  | 0.1 |
Stock compensation | 0.4 |  |  | 0.7 |  |  | 0.6 |
Outside basis difference on held for sale assets | — |  |  | (13.1) |  |  | — |
MRP earnout liability revaluation | (0.7) |  |  | — |  |  | — |
Non-deductible goodwill impairment | — |  |  | — |  |  | 2.7 |
Other | — |  |  | 0.4 |  |  | (0.2) |
Total | $ | (21.3) |  |  | $ | (11.5) |  |  | $ | (7.9) |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions of dollars):
| 2024 |  | 2023 |  | 2022
Balance at beginning of the year | $ | 0.6 |  |  | $ | 0.5 |  |  | $ | 0.6 |
Additions for prior years’ tax positions | — |  |  | 0.3 |  |  | — |
Reductions for prior years’ tax positions | — |  |  | — |  |  | — |
Additions for settlements | — |  |  | — |  |  | — |
Reductions for settlements | — |  |  | — |  |  | — |
Reductions for expiration of statutes | (0.1) |  |  | (0.2) |  |  | (0.1) |
Balance at end of the year | $ | 0.5 |  |  | $ | 0.6 |  |  | $ | 0.5 |

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 income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
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