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Income Taxes (Tables)

12 Months Ended

Jan. 02, 2016

Schedule of Components of Income Tax Expense (Benefit)

The following tables summarize the Company’s consolidated provision for US federal, state and foreign taxes on income:

		January 2, 2016				January 3, 2015				December 28, 2013
Current:
US federal		$	(6,862	)		$	12,904			$	60,030
State			1,859				(131	)			9,583
Foreign			15,740				24,059				25,647
		$	10,737			$	36,832			$	95,260
Deferred:
US federal		$	10,756			$	25,162			$	30,513
State			1,890				2,876				3,487
Foreign			(548	)			1,061				358
		$	12,098			$	29,099			$	34,358
Total tax provision		$	22,835			$	65,931			$	129,618

Schedule of Income before Income Tax, Domestic and Foreign

The components of the Company’s consolidated income before income taxes consist of the following:

		January 2, 2016				January 3, 2015				December 28, 2013
Domestic		$	6,299			$	88,024			$	248,637
Foreign			49,315				95,640				83,723
		$	55,614			$	183,664			$	332,360

Schedule of Effective Income Tax Rate Reconciliation

The difference between the US federal statutory tax rate and the Company’s consolidated effective tax rate is as follows:

		January 2, 2016				January 3, 2015				December 28, 2013
US federal statutory rate			35.0	%			35.0	%			35.0	%
States income taxes (net of federal benefit)			3.8				1.3				2.7
Reserves for uncertain tax positions			3.5				0.4				(0.1	)
Foreign taxes			(0.4	)			(0.6	)			0.4
(Decrease) increase in valuation allowance			(2.2	)			1.7				0.9
Loss on closure of China			0.0				(2.1	)			0.0
Other			1.4				0.2				0.1
Effective tax rate			41.1	%			35.9	%			39.0	%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities recorded on the Company’s consolidated balance sheets are as follows:

		January 2, 2016				January 3, 2015
Provision for estimated expenses		$	4,638			$	7,863
Depreciation			4,164				0
Operating loss carryforwards			34,285				37,746
Salaries and wages			641				9,567
Share-based compensation			14,330				6,653
Other			8,024				6,922
Other comprehensive income			24,778				13,060
Less: valuation allowance			(28,279	)			(34,640	)
Total deferred tax assets		$	62,581			$	47,171
Depreciation		$	0			$	(6,482	)
Other			(1,823	)			(3,123	)
Amortization			(210,901	)			(188,745	)
Total deferred tax liabilities		$	(212,724	)		$	(198,350	)
Net deferred tax liabilities		$	(150,143	)		$	(151,179	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

		January 2, 2016				January 3, 2015				December 28, 2013
Balance at beginning of year		$	6,268			$	5,784			$	5,319
Additions based on tax positions related to the current year			2,106				1,304				1,428
Reductions for tax positions of prior years			(676	)			(820	)			(963	)
Balance at end of year		$	7,698			$	6,268			$	5,784

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

+ References

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319

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