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Income Taxes | 6 Months Ended
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Jul. 01, 2017
Income Tax Disclosure [Abstract] |
Income Taxes |
10. | Income Taxes
The effective tax rates for the three and six months ended July 1, 2017 were 36.5% and 23.2%, respectively. The effective tax rates for the three and six months ended July 2, 2016 were 31.5% and 30.0%, respectively. For the six months ended July 1, 2017, the primary difference between the US federal statutory tax rate and the Company’s consolidated effective tax rate was due to the $11,633 tax benefit related to the cessation of operations of the Company’s Spanish subsidiary, partially offset by $604 of tax expense related to tax shortfalls in connection with the updated guidance on stock compensation in the first quarter of fiscal 2017, as described in Note 3. For the six months ended July 2, 2016, the primary difference between the US federal statutory tax rate and the Company’s consolidated effective tax rate was due to the reversal of a $2,500 valuation allowance related to tax benefits for foreign losses expected to be realized. The differences between the US federal statutory tax rate and the Company’s consolidated effective tax rate is as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 1, |  |  | July 2, |  |  | July 1, |  |  | July 2, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
US federal statutory tax rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State income taxes (net of federal benefit) |  |  | 1.8 | % |  |  | 0.8 | % |  |  | 2.4 | % |  |  | 0.1 | %
Cessation of Spanish operations |  |  | 0.4 | % |  |  | 0.0 | % |  |  | (16.0 | %) |  |  | 0.0 | %
Research and development credit |  |  | (1.1 | %) |  |  | 0.0 | % |  |  | (2.2 | %) |  |  | 0.0 | %
Tax shortfall on share-based awards |  |  | (0.8 | %) |  |  | 0.0 | % |  |  | 0.8 | % |  |  | 0.0 | %
Reserves for uncertain tax positions |  |  | 0.4 | % |  |  | 0.2 | % |  |  | 0.7 | % |  |  | 0.6 | %
Increase (decrease) in valuation allowance |  |  | 0.1 | % |  |  | (1.2 | %) |  |  | 1.2 | % |  |  | (9.4 | %)
Other |  |  | 0.7 | % |  |  | (3.3 | %) |  |  | 1.3 | % |  |  | 3.7 | %
Effective Tax Rate |  |  | 36.5 | % |  |  | 31.5 | % |  |  | 23.2 | % |  |  | 30.0 | %

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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