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v2.4.1.9

Taxes (Tables) | 12 Months Ended
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Jan. 03, 2015
Taxes |
Schedule of significant components of the consolidated deferred tax assets and liabilities | Significant components of the consolidated deferred tax assets and liabilities were (in thousands):
Fiscal Year |  | 2014 |  | 2013 |
Current deferred income tax assets (liabilities): |  |  |  |  |  |  |
Bad debt allowance |  | $ | 4,387 |  | $ | 4,467 |
Returns allowance |  |  | 8,724 |  |  | 8,641 |
Inventory |  |  | 11,882 |  |  | 12,169 |
Warranty reserve |  |  | 2,590 |  |  | 3,040 |
Compensation |  |  | 6,459 |  |  | 9,189 |
Accrued liabilities |  |  | 6,658 |  |  | 0 |
Deferred rent |  |  | 1,128 |  |  | 1,810 |
Loss carryforwards |  |  | 1,910 |  |  | 3,392 |
Other |  |  | (5,007 | ) |  | 12,070 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total current deferred tax assets |  |  | 38,731 |  |  | 54,778 |
Valuation allowance |  |  | (5,168 | ) |  | (7,946 | )
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Net current deferred income tax assets |  | $ | 33,563 |  | $ | 46,832 |
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Total short-term deferred income tax assets |  | $ | 34,084 |  | $ | 46,986 |
Total short-term deferred income tax liabilities |  |  | (521 | ) |  | (154 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net short-term deferred income tax assets |  | $ | 33,563 |  | $ | 46,832 |
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Long-term deferred income tax (liabilities) assets: |  |  |  |  |  |  |
Unrealized exchange losses |  | $ | 8,325 |  | $ | (1,939 | )
State income tax and interest on tax contingencies |  |  | 2,880 |  |  | 160 |
Fixed assets |  |  | (51,719 | ) |  | (50,194 | )
Trade names and customer lists |  |  | (6,782 | ) |  | (6,803 | )
Compensation |  |  | 3,481 |  |  | 4,803 |
Deferred rent |  |  | 9,425 |  |  | 7,456 |
Loss carryforwards |  |  | 1,409 |  |  | 2,429 |
Undistributed earnings of certain foreign subsidiaries |  |  | (52,122 | ) |  | (52,546 | )
Tax deductible foreign reserves |  |  | 3,248 |  |  | 0 |
Other |  |  | 4,231 |  |  | 11,111 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred income tax liabilities |  |  | (77,624 | ) |  | (85,523 | )
Valuation allowance |  |  | (1,653 | ) |  | (2,601 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net long-term deferred income tax liabilities |  | $ | (79,277 | ) | $ | (88,124 | )
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Total long-term deferred income tax assets |  | $ | 8,583 |  | $ | 10,044 |
Total long-term deferred income tax liabilities |  |  | (87,860 | ) |  | (98,168 | )
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Net long-term deferred income tax liabilities |  | $ | (79,277 | ) | $ | (88,124 | )
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Schedule of the amounts and the fiscal year of expiration of the entity's loss carry-forwards | The amounts and the fiscal year of expiration of the loss carryforwards are (in thousands):
Expires 2015 through 2019 |  | $ | 6,100 |
Expires 2020 through 2024 |  |  | 2,855 |
Expires 2025 through 2028 |  |  | 2,696 |
Indefinite |  |  | 3,263 |
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Total loss carryforwards |  | $ | 14,914 |
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Schedule of income before income taxes for the Company's U.S. and non-U.S. based operations | The following table identifies income before income taxes for the Company's U.S. and non-U.S. based operations for the fiscal years indicated (in thousands):
Fiscal Year |  | 2014 |  | 2013 |  | 2012 |
U.S |  | $ | 169,079 |  | $ | 194,956 |  | $ | 193,985 |
Non-U.S |  |  | 388,999 |  |  | 366,511 |  |  | 298,237 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 558,078 |  | $ | 561,467 |  | $ | 492,222 |
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Components of provision for income taxes |
Fiscal Year |  | 2014 |  | 2013 |  | 2012 |
Current provision: |  |  |  |  |  |  |  |  |  |
U.S. federal |  | $ | 84,669 |  | $ | 97,860 |  | $ | 64,552 |
Non-U.S |  |  | 74,190 |  |  | 69,901 |  |  | 60,239 |
State and local |  |  | 10,582 |  |  | 8,297 |  |  | 6,314 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total current |  |  | 169,441 |  |  | 176,058 |  |  | 131,105 |
Deferred provision (benefit) |  |  |  |  |  |  |  |  |  |
U.S. federal |  |  | 5,124 |  |  | (2,346 | ) |  | 9,485 |
Non-U.S |  |  | (3,622 | ) |  | (166 | ) |  | (2,426 | )
State and local |  |  | 524 |  |  | (127 | ) |  | (201 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred |  |  | 2,026 |  |  | (2,639 | ) |  | 6,858 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Provision for income taxes |  | $ | 171,467 |  | $ | 173,419 |  | $ | 137,963 |
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Schedule of reconciliation of the U.S. federal statutory income tax rate to the effective tax rate | A reconciliation of the U.S. federal statutory income tax rate of 35% to the Company's effective tax rate is as follows:
Fiscal Year |  | 2014 |  | 2013 |  | 2012 |
Tax at statutory rate |  |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State, net of federal tax benefit |  |  | 0.9 |  |  | 0.9 |  |  | 1.0 |
Foreign rate differential |  |  | (12.3 | ) |  | (12.5 | ) |  | (10.0 | )
U.S. tax on foreign income |  |  | 6.3 |  |  | 5.9 |  |  | 3.1 |
Income tax contingencies |  |  | 0.7 |  |  | 0.0 |  |  | (1.7 | )
Valuation allowances |  |  | (0.3 | ) |  | 0.9 |  |  | 0.0 |
Other |  |  | 0.4 |  |  | 0.7 |  |  | 0.6 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Provision for income taxes |  |  | 30.7 | % |  | 30.9 | % |  | 28.0 | %
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Schedule of reconciliation of the total amounts of unrecognized tax benefits | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for the fiscal years indicated (in thousands):
Fiscal Year |  | 2014 |  | 2013 |  | 2012 |
Balance at beginning of year |  | $ | 14,314 |  | $ | 15,549 |  | $ | 17,974 |
Gross increases tax positions in prior years |  |  | 4,234 |  |  | 3,310 |  |  | 1,245 |
Gross decreases tax positions in prior years |  |  | (1,018 | ) |  | (4,384 | ) |  | (2,580 | )
Gross increases—current year tax positions |  |  | 3,508 |  |  | 3,575 |  |  | 2,486 |
Settlements |  |  | (194 | ) |  | (3,456 | ) |  | (3,582 | )
Lapse in statute of limitations |  |  | (617 | ) |  | (297 | ) |  | 0 |
Change due to currency revaluation |  |  | (141 | ) |  | 17 |  |  | 6 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at end of year |  | $ | 20,086 |  | $ | 14,314 |  | $ | 15,549 |
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- 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/2003/role/presentationRef -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 + Details
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