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Income Taxes (Tables)

12 Months Ended

Dec. 28, 2019

Income Tax Disclosure [Abstract]

Schedule of income (loss) before provision for income taxes

Income (loss) before provision for income taxes was as follows (in thousands):

	Fiscal Year Ended
	December 28, 2019				December 29, 2018				December 30, 2017
Domestic	$	84,225			$	113,078			$	71,382
Foreign	14,608				(4,456		)		4,984
Income before income taxes	$	98,833			$	108,622			$	76,366

Components of income tax expense

The components of income tax expense were as follows (in thousands):

	Fiscal Year Ended
	December 28, 2019				December 29, 2018				December 30, 2017
Current
Federal	$	13,366			$	17,627			$	17,555
State	5,004				3,676				1,691
Foreign	6,941				10,732				7,355
Total current income tax provision	$	25,311			$	32,035			$	26,601
Deferred
Federal	$	(9,345	)		$	(2,475	)		$	6,664
State	(1,783		)		(1,149		)		(2,470		)
Foreign	(650		)		(7,781		)		(5,393		)
Total deferred income tax provision	(11,778		)		(11,405		)		(1,199		)
Total income tax provision	$	13,533			$	20,630			$	25,402

Reconciliation of the expected tax (benefit) expense

The reconciliation of statutory federal income tax to actual tax expense is as follows (in thousands):

	Fiscal Year Ended
	December 28, 2019				December 29, 2018				December 30, 2017
Statutory federal income tax	$	20,755			$	22,812			$	26,728
State taxes (net of federal benefit)	3,999				4,312				2,089
Federal and state credits	(8,152		)		(5,638		)		(4,486		)
Domestic production activities deduction	—				—				(1,528		)
Excess tax benefits relating to stock-based compensation	(6,468		)		(6,529		)		(11,709		)
Tax Cuts and Jobs Act of 2017	—				2,127				11,861
Foreign-derived intangible income deduction	(4,180		)		(2,678		)		—
EMEA business restructuring	—				2,292				—
Executive compensation	2,081				745				1,354
Tax impact of foreign earnings	1,986				1,336				(636		)
Change in valuation allowance	2,678				348				800
Other	834				1,503				929
	$	13,533			$	20,630			$	25,402

Components of net deferred tax assets

The components of net deferred tax assets were as follows (in thousands):

	December 28, 2019				December 29, 2018
Deferred tax assets
Revenue reserves	$	21,355			$	17,420
Accruals and other liabilities	8,225				7,844
Operating lease liabilities	14,117				—
Tax credits and net operating loss carryforwards	8,814				7,781
Stock-based compensation	4,981				4,975
Other	5,068				4,087
Gross deferred tax assets	62,560				42,107
Valuation allowance	(3,826		)		(1,148		)
Total deferred tax assets	58,734				40,959
Deferred tax liabilities
Intangible assets	3,838				7,317
Operating lease right-of-use assets	13,249				—
Other	768				668
Total deferred tax liabilities	17,855				7,985
Net deferred tax assets	$	40,879			$	32,974

Schedule of adjustments to uncertain tax position

A summary of the Company’s adjustments to its gross unrecognized tax benefits in the current year is as follows (in thousands):

	Fiscal Year Ended
	December 28, 2019				December 29, 2018				December 30, 2017
Balance at beginning of period	$	7,119			$	4,590			$	5,146
Increase for tax positions related to the current year	770				2,891				580
Increase for tax positions related to acquisition	—				1,493				—
Increase (decrease) for tax positions related to prior years	(768		)		407				(523		)
Decrease for settlements with applicable taxing authorities	—				(2,262		)		—
Decrease for lapses of statute of limitations	—				—				(613		)
Balance at end of period	$	7,121			$	7,119			$	4,590

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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