XML 97 R82.htm IDEA: XBRL DOCUMENT v3.22.4
Income Tax - Reconciliation of Statutory Federal Rate to Effective Rate (Detail)
 12 Months Ended
Mar. 27, 2020
Dec. 31, 2022
Jan. 01, 2022
Jan. 02, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]        
Federal statutory income tax rate 35.00% 21.00% 21.00% 21.00%
Stock compensation   (2.80%) 0.00% 0.70%
Non-deductible expenses   5.50% 1.70% 1.90%
Change in tax contingencies   (0.10%) 0.00% 0.90%
Charitable product donations   (0.30%) (0.10%) (0.20%)
Other, net   (0.10%) (0.30%) (1.00%)
Federal loss carryback [1]       (11.90%)
State taxes, net of federal income tax benefit   6.70% 3.80% 1.70%
Tax credits   (3.70%) (0.90%) (2.00%)
Effective income tax rate   26.40% 25.20% 11.10%
[1] On March 27, 2020, the U.S. government enacted tax legislation to provide economic stimulus and support businesses and individuals during the COVID-19 pandemic, referred to as the Coronavirus Aid, Relief and Economic Security (“CARES”) Act. In connection with the CARES Act, the Company recorded net discrete income tax benefits of $10.1 million in 2020 associated with the additional deductibility of certain expenses combined with provisions which enable companies to carry back tax losses to years prior to the enactment of the Tax Cuts and Jobs Act (“Tax Reform”), where the federal statutory income tax rate was 35%. As a result of carrying back losses to previous tax years, the Company recorded $0.8 million in expense to reinstate tax contingencies which had previously expired, included in the “Change in tax contingencies” line in the table above.