INCOME TAXES (Tables)

12 Months Ended

Dec. 26, 2015

Schedule of income tax expense (benefit)

Income tax expense (benefit) consists of:



	2015			2014			2013
Current:
Federal	$	23,130		$	52,588		$	110,847
State	4,431			5,059			16,398
Foreign	15,077			32,443			39,285
	42,638			90,090			166,530
Non-current:	(69		)	(447		)	1,392
Deferred:
Federal	3,382			447			(8,661		)
State	(333		)	1,376			(307		)
Foreign	1,809			3,428			(1,173		)
	4,858			5,251			(10,141		)
	$	47,427		$	94,894		$	157,781

Schedule of reconciliation of statutory federal income tax rate and effective tax rate

The reconciliations of the statutory federal income tax rate and the effective tax rate follows:



	2015		2014		2013
Statutory federal income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	3.1		1.8		2.4
Carryforwards, credits and changes in valuation allowances	(0.1	)	(0.4	)	(0.2	)
Foreign tax rate differences	(5.7	)	(4.4	)	(2.4	)
Changes in unrecognized tax benefits	(0.1	)	(0.2	)	0.3
Domestic production activities deduction	(3.8	)	(1.6	)	(2.1	)
Goodwill impairment	11.3		—		—
UK tax rate reduction	7.7		—		1.8
Other	3.6		3.2		0.3
	51.0	%	33.4	%	35.1	%

Schedule of tax effects of significant items comprising net deferred income tax liabilities

Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and (b) operating loss and tax credit carryforwards. The tax effects of significant items comprising the Company’s net deferred income tax liabilities are as follows:



	2015			2014
Deferred income tax assets:
Accrued expenses and allowances	$	18,320		$	17,446
Accrued insurance	1,408			882
Tax credits and loss carryforwards	130,743			148,484
Defined benefit pension liability	32,278			30,025
Inventory allowances	911			4,804
Accrued warranty	12,818			6,920
Deferred compensation	36,672			40,348
Gross deferred income tax assets	233,150			248,909
Valuation allowance	(90,837		)	(104,487		)
Net deferred income tax assets	142,313			144,422
Deferred income tax liabilities:
Work in progress	3,087			5,352
Property, plant and equipment	41,147			43,084
Intangible assets	54,162			60,316
Other liabilities	3,517			6,738
Total deferred income tax liabilities	101,913			115,490
Net deferred income tax asset/(liability)	$	40,400		$	28,932

Schedule of deferred income tax assets (liabilities) presented on the Consolidated Balance Sheets

Deferred income tax assets (liabilities) are presented as follows on the Consolidated Balance Sheets:



Balance Sheet Caption	2015			2014
Refundable and deferred income taxes	$	—		$	30,239
Other assets	76,069			70,490
Deferred income taxes	(35,669		)	(71,797		)
Net deferred income tax asset/(liability)	$	40,400		$	28,932

Schedule of activity related to unrecognized tax benefits

The following summarizes the activity related to our unrecognized tax benefits in 2015 and 2014, in thousands:



	2015			2014
Gross unrecognized tax benefits—beginning of year	$	4,268		$	4,727
Gross decreases—tax positions in prior period	(173		)	(456		)
Gross increases—current‑period tax positions	687			610
Settlements with taxing authorities	(361		)	—
Lapse of statute of limitations	(545		)	(613		)
Gross unrecognized tax benefits—end of year	$	3,876		$	4,268