XML 94 R79.htm IDEA: XBRL DOCUMENT v3.10.0.1
INCOME TAXES (Details) - USD ($)
3 Months Ended 12 Months Ended
Dec. 29, 2018
Dec. 29, 2018
Dec. 30, 2017
Dec. 31, 2016
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries        
United States   $ 127,852,000 $ 152,372,000 $ 136,682,000
Foreign   15,589,000 76,092,000 83,772,000
Earnings before income taxes and equity in earnings of nonconsolidated subsidiaries   143,441,000 228,464,000 220,454,000
2017 tax act, estimated income tax expense     41,935  
2017 tax act, estimated income tax expense from decrease related to deferred taxes $ 20,372,000   20,372,000  
Unremitted foreign earnings 394,000 394,000    
Current:        
Federal   21,106,000 49,324,000 41,539,000
State   6,585,000 4,415,000 5,467,000
Foreign   17,559,000 12,880,000 19,123,000
Total   45,250,000 66,619,000 66,129,000
Non-current:   (456,000) (229,000) (381,000)
Deferred:        
Federal   213,000 (9,626,000) 8,504,000
State   9,000 (385,000) 202,000
Foreign $ 11,673,000 (1,881,000) 49,766,000 (32,391,000)
Total   (1,659,000) 39,755,000 (23,685,000)
Total income tax expense (benefit)   $ 43,135,000 $ 106,145,000 $ 42,063,000
Reconciliations of statutory federal income tax rate and effective tax rate        
Statutory federal income tax rate (as a percent) 25.00% 21.00% 35.00% 35.00%
State income taxes, net of federal benefit (as a percent)   3.50% 1.40% 1.70%
Carryforwards, credits and changes in valuation allowances (as a percent)   3.20% (1.40%) 2.90%
Foreign tax rate differences (as a percent)   (1.00%) (4.10%) (4.80%)
Changes in unrecognized tax benefits (as a percent)   (0.30%) (0.10%) (0.20%)
Domestic production activities deduction (as a percent)   (0.00%) (2.10%) (2.00%)
Goodwill impairment (as a percent)   2.20% 0.00% 0.00%
UK tax rate reduction (as a percent)   0.00% 0.00% 1.00%
Reversal of contingent liability (as a percent)   (0.00%) (0.00%) (2.20%)
UK defined benefit pension plan (as a percent)   (0.00%) (0.00%) (14.60%)
Effects of 2017 Tax Act (as a percent)   (0.50%) 18.40% 0.00%
Other (as a percent)   2.00% (0.60%) 2.30%
Total (as a percent)   30.10% 46.50% 19.10%
Deferred income tax assets:        
Accrued expenses and allowances $ 4,354,000 $ 4,354,000 $ 13,373,000  
Accrued insurance 644,000 644,000 818,000  
Tax credits and loss carryforwards 56,867,000 56,867,000 54,521,000  
Defined benefit pension liability 36,328,000 36,328,000 47,459,000  
Inventory allowances 4,384,000 4,384,000 3,433,000  
Accrued warranty 3,914,000 3,914,000 4,602,000  
Deferred compensation 28,706,000 28,706,000 29,421,000  
Gross deferred income tax assets 135,197,000 135,197,000 153,627,000  
Valuation allowance (33,228,000) (33,228,000) (27,864,000)  
Net deferred income tax assets 101,969,000 101,969,000 125,763,000  
Deferred income tax liabilities:        
Work-in-process 1,064,000 1,064,000 1,805,000  
Property, plant and equipment 25,477,000 25,477,000 26,826,000  
Intangible assets 44,850,000 44,850,000 39,613,000  
Withholding taxes 2,746,000 2,746,000 11,673,000  
Other liabilities 4,545,000 4,545,000 1,819,000  
Total deferred income tax liabilities 78,682,000 78,682,000 81,736,000  
Net deferred income tax asset/(liability) 23,287,000 23,287,000 44,027,000  
Deferred income tax assets (liabilities), Balance Sheet Caption        
Other assets 66,776,000 66,776,000 78,933,000  
Deferred income taxes (43,489,000) (43,489,000) (34,906,000)  
Net deferred income tax asset/(liability) 23,287,000 23,287,000 44,027,000  
Income tax expense due to nondeductible goodwill impairment   3,171    
Income tax expense due to nondeductible restructuring charges   6,756    
Remeasurement of income tax benefit related to UK benefit plans   32,450,000    
Provision for valuation allowance   9,888,000    
Reversal of non-current contingent liability   16,591,000    
Tax credit and net operating loss carryforwards related to the defined benefit pension obligation 57,000 57,000 54,521,000  
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]        
Gross Unrecognized Tax Benefits beginning of year   3,196,000 3,400,000  
Gross increases—tax positions in prior period   103,000 5,000  
Gross decreases tax positions in prior period   (199,000) 0  
Gross increases current period tax positions   280,000 1,044,000  
Settlements with taxing authorities   (50,000) (65,000)  
Lapse of statute of limitations   (731,000) (1,188,000)  
Gross Unrecognized Tax Benefits end of year 2,599,000 2,599,000 3,196,000 $ 3,400,000
Uncertain tax positions for which reversal is reasonably possible during the next 12 months 766 766    
Reduction of income tax expense, due to expiration of statutes of limitation   577,000 772,000  
Accrued interest and penalties relating to unrecognized tax benefits 196,000 196,000 187,000  
Unrecognized tax benefits that, if recognized, would affect effective tax rate 2,536,000 2,536,000 3,059,000  
Federal        
Income Tax Contingency [Line Items]        
2017 tax act, provisional transition tax obligation     9,890,000  
2017 tax act, measurement basis adjustment, expense (benefit)   (550)    
Foreign        
Income Tax Contingency [Line Items]        
2017 tax act, provisional transition tax obligation     10,373  
2017 tax act, measurement basis adjustment, expense (benefit)   (140)    
2017 tax act, transition tax obligation 918 918    
State        
Income Tax Contingency [Line Items]        
2017 tax act, provisional transition tax obligation     $ 1,300  
2017 tax act, transition tax obligation $ 99 99    
U.K. | Capital Loss Carryforward        
Deferred income tax assets (liabilities), Balance Sheet Caption        
Decrease in tax capital loss carryforwards   $ 60,691,000