Income Taxes (Tables)

12 Months Ended

Jan. 02, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following tables summarize the Company’s consolidated provision for U.S. federal, state and foreign taxes on income:

	January 2,			December 28,			December 29,
	2021			2019			2018
Current:
U.S. federal	$	(14,052	)	$	20,900		$	1,235
State		4,421			1,873			5,918
Foreign		28,533			18,164			27,013
	$	18,902		$	40,937		$	34,166
Deferred:
U.S. federal	$	94		$	(9,137	)	$	(10,367	)
State		(2,835	)		(2,434	)		(2,566	)
Foreign		1,301			2,147			(740	)
	$	(1,440	)	$	(9,424	)	$	(13,673	)
Total tax provision	$	17,462		$	31,513		$	20,493

Schedule of Income before Income Tax, Domestic and Foreign

The components of the Company’s consolidated income before income taxes consist of the following:

	January 2,			December 28,		December 29,
	2021			2019		2018
Domestic	$	(10,467	)	$	75,932	$	126,171
Foreign		102,970			75,028		117,890
	$	92,503		$	150,960	$	244,061

Summary of Differences Between U.S. Federal Statutory Tax Rate and Company's Consolidated Effective Tax Rate

The difference between the U.S. federal statutory tax rate and the Company’s consolidated effective tax rate is as follows:

	January 2,			December 28,			December 29,
	2021			2019			2018
U.S. federal statutory tax rate		21.0	%		21.0	%		21.0	%
State income taxes (net of federal benefit)		1.0	%		(0.3	%)		1.1	%
Cessation of operations		0.0	%		(0.5	%)		(0.8	%)
Research and development credit		(2.2	%)		(1.2	%)		(0.5	%)
Tax windfall on share-based awards		(4.3	%)		(0.1	%)		(8.6	%)
Reserves for uncertain tax positions		0.9	%		(0.9	%)		(1.4	%)
Tax rate changes		(1.2	%)		0.0	%		0.3	%
Decrease in valuation adjustment    related to foreign tax credits		0.0	%		0.0	%		(3.5	%)
Executive compensation limitation		1.2	%		0.5	%		0.3	%
GILTI		(8.2	%)		2.3	%		1.5	%
FDII		(1.5	%)		(3.7	%)		(1.9	%)
Increase (decrease) in valuation allowance    due to net operating loss		0.0	%		0.4	%		(0.7	%)
Out-of-period adjustments		2.5	%		0.0	%		0.0	%
Tax return adjustments related to the 2017    Tax Act		0.0	%		(0.7	%)		(1.1	%)
Impact of foreign operations		8.7	%		3.4	%		3.2	%
Other		1.0	%		0.7	%		(0.5	%)
Total effective tax rate		18.9	%		20.9	%		8.4	%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities recorded on the Company’s consolidated balance sheets are as follows:

	January 2,			December 28,
	2021			2019
Interest expense disallowance	$	32,971		$	38,396
Operating lease liabilities		31,108			39,095
Operating loss carryforwards		8,780			9,375
Provision for estimated expenses		1,643			2,578
Salaries and wages		3,875			2,037
Share-based compensation		14,747			7,533
Other comprehensive income		8,525			9,816
Other		6,320			4,125
Less: valuation allowance		(7,190	)		(6,760	)
Total deferred tax assets	$	100,779		$	106,195
Goodwill and intangible assets	$	(227,198	)	$	(228,048	)
Operating lease assets		(28,378	)		(36,670	)
Depreciation		(3,912	)		(1,082	)
Prepaid expenses		(1,379	)		(1,311	)
Total deferred tax liabilities	$	(260,867	)	$	(267,111	)
Net deferred tax liabilities	$	(160,088	)	$	(160,916	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	January 2,		December 28,			December 29,
	2021		2019			2018
Balance at beginning of year	$	206	$	3,665		$	15,173
Increases related to tax positions taken in current year		0		0			60
Increases related to tax positions taken in prior years		605		264			1,207
Reductions related to tax positions taken in prior years		0		(2,731	)		(10,560	)
Reductions related to settlements with tax authorities		0		(992	)		(2,215	)
Effects of foreign currency translation		40		0			0
Balance at end of year	$	851	$	206		$	3,665