Income Taxes (Tables)

12 Months Ended

Dec. 30, 2022

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes consisted of the following:

	Year Ended
	December 30,			December 31,			December 25,
(In millions)	2022			2021			2020
Current:
Federal	$	(0.8	)	$	-		$	(0.1	)
State		1.1			1.0			0.9
Foreign		37.5			30.0			18.1
Total current		37.8			31.0			18.9
Deferred:
Federal		0.3			0.3			0.3
State		0.2			0.4			0.5
Foreign		(0.4	)		(3.8	)		(0.4	)
Total deferred		0.1			(3.1	)		0.4
Total provision	$	37.9		$	27.9		$	19.3

U.S. and Foreign Components of Income before Income Taxes

Income before provision for income taxes was generated from the following geographic areas:

	Year Ended
	December 30,			December 31,			December 25,
(In millions)	2022			2021			2020
United States	$	(61.9	)	$	(42.1	)	$	(24.5	)
Foreign		150.2			196.4			124.2
Total pretax income	$	88.3		$	154.3		$	99.7

Effective Tax Rate Differs from U.S. Federal Statutory Tax Rate

The effective tax rate differs from the U.S. federal statutory tax rate as follows:

	Year Ended
	December 30,				December 31,				December 25,
	2022				2021				2020
Federal income tax provision at    statutory rate		21.0		%		21.0		%		21.0		%
State income taxes, net of federal    benefit		(1.6	)	%		(0.1	)	%		0.6		%
Effect of foreign operations		(6.7	)	%		(10.3	)	%		(8.3	)	%
Change in valuation allowance		24.3		%		2.9		%		(0.1	)	%
Foreign income inclusions		4.0		%		4.9		%		4.6		%
Nondeductible executive compensation		1.8		%		1.8		%		-		%
Excess tax benefits related to stock-based compensation		(0.3	)	%		(3.1	)	%		-		%
Other		0.4		%		1.0		%		1.5		%
Effective Tax Rate		42.9		%		18.1		%		19.3		%

Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:

	Year Ended
	December 30,			December 31,
(In millions)	2022			2021
Deferred tax assets:
Interest expense limitation	$	19.1		$	13.0
Operating lease liabilities		14.7			11.4
Intangibles		13.1			12.9
Tax loss carryforwards		15.4			11.2
Capitalized research and development costs		7.0			—
Inventory valuation and basis difference		4.0			7.4
Accruals		5.9			3.7
Tax credits		4.9			4.2
Other timing differences		5.0			4.7
		89.1			68.5
Valuation allowance		(53.1	)		(30.9	)
Total deferred tax assets		36.0			37.6
Deferred tax liabilities:
Goodwill		(17.4	)		(15.2	)
Operating lease right-of-use assets		(14.5	)		(10.8	)
Intangibles		(10.9	)		(19.7	)
Depreciation		(7.1	)		(8.7	)
Other		(2.3	)		(0.5	)
Total deferred tax liabilities		(52.2	)		(54.9	)
Net deferred tax liabilities	$	(16.2	)	$	(17.3	)

Activity Related to Company's Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in millions):

Balance as of December 27, 2019	$	1.0
Expiration of the statute of limitations for the assessment of taxes		(0.1	)
Balance at December 25, 2020	$	0.9
Increases related to prior year tax positions		0.2
Increases related to current year tax positions		0.7
Expiration of the statute of limitations for the assessment of taxes		(0.2	)
Balance at December 31, 2021	$	1.6
Increases related to prior year tax positions		0.1
Increases related to current year tax positions		1.0
Balance at December 30, 2022	$	2.7