Income Taxes (Tables)

12 Months Ended

Dec. 29, 2012

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Significant components of the provision for income taxes including those related to noncontrolling interest and discontinued operations are as follows:

(In thousands)	2012			2011			2010
Current:
Federal	$	19,132		$	8,931		$	5,530
State	2,460			1,929			2,176
Foreign	1,175			1,719			569
Current provision	22,767			12,579			8,275
Deferred:
Federal	6,692			10,829			7,027
State	603			1,307			(331		)
Foreign	(784		)	(304		)	(84		)
Deferred provision	6,511			11,832			6,612
	$	29,278		$	24,411		$	14,887

Schedule of Effective Income Tax Rate Reconciliation

The differences between the actual tax expense (benefit) and tax expense (benefit) computed at the statutory U.S. Federal tax rate are explained as follows:

	2012			2011			2010
Federal statutory tax expense (benefit)	$	27,386		$	24,639		$	14,640
State taxes, net of federal tax effect	2,164			2,096			1,199
Credit for increasing research activities	—			(942		)	(839		)
Deduction related to domestic production activities	(1,192		)	(1,005		)	(874		)
Foreign income tax differential	(899		)	(629		)	(666		)
Executive compensation limitation	1,672			40			—
Valuation allowance	—			2			1,149
Uncertain tax positions	611			654			558
Other tax credits	—			(203		)	—
Other – net	(464		)	(241		)	(280		)
Total income tax expense (benefit)	$	29,278		$	24,411		$	14,887

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Corporation’s deferred tax liabilities and assets are as follows:

(In thousands)	2012			2011			2010
Net long-term deferred tax liabilities:
Compensation	5,399			4,367			4,324
Stock-based compensation	7,069			5,582			4,086
Accrued post-retirement benefit obligations	5,918			5,749			5,459
OCI tax effected items	2,585			2,159			1,394
Other – net	435			3,501			2,862
Total long-term deferred tax assets	21,406			21,358			18,125
Goodwill	(63,200		)	(56,878		)	(47,186		)
Tax over book depreciation	$	(12,720	)	$	(6,300	)	$	(450	)
Total long-term deferred tax liabilities	(75,920		)	(63,178		)	(47,636		)
Valuation allowance	(919		)	(950		)	(1,014		)
Total net long-term deferred tax liabilities	(55,433		)	(42,770		)	(30,525		)
Net current deferred tax assets:
Allowance for doubtful accounts	1,233			1,691			1,987
Vacation accrual	3,920			3,078			2,938
Inventory differences	3,660			3,676			3,730
Marketing accrual	1,348			1,323			1,653
Warranty accrual	4,587			4,748			4,861
Compensation	5,609			5,532			1,758
Other – net	7,042			4,300			6,213
Total current deferred tax assets	27,399			24,348			23,140
Deferred income	(3,949		)	(3,933		)	(3,040		)
Prepaids	(812		)	(952		)	(1,017		)
Total current deferred tax liabilities	(4,761		)	(4,885		)	(4,057		)
Valuation allowance	(661		)	(666		)	(616		)
Total net current deferred tax assets	21,977			18,797			18,467
Net deferred tax (liabilities) assets	$	(33,456	)	$	(23,973	)	$	(12,058	)

Summary of Income Tax Contingencies

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

(in thousands)	2012			2011			2010
Unrecognized tax benefits, beginning of period	$	3,098		$	3,193		$	3,446
Increases (decreases) in positions taken in a prior period	14			492			78
Decreases in positions taken in a prior period	(8		)	(16		)	(73		)
Increases in positions taken in a current period	626			670			571
Decrease due to settlements	—			—			—
Decrease due to lapse of statute of limitations	(803		)	(1,241		)	(829		)
Unrecognized tax benefits, end of period	$	2,927		$	3,098		$	3,193