Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Significant components of the provision for income taxes including those related to non-controlling interest are as follows:

(In thousands)	2016			2015			2014
Current:
Federal		$18,963			$27,768			$22,738
State	3,740			5,258			4,623
Foreign	1,450			1,713			972
Current provision	24,153			34,739			28,333
Deferred:
Federal	18,167			15,348			13,692
State	2,533			2,217			2,013
Foreign	(1,580		)	(540		)	(262		)
Deferred provision	19,120			17,025			15,443
Total income tax expense		$43,273			$51,764			$43,776

Schedule of Effective Income Tax Rate Reconciliation

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

	2016			2015			2014
Federal statutory tax expense		$45,098			$55,020			$36,836
State taxes, net of federal tax effect	3,874			4,269			4,118
Credit for increasing research activities	(3,808		)	(3,320		)	(2,569		)
Deduction related to domestic production activities	(2,243		)	(3,320		)	(1,751		)
Valuation allowance	231			565			2,474
Goodwill Impairment	—			—			4,298
Change in uncertain tax positions	117			(1,344		)	1,099
Other – net	4			(106		)	(729		)
Total income tax expense		$43,273			$51,764			$43,776

Schedule of Deferred Tax Assets and Liabilities

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

(In thousands)	2016			2015
Deferred Taxes
Allowance for doubtful accounts		$495			$1,089
Compensation	16,684			15,491
Inventory differences	3,977			4,497
Marketing accrual	1,458			1,355
Stock-based compensation	11,607			11,923
Accrued post-retirement benefit obligations	10,106			9,851
Vacation accrual	4,153			4,181
Warranty accrual	5,725			6,052
Other – net	13,044			12,167
Total deferred tax assets		$67,249			$66,606
Deferred income	(5,716		)	(4,907		)
Goodwill and other intangible assets	(87,146		)	(79,471		)
Prepaids	(9,271		)	(7,876		)
Tax over book depreciation	(70,946		)	(59,308		)
Total deferred tax liabilities		($173,079	)		($151,562	)
Valuation allowance	(4,159		)	(3,978		)
Total net deferred tax liabilities		($109,989	)		($88,934	)
Long term net deferred tax assets	719			—
Long term net deferred tax liabilities	(110,708		)	(88,934		)
Total net deferred tax liabilities		($109,989	)		($88,934	)

Summary of Valuation Allowance

The valuation allowance for deferred tax assets is as follows:

Valuation allowance for deferred tax asset (in thousands)	Balance at beginning of period		Charged to expenses		Adjustments to balance sheet			Balance at end of period
Year ended December 31, 2016		$3,978	231			($50	)		$4,159
Year ended January 2, 2016		$3,413	565		—				$3,978
Year ended January 3, 2015		$1,579		$2,474		($640	)		$3,413

Summary of Income Tax Contingencies

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

(in thousands)	2016			2015
Unrecognized tax benefits, beginning of period		$2,858			$4,250
Increases in positions taken in a prior period	86			82
Decreases in positions taken in a prior period	—			(1,611		)
New positions taken in a current period	792			793
Decrease due to settlements	(560		)	—
Decrease due to lapse of statute of limitations	(133		)	(656		)
Unrecognized tax benefits, end of period		$3,043			$2,858