INCOME TAXES (Tables)

12 Months Ended

Dec. 30, 2018

Income Tax Disclosure [Abstract]

Income Before Income Taxes by Jurisdiction

Income before income taxes by jurisdiction is as follows:

	2018		2017		2016
	(In thousands)
U.S.	$	175,805	$	773,160	$	532,853
Foreign	156,422		208,906		191,183
Total	$	332,227	$	982,066	$	724,036

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are set forth below:

	2018			2017			2016
	(In thousands)
Current:
Federal	$	8,835		$	213,146		$	165,989
Foreign	45,311			65,100			62,753
State and other	(1,263		)	35,614			20,211
Total current	52,883			313,860			248,953
Deferred:
Federal	41,104			(19,434		)	(3,529		)
Foreign	(17,160		)	(34,264		)	(2,490		)
State and other	8,596			3,737			985
Total deferred	32,540			(49,961		)	(5,034		)
	$	85,423		$	263,899		$	243,919

Schedule of Income Tax Reconciliation

The following table reconciles the statutory U.S. federal income tax rate to the Company’s effective income tax rate:

	2018			2017			2016
Federal income tax rate	21.0		%	35.0		%	35.0		%
State tax rate, net	3.6			2.6			2.2
One-time transition tax	7.9			—			—
Permanent items	1.4			—			0.8
Domestic production activity	—			(1.6	)		(1.2	)
Difference in U.S. statutory tax rate and foreign     country effective tax rate	2.3			(1.4	)		(2.8	)
Rate change	(2.5	)		(5.3	)		—
Tax credits	(7.9	)		(0.5	)		(0.6	)
Change in reserve for unrecognized tax benefits	(1.7	)		(0.7	)		(0.2	)
Change in valuation allowance	2.7			(1.2	)		(0.1	)
Other	(1.1	)		—			0.6
Total	25.7		%	26.9		%	33.7		%

Schedule of Deferred Tax Assets and Liabilities

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

	December 30, 2018			December 31, 2017
	(In thousands)
Deferred tax liabilities:
PP&E and identified intangible assets	$	217,353		$	213,500
Inventories	69,464			57,641
Insurance claims and losses	29,964			29,253
Business combinations	46,779			50,695
Other	23,434			18,519
Total deferred tax liabilities	386,994			369,608
Deferred tax assets:
Net operating losses	2,923			3,276
Foreign net operating losses	38,531			26,934
Credit carry forwards	14,461			2,425
Allowance for doubtful accounts	6,788			1,767
Deferred revenue	1,860			—
Accrued liabilities	52,181			50,389
Workers compensation	—			26,119
Pension and other postretirement benefits	—			13,379
Other	63,227			51,306
Total deferred tax assets	179,971			175,595
Valuation allowance	(26,150		)	(14,479		)
Net deferred tax assets	153,821			161,116
Net deferred tax liabilities	$	233,173		$	208,492

Schedule of Unrecognized Tax Benefits

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

	December 30, 2018			December 31, 2017
	(In thousands)
Unrecognized tax benefits, beginning of year	$	11,866		$	16,813
Increase as a result of tax positions taken during the current year	261			1,163
Increase as a result of tax positions taken during prior years	1,152			60
Decrease as a result of tax positions taken during prior years	—			(892		)
Decrease for lapse in statute of limitations	(867		)	(4,123		)
Decrease relating to settlements with taxing authorities	—			(1,155		)
Unrecognized tax benefits, end of year	$	12,412		$	11,866