Income Taxes (Tables)

12 Months Ended

Jan. 03, 2015

Income Tax Disclosure [Abstract]

Income Before Taxes And Noncontrolling Interest

Income (loss) before taxes consisted of the following (in millions):

	2014			2013		2012
United States	$	(11.2	)	$	75.4	$	121.3
Foreign	101.5			95.1		148.6
Total	$	90.3		$	170.5	$	269.9

Provision For Income Taxes

The provision for income taxes is summarized as follows (in millions):

	2014			2013			2012
Current
Federal	$	37.8		$	15.4		$	24.5
State	1.5			4.8			7.2
Foreign	41.3			29.8			31.4
	80.6			50.0			63.1
Deferred	(26.4		)	(5.5		)	6.5
Total	$	54.2		$	44.5		$	69.6

Reconciliation Of The Statutory Federal Income Tax Rate And The Effective Tax Rate

A reconciliation of the statutory Federal income tax rate and the effective tax rate reflected in the consolidated statements of income follows:

	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	(0.4	)%	1.9	%	2.0	%
Domestic production activities deduction	(2.7	)%	(1.4	)%	(1.0	)%
Foreign rate differential - China	(7.7	)%	(4.4	)%	(2.1	)%
Foreign rate differential - All Other	(4.8	)%	(9.2	)%	(9.3	)%
Research and development credit	(7.4	)%	(4.5	)%	—	%
Statutory tax rate change	—	%	(2.6	)%	—	%
Goodwill impairment	42.9	%	13.2	%	—	%
Valuation allowance	4.2	%	1.7	%	—	%
Adjustments to tax accruals and reserves	—	%	—	%	0.5	%
Other	0.9	%	(3.6	)%	0.7	%
Effective tax rate	60.0	%	26.1	%	25.8	%

Components Of Net Deferred Tax Asset (Liability)

The components of this net deferred tax liability are as follows (in millions):

	January 3, 2015			December 28, 2013
Accrued employee benefits	$	60.5		$	43.5
Bad debt allowances	8.8			2.6
Warranty accruals	4.7			4.9
Inventory	9.7			7.7
Accrued liabilities	9.5			13.2
Derivative instruments	19.7			5.9
Tax loss carryforward	16.6			11.4
Valuation allowance	(10.1		)	(5.9		)
Other	2.8			1.4
Deferred tax assets	122.2			84.7
Property related	(37.1		)	(41.6		)
Intangible items	(134.1		)	(136.6		)
Deferred tax liabilities	(171.2		)	(178.2		)
Net deferred tax liability	$	(49.0	)	$	(93.5	)

Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits

Following is a reconciliation of the beginning and ending amount of unrecognized tax benefits (in millions):

Unrecognized tax benefits, January 1, 2012	$	7.1
Gross increases from prior period tax positions	0.7
Gross increases from current period tax positions	—
Settlements with taxing authorities	(1.6		)
Lapse of statute of limitations	(0.5		)
Unrecognized tax benefits, December 29, 2012	$	5.7
Gross increases from prior period tax positions	1.1
Gross increases from current period tax positions	0.3
Settlements with taxing authorities	(2.1		)
Lapse of statute of limitations	(0.6		)
Unrecognized tax benefits, December 28, 2013	$	4.4
Gross increases from prior period tax positions	0.1
Gross increases from current period tax positions	3.6
Settlements with taxing authorities	(2.1		)
Lapse of statute of limitations	(0.2		)
Unrecognized tax benefits, January 3, 2015	$	5.8