Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 30, 2017

Schedule of Income before Income Tax, Domestic and Foreign

U.S. and foreign income from operations before income taxes are as follows (in thousands):



	December 30, 2017		December 31, 2016		January 2, 2016
United States	$	179	$	48,869	$	50,473
Foreign	64,021		73,670		48,307
Income from operations before income taxes	$	64,200	$	122,539	$	98,780

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense attributable to income from continuing operations before income taxes consists of the following (in thousands):



	December 30, 2017			December 31, 2016			January 2, 2016
Current:
Federal	$	274		$	65		$	(21,775	)
State	(80		)	(332		)	411
Foreign	31,256			27,992			29,871
Total current	31,450			27,725			8,507
Deferred:
Federal	(76,056		)	(8,056		)	13,057
State	622			(649		)	(1,521		)
Foreign	(25,170		)	(3,705		)	(6,542		)
Total deferred	(100,604		)	(12,410		)	4,994
	$	(69,154	)	$	15,315		$	13,501

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):



	December 30, 2017			December 31, 2016
Balance at beginning of Year	$	4,667		$	5,604
Change in tax positions related to current year	290			—
Change in tax positions related to prior years	(198		)	99
Change in tax positions due to settlement with tax authorities	(1,949		)	—
Expiration of the Statute of Limitations	(426		)	(1,036		)
Balance at end of year	$	2,384		$	4,667

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense for the years ended December 30, 2017, December 31, 2016 and January 2, 2016, differed from the amount computed by applying the statutory U.S. federal income tax rate to income from continuing operations before income taxes as a result of the following (in thousands):



	December 30, 2017			December 31, 2016			January 2, 2016
Computed "expected" tax expense	$	22,470		$	42,888		$	34,573
Change in valuation allowance	1,609			1,039			4,421
Deferred tax on unremitted foreign earnings	641			2,546			4,848
Sub-Part F income	6,284			6,159			4,923
Foreign rate differential	(8,292		)	(9,982		)	(5,653		)
Biofuel tax incentives	—			(28,435		)	(28,143		)
Change in tax law
One-time U.S. transition tax	26,243			—			—
Deferred tax effects	(115,169		)	2,169			—
Other, net	(2,940		)	(1,069		)	(1,468		)
	$	(69,154	)	$	15,315		$	13,501

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 30, 2017 and December 31, 2016 are presented below (in thousands):



	December 30, 2017			December 31, 2016
Deferred tax assets:
Loss contingency reserves	$	8,546		$	11,998
Employee benefits	8,471			9,586
Pension liability	12,224			18,200
Intangible assets amortization, including taxable goodwill	1,475			2,317
Net operating losses	89,660			119,602
Tax credits	7,057			3,473
Inventory	6,295			8,523
Accrued liabilities and other	13,764			13,340
Total gross deferred tax assets	147,492			187,039
Less valuation allowance	(24,530		)	(20,150		)
Net deferred tax assets	122,962			166,889

Deferred tax liabilities:
Intangible assets amortization, including taxable goodwill	(170,294		)	(189,233		)
Property, plant and equipment depreciation	(166,217		)	(207,729		)
Investment in DGD Joint Venture	(29,516		)	(47,607		)
Tax on unremitted foreign earnings	(8,045		)	(49,196		)
Other	(1,555		)	(4,268		)
Total gross deferred tax liabilities	(375,627		)	(498,033		)
Net deferred tax liability	$	(252,665	)	$	(331,144	)

Amounts reported on Consolidated Balance Sheets:
Non-current deferred tax asset	$	14,043		$	14,990
Non-current deferred tax liability	(266,708		)	(346,134		)
Net deferred tax liability	$	(252,665	)	$	(331,144	)