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Income Taxes (Tables)
 12 Months Ended
Dec. 29, 2018
Income Tax Disclosure [Abstract]  
Geographic Components of Earnings Before Income Taxes
The geographic components of earnings (loss) before income taxes are as follows:
 
Fiscal Year
(In millions)
2018
 
2017
 
2016
United States
$
159.2

 
$
(78.2
)
 
$
54.7

Foreign
68.2

 
67.6

 
55.8

Earnings (loss) before income taxes
$
227.4

 
$
(10.6
)
 
$
110.5
Provisions for Income Taxes
The provisions for income tax expense (benefit) consist of the following:
 
Fiscal Year
(In millions)
2018
 
2017
 
2016
Current expense:
 
 
 
 
 
Federal
$
6.7

 
$
48.1

 
$
16.0

State
2.4

 
1.9

 
1.4

Foreign
10.9

 
14.0

 
11.3

Deferred expense (credit):
 
 
 
 
 
Federal
2.1

 
(72.0
)
 
(6.9
)
State
3.3

 
(0.2
)
 
(0.3
)
Foreign
1.7

 
(1.7
)
 
1.5

Income tax provision
$
27.1

 
$
(9.9
)
 
$
23.0
Reconciliation of Income Tax Expense, Net of Federal Income Tax Rate
A reconciliation of the Company’s total income tax expense and the amount computed by applying the statutory federal income tax rate to earnings before income taxes is as follows:
 
Fiscal Year
(In millions)
2018
 
2017
 
2016
Income taxes at U.S. statutory rates of 21%, 35% and 35%
$
47.7

 
$
(3.7
)
 
$
38.7

State income taxes, net of federal income tax
2.8

 
(4.2
)
 
(6.1
)
(Nontaxable earnings) non-deductible losses of foreign affiliates:
 
 
 
 
 
Cayman Islands
—

 
(3.5
)
 
(0.4
)
Other
(0.1
)
 
(0.3
)
 
0.2

Foreign earnings taxed at rates different from the U.S. statutory rate:
 
 
 
 
 
Hong Kong
(10.8
)
 
(17.3
)
 
(17.3
)
Other
(3.1
)
 
3.5

 
3.3

Adjustments for uncertain tax positions
(1.4
)
 
0.4

 
0.2

Change in valuation allowance
3.3

 
3.0

 
2.0

Change in state tax rates
1.9

 
0.1

 
(0.1
)
Transition tax due to TCJA
(0.1
)
 
58.1

 
—

Remeasurement of U.S. deferred taxes due to TCJA
—

 
(52.5
)
 
—

Global Intangible Low Tax Income tax
3.7

 
—

 
—

Foreign Derived Intangible Income tax benefit
(6.8
)
 
—

 
—

Deferred tax on future cash dividends
(0.9
)
 
3.0

 
—

Permanent adjustments and non-deductible expenses
(9.6
)
 
(0.6
)
 
1.9

Other
0.5

 
4.1

 
0.6

Income tax provision
$
27.1

 
$
(9.9
)
 
$
23.0
Significant Components of Deferred Income Tax Assets and Liabilities
Significant components of the Company’s deferred income tax assets and liabilities are as follows:
(In millions)
December 29,
2018
 
December 30,
2017
Deferred income tax assets:
 
 
 
Accounts receivable and inventory valuation allowances
$
4.9

 
$
5.9

Deferred compensation accruals
6.9

 
8.9

Accrued pension expense
21.6

 
33.9

Stock-based compensation
16.9

 
16.7

Net operating loss and foreign tax credit carryforwards
19.2

 
15.1

Book over tax depreciation and amortization
0.8

 
—

Tenant lease expenses
4.1

 
3.2

Environmental reserve
5.0

 
7.9

Other
5.8

 
10.4

Total gross deferred income tax assets
85.2

 
102.0

Less valuation allowance
(17.8
)
 
(14.5
)
Net deferred income tax assets
67.4

 
87.5

Deferred income tax liabilities:
 
 
 
Intangible assets
(157.3
)
 
(155.3
)
Tax over book depreciation and amortization
(8.3
)
 
(6.3
)
Other
(6.6
)
 
(5.8
)
Total deferred income tax liabilities
(172.2
)
 
(167.4
)
Net deferred income tax liabilities
$
(104.8
)
 
$
(79.9
)
Unrecognized Tax Benefits
The following table summarizes the activity related to the Company’s unrecognized tax benefits:
 
Fiscal Year
(In millions)
2018
 
2017
Beginning balance
$
9.3

 
$
8.9

Increases related to current year tax positions
0.8

 
1.8

Decreases related to prior year positions
(2.0
)
 
(1.1
)
Decrease due to lapse of statute
(0.2
)
 
(0.3
)
Ending balance
$
7.9

 
$
9.3