Income Taxes (Tables)
|
12 Months Ended |
Dec. 27, 2014
|
Income Tax Disclosure [Abstract] |
|
Significant Components of Provision (Benefit) for Income Taxes for Continuing Operations |
Significant
components of the provision (benefit) for income taxes for
continuing operations are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
Current:
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Federal
|
|
$ |
(307 |
) |
|
$ |
(1,538 |
) |
|
$ |
(1,898 |
) |
U.S. State
|
|
|
40 |
|
|
|
42 |
|
|
|
(388 |
) |
Foreign
|
|
|
4,047 |
|
|
|
825 |
|
|
|
831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current
|
|
|
3,780 |
|
|
|
(671 |
) |
|
|
(1,455 |
) |
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Federal
|
|
|
(1,207 |
) |
|
|
286 |
|
|
|
1,890 |
|
U.S. State
|
|
|
(17 |
) |
|
|
26 |
|
|
|
186 |
|
Foreign
|
|
|
737 |
|
|
|
(2,444 |
) |
|
|
(1,495 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total deferred
|
|
|
(487 |
) |
|
|
(2,132 |
) |
|
|
581 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,293 |
|
|
$ |
(2,803 |
) |
|
$ |
(874 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) Before Income Taxes from Continuing Operations |
Income (loss)
before income taxes from continuing operations consisted of the
following:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
U.S.
|
|
$ |
(3,898 |
) |
|
$ |
(29,219 |
) |
|
$ |
(10,066 |
) |
Foreign
|
|
|
13,026 |
|
|
|
(7,844 |
) |
|
|
(2,930 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
9,128 |
|
|
$ |
(37,063 |
) |
|
$ |
(12,996 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Significant Components of Deferred Tax Assets and Liabilities |
Deferred income
taxes reflect the net tax effects of temporary differences between
the carrying amounts of assets and liabilities for financial
reporting and tax purposes. Significant components of our deferred
tax assets and liabilities were as follows:
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
2014 |
|
|
2013 |
|
Deferred tax
assets:
|
|
|
|
|
|
|
|
|
Inventory, receivable and
warranty reserves
|
|
$ |
9,585 |
|
|
$ |
13,290 |
|
Net operating loss
carryforwards
|
|
|
8,266 |
|
|
|
9,070 |
|
Tax credit
carryforwards
|
|
|
11,905 |
|
|
|
11,258 |
|
Accrued employee
benefits
|
|
|
5,232 |
|
|
|
3,709 |
|
Deferred profit
|
|
|
1,091 |
|
|
|
839 |
|
Stock-based
compensation
|
|
|
4,352 |
|
|
|
3,972 |
|
Acquisition basis
differences
|
|
|
2,133 |
|
|
|
2,105 |
|
Depreciation and fixed
asset related
|
|
|
1,001 |
|
|
|
831 |
|
Other
|
|
|
608 |
|
|
|
121 |
|
|
|
|
|
|
|
|
|
|
Gross deferred tax
assets
|
|
|
44,173 |
|
|
|
45,195 |
|
Less valuation
allowance
|
|
|
(37,023 |
) |
|
|
(36,064 |
) |
|
|
|
|
|
|
|
|
|
Total deferred tax
assets
|
|
|
7,150 |
|
|
|
9,131 |
|
Deferred tax
liabilities:
|
|
|
|
|
|
|
|
|
Depreciation and fixed
asset related
|
|
|
2,823 |
|
|
|
2,909 |
|
Acquisition basis
differences
|
|
|
10,600 |
|
|
|
13,193 |
|
Other
|
|
|
643 |
|
|
|
461 |
|
|
|
|
|
|
|
|
|
|
Total deferred tax
liabilities
|
|
|
14,066 |
|
|
|
16,563 |
|
|
|
|
|
|
|
|
|
|
Net deferred tax
liabilities
|
|
$ |
(6,916 |
) |
|
$ |
(7,432 |
) |
|
|
|
|
|
|
|
|
|
Reconciliation of Income Tax Computed at U.S. Federal Statutory Tax Rate to Provision (Benefit) for Income Taxes for Continuing Operations |
The
reconciliation of income tax computed at the U.S. federal statutory
tax rate to the provision (benefit) for income taxes for continuing
operations is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
Tax provision (credit) at
U.S. 35% statutory rate
|
|
$ |
3,194 |
|
|
$ |
(12,972 |
) |
|
$ |
(4,548 |
) |
State income taxes, net of
federal tax benefit
|
|
|
119 |
|
|
|
(1,112 |
) |
|
|
(645 |
) |
Settlements, adjustments
and releases from statute expirations
|
|
|
(103 |
) |
|
|
(846 |
) |
|
|
366 |
|
Change in effective tax
rate for deferred balances
|
|
|
— |
|
|
|
— |
|
|
|
346 |
|
Federal tax
credits
|
|
|
(244 |
) |
|
|
(1,340 |
) |
|
|
— |
|
Stock-based compensation on
which no tax benefit provided
|
|
|
160 |
|
|
|
168 |
|
|
|
177 |
|
Change in valuation
allowance
|
|
|
1,072 |
|
|
|
11,283 |
|
|
|
2,572 |
|
Foreign income taxed at
different rates
|
|
|
(2,055 |
) |
|
|
1,526 |
|
|
|
(227 |
) |
Non-deductible goodwill
impairment charge and transaction costs
|
|
|
1,069 |
|
|
|
— |
|
|
|
700 |
|
Other, net
|
|
|
81 |
|
|
|
490 |
|
|
|
385 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,293 |
|
|
$ |
(2,803 |
) |
|
$ |
(874 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Gross Unrecognized Tax Benefits |
A
reconciliation of our gross unrecognized tax benefits, excluding
accrued interest and penalties, is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in
thousands)
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
Balance at beginning of
year
|
|
$ |
10,483 |
|
|
$ |
6,080 |
|
|
$ |
5,381 |
|
Gross additions for tax
positions of current year
|
|
|
761 |
|
|
|
933 |
|
|
|
776 |
|
Gross additions for tax
positions of prior years
|
|
|
365 |
|
|
|
3,700 |
|
|
|
195 |
|
Reductions due to lapse of
the statute of limitations
|
|
|
(587 |
) |
|
|
— |
|
|
|
(272 |
) |
Foreign exchange rate
impact
|
|
|
(181 |
) |
|
|
(230 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at end of
year
|
|
$ |
10,841 |
|
|
$ |
10,483 |
|
|
$ |
6,080 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|