Note 9 - Income Taxes (Tables)

12 Months Ended

Dec. 25, 2021

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(in thousands)	2021		2020			2019
Current:
U.S. Federal	$	1,103	$	-		$	-
U.S. State		101		21			130
Foreign		22,862		5,950			2,173
Total current		24,066		5,971			2,303
Deferred:
U.S. Federal		5		8			98
U.S. State		-		-			1
Foreign		948		(5,313	)		(5,484	)
Total deferred		953		(5,305	)		(5,385	)
	$	25,019	$	666		$	(3,082	)

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

(in thousands)	2021		2020			2019
U.S.	$	30,588	$	(25,005	)	$	(72,669	)
Foreign		161,756		11,828			592
Total	$	192,344	$	(13,177	)	$	(72,077	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in thousands)	2021			2020
Deferred tax assets:
Inventory, receivable and warranty reserves	$	12,166		$	11,720
Net operating loss carryforwards		44,806			56,777
Tax credit carryforwards		31,264			37,393
Accrued employee benefits		5,695			5,306
Stock-based compensation		2,222			2,210
Lease liabilities		4,500			5,146
Other		2,674			4,309
Gross deferred tax assets		103,327			122,861
Less valuation allowance		(76,250	)		(86,124	)
Total deferred tax assets		27,077			36,737
Deferred tax liabilities:
Intangible assets and other acquisition basis differences		39,929			52,012
Operating lease right-of-use assets		4,066			4,706
Unremitted earnings of foreign subsidiaries		4,207			3,119
Total deferred tax liabilities		48,202			59,837
Net deferred tax liabilities	$	(21,125	)	$	(23,100	)

(in thousands)	2021			2020
Other assets (long-term)	$	4,762		$	5,716
Long-term deferred income tax liabilities		(25,887	)		(28,816	)
Net deferred tax liabilities	$	(21,125	)	$	(23,100	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

(in thousands)	2021			2020			2019
Tax provision at U.S. 21% statutory rate	$	40,392		$	(2,757	)	$	(15,136	)
State income taxes, net of federal tax benefit		2,246			(1,160	)		(1,097	)
Settlements, adjustments and releases from statute expirations		(787	)		(118	)		(1,204	)
Federal R&D credits		(943	)		(46	)		(1,458	)
Stock-based compensation		(4,802	)		727			587
Excess executive compensation		1,608			491			190
Change in valuation allowance		(9,882	)		(1,691	)		11,270
Exemption of PTG gain		(12,378	)		-			-
Dividend, net of foreign tax credits		693			1,224			1,453
GILTI, net of foreign tax credits		9,343			4,191			2,480
Foreign rate differential		(1,023	)		(1,512	)		(1,266	)
Other, net		552			1,317			1,099
	$	25,019		$	666		$	(3,082	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

(in thousands)	2021			2020			2019
Balance at beginning of year	$	33,696		$	34,740		$	34,873
Additions for tax positions of current year		686			817			1,231
Reductions for tax positions of prior years		(83	)		(425	)		(484	)
Reductions due to lapse of the statute of limitations		(1,012	)		(304	)		(957	)
Reductions due to settlements		-			(1,134	)		(30	)
Foreign exchange rate impact		104			2			107
Balance at end of year	$	33,391		$	33,696		$	34,740