Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 30, 2023

Notes Tables

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

(in thousands)	2023			2022			2021
Current:
U.S. Federal	$	694		$	1,609		$	1,103
U.S. State		86			456			101
Foreign		21,654			31,307			22,862
Total current		22,434			33,372			24,066
Deferred:
U.S. Federal		61			(9	)		5
Foreign		(4,835	)		(3,495	)		948
Total deferred		(4,774	)		(3,504	)		953
	$	17,660		$	29,868		$	25,019

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

(in thousands)	2023			2022		2021
U.S.	$	(37,799	)	$	9,180	$	30,588
Foreign		83,615			117,535		161,756
Total	$	45,816		$	126,715	$	192,344

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

(in thousands)	2023			2022
Deferred tax assets:
Inventory, receivable and warranty reserves	$	10,931		$	13,599
Net operating loss carryforwards		36,602			39,545
Tax credit carryforwards		34,637			29,646
Capitalized R&D		30,485			19,819
Accrued employee benefits		3,348			4,416
Stock-based compensation		3,227			2,990
Lease liabilities		3,222			3,965
Uniform capitalization		1,564			-
Other		-			472
Gross deferred tax assets		124,016			114,452
Less valuation allowance		(99,888	)		(89,234	)
Total deferred tax assets		24,128			25,218
Deferred tax liabilities:
Intangible assets and other acquisition basis differences		34,076			38,921
Operating lease right-of-use assets		2,854			3,573
Unremitted earnings of foreign subsidiaries		4,106			153
Other		50			-
Total deferred tax liabilities		41,086			42,647
Net deferred tax liabilities	$	(16,958	)	$	(17,429	)

(in thousands)	2023			2022
Other assets (long-term)	$	6,196		$	3,930
Long-term deferred income tax liabilities		(23,154	)		(21,359	)
Net deferred tax liabilities	$	(16,958	)	$	(17,429	)

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

(in thousands)	2023			2022			2021
Tax provision at U.S. 21% statutory rate	$	9,470		$	26,610		$	40,392
State income taxes, net of federal tax benefit		(633	)		(1,535	)		2,246
Accruals, adjustments and releases from statute expirations		579			348			(787	)
Federal R&D credits		(1,360	)		(1,679	)		(943	)
Stock-based compensation		(1,504	)		(572	)		(4,802	)
Excess executive compensation		1,375			946			1,608
Change in valuation allowance		10,654			13,307			(9,882	)
Exemption of PTG gain		-			-			(12,378	)
Dividend, net of foreign tax credits		-			13			693
GILTI, net of foreign tax credits		1,735			3,458			9,343
Foreign rate differential		2,093			(6,131	)		(1,023	)
Other, net		(4,749	)		(4,897	)		552
	$	17,660		$	29,868		$	25,019

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

(in thousands)	2023			2022			2021
Balance at beginning of year	$	33,368		$	33,391		$	33,696
Additions for tax positions of current year		899			910			686
Additions/(Reductions) for tax positions of prior years		1,802			(428	)		(83	)
Reductions due to lapse of the statute of limitations		(295	)		(354	)		(1,012	)
Foreign exchange rate impact		126			(151	)		104
Balance at end of year	$	35,900		$	33,368		$	33,391