Income Taxes (Tables)

12 Months Ended

Dec. 29, 2019

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations between the effective tax rate on income from continuing operations before income taxes and the federal statutory rate are presented below.



	December 29, 2019					December 30, 2018					December 31, 2017
(In thousands)	Amount			% of Pre-tax		Amount			% of Pre-tax		Amount			% of Pre-tax
Tax at federal statutory rate	$	34,537		21.0		$	36,979		21.0		$	38,928		35.0
State and local taxes, net	5,303			3.2		12,335			7.0		4,800			4.3
Effect of enacted changes in tax laws	—			—		(1,872		)	(1.0	)	68,747			61.8
(Decrease)/increase in uncertain tax positions	(2,427		)	(1.5	)	2,288			1.3		(2,277		)	(2.0	)
(Gain)/loss on company-owned life insurance	(1,662		)	(1.0	)	449			0.2		(1,916		)	(1.7	)
Nondeductible expense	1,938			1.2		1,808			1.0		912			0.8
Nondeductible executive compensation	(355		)	(0.2	)	2,135			1.2		1,360			1.2
Stock-based awards benefit	(6,184		)	(3.8	)	(1,795		)	(1.0	)	(517		)	(0.4	)
Deduction for foreign-derived intangible income	(2,625		)	(1.6	)	—			—		—			—
Research and experimentation credit	(5,672		)	(3.4	)	—			—		—			—
Other, net	1,641			1.0		(3,696		)	(2.1	)	(6,081		)	(5.5	)
Income tax expense	$	24,494		14.9		$	48,631		27.6		$	103,956		93.5

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense as shown in our Consolidated Statements of Operations were as follows:



(In thousands)	December 29, 2019			December 30, 2018		December 31, 2017
Current tax expense/(benefit)
Federal	$	16,283		$	31,719	$	(252	)
Foreign	823			705		458
State and local	3,146			10,172		350
Total current tax expense	20,252			42,596		556
Deferred tax expense/(benefit)
Federal	5,588			913		105,905
State and local	(1,346		)	5,122		(2,505		)
Total deferred tax expense	4,242			6,035		103,400
Income tax expense	$	24,494		$	48,631	$	103,956

Schedule of Deferred Tax Assets and Liabilities

The components of the net deferred tax assets and liabilities recognized in our Consolidated Balance Sheets were as follows:



(In thousands)	December 29, 2019		December 30, 2018
Deferred tax assets
Retirement, postemployment and deferred compensation plans	$	113,306	$	128,926
Accruals for other employee benefits, compensation, insurance and other	25,543		22,722
Net operating losses	1,289		1,598
Operating lease liabilities	16,746		—
Other	27,042		23,400
Gross deferred tax assets	$	183,926	$	176,646
Deferred tax liabilities
Property, plant and equipment	$	39,494	$	38,268
Intangible assets	7,596		7,225
Operating lease right-of-use assets	14,309		—
Other	7,298		2,722
Gross deferred tax liabilities	$	68,697	$	48,215
Net deferred tax asset	$	115,229	$	128,431

Summary of Income Tax Contingencies

A reconciliation of unrecognized tax benefits is as follows:



(In thousands)	December 29, 2019			December 30, 2018			December 31, 2017
Balance at beginning of year	$	11,629		$	17,086		$	10,028
Gross additions to tax positions taken during the current year	1,184			680			9,009
Gross additions to tax positions taken during the prior year	711			3,019			103
Gross reductions to tax positions taken during the prior year	(76		)	(8,607		)	(372		)
Reductions from settlements with taxing authorities	(2,637		)	—			—
Reductions from lapse of applicable statutes of limitations	(502		)	(549		)	(1,682		)
Balance at end of year	$	10,309		$	11,629		$	17,086