Income Taxes (Tables)

12 Months Ended

Dec. 29, 2012

Income Taxes [Abstract]

Components of income before income taxes

The components of income before income taxes were taxed under the following jurisdictions:

(In thousands)	2012		2011		2010
Domestic	$	105,945	$	118,208	$	88,262
Foreign		14,409		11,953		33,588
Income before income taxes	$	120,354	$	130,161	$	121,850

Components of income tax expense

Income tax expense consists of the following:

(In thousands)	2012			2011			2010
Current tax expense:
Federal	$	33,152		$	43,127		$	32,132
Foreign		1,764			1,740			6,292
State and local		3,049			2,398			2,518
Current tax expense		37,965			47,265			40,942
Deferred tax (benefit) expense:
Federal		570			(6,480	)		(4,057	)
Foreign		(2,015	)		344			(2,036	)
State and local		161			1,946			(534	)
Deferred tax benefit		(1,284	)		(4,190	)		(6,627	)
Income tax expense	$	36,681		$	43,075		$	34,315

Income tax reconciliation

The difference between the reported income tax expense and a tax determined by applying the applicable U.S. federal statutory income tax rate to income before income taxes is reconciled as follows:

(In thousands)	2012			2011			2010
Expected income tax expense	$	42,124		$	45,556		$	42,647
State and local income tax, net of federal benefit		3,178			4,267			2,867
Effect of foreign statutory rate different from U.S. and other foreign adjustments		(2,637	)		(560	)		(2,143	)
Valuation allowance changes		(1,224	)		(443	)		(5,496	)
U.S. production activities deduction		(2,975	)		(3,850	)		(2,975	)
Tax contingency changes		(3,224	)		(1,934	)		(1,516	)
Other, net		1,439			39			931
Income tax expense	$	36,681		$	43,075		$	34,315

Unrecognized tax benefits reconciliation

The following summarizes the activity related to the Company's unrecognized tax benefits:

(In thousands)	2012			2011
Beginning balance	$	6,572		$	8,565
Increases related to prior year tax positions		—			—
Increases related to current year tax positions		—			—
Decreases related to prior year tax positions		—			(802	)
Decreases related to settlements with taxing authorities		—			—
Decreases due to lapses in the statute of limitations		(3,313	)		(1,191	)
Ending balance	$	3,259		$	6,572

Components of deferred tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

(In thousands)	2012			2011
Deferred tax assets:
Accounts receivable	$	447		$	424
Inventories		7,829			11,075
Other postretirement benefits and accrued items		14,767			13,880
Pension		10,489			10,673
Other reserves		14,905			14,671
Federal and foreign tax attributes		9,829			7,421
State tax attributes, net of federal benefit		29,880			30,478
Insurance Claim Receivable		8,048			244
Share-based Compensation		1,493			2,052
Total deferred tax assets		97,687			90,918
Less valuation allowance		(30,394	)		(29,705	)
Deferred tax assets, net of valuation allowance		67,293			61,213
Deferred tax liabilities:
Property, plant, and equipment		49,531			44,757
Other		983			893
Total deferred tax liabilities		50,514			45,650
Net deferred tax asset	$	16,779		$	15,563