| Income Taxes | Period [Axis] |
|---|
2015-12-26 - 2016-12-30 |
|---|
Income Taxes | |
Schedule of income before provision for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands)
|
|
2016
|
|
2015
|
|
2014
|
|
U.S. (loss) income
|
|
$
|
(43,917)
|
|
$
|
79,058
|
|
$
|
(161,951)
|
|
Foreign income
|
|
|
(72,534)
|
|
|
29,729
|
|
|
(56,792)
|
|
Income before taxes
|
|
$
|
(116,451)
|
|
$
|
108,787
|
|
$
|
(218,743)
|
|
Schedule of provision for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands)
|
|
2016
|
|
2015
|
|
2014
|
|
Current income tax (benefit) expense:
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$
|
19,668
|
|
$
|
5,138
|
|
$
|
17,660
|
|
Foreign
|
|
|
16,975
|
|
|
15,356
|
|
|
14,318
|
|
State and local
|
|
|
(440)
|
|
|
8,076
|
|
|
(1,801)
|
|
Total current income tax expense
|
|
|
36,203
|
|
|
28,570
|
|
|
30,177
|
|
Deferred income tax (benefit) expense:
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
(82,726)
|
|
|
7,864
|
|
|
(52,852)
|
|
Foreign
|
|
|
(76,665)
|
|
|
(7,138)
|
|
|
(10,271)
|
|
State
|
|
|
(8,301)
|
|
|
(912)
|
|
|
(4,260)
|
|
Total deferred income tax benefit
|
|
|
(167,692)
|
|
|
(186)
|
|
|
(67,383)
|
|
Total income tax (benefit) expense
|
|
$
|
(131,489)
|
|
$
|
28,384
|
|
$
|
(37,206)
|
|
Schedule of reconciliations of income tax computed at the U.S. federal statutory tax rate to effective income tax rate |
|
|
|
|
|
|
|
|
|
|
|
|
($ in thousands)
|
|
2016
|
|
2015
|
|
2014
|
|
Pretax (loss) income
|
|
$
|
(116,451)
|
|
$
|
108,787
|
|
$
|
(218,743)
|
|
Federal statutory rate
|
|
|
35%
|
|
|
35%
|
|
|
35%
|
|
Expected tax (benefit) expense
|
|
|
(40,758)
|
|
|
38,075
|
|
|
(76,560)
|
|
Reconciling items:
|
|
|
|
|
|
|
|
|
|
|
State income taxes, net of federal benefit
|
|
|
(5,024)
|
|
|
5,000
|
|
|
(11,498)
|
|
Compensation
|
|
|
(5,431)
|
|
|
—
|
|
|
—
|
|
Non-deductible goodwill impairment
|
|
|
—
|
|
|
—
|
|
|
8,881
|
|
Non-taxable reversal of purchase accounting accrual
|
|
|
—
|
|
|
—
|
|
|
(5,459)
|
|
Tax effect of noncontrolling interests
|
|
|
(1,544)
|
|
|
(3,205)
|
|
|
(1,557)
|
|
Permanent expenses
|
|
|
14,611
|
|
|
27,138
|
|
|
16,221
|
|
Foreign tax rate differential
|
|
|
(13,978)
|
|
|
(10,636)
|
|
|
10,765
|
|
Tax credits
|
|
|
880
|
|
|
(8,281)
|
|
|
(19,278)
|
|
Change in valuation allowance
|
|
|
(89,689)
|
|
|
3,146
|
|
|
35,993
|
|
Change in uncertain tax positions
|
|
|
4,698
|
|
|
(23,434)
|
|
|
16,550
|
|
Other
|
|
|
4,746
|
|
|
581
|
|
|
(11,264)
|
|
(Benefit) provision for income taxes
|
|
$
|
(131,489)
|
|
$
|
28,384
|
|
$
|
(37,206)
|
|
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities |
|
|
|
|
|
|
|
|
|
($ in thousands)
|
|
2016
|
|
2015
|
|
Deferred tax assets:
|
|
|
|
|
|
|
|
Net operating loss carryforwards
|
|
$
|
102,917
|
|
$
|
121,599
|
|
Deferred gain, insurance and other
|
|
|
93,809
|
|
|
62,684
|
|
Credit carryovers
|
|
|
76,916
|
|
|
71,458
|
|
Accrued employee benefits
|
|
|
174,717
|
|
|
239,677
|
|
Total deferred tax assets
|
|
|
448,359
|
|
|
495,418
|
|
Valuation allowance
|
|
|
(46,044)
|
|
|
(210,391)
|
|
Net deferred tax assets
|
|
|
402,315
|
|
|
285,027
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
|
Investments in affiliates
|
|
|
(10,025)
|
|
|
(6,882)
|
|
Depreciation and amortization
|
|
|
(29,039)
|
|
|
(22,760)
|
|
Net deferred tax liabilities
|
|
|
(39,064)
|
|
|
(29,642)
|
|
Net deferred tax assets
|
|
$
|
363,251
|
|
$
|
255,385
|
|
Schedule of reconciliation of the beginning and ending amount of uncertain tax positions |
A reconciliation of the beginning and ending amount of uncertain tax positions as of December 30, 2016 and December 25, 2015 is as follows (in thousands):
|
|
|
|
|
|
Balance at December 31, 2014
|
|
$
|
48,561
|
|
Additions for current year tax positions
|
|
|
30,363
|
|
Additions for prior year tax positions
|
|
|
2,797
|
|
Reductions for prior year tax positions
|
|
|
(1,131)
|
|
Reductions as a result of settlement with tax authority
|
|
|
(19,862)
|
|
Reductions as a result of lapse of applicable statue of expirations
|
|
|
(1,486)
|
|
Balance at December 25, 2015
|
|
$
|
59,242
|
|
Additions for current year tax positions
|
|
|
23,888
|
|
Additions for prior year tax positions
|
|
|
8,248
|
|
Reductions for prior year tax positions
|
|
|
(12,111)
|
|
Reductions as a result of settlement with tax authority
|
|
|
(2,136)
|
|
Reductions as a result of lapse of applicable statue of expirations
|
|
|
(283)
|
|
Balance at December 30, 2016
|
|
$
|
76,848
|
|