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$ 3,347,444

$ 3,121,560

$ 3,045,797

Cost of goods sold

1,367,725

1,323,619

1,357,272

Selling, general and administrative expenses

1,979,719

1,797,941

1,688,525

Advertising expense

155,394

164,693

177,143

478,177

437,977

410,558

Research and development expense

567,805

511,634

467,960

Total operating expense

1,201,376

1,114,304

1,055,661

Total other income (expense)

778,343

683,637

632,864

Other income (expense):

Interest income

47,147

36,925

33,406

Foreign currency losses

(7,616)

(22,579)

(31,651)

Other income (expense)

5,373

(912)

4,006

44,904

13,434

5,761

Income before income taxes

823,247

697,071

638,625

Income tax provision (benefit): (Note 6)

Current

93,424

79,234

117,842

Deferred

35,743

(91,170)

3,059

Income tax provision (benefit)

129,167

(11,936)

120,901

Basic net income per share (Note 10) (in dollars per share)

$ 694,080

$ 709,007

$ 517,724

$ 3.68

$ 3.77

$ 2.74

Diluted net income per share (Note 10) (in dollars per share)

$ 3.66

$ 3.76

$ 2.73

[1]	The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 694,080	$ 709,007	$ 517,724
Foreign currency translation adjustment	(31,965)	88,965	4,434
Change in fair value of available-for-sale marketable securities, net of deferred taxes	(15,581)	4,486	(11,029)
Comprehensive income	$ 646,534	$ 802,458	$ 511,129

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at beginning at Dec. 26, 2015	$ 1,797,435	$ 62,239	$ (414,637)	$ 1,959,125	$ (30,428)	$ 3,373,734
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				517,724		517,724
Translation adjustment					4,434	4,434
Adjustment related to unrealized gains (losses) on available-for-sale securities net of income tax effects					(11,029)	(11,029)
Comprehensive income						511,129
Dividends declared				(384,629)		(384,629)
Tax benefit from issuance of equity awards		(6,309)				(6,309)
Issuance of treasury stock related to equity awards		(40,589)	59,237			18,648
Stock compensation		41,250				41,250
Purchase of treasury stock related to equity awards			(7,331)			(7,331)
Purchase of treasury stock under share repurchase plan			(93,233)			(93,233)
Reduction in par value of Common Stock	(1,779,456)	1,779,456
Balance at end at Dec. 31, 2016	17,979	1,836,047	(455,964)	2,092,220	(37,023)	3,453,259
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				709,007		709,007
Translation adjustment					88,965	88,965
Adjustment related to unrealized gains (losses) on available-for-sale securities net of income tax effects					4,486	4,486
Comprehensive income						802,458
Dividends declared				(382,783)		(382,783)
Issuance of treasury stock related to equity awards		(52,581)	74,442			21,861
Stock compensation		44,735				44,735
Purchase of treasury stock related to equity awards		185	(12,773)			(12,588)
Purchase of treasury stock under share repurchase plan			(74,523)			(74,523)
Balance at end at Dec. 30, 2017	17,979	1,828,386	(468,818)	2,418,444	56,428	3,852,419
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				694,080		694,080
Translation adjustment					(31,965)	(31,965)
Adjustment related to unrealized gains (losses) on available-for-sale securities net of income tax effects					(15,581)	(15,581)
Comprehensive income						646,534
Dividends declared				(400,657)		(400,657)
Issuance of treasury stock related to equity awards		(61,139)	87,781			26,642
Stock compensation		56,391				56,391
Purchase of treasury stock related to equity awards			(16,655)			(16,655)
Reclassification under ASU (Accounting Standards Update 2016-16 [Member]) at Dec. 29, 2018				(1,700)		(1,700)
Reclassification under ASU (Accounting Standards Update 2018-02 [Member]) at Dec. 29, 2018				452	(452)
Balance at end at Dec. 29, 2018	$ 17,979	$ 1,823,638	$ (397,692)	$ 2,710,619	$ 8,430	$ 4,162,974

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Adjustment related to unrealized gains (losses) on available-for-sale securities income tax effects	$ 2,174	$ 493	$ 1,094

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Operating Activities:
Net income	$ 694,080	$ 709,007	$ 517,724
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	64,798	59,895	55,796
Amortization	31,396	26,357	30,544
Gain on sale of property and equipment	(479)	(230)	(503)
Provision for doubtful accounts	2,123	1,021	4,136
Provision for obsolete and slow-moving inventories	24,579	31,071	26,458
Unrealized foreign currency losses	13,790	21,681	13,125
Deferred income taxes	38,978	(90,000)	3,745
Stock compensation expense	56,391	44,735	41,250
Realized losses (gains) on marketable securities	827	991	(822)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	5,167	(40,088)	9,000
Inventories	(82,316)	(38,575)	(2,455)
Other current and non-current assets	7,358	(21,608)	2,234
Accounts payable	40,628	(17,240)	(11,496)
Other current and non-current liabilities	(1,323)	5,627	44,766
Deferred revenue	(17,208)	(20,754)	(32,733)
Deferred costs	5,611	2,395	1,896
Income taxes payable	35,120	(13,443)	3,017
Net cash provided by operating activities	919,520	660,842	705,682
Investing activities:
Purchases of property and equipment	(155,755)	(139,696)	(90,960)
Proceeds from sale of property and equipment	1,600	361	676
Purchase of intangible assets	(4,600)	(12,232)	(5,715)
Purchase of marketable securities	(403,181)	(587,656)	(905,089)
Redemption of marketable securities	283,603	635,311	957,350
Acquisitions, net of cash acquired	(29,170)	(90,471)	(77,945)
Net cash used in investing activities	(307,503)	(194,383)	(121,683)
Financing activities:
Dividends	(296,148)	(382,976)	(481,452)
Tax benefit from issuance of equity awards			1,692
Proceeds from issuance of treasury stock related to equity awards	26,642	21,860	18,648
Purchase of treasury stock related to equity awards	(16,655)	(12,773)	(7,331)
Purchase of treasury stock under share repurchase plan		(74,523)	(93,233)
Net cash used in financing activities	(286,161)	(448,412)	(561,676)
Effect of exchange rate changes on cash and cash equivalents	(15,810)	26,716	(8,656)
Net increase in cash, cash equivalents, and restricted cash	310,046	44,763	13,667
Cash, cash equivalents, and restricted cash at beginning of year	891,759	846,996	833,329
Cash, cash equivalents, and restricted cash at end of year	1,201,805	891,759	846,996
Supplemental disclosures of cash flow information
Cash paid during the year for income taxes	67,592	106,146	115,548
Cash received during the year from income tax refunds	6,122	3,806	4,275
Supplemental disclosure of non-cash investing and financing activities
(Decrease) increase in accrued capital expenditures related to purchases of property and equipment	(14,647)	13,864	2,154
Change in marketable securities related to unrealized (depreciation) appreciation	(17,755)	4,979	(12,123)
Fair value of assets acquired	31,920	128,190	91,620
Liabilities assumed	(2,273)	(29,587)	(6,344)
Less: cash acquired	(477)	(8,132)	(7,331)
Cash paid for acquisitions, net of cash acquired	$ 29,170	$ 90,471	$ 77,945

Description of the Business

12 Months Ended

Dec. 29, 2018

Description of the Business

1. Description of the Business

Garmin Ltd. and subsidiaries (together, the “Company”) design, develop, manufacture, market, and distribute a diverse family of hand-held, wrist-based, portable, and fixed-mount Global Positioning System (GPS)-enabled products and other navigation, communications, information and sensor-based products. Garmin Corporation (GC) is primarily responsible for the manufacturing and distribution of the Company’s products to the Company’s subsidiaries and, to a lesser extent, new product development and sales and marketing of the Company’s products in Asia and the Far East. Garmin International, Inc. (GII) is primarily responsible for sales and marketing of the Company’s products in the Americas region and for most of the Company’s research and new product development. GII also manufactures most of the Company’s products in the aviation segment. Garmin (Europe) Ltd. (GEL) is responsible for sales and marketing of the Company’s products in Europe, the Middle East and Africa (EMEA). Many of GEL’s sales are to other Company-owned distributors in the EMEA region.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 29, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The accompanying consolidated financial statements reflect the accounts of Garmin Ltd. and its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated.

As previously announced and discussed below within the “Recently Adopted Accounting Standards” section of this footnote, effective beginning in the 2018 fiscal year, we adopted the requirements of Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), using the full retrospective method. All amounts and disclosures set forth in this Form 10-K reflect these changes. Further, as a result of the adoption of certain other accounting standards described below, effective beginning in the 2018 fiscal year, certain amounts in prior periods have been reclassified to conform to the current period presentation.

Fiscal Year

The Company’s fiscal year is based on a 52-53-week period ending on the last Saturday of the calendar year. Due to the fact that there are not exactly 52 weeks in a calendar year, and there is slightly more than one additional day per year (not including the effects of leap year) in each calendar year as compared to a 52-week fiscal year, the Company will have a fiscal year comprising 53 weeks in certain fiscal years, as determined by when the last Saturday of the calendar year occurs.

In those resulting fiscal years that have 53 weeks, the Company will record an extra week of sales, costs, and related financial activity. Therefore, the financial results of those 53-week fiscal years, and the associated 14-week fourth quarters, will not be entirely comparable to the prior and subsequent 52-week fiscal years and the associated 13-week quarters. Fiscal years 2018 and 2017 included 52 weeks while fiscal 2016 included 53 weeks.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Foreign Currency

Many Garmin Ltd. subsidiaries utilize currencies other than the United States Dollar (USD) as their functional currency. As required by the Foreign Currency Matters topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC), the financial statements of these subsidiaries for all periods presented have been translated into USD, the functional currency of Garmin Ltd., and the reporting currency herein, for purposes of consolidation at rates prevailing during the year for sales, costs, and expenses and at end-of-year rates for all assets and liabilities. The effect of this translation is recorded in a separate component of stockholders’ equity. Cumulative currency translation adjustments of $47,327 and $79,292 as of December 29, 2018 and December 30, 2017, respectively, have been included in accumulated other comprehensive income in the accompanying consolidated balance sheets.

Transactions in foreign currencies are recorded at the approximate rate of exchange at the transaction date. Assets and liabilities resulting from these transactions are translated at the rate of exchange in effect at the balance sheet date. The majority of the Company’s consolidated foreign currency gain or loss is typically driven by the significant cash and marketable securities, receivables, and payables held in a currency other than the functional currency at a given legal entity. Net foreign currency losses recorded in results of operations were $7,616, $22,579, and $31,651 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively. The loss in fiscal 2018 was due primarily to the USD strengthening against the Euro and British Pound Sterling, offset by the USD strengthening against the Taiwan Dollar. The loss in fiscal 2017 was due primarily to the USD weakening against the Taiwan Dollar, which was partially offset by the USD weakening against the Euro and British Pound Sterling. The loss in fiscal 2016 was due primarily to the USD weakening against the Taiwan Dollar and the USD strengthening against the Euro and British Pound Sterling.

Earnings Per Share

Basic earnings per share amounts are computed based on the weighted-average number of common shares outstanding. For purposes of diluted earnings per share, the number of shares that would be issued from the exercise of dilutive share-based compensation awards has been reduced by the number of shares which could have been purchased from the proceeds of the exercise or release at the average market price of the Company’s stock during the period the awards were outstanding. See Note 10.

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand, operating accounts, money market funds, deposits readily convertible to known amounts of cash, and securities with maturities of three months or less when purchased. The carrying amount of cash and cash equivalents approximates fair value, given the short maturity of those instruments. Restricted cash is reported separately from cash and cash equivalents on the consolidated balance sheets. See Note 4 for additional information on restricted cash.

The total of cash and cash equivalents and restricted cash balances presented on the consolidated balance sheet reconciles to the total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows.

Trade Accounts Receivable

The Company sells its products to retailers, wholesalers, and other customers and extends credit based on its evaluation of the customer’s financial condition. Potential losses on receivables are dependent on each individual customer’s financial condition. The Company carries its trade accounts receivable at net realizable value. Typically, its accounts receivable are collected within 80 days and do not bear interest. The Company monitors its exposure to losses on receivables and maintains allowances for potential losses or adjustments. The Company determines these allowances by (1) evaluating the aging of its receivables and (2) reviewing its high-risk customers. Past due receivable balances are written off when internal collection efforts have been unsuccessful in collecting the amount due. The Company maintains trade credit insurance to provide security against large losses.

Concentration of Credit Risk

The Company grants credit to certain customers who meet the Company’s pre-established credit requirements. Generally, the Company does not require security when trade credit is granted to customers. Credit losses are provided for in the Company’s consolidated financial statements and typically have been within management’s expectations. Certain customers are allowed extended terms consistent with normal industry practice. Most of these extended terms can be classified as either relating to seasonal sales variations or to the timing of new product releases by the Company.

The Company’s top ten customers have contributed between 21% and 24% of net sales annually since 2016. None of the Company’s customers accounted for more than or equal to 10% of consolidated net sales in the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Inventories

Inventories are stated at the lower of cost or market with cost being determined on a first-in, first-out (FIFO) basis. The Company writes down its inventory for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required. Inventories consisted of the following:

	December 29, 2018		December 30, 2017
Raw materials	$	205,696	$	179,659
Work-in-process		96,564		75,754
Finished goods		259,580		262,231
Inventories	$	561,840	$	517,644

Property and Equipment

Property and equipment are recorded at cost and typically depreciated using the straight-line method over the following estimated useful lives:

Buildings and improvements	39-50
Office furniture and equipment	3-5
Manufacturing and engineering equipment	5-10
Vehicles	5

As required by the Property, Plant and Equipment topic of the FASB ASC, the Company reviews property and equipment assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset or asset group may not be fully recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. That assessment is based on the carrying amount of the asset at the date it is tested for recoverability. An impairment loss is measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value.

Intangible Assets

At December 29, 2018, and December 30, 2017, the Company had patents, customer related intangibles and other identifiable finite-lived intangible assets recorded at a cost of $330,532 and $316,705, respectively. Identifiable, finite-lived intangible assets are amortized over their estimated useful lives on a straight-line basis typically over three to ten years. Accumulated amortization was $214,469 and $193,886 at December 29, 2018 and December 30, 2017, respectively. Amortization expense on these intangible assets was $21,796, $20,863, and $14,319 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively. In the next five years, the amortization expense is estimated to be $17,107, $15,125, $11,674, $9,390, and $8,452, respectively.

The Company’s excess purchase cost over fair value of net assets acquired (goodwill) was $301,017 at December 29, 2018, and $286,982 at December 30, 2017.

	December 29, 2018			December 30, 2017
Goodwill balance at beginning of year	$	286,982		$	224,553
Acquisitions		16,768			58,332
Finalization of purchase price allocations and effect of foreign currency translation		(2,733	)		4,097
Goodwill balance at end of year	$	301,017		$	286,982

The Intangibles – Goodwill and Other topic of the FASB ASC (ASC Topic 350) requires that goodwill and intangible assets with indefinite useful lives should not be amortized but rather be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired. The Company performs its annual goodwill and intangible asset impairment tests in the fourth quarter of each year. ASC Topic 350 allows management to first perform a qualitative assessment (“step zero”) by assessing the qualitative factors of relevant events and circumstances at the reporting unit level to determine if it is necessary to perform the quantitative goodwill impairment test (“step one”). If factors indicate that it is more likely than not that the fair value of the reporting unit is less than the carrying amount, then the step one assessment will be performed. If the fair value of the reporting unit is less than the carrying amount in step one, then goodwill impairment will be recognized, and the charge is determined through the “step two” analysis.

Each of the Company’s operating segments (auto PND, auto OEM, aviation, marine, outdoor, and fitness) represents a distinct reporting unit. The auto PND market has declined in recent years as competing technologies have emerged and market saturation has occurred. This has resulted in periods of lower revenues and profits for the Company’s auto PND reporting unit. Considering these qualitative factors, management performed a step one quantitative goodwill impairment assessment of the auto PND reporting unit in the fourth quarter of 2018. Management determined that the fair value of the reporting unit was substantially in excess of its carrying amount, and a step two analysis was therefore not performed. However, considering the uncertainty of future operating results and/or market conditions deteriorating faster or more drastically than the forecasts utilized in management’s estimation of fair value, management believes some or all of the approximately $80 million of goodwill associated with the Company’s auto PND reporting unit is at risk of future impairment. Management concluded that no other reporting units are currently at risk of impairment.

The Company did not recognize any material goodwill or intangible asset impairment charges in 2018, 2017, or 2016.

Dividends

Under Swiss corporate law, dividends must be approved by shareholders at the general meeting of the Company’s shareholders.

On June 8, 2018, the shareholders approved a dividend of $2.12 per share (of which, $1.06 was paid in the Company’s 2018 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 29, 2018	June 18, 2018	$	0.53
September 28, 2018	September 14, 2018	$	0.53
December 31, 2018	December 14, 2018	$	0.53
March 29, 2019	March 15, 2019	$	0.53

The Company paid dividends in 2018 in the amount of $296,148, which included three dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

On June 9, 2017, the shareholders approved a dividend of $2.04 per share (of which, $1.53 was paid in the Company’s 2017 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 30, 2017	June 19, 2017	$	0.51
September 29, 2017	September 15, 2017	$	0.51
December 29, 2017	December 15, 2017	$	0.51
March 30, 2018	March 15, 2018	$	0.51

The Company paid dividends in 2017 in the amount of $382,976, which included four dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

On June 10, 2016, the shareholders approved a dividend of $2.04 per share (of which, $1.53 was paid in the Company’s 2016 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 30, 2016	June 16, 2016	$	0.51
September 30, 2016	September 15, 2016	$	0.51
December 30, 2016	December 14, 2016	$	0.51
March 31, 2017	March 15, 2017	$	0.51

The Company paid dividends in 2016 in the amount of $481,452, which included five dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

Approximately $61,129 and $304,674 of retained earnings was indefinitely restricted from distribution to stockholders pursuant to the laws of Taiwan at December 29, 2018 and December 30, 2017, respectively.

Marketable Securities

Management determines the appropriate classification of marketable securities at the time of purchase and reevaluates such designation as of each balance sheet date.

All of the Company’s marketable securities were considered available-for-sale at December 29, 2018. Available-for-sale securities are stated at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income. At December 29, 2018 and December 30, 2017, cumulative unrealized net losses of $38,897 and $22,864, respectively, were reported in accumulated other comprehensive income, net of related taxes.

Investments are reviewed periodically to determine if they have suffered an impairment of value that is considered other than temporary. If investments are determined to be impaired, a loss is recognized at the date of determination.

Testing for impairment of investments requires significant management judgment. The identification of potentially impaired investments, the determination of their fair value, and the assessment of whether any decline in value is other than temporary are the key judgment elements. The discovery of new information and the passage of time can significantly change these judgments. Revisions of impairment judgments are made when new information becomes known, and any resulting impairment adjustments are made at that time. The economic environment and volatility of securities markets increase the difficulty of determining fair value and assessing investment impairment.

The amortized cost of debt securities classified as available-for-sale is adjusted for amortization of premiums and accretion of discounts to maturity, or in the case of mortgage-backed securities, over the estimated life of the security. Such amortization is included in interest income from investments. Realized gains and losses, and credit declines in value judged to be other-than-temporary are included in other income. The cost of securities sold is based on the specific identification method.

Investments are discussed in detail in Note 3 of the Notes to Consolidated Financial Statements.

Income Taxes

The Company accounts for income taxes using the liability method in accordance with the FASB ASC 740 topic Income Taxes. The liability method provides that deferred tax assets and liabilities are recorded based on the difference between the tax bases of assets and liabilities and their carrying amount for financial reporting purposes as measured based on the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

The Company accounts for uncertainty in income taxes in accordance with the FASB ASC 740 topic Income Taxes. The Company recognizes liabilities based on our estimate of whether, and the extent to which, additional taxes will be due. If payment of these amounts ultimately proves not to be required, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no longer necessary. If the Company’s estimate of tax liabilities proves to be less than the ultimate assessment, a further charge to expense would result.

Income taxes are discussed in detail in Note 6 of the Notes to Consolidated Financial Statements.

Revenue Recognition

The Company recognizes revenue upon the transfer of control of promised products or services to the customer in an amount that depicts the consideration the Company expects to be entitled to for the related products or services. For the large majority of the Company’s sales, transfer of control occurs once product has shipped and title and risk of loss have transferred to the customer. The Company offers certain tangible products with ongoing services promised over a period of time, typically the useful life of the related tangible product. When we have identified such services as both capable of being distinct and separately identifiable from the related tangible product, the associated revenue allocated to such services is recognized over time. The Company generally does not offer specified or unspecified upgrade rights to its customers in connection with software sales.

For products that include tangible hardware that contains software essential to the tangible product’s functionality and ongoing services identified as separately identifiable performance obligations, the Company allocates revenue to all performance obligations based on their relative standalone selling prices (“SSP”), with the amounts allocated to ongoing services deferred and recognized over a period of time. These ongoing services primarily consist of the Company’s contractual promises to provide personal navigation device (PND) users with lifetime map updates (LMU) and server-based traffic services. In addition, we provide map update services (map care) over a contractual period in certain hardware and software contracts with original equipment manufacturers (OEMs). The Company has determined that directly observable prices do not exist for LMU, map care, or server-based traffic, as stand-alone and unbundled unit sales do not occur on more than a limited basis. Therefore, the Company uses the expected cost plus a margin as the primary indicator to calculate relative SSP of the LMU, map care, and traffic performance obligations. The revenue and associated costs allocated to the LMU, map care, and/or the server-based traffic service are deferred and recognized ratably over the estimated life of the products of approximately 3 years for PNDs, or the estimated map care period in OEM contracts of 3-10 years as we believe our efforts related to providing these services are spread evenly throughout the performance period. In addition to the products listed above, the Company has offered certain other products with ongoing performance obligations including mobile applications, incremental navigation and/or communication service subscriptions, aviation database subscriptions, and extended warranties that are individually immaterial.

The Company records revenue net of sales tax and variable consideration such as trade discounts and customer returns. Payment is due typically within 90 days or less of shipment of product, or upon the grant of a given software license (as applicable). The Company records estimated reductions to revenue in the form of variable consideration for customer sales programs, returns, and incentive offerings including rebates, price protection (product discounts offered to retailers to assist in clearing older products from their inventories in advance of new product releases), promotions, and other volume-based incentives. Cooperative advertising incentives payable to dealers and distributors are recorded as reductions of revenue unless we obtain proof of a distinct advertising service, in which case we record the incentive as advertising expense. The reductions to revenue are based on estimates and judgments using historical experience and expectation of future conditions. Changes in these estimates could negatively affect the Company’s operating results. These incentives are reviewed periodically and, with the exceptions of price protection and certain other promotions, typically accrued for on a percentage of sales basis.

Deferred Revenues and Costs

At December 29, 2018 and December 30, 2017, the Company had deferred revenues totaling $172,938 and $190,200, respectively, and related deferred costs totaling $57,935 and $63,554, respectively.

Deferred revenue consists primarily of the transaction price allocated to performance obligations that are recognized over a period of time basis as discussed in the Revenue Recognition portion of this footnote. Billings associated with such items are typically completed upon the transfer of control of promised products or services to the customer and recorded to accounts receivable until payment is received. Deferred costs primarily refer to the royalties incurred by the Company associated with the aforementioned unsatisfied performance obligations, which are amortized over the same period as the revenue is recognized. The Company typically pays the associated royalties either monthly or quarterly in arrears, on a per item shipped or installed basis.

The Company applies a practical expedient, as permitted within ASC 340, to expense as incurred the incremental costs to obtain a contract when the amortization period of the asset that would have otherwise been recognized is one year or less.

Shipping and Handling Costs

Shipping and handling activities are typically performed before the customer obtains control of the good, and the related costs are therefore expensed as incurred. Shipping and handling costs are included in cost of goods sold in the accompanying consolidated financial statements.

Product Warranty

The Company accrues for estimated future warranty costs at the time products are sold. The Company’s standard warranty obligation to retail partners generally provides for a right of return of any product for a full refund in the event that such product is not merchantable, is damaged, or is defective. The Company’s historical experience is that these types of warranty obligations are generally fulfilled within 5 months from time of sale. The Company’s standard warranty obligation to its end-users provides for a period of one to two years from date of shipment while certain aviation, marine, and auto OEM products have a warranty period of two years or more from the date of installation. The Company’s estimates of costs to service its warranty obligations are based on historical experience and management’s expectations and judgments of future conditions. To the extent the Company experiences increased warranty claim activity or increased costs associated with servicing those claims, its warranty accrual will increase, resulting in decreased gross profit. The following reconciliation provides an illustration of changes in the aggregate warranty accrual:

	Fiscal Year Ended
	December 29,			December 30,			December 31,
	2018			2017			2016

Balance - beginning of period	$	36,827		$	37,233		$	30,449
Accrual for products sold⁽¹⁾		59,374			56,360			61,578
Expenditures		(57,925	)		(56,766	)		(54,794	)
Balance - end of period	$	38,276		$	36,827		$	37,233

(1)

Changes in cost estimates related to pre-existing warranties are not material and aggregated with accruals for new warranty contracts in the ‘accrual for products sold’ line.

Advertising Costs

The Company expenses advertising costs as incurred. Advertising expense amounted to approximately $155,394, $164,693, and $177,143 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Research and Development

A majority of the Company’s research and development is performed in the United States. Research and development costs, which are typically expensed as incurred, amounted to approximately $567,805, $511,634, and $467,960 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Customer Service and Technical Support

Customer service and technical support costs are included as selling, general and administrative expenses in the accompanying consolidated statements of income. Customer service and technical support costs include costs associated with performing order processing, answering customer inquiries by telephone and through websites, e-mail and other electronic means, and providing free technical support assistance to customers. The technical support is typically provided within one year after the associated revenue is recognized. The related cost of providing this free support is not material.

Software Development Costs

The FASB ASC topic entitled Software requires companies to expense software development costs as they incur them until technological feasibility has been established, at which time those costs are capitalized until the product is available for general release to customers. The Company’s capitalized software development costs are not significant as the time elapsed from working model to release is typically short. As required by the Research and Development topic of the FASB ASC, costs incurred to enhance our existing products or after the general release of the service using the product are expensed in the period they are incurred and included in research and development costs in the accompanying consolidated statements of income.

Accounting for Stock-Based Compensation

The Company currently sponsors four stock-based employee compensation plans. The FASB ASC topic entitled Compensation – Stock Compensation requires the measurement and recognition of compensation expenses for all share-based payment awards made to employees and directors, including employee stock options and restricted stock, based on estimated fair values.

Accounting guidance requires companies to estimate the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as stock-based compensation expense over the requisite service period in the Company’s consolidated financial statements.

As stock-based compensation expenses recognized in the accompanying consolidated statements of income are based on awards ultimately expected to vest, they have been reduced for estimated forfeitures. Accounting guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures were estimated based on historical experience and management’s estimates.

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which is intended to simplify the accounting for share-based payment awards. The Company adopted ASU 2016-09 on a prospective basis during the quarter ended April 1, 2017. ASU 2016-09 requires excess tax benefits or deficiencies from stock-based compensation to be recognized in the income tax provision. The Company previously recorded these amounts to additional paid-in capital. Additionally, under ASU 2016-09, excess tax benefits and deficiencies are not estimated in the effective tax rate, rather, they are recorded as discrete tax items in the period in which they occur. Excess income tax benefits from stock-based compensation arrangements are classified as a cash flow from operations under ASU 2016-09, rather than as a cash flow from financing activities.

Stock compensation plans are discussed in detail in Note 9 of the Notes to Consolidated Financial Statements.

Recently Adopted Accounting Standards

Revenue from Contracts with Customers

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes previous revenue recognition guidance. The FASB issued several updates amending or relating to ASU 2014-09 (collectively, the “new revenue standard”). The Company has adopted the new revenue standard effective beginning in the 2018 fiscal year using the full retrospective method, which requires the Company to restate each prior reporting period presented in future financial statement issuances. The impacts of adopting the new revenue standard relate to our accounting for certain arrangements within the auto segment.

A portion of the Company’s auto segment contracts have historically been accounted for under Accounting Standards Codification (ASC) Topic 985-605 Software-Revenue Recognition (Topic 985-605). Under Topic 985-605, the Company deferred revenue and associated costs of all elements of multiple-element software arrangements if vendor-specific objective evidence of fair value (VSOE) could not be established for an undelivered element (e.g. map updates). In applying the new revenue standard to certain contracts that include both software licenses and map updates, we now recognize the portion of revenue and costs related to the software license at the time of delivery rather than ratably over the map update period.

Additionally, for certain multiple-element arrangements within the Company’s auto segment, the Company’s policy had been to allocate consideration to traffic services and recognize the revenue and associated cost of royalties ratably over the estimated life of the underlying product. Under the new revenue standard, we recognize revenue and associated costs of royalties related to certain broadcast traffic services at the time of hardware and/or software delivery. Specifically, the new revenue standard emphasizes the timing of the Company’s performance, and upon delivery of the navigation device and/or software, the Company has fully performed its obligation with respect to the design and production of the product to receive and interpret the broadcast traffic signal for the benefit of the end user.

The changes in accounting policy described above collectively result in reductions to deferred costs (asset) and deferred revenue (liability) balances, and accelerate the recognition of revenue and deferred costs in the auto segment going forward.

Summarized financial information depicting the impact of the new revenue standard is presented below. The Company’s historical net cash flows provided by or used in operating, investing, and financing activities are not impacted by adoption of the new revenue standard.

	December 30, 2017							December 31, 2016

	As reported		Restated⁽¹⁾		Impact			As reported			Restated⁽¹⁾			Impact
Current assets:
Deferred costs	$	48,312	$	30,525	$	(17,787	)	$	47,395		$	34,665		$	(12,730	)
Total current assets		2,363,925		2,346,138		(17,787	)		2,263,016			2,250,286			(12,730	)
Deferred income taxes		199,343		195,981		(3,362	)		110,293			107,655			(2,638	)
Noncurrent deferred costs		73,851		33,029		(40,822	)		56,151			30,934			(25,217	)
Total assets	$	5,010,260	$	4,948,289	$	(61,971	)	$	4,525,133		$	4,484,549		$	(40,584	)
Current liabilities:
Deferred revenue		139,681		103,140		(36,541	)		146,564			118,496			(28,068	)
Total current liabilities		828,656		792,115		(36,541	)		782,735			754,667			(28,068	)
Deferred income taxes		75,215		76,612		1,397			61,220			62,617			1,397
Non-current deferred revenue		163,840		87,060		(76,780	)		140,407			91,238			(49,169	)
Retained earnings		2,368,874		2,418,444		49,570			2,056,702			2,092,221			35,519
Accumulated other comprehensive income		56,045		56,428		383			(36,761	)		(37,024	)		(263	)
Total stockholders’ equity		3,802,466		3,852,419		49,953			3,418,003			3,453,259			35,256
Total liabilities and stockholders’ equity	$	5,010,260	$	4,948,289	$	(61,971	)	$	4,525,133		$	4,484,549		$	(40,584	)

	52-Weeks Ended December 30, 2017								53-Weeks Ended December 31, 2016

		As reported			Restated⁽¹⁾			Impact		As reported		Restated⁽¹⁾		Impact
Net sales	$	3,087,004		$	3,121,560		$	34,556	$	3,018,665	$	3,045,797	$	27,132
Gross profit		1,783,164			1,797,941			14,777		1,679,570		1,688,525		8,955
Operating income		668,860			683,637			14,777		623,909		632,864		8,955
Income tax (benefit) provision		(12,661	)		(11,936	)		725		118,856		120,901		2,045
Net income	$	694,955		$	709,007		$	14,052	$	510,814	$	517,724	$	6,910
Diluted net income per share	$	3.68		$	3.76		$	0.08	$	2.70	$	2.73	$	0.03

(1)

The Restated results presented above are restated under ASC Topic 606. Amounts related to the income tax effect of the new standard that were previously disclosed as the anticipated adoption impact in Note 2, Summary of Significant Accounting Policies, in the notes to the consolidated financial statements of our fiscal 2017 Annual Report on Form 10-K filed with the SEC on February 21, 2018 have been revised in this Note by immaterial amounts in connection with our adoption of ASC Topic 606.

Financial Instruments – Recognition, Measurement, Presentation, and Disclosure

In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). The standard addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The Company has adopted the new standard effective beginning in the 2018 fiscal year. The adoption did not have a material impact on the Company’s financial position or results of operations.

Statement of Cash Flows

In August 2016, the FASB issued Accounting Standards Update No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which adds or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The standard addresses eight specific cash flow issues with the objective of reducing diversity in practice. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which requires restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling changes in the total amounts within the statement of cash flows. The Company has adopted the new standards effective beginning in the 2018 fiscal year. The adoption of ASU 2016-15 did not have a material impact to the Company’s statements of cash flows. The amendments of ASU 2016-18 were applied using a retrospective transition method, resulting in immaterial changes to the presentation of the Company’s statements of cash flows.

Income Taxes

In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory (“ASU 2016-16”), which requires recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The Company has adopted the new standard effective beginning in the 2018 fiscal year, which resulted in a reclassification of approximately $1,700 of certain prepaid tax balances in a cumulative effect to retained earnings as of the date of adoption.

Income Statement – Reporting Comprehensive Income

In February 2018, the FASB issued Accounting Standards Update No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”), which allows for stranded tax effects in accumulated other comprehensive income resulting from the U.S. Tax Cuts and Jobs Act to be reclassified to retained earnings. The Company has elected to early adopt the new standard effective beginning in the 2018 fiscal year, resulting in reclassification of approximately $452 from accumulated other comprehensive income into retained earnings. The tax effects that were reclassified only relate to amounts resulting from the U.S. Tax Cuts and Jobs Act.

Marketable Securities

12 Months Ended

Dec. 29, 2018

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

3. Marketable Securities

The FASB ASC topic entitled Fair Value Measurements and Disclosures defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The accounting guidance classifies the inputs used to measure fair value into the following hierarchy:

Level 1

Unadjusted quoted prices in active markets for identical assets or liability

Level 2

Observable inputs for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability

Level 3

Unobservable inputs for the asset or liability

The Company endeavors to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Valuation is based on prices obtained from an independent pricing vendor using both market and income approaches. The primary inputs to the valuation include quoted prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, contractual cash flows, benchmark yields, and credit spreads.

The method described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

Available-for-sale securities measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements as of December 29, 2018
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	22,128	$	—	$	22,128	$	—
Agency securities		59,116		—		59,116		—
Mortgage-backed securities		135,865		—		135,865		—
Corporate securities		980,524		—		980,524		—
Municipal securities		173,137		—		173,137		—
Other		142,342		—		142,342		—
Total	$	1,513,112	$	—	$	1,513,112	$	—

	Fair Value Measurements as of December 30, 2017
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	19,337	$	—	$	19,337	$	—
Agency securities		43,361		—		43,361		—
Mortgage-backed securities		174,615		—		174,615		—
Corporate securities		816,793		—		816,793		—
Municipal securities		186,105		—		186,105		—
Other		181,509		—		181,509		—
Total	$	1,421,720	$	—	$	1,421,720	$	—

Marketable securities classified as available-for-sale securities are summarized below:

	Available-For-Sale Securities as of December 29, 2018

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	22,485	$	—	$	(357	)	$	22,128
Agency securities		60,088		28		(1,000	)		59,116
Mortgage-backed securities		142,176		1		(6,312	)		135,865
Corporate securities		1,010,590		33		(30,099	)		980,524
Municipal securities		175,630		73		(2,566	)		173,137
Other		144,606		0		(2,264	)		142,342
Total	$	1,555,575	$	135	$	(42,598	)	$	1,513,112

	Available-For-Sale Securities as of December 30, 2017

		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	19,591	$	—	$	(254	)	$	19,337
Agency securities		44,191		1		(831	)		43,361
Mortgage-backed securities		180,470		13		(5,868	)		174,615
Corporate securities		830,447		136		(13,790	)		816,793
Municipal securities		187,999		110		(2,004	)		186,105
Other		183,730		2		(2,223	)		181,509
Total	$	1,446,428	$	262	$	(24,970	)	$	1,421,720

The Company’s investment policy targets low risk investments with the objective of minimizing the potential risk of principal loss. The fair value of our securities varies from period to period due to changes in interest rates, in the performance of the underlying collateral and in the credit performance of the underlying issuer, among other factors. The Company does not intend to sell the securities that have an unrealized loss shown in the table above, and it is not more likely than not that the Company will be required to sell a security before recovery of its amortized cost basis, which may be maturity.

The Company recognizes the credit component of other-than-temporary impairments of debt securities in “Other Income” and the noncredit component in “Other comprehensive income” for those securities that we do not intend to sell and for which it is not more likely than not that we will be required to sell before recovery. During 2018 and 2017, the Company did not record any material impairment charges on its outstanding securities.

The amortized cost and fair value of the securities at an unrealized loss position at December 29, 2018 were $1,488,514 and $1,445,916 respectively. Approximately 86% of securities in our portfolio were at an unrealized loss position at December 29, 2018. We have the ability to hold these securities until maturity or their value is recovered. We do not consider these unrealized losses to be other than temporary credit losses because there has been no material deterioration in credit quality and no change in the cash flows of the underlying securities. We do not intend to sell the securities and it is not more likely than not that we will be required to sell the securities; therefore, no material impairment has been recorded in the accompanying consolidated statement of income.

The cost of securities sold is based on the specific identification method.

The following tables display additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of December 29, 2018 and December 30, 2017.

	As of December 29, 2018
	Less than 12 Consecutive Months					12 Consecutive Months or Longer

	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	(3	)	$	3,975	$	(354	)	$	18,153
Agency securities		(5	)		4,656		(995	)		40,508
Mortgage-backed securities		(1	)		361		(6,311	)		135,323
Corporate securities		(4,028	)		323,633		(26,071	)		640,439
Municipal securities		(454	)		38,371		(2,112	)		118,362
Other		(102	)		8,015		(2,162	)		114,120
Total	$	(4,593	)	$	379,011	$	(38,005	)	$	1,066,905

	As of December 30, 2017
	Less than 12 Consecutive Months					12 Consecutive Months or Longer

	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	(111	)	$	12,966	$	(143	)	$	6,371
Agency securities		(168	)		16,097		(663	)		25,972
Mortgage-backed securities		(503	)		19,628		(5,365	)		153,835
Corporate securities		(4,562	)		439,174		(9,228	)		347,052
Municipal securities		(1,027	)		125,819		(977	)		38,167
Other		(2,219	)		136,147		(4	)		2,579
Total	$	(8,590	)	$	749,831	$	(16,380	)	$	573,976

The amortized cost and fair value of marketable securities at December 29, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

	Amortized Cost		Fair Value

Due in one year or less	$	183,894	$	182,989
Due after one year through five years		1,261,083		1,227,551
Due after five years through ten years		110,598		102,572
	$	1,555,575	$	1,513,112

Commitments and Contingencies

12 Months Ended

Dec. 29, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

4. Commitments and Contingencies

Commitments

Rental expense related to real estate, equipment, and vehicles amounted to $21,096, $18,915, and $19,657 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively. The Company recognizes rental expense on a straight-line basis over the lease term.

Future minimum rental payments are as follows:

Year	Amount
2019	$	17,170
2020		13,961
2021		10,559
2022		7,290
2023		6,947
Thereafter		13,910
Total	$	69,837

Certain cash balances are held as collateral in relation to bank guarantees. The total amount of restricted cash was $73 and $271 at December 29, 2018 and December 30, 2017, respectively.

The Company is party to certain commitments, which include purchases of raw materials, advertising expenditures, and other indirect purchases in connection with conducting our business. The aggregate amount of purchase orders and other commitments open as of December 29, 2018 was approximately $354,553. We cannot determine the aggregate amount of such purchase orders that represent contractual obligations because purchase orders may represent authorizations to purchase rather than binding agreements. Our purchase orders are based on our current needs and are fulfilled by our suppliers, contract manufacturers, and logistics providers within short periods of time.

Contingencies

In the normal course of business, the Company and its subsidiaries are parties to various legal claims, investigations and complaints, including matters alleging patent infringement and other intellectual property claims. The Company evaluates, on a quarterly and annual basis, developments in legal proceedings, investigations, claims, and other loss contingencies that could affect any required accrual or disclosure or estimate of reasonably possible loss or range of loss. An estimated loss from a loss contingency is accrued by a charge to income if it is probable that an asset has been impaired or a liability has been incurred and the amount of the loss can be reasonably estimated. If a range of loss is estimated, and some amount within that range appears to be a better estimate than any other amount within that range, then that amount is accrued. If no amount within the range can be identified as a better estimate than any other amount, the Company accrues the minimum amount in the range.

If an outcome unfavorable to the Company is determined to be probable, but the amount of loss cannot be reasonably estimated or is determined to be reasonably possible, but not probable, we disclose the nature of the contingency and an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made. The Company’s aggregate range of reasonably possible losses includes (1) matters where a liability has been accrued and there is a reasonably possible loss in excess of the amount accrued for that liability, and (2) matters where a loss is believed to be reasonably possible, but not probable, and a liability therefore has not been accrued. This aggregate range only represents the Company’s estimate of reasonably possible losses and does not represent the Company’s maximum loss exposure. The assessment regarding whether a loss is probable or reasonably possible, and whether the loss or a range of loss is estimable, often involves a series of complex judgments about future events. In assessing the probability of an outcome in a lawsuit, claim or assessment that could be unfavorable to the Company, we consider the following factors, among others: a) the nature of the litigation, claim, or assessment; b) the progress of the case; c) the opinions or views of legal counsel and other advisers; d) our experience in similar cases; e) the experience of other entities in similar cases; and f) how we intend to respond to the lawsuit, claim, or assessment. Costs incurred in defending lawsuits, claims or assessments are expensed as incurred.

Management of the Company currently does not believe it is reasonably possible that the Company may have incurred a material loss, or a material loss in excess of recorded accruals, with respect to loss contingencies in the aggregate, for the fiscal year ended December 29, 2018. The results of legal proceedings, investigations and claims, however, cannot be predicted with certainty. An adverse resolution of one or more of such matters in excess of management’s expectations could have a material adverse effect in the particular quarter or fiscal year in which a loss is recorded, but based on information currently known, the Company does not believe it is likely that losses from such matters would have a material adverse effect on the Company’s business or its consolidated financial position, results of operations or cash flows.

The Company settled or resolved certain legal matters during the fiscal years ended December 29, 2018, December 30, 2017, and December 31, 2016 that did not individually or in the aggregate have a material impact on the Company’s business or its consolidated financial position, results of operations or cash flows.

Employee Benefit Plans

12 Months Ended

Dec. 29, 2018

Retirement Benefits [Abstract]

Employee Benefit Plans

5. Employee Benefit Plans

GII and the Company’s other U.S.-based subsidiaries sponsor a defined contribution employee retirement plan under which their employees may contribute up to 50% of their annual compensation subject to Internal Revenue Code maximum limitations and to which the subsidiaries contribute a specified percentage of each participant’s annual compensation up to certain limits as defined in the retirement plan. During the years ended December 29, 2018, December 30, 2017, and December 31, 2016, expense related to this and other defined contribution plans of $52,232, $43,826, and $40,844, respectively, was charged to operations.

Certain of the Company’s foreign subsidiaries participate in local defined benefit pension plans. Contributions are calculated by formulas that consider final pensionable salaries. Neither obligations nor contributions for the years ended December 29, 2018, December 30, 2017, and December 31, 2016 were significant.

Income Taxes

12 Months Ended

Dec. 29, 2018

Income Tax Disclosure [Abstract]

Income Taxes

6. Income Taxes

The Company’s income tax provision (benefit) consists of the following:

	Fiscal Year Ended
	December 29,			December 30,			December 31,
	2018			2017			2016
Federal:
Current	$	26,784		$	31,343		$	66,627
Deferred		13,249			50,724			4,522
	$	40,033		$	82,067		$	71,149
State:
Current	$	13,015		$	4,203		$	8,809
Deferred		(1,599	)		11,684			(3,933	)
	$	11,416		$	15,887		$	4,876
Foreign:
Current	$	53,625		$	43,688		$	42,406
Deferred		24,093			(153,578	)		2,470
	$	77,718		$	(109,890	)	$	44,876

Total	$	129,167		$	(11,936	)	$	120,901

The income tax provision differs from the amount computed by applying the U.S. statutory federal income tax rate to income before taxes. The sources and tax effects of the differences, including the impact of establishing tax contingency accruals, are as follows:

	Fiscal Year Ended
	December 29,			December 30,			December 31,
	2018			2017			2016
Federal income tax expense at U.S. statutory rate	$	172,882		$	243,975		$	223,519
State income tax expense, net of federal tax effect		5,339			5,977			2,749
Foreign-Derived Intangible Income Deduction		(4,666	)		—			—
Foreign tax rate differential		(38,563	)		(106,763	)		(113,078	)
Other foreign taxes less incentives and credits		(12,841	)		(4,646	)		(16,593	)
Withholding Tax		33,306			14,632			17,447
Net Change in Uncertain Tax Positions		(13,728	)		5,363			17,328
Federal Domestic Production Activities Deduction		—			(3,895	)		(5,528	)
Federal Research and Development Credit		(16,562	)		(10,851	)		(8,548	)
Switzerland Corporate Tax Election		—			(180,034	)		—
Share Based Compensation		(2,747	)		19,916			—
Other, net		6,747			4,390			3,605
Income tax expense (benefit)	$	129,167		$	(11,936	)	$	120,901

The Company recorded income tax benefit of $11,936 in the year ended December 30, 2017, which included an income tax benefit of $180,034 primarily related to the revaluation of certain Switzerland deferred tax assets resulting from the Company’s election in the first quarter of 2017 to align certain Switzerland corporate tax positions with international tax initiatives.

The Company’s statutory federal income tax rate in Switzerland, the Company’s place of incorporation since the Redomestication, effective June 27, 2010, is 7.83%. If the Company reconciled taxes at the Swiss holding company federal statutory tax rate to the reported income tax for 2018 as presented above, the amounts related to tax at the statutory rate would be approximately $108,000 lower, or $65,000, and the foreign tax rate differential would be adjusted by a similar amount to approximately $65,000. For 2017, the amounts related to tax at the statutory rate would be approximately $186,000 lower, or $53,600, and the foreign tax rate differential would be adjusted by a similar amount to approximately $77,000. For 2016, the amount related to tax at the statutory rate would be approximately $171,000 lower, or $49,000, and the foreign tax differential would be reduced by a similar amount to approximately $55,000. All other amounts would remain substantially unchanged.

The Company’s income before income taxes attributable to non-U.S. operations was $532,657, $461,436, and $453,729, for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Income taxes of $36,800, $45,534, and $45,291 at December 29, 2018, December 30, 2017, and December 31, 2016, respectively, have not been accrued by the Company for the unremitted earnings of several of its foreign subsidiaries because such earnings are intended to be reinvested in the subsidiaries indefinitely.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:

	December 29,			December 30,
	2018			2017
Deferred tax assets:
Product warranty accruals	$	2,468		$	2,202
Allowance for doubtful accounts		3,964			5,129
Inventory reserves		6,023			6,920
Sales program allowances		1,657			910
Reserve for sales returns		1,368			816
Accrued vacation		8,179			7,121
Other accruals		3,336			3,601
Share based compensation		6,744			6,261
Tax credit carryforwards		9,697			8,413
Amortization		147,674			165,162
Net operating losses		3,580			8,799
Benefit related to uncertain tax positions		5,852			5,383
Other		4,543			3,677
Valuation allowance related to loss carryforward and tax credits		(4,568	)		(7,267	)
	$	200,517		$	217,127
Deferred tax liabilities:
Depreciation		17,543			11,674
Prepaid Expenses		2,257			3,147
Book basis in excess of tax basis for acquired entities		14,068			17,364
Withholding tax		79,660			60,555
Other		2,974			5,018
		116,502			97,758
Net deferred tax assets	$	84,015		$	119,369

At December 29, 2018, the Company had $9,697 of tax credit carryover compared to $8,413 at December 30, 2017.

At December 29, 2018, the Company had a deferred tax asset of $3,580 related to the future tax benefit on net operating loss (NOL) carryforwards of $15,604. Included in the NOL carryforwards is $1,437 that relates to Finland and expires in varying amounts between 2025 and 2028, $1,889 that relates to various United States state jurisdictions and expires in varying amounts between 2022 and 2037, $1,353 that relates to the Netherlands and expires in 2026, and $10,925 that relates to various other jurisdictions and has no expiration date. The Company has recorded a valuation allowance for a portion of its deferred tax asset relating to various tax attributes that it does not believe are more likely than not to be realized. In the future, if the Company determines, based on existence of sufficient evidence, that it should realize more or less of its deferred tax assets, an adjustment to the valuation allowance will be made in the period such a determination is made.

On December 22, 2017, the Tax Cuts and Jobs Act was enacted into law in the United States. Due to the complexities of the new tax legislation, the SEC issued Staff Accounting Bulletin No. 118 (“SAB 118”) which allowed for the recognition of provisional amounts during a measurement period. The Company recorded a provisional remeasurement of its deferred tax assets and liabilities in the fourth quarter of 2017. The Company filed its U.S. federal and state income tax returns during the third and fourth quarters of 2018, which did not result in adjustments of its provisional remeasurement of deferred tax assets and liabilities.

The total amount of gross unrecognized tax benefits as of December 29, 2018 was $118,287. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for years ended December 29, 2018, December 30, 2017, and December 31, 2016 is as follows:

	December 29,			December 30,			December 31,
	2018			2017			2016
Balance beginning of year	$	130,798		$	115,090		$	97,904
Additions based on tax positions related to prior years		1,138			8,564			489
Reductions based on tax positions related to prior years		(5,340	)		(983	)		(940	)
Additions based on tax positions related to current period		19,368			26,295			28,859
Reductions related to settlements with tax authorities		(527	)		—			(134	)
Expiration of statute of limitations		(27,150	)		(18,168	)		(11,088	)
Balance at end of year	$	118,287		$	130,798		$	115,090

Accounting guidance requires unrecognized tax benefits to be classified as noncurrent liabilities, except for the portion that is expected to be paid within one year of the balance sheet date. The entire balance of net unrecognized benefits of $114,682, $127,306 and $109,667 are required to be classified as noncurrent at December 29, 2018, December 30, 2017, and December 31, 2016, respectively. The net unrecognized tax benefits, if recognized, would reduce the effective tax rate. None of the unrecognized tax benefits are due to uncertainty in the timing of deductibility.

Interest and penalties, if any, accrued on the unrecognized tax benefits are reflected in income tax expense. At December 29, 2018, December 30, 2017, and December 31, 2016, the Company had accrued approximately $6,613, $5,605, and $3,901, respectively, for interest. The interest component of the reserve increased income tax expense for the years ending December 29, 2018, December 30, 2017, and December 31, 2016, by $1,008, $1,704, and $1,422 respectively. The Company did not have significant amounts accrued for penalties for the years ending December 29, 2018, December 30, 2017, and December 31, 2016.

The Company files income tax returns in Switzerland, U.S. federal jurisdiction, as well as various states, local, and foreign jurisdictions. In its major tax jurisdictions, Switzerland, Taiwan, United Kingdom, and U.S. federal and various states, the Company is no longer subject to income tax examinations by tax authorities, with few exceptions, for years prior to 2014, 2013, 2016, and 2015, respectively.

The Company recognized a reduction of income tax expense of $27,106, $17,918, and $11,151 in fiscal years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively, to reflect the expiration of statutes of limitations and releases due to audit settlement in various jurisdictions.

The Company believes that it is reasonably possible that approximately $20,000 to $25,000 of its reserves for certain unrecognized tax benefits will decrease within the next 12 months as the result of the expiration of statutes of limitations. This potential decrease in unrecognized tax benefits would impact the Company’s effective tax rate within the next 12 months.

Fair Value of Financial Instruments

12 Months Ended

Dec. 29, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

7. Fair Value of Financial Instruments

As required by the Financial Instruments topic of the FASB ASC, the following summarizes required information about the fair value of certain financial instruments for which it is currently practicable to estimate such value. None of the financial instruments are held or issued for trading purposes. The carrying amounts and fair values of the Company’s financial instruments are as follows:

	December 29, 2018				December 30, 2017
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Cash and cash equivalents	$	1,201,732	$	1,201,732	$	891,488	$	891,488
Restricted cash	$	73	$	73	$	271	$	271
Marketable securities	$	1,513,112	$	1,513,112	$	1,421,720	$	1,421,720

For certain of the Company’s financial instruments, including accounts receivable, loan receivable, accounts payable and other accrued liabilities, the carrying amounts approximate fair value due to their short maturities.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Segment Information

12 Months Ended

Dec. 29, 2018

Segment Reporting [Abstract]

Segment Information

8. Segment Information

The Company has identified five reportable segments – auto, aviation, marine, outdoor and fitness. There are two operating segments (auto PND and auto OEM) that are not reported separately but aggregated within the auto reportable segment. Each operating segment is individually reviewed and evaluated by the Chief Operating Decision Maker (CODM), who allocates resources and assesses performance of each segment individually.

All of the Company’s reportable segments offer products through the Company’s network of independent dealers and distributors as well as through OEMs. However, the nature of products and types of customers for the five reportable segments vary. The Company’s marine, auto, outdoor, and fitness segments include portable global positioning system (GPS) receivers and accessories sold primarily to retail outlets. These products are produced primarily by the Company’s subsidiary in Taiwan. The Company’s aviation products are portable and panel mount avionics for Visual Flight Rules and Instrument Flight Rules navigation and are sold primarily to aviation dealers and certain aircraft manufacturers.

The Company’s Chief Executive Officer has been identified as the CODM. The CODM uses operating income as the measure of profit or loss to assess segment performance and allocate resources. Operating income represents net sales less costs of goods sold and operating expenses. Net sales are directly attributed to each segment. Most costs of goods sold and the majority of operating expenses are also directly attributed to each segment, while certain other costs of goods sold and operating expenses are allocated to the segments in a manner appropriate to the specific facts and circumstances of the expenses being allocated. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. There are no inter-segment sales or transfers.

The Company’s reportable segments share many common resources, infrastructures and assets in the normal course of business. Thus, the Company does not report accounts receivable, inventories, property and equipment, intangible assets, or capital expenditures by segment to the CODM.

Net sales (“revenue”), gross profit, and operating income for each of the Company’s reportable segments are presented below.

	Reportable Segments

52-Weeks Ended December 29, 2018	Outdoor		Fitness		Marine		Auto		Aviation		Total

Net sales	$	809,883	$	858,329	$	441,560	$	634,213	$	603,459	$	3,347,444
Gross profit		528,254		471,764		258,756		270,793		450,152		1,979,719
Operating income		290,510		181,745		63,344		37,998		204,746		778,343

52-Weeks Ended December 30, 2017

Net sales	$	698,867	$	762,194	$	374,001	$	785,139	$	501,359	$	3,1221,560
Gross profit		448,410		422,636		212,592		342,698		371,605		1,797,941
Operating income		249,867		146,765		50,328		82,744		153,933		683,637

53-Weeks Ended December 31, 2016

Net sales	$	546,326	$	818,486	$	331,947	$	909,690	$	439,348	$	3,045,797
Gross profit		340,504		437,205		183,709		397,702		329,405		1,688,525
Operating income		184,035		160,596		52,167		111,302		124,764		632,864

Net sales, property and equipment, and net assets by geographic area are as shown below for the years ended December 29, 2018, December 30, 2017, and December 31, 2016. Note that APAC includes Asia Pacific and Australian Continent, and EMEA includes Europe, the Middle East and Africa.

	Americas		APAC		EMEA		Total
December 29, 2018
Net sales to external customers ⁽¹⁾	$	1,596,716	$	545,759	$	1,204,969	$	3,347,444
Property and equipment, net		408,992		208,964		45,571		663,527
Net assets ⁽²⁾		2,726,196		995,272		441,506		4,162,974

December 30, 2017
Net sales to external customers ⁽¹⁾	$	1,504,194	$	444,828	$	1,172,538	$	3,121,560
Property and equipment, net		381,974		173,392		40,318		595,684
Net assets ⁽²⁾		2,375,522		982,898		493,999		3,852,419

December 31, 2016
Net sales to external customers ⁽¹⁾	$	1,538,550	$	386,411	$	1,120,836	$	3,045,797
Property and equipment, net		300,158		144,470		38,250		482,878
Net assets ⁽²⁾		2,188,417		933,999		330,844		3,453,260

⁽¹⁾

The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

⁽²⁾

Americas and APAC net assets are primarily held in the United States and Taiwan, respectively.

Stock Compensation Plans

12 Months Ended

Dec. 29, 2018

Stock Compensation Plans

9. Stock Compensation Plans

Accounting for Stock-Based Compensation

The various Company stock compensation plans are summarized below. For all stock compensation plans, the company’s policy is to issue treasury shares for option/stock appreciation right (SAR) exercises, restricted stock unit (RSU) releases and employee stock purchase plan (ESPP) purchases.

2011 Non-employee Directors’ Equity Incentive Plan

In June 2011, the stockholders adopted an equity incentive plan for non-employee directors (the “2011 Directors Plan”) providing for grants of stock options, SARs, RSUs and/or performance shares, pursuant to which up to 122,592 shares were available for issuance. The term of each award cannot exceed ten years. Awards may vest over a minimum two-year period. In 2018, 2017, and 2016, 10,376, 10,432, and 12,984 RSUs were granted under this plan.

2005 Equity Incentive Plan

In June 2005, the shareholders adopted an equity incentive plan (the “2005 Plan”) providing for grants of incentive and nonqualified stock options, SARs, RSUs and/or performance shares to employees of the Company and its subsidiaries, pursuant to which up to 10,000,000 common shares were available for issuance. In 2013, the shareholders approved an additional 3,000,000 shares to the plan, making the total shares authorized under the plan 13,000,000. Option and SAR grants vest evenly over a period of five years or as otherwise determined by the Board of Directors or the Compensation Committee and generally expire ten years from the date of grant, if not exercised. RSUs granted prior to December 10, 2012 vested evenly over a period of five years, while RSUs granted on and after that date vested or are vesting evenly over a period of three years. In addition to time-based vesting requirements, the vesting of certain RSU grants is also contingent upon the Company’s achievement of certain financial performance goals. During 2018, 2017, and 2016, 1,040,001, 1,044,045, and 1,228,427 RSUs were granted under the 2005 Plan. No SARs were granted under the 2005 Plan in 2018, 2017, and 2016.

2000 Equity Incentive Plan

In October 2000, the shareholders adopted an equity incentive plan (the “2000 Plan”) providing for grants of incentive and nonqualified stock options, SARs, RSUs and/or performance shares to employees of the Company and its subsidiaries, pursuant to which up to 7,000,000 common shares were available for issuance. The stock options and SARs vest evenly over a period of five years or as otherwise determined by the Board of Directors or the Compensation Committee and generally expire ten years from the date of grant, if not exercised. The Company did not grant any stock awards from the 2000 Plan in 2018, 2017, or 2016.

2000 Non-employee Directors’ Option Plan

In October 2000, the stockholders adopted a stock option plan for non-employee directors (the “2000 Directors Plan”) providing for grants of options for up to 100,000 common shares. In 2009, the stockholders approved an additional 150,000 shares to the plan, making the total shares authorized under the plan 250,000. The term of each award is ten years. All awards vest evenly over a three-year period. Following the June 2011 approval of the 2011 Directors Plan, the Company will no longer issue options to purchase shares under this plan.

Stock-Based Compensation Activity

A summary of the Company’s stock-based compensation activity and related information under the 2011 Directors Plan, the 2005 Plan, the 2000 Plan and the 2000 Directors Plan for the years ended December 29, 2018, December 30, 2017, and December 31, 2016 is provided below:

	Stock Options and SARs

	Weighted-Average
	Exercise Price		Number of Shares
			(In Thousands)

Outstanding at December 26, 2015	$	66.80		4,061
Granted				—
Exercised	$	50.77		(716	)
Forfeited/Expired	$	51.12		(608	)
Outstanding at December 31, 2016	$	74.48		2,737
Granted				—
Exercised	$	50.15		(397	)
Forfeited/Expired	$	84.57		(1,948	)
Outstanding at December 30, 2017	$	48.94		392
Granted				—
Exercised	$	48.16		(304	)
Forfeited/Expired	$	83.01		(2	)
Outstanding at December 29, 2018	$	50.92		86
Exercisable at December 29, 2018	$	50.74		76
Expected to vest after December 29, 2018	$	52.44		10

Stock Options and SARs as of December 29, 2018
Exercise	Awards		Remaining		Awards
Price	Outstanding		Life (Years)		Exercisable
	(In Thousands)				(In Thousands)

$18.00 - $40.00		—		—		—
$40.01 - $60.00		86		5.51		76
$60.01 - $80.00		—		—		—
$80.01 - $100.00		—		—		—
$100.01 - $120.00		—		—		—
$120.01 - $140.00		—		—		—
		86		5.51		76

	Restricted Stock Units

	Weighted-Average
	Grant Date Fair Value		Number of Shares
			(In Thousands)

Outstanding at December 26, 2015	$	39.45		1,657
Granted	$	40.59		1,241
Released/Vested	$	38.96		(565	)
Cancelled	$	44.57		(509	)
Outstanding at December 31, 2016	$	38.94		1,824
Granted	$	51.71		1,055
Released/Vested	$	39.31		(763	)
Cancelled	$	40.40		(54	)
Outstanding at December 30, 2017	$	45.30		2,062
Granted	$	58.66		1,050
Released/Vested	$	42.55		(961	)
Cancelled	$	47.91		(52	)
Outstanding at December 29, 2018	$	53.17		2,099

The weighted-average remaining contract life for stock options and SARs outstanding and exercisable at December 29, 2018 was 5.51 and 5.45 years, respectively. The weighted-average remaining contract life of restricted stock units at December 29, 2018 was 1.21 years.

The total fair value of awards vested during 2018, 2017, and 2016 was $41,092, $30,280, and $22,429, respectively. The aggregate intrinsic values of options and SARs outstanding and exercisable at December 29, 2018 were $1,018 and $920, respectively. The aggregate intrinsic values of options and SARs exercised during 2018, 2017, and 2016 were $4,452, $3,742, and $1,632, respectively. The aggregate intrinsic value of RSUs outstanding at December 29, 2018 was $131,876. The aggregate intrinsic values of RSUs released during 2018, 2017, and 2016 were $60,361, $45,424, and $27,386, respectively. Aggregate intrinsic value of options and SARs represents the applicable number of awards multiplied by the positive difference between the exercise price and the Company’s closing stock price on the last trading day of the relevant fiscal period. Aggregate intrinsic value of RSUs represents the applicable number of awards multiplied by the Company’s closing stock price on the last trading day of the relevant fiscal period. The Company’s closing stock price was $62.82 on December 29, 2018. As of December 29, 2018, there was $72,912 of total unrecognized compensation cost related to unvested share-based compensation awards granted to employees under the stock compensation plans. That cost is expected to be recognized over the weighted average remaining vesting period.

Employee Stock Purchase Plan

The shareholders have adopted an ESPP. Up to 6,000,000 shares of common stock have been reserved for the ESPP. Shares will be offered to employees at a price equal to the lesser of 85% of the fair market value of the stock on the date of purchase or 85% of the fair market value on the first day of the ESPP period. The ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. During 2018, 2017, and 2016, 463,066, 489,267, and 541,018 shares, respectively, were purchased under the plan for a total purchase price of $23,709, $20,996, and $18,157, respectively. During 2018, 2017, and 2016, the purchases were issued from treasury shares. At December 29, 2018, approximately 507,301 shares were available for future issuance.

Earnings Per Share

12 Months Ended

Dec. 29, 2018

Earnings Per Share [Abstract]

Earnings Per Share

10. Earnings Per Share

The following table sets forth the computation of basic and diluted net income per share:

	Fiscal Year Ended
	December 29, 2018		December 30, 2017		December 31, 2016
Numerator:
Numerator for basic and diluted net income per share - net income	$	694,080	$	709,007	$	517,724

Denominator:
Denominator for basic net income per share – weighted-average common shares		188,635		187,828		188,818

Effect of dilutive securities – employee stock options and stock appreciation rights		1,099		904		525

Denominator for diluted net income per share – adjusted weighted-average common shares		189,734		188,732		189,343

Basic net income per share	$	3.68	$	3.77	$	2.74

Diluted net income per share	$	3.66	$	3.76	$	2.73

There were no outstanding stock options, stock appreciation rights, and restricted stock units (collectively “equity awards”) excluded from the computation of diluted earnings per share for the 2018 fiscal year because the effect would have been anti-dilutive. There were 1,175,728 and 3,547,738 equity awards excluded from the computation of diluted earnings per share for the 2017 and 2016 fiscal years, respectively, because the effect would have been anti-dilutive.

Share Repurchase Plan

12 Months Ended

Dec. 29, 2018

Equity [Abstract]

Share Repurchase Plan

11. Share Repurchase Plan

On February 13, 2015, the Board of Directors approved a share repurchase program authorizing the Company to purchase up to $300,000 of its common shares through December 31, 2016. In December 2016, the Board of Directors authorized an extension through December 31, 2017 to purchase remaining common shares. Under the plan, the Company repurchased 0 shares in fiscal 2018, 1,474,092 shares using cash of $74,523 in fiscal 2017, and 2,152,716 shares using cash of $93,233 in fiscal 2016.

Accumulated Other Comprehensive Income

12 Months Ended

Dec. 29, 2018

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Income

12. Accumulated Other Comprehensive Income

The following provides required disclosure of changes in accumulated other comprehensive income (AOCI) balances by component for the year ended December 29, 2018:

	Foreign Currency Translation Adjustment			Net unrealized gains (losses) on available-for-sale securities			Total
Balance - beginning of period	$	79,292		$	(22,864	)	$	56,428
Other comprehensive income before reclassification, net of income tax expense of $2,174		(31,965	)		(16,283	)		(48,248	)
Amounts reclassified from accumulated other comprehensive income		—			702			702
Net current-period other comprehensive income		(31,965	)		(15,581	)		(47,546	)
Reclassification of tax effects due to adoption of ASU 2018-02		—			(452	)		(452	)
Balance - end of period	$	47,327		$	(38,897	)	$	8,430

The following provides required disclosure of reporting reclassifications out of AOCI for the year ended December 29, 2018:

52-Weeks Ended Dec 29, 2018
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income is Presented

Unrealized gains (losses) on available-for-sale securities	$	(827	)	Other income (expense)
		125		Income tax benefit (provision)
	$	(702	)	Net of tax

Revenue

12 Months Ended

Dec. 29, 2018

Revenue from Contract with Customer [Abstract]

Revenue

13. Revenue

In order to further depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors, we disaggregate revenue (or “net sales”) by geographic region, major product category, and pattern of recognition.

Disaggregated revenue by geographic region (Americas, APAC, and EMEA) is presented in Note 8 – Segment Information. The Company has identified six major product categories – aviation, marine, outdoor, fitness, auto PND, and auto OEM. Note 8 also contains disaggregated revenue information of the aviation, marine, outdoor, and fitness major product categories. Auto segment revenue presented in Note 8 is comprised of the auto PND and auto OEM major product categories as depicted below.

	Auto Revenue by Major Product Category

	Fiscal Year Ended
	December 29, 2018			December 30, 2017			December 31, 2016
Auto PND		67	%		69	%		76	%
Auto OEM		33	%		31	%		24	%

A large majority of the Company’s sales are recognized on a point in time basis, usually once the product is shipped and title and risk of loss have transferred to the customer. Sales recognized over a period of time are primarily within the auto segment and relate to performance obligations that are satisfied over the life of the product or contractual service period. Revenue disaggregated by the timing of transfer of the goods or services is presented in the table below:

	Fiscal Year Ended
	December 29, 2018		December 30, 2017		December 31, 2016
Point in time	$	3,176,949	$	2,954,945	$	2,864,501
Over time		170,495		166,615		181,296
Net sales	$	3,347,444	$	3,121,560	$	3,045,797

Transaction price and costs associated with the Company’s unsatisfied performance obligations are reflected as deferred revenue and deferred costs, respectively, on the Company’s consolidated balance sheets. Such amounts are recognized ratably over the applicable service period or estimated useful life. Changes in deferred revenue and costs during the 52-week periods ending December 29, 2018 and December 30, 2017, are presented below:

	Fiscal Year Ended
	December 29, 2018						December 30, 2017

	Deferred Revenue⁽¹⁾			Deferred Costs⁽²⁾			Deferred Revenue⁽¹⁾			Deferred Costs⁽²⁾

Balance, beginning of period	$	190,200		$	63,554		$	209,735		$	65,599
Deferrals in period		153,233			36,297			147,080			39,053
Recognition of deferrals in period		(170,495	)		(41,916	)		(166,615	)		(41,098	)
Balance, end of period	$	172,938		$	57,935		$	190,200		$	63,554

⁽¹⁾Deferred revenue is comprised of both Deferred revenue and Noncurrent deferred revenue per the Consolidated Balance Sheets

⁽²⁾Deferred costs are comprised of both Deferred costs and Noncurrent deferred costs per the Consolidated Balance Sheets

Of the $170,495 of deferred revenue recognized in the 52-weeks ended December 29, 2018, $105,924 was deferred as of the beginning of the period. Of the $166,615 of deferred revenue recognized in the 52-weeks ended December 30, 2017, $114,787 was deferred as of the beginning of the period.

Of the $172,938 and $190,200 of deferred revenue at the end of the periods, December 29, 2018, and December 30, 2017, respectively, approximately two-thirds is recognized ratably over a period of three years or less.

Selected Quarterly Information (Unaudited)

12 Months Ended

Dec. 29, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Information (Unaudited)

14. Selected Quarterly Information (Unaudited)

52-Weeks Ended December 29, 2018

Quarter Ending

March 31

June 30

September 29

December 29

Net sales

$

710,872

$

894,452

$

810,011

$

932,108

Gross profit

426,535

523,270

480,747

549,166

Net income

129,374

190,342

184,214

190,150

Basic net income per share

$

0.69

$

1.01

$

0.98

$

1.01

Diluted net income per share

$

0.68

$

1.00

$

0.97

$

1.00

52-Weeks Ended December 30, 2017

Quarter Ending

April 1

July 1

September 30

December 30

Net sales

$

641,510

$

831,486

$

751,244

$

897,319

Gross profit

372,806

484,130

437,523

503,482

Net income

238,404

176,979

151,074

142,550

Basic net income per share

$

1.27

$

0.94

$

0.81

$

0.76

Diluted net income per share

$

1.26

$

0.94

$

0.80

$

0.75

The above quarterly financial data is unaudited, but in the opinion of management, all adjustments necessary for a fair presentation of the selected data for these interim periods presented have been included. These results are not necessarily indicative of future quarterly results, and the table may not foot due to rounding.

Recently Issued Accounting Pronouncements

12 Months Ended

Dec. 29, 2018

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

15. Recently Issued Accounting Pronouncements

Leases

In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The FASB subsequently issued Accounting Standards Update No. 2018-10 and Accounting Standards Update No. 2018-11 in July 2018, which provide clarifications and improvements to ASU 2016-02 (collectively, the “new lease standard”). Accounting Standards Update No. 2018-11 also provides the optional transition method, which allows companies to apply the new lease standard at the adoption date instead of at the earliest comparative period presented. The new lease standard requires lessees to present a right-of-use asset and a corresponding lease liability on the balance sheet. Lessor accounting is substantially unchanged compared to the current accounting guidance. Additional footnote disclosures related to leases will also be required. The new lease standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018.

The Company has adopted the new lease standard as of the beginning of its 2019 fiscal year (the Company’s “adoption date”) using the optional transition method. The Company elected the package of transitional practical expedients upon adoption which, among other provisions, allows the Company to carry forward historical lease classification. The Company also made an accounting policy election to not recognize a right-of-use asset and lease liability for short term leases with an original term of 12 months or less. Expense associated with short term leases will continue to be recognized in the consolidated statements of income on a straight-line basis over the term of the lease.

Adoption of the standard resulted in the recognition of a right-of-use asset and a lease liability for operating leases of approximately $60 million each on the Company’s consolidated balance sheet as of the adoption date, as the Company’s leases are primarily classified as operating leases. The Company does not expect the new lease standard to have a material impact on the Company’s consolidated statements of income or consolidated statements of cash flows. Prior periods of the consolidated financial statements are unchanged due to our election to apply the optional transition method. In conjunction with adopting the new lease standard, the Company has implemented changes to accounting policies, processes, systems, and internal controls to enable financial reporting under the new standard.

Intangible – Goodwill and Other

In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Intangible – Goodwill and Other (Topic 350): Simplify the Test for Goodwill Impairment (“ASU 2017-04”) which simplifies the accounting for goodwill impairment. ASU 2017-04 removes Step 2 of the goodwill impairment test, such that a goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value. ASU 2017-04 should be applied prospectively and is effective for fiscal years, or any goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Company is currently evaluating the impact of adopting the new standard on its consolidated financial statements.

Receivables – Nonrefundable Fees and Other Costs

In March 2017, the FASB issued Accounting Standards Update No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities (“ASU 2017-08”), which shortens the amortization period for certain callable debt securities held at a premium, requiring the premium to be amortized to the earliest call date. Callable debt securities held at a discount continue to be amortized to maturity. ASU 2017-08 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adopting the new standard on its consolidated financial statements.

Subsequent Events

12 Months Ended

Dec. 29, 2018

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

On February 12, 2019, Garmin Ltd. announced the signing of a purchase agreement to acquire Tacx, a privately-held Dutch company, that designs and manufacturers indoor bike trainers, tools and accessories, as well as indoor training software and applications. The acquisition is not expected to be material. The completion of the acquisition is subject to customary regulatory approvals and closing conditions.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 29, 2018

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The accompanying consolidated financial statements reflect the accounts of Garmin Ltd. and its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated.

As previously announced and discussed below within the “Recently Adopted Accounting Standards” section of this footnote, effective beginning in the 2018 fiscal year, we adopted the requirements of Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), using the full retrospective method. All amounts and disclosures set forth in this Form 10-K reflect these changes. Further, as a result of the adoption of certain other accounting standards described below, effective beginning in the 2018 fiscal year, certain amounts in prior periods have been reclassified to conform to the current period presentation.

Fiscal Year

Fiscal Year

The Company’s fiscal year is based on a 52-53-week period ending on the last Saturday of the calendar year. Due to the fact that there are not exactly 52 weeks in a calendar year, and there is slightly more than one additional day per year (not including the effects of leap year) in each calendar year as compared to a 52-week fiscal year, the Company will have a fiscal year comprising 53 weeks in certain fiscal years, as determined by when the last Saturday of the calendar year occurs.

In those resulting fiscal years that have 53 weeks, the Company will record an extra week of sales, costs, and related financial activity. Therefore, the financial results of those 53-week fiscal years, and the associated 14-week fourth quarters, will not be entirely comparable to the prior and subsequent 52-week fiscal years and the associated 13-week quarters. Fiscal years 2018 and 2017 included 52 weeks while fiscal 2016 included 53 weeks.

Use of Estimates

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Foreign Currency

Foreign Currency

Many Garmin Ltd. subsidiaries utilize currencies other than the United States Dollar (USD) as their functional currency. As required by the Foreign Currency Matters topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC), the financial statements of these subsidiaries for all periods presented have been translated into USD, the functional currency of Garmin Ltd., and the reporting currency herein, for purposes of consolidation at rates prevailing during the year for sales, costs, and expenses and at end-of-year rates for all assets and liabilities. The effect of this translation is recorded in a separate component of stockholders’ equity. Cumulative currency translation adjustments of $47,327 and $79,292 as of December 29, 2018 and December 30, 2017, respectively, have been included in accumulated other comprehensive income in the accompanying consolidated balance sheets.

Transactions in foreign currencies are recorded at the approximate rate of exchange at the transaction date. Assets and liabilities resulting from these transactions are translated at the rate of exchange in effect at the balance sheet date. The majority of the Company’s consolidated foreign currency gain or loss is typically driven by the significant cash and marketable securities, receivables, and payables held in a currency other than the functional currency at a given legal entity. Net foreign currency losses recorded in results of operations were $7,616, $22,579, and $31,651 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively. The loss in fiscal 2018 was due primarily to the USD strengthening against the Euro and British Pound Sterling, offset by the USD strengthening against the Taiwan Dollar. The loss in fiscal 2017 was due primarily to the USD weakening against the Taiwan Dollar, which was partially offset by the USD weakening against the Euro and British Pound Sterling. The loss in fiscal 2016 was due primarily to the USD weakening against the Taiwan Dollar and the USD strengthening against the Euro and British Pound Sterling.

Earnings Per Share

Earnings Per Share

Basic earnings per share amounts are computed based on the weighted-average number of common shares outstanding. For purposes of diluted earnings per share, the number of shares that would be issued from the exercise of dilutive share-based compensation awards has been reduced by the number of shares which could have been purchased from the proceeds of the exercise or release at the average market price of the Company’s stock during the period the awards were outstanding. See Note 10.

Cash, Cash Equivalents, and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash

Cash and cash equivalents include cash on hand, operating accounts, money market funds, deposits readily convertible to known amounts of cash, and securities with maturities of three months or less when purchased. The carrying amount of cash and cash equivalents approximates fair value, given the short maturity of those instruments. Restricted cash is reported separately from cash and cash equivalents on the consolidated balance sheets. See Note 4 for additional information on restricted cash.

The total of cash and cash equivalents and restricted cash balances presented on the consolidated balance sheet reconciles to the total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows.

Trade Accounts Receivable

Trade Accounts Receivable

The Company sells its products to retailers, wholesalers, and other customers and extends credit based on its evaluation of the customer’s financial condition. Potential losses on receivables are dependent on each individual customer’s financial condition. The Company carries its trade accounts receivable at net realizable value. Typically, its accounts receivable are collected within 80 days and do not bear interest. The Company monitors its exposure to losses on receivables and maintains allowances for potential losses or adjustments. The Company determines these allowances by (1) evaluating the aging of its receivables and (2) reviewing its high-risk customers. Past due receivable balances are written off when internal collection efforts have been unsuccessful in collecting the amount due. The Company maintains trade credit insurance to provide security against large losses.

Concentration of Credit Risk

Concentration of Credit Risk

The Company grants credit to certain customers who meet the Company’s pre-established credit requirements. Generally, the Company does not require security when trade credit is granted to customers. Credit losses are provided for in the Company’s consolidated financial statements and typically have been within management’s expectations. Certain customers are allowed extended terms consistent with normal industry practice. Most of these extended terms can be classified as either relating to seasonal sales variations or to the timing of new product releases by the Company.

The Company’s top ten customers have contributed between 21% and 24% of net sales annually since 2016. None of the Company’s customers accounted for more than or equal to 10% of consolidated net sales in the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Inventories

Inventories

Inventories are stated at the lower of cost or market with cost being determined on a first-in, first-out (FIFO) basis. The Company writes down its inventory for estimated obsolescence or unmarketable inventory equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required. Inventories consisted of the following:

	December 29, 2018		December 30, 2017
Raw materials	$	205,696	$	179,659
Work-in-process		96,564		75,754
Finished goods		259,580		262,231
Inventories	$	561,840	$	517,644

Property and Equipment

Property and Equipment

Property and equipment are recorded at cost and typically depreciated using the straight-line method over the following estimated useful lives:

Buildings and improvements	39-50
Office furniture and equipment	3-5
Manufacturing and engineering equipment	5-10
Vehicles	5

As required by the Property, Plant and Equipment topic of the FASB ASC, the Company reviews property and equipment assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset or asset group may not be fully recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. That assessment is based on the carrying amount of the asset at the date it is tested for recoverability. An impairment loss is measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value.

Intangible Assets

Intangible Assets

At December 29, 2018, and December 30, 2017, the Company had patents, customer related intangibles and other identifiable finite-lived intangible assets recorded at a cost of $330,532 and $316,705, respectively. Identifiable, finite-lived intangible assets are amortized over their estimated useful lives on a straight-line basis typically over three to ten years. Accumulated amortization was $214,469 and $193,886 at December 29, 2018 and December 30, 2017, respectively. Amortization expense on these intangible assets was $21,796, $20,863, and $14,319 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively. In the next five years, the amortization expense is estimated to be $17,107, $15,125, $11,674, $9,390, and $8,452, respectively.

The Company’s excess purchase cost over fair value of net assets acquired (goodwill) was $301,017 at December 29, 2018, and $286,982 at December 30, 2017.

	December 29, 2018			December 30, 2017
Goodwill balance at beginning of year	$	286,982		$	224,553
Acquisitions		16,768			58,332
Finalization of purchase price allocations and effect of foreign currency translation		(2,733	)		4,097
Goodwill balance at end of year	$	301,017		$	286,982

The Intangibles – Goodwill and Other topic of the FASB ASC (ASC Topic 350) requires that goodwill and intangible assets with indefinite useful lives should not be amortized but rather be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that they may be impaired. The Company performs its annual goodwill and intangible asset impairment tests in the fourth quarter of each year. ASC Topic 350 allows management to first perform a qualitative assessment (“step zero”) by assessing the qualitative factors of relevant events and circumstances at the reporting unit level to determine if it is necessary to perform the quantitative goodwill impairment test (“step one”). If factors indicate that it is more likely than not that the fair value of the reporting unit is less than the carrying amount, then the step one assessment will be performed. If the fair value of the reporting unit is less than the carrying amount in step one, then goodwill impairment will be recognized, and the charge is determined through the “step two” analysis.

Each of the Company’s operating segments (auto PND, auto OEM, aviation, marine, outdoor, and fitness) represents a distinct reporting unit. The auto PND market has declined in recent years as competing technologies have emerged and market saturation has occurred. This has resulted in periods of lower revenues and profits for the Company’s auto PND reporting unit. Considering these qualitative factors, management performed a step one quantitative goodwill impairment assessment of the auto PND reporting unit in the fourth quarter of 2018. Management determined that the fair value of the reporting unit was substantially in excess of its carrying amount, and a step two analysis was therefore not performed. However, considering the uncertainty of future operating results and/or market conditions deteriorating faster or more drastically than the forecasts utilized in management’s estimation of fair value, management believes some or all of the approximately $80 million of goodwill associated with the Company’s auto PND reporting unit is at risk of future impairment. Management concluded that no other reporting units are currently at risk of impairment.

The Company did not recognize any material goodwill or intangible asset impairment charges in 2018, 2017, or 2016.

Dividends

Dividends

Under Swiss corporate law, dividends must be approved by shareholders at the general meeting of the Company’s shareholders.

On June 8, 2018, the shareholders approved a dividend of $2.12 per share (of which, $1.06 was paid in the Company’s 2018 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 29, 2018	June 18, 2018	$	0.53
September 28, 2018	September 14, 2018	$	0.53
December 31, 2018	December 14, 2018	$	0.53
March 29, 2019	March 15, 2019	$	0.53

The Company paid dividends in 2018 in the amount of $296,148, which included three dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

On June 9, 2017, the shareholders approved a dividend of $2.04 per share (of which, $1.53 was paid in the Company’s 2017 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 30, 2017	June 19, 2017	$	0.51
September 29, 2017	September 15, 2017	$	0.51
December 29, 2017	December 15, 2017	$	0.51
March 30, 2018	March 15, 2018	$	0.51

The Company paid dividends in 2017 in the amount of $382,976, which included four dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

On June 10, 2016, the shareholders approved a dividend of $2.04 per share (of which, $1.53 was paid in the Company’s 2016 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 30, 2016	June 16, 2016	$	0.51
September 30, 2016	September 15, 2016	$	0.51
December 30, 2016	December 14, 2016	$	0.51
March 31, 2017	March 15, 2017	$	0.51

The Company paid dividends in 2016 in the amount of $481,452, which included five dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

Approximately $61,129 and $304,674 of retained earnings was indefinitely restricted from distribution to stockholders pursuant to the laws of Taiwan at December 29, 2018 and December 30, 2017, respectively.

Marketable Securities

Marketable Securities

Management determines the appropriate classification of marketable securities at the time of purchase and reevaluates such designation as of each balance sheet date.

All of the Company’s marketable securities were considered available-for-sale at December 29, 2018. Available-for-sale securities are stated at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income. At December 29, 2018 and December 30, 2017, cumulative unrealized net losses of $38,897 and $22,864, respectively, were reported in accumulated other comprehensive income, net of related taxes.

Investments are reviewed periodically to determine if they have suffered an impairment of value that is considered other than temporary. If investments are determined to be impaired, a loss is recognized at the date of determination.

Testing for impairment of investments requires significant management judgment. The identification of potentially impaired investments, the determination of their fair value, and the assessment of whether any decline in value is other than temporary are the key judgment elements. The discovery of new information and the passage of time can significantly change these judgments. Revisions of impairment judgments are made when new information becomes known, and any resulting impairment adjustments are made at that time. The economic environment and volatility of securities markets increase the difficulty of determining fair value and assessing investment impairment.

The amortized cost of debt securities classified as available-for-sale is adjusted for amortization of premiums and accretion of discounts to maturity, or in the case of mortgage-backed securities, over the estimated life of the security. Such amortization is included in interest income from investments. Realized gains and losses, and credit declines in value judged to be other-than-temporary are included in other income. The cost of securities sold is based on the specific identification method.

Investments are discussed in detail in Note 3 of the Notes to Consolidated Financial Statements.

Income Taxes

Income Taxes

The Company accounts for income taxes using the liability method in accordance with the FASB ASC 740 topic Income Taxes. The liability method provides that deferred tax assets and liabilities are recorded based on the difference between the tax bases of assets and liabilities and their carrying amount for financial reporting purposes as measured based on the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

The Company accounts for uncertainty in income taxes in accordance with the FASB ASC 740 topic Income Taxes. The Company recognizes liabilities based on our estimate of whether, and the extent to which, additional taxes will be due. If payment of these amounts ultimately proves not to be required, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no longer necessary. If the Company’s estimate of tax liabilities proves to be less than the ultimate assessment, a further charge to expense would result.

Income taxes are discussed in detail in Note 6 of the Notes to Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition

The Company recognizes revenue upon the transfer of control of promised products or services to the customer in an amount that depicts the consideration the Company expects to be entitled to for the related products or services. For the large majority of the Company’s sales, transfer of control occurs once product has shipped and title and risk of loss have transferred to the customer. The Company offers certain tangible products with ongoing services promised over a period of time, typically the useful life of the related tangible product. When we have identified such services as both capable of being distinct and separately identifiable from the related tangible product, the associated revenue allocated to such services is recognized over time. The Company generally does not offer specified or unspecified upgrade rights to its customers in connection with software sales.

For products that include tangible hardware that contains software essential to the tangible product’s functionality and ongoing services identified as separately identifiable performance obligations, the Company allocates revenue to all performance obligations based on their relative standalone selling prices (“SSP”), with the amounts allocated to ongoing services deferred and recognized over a period of time. These ongoing services primarily consist of the Company’s contractual promises to provide personal navigation device (PND) users with lifetime map updates (LMU) and server-based traffic services. In addition, we provide map update services (map care) over a contractual period in certain hardware and software contracts with original equipment manufacturers (OEMs). The Company has determined that directly observable prices do not exist for LMU, map care, or server-based traffic, as stand-alone and unbundled unit sales do not occur on more than a limited basis. Therefore, the Company uses the expected cost plus a margin as the primary indicator to calculate relative SSP of the LMU, map care, and traffic performance obligations. The revenue and associated costs allocated to the LMU, map care, and/or the server-based traffic service are deferred and recognized ratably over the estimated life of the products of approximately 3 years for PNDs, or the estimated map care period in OEM contracts of 3-10 years as we believe our efforts related to providing these services are spread evenly throughout the performance period. In addition to the products listed above, the Company has offered certain other products with ongoing performance obligations including mobile applications, incremental navigation and/or communication service subscriptions, aviation database subscriptions, and extended warranties that are individually immaterial.

The Company records revenue net of sales tax and variable consideration such as trade discounts and customer returns. Payment is due typically within 90 days or less of shipment of product, or upon the grant of a given software license (as applicable). The Company records estimated reductions to revenue in the form of variable consideration for customer sales programs, returns, and incentive offerings including rebates, price protection (product discounts offered to retailers to assist in clearing older products from their inventories in advance of new product releases), promotions, and other volume-based incentives. Cooperative advertising incentives payable to dealers and distributors are recorded as reductions of revenue unless we obtain proof of a distinct advertising service, in which case we record the incentive as advertising expense. The reductions to revenue are based on estimates and judgments using historical experience and expectation of future conditions. Changes in these estimates could negatively affect the Company’s operating results. These incentives are reviewed periodically and, with the exceptions of price protection and certain other promotions, typically accrued for on a percentage of sales basis.

Deferred Revenues and Costs

Deferred Revenues and Costs

At December 29, 2018 and December 30, 2017, the Company had deferred revenues totaling $172,938 and $190,200, respectively, and related deferred costs totaling $57,935 and $63,554, respectively.

Deferred revenue consists primarily of the transaction price allocated to performance obligations that are recognized over a period of time basis as discussed in the Revenue Recognition portion of this footnote. Billings associated with such items are typically completed upon the transfer of control of promised products or services to the customer and recorded to accounts receivable until payment is received. Deferred costs primarily refer to the royalties incurred by the Company associated with the aforementioned unsatisfied performance obligations, which are amortized over the same period as the revenue is recognized. The Company typically pays the associated royalties either monthly or quarterly in arrears, on a per item shipped or installed basis.

The Company applies a practical expedient, as permitted within ASC 340, to expense as incurred the incremental costs to obtain a contract when the amortization period of the asset that would have otherwise been recognized is one year or less.

Shipping and Handling Costs

Shipping and Handling Costs

Shipping and handling activities are typically performed before the customer obtains control of the good, and the related costs are therefore expensed as incurred. Shipping and handling costs are included in cost of goods sold in the accompanying consolidated financial statements.

Product Warranty

Product Warranty

The Company accrues for estimated future warranty costs at the time products are sold. The Company’s standard warranty obligation to retail partners generally provides for a right of return of any product for a full refund in the event that such product is not merchantable, is damaged, or is defective. The Company’s historical experience is that these types of warranty obligations are generally fulfilled within 5 months from time of sale. The Company’s standard warranty obligation to its end-users provides for a period of one to two years from date of shipment while certain aviation, marine, and auto OEM products have a warranty period of two years or more from the date of installation. The Company’s estimates of costs to service its warranty obligations are based on historical experience and management’s expectations and judgments of future conditions. To the extent the Company experiences increased warranty claim activity or increased costs associated with servicing those claims, its warranty accrual will increase, resulting in decreased gross profit. The following reconciliation provides an illustration of changes in the aggregate warranty accrual:

	Fiscal Year Ended
	December 29,			December 30,			December 31,
	2018			2017			2016

Balance - beginning of period	$	36,827		$	37,233		$	30,449
Accrual for products sold⁽¹⁾		59,374			56,360			61,578
Expenditures		(57,925	)		(56,766	)		(54,794	)
Balance - end of period	$	38,276		$	36,827		$	37,233

(1)

Changes in cost estimates related to pre-existing warranties are not material and aggregated with accruals for new warranty contracts in the ‘accrual for products sold’ line.

Advertising Costs

Advertising Costs

The Company expenses advertising costs as incurred. Advertising expense amounted to approximately $155,394, $164,693, and $177,143 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Research and Development

Research and Development

A majority of the Company’s research and development is performed in the United States. Research and development costs, which are typically expensed as incurred, amounted to approximately $567,805, $511,634, and $467,960 for the years ended December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Customer Service and Technical Support

Customer Service and Technical Support

Customer service and technical support costs are included as selling, general and administrative expenses in the accompanying consolidated statements of income. Customer service and technical support costs include costs associated with performing order processing, answering customer inquiries by telephone and through websites, e-mail and other electronic means, and providing free technical support assistance to customers. The technical support is typically provided within one year after the associated revenue is recognized. The related cost of providing this free support is not material.

Software Development Costs

Software Development Costs

The FASB ASC topic entitled Software requires companies to expense software development costs as they incur them until technological feasibility has been established, at which time those costs are capitalized until the product is available for general release to customers. The Company’s capitalized software development costs are not significant as the time elapsed from working model to release is typically short. As required by the Research and Development topic of the FASB ASC, costs incurred to enhance our existing products or after the general release of the service using the product are expensed in the period they are incurred and included in research and development costs in the accompanying consolidated statements of income.

Accounting for Stock-Based Compensation

Accounting for Stock-Based Compensation

The Company currently sponsors four stock-based employee compensation plans. The FASB ASC topic entitled Compensation – Stock Compensation requires the measurement and recognition of compensation expenses for all share-based payment awards made to employees and directors, including employee stock options and restricted stock, based on estimated fair values.

Accounting guidance requires companies to estimate the fair value of share-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as stock-based compensation expense over the requisite service period in the Company’s consolidated financial statements.

As stock-based compensation expenses recognized in the accompanying consolidated statements of income are based on awards ultimately expected to vest, they have been reduced for estimated forfeitures. Accounting guidance requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures were estimated based on historical experience and management’s estimates.

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which is intended to simplify the accounting for share-based payment awards. The Company adopted ASU 2016-09 on a prospective basis during the quarter ended April 1, 2017. ASU 2016-09 requires excess tax benefits or deficiencies from stock-based compensation to be recognized in the income tax provision. The Company previously recorded these amounts to additional paid-in capital. Additionally, under ASU 2016-09, excess tax benefits and deficiencies are not estimated in the effective tax rate, rather, they are recorded as discrete tax items in the period in which they occur. Excess income tax benefits from stock-based compensation arrangements are classified as a cash flow from operations under ASU 2016-09, rather than as a cash flow from financing activities.

Stock compensation plans are discussed in detail in Note 9 of the Notes to Consolidated Financial Statements.

Recently Adopted Accounting Standards

Recently Adopted Accounting Standards

Revenue from Contracts with Customers

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes previous revenue recognition guidance. The FASB issued several updates amending or relating to ASU 2014-09 (collectively, the “new revenue standard”). The Company has adopted the new revenue standard effective beginning in the 2018 fiscal year using the full retrospective method, which requires the Company to restate each prior reporting period presented in future financial statement issuances. The impacts of adopting the new revenue standard relate to our accounting for certain arrangements within the auto segment.

A portion of the Company’s auto segment contracts have historically been accounted for under Accounting Standards Codification (ASC) Topic 985-605 Software-Revenue Recognition (Topic 985-605). Under Topic 985-605, the Company deferred revenue and associated costs of all elements of multiple-element software arrangements if vendor-specific objective evidence of fair value (VSOE) could not be established for an undelivered element (e.g. map updates). In applying the new revenue standard to certain contracts that include both software licenses and map updates, we now recognize the portion of revenue and costs related to the software license at the time of delivery rather than ratably over the map update period.

Additionally, for certain multiple-element arrangements within the Company’s auto segment, the Company’s policy had been to allocate consideration to traffic services and recognize the revenue and associated cost of royalties ratably over the estimated life of the underlying product. Under the new revenue standard, we recognize revenue and associated costs of royalties related to certain broadcast traffic services at the time of hardware and/or software delivery. Specifically, the new revenue standard emphasizes the timing of the Company’s performance, and upon delivery of the navigation device and/or software, the Company has fully performed its obligation with respect to the design and production of the product to receive and interpret the broadcast traffic signal for the benefit of the end user.

The changes in accounting policy described above collectively result in reductions to deferred costs (asset) and deferred revenue (liability) balances, and accelerate the recognition of revenue and deferred costs in the auto segment going forward.

Summarized financial information depicting the impact of the new revenue standard is presented below. The Company’s historical net cash flows provided by or used in operating, investing, and financing activities are not impacted by adoption of the new revenue standard.

	December 30, 2017							December 31, 2016

	As reported		Restated⁽¹⁾		Impact			As reported			Restated⁽¹⁾			Impact
Current assets:
Deferred costs	$	48,312	$	30,525	$	(17,787	)	$	47,395		$	34,665		$	(12,730	)
Total current assets		2,363,925		2,346,138		(17,787	)		2,263,016			2,250,286			(12,730	)
Deferred income taxes		199,343		195,981		(3,362	)		110,293			107,655			(2,638	)
Noncurrent deferred costs		73,851		33,029		(40,822	)		56,151			30,934			(25,217	)
Total assets	$	5,010,260	$	4,948,289	$	(61,971	)	$	4,525,133		$	4,484,549		$	(40,584	)
Current liabilities:
Deferred revenue		139,681		103,140		(36,541	)		146,564			118,496			(28,068	)
Total current liabilities		828,656		792,115		(36,541	)		782,735			754,667			(28,068	)
Deferred income taxes		75,215		76,612		1,397			61,220			62,617			1,397
Non-current deferred revenue		163,840		87,060		(76,780	)		140,407			91,238			(49,169	)
Retained earnings		2,368,874		2,418,444		49,570			2,056,702			2,092,221			35,519
Accumulated other comprehensive income		56,045		56,428		383			(36,761	)		(37,024	)		(263	)
Total stockholders’ equity		3,802,466		3,852,419		49,953			3,418,003			3,453,259			35,256
Total liabilities and stockholders’ equity	$	5,010,260	$	4,948,289	$	(61,971	)	$	4,525,133		$	4,484,549		$	(40,584	)

	52-Weeks Ended December 30, 2017								53-Weeks Ended December 31, 2016

		As reported			Restated⁽¹⁾			Impact		As reported		Restated⁽¹⁾		Impact
Net sales	$	3,087,004		$	3,121,560		$	34,556	$	3,018,665	$	3,045,797	$	27,132
Gross profit		1,783,164			1,797,941			14,777		1,679,570		1,688,525		8,955
Operating income		668,860			683,637			14,777		623,909		632,864		8,955
Income tax (benefit) provision		(12,661	)		(11,936	)		725		118,856		120,901		2,045
Net income	$	694,955		$	709,007		$	14,052	$	510,814	$	517,724	$	6,910
Diluted net income per share	$	3.68		$	3.76		$	0.08	$	2.70	$	2.73	$	0.03

(1)

The Restated results presented above are restated under ASC Topic 606. Amounts related to the income tax effect of the new standard that were previously disclosed as the anticipated adoption impact in Note 2, Summary of Significant Accounting Policies, in the notes to the consolidated financial statements of our fiscal 2017 Annual Report on Form 10-K filed with the SEC on February 21, 2018 have been revised in this Note by immaterial amounts in connection with our adoption of ASC Topic 606.

Financial Instruments – Recognition, Measurement, Presentation, and Disclosure

In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). The standard addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The Company has adopted the new standard effective beginning in the 2018 fiscal year. The adoption did not have a material impact on the Company’s financial position or results of operations.

Statement of Cash Flows

In August 2016, the FASB issued Accounting Standards Update No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”), which adds or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The standard addresses eight specific cash flow issues with the objective of reducing diversity in practice. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which requires restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling changes in the total amounts within the statement of cash flows. The Company has adopted the new standards effective beginning in the 2018 fiscal year. The adoption of ASU 2016-15 did not have a material impact to the Company’s statements of cash flows. The amendments of ASU 2016-18 were applied using a retrospective transition method, resulting in immaterial changes to the presentation of the Company’s statements of cash flows.

Income Taxes

In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory (“ASU 2016-16”), which requires recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The Company has adopted the new standard effective beginning in the 2018 fiscal year, which resulted in a reclassification of approximately $1,700 of certain prepaid tax balances in a cumulative effect to retained earnings as of the date of adoption.

Income Statement – Reporting Comprehensive Income

In February 2018, the FASB issued Accounting Standards Update No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”), which allows for stranded tax effects in accumulated other comprehensive income resulting from the U.S. Tax Cuts and Jobs Act to be reclassified to retained earnings. The Company has elected to early adopt the new standard effective beginning in the 2018 fiscal year, resulting in reclassification of approximately $452 from accumulated other comprehensive income into retained earnings. The tax effects that were reclassified only relate to amounts resulting from the U.S. Tax Cuts and Jobs Act.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 29, 2018

Accounting Policies [Abstract]

Schedule of inventory

If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required. Inventories consisted of the following:

	December 29, 2018		December 30, 2017
Raw materials	$	205,696	$	179,659
Work-in-process		96,564		75,754
Finished goods		259,580		262,231
Inventories	$	561,840	$	517,644

Schedule of property and equipment

Property and equipment are recorded at cost and typically depreciated using the straight-line method over the following estimated useful lives:

Buildings and improvements	39-50
Office furniture and equipment	3-5
Manufacturing and engineering equipment	5-10
Vehicles	5

Schedule of intangiable assets

The Company’s excess purchase cost over fair value of net assets acquired (goodwill) was $301,017 at December 29, 2018, and $286,982 at December 30, 2017.

	December 29, 2018			December 30, 2017
Goodwill balance at beginning of year	$	286,982		$	224,553
Acquisitions		16,768			58,332
Finalization of purchase price allocations and effect of foreign currency translation		(2,733	)		4,097
Goodwill balance at end of year	$	301,017		$	286,982

Schedule of dividends payable

On June 8, 2018, the shareholders approved a dividend of $2.12 per share (of which, $1.06 was paid in the Company’s 2018 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 29, 2018	June 18, 2018	$	0.53
September 28, 2018	September 14, 2018	$	0.53
December 31, 2018	December 14, 2018	$	0.53
March 29, 2019	March 15, 2019	$	0.53

The Company paid dividends in 2018 in the amount of $296,148, which included three dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

On June 9, 2017, the shareholders approved a dividend of $2.04 per share (of which, $1.53 was paid in the Company’s 2017 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 30, 2017	June 19, 2017	$	0.51
September 29, 2017	September 15, 2017	$	0.51
December 29, 2017	December 15, 2017	$	0.51
March 30, 2018	March 15, 2018	$	0.51

The Company paid dividends in 2017 in the amount of $382,976, which included four dividend distributions in the fiscal year. Both the dividends paid and the remaining dividend payable were reported as a reduction of retained earnings.

On June 10, 2016, the shareholders approved a dividend of $2.04 per share (of which, $1.53 was paid in the Company’s 2016 fiscal year) payable in four equal installments on dates determined by the Board of Directors. The dates determined by the Board were as follows:

Dividend Date	Record Date	$s per share
June 30, 2016	June 16, 2016	$	0.51
September 30, 2016	September 15, 2016	$	0.51
December 30, 2016	December 14, 2016	$	0.51
March 31, 2017	March 15, 2017	$	0.51

Schedule of product warranty

The following reconciliation provides an illustration of changes in the aggregate warranty accrual:

	Fiscal Year Ended
	December 29,			December 30,			December 31,
	2018			2017			2016

Balance - beginning of period	$	36,827		$	37,233		$	30,449
Accrual for products sold⁽¹⁾		59,374			56,360			61,578
Expenditures		(57,925	)		(56,766	)		(54,794	)
Balance - end of period	$	38,276		$	36,827		$	37,233

(1)

Changes in cost estimates related to pre-existing warranties are not material and aggregated with accruals for new warranty contracts in the ‘accrual for products sold’ line.

Sdchedule of recently issued accounting pronouncements

The Company’s historical net cash flows provided by or used in operating, investing, and financing activities are not impacted by adoption of the new revenue standard.

	December 30, 2017							December 31, 2016

	As reported		Restated⁽¹⁾		Impact			As reported			Restated⁽¹⁾			Impact
Current assets:
Deferred costs	$	48,312	$	30,525	$	(17,787	)	$	47,395		$	34,665		$	(12,730	)
Total current assets		2,363,925		2,346,138		(17,787	)		2,263,016			2,250,286			(12,730	)
Deferred income taxes		199,343		195,981		(3,362	)		110,293			107,655			(2,638	)
Noncurrent deferred costs		73,851		33,029		(40,822	)		56,151			30,934			(25,217	)
Total assets	$	5,010,260	$	4,948,289	$	(61,971	)	$	4,525,133		$	4,484,549		$	(40,584	)
Current liabilities:
Deferred revenue		139,681		103,140		(36,541	)		146,564			118,496			(28,068	)
Total current liabilities		828,656		792,115		(36,541	)		782,735			754,667			(28,068	)
Deferred income taxes		75,215		76,612		1,397			61,220			62,617			1,397
Non-current deferred revenue		163,840		87,060		(76,780	)		140,407			91,238			(49,169	)
Retained earnings		2,368,874		2,418,444		49,570			2,056,702			2,092,221			35,519
Accumulated other comprehensive income		56,045		56,428		383			(36,761	)		(37,024	)		(263	)
Total stockholders’ equity		3,802,466		3,852,419		49,953			3,418,003			3,453,259			35,256
Total liabilities and stockholders’ equity	$	5,010,260	$	4,948,289	$	(61,971	)	$	4,525,133		$	4,484,549		$	(40,584	)

	52-Weeks Ended December 30, 2017								53-Weeks Ended December 31, 2016

		As reported			Restated⁽¹⁾			Impact		As reported		Restated⁽¹⁾		Impact
Net sales	$	3,087,004		$	3,121,560		$	34,556	$	3,018,665	$	3,045,797	$	27,132
Gross profit		1,783,164			1,797,941			14,777		1,679,570		1,688,525		8,955
Operating income		668,860			683,637			14,777		623,909		632,864		8,955
Income tax (benefit) provision		(12,661	)		(11,936	)		725		118,856		120,901		2,045
Net income	$	694,955		$	709,007		$	14,052	$	510,814	$	517,724	$	6,910
Diluted net income per share	$	3.68		$	3.76		$	0.08	$	2.70	$	2.73	$	0.03

(1)

The Restated results presented above are restated under ASC Topic 606. Amounts related to the income tax effect of the new standard that were previously disclosed as the anticipated adoption impact in Note 2, Summary of Significant Accounting Policies, in the notes to the consolidated financial statements of our fiscal 2017 Annual Report on Form 10-K filed with the SEC on February 21, 2018 have been revised in this Note by immaterial amounts in connection with our adoption of ASC Topic 606.

Marketable Securities (Tables)

12 Months Ended

Dec. 29, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of available for sale securities measured at estimated fair value on a recurring basis

Available-for-sale securities measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements as of December 29, 2018
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	22,128	$	—	$	22,128	$	—
Agency securities		59,116		—		59,116		—
Mortgage-backed securities		135,865		—		135,865		—
Corporate securities		980,524		—		980,524		—
Municipal securities		173,137		—		173,137		—
Other		142,342		—		142,342		—
Total	$	1,513,112	$	—	$	1,513,112	$	—

	Fair Value Measurements as of December 30, 2017
	Total		Level 1		Level 2		Level 3
U.S. Treasury securities	$	19,337	$	—	$	19,337	$	—
Agency securities		43,361		—		43,361		—
Mortgage-backed securities		174,615		—		174,615		—
Corporate securities		816,793		—		816,793		—
Municipal securities		186,105		—		186,105		—
Other		181,509		—		181,509		—
Total	$	1,421,720	$	—	$	1,421,720	$	—

Schedule of available for sale securities

Marketable securities classified as available-for-sale securities are summarized below:

	Available-For-Sale Securities as of December 29, 2018

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	22,485	$	—	$	(357	)	$	22,128
Agency securities		60,088		28		(1,000	)		59,116
Mortgage-backed securities		142,176		1		(6,312	)		135,865
Corporate securities		1,010,590		33		(30,099	)		980,524
Municipal securities		175,630		73		(2,566	)		173,137
Other		144,606		0		(2,264	)		142,342
Total	$	1,555,575	$	135	$	(42,598	)	$	1,513,112

	Available-For-Sale Securities as of December 30, 2017

		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	19,591	$	—	$	(254	)	$	19,337
Agency securities		44,191		1		(831	)		43,361
Mortgage-backed securities		180,470		13		(5,868	)		174,615
Corporate securities		830,447		136		(13,790	)		816,793
Municipal securities		187,999		110		(2,004	)		186,105
Other		183,730		2		(2,223	)		181,509
Total	$	1,446,428	$	262	$	(24,970	)	$	1,421,720

Schedule of available for sale securities unrealized loss on investments

The following tables display additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of December 29, 2018 and December 30, 2017.

	As of December 29, 2018
	Less than 12 Consecutive Months					12 Consecutive Months or Longer

	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	(3	)	$	3,975	$	(354	)	$	18,153
Agency securities		(5	)		4,656		(995	)		40,508
Mortgage-backed securities		(1	)		361		(6,311	)		135,323
Corporate securities		(4,028	)		323,633		(26,071	)		640,439
Municipal securities		(454	)		38,371		(2,112	)		118,362
Other		(102	)		8,015		(2,162	)		114,120
Total	$	(4,593	)	$	379,011	$	(38,005	)	$	1,066,905

	As of December 30, 2017
	Less than 12 Consecutive Months					12 Consecutive Months or Longer

	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury securities	$	(111	)	$	12,966	$	(143	)	$	6,371
Agency securities		(168	)		16,097		(663	)		25,972
Mortgage-backed securities		(503	)		19,628		(5,365	)		153,835
Corporate securities		(4,562	)		439,174		(9,228	)		347,052
Municipal securities		(1,027	)		125,819		(977	)		38,167
Other		(2,219	)		136,147		(4	)		2,579
Total	$	(8,590	)	$	749,831	$	(16,380	)	$	573,976

Schedule of amortized cost and estimated fair value of marketable securities by contractual maturity

The amortized cost and fair value of marketable securities at December 29, 2018, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

	Amortized Cost		Fair Value

Due in one year or less	$	183,894	$	182,989
Due after one year through five years		1,261,083		1,227,551
Due after five years through ten years		110,598		102,572
	$	1,555,575	$	1,513,112

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 29, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum lease payments

Future minimum rental payments are as follows:

Year	Amount
2019	$	17,170
2020		13,961
2021		10,559
2022		7,290
2023		6,947
Thereafter		13,910
Total	$	69,837

Income Taxes (Tables)

12 Months Ended

Dec. 29, 2018

Income Tax Disclosure [Abstract]

Schedule of income tax provision

The Company’s income tax provision (benefit) consists of the following:

	Fiscal Year Ended
	December 29,			December 30,			December 31,
	2018			2017			2016
Federal:
Current	$	26,784		$	31,343		$	66,627
Deferred		13,249			50,724			4,522
	$	40,033		$	82,067		$	71,149
State:
Current	$	13,015		$	4,203		$	8,809
Deferred		(1,599	)		11,684			(3,933	)
	$	11,416		$	15,887		$	4,876
Foreign:
Current	$	53,625		$	43,688		$	42,406
Deferred		24,093			(153,578	)		2,470
	$	77,718		$	(109,890	)	$	44,876

Total	$	129,167		$	(11,936	)	$	120,901

Schedule of sources and tax effects of the differences

The sources and tax effects of the differences, including the impact of establishing tax contingency accruals, are as follows:

	Fiscal Year Ended
	December 29,			December 30,			December 31,
	2018			2017			2016
Federal income tax expense at U.S. statutory rate	$	172,882		$	243,975		$	223,519
State income tax expense, net of federal tax effect		5,339			5,977			2,749
Foreign-Derived Intangible Income Deduction		(4,666	)		—			—
Foreign tax rate differential		(38,563	)		(106,763	)		(113,078	)
Other foreign taxes less incentives and credits		(12,841	)		(4,646	)		(16,593	)
Withholding Tax		33,306			14,632			17,447
Net Change in Uncertain Tax Positions		(13,728	)		5,363			17,328
Federal Domestic Production Activities Deduction		—			(3,895	)		(5,528	)
Federal Research and Development Credit		(16,562	)		(10,851	)		(8,548	)
Switzerland Corporate Tax Election		—			(180,034	)		—
Share Based Compensation		(2,747	)		19,916			—
Other, net		6,747			4,390			3,605
Income tax expense (benefit)	$	129,167		$	(11,936	)	$	120,901

Schedule of deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	December 29,			December 30,
	2018			2017
Deferred tax assets:
Product warranty accruals	$	2,468		$	2,202
Allowance for doubtful accounts		3,964			5,129
Inventory reserves		6,023			6,920
Sales program allowances		1,657			910
Reserve for sales returns		1,368			816
Accrued vacation		8,179			7,121
Other accruals		3,336			3,601
Share based compensation		6,744			6,261
Tax credit carryforwards		9,697			8,413
Amortization		147,674			165,162
Net operating losses		3,580			8,799
Benefit related to uncertain tax positions		5,852			5,383
Other		4,543			3,677
Valuation allowance related to loss carryforward and tax credits		(4,568	)		(7,267	)
	$	200,517		$	217,127
Deferred tax liabilities:
Depreciation		17,543			11,674
Prepaid Expenses		2,257			3,147
Book basis in excess of tax basis for acquired entities		14,068			17,364
Withholding tax		79,660			60,555
Other		2,974			5,018
		116,502			97,758
Net deferred tax assets	$	84,015		$	119,369

Schedule of unrecognized tax benefits

The total amount of gross unrecognized tax benefits as of December 29, 2018 was $118,287. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for years ended December 29, 2018, December 30, 2017, and December 31, 2016 is as follows:

	December 29,			December 30,			December 31,
	2018			2017			2016
Balance beginning of year	$	130,798		$	115,090		$	97,904
Additions based on tax positions related to prior years		1,138			8,564			489
Reductions based on tax positions related to prior years		(5,340	)		(983	)		(940	)
Additions based on tax positions related to current period		19,368			26,295			28,859
Reductions related to settlements with tax authorities		(527	)		—			(134	)
Expiration of statute of limitations		(27,150	)		(18,168	)		(11,088	)
Balance at end of year	$	118,287		$	130,798		$	115,090

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 29, 2018

Fair Value Disclosures [Abstract]

Schedule of carrying amounts and fair values of financial instruments

The carrying amounts and fair values of the Company’s financial instruments are as follows:

	December 29, 2018				December 30, 2017
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Cash and cash equivalents	$	1,201,732	$	1,201,732	$	891,488	$	891,488
Restricted cash	$	73	$	73	$	271	$	271
Marketable securities	$	1,513,112	$	1,513,112	$	1,421,720	$	1,421,720

Segment Information (Tables)

12 Months Ended

Dec. 29, 2018

Segment Reporting [Abstract]

Schedule of revenues, gross profit, and operating income

Net sales (“revenue”), gross profit, and operating income for each of the Company’s reportable segments are presented below.

	Reportable Segments

52-Weeks Ended December 29, 2018	Outdoor		Fitness		Marine		Auto		Aviation		Total

Net sales	$	809,883	$	858,329	$	441,560	$	634,213	$	603,459	$	3,347,444
Gross profit		528,254		471,764		258,756		270,793		450,152		1,979,719
Operating income		290,510		181,745		63,344		37,998		204,746		778,343

52-Weeks Ended December 30, 2017

Net sales	$	698,867	$	762,194	$	374,001	$	785,139	$	501,359	$	3,1221,560
Gross profit		448,410		422,636		212,592		342,698		371,605		1,797,941
Operating income		249,867		146,765		50,328		82,744		153,933		683,637

53-Weeks Ended December 31, 2016

Net sales	$	546,326	$	818,486	$	331,947	$	909,690	$	439,348	$	3,045,797
Gross profit		340,504		437,205		183,709		397,702		329,405		1,688,525
Operating income		184,035		160,596		52,167		111,302		124,764		632,864

Schedule of net sales, long-lived assets and net assets by geographic area

Net sales, property and equipment, and net assets by geographic area are as shown below for the years ended December 29, 2018, December 30, 2017, and December 31, 2016. Note that APAC includes Asia Pacific and Australian Continent, and EMEA includes Europe, the Middle East and Africa.

	Americas		APAC		EMEA		Total
December 29, 2018
Net sales to external customers ⁽¹⁾	$	1,596,716	$	545,759	$	1,204,969	$	3,347,444
Property and equipment, net		408,992		208,964		45,571		663,527
Net assets ⁽²⁾		2,726,196		995,272		441,506		4,162,974

December 30, 2017
Net sales to external customers ⁽¹⁾	$	1,504,194	$	444,828	$	1,172,538	$	3,121,560
Property and equipment, net		381,974		173,392		40,318		595,684
Net assets ⁽²⁾		2,375,522		982,898		493,999		3,852,419

December 31, 2016
Net sales to external customers ⁽¹⁾	$	1,538,550	$	386,411	$	1,120,836	$	3,045,797
Property and equipment, net		300,158		144,470		38,250		482,878
Net assets ⁽²⁾		2,188,417		933,999		330,844		3,453,260

⁽¹⁾

The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

⁽²⁾

Americas and APAC net assets are primarily held in the United States and Taiwan, respectively.

Stock Compensation Plans (Tables)

12 Months Ended

Dec. 29, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock options and stock appreciation rights award activity

A summary of the Company’s stock-based compensation activity and related information under the 2011 Directors Plan, the 2005 Plan, the 2000 Plan and the 2000 Directors Plan for the years ended December 29, 2018, December 30, 2017, and December 31, 2016 is provided below:

	Stock Options and SARs

	Weighted-Average
	Exercise Price		Number of Shares
			(In Thousands)

Outstanding at December 26, 2015	$	66.80		4,061
Granted				—
Exercised	$	50.77		(716	)
Forfeited/Expired	$	51.12		(608	)
Outstanding at December 31, 2016	$	74.48		2,737
Granted				—
Exercised	$	50.15		(397	)
Forfeited/Expired	$	84.57		(1,948	)
Outstanding at December 30, 2017	$	48.94		392
Granted				—
Exercised	$	48.16		(304	)
Forfeited/Expired	$	83.01		(2	)
Outstanding at December 29, 2018	$	50.92		86
Exercisable at December 29, 2018	$	50.74		76
Expected to vest after December 29, 2018	$	52.44		10

Schedule of exercise price range

Stock Options and SARs as of December 29, 2018
Exercise	Awards		Remaining		Awards
Price	Outstanding		Life (Years)		Exercisable
	(In Thousands)				(In Thousands)

$18.00 - $40.00		—		—		—
$40.01 - $60.00		86		5.51		76
$60.01 - $80.00		—		—		—
$80.01 - $100.00		—		—		—
$100.01 - $120.00		—		—		—
$120.01 - $140.00		—		—		—
		86		5.51		76

Schedule of restricted stock units award activity

	Restricted Stock Units

	Weighted-Average
	Grant Date Fair Value		Number of Shares
			(In Thousands)

Outstanding at December 26, 2015	$	39.45		1,657
Granted	$	40.59		1,241
Released/Vested	$	38.96		(565	)
Cancelled	$	44.57		(509	)
Outstanding at December 31, 2016	$	38.94		1,824
Granted	$	51.71		1,055
Released/Vested	$	39.31		(763	)
Cancelled	$	40.40		(54	)
Outstanding at December 30, 2017	$	45.30		2,062
Granted	$	58.66		1,050
Released/Vested	$	42.55		(961	)
Cancelled	$	47.91		(52	)
Outstanding at December 29, 2018	$	53.17		2,099

Earnings Per Share (Tables)

12 Months Ended

Dec. 29, 2018

Earnings Per Share [Abstract]

Schedule of earnings per share

The following table sets forth the computation of basic and diluted net income per share:

	Fiscal Year Ended
	December 29, 2018		December 30, 2017		December 31, 2016
Numerator:
Numerator for basic and diluted net income per share - net income	$	694,080	$	709,007	$	517,724

Denominator:
Denominator for basic net income per share – weighted-average common shares		188,635		187,828		188,818

Effect of dilutive securities – employee stock options and stock appreciation rights		1,099		904		525

Denominator for diluted net income per share – adjusted weighted-average common shares		189,734		188,732		189,343

Basic net income per share	$	3.68	$	3.77	$	2.74

Diluted net income per share	$	3.66	$	3.76	$	2.73

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 29, 2018

Stockholders' Equity Note [Abstract]

Schedule of changes in accumulated other comprehensive income

The following provides required disclosure of changes in accumulated other comprehensive income (AOCI) balances by component for the year ended December 29, 2018:

	Foreign Currency Translation Adjustment			Net unrealized gains (losses) on available-for-sale securities			Total
Balance - beginning of period	$	79,292		$	(22,864	)	$	56,428
Other comprehensive income before reclassification, net of income tax expense of $2,174		(31,965	)		(16,283	)		(48,248	)
Amounts reclassified from accumulated other comprehensive income		—			702			702
Net current-period other comprehensive income		(31,965	)		(15,581	)		(47,546	)
Reclassification of tax effects due to adoption of ASU 2018-02		—			(452	)		(452	)
Balance - end of period	$	47,327		$	(38,897	)	$	8,430

Schedule of reporting reclassifications out of AOCI

The following provides required disclosure of reporting reclassifications out of AOCI for the year ended December 29, 2018:

52-Weeks Ended Dec 29, 2018
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income is Presented

Unrealized gains (losses) on available-for-sale securities	$	(827	)	Other income (expense)
		125		Income tax benefit (provision)
	$	(702	)	Net of tax

Revenue (Tables)

12 Months Ended

Dec. 29, 2018

Revenue from Contract with Customer [Abstract]

Schedule of disaggregated revenue by major product category

Auto segment revenue presented in Note 8 is comprised of the auto PND and auto OEM major product categories as depicted below.

	Auto Revenue by Major Product Category

	Fiscal Year Ended
	December 29, 2018			December 30, 2017			December 31, 2016
Auto PND		67	%		69	%		76	%
Auto OEM		33	%		31	%		24	%

Schedule of revenue disaggregated

Revenue disaggregated by the timing of transfer of the goods or services is presented in the table below:

	Fiscal Year Ended
	December 29, 2018		December 30, 2017		December 31, 2016
Point in time	$	3,176,949	$	2,954,945	$	2,864,501
Over time		170,495		166,615		181,296
Net sales	$	3,347,444	$	3,121,560	$	3,045,797

Schedule of deferred revenue and costs

Changes in deferred revenue and costs during the 52-week periods ending December 29, 2018 and December 30, 2017, are presented below:

	Fiscal Year Ended
	December 29, 2018						December 30, 2017

	Deferred Revenue⁽¹⁾			Deferred Costs⁽²⁾			Deferred Revenue⁽¹⁾			Deferred Costs⁽²⁾

Balance, beginning of period	$	190,200		$	63,554		$	209,735		$	65,599
Deferrals in period		153,233			36,297			147,080			39,053
Recognition of deferrals in period		(170,495	)		(41,916	)		(166,615	)		(41,098	)
Balance, end of period	$	172,938		$	57,935		$	190,200		$	63,554

⁽¹⁾Deferred revenue is comprised of both Deferred revenue and Noncurrent deferred revenue per the Consolidated Balance Sheets

⁽²⁾Deferred costs are comprised of both Deferred costs and Noncurrent deferred costs per the Consolidated Balance Sheets

Selected Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 29, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information

52-Weeks Ended December 29, 2018

Quarter Ending

March 31

June 30

September 29

December 29

Net sales

$

710,872

$

894,452

$

810,011

$

932,108

Gross profit

426,535

523,270

480,747

549,166

Net income

129,374

190,342

184,214

190,150

Basic net income per share

$

0.69

$

1.01

$

0.98

$

1.01

Diluted net income per share

$

0.68

$

1.00

$

0.97

$

1.00

52-Weeks Ended December 30, 2017

Quarter Ending

April 1

July 1

September 30

December 30

Net sales

$

641,510

$

831,486

$

751,244

$

897,319

Gross profit

372,806

484,130

437,523

503,482

Net income

238,404

176,979

151,074

142,550

Basic net income per share

$

1.27

$

0.94

$

0.81

$

0.76

Diluted net income per share

$

1.26

$

0.94

$

0.80

$

0.75

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Accounting Policies [Abstract]
Raw materials	$ 205,696	$ 179,659
Work-in-process	96,564	75,754
Finished goods	259,580	262,231
Inventories	$ 561,840	$ 517,644

Summary of Significant Accounting Policies (Details 1)	12 Months Ended
Summary of Significant Accounting Policies (Details 1)	Dec. 29, 2018
Buildings And Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	39 years
Buildings And Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	50 years
Office Furniture And Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Office Furniture And Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years
Manufacturing And Engineering Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	5 years
Manufacturing And Engineering Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	10 years
Vehicles [Member]
Property, Plant and Equipment, Useful Life	5 years

Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017
Goodwill [Roll Forward]
Goodwill balance at beginning of year	$ 286,982	$ 224,553
Acquisitions	16,768	58,332
Finalization of purchase price allocations and effect of foreign currency translation	(2,733)	4,097
Goodwill balance at end of year	$ 301,017	$ 286,982

Summary of Significant Accounting Policies (Details 3) - $ / shares	Jun. 08, 2018	Jun. 09, 2017	Jun. 10, 2016
Dividend Payable 1 [Member]
Dividend Date	Jun. 29, 2018	Jun. 30, 2017	Jun. 30, 2016
Record Date	Jun. 18, 2018	Jun. 19, 2017	Jun. 16, 2016
Dividend per share	$ 0.53	$ 0.51	$ 0.51
Dividend Payable 2 [Member]
Dividend Date	Sep. 28, 2018	Sep. 29, 2017	Sep. 30, 2016
Record Date	Sep. 14, 2018	Sep. 15, 2017	Sep. 15, 2016
Dividend per share	$ 0.53	$ 0.51	$ 0.51
Dividend Payable 3 [Member]
Dividend Date	Dec. 31, 2018	Dec. 29, 2017	Dec. 30, 2016
Record Date	Dec. 14, 2018	Dec. 15, 2017	Dec. 14, 2016
Dividend per share	$ 0.53	$ 0.51	$ 0.51
Dividend Payable 4 [Member]
Dividend Date	Mar. 29, 2019	Mar. 30, 2018	Mar. 31, 2017
Record Date	Mar. 15, 2019	Mar. 15, 2018	Mar. 15, 2017
Dividend per share	$ 0.53	$ 0.51	$ 0.51

Summary of Significant Accounting Policies (Details 4) - USD ($)
$ in Thousands

12 Months Ended

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]

Balance - beginning of period

$ 36,827

$ 37,233

$ 30,449

Accrual for products sold

^[1]

59,374

56,360

61,578

Expenditures

(57,925)

(56,766)

(54,794)

Balance - end of period

$ 38,276

$ 36,827

$ 37,233

[1]	Changes in cost estimates related to pre-existing warranties are not material and aggregated with accruals for new warranty contracts in the 'accrual for products sold' line.

Summary of Significant Accounting Policies (Details 5) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

Dec. 26, 2015

$ 549,166

$ 480,747

$ 523,270

$ 426,535

$ 503,482

$ 437,523

$ 484,130

$ 372,806

$ 1,979,719

$ 1,797,941

$ 1,688,525

778,343

683,637

632,864

129,167

(11,936)

120,901

Diluted net income per share (in dollars per share)

$ 190,150

$ 184,214

$ 190,342

$ 129,374

$ 142,550

$ 151,074

$ 176,979

$ 238,404

$ 694,080

$ 709,007

$ 517,724

$ 1.00

$ 0.97

$ 1.00

$ 0.68

$ 0.75

$ 0.80

$ 0.94

$ 1.26

$ 3.66

$ 3.76

$ 2.73

$ 28,462

$ 30,525

$ 28,462

$ 30,525

2,665,368

2,346,138

2,665,368

2,346,138

176,959

195,981

176,959

195,981

29,473

33,029

29,473

33,029

5,382,858

4,948,289

5,382,858

4,948,289

96,372

103,140

96,372

103,140

921,313

792,115

921,313

792,115

92,944

76,612

92,944

76,612

76,566

87,060

76,566

87,060

2,710,619

2,418,444

2,710,619

2,418,444

8,430

56,428

8,430

56,428

4,162,974

3,852,419

4,162,974

3,852,419

$ 3,453,259

$ 3,373,734

$ 5,382,858

4,948,289

$ 5,382,858

4,948,289

As Reported [Member]

3,087,004

3,018,665

1,783,164

1,679,570

668,860

623,909

(12,661)

118,856

Diluted net income per share (in dollars per share)

$ 694,955

$ 510,814

$ 3.68

$ 2.7

48,312

$ 48,312

$ 47,395

2,363,925

2,263,016

199,343

110,293

73,851

56,151

5,010,260

4,525,133

139,681

146,564

828,656

782,735

75,215

61,220

163,840

140,407

2,368,874

2,056,702

56,045

(36,761)

3,802,466

3,418,003

5,010,260

4,525,133

Restatement [Member]

^[1]

3,121,560

3,045,797

^[1]

1,797,941

1,688,525

^[1]

683,637

632,864

^[1]

(11,936)

120,901

Diluted net income per share (in dollars per share)

^[1]

$ 709,007

$ 517,724

^[1]

$ 3.76

$ 2.73

^[1]

30,525

$ 30,525

$ 34,665

^[1]

2,346,138

2,250,286

^[1]

195,981

107,655

^[1]

33,029

30,934

^[1]

4,948,289

4,484,549

103,140

118,496

^[1]

792,115

754,667

^[1]

76,612

62,617

87,060

91,238

^[1]

2,418,444

2,092,221

^[1]

56,428

(37,024)

^[1]

3,852,419

3,453,259

^[1]

4,948,289

4,484,549

Impact [Member]

34,556

27,132

14,777

8,955

14,777

8,955

725

2,045

Diluted net income per share (in dollars per share)

$ 14,052

$ 6,910

$ 0.08

$ 0.03

(17,787)

$ (17,787)

$ (12,730)

(17,787)

(12,730)

(3,362)

(2,638)

(40,822)

(25,217)

(61,971)

(40,584)

(36,541)

(28,068)

(36,541)

(28,068)

1,397

(76,780)

(49,169)

49,570

35,519

383

(263)

49,953

35,256

Cumulative currency translation adjustments

$ (61,971)

$ (40,584)

[1]

The Restated results presented above are restated under ASC Topic 606. Amounts related to the income tax effect of the new standard that were previously disclosed as the anticipated adoption impact in Note 2, Summary of Significant Accounting Policies, in the notes to the consolidated financial statements of our fiscal 2017 Annual Report on Form 10-K filed with the SEC on February 21, 2018 have been revised in this Note by immaterial amounts in connection with our adoption of ASC Topic 606.

Summary of Significant Accounting Policies (Details Narrative) - USD ($)
$ in Thousands

12 Months Ended

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

$ 47,327

$ 79,292

Foreign currency losses

(7,616)

(22,579)

$ (31,651)

Dividends

296,148

382,976

481,452

Intangible assets, net

330,532

316,705

Accumulated amortization intangible assets

214,469

193,886

Amortization expense intangible assets

21,796

20,863

14,319

Amortization expense intangible assets, Next twelve months

17,107

Amortization expense intangible assets, Year two

15,125

Amortization expense intangible assets, Year three

11,674

Amortization expense intangible assets, Year four

9,390

Amortization expense intangible assets, Year five

8,452

Goodwill

301,017

286,982

224,553

Fair value available-for-sale securities unrealized losses

38,897

22,864

Deferred revenues

172,938

^[1]

190,200

^[1]

209,735

Research and development costs

^[2]

57,935

63,554

65,599

Advertising expense

155,394

164,693

177,143

$ 567,805

$ 511,634

$ 467,960

Payment due period for shipment of product

90 days

Prepaid tax

$ 1,700

Reclassification of tax effects due to adoption of ASU 2018-02

452

Other Product Other Than Aviation Product [Member]

Product warranty term

2 years

Auto PND [Member]

Goodwill

$ 80,000

Estimated life of product

3 years

State Administration of Taxation, China [Member]

Restricted retained earnings

$ 61,129

$ 304,674

Minimum [Member]

Acquired intangible assets useful life

3 years

Deferred revenues useful life

1 year

Minimum [Member] | Other Product Other Than Aviation Product [Member]

Product warranty term

1 year

Minimum [Member] | Auto OEM [Member]

Estimated map care period

3 years

Maximum [Member]

Acquired intangible assets useful life

10 years

Maximum [Member] | Other Product Other Than Aviation Product [Member]

Product warranty term

2 years

Maximum [Member] | Auto OEM [Member]

Estimated map care period

10 years

Customer Concentration Risk [Member] | Net Sales [Member]

Concentration risk net sales

10.00%

Ten Customer Concentration Risk [Member] | Net Sales [Member] | Minimum [Member]

Concentration risk net sales

21.00%

Ten Customer Concentration Risk [Member] | Net Sales [Member] | Maximum [Member]

Concentration risk net sales

24.00%

[1]	Deferred revenue is comprised of both Deferred revenue and Noncurrent deferred revenue per the Consolidated Balance Sheets
[2]	Deferred costs are comprised of both Deferred costs and Noncurrent deferred costs per the Consolidated Balance Sheets

Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	$ 1,513,112	$ 1,421,720
U.S.Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	22,128	19,337
Agency Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	59,116	43,361
Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	135,865	174,615
Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	980,524	816,793
Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	173,137	186,105
Other [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	142,342	181,509
Recurring Basis [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	1,513,112	1,421,720
Recurring Basis [Member] \| U.S.Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	22,128	19,337
Recurring Basis [Member] \| Agency Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	59,116	43,361
Recurring Basis [Member] \| Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	135,865	174,615
Recurring Basis [Member] \| Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	980,524	816,793
Recurring Basis [Member] \| Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	173,137	186,105
Recurring Basis [Member] \| Other [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	142,342	181,509
Recurring Basis [Member] \| Level 1 [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 1 [Member] \| U.S.Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 1 [Member] \| Agency Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 1 [Member] \| Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 1 [Member] \| Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 1 [Member] \| Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 1 [Member] \| Other [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 2 [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	1,513,112	1,421,720
Recurring Basis [Member] \| Level 2 [Member] \| U.S.Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	22,128	19,337
Recurring Basis [Member] \| Level 2 [Member] \| Agency Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	59,116	43,361
Recurring Basis [Member] \| Level 2 [Member] \| Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	135,865	174,615
Recurring Basis [Member] \| Level 2 [Member] \| Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	980,524	816,793
Recurring Basis [Member] \| Level 2 [Member] \| Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	173,137	186,105
Recurring Basis [Member] \| Level 2 [Member] \| Other [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total	142,342	181,509
Recurring Basis [Member] \| Level 3 [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 3 [Member] \| U.S.Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 3 [Member] \| Agency Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 3 [Member] \| Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 3 [Member] \| Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 3 [Member] \| Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total
Recurring Basis [Member] \| Level 3 [Member] \| Other [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale securities, total

Marketable Securities (Details 1) - USD ($) $ in Thousands	12 Months Ended
Marketable Securities (Details 1) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 1,555,575	$ 1,446,428
Gross Unrealized Gains	135	262
Gross Unrealized Losses	(42,598)	(24,970)
Fair Value	1,513,112	1,421,720
U.S.Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	22,485	19,591
Gross Unrealized Gains
Gross Unrealized Losses	(357)	(254)
Fair Value	22,128	19,337
Agency Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	60,088	44,191
Gross Unrealized Gains	28	1
Gross Unrealized Losses	(1,000)	(831)
Fair Value	59,116	43,361
Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	142,176	180,470
Gross Unrealized Gains	1	13
Gross Unrealized Losses	(6,312)	(5,868)
Fair Value	135,865	174,615
Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,010,590	830,447
Gross Unrealized Gains	33	136
Gross Unrealized Losses	(30,099)	(13,790)
Fair Value	980,524	816,793
Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	175,630	187,999
Gross Unrealized Gains	73	110
Gross Unrealized Losses	(2,566)	(2,004)
Fair Value	173,137	186,105
Other [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	144,606	183,730
Gross Unrealized Gains	0	2
Gross Unrealized Losses	(2,264)	(2,223)
Fair Value	$ 142,342	$ 181,509

Marketable Securities (Details 2) - USD ($) $ in Thousands	12 Months Ended
Marketable Securities (Details 2) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses Less than 12 Consecutive Months	$ (4,593)	$ (8,590)
Fair Value Less than 12 Consecutive Months	379,011	749,831
Gross Unrealized Losses 12 Consecutive Months or Longer	(38,005)	(16,380)
Fair Value 12 Consecutive Months or Longer	1,066,905	573,976
U.S.Treasury Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses Less than 12 Consecutive Months	(3)	(111)
Fair Value Less than 12 Consecutive Months	3,975	12,966
Gross Unrealized Losses 12 Consecutive Months or Longer	(354)	(143)
Fair Value 12 Consecutive Months or Longer	18,153	6,371
Agency Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses Less than 12 Consecutive Months	(5)	(168)
Fair Value Less than 12 Consecutive Months	4,656	16,097
Gross Unrealized Losses 12 Consecutive Months or Longer	(995)	(663)
Fair Value 12 Consecutive Months or Longer	40,508	25,972
Mortgage-Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses Less than 12 Consecutive Months	(1)	(503)
Fair Value Less than 12 Consecutive Months	361	19,628
Gross Unrealized Losses 12 Consecutive Months or Longer	(6,311)	(5,365)
Fair Value 12 Consecutive Months or Longer	135,323	153,835
Corporate Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses Less than 12 Consecutive Months	(4,028)	(4,562)
Fair Value Less than 12 Consecutive Months	323,633	439,174
Gross Unrealized Losses 12 Consecutive Months or Longer	(26,071)	(9,228)
Fair Value 12 Consecutive Months or Longer	640,439	347,052
Municipal Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses Less than 12 Consecutive Months	(454)	(1,027)
Fair Value Less than 12 Consecutive Months	38,371	125,819
Gross Unrealized Losses 12 Consecutive Months or Longer	(2,112)	(977)
Fair Value 12 Consecutive Months or Longer	118,362	38,167
Other [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses Less than 12 Consecutive Months	(102)	(2,219)
Fair Value Less than 12 Consecutive Months	8,015	136,147
Gross Unrealized Losses 12 Consecutive Months or Longer	(2,162)	(4)
Fair Value 12 Consecutive Months or Longer	$ 114,120	$ 2,579

Marketable Securities (Details 3) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Amortized Cost
Due in one year or less	$ 183,894
Due after one year through five years	1,261,083
Due after five years through ten years	110,598
Total	1,555,575	$ 1,446,428
Fair Value
Due in one year or less	182,989
Due after one year through five years	1,227,551
Due after five years through ten years	102,572
Total	$ 1,513,112	$ 1,421,720

Marketable Securities (Details Narrative) $ in Thousands	Dec. 29, 2018 USD ($)
Investments, Debt and Equity Securities [Abstract]
Unrealized loss position amortized cost	$ 1,488,514
Unrealized loss position fair value	$ 1,445,916
Percentage of available-for-sale securities in unrealized loss positions	86.00%

Commitments and Contingencies (Details) $ in Thousands	Dec. 29, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 17,170
2020	13,961
2021	10,559
2022	7,290
2023	6,947
Thereafter	13,910
Total	$ 69,837

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Rental expense of office, equipment, warehouse space and real estate	$ 21,096	$ 18,915	$ 19,657
Aggregate amount of purchase orders and other commitments	354,553
Garmin (Europe) Ltd & Garmin Corporation [Member]
Restricted cash balances (Local value-added tax)	$ 73	$ 271

Employee Benefit Plans (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Expenses related to other defined contribution plans	$ 52,232	$ 43,826	$ 40,844
Defined Contribution Retirement Plan [Member] \| Garmin International, Inc & Other U.S. - based Subsidiaries Sponsor [Member]
Maximum annually percentage of employees contribution to retirement plan	50.00%

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Federal:
Current	$ 26,784	$ 31,343	$ 66,627
Deferred	13,249	50,724	4,522
Total federal income tax provision (benefit)	40,033	82,067	71,149
State:
Current	13,015	4,203	8,809
Deferred	(1,599)	11,684	(3,933)
Total state income tax provision (benefit)	11,416	15,887	4,876
Foreign:
Current	53,625	43,688	42,406
Deferred	24,093	(153,578)	2,470
Total foreign income tax provision (benefit)	77,718	(109,890)	44,876
Income tax provision (benefit)	$ 129,167	$ (11,936)	$ 120,901

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal income tax expense at U.S. statutory rate	$ 172,882	$ 243,975	$ 223,519
State income tax expense, net of federal tax effect	5,339	5,977	2,749
Foreign-Derived Intangible Income Deduction	(4,666)
Foreign tax rate differential	(38,563)	(106,763)	(113,078)
Other foreign taxes less incentives and credits	(12,841)	(4,646)	(16,593)
Withholding Tax	33,306	14,632	17,447
Net Change in Uncertain Tax Positions	(13,728)	5,363	17,328
Federal Domestic Production Activities Deduction		(3,895)	(5,528)
Federal Research and Development Credit	(16,562)	(10,851)	(8,548)
Switzerland Corporate Tax Election		(180,034)
Share Based Compensation	(2,747)	19,916
Other, net	6,747	4,390	3,605
Income tax provision (benefit)	$ 129,167	$ (11,936)	$ 120,901

Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Deferred tax assets:
Product warranty accruals	$ 2,468	$ 2,202
Allowance for doubtful accounts	3,964	5,129
Inventory reserves	6,023	6,920
Sales program allowances	1,657	910
Reserve for sales returns	1,368	816
Accrued vacation	8,179	7,121
Other accruals	3,336	3,601
Share based compensation	6,744	6,261
Tax credit carryforwards	9,697	8,413
Amortization	147,674	165,162
Net operating losses	3,580	8,799
Benefit related to uncertain tax positions	5,852	5,383
Other	4,543	3,677
Valuation allowance related to loss carryforward and tax credits	(4,568)	(7,267)
Total deferred tax assets	200,517	217,127
Deferred tax liabilities:
Depreciation	17,543	11,674
Prepaid Expenses	2,257	3,147
Book basis in excess of tax basis for acquired entities	14,068	17,364
Withholding tax	79,660	60,555
Other	2,974	5,018
Total deferred tax liabilities	116,502	97,758
Net deferred tax assets	$ 84,015	$ 119,369

Income Taxes (Details 3) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Balance beginning of year	$ 130,798	$ 115,090	$ 97,904
Additions based on tax positions related to prior years	1,138	8,564	489
Reductions based on tax positions related to prior years	(5,340)	(983)	(940)
Additions based on tax positions related to current period	19,368	26,295	28,859
Reductions related to settlements with tax authorities	(527)		(134)
Expiration of statute of limitations	(27,150)	(18,168)	(11,088)
Balance at end of year	$ 118,287	$ 130,798	$ 115,090

Income Taxes (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details Narrative) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Effective income tax amount	$ 172,882	$ 243,975	$ 223,519
Effective income tax foreign tax rate differential	(38,563)	(106,763)	(113,078)
Income before income taxes	823,247	697,071	638,625
Income tax expense	129,167	(11,936)	120,901
Tax credit carryforward amount	9,697	8,413
Switzerland Corporate Tax Election		(180,034)
Non-U.S. Operations Entity's [Member]
Income before income taxes	532,657	461,436	453,729
Foreign Subsidiaries [Member]
Income tax expense	$ 36,800	$ 45,534	$ 45,291
Foreign Tax Authority [Member] \| Swiss Federal Tax Administration (FTA) [Member]
Effective income tax rate	7.83%	7.83%	7.83%
Effective income tax foreign tax rate differential	$ 65,000	$ 77,000	$ 55,000
Foreign Tax Authority [Member] \| Swiss Federal Tax Administration (FTA) [Member] \| Maximum [Member]
Effective income tax amount	108,000	186,000	171,000
Foreign Tax Authority [Member] \| Swiss Federal Tax Administration (FTA) [Member] \| Minimum [Member]
Effective income tax amount	$ 65,000	$ 53,600	$ 49,000

Income Taxes (Details Narrative 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details Narrative 1) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Deferred tax assets related to future tax benefit on net operating loss carryforward	$ 3,580
Net operating loss carryforwards	15,604
Net unrecognized tax benefits	114,682	$ 127,306	$ 109,667
Accrued interest and penalties on unrecognized tax benefits	6,613	5,605	3,901
Increase (decrease) unrecognized tax benefits	1,008	1,704	1,422
Reduction in income tax expense	27,150	18,168	11,088
Minimum [Member]
Reserves for certain unrecognized tax benefits	20,000
Maximum [Member]
Reserves for certain unrecognized tax benefits	25,000
Various Other Jurisdictions [Member]
Net operating loss carryforwards	10,925
Reduction in income tax expense	27,106	$ 17,918	$ 11,151
Foreign Tax Authority [Member] \| Tax and Customs Administration, Netherlands [Member]
Net operating loss carryforwards	$ 1,353
Net operating loss carryforwards expiration year	2026
Foreign Tax Authority [Member] \| Finnish Tax Administration [Member]
Net operating loss carryforwards	$ 1,437
Foreign Tax Authority [Member] \| Finnish Tax Administration [Member] \| Minimum [Member]
Net operating loss carryforwards expiration year	2025
Foreign Tax Authority [Member] \| Finnish Tax Administration [Member] \| Maximum [Member]
Net operating loss carryforwards expiration year	2028
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member]
Net operating loss carryforwards	$ 1,889
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Minimum [Member]
Net operating loss carryforwards expiration year	2022
Domestic Tax Authority [Member] \| Internal Revenue Service (IRS) [Member] \| Maximum [Member]
Net operating loss carryforwards expiration year	2037

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Marketable securities	$ 1,513,112	$ 1,421,720
Carrying Amount [Member]
Cash and cash equivalents	1,201,732	891,488
Restricted cash	73	271
Marketable securities	1,513,112	1,421,720
Fair Value [Member]
Cash and cash equivalents	1,201,732	891,488
Restricted cash	73	271
Marketable securities	$ 1,513,112	$ 1,421,720

Segment Information (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

$ 932,108

$ 810,011

$ 894,452

$ 710,872

$ 897,319

$ 751,244

$ 831,486

$ 641,510

$ 3,347,444

^[1]

$ 3,121,560

^[1]

$ 3,045,797

^[1]

$ 549,166

$ 480,747

$ 523,270

$ 426,535

$ 503,482

$ 437,523

$ 484,130

$ 372,806

1,979,719

1,797,941

1,688,525

778,343

683,637

632,864

Outdoor [Member]

809,883

698,867

546,326

528,254

448,410

340,504

290,510

249,867

184,035

Fitness [Member]

858,329

762,194

818,486

471,764

422,636

437,205

181,745

146,765

160,596

Marine [Member]

441,560

374,001

331,947

258,756

212,592

183,709

63,344

50,328

52,167

Auto [Member]

634,213

785,139

909,690

270,793

342,698

397,702

37,998

82,744

111,302

Aviation [Member]

603,459

501,359

439,348

450,152

371,605

329,405

$ 204,746

$ 153,933

$ 124,764

[1]	The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

Segment Information (Details 1) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

$ 932,108

$ 810,011

$ 894,452

$ 710,872

$ 897,319

$ 751,244

$ 831,486

$ 641,510

$ 3,347,444

^[1]

$ 3,121,560

^[1]

$ 3,045,797

^[1]

663,527

595,684

663,527

595,684

482,878

^[2]

4,162,974

3,852,419

4,162,974

3,852,419

3,453,260

Americas [Member]

^[1]

1,596,716

1,504,194

1,538,550

408,992

381,974

408,992

381,974

300,158

^[2]

2,726,196

2,375,522

2,726,196

2,375,522

2,188,417

APAC [Member]

^[1]

545,759

444,828

386,411

208,964

173,392

208,964

173,392

144,470

^[2]

995,272

982,898

995,272

982,898

933,999

EMEA [Member]

^[1]

1,204,969

1,172,538

1,120,836

45,571

40,318

45,571

40,318

38,250

^[2]

$ 441,506

$ 493,999

$ 441,506

$ 493,999

$ 330,844

[1]	The U.S. is the only country which constitutes greater than 10% of net sales to external customers.
[2]	Americas and APAC net assets are primarily held in the United States and Taiwan, respectively.

Segment Information (Details Narrative)	12 Months Ended
Segment Information (Details Narrative)	Dec. 29, 2018 Segment
Segment Reporting [Abstract]
Number of reportable segments	5
Number of operating segments	2

Stock Compensation Plans (Details) - Stock Option & Stock Appreciation Rights [Member] - $ / shares	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning	$ 48.94	$ 74.48	$ 66.80
Granted
Exercised	48.16	50.15	50.77
Forfeited/Expired	83.01	84.57	51.12
Outstanding at end	50.92	$ 48.94	$ 74.48
Exercisable at end	50.74
Expected to vest	$ 52.44
Share-based Compensation Arrangement by Share-based Payment Award, Outstanding [Roll Forward]
Outstanding at beginning	392,000	2,737,000	4,061,000
Granted
Exercised	(304,000)	(397,000)	(716,000)
Forfeited/Expired	(2,000)	(1,948,000)	(608,000)
Outstanding at end	86,000	392,000	2,737,000
Exercisable at end	76,000
Expected to vest	10,000

Stock Compensation Plans (Details 1) - Stock Option & Stock Appreciation Rights [Member]	12 Months Ended
	Dec. 29, 2018 shares
Awards Outstanding	86,000
Remaining Life	5 years 6 months 4 days
Awards Exercisable	76,000
Exercise Price $18.00 - $40.00 [Member]
Awards Outstanding
Awards Exercisable
Exercise Price $40.01 - $60.00 [Member]
Awards Outstanding	86,000
Remaining Life	5 years 6 months 4 days
Awards Exercisable	76,000
Exercise Price $60.01 - $80.00 [Member]
Awards Outstanding
Awards Exercisable
Exercise Price $80.01 - $100.00 [Member]
Awards Outstanding
Awards Exercisable
Exercise Price $100.01 - $120.00 [Member]
Awards Outstanding
Awards Exercisable
Exercise Price $120.01 - $140.00 [Member]
Awards Outstanding
Awards Exercisable

Stock Compensation Plans (Details 2) - Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning	$ 45.30	$ 38.94	$ 39.45
Granted	58.66	51.71	40.59
Released/Vested	42.55	39.31	38.96
Cancelled	47.91	40.40	44.57
Outstanding at end	$ 53.17	$ 45.30	$ 38.94
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning	2,062,000	1,824,000	1,657,000
Granted	1,050,000	1,055,000	1,241,000
Released/Vested	(961,000)	(763,000)	(565,000)
Cancelled	(52,000)	(54,000)	(509,000)
Outstanding at end	2,099,000	2,062,000	1,824,000

Stock Compensation Plans (Details Narrative) - shares	1 Months Ended			12 Months Ended
Stock Compensation Plans (Details Narrative) - shares	Jun. 30, 2011	Jun. 30, 2005	Oct. 31, 2000	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016	Dec. 28, 2013	Dec. 26, 2009
Restricted Stock Units [Member]
Number of shares granted (in shares)				1,050,000	1,055,000	1,241,000
Outstanding awards weighted-average remaining contract life				1 year 2 months 16 days
Stock Option & Stock Appreciation Rights [Member]
Outstanding awards weighted-average remaining contract life				5 years 6 months 4 days
Exercisable awards weighted-average remaining contract life				5 years 5 months 12 days
2011 Non-employee Directors' Equity Incentive Plan [Member]
Maximum number of authorized shares available for issuance (in shares)	122,592
Award vesting period	2 years
Award expiration period	10 years
2011 Non-employee Directors' Equity Incentive Plan [Member] \| Restricted Stock Units [Member]
Number of shares granted (in shares)				10,376	10,432	12,984
2005 Equity Incentive Plan [Member]
Maximum number of authorized shares available for issuance (in shares)		10,000,000					13,000,000
Number of additional authorized shares issued (in shares)							3,000,000
2005 Equity Incentive Plan [Member] \| Restricted Stock Units [Member]
Award vesting period		3 years
Number of shares granted (in shares)				1,040,001	1,044,045	1,228,427
Description of vesting period				RSUs granted prior to December 10, 2012 vested or are vesting evenly over a period of five years.
2005 Equity Incentive Plan [Member] \| Stock Option & Stock Appreciation Rights [Member]
Award vesting period		5 years
Award expiration period		10 years
2000 Equity Incentive Plan [Member]
Maximum number of authorized shares available for issuance (in shares)			7,000,000
2000 Equity Incentive Plan [Member] \| Stock Option & Stock Appreciation Rights [Member]
Award vesting period			5 years
Award expiration period			10 years
2000 Non-employee Directors' Option Plan [Member]
Maximum number of authorized shares available for issuance (in shares)			100,000					250,000
Award vesting period			3 years
Award expiration period			10 years
Number of additional authorized shares issued (in shares)								150,000

Stock Compensation Plans (Details Narrative 1) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Total fair value of vested awards		$ 41,092	$ 30,280	$ 22,429
Closing stock price (in dollars per share)		$ 62.82
Total unrecognized compensation cost related to unvested share-based compensation awards		$ 72,912
Employee Stock Purchase Plan [Member]
Maximum number of authorized shares available for issuance (in shares)	6,000,000
Purchase price of common stock (fair market value of the stock on the date of purchase) (in percent)	85.00%
Purchase price of common stock (fair market value on the first day of the ESPP period) (in percent)	85.00%
Number of shares purchased (in shares)		463,066	489,267	541,018
Total shares purchase price		$ 23,709	$ 20,996	$ 18,157
Number of shares available for future issuance (in shares)		507,301
Stock Option & Stock Appreciation Rights [Member]
Outstanding awards aggregate intrinsic values		$ 1,018
Exercisable awards aggregate intrinsic values		920
Aggregate intrinsic values		4,452	3,742	1,632
Restricted Stock Units [Member]
Outstanding awards aggregate intrinsic values		131,876
Aggregate intrinsic values		$ 60,361	$ 45,424	$ 27,386

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Numerator:
Numerator for basic and diluted net income per share - net income	$ 190,150	$ 184,214	$ 190,342	$ 129,374	$ 142,550	$ 151,074	$ 176,979	$ 238,404	$ 694,080	$ 709,007	$ 517,724
Denominator:
Denominator for basic net income per share - weighted-average common shares									188,635	187,828	188,818
Effect of dilutive securities - employee stock options and stock appreciation rights									1,099	904	525
Denominator for diluted net income per share - adjusted weighted-average common shares									189,734	188,732	189,343
Basic net income per share (in dollars per share)	$ 1.01	$ 0.98	$ 1.01	$ 0.69	$ 0.76	$ 0.81	$ 0.94	$ 1.27	$ 3.68	$ 3.77	$ 2.74
Diluted net income per share (in dollars per share)	$ 1.00	$ 0.97	$ 1.00	$ 0.68	$ 0.75	$ 0.80	$ 0.94	$ 1.26	$ 3.66	$ 3.76	$ 2.73

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Earnings Per Share (Details Narrative) - shares	12 Months Ended
Earnings Per Share (Details Narrative) - shares	Dec. 30, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Number of anti-dilutive equity awards	1,175,728	3,547,738

Share Repurchase Plan (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016	Feb. 13, 2015
Equity [Abstract]
Stock repurchase program, authorized amount				$ 300,000
Stock repurchase program, expiration date			Dec. 31, 2017
Stock issued for repurchase program, shares	0	1,474,092	2,152,716
Stock issued for repurchase program, value		$ 74,523	$ 93,233

Accumulated Other Comprehensive Income (Details) $ in Thousands	12 Months Ended
	Dec. 29, 2018 USD ($)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent [Roll Forward]
Balance - beginning of period	$ 79,292
Other comprehensive income before reclassification, net of income tax benefit	(31,965)
Amounts reclassified from accumulated other comprehensive income
Net current-period other comprehensive income	(31,965)
Reclassification of tax effects due to adoption of ASU 2018-02
Balance - end of period	47,327
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent [Roll Forward]
Balance - beginning of period	(22,864)
Other comprehensive income before reclassification, net of income tax benefit	(16,283)
Amounts reclassified from accumulated other comprehensive income	702
Net current-period other comprehensive income	(15,581)
Reclassification of tax effects due to adoption of ASU 2018-02	(452)
Balance - end of period	(38,897)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance - beginning of period	56,428
Other comprehensive income before reclassification, net of income tax benefit	(48,248)
Amounts reclassified from accumulated other comprehensive income	702
Net current-period other comprehensive income	(47,546)
Reclassification of tax effects due to adoption of ASU 2018-02	(452)
Balance - end of period	8,430
Net of income tax expense	$ 2,174

Accumulated Other Comprehensive Income (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Other income (expense)	$ 44,904	$ 13,434	$ 5,761
Income tax benefit (provision)	(129,167)	$ 11,936	$ (120,901)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] \| Reclassification From Accumulated Other Comprehensive Income [Member]
Other income (expense)	(827)
Income tax benefit (provision)	125
Net of tax	$ (702)

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Revenue (Details)	12 Months Ended
Revenue (Details)	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Auto PND [Member]
Percentage of auto revenue	67.00%	69.00%	76.00%
Auto OEM [Member]
Percentage of auto revenue	33.00%	31.00%	24.00%

Revenue (Details 1) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

$ 932,108

$ 810,011

$ 894,452

$ 710,872

$ 897,319

$ 751,244

$ 831,486

$ 641,510

$ 3,347,444

^[1]

$ 3,121,560

^[1]

$ 3,045,797

^[1]

Point in Time [Member]

3,176,949

2,954,945

2,864,501

Over Time [Member]

Movement in Deferred Revenue [Roll Forward]

$ 170,495

$ 166,615

$ 181,296

[1]	The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

Revenue (Details 2) - USD ($)
$ in Thousands

12 Months Ended

Dec. 29, 2018

Dec. 30, 2017

Balance, beginning of period

$ 190,200

^[1]

$ 209,735

Deferrals in period

153,233

^[1]

147,080

Recognition of deferrals in period

(170,495)

^[1]

(166,615)

Balance, end of period

^[1]

172,938

190,200

Movement in Deferred Costs [Roll Forward]

Balance, beginning of period

^[2]

63,554

65,599

Deferrals in period

^[2]

36,297

39,053

Recognition of deferrals in period

^[2]

(41,916)

(41,098)

Balance, end of period

^[2]

$ 57,935

$ 63,554

[1]	Deferred revenue is comprised of both Deferred revenue and Noncurrent deferred revenue per the Consolidated Balance Sheets
[2]	Deferred costs are comprised of both Deferred costs and Noncurrent deferred costs per the Consolidated Balance Sheets

Selected Quarterly Information (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

$ 932,108

$ 810,011

$ 894,452

$ 710,872

$ 897,319

$ 751,244

$ 831,486

$ 641,510

$ 3,347,444

^[1]

$ 3,121,560

^[1]

$ 3,045,797

^[1]

549,166

480,747

523,270

426,535

503,482

437,523

484,130

372,806

1,979,719

1,797,941

1,688,525

Basic net income per share (in dollars per share)

$ 190,150

$ 184,214

$ 190,342

$ 129,374

$ 142,550

$ 151,074

$ 176,979

$ 238,404

$ 694,080

$ 709,007

$ 517,724

$ 1.01

$ 0.98

$ 1.01

$ 0.69

$ 0.76

$ 0.81

$ 0.94

$ 1.27

$ 3.68

$ 3.77

$ 2.74

Diluted net income per share (in dollars per share)

$ 1.00

$ 0.97

$ 1.00

$ 0.68

$ 0.75

$ 0.80

$ 0.94

$ 1.26

$ 3.66

$ 3.76

$ 2.73

[1]	The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.